76 FR 61183 - Loveland Area Projects-Western Area Colorado Missouri Balancing Authority-Rate Order No. WAPA-155

Federal Register 2010, 2011, 2012, 2013, 2014

2011-10-03

... metered load settled using WACM hourly pricing with no using WACM hourly pricing with no penalty. penalty... metered load settled using pricing in no-penalty band. Customer WACM hourly pricing with a 25% penalty... or equal to 0.5 percent of its hourly average load, no Regulation Service charges will be assessed by...

Is response to price equal for those with higher alcohol consumption?

PubMed

Byrnes, Joshua; Shakeshaft, Anthony; Petrie, Dennis; Doran, Christopher M

2016-01-01

To determine if taxation policies that increase the price of alcohol differentially reduce alcohol consumption for heavy drinkers in Australia. A two-part demand model for alcohol consumption is used to determine the price elasticity of alcohol. Quantile regression is used to determine the price elasticity estimates for various levels of consumption. The study uses Australian data collected by the National Drug Strategy Household Survey for the years 2001, 2004 and 2007. Measures of individual annual alcohol consumption were derived from three waves of the National Drug Strategy Household Survey; alcohol prices were taken from market research reports. For the overall population of drinkers, a 1% increase in the price of alcohol was associated with a 0.96% (95% CI -0.35%, -1.57%) reduction in alcohol consumption. For those in the highest 10% of drinkers by average amount consumed, a 1% increase in the price of alcohol was associated with a 1.26% (95% CI 0.82%, 1.70%) reduction in consumption. Within Australia, policies that increase the price of alcohol are about equally effective in relative terms for reducing alcohol consumption both for the general population and among those who drink heavily.

Insurer market structure and variation in commercial health care spending.

PubMed

McKellar, Michael R; Naimer, Sivia; Landrum, Mary B; Gibson, Teresa B; Chandra, Amitabh; Chernew, Michael

2014-06-01

To examine the relationship between insurance market structure and health care prices, utilization, and spending. Claims for 37.6 million privately insured employees and their dependents from the Truven Health Market Scan Database in 2009. Measures of insurer market structure derived from Health Leaders Inter study data. Regression models are used to estimate the association between insurance market concentration and health care spending, utilization, and price, adjusting for differences in patient characteristics and other market-level traits. Insurance market concentration is inversely related to prices and spending, but positively related to utilization. Our results imply that, after adjusting for input price differences, a market with two equal size insurers is associated with 3.9 percent lower medical care spending per capita (p = .002) and 5.0 percent lower prices for health care services relative to one with three equal size insurers (p < .001). Greater fragmentation in the insurance market might lead to higher prices and higher spending for care, suggesting some of the gains from insurer competition may be absorbed by higher prices for health care. Greater attention to prices and utilization in the provider market may need to accompany procompetitive insurance market strategies. © Health Research and Educational Trust.

9 CFR 54.6 - Amount of indemnity payments.

Code of Federal Regulations, 2010 CFR

2010-01-01

... weighted average Choice/Prime slaughter lamb price per pound at Greeley, CO; (2) The weekly weighted... commercial western ewe lamb replacement price per head; (4) The monthly weighted average commercial western... ewe lambs under 1 year of age, the indemnity shall equal the per-head price from paragraph (a)(3) of...

The Price of Inequality

ERIC Educational Resources Information Center

Jensen, Arthur R.

1975-01-01

Some of the key problems of educational equality -- equality of opportunities and inequality of performance; individual differences vs. group differences, coping with group inequality -- are made explicit. (Author/KM)

Systems and methods for energy cost optimization in a building system

DOEpatents

Turney, Robert D.; Wenzel, Michael J.

2016-09-06

Methods and systems to minimize energy cost in response to time-varying energy prices are presented for a variety of different pricing scenarios. A cascaded model predictive control system is disclosed comprising an inner controller and an outer controller. The inner controller controls power use using a derivative of a temperature setpoint and the outer controller controls temperature via a power setpoint or power deferral. An optimization procedure is used to minimize a cost function within a time horizon subject to temperature constraints, equality constraints, and demand charge constraints. Equality constraints are formulated using system model information and system state information whereas demand charge constraints are formulated using system state information and pricing information. A masking procedure is used to invalidate demand charge constraints for inactive pricing periods including peak, partial-peak, off-peak, critical-peak, and real-time.

Economic evaluation of Eucalypt energy plantations

Treesearch

Richard B. Standiford; F. Thomas Ledig

1983-01-01

An analysis is made of the break-even price at a 6 percent and 10 percent real interest rate for "intensive" and "minimally managed" scenarios for managing eucalypt energy plantations. The break-even price is greater than the average stumpage price reported for firewood and chipwood by the State Board of Equalization. However, a conversion surplus...

Insurer Market Structure and Variation in Commercial Health Care Spending

PubMed Central

McKellar, Michael R; Naimer, Sivia; Landrum, Mary B; Gibson, Teresa B; Chandra, Amitabh; Chernew, Michael

2014-01-01

Objective To examine the relationship between insurance market structure and health care prices, utilization, and spending. Data Sources Claims for 37.6 million privately insured employees and their dependents from the Truven Health Market Scan Database in 2009. Measures of insurer market structure derived from Health Leaders Inter study data. Methods Regression models are used to estimate the association between insurance market concentration and health care spending, utilization, and price, adjusting for differences in patient characteristics and other market-level traits. Results Insurance market concentration is inversely related to prices and spending, but positively related to utilization. Our results imply that, after adjusting for input price differences, a market with two equal size insurers is associated with 3.9 percent lower medical care spending per capita (p = .002) and 5.0 percent lower prices for health care services relative to one with three equal size insurers (p < .001). Conclusion Greater fragmentation in the insurance market might lead to higher prices and higher spending for care, suggesting some of the gains from insurer competition may be absorbed by higher prices for health care. Greater attention to prices and utilization in the provider market may need to accompany procompetitive insurance market strategies. PMID:24303879

Financial methods in competitive electricity markets

NASA Astrophysics Data System (ADS)

Deng, Shijie

The restructuring of electric power industry has become a global trend. As reforms to the electricity supply industry spread rapidly across countries and states, many political and economical issues arise as a result of people debating over which approach to adopt in restructuring the vertically integrated electricity industry. This dissertation addresses issues of transmission pricing, electricity spot price modeling, as well as risk management and asset valuation in a competitive electricity industry. A major concern in the restructuring of the electricity industries is the design of a transmission pricing scheme that will ensure open-access to the transmission networks. I propose a priority-pricing scheme for zonal access to the electric power grid that is uniform across all buses in each zone. The Independent System Operator (ISO) charges bulk power traders a per unit ex ante transmission access fee based on the expected option value of the generated power with respect to the random zonal spot prices. The zonal access fee depends on the injection zone and a self-selected strike price determining the scheduling priority of the transaction. Inter zonal transactions are charged (or credited) with an additional ex post congestion fee that equals the zonal spot price difference. The unit access fee entitles a bulk power trader to either physical injection of one unit of energy or a compensation payment that equals to the difference between the realized zonal spot price and the selected strike price. The ISO manages congestion so as to minimize net compensation payments and thus, curtailment probabilities corresponding to a particular strike price may vary by bus. The rest of the dissertation deals with the issues of modeling electricity spot prices, pricing electricity financial instruments and the corresponding risk management applications. Modeling the spot prices of electricity is important for the market participants who need to understand the risk factors in pricing electricity financial instruments such as electricity forwards, options and cross-commodity derivatives. It is also essential for the analysis of financial risk management, asset valuation, and project financing. In the setting of diffusion processes with multiple types of jumps, I examine three mean-reversion models for modeling the electricity spot prices. I impose some structure on the coefficients of the diffusion processes, which allows me to easily compute the prices of contingent claims (or, financial instruments) on electricity by Fourier methods. I derive the pricing formulas for various electricity derivatives and examine how the prices vary with different modeling assumptions. I demonstrate a couple of risk management applications of the electricity financial instruments. I also construct a real options approach to value electric power generation and transmission assets both with and without accounting for the operating characteristics of the assets. The implications of the mean-reversion jump-diffusion models on financial risk management and real asset valuation in competitive electricity markets are illustrated. With a discrete trinomial lattice modeling the underlying commodity prices, I estimate the effects of operational characteristics on the asset valuation by means of numerical examples that incorporate these aspects using stochastic dynamic programming. (Abstract shortened by UMI.)

31 CFR 375.13 - What requirements apply to offers?

Code of Federal Regulations, 2011 CFR

2011-07-01

... 31 Money and Finance:Treasury 2 2011-07-01 2011-07-01 false What requirements apply to offers? 375... description, par amount, and price of each security offered. All offers must equal or exceed the minimum offer... must express offered prices in terms of price per $100 of par with three decimals, e.g., 102.172. The...

31 CFR 375.13 - What requirements apply to offers?

Code of Federal Regulations, 2014 CFR

2014-07-01

... 31 Money and Finance: Treasury 2 2014-07-01 2014-07-01 false What requirements apply to offers... description, par amount, and price of each security offered. All offers must equal or exceed the minimum offer... must express offered prices in terms of price per $100 of par with three decimals, e.g., 102.172. The...

31 CFR 375.13 - What requirements apply to offers?

Code of Federal Regulations, 2013 CFR

2013-07-01

... 31 Money and Finance:Treasury 2 2013-07-01 2013-07-01 false What requirements apply to offers? 375... description, par amount, and price of each security offered. All offers must equal or exceed the minimum offer... must express offered prices in terms of price per $100 of par with three decimals, e.g., 102.172. The...

31 CFR 375.13 - What requirements apply to offers?

Code of Federal Regulations, 2010 CFR

2010-07-01

... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false What requirements apply to offers... description, par amount, and price of each security offered. All offers must equal or exceed the minimum offer... must express offered prices in terms of price per $100 of par with three decimals, e.g., 102.172. The...

31 CFR 375.13 - What requirements apply to offers?

Code of Federal Regulations, 2012 CFR

2012-07-01

... 31 Money and Finance:Treasury 2 2012-07-01 2012-07-01 false What requirements apply to offers? 375... description, par amount, and price of each security offered. All offers must equal or exceed the minimum offer... must express offered prices in terms of price per $100 of par with three decimals, e.g., 102.172. The...

Price-Cost Ratios in Higher Education: Subsidy Structure and Policy Implications

ERIC Educational Resources Information Center

Xie, Yan

2010-01-01

The diversity of US institutions of higher education is manifested in many ways. This study looks at that diversity from the economic perspective by studying the subsidy structure through the distribution of institutional price-cost ratio (PCR), defined as the sum of net tuition price divided by total supplier cost and equals to one minus…

76 FR 35503 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing of...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-06-17

... Price Reporting Authority (``OPRA''), the Consolidated Tape Association (``CTA'') tape and/or the Market... equal to $100. The minimum price variation shall be established on a class-by- class basis by the..., the proposal permits the Exchange to designate $0.01 as the minimum price variation for quotes and...

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

Code of Federal Regulations, 2010 CFR

2010-01-01

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

78 FR 52991 - Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of Filing of Proposed Rule Change...

Federal Register 2010, 2011, 2012, 2013, 2014

2013-08-27

..., 2014, a separate price improvement process for public customer and non-public customer PIXL Orders that... price equal to or within a range of 2.49-2.51. Assume a public customer or non-public customer order to... continue to afford the same price improvement opportunities for public customer and non-public customer...

75 FR 78288 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-12-15

....00 (for options whose underlying stock's previous trading day's last sale price was less than or... last sale price was greater than $100) in premium in each of the front two expiration months and 80% of... trading day's last sale price was less than or equal to $100) and between $0.10 and $5.00 (for options...

[Economic factors and gender differences in the prevalence of smoking among adults].

PubMed

Paes, Nelson Leitão

2016-01-01

This article presents a study that seeks to identify the relevant economic variables in the prevalence of smoking in a group of 37 countries. The chosen methodology was to estimate multiple linear regression using the least square approach. The econometric exercise is performed by gender, seeking to examine whether there are different motivations for cigarette smoking among the adult population of men and women. The results show that although taxation is a common element in the decision of both sexes, the decision to smoke among women is also sensitive to price and other social and cultural factors. These factors were based on the fact that women who live in countries that are part of the Organization for Economic Cooperation and Development reveal a significantly higher prevalence of cigarette consumption. The evidence presented in this study, therefore, reinforces the perception that taxation is in fact a crucial tool in the control of smoking, but in the specific case of women, higher prices and the promotion of greater equality with men, are also important.

Costs of paying higher prices for equivalent effects on the Pharmaceutical Benefits Scheme.

PubMed

Karnon, Jonathan; Edney, Laura; Sorich, Michael

2017-03-01

Objective The aims of the present study were to illustrate and discuss the effects of the non-maintenance of equivalent prices when the comparators of pharmaceuticals listed on the Pharmaceutical Benefits Schedule (PBS) on a cost-minimisation basis come off-patent and are subject to statutory price reductions, as well as further potential price reductions because of the effects of price disclosure. Methods Service use, benefits paid, and price data were analysed for a selected sample of pharmaceuticals recommended for listing on a cost-minimisation basis between 2008 and 2011, and their comparators, to estimate the cost savings to the PBS of maintaining equivalent prices. Results Potential cost savings for 12 pharmaceuticals, including alternative compounds and combination products across nine therapeutic groups, ranged from A$570000 to A$40million to April 2015. Potential savings increased significantly following recent amendments to the price disclosure process. Conclusions Potential savings from maintaining equivalent prices for all pharmaceuticals listed on the PBS on a cost-minimisation basis could be over A$500million per year. Actions to reduce these costs can be taken within existing policy frameworks, but legislative and political barriers may need to be addressed to minimise these costs, which are incurred by the taxpayer for no additional benefit. What is known about the topic? Pharmaceuticals listed on the PBS must provide value for money. Many pharmaceuticals achieve this by demonstrating equal effectiveness to an already listed pharmaceutical and requesting the same price as this comparator; that is, listing on a cost-minimisation basis. When the comparator moves off-patent, the price of the still-patented pharmaceutical is protected, whereas the off-patent drug is subject to price disclosure and often steep price reductions. What does this paper add? This paper adds to recent evidence on the costs to government of paying different prices for two or more pharmaceuticals that are equally effective. Between 2008 and 2011, the direct comparators for 68 pharmaceuticals listed on a cost-minimisation basis have moved onto the price disclosure list. Across 12 of these listings, the potential cost savings in the 10 months to April 2015 were A$73million. What are the implications for practitioners? The PBS costs the Australian government over A$9 billion per year. Annual savings over A$500million per year could be achieved by maintaining cost-minimisation across equally effective pharmaceuticals. This would improve the efficiency of the PBS at no risk to patients. Legislation is required to remove the existing F1 and F2 categorisation of listed pharmaceuticals, but the proposed changes would remove the need for therapeutic group premiums and simplify the pricing of PBS items.

Public-Private Ventures for Morale, Welfare, and Recreation Activities. A Solution to the Loss of Appropriated Funds. Volume 6. Appendices M and N

DTIC Science & Technology

1990-07-01

shall be extruded from non-yellowing marine grade vinyl, CS230-60 Henderson Marine Supply item No. 302 or approved equal, B-34 S-4 installed...This includes sailing lessons, snack bar prices, amusements, and pro shop merchandise. Such price flexibility should enable the Concessioner to provide...be free to determine the pricing for services and merchandise not related to slips and boat rentals. This includes sailing lessons, snack bar prices

The effect of price reduction on salad bar purchases at a corporate cafeteria.

PubMed

Kottke, Thomas E; Pronk, Nicolaas P; Katz, Abigail S; Tillema, Juliana O; Flottemesch, Thomas J

2013-01-01

The objective of this study was to determine the effect of a price reduction on salad bar purchases in a corporate cafeteria. We reduced the price of salad bar purchases by 50% during March 2012 and analyzed sales data by month for February through June 2012. We also conducted an anonymous survey. Salad bar sales by weight more than tripled during the price reduction and returned to baseline afterward. Survey respondents reported that the high price of salad relative to other choices is a barrier to purchases. Policies that make the price of salads equal to other choices in cafeterias may significantly increase healthful food consumption.

Price regulation and generic competition in the pharmaceutical market.

PubMed

Dalen, Dag Morten; Strøm, Steinar; Haabeth, Tonje

2006-09-01

In March 2003 the Norwegian government implemented yardstick-based price regulation schemes on a selection of drugs subjected to generic competition. The retail price cap, termed the "index price," on a drug (chemical substance) was set equal to the average of the three lowest producer prices on that drug, plus a fixed wholesale and retail margin. This is supposed to lower barriers of entry for generic drugs and to trigger price competition. Using monthly data over the period 1998-2004 for the six drugs (chemical entities) included in the index price system, we estimate a structural model enabling us to examine the impact of the reform on both demand and market power. Our results suggest that the index price helped to increase the market shares of generic drugs and succeeded in triggering price competition.

76 FR 56433 - Loveland Area Projects-Western Area Colorado Missouri Balancing Authority-Rate Order No. WAPA-155

Federal Register 2010, 2011, 2012, 2013, 2014

2011-09-13

... settled (minimum 4 MW) of metered load settled using WACM hourly pricing with no using WACM hourly pricing... than 7.5% (minimum pricing in no-penalty band. Customer 10 MW) of metered load settled using imbalance... or equal to 0.5 percent of its hourly average load, no Regulation Service charges will be assessed by...

Toward Equality Through Employment

ERIC Educational Resources Information Center

Lekachman, Robert

1974-01-01

An indication of the rearrangements of power, privilege, income and wealth distribution that are necessary for the establishment of full employment with price stability; involving policies of guaranteed public service jobs, income maintenance, prices and wages controls, a redistributive taxation system, and the eventual "socialization of…

Prices need no preferences: social trends determine decisions in experimental markets for pain relief.

PubMed

Vlaev, Ivo; Seymour, Ben; Chater, Nick; Winston, Joel S; Yoshida, Wako; Wright, Nicholas; Symmonds, Mkael; Dolan, Ray

2014-01-01

A standard view in health economics is that, although there is no market that determines the "prices" for health states, people can nonetheless associate health states with monetary values (or other scales, such as quality adjusted life year [QALYs] and disability adjusted life year [DALYs]). Such valuations can be used to shape health policy, and a major research challenge is to elicit such values from people; creating experimental "markets" for health states is a theoretically attractive way to address this. We explore the possibility that this framework may be fundamentally flawed-because there may not be any stable values to be revealed. Instead, perhaps people construct ad hoc values, influenced by contextual factors, such as the observed decisions of others. The participants bid to buy relief from equally painful electrical shocks to the leg and arm in an experimental health market based on an interactive second-price auction. Thirty subjects were randomly assigned to two experimental conditions where the bids by "others" were manipulated to follow increasing or decreasing price trends for one, but not the other, pain. After the auction, a preference test asked the participants to choose which pain they prefer to experience for a longer duration. Players remained indifferent between the two pain-types throughout the auction. However, their bids were differentially attracted toward what others bid for each pain, with overbidding during decreasing prices and underbidding during increasing prices. Health preferences are dissociated from market prices, which are strongly referenced to others' choices. This suggests that the price of health care in a free-market has the capacity to become critically detached from people's underlying preferences. 2014 APA, all rights reserved

Adjusting for Input Price Differences across School Districts: A Comparison of Alternative Techniques.

ERIC Educational Resources Information Center

Wentzler, Nancy

1981-01-01

Measures relative differences in the supply price of teacher inputs (that is, the cost of teacher salaries) so as to provide state aid payments that will equalize real resources per pupil across school districts. Highlights a simultaneous equations model. (Author/JM)

Factors affecting the entry of for-profit providers into a price regulated market for formal long-term care services: a case study from Japan.

PubMed

Tokunaga, Mutsumi; Hashimoto, Hideki

2013-01-01

While the distinct behaviors of for-profit and non-profit providers in the healthcare market have been compared in the economic literature, their choices regarding market entry and exit have only recently been debated. Since 2000, when public Long-Term Care Insurance was introduced in Japan, for-profit providers have been able to provide formal long-term homecare services. The aim of this study is to determine which factors have affected market entry of for-profit providers under price regulation and in competition with existing non-profit providers. We used nation-wide panel data from 2002 to 2010, aggregated at the level of local public insurers (n = 1557), a basic area unit of service provision. The number of for-profit providers per elderly population in the area unit was regressed against factors related to local demand and service costs using first-difference linear regression, a fixed effects model, and Tobit regression for robustness checking. Results showed that demand (the number of eligible care recipients) and cost factors (population density and minimum wage) significantly influenced for-profit providers' choice of market entry. These findings indicate that for-profit providers will strategically choose a local market for maximizing profit. We believe that price regulation should be redesigned to incorporate quality of care and market conditions, regardless of the profit status of the providers, to ensure equal access to efficient delivery of long-term care across all regions. Copyright © 2012 Elsevier Ltd. All rights reserved.

7 CFR 1126.53 - Announcement of class prices, component prices, and advanced pricing factors.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1126.53 Section 1126.53 Agriculture Regulations of the Department of Agriculture... class prices, component prices, and advanced pricing factors. See § 1000.53. ...

7 CFR 1030.53 - Announcement of class prices, component prices, and advanced pricing factors.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1030.53 Section 1030.53 Agriculture Regulations of the Department of Agriculture... of class prices, component prices, and advanced pricing factors. See § 1000.53. ...

7 CFR 1033.53 - Announcement of class prices, component prices, and advanced pricing factors.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1033.53 Section 1033.53 Agriculture Regulations of the Department of Agriculture... class prices, component prices, and advanced pricing factors. See § 1000.53. ...

7 CFR 1005.53 - Announcement of class prices, component prices, and advanced pricing factors.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1005.53 Section 1005.53 Agriculture Regulations of the Department of Agriculture... class prices, component prices, and advanced pricing factors. See § 1000.53. ...

7 CFR 1032.53 - Announcement of class prices, component prices, and advanced pricing factors.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1032.53 Section 1032.53 Agriculture Regulations of the Department of Agriculture... class prices, component prices, and advanced pricing factors. See § 1000.53. ...

7 CFR 1006.53 - Announcement of class prices, component prices, and advanced pricing factors.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1006.53 Section 1006.53 Agriculture Regulations of the Department of Agriculture... class prices, component prices, and advanced pricing factors. See § 1000.53. ...

7 CFR 1001.53 - Announcement of class prices, component prices, and advanced pricing factors.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1001.53 Section 1001.53 Agriculture Regulations of the Department of Agriculture... class prices, component prices, and advanced pricing factors. See § 1000.53. ...

7 CFR 1131.53 - Announcement of class prices, component prices, and advanced pricing factors.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1131.53 Section 1131.53 Agriculture Regulations of the Department of Agriculture... class prices, component prices, and advanced pricing factors. See § 1000.53. ...

7 CFR 1007.53 - Announcement of class prices, component prices, and advanced pricing factors.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1007.53 Section 1007.53 Agriculture Regulations of the Department of Agriculture... class prices, component prices, and advanced pricing factors. See § 1000.53. ...

17 CFR 34.2 - Definitions.

Code of Federal Regulations, 2012 CFR

2012-04-01

... decomposed into an option payout or payouts, is measured by the absolute net value of the put option premia with strike prices less than or equal to the reference price plus the absolute net value of the call... which a commodity-dependent payment becomes non-zero, or, in the case where two potential reference...

17 CFR 34.2 - Definitions.

Code of Federal Regulations, 2013 CFR

2013-04-01

... decomposed into an option payout or payouts, is measured by the absolute net value of the put option premia with strike prices less than or equal to the reference price plus the absolute net value of the call... which a commodity-dependent payment becomes non-zero, or, in the case where two potential reference...

17 CFR 34.2 - Definitions.

Code of Federal Regulations, 2011 CFR

2011-04-01

... decomposed into an option payout or payouts, is measured by the absolute net value of the put option premia with strike prices less than or equal to the reference price plus the absolute net value of the call... which a commodity-dependent payment becomes non-zero, or, in the case where two potential reference...

17 CFR 34.2 - Definitions.

Code of Federal Regulations, 2010 CFR

2010-04-01

... decomposed into an option payout or payouts, is measured by the absolute net value of the put option premia with strike prices less than or equal to the reference price plus the absolute net value of the call... which a commodity-dependent payment becomes non-zero, or, in the case where two potential reference...

17 CFR 34.2 - Definitions.

Code of Federal Regulations, 2014 CFR

2014-04-01

... decomposed into an option payout or payouts, is measured by the absolute net value of the put option premia with strike prices less than or equal to the reference price plus the absolute net value of the call... which a commodity-dependent payment becomes non-zero, or, in the case where two potential reference...

Unit Price and Choice in a Token-Reinforcement Context

ERIC Educational Resources Information Center

Foster, Theresa A.; Hackenberg, Timothy D.

2004-01-01

Pigeons were exposed to multiple and concurrent second-order schedules of token reinforcement, with stimulus lights serving as token reinforcers. Tokens were produced and exchanged for food according to various fixed-ratio schedules, yielding equal and unequal unit prices (responses per unit food delivery). On one schedule (termed the "standard…

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

Code of Federal Regulations, 2010 CFR

2010-01-01

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

7 CFR 1124.50 - Class prices, component prices, and advanced pricing factors.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing factors. 1124.50 Section 1124.50 Agriculture Regulations of the Department of Agriculture (Continued... prices, and advanced pricing factors. See § 1000.50. ...

7 CFR 1124.53 - Announcement of class prices, component prices, and advanced pricing factors.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1124.53 Section 1124.53 Agriculture Regulations of the Department of Agriculture... Announcement of class prices, component prices, and advanced pricing factors. See § 1000.53. ...

Switching insurer in the Irish voluntary health insurance market: determinants, incentives, and risk equalization.

PubMed

Keegan, Conor; Teljeur, Conor; Turner, Brian; Thomas, Steve

2016-09-01

The determinants of consumer mobility in voluntary health insurance markets providing duplicate cover are not well understood. Consumer mobility can have important implications for competition. Consumers should be price-responsive and be willing to switch insurer in search of the best-value products. Moreover, although theory suggests low-risk consumers are more likely to switch insurer, this process should not be driven by insurers looking to attract low risks. This study utilizes data on 320,830 VHI healthcare policies due for renewal between August 2013 and June 2014. At the time of renewal, policyholders were categorized as either 'switchers' or 'stayers', and policy information was collected for the prior 12 months. Differences between these groups were assessed by means of logistic regression. The ability of Ireland's risk equalization scheme to account for the relative attractiveness of switchers was also examined. Policyholders were price sensitive (OR 1.052, p < 0.01), however, price-sensitivity declined with age. Age (OR 0.971; p < 0.01) and hospital utilization (OR 0.977; p < 0.01) were both negatively associated with switching. In line with these findings, switchers were less costly than stayers for the 12 months prior to the switch/renew decision for single person (difference in average cost = €540.64) and multiple-person policies (difference in average cost = €450.74). Some cost differences remain for single-person policies following risk equalization (difference in average cost = €88.12). Consumers appear price-responsive, which is important for competition provided it is based on correct incentives. Risk equalization payments largely eliminated the profitable status of switchers, although further refinements may be required.

An empirical analysis of cigarette demand in Argentina

PubMed Central

Martinez, Eugenio; Mejia, Raul; Pérez-Stable, Eliseo J

2014-01-01

Objective To estimate the long-term and short-term effects on cigarette demand in Argentina based on changes in cigarette price and income per person >14 years old. Method Public data from the Ministry of Economics and Production were analysed based on monthly time series data between 1994 and 2010. The econometric analysis used cigarette consumption per person >14 years of age as the dependent variable and the real income per person >14 years old and the real average price of cigarettes as independent variables. Empirical analyses were done to verify the order of integration of the variables, to test for cointegration to capture the long-term effects and to capture the short-term dynamics of the variables. Results The demand for cigarettes in Argentina was affected by changes in real income and the real average price of cigarettes. The long-term income elasticity was equal to 0.43, while the own-price elasticity was equal to −0.31, indicating a 10% increase in the growth of real income led to an increase in cigarette consumption of 4.3% and a 10% increase in the price produced a fall of 3.1% in cigarette consumption. The vector error correction model estimated that the short-term income elasticity was 0.25 and the short-term own-price elasticity of cigarette demand was −0.15. A simulation exercise showed that increasing the price of cigarettes by 110% would maximise revenues and result in a potentially large decrease in total cigarette consumption. Conclusion Econometric analyses of cigarette consumption and their relationship with cigarette price and income can provide valuable information for developing cigarette price policy. PMID:23760657

An empirical analysis of cigarette demand in Argentina.

PubMed

Martinez, Eugenio; Mejia, Raul; Pérez-Stable, Eliseo J

2015-01-01

To estimate the long-term and short-term effects on cigarette demand in Argentina based on changes in cigarette price and income per person >14 years old. Public data from the Ministry of Economics and Production were analysed based on monthly time series data between 1994 and 2010. The econometric analysis used cigarette consumption per person >14 years of age as the dependent variable and the real income per person >14 years old and the real average price of cigarettes as independent variables. Empirical analyses were done to verify the order of integration of the variables, to test for cointegration to capture the long-term effects and to capture the short-term dynamics of the variables. The demand for cigarettes in Argentina was affected by changes in real income and the real average price of cigarettes. The long-term income elasticity was equal to 0.43, while the own-price elasticity was equal to -0.31, indicating a 10% increase in the growth of real income led to an increase in cigarette consumption of 4.3% and a 10% increase in the price produced a fall of 3.1% in cigarette consumption. The vector error correction model estimated that the short-term income elasticity was 0.25 and the short-term own-price elasticity of cigarette demand was -0.15. A simulation exercise showed that increasing the price of cigarettes by 110% would maximise revenues and result in a potentially large decrease in total cigarette consumption. Econometric analyses of cigarette consumption and their relationship with cigarette price and income can provide valuable information for developing cigarette price policy. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://group.bmj.com/group/rights-licensing/permissions.

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

Code of Federal Regulations, 2010 CFR

2010-01-01

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

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

Code of Federal Regulations, 2010 CFR

2010-01-01

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

7 CFR 1126.50 - Class prices, component prices, and advanced pricing factors.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing factors. 1126.50 Section 1126.50 Agriculture Regulations of the Department of Agriculture (Continued..., and advanced pricing factors. See § 1000.50. ...

7 CFR 1131.50 - Class prices, component prices, and advanced pricing factors.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing factors. 1131.50 Section 1131.50 Agriculture Regulations of the Department of Agriculture (Continued..., and advanced pricing factors. See § 1000.50. ...

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

Code of Federal Regulations, 2010 CFR

2010-01-01

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

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

Code of Federal Regulations, 2010 CFR

2010-01-01

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

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

Code of Federal Regulations, 2010 CFR

2010-01-01

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

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

Code of Federal Regulations, 2010 CFR

2010-01-01

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

75 FR 41914 - Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Proposed Rule...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-07-19

... consolidated last sale price by the same specified percentage. The numerical percentage proposed to be used in the Trading Collar price calculations will be equal to the appropriate ``numerical guideline... Collars will automatically be adjusted to match any future changes in the numerical guidelines in NYSE...

Committed to High-Quality Education for All Children: An Interview with Hugh Price.

ERIC Educational Resources Information Center

Goldberg, Mark F.

2000-01-01

Hugh Price has dedicated his career to achieving racial equality. The president of the National Urban League stresses each child's right to a high-quality preschool education, highly qualified teachers with high expectations, access to challenging courses of study, and organization of communities for learning, not just maintaining order. (MLH)

48 CFR 852.236-82 - Payments under fixed-price construction contracts (without NAS).

Code of Federal Regulations, 2013 CFR

2013-10-01

... “Network Analysis System (NAS).” Payments Under Fixed-Price Construction Contracts (APR 1984) The clause..., as applied to each branch, shall equal the total cost of such branch. The total cost of all branches... readily available for inspection and inventory by the resident engineer. (4) Such materials and/or...

48 CFR 852.236-82 - Payments under fixed-price construction contracts (without NAS).

Code of Federal Regulations, 2011 CFR

2011-10-01

... “Network Analysis System (NAS).” Payments Under Fixed-Price Construction Contracts (APR 1984) The clause..., as applied to each branch, shall equal the total cost of such branch. The total cost of all branches... readily available for inspection and inventory by the resident engineer. (4) Such materials and/or...

48 CFR 852.236-82 - Payments under fixed-price construction contracts (without NAS).

Code of Federal Regulations, 2012 CFR

2012-10-01

... “Network Analysis System (NAS).” Payments Under Fixed-Price Construction Contracts (APR 1984) The clause..., as applied to each branch, shall equal the total cost of such branch. The total cost of all branches... readily available for inspection and inventory by the resident engineer. (4) Such materials and/or...

48 CFR 852.236-82 - Payments under fixed-price construction contracts (without NAS).

Code of Federal Regulations, 2014 CFR

2014-10-01

... “Network Analysis System (NAS).” Payments Under Fixed-Price Construction Contracts (APR 1984) The clause..., as applied to each branch, shall equal the total cost of such branch. The total cost of all branches... readily available for inspection and inventory by the resident engineer. (4) Such materials and/or...

Gender Equality in Southeast Asia: A Comparative Study of Indonesia and the Philippines

DTIC Science & Technology

2017-09-01

thesis is a comparative study of how three important factors—social, political, and economic inclusion—affect gender equality and inequality in the...agenda, economic , political, social inclusion, Indonesia, Philippines 15. NUMBER OF PAGES 107 16. PRICE CODE 17. SECURITY CLASSIFICATION OF...important factors—social, political, and economic inclusion—affect gender equality and inequality in the Philippines and in Indonesia. The

Toward crustacean without chemicals: a descriptive analysis of consumer response using price comparisons

PubMed Central

Okpala, Charles Odilichukwu R.; Bono, Gioacchino; Pipitone, Vito; Vitale, Sergio; Cannizzaro, Leonardo

2016-01-01

Background To date, there seems to be limited-to-zero emphasis about how consumers perceive crustacean products subject to either chemical and or non-chemical preservative treatments. In addition, studies that investigated price comparisons of crustacean products subject to either chemical or chemical-free preservative methods seem unreported. Objective This study focused on providing some foundational knowledge about how consumers perceive traditionally harvested crustaceans that are either chemical-treated and or free of chemicals, incorporating price comparisons using a descriptive approach. Design The study design employed a questionnaire approach via interview using a computer-assisted telephone system and sampled 1,540 participants across five key locations in Italy. To actualize consumer sensitivity, ‘price’ was the focus given its crucial role as a consumption barrier. Prior to this, variables such as demographic characteristics of participants, frequency of purchasing, quality attributes/factors that limit the consumption of crustaceans were equally considered. Results By price comparisons, consumers are likely to favor chemical-free (modified atmosphere packaging) crustacean products amid a price increase of up to 15%. But, a further price increase such as by 25% could markedly damage consumers’ feelings, which might lead to a considerable number opting out in favor of either chemical-treated or other seafood products. Comparing locations, the studied variables showed no statistical differences (p>0.05). On the contrary, the response weightings fluctuated across the studied categories. Both response weightings and coefficient of variation helped reveal more about how responses deviated per variable categories. Conclusions This study has revealed some foundational knowledge about how consumers perceive traditionally harvested crustaceans that were either chemical-treated or subject to chemical-free preservative up to price sensitivity using Italy as a reference case, which is applicable to other parts of the globe. PMID:27799084

Economic analysis of the water demand in the hotels and restaurants sector: Shadow prices and elasticities

NASA Astrophysics Data System (ADS)

Angulo, Ana; Atwi, Majed; Barberán, Ramón; Mur, Jesús

2014-08-01

Despite the growing economic importance of tourism, and its impact on relative water shortage, little is known about the role that water plays in the productive process of hotels and restaurants and, therefore, the possible implications of water demand management policy for this sector. This study aims to fill this gap. It is based on the microdata of 676 firms in the sector, operating in the city of Zaragoza (Spain) for a 12 year period. Based on the Translog cost function, we estimate the shadow price of water in the short run and, from a long-run perspective, its direct price elasticity, its cross elasticities relative to labor, capital, and supplies, and its elasticity with respect to the level of output. The results obtained show that water provides sector firms returns that are on average higher than its price, although in the case of hotels the margin is really narrow. This situation provides policy makers with a margin for applying price increases without affecting the sector's viability, with some caution in the case of hotels. Water demand elasticity equals -0.38 in the case of hotels, but it is not significant in the case of restaurants and bar-cafes; hence, only in hotels is there potential for influencing water use patterns, encouraging the resource's conservation through pricing policy. Moreover, capital is a substitutive factor of water, and the elasticity of water with respect to output is 0.40, all of which should also be considered by policy makers in water resource management.

Pricing of medical devices under coverage uncertainty--a modelling approach.

PubMed

Girling, Alan J; Lilford, Richard J; Young, Terry P

2012-12-01

Product vendors and manufacturers are increasingly aware that purchasers of health care will fund new clinical treatments only if they are perceived to deliver value-for-money. This influences companies' internal commercial decisions, including the price they set for their products. Other things being equal, there is a price threshold, which is the maximum price at which the device will be funded and which, if its value were known, would play a central role in price determination. This paper examines the problem of pricing a medical device from the vendor's point of view in the presence of uncertainty about what the price threshold will be. A formal solution is obtained by maximising the expected value of the net revenue function, assuming a Bayesian prior distribution for the price threshold. A least admissible price is identified. The model can also be used as a tool for analysing proposed pricing policies when no formal prior specification of uncertainty is available. Copyright © 2011 John Wiley & Sons, Ltd.

Hospital prices and market structure in the hospital and insurance industries.

PubMed

Moriya, Asako S; Vogt, William B; Gaynor, Martin

2010-10-01

There has been substantial consolidation among health insurers and hospitals, recently, raising questions about the effects of this consolidation on the exercise of market power. We analyze the relationship between insurer and hospital market concentration and the prices of hospital services. We use a national US dataset containing transaction prices for health care services for over 11 million privately insured Americans. Using three years of panel data, we estimate how insurer and hospital market concentration are related to hospital prices, while controlling for unobserved market effects. We find that increases in insurance market concentration are significantly associated with decreases in hospital prices, whereas increases in hospital concentration are non-significantly associated with increases in prices. A hypothetical merger between two of five equally sized insurers is estimated to decrease hospital prices by 6.7%.

A stochastic electricity market clearing formulation with consistent pricing properties

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

Zavala, Victor M.; Kim, Kibaek; Anitescu, Mihai

We argue that deterministic market clearing formulations introduce arbitrary distortions between day-ahead and expected real-time prices that bias economic incentives. We extend and analyze a previously proposed stochastic clearing formulation in which the social surplus function induces penalties between day-ahead and real-time quantities. We prove that the formulation yields price bounded price distortions, and we show that adding a similar penalty term to transmission flows and phase angles ensures boundedness throughout the network. We prove that when the price distortions are zero, day-ahead quantities equal a quantile of their real-time counterparts. The undesired effects of price distortions suggest that stochasticmore » settings provide significant benefits over deterministic ones that go beyond social surplus improvements. Finally, we propose additional metrics to evaluate these benefits.« less

A stochastic electricity market clearing formulation with consistent pricing properties

DOE PAGES

Zavala, Victor M.; Kim, Kibaek; Anitescu, Mihai; ...

2017-03-16

We argue that deterministic market clearing formulations introduce arbitrary distortions between day-ahead and expected real-time prices that bias economic incentives. We extend and analyze a previously proposed stochastic clearing formulation in which the social surplus function induces penalties between day-ahead and real-time quantities. We prove that the formulation yields price bounded price distortions, and we show that adding a similar penalty term to transmission flows and phase angles ensures boundedness throughout the network. We prove that when the price distortions are zero, day-ahead quantities equal a quantile of their real-time counterparts. The undesired effects of price distortions suggest that stochasticmore » settings provide significant benefits over deterministic ones that go beyond social surplus improvements. Finally, we propose additional metrics to evaluate these benefits.« less

Set the Wrong Tuition and You'll Pay a Price

ERIC Educational Resources Information Center

Strauss, David W.

2006-01-01

For all of the attention rising college costs continue to receive, it is striking how poorly informed many decision makers are when it comes to setting tuition and fees. And it's equally astounding that so many institutions are learning the consequences of pricing decisions undertaken solely by trial and error when a wrong judgment can affect…

Should Consumers Be Priced Out of Pollution-Permit Markets?

ERIC Educational Resources Information Center

Smith, Stefani C.; Yates, Andrew J.

2003-01-01

Presents a simple diagrammatic exposition of a pollution-permit market in which firms that generate pollution and consumers who are harmed by pollution are allowed to purchase permits at a single market price. Illustrates that the market equilibrium is efficient only if the endowment of permits is equal to the efficient level of pollution. (JEH)

[The price-based certainty of purchase influences consumer behavior for discount].

PubMed

Arihara, Katsuhiko; Ariga, Atsunori; Furuya, Takeshi

2016-04-01

Tversky & Kahneman (1981) reported that most participants decided to drive when they could save money on a low-price good as compared to when they could save on a high-price good, even though the discount prices were same. Although this irrational decision making has been interpreted as a rate-dependent estimation of value (prospect theory), this study newly proposes that it can be explained by the certainty of purchase based on the price of goods. Experiment 1 replicated the previously reported difference in decision making, and additionally demonstrated that participants' certainty of purchase was lower for a high- than a low-price good. When it was emphasized that participants' intention to purchase high- and low-price goods were equally sure, decision making did not significantly differ (Experiment 2). Furthermore, decision making differed based only on the certainty of purchase even,when prices of goods were-same (Experiment 3). Consumers' decision making may be rather rational, depending straightforwardly on the certainty of purchase that is susceptible to price.

Loss Aversion and Time-Differentiated Electricity Pricing

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

Spurlock, C. Anna

2015-06-01

I develop a model of loss aversion over electricity expenditure, from which I derive testable predictions for household electricity consumption while on combination time-of-use (TOU) and critical peak pricing (CPP) plans. Testing these predictions results in evidence consistent with loss aversion: (1) spillover effects - positive expenditure shocks resulted in significantly more peak consumption reduction for several weeks thereafter; and (2) clustering - disproportionate probability of consuming such that expenditure would be equal between the TOUCPP or standard flat-rate pricing structures. This behavior is inconsistent with a purely neoclassical utility model, and has important implications for application of time-differentiated electricitymore » pricing.« less

7 CFR 252.2 - Definitions.

Code of Federal Regulations, 2011 CFR

2011-01-01

.... Donated food value return system means a system used by a processor or distributor to reduce the price of... issued to a distributor in an amount equal to the NCP contract value of donated foods contained in an end... recipient agency in an amount equal to the NCP contract value of donated foods contained in an end product...

Why do rich countries prefer free trade over free migration? The role of the modern welfare state.

PubMed

Wellisch, D; Walz, U

1998-01-01

"According to traditional trade theory (Heckscher-Ohlin), free trade and free migration are equivalent measures of economic integration leading both to an equalization of factor prices. This prediction is in sharp opposition to the observed preference of rich countries for free trade over free migration. We provide an explanation for this inconsistency: the redistribution policies in the countries. Social welfare in countries with a relatively small number of low-skilled native workers is higher with free trade than with free migration due to redistribution of income towards immigrating workers." excerpt

Accounting for Water Insecurity in Modeling Domestic Water Demand

NASA Astrophysics Data System (ADS)

Galaitsis, S. E.; Huber-lee, A. T.; Vogel, R. M.; Naumova, E.

2013-12-01

Water demand management uses price elasticity estimates to predict consumer demand in relation to water pricing changes, but studies have shown that many additional factors effect water consumption. Development scholars document the need for water security, however, much of the water security literature focuses on broad policies which can influence water demand. Previous domestic water demand studies have not considered how water security can affect a population's consumption behavior. This study is the first to model the influence of water insecurity on water demand. A subjective indicator scale measuring water insecurity among consumers in the Palestinian West Bank is developed and included as a variable to explore how perceptions of control, or lack thereof, impact consumption behavior and resulting estimates of price elasticity. A multivariate regression model demonstrates the significance of a water insecurity variable for data sets encompassing disparate water access. When accounting for insecurity, the R-squaed value improves and the marginal price a household is willing to pay becomes a significant predictor for the household quantity consumption. The model denotes that, with all other variables held equal, a household will buy more water when the users are more water insecure. Though the reasons behind this trend require further study, the findings suggest broad policy implications by demonstrating that water distribution practices in scarcity conditions can promote consumer welfare and efficient water use.

75 FR 29555 - Medicare Program; Medicare Coverage Gap Discount Program Model Manufacturer Agreement and...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-05-26

... Center Hotel, 101 West Fayette Street, Baltimore, MD 21201. Registration and Special Accommodations... percent of the Part D negotiated price for covered Part D claims above the ICL until their TrOOP costs... of an amount equal to the negotiated price (as defined in section 1860D- 14A(g)(6) of the Act...

26 CFR 1.1032-1 - Disposition by a corporation of its own capital stock.

Code of Federal Regulations, 2010 CFR

2010-04-01

... involved. For example, the receipt by a corporation of the subscription price of shares of its stock upon... corporation of its own capital stock. (a) The disposition by a corporation of shares of its own stock... or issue price be equal to, in excess of, or less than, the par or stated value of such stock. Also...

26 CFR 15a.453-1 - Installment method reporting for sales of real property and casual sales of personal property.

Code of Federal Regulations, 2014 CFR

2014-04-01

... the contingent price sale agreement at a rate equal to or greater than the applicable prescribed test... stated below the applicable test rate, or interest is stated under a payment recharacterization provision... section 483 test rate, there is no internal interest under the agreement. The stated maximum selling price...

75 FR 8774 - Self-Regulatory Organizations; NYSE Amex LLC; Notice of Filing of Proposed Rule Change Amending...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-02-25

... limits were introduced as a means of forestalling the potential manipulation of an equity's price by... significantly reduced concerns of market manipulation or disruption in the underlying markets. Shares in these... values on a per-share basis, the option strike prices result in being equal to \\1/ 100\\th of the...

Preliminary appraisal of hydrogen and methane fuel in a Mach 2.7 supersonic transport

NASA Technical Reports Server (NTRS)

Whitlow, J. B., Jr.; Weber, R. J.; Civinskas, K. C.

1972-01-01

The higher heating value of hydrogen relative to JP fuel is estimated to reduce fuel weight by three fold and gross weight by 40 percent for comparable designed airplanes of equal payload and range. Engine design parameters were varied to determine the influence of lower noise goals on gross weight and direct operating cost. At current fuel prices, the DOC of a hydrogen airplane would be much higher than that of a JP airplane. A methane airplane could offer an 8.5-percent lower KOC than JP. But future shortages may escalate the prices of both JP and methane, whereas the price of hydrogen manufactured hydrolytically could be reduced from present levels. If in the future all three fuels are postulated to have equal costs per unit of energy, the DOC for hydrogen could be as much as 20 percent below that for JP on the reference 4000-nautical-mile mission. Longer ranges or lower noise requirements would improve the advantage of hydrogen.

Internal conflict, market uniformity, and transparency in price competition between teams☆

PubMed Central

Kurschilgen, Michael; Morell, Alexander; Weisel, Ori

2017-01-01

The way profits are divided within successful teams imposes different degrees of internal conflict. We experimentally examine how the level of internal conflict, and whether such conflict is transparent to other teams, affects teams' ability to compete vis-à-vis each other, and, consequently, market outcomes. Participants took part in a repeated Bertrand duopoly game between three-player teams which had either the same or different level of internal conflict (uniform vs. mixed). Profit division was either private-pay (high conflict; each member received her own asking price) or equal-pay (low conflict; profits were divided equally). We find that internal conflict leads to (tacit) coordination on high prices in uniform private-pay duopolies, but places private-pay teams at a competitive disadvantage in mixed duopolies. Competition is softened by transparency in uniform markets, but intensified in mixed markets. We propose an explanation of the results and discuss implications for managers and policy makers. (D43, L22, C92) PMID:29180831

The Effect of Forest Management Strategy on Carbon Storage and Revenue in Western Washington: A Probabilistic Simulation of Tradeoffs.

PubMed

Fischer, Paul W; Cullen, Alison C; Ettl, Gregory J

2017-01-01

The objectives of this study are to understand tradeoffs between forest carbon and timber values, and evaluate the impact of uncertainty in improved forest management (IFM) carbon offset projects to improve forest management decisions. The study uses probabilistic simulation of uncertainty in financial risk for three management scenarios (clearcutting in 45- and 65-year rotations and no harvest) under three carbon price schemes (historic voluntary market prices, cap and trade, and carbon prices set to equal net present value (NPV) from timber-oriented management). Uncertainty is modeled for value and amount of carbon credits and wood products, the accuracy of forest growth model forecasts, and four other variables relevant to American Carbon Registry methodology. Calculations use forest inventory data from a 1,740 ha forest in western Washington State, using the Forest Vegetation Simulator (FVS) growth model. Sensitivity analysis shows that FVS model uncertainty contributes more than 70% to overall NPV variance, followed in importance by variability in inventory sample (3-14%), and short-term prices for timber products (8%), while variability in carbon credit price has little influence (1.1%). At regional average land-holding costs, a no-harvest management scenario would become revenue-positive at a carbon credit break-point price of $14.17/Mg carbon dioxide equivalent (CO 2 e). IFM carbon projects are associated with a greater chance of both large payouts and large losses to landowners. These results inform policymakers and forest owners of the carbon credit price necessary for IFM approaches to equal or better the business-as-usual strategy, while highlighting the magnitude of financial risk and reward through probabilistic simulation. © 2016 Society for Risk Analysis.

27 CFR 72.40 - Acquisition for official use and sale for account of petitioner in allowed petitions.

Code of Federal Regulations, 2011 CFR

2011-04-01

... Products and Firearms ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE TREASURY (CONTINUED... delegate pays to the petitioner, out of the proper appropriation, an amount equal to the balance, if any... the proper appropriation, an amount equal to the balance, if any, of the selling price after deduction...

27 CFR 72.40 - Acquisition for official use and sale for account of petitioner in allowed petitions.

Code of Federal Regulations, 2010 CFR

2010-04-01

... Products and Firearms ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE TREASURY (CONTINUED... delegate pays to the petitioner, out of the proper appropriation, an amount equal to the balance, if any... the proper appropriation, an amount equal to the balance, if any, of the selling price after deduction...

Price and distribution policies in healthcare marketing in Romania.

PubMed

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

2017-01-01

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

Price and distribution policies in healthcare marketing in Romania

PubMed Central

Coculescu, BI; Coculescu, EC; Purcărea, VL

2017-01-01

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

Managed care strategy.

PubMed

Maguire, E F

1996-01-01

Managed care is, in reality, managed payment delivered through exclusive price-competitive contracts that require healthcare providers to reorganize to participate as equals in the division of premium dollars.

7 CFR 1437.11 - Average market price and payment factors.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 7 Agriculture 10 2010-01-01 2010-01-01 false Average market price and payment factors. 1437.11... ASSISTANCE PROGRAM General Provisions § 1437.11 Average market price and payment factors. (a) An average... average market price by the applicable payment factor (i.e., harvested, unharvested, or prevented planting...

A New Labor Theory of Value for Rational Planning Through Use of the Bourgeois Profit Rate

PubMed Central

Weizsäcker, C. C. Von; Samuelson, Paul A.

1971-01-01

To maximaze steady-state per capita consumptions, goods should be valued at their “synchronized labor requirement costs”, which are shown to deviate from Marx's schemata of “values” but to coincide with bourgeois prices calculated at dated labor requirements, marked-up by compound interest, at a profit or interest rate equal to the system's rate of exponential growth. With capitalists saving all their incomes for future profits, workers get all there is to get. Departures from such an exogenous, or endogenous, golden-rule state are the rule in history rather than the exception. In the case of exponential labor-augmenting change, it is shown that competitive prices will equal historically embodied labor content. PMID:16591926

Effect of day-night cycle on distribution of food intake and economic choice among imposed food opportunities in mice.

PubMed

Minaya, Dulce M; Rowland, Neil E; Robertson, Kimberly L

2016-10-01

We have shown previously that mice given access to four discrete feeding opportunities (FOs) per day show a characteristic sequence of sizes across ordinal FOs. The purpose of the present experiments was to determine the relative contributions of external and internal factors on the sequencing of FO size. The external factors were the light:dark Zeitgeber and the cost of food, imposed via different fixed unit prices (FUP) in a closed operant economy, and the internal factors were signals relating to energy status including time since last food and weight loss. In the first experiment, mice were given 4 FOs spaced 4-h apart, but with the timing of the FOs relative to the Zeitgeber altered by a 4-h Zeitgeber advance or delay of the cycle. Food intake, and associated body weight, declined as price increased, but the temporal order of FO size was invariant within a Zeitgeber condition. The Zeitgeber advanced group showed clear evidence of a shift in meal sequence relating to the light:dark cycle. Thus, external factors seem to be a more important determinant of total intake and sequencing than internal factors. In the second experiment, mice were given the choice between continuous costly (CC) and intermittent inexpensive (II) food. II food was available for four-15min intervals every 4-h, and the timing of the 15min intervals was varied relative to the Zeitgeber cycle. In spite of a 20-fold difference in price between CC and II food, mice took approximately equal amounts from each, and all food intake took place during the dark phase. Mice consumed II food only if it was available during the dark phase. Food intake was strongly linked to the light:dark cycle, largely independent of food cost. Copyright © 2016 Elsevier Inc. All rights reserved.

An overview of crystalline silicon solar cell technology: Past, present, and future

NASA Astrophysics Data System (ADS)

Sopian, K.; Cheow, S. L.; Zaidi, S. H.

2017-09-01

Crystalline silicon (c-Si) solar cell, ever since its inception, has been identified as the only economically and environmentally sustainable renewable resource to replace fossil fuels. Performance c-Si based photovoltaic (PV) technology has been equal to the task. Its price has been reduced by a factor of 250 over last twenty years (from ˜ 76 USD to ˜ 0.3 USD); its market growth is expected to reach 100 GWP by 2020. Unfortunately, it is still 3-4 times higher than carbon-based fuels. With the matured PV manufacturing technology as it exists today, continuing price reduction poses stiff challenges. Alternate manufacturing approaches in combination with thin wafers, low (< 10 x) optical enhancement with Fresnel lenses, band-gap engineering for enhanced optical absorption, and newer, advanced solar cell configurations including partially transparent bifacial and back contact solar cells will be required. This paper will present a detailed, cost-based analysis of advanced solar cell manufacturing technologies aimed at higher (˜ 22 %) efficiency with existing equipment and processes.

Sociodemographic differences in fast food price sensitivity.

PubMed

Meyer, Katie A; Guilkey, David K; Ng, Shu Wen; Duffey, Kiyah J; Popkin, Barry M; Kiefe, Catarina I; Steffen, Lyn M; Shikany, James M; Gordon-Larsen, Penny

2014-03-01

Fiscal food policies (eg, taxation) are increasingly proposed to improve population-level health, but their impact on health disparities is unknown. To estimate subgroup-specific effects of fast food price changes on fast food consumption and cardiometabolic outcomes. Twenty-year follow-up (5 examinations) in a biracial US prospective cohort: Coronary Artery Risk Development in Young Adults (CARDIA) (1985/1986-2005/2006, baseline N = 5115). Participants were aged 18 to 30 years at baseline; design indicated equal recruitment by race (black vs white), educational attainment, age, and sex. Community-level price data from the Council for Community and Economic Research were temporally and geographically linked to study participants' home address at each examination. Participant-reported number of fast food eating occasions per week, body mass index (BMI), and homeostasis model assessment insulin resistance (HOMA-IR) from fasting glucose and insulin concentrations. Covariates included individual-level and community-level social and demographic factors. In repeated measures regression analysis, multivariable-adjusted associations between fast food price and consumption were nonlinear (quadratic, P < .001), with significant inverse estimated effects on consumption at higher prices; estimates varied according to race (interaction P = .04), income (P = .07), and education (P = .03). At the 10th percentile of price ($1.25/serving), blacks and whites had mean fast food consumption frequency of 2.20 (95% CI, 2.07-2.33) and 1.55 (1.45-1.65) times/wk, respectively, whereas at the 90th percentile of price ($1.53/serving), respective mean consumption estimates were 1.86 (1.75-1.97) and 1.50 (1.41-1.59) times/wk. We observed differential price effects on HOMA-IR (inverse for lower educational status only [interaction P = .005] and at middle income only [interaction P = .02]) and BMI (inverse for blacks, less education, and middle income; positive for whites, more education, and high income [all interaction P < .001]). We found greater fast food price sensitivity on fast food consumption and insulin resistance among sociodemographic groups that have a disproportionate burden of chronic disease. Our findings have implications for fiscal policy, particularly with respect to possible effects of fast food taxes among populations with diet-related health disparities.

Essays in Energy Economics

NASA Astrophysics Data System (ADS)

Spurlock, Cecily Anna

In this dissertation I explore two aspects of the economics of energy. The first focuses on consumer behavior, while the second focuses on market structure and firm behavior. In the first chapter, I demonstrate evidence of loss aversion in the behavior of households on two critical peak pricing experimental tariffs while participating in the California Statewide Pricing Pilot. I develop a model of loss aversion over electricity expenditure from which I derive two sets of testable predictions. First, I show that when there is a higher probability that a household is in the loss domain of their value function for the bill period, the more strongly they cut back peak consumption. Second, when prices are such that households are close to the kink in their value function - and would otherwise have expenditure skewed into the loss domain---I show evidence of disproportionate clustering at the kink. In essence this means that the occurrence of critical peak days did not only result in a reduction of peak consumption on that day, but also spilled over to further reduction of peak consumption on regular peak days for several weeks thereafter. This was similarly true when temperatures were high during high priced periods. This form of demand adjustment resulted in households experiencing bill-period expenditures equal to what they would have paid on the standard non-dynamic pricing tariff at a disproportionate rate. This higher number of bill periods with equal expenditure displaced bill periods in which they otherwise would have paid more than if they were on standard pricing. In the second chapter, I explore the effects of two simultaneous changes in minimum energy efficiency and Energy Star standards for clothes washers. Adapting the Mussa and Rosen (1978) and Ronnen (1991) second-degree price discrimination model, I demonstrate that clothes washer prices and menus adjusted to the new standards in patterns consistent with a market in which firms had been price discriminating. In particular, I show evidence of discontinuous price drops at the time the standards were imposed, driven largely by mid low efficiency segments of the market. The price discrimination model predicts this result. On the other hand, under perfect competition, prices should increase for these market segments. Additionally, new models proliferated in the highest efficiency market segment following the standard changes. Finally, I show that firms appeared to use different adaptation strategies at the two instances of the standards changing.

What factors affect the prices of low-priced U.S. solar PV systems?

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

Nemet, Gregory F.; O'Shaughnessy, Eric; Wiser, Ryan

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

What factors affect the prices of low-priced U.S. solar PV systems?

DOE PAGES

Nemet, Gregory F.; O'Shaughnessy, Eric; Wiser, Ryan; ...

2017-08-09

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

Two-part payments for the reimbursement of investments in health technologies.

PubMed

Levaggi, Rosella; Moretto, Michele; Pertile, Paolo

2014-04-01

The paper studies the impact of alternative reimbursement systems on two provider decisions: whether to adopt a technology whose provision requires a sunk investment cost and how many patients to treat with it. Using a simple economic model we show that the optimal pricing policy involves a two-part payment: a price equal to the marginal cost of the patient whose benefit of treatment equals the cost of provision, and a separate payment for the partial reimbursement of capital costs. Departures from this scheme, which are frequent in DRG tariff systems designed around the world, lead to a trade-off between the objective of making effective technologies available to patients and the need to ensure appropriateness in use. Copyright © 2013 Elsevier Ireland Ltd. All rights reserved.

Extraction of astaxanthin from microalgae: process design and economic feasibility study

NASA Astrophysics Data System (ADS)

Zgheib, Nancy; Saade, Roxana; Khallouf, Rindala; Takache, Hosni

2018-03-01

In this work, the process design and the economic feasibility of natural astaxanthin extraction fromHaematococcus pluvialisspecies have been reported. Complete process drawing of the process was first performed, and then the process was designed including five main steps being the harvesting process, the cell disruption, the spray drying, the supercritical CO2extraction and the anaerobic digestion. The major components of the facility would include sedimentation tanks, a disk stack centrifuge, a bed miller, a spray dryer, a multistage compressor, an extractor, a pasteurizer and a digester. All units have been sized assuming a 10 kg/h of dried biomass as a feedstock to produce nearly 2592 kg of astaxanthin per year. The investment payback time and the return on investment were all estimated for different market prices of astaxanthin. Based on the results the production process was found to become economically feasible for a market price higher than 1500/Kg. Also, a payback period of 1 year and an ROI equal to 113% was estimated for an astaxanthin market price equal to 6000/Kg.

Competitive Bidding in a Certain Class of Auctions

NASA Astrophysics Data System (ADS)

Johansson, Mathias

2006-11-01

We consider the problem of determining the amount to bid in a certain type of auctions in which customers submit one sealed bid. The bid reflects the price a customer is willing to pay for one unit of the offered goods. The auction is repeated and at each auction each customer requests a certain amount of goods, an amount that we call the capacity of the customer and that varies among customers and over time. At each auction, only the customer with the largest bid-capacity product obtains any goods. The price paid by the winner equals his/her bid-capacity product, and the amount of goods obtained in return equals the winner's capacity. The auction is repeated many times, with only limited information concerning winning bid-capacity products being announced to the customers. This situation is motivated in for example wireless communication networks in which a possible way of obtaining a desired service level is to use dynamic pricing and competitive bidding. In this application, the capacity is typically uncertain when the bid is made. We derive bidding rules and loss functions for a few typical service requirements.

A Linear City Model with Asymmetric Consumer Distribution

PubMed Central

Azar, Ofer H.

2015-01-01

The article analyzes a linear-city model where the consumer distribution can be asymmetric, which is important because in real markets this distribution is often asymmetric. The model yields equilibrium price differences, even though the firms’ costs are equal and their locations are symmetric (at the two endpoints of the city). The equilibrium price difference is proportional to the transportation cost parameter and does not depend on the good's cost. The firms' markups are also proportional to the transportation cost. The two firms’ prices will be equal in equilibrium if and only if half of the consumers are located to the left of the city’s midpoint, even if other characteristics of the consumer distribution are highly asymmetric. An extension analyzes what happens when the firms have different costs and how the two sources of asymmetry – the consumer distribution and the cost per unit – interact together. The model can be useful as a tool for further development by other researchers interested in applying this simple yet flexible framework for the analysis of various topics. PMID:26034984

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

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

Nemet, Gregory F.; O'Shaughnessy, Eric; Wiser, Ryan

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

Cryptocurrency price drivers: Wavelet coherence analysis revisited

PubMed Central

2018-01-01

Cryptocurrencies have experienced recent surges in interest and price. It has been discovered that there are time intervals where cryptocurrency prices and certain online and social media factors appear related. In addition it has been noted that cryptocurrencies are prone to experience intervals of bubble-like price growth. The hypothesis investigated here is that relationships between online factors and price are dependent on market regime. In this paper, wavelet coherence is used to study co-movement between a cryptocurrency price and its related factors, for a number of examples. This is used alongside a well-known test for financial asset bubbles to explore whether relationships change dependent on regime. The primary finding of this work is that medium-term positive correlations between online factors and price strengthen significantly during bubble-like regimes of the price series; this explains why these relationships have previously been seen to appear and disappear over time. A secondary finding is that short-term relationships between the chosen factors and price appear to be caused by particular market events (such as hacks / security breaches), and are not consistent from one time interval to another in the effect of the factor upon the price. In addition, for the first time, wavelet coherence is used to explore the relationships between different cryptocurrencies. PMID:29668765

Cryptocurrency price drivers: Wavelet coherence analysis revisited.

PubMed

Phillips, Ross C; Gorse, Denise

2018-01-01

Cryptocurrencies have experienced recent surges in interest and price. It has been discovered that there are time intervals where cryptocurrency prices and certain online and social media factors appear related. In addition it has been noted that cryptocurrencies are prone to experience intervals of bubble-like price growth. The hypothesis investigated here is that relationships between online factors and price are dependent on market regime. In this paper, wavelet coherence is used to study co-movement between a cryptocurrency price and its related factors, for a number of examples. This is used alongside a well-known test for financial asset bubbles to explore whether relationships change dependent on regime. The primary finding of this work is that medium-term positive correlations between online factors and price strengthen significantly during bubble-like regimes of the price series; this explains why these relationships have previously been seen to appear and disappear over time. A secondary finding is that short-term relationships between the chosen factors and price appear to be caused by particular market events (such as hacks / security breaches), and are not consistent from one time interval to another in the effect of the factor upon the price. In addition, for the first time, wavelet coherence is used to explore the relationships between different cryptocurrencies.

Food security in an era of economic volatility.

PubMed

Naylor, Rosamond L; Falcon, Walter P

2010-01-01

This article analyzes international commodity price movements, assesses food policies in response to price fluctuations, and explores the food security implications of price volatility on low-income groups. It focuses specifically on measurements, causes, and consequences of recent food price trends, variability around those trends, and price spikes. Combining these three components of price dynamics shows that the variation in real prices post-2000 was substantially greater than that in the 1980s and 1990s, and was approximately equal to the extreme volatility in commodity prices that was experienced in the 1970s. Macro policy, exchange rates, and petroleum prices were important determinants of price variability over 2005–2010, highlighting the new linkages between the agriculture-energy and agriculture-finance markets that affect the world food economy today. These linkages contributed in large part to misguided expectations and uncertainty that drove prices to their peak in 2008. The article also argues that there is a long-lasting effect of price spikes on food policy around the world, often resulting in self-sufficiency policies that create even more volatility in international markets. The efforts by governments to stabilize prices frequently contribute to even greater food insecurity among poor households, most of which are in rural areas and survive on the margin of net consumption and net production. Events of 2008—and more recently in 2010—underscore the impact of price variability for food security and the need for refocused policy approaches to prevent and mitigate price spikes.

17 CFR Appendix B to Part 151 - Examples of Bona Fide Hedging Transactions and Positions

Code of Federal Regulations, 2014 CFR

2014-04-01

... Processor A processes and refines the scrap to repay Bank B. Although Bank B has lent the silver, it is..., its net cash position is equal to long two million bushels of corn. To reduce its price risk...—will fall in value. Because the firm's net cash position is equal to long two million bushels of corn...

Managed care and shadow price.

PubMed

Ma, Ching-To A

2004-02-01

A managed-care company must decide on allocating resources of many services to many groups of enrollees. The profit-maximizing allocation rule is characterized. For each group, the marginal utilities across all services are equalized. The equilibrium has an enrollee group shadow price interpretation. The equilibrium spending allocation can be implemented by letting utilitarian physicians decide on service spending on an enrollee group subject to a budget for the group. Copyright 2003 John Wiley & Sons, Ltd.

Armed Services Pricing Manual (ASPM)

DTIC Science & Technology

1986-01-01

NOTES 14. ABSTRACT 15. SUBJECT TERMS 16. SECURITY CLASSIFICATION OF: 17. LIMITATION OF ABSTRACT Same as Report (SAR) 18. NUMBER OF PAGES 361...f. National security . g. Public interest. Two kinds of solicitations are equally acceptable: invitations for bids Fl3s), for sealed bidding, and...2.12 2-14 2-14 2-15 2-15 The objective of procurement is to secure needed supplies and services fr( nsi b I e at fair and reasonable prices calculated

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

Hartsock, J.H.; Gruy, H.J.

Fair market value has its origin in law and is defined as that price that a willing buyer will pay and a willing seller will sell at some point in time, with neither the buyer nor the seller under any compulsion to buy or sell, aid both having equal and reasonable knowledge of the facts. In reality, a perfect sale probably never occurs in which a willing buyer and a willing seller are under no compulsion to buy or sell and both are equally familiar with all the facts. Nonetheless, it is necessary to prepare fair market value estimates formore » oil and gas properties for the purpose of gift taxes, estate taxes, condemnation cases, mergers and divorce settlements. For the estimation of the fair market value of oil and gas properties, there are basically two approaches; namely, the income approach and the market data approach. The income approach requires the estimation of reserves, identification of their categories (proved, probable and possible), a detailed cash flow projection and the proper application of risk factors. The market data approach utilizes the comparable sales of properties The comparable sales approach is preferred, but for producing oil and gas properties it is difficult to identify sales comparable in net reserves, product prices, location, operating expenses, operator expertise, etc. Consequently, for proved, probable and possible reserves, the income approach has been accepted by the courts and is more generally applied. For nonproducing mineral interests the comparable sales approach is applied using multiples of lease bonuses in the area.« less

Modeling the coupled return-spread high frequency dynamics of large tick assets

NASA Astrophysics Data System (ADS)

Curato, Gianbiagio; Lillo, Fabrizio

2015-01-01

Large tick assets, i.e. assets where one tick movement is a significant fraction of the price and bid-ask spread is almost always equal to one tick, display a dynamics in which price changes and spread are strongly coupled. We present an approach based on the hidden Markov model, also known in econometrics as the Markov switching model, for the dynamics of price changes, where the latent Markov process is described by the transitions between spreads. We then use a finite Markov mixture of logit regressions on past squared price changes to describe temporal dependencies in the dynamics of price changes. The model can thus be seen as a double chain Markov model. We show that the model describes the shape of the price change distribution at different time scales, volatility clustering, and the anomalous decrease of kurtosis. We calibrate our models based on Nasdaq stocks and we show that this model reproduces remarkably well the statistical properties of real data.

Pricing and promotion effects on low-fat vending snack purchases: the CHIPS Study.

PubMed

French, S A; Jeffery, R W; Story, M; Breitlow, K K; Baxter, J S; Hannan, P; Snyder, M P

2001-01-01

This study examined the effects of pricing and promotion strategies on purchases of low-fat snacks from vending machines. Low-fat snacks were added to 55 vending machines in a convenience sample of 12 secondary schools and 12 worksites. Four pricing levels (equal price, 10% reduction, 25% reduction, 50% reduction) and 3 promotional conditions (none, low-fat label, low-fat label plus promotional sign) were crossed in a Latin square design. Sales of low-fat vending snacks were measured continuously for the 12-month intervention. Price reductions of 10%, 25%, and 50% on low-fat snacks were associated with significant increases in low-fat snack sales; percentages of low-fat snack sales increased by 9%, 39%, and 93%, respectively. Promotional signage was independently but weakly associated with increases in low-fat snack sales. Average profits per machine were not affected by the vending interventions. Reducing relative prices on low-fat snacks was effective in promoting lower-fat snack purchases from vending machines in both adult and adolescent populations.

Assessing the economic impacts of drought from the perspective of profit loss rate: a case study of the sugar industry in China

NASA Astrophysics Data System (ADS)

Wang, Y.; Lin, L.; Chen, H.

2015-07-01

Natural disasters have enormous impacts on human society, especially on the development of the economy. To support decision-making in mitigation and adaption to natural disasters, assessment of economic impacts is fundamental and of great significance. Based on a review of the literature on economic impact evaluation, this paper proposes a new assessment model of the economic impacts of droughts by using the sugar industry in China as a case study, which focuses on the generation and transfer of economic impacts along a simple value chain involving only sugarcane growers and a sugar-producing company. A perspective of profit loss rate is applied to scale economic impact. By using "with and without" analysis, profit loss is defined as the difference in profits between disaster-hit and disaster-free scenarios. To calculate profit, analysis of a time series of sugar price is applied. With the support of a linear regression model, an endogenous trend in sugar price is identified and the time series of sugar price "without" disaster is obtained, using an autoregressive error model to separate impact of disasters from the internal trend in sugar price. Unlike the settings in other assessment models, representative sugar prices, which represent value level in disaster-free conditions and disaster-hit conditions, are integrated from a long time series that covers the whole period of drought. As a result, it is found that in a rigid farming contract, sugarcane growers suffer far more than the sugar company when impacted by severe drought, which may promote reflections among various economic bodies on economic equality related to the occurrence of natural disasters. Further, sensitivity analysis of the model built reveals that sugarcane purchase price has a significant influence on profit loss rate, which implies that setting a proper sugarcane purchase price would be an effective way of realizing economic equality in future practice of contract farming.

Incentive pricing and cost recovery at the basin scale.

PubMed

Ward, Frank A; Pulido-Velazquez, Manuel

2009-01-01

Incentive pricing programs have potential to promote economically efficient water use patterns and provide a revenue source to compensate for environmental damages. However, incentive pricing may impose disproportionate costs and aggravate poverty where high prices are levied for basic human needs. This paper presents an analysis of a two-tiered water pricing system that sets a low price for subsistence needs, while charging a price equal to marginal cost, including environmental cost, for discretionary uses. This pricing arrangement can promote efficient and sustainable water use patterns, goals set by the European Water Framework Directive, while meeting subsistence needs of poor households. Using data from the Rio Grande Basin of North America, a dynamic nonlinear program, maximizes the basin's total net economic and environmental benefits subject to several hydrological and institutional constraints. Supply costs, environmental costs, and resource costs are integrated in a model of a river basin's hydrology, economics, and institutions. Three programs are compared: (1) Law of the River, in which water allocations and prices are determined by rules governing water transfers; (2) marginal cost pricing, in which households pay the full marginal cost of supplying treated water; (3) two-tiered pricing, in which households' subsistence water needs are priced cheaply, while discretionary uses are priced at efficient levels. Compared to the Law of the River and marginal cost pricing, two-tiered pricing performs well for efficiency and adequately for sustainability and equity. Findings provide a general framework for formulating water pricing programs that promote economically and environmentally efficient water use programs while also addressing other policy goals.

The Temptation of Zero Price: Event-Related Potentials Evidence of How Price Framing Influences the Purchase of Bundles.

PubMed

Ma, Haiying; Mo, Zan; Zhang, Huijun; Wang, Cuicui; Fu, Huijian

2018-01-01

Studies have revealed that consumers are susceptible to price framing effect, a common cognitive bias, due to their limited capacity in processing information. The effect of price framing in a bundling context and its neural correlates, however, remain not clearly characterized. The present study applied the event-related potentials (ERPs) approach to investigate the role of price framing in information processing and purchase decision making in a bundling context. Three price frames were created with practically identical total prices (with a maximum difference of ¥0.1, which was about equal to 0.016 US dollars) for a bundle with two components, a focal product and a tie-in product. In normal price condition (NP), both the focal and tie-in products were offered at a normal discounted price; in zero price condition (ZP), the tie-in product was offered free while the total price of the bundle remained the same as NP; whereas in low price condition (LP), the tie-in product was offered at a low token price (¥0.1), and the focal product shared the same price as the focal product of ZP. The behavioral results showed a higher purchase rate and a shorter reaction time for ZP in contrast to NP. Neurophysiologically, enlarged LPP amplitude was elicited by ZP relative to NP, suggesting that ZP triggered a stronger positive affect that could motivate decision to buy. Thus, this study provides both behavioral and neural evidence for how different price framing information is processed and ultimately gives rise to price framing effect in purchase decision making.

The comparative cost of food and beverages at remote Indigenous communities, Northern Territory, Australia.

PubMed

Ferguson, Megan; O'Dea, Kerin; Chatfield, Mark; Moodie, Marjory; Altman, Jon; Brimblecombe, Julie

2016-04-01

To determine the average price difference between foods and beverages in remote Indigenous community stores and capital city supermarkets and explore differences across products. A cross-sectional survey compared prices derived from point-of-sale data in 20 remote Northern Territory stores with supermarkets in capital cities of the Northern Territory and South Australia for groceries commonly purchased in remote stores. Average price differences for products, supply categories and food groups were examined. The 443 products examined represented 63% of food and beverage expenditure in remote stores. Remote products were, on average, 60% and 68% more expensive than advertised prices for Darwin and Adelaide supermarkets, respectively. The average price difference for fresh products was half that of packaged groceries for Darwin supermarkets and more than 50% for food groups that contributed most to purchasing. Strategies employed by manufacturers and supermarkets, such as promotional pricing, and supermarkets' generic products lead to lower prices. These opportunities are not equally available to remote customers and are a major driver of price disparity. Food affordability for already disadvantaged residents of remote communities could be improved by policies targeted at manufacturers, wholesalers and/or major supermarket chains. © 2015 The Authors.

76 FR 45885 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing of Proposed Rule Change To List...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-08-01

... Registration Statements, the Funds face the risk of non-performance by the counterparties to over-the- counter... the Fund in a fashion such that its per Share NAV will equal, in dollar terms, the spot price of a... intend to operate the Fund in a fashion such that its per Share NAV will equal, in dollar terms, the spot...

Competitive advantage for multiple-memory strategies in an artificial market

NASA Astrophysics Data System (ADS)

Mitman, Kurt E.; Choe, Sehyo C.; Johnson, Neil F.

2005-05-01

We consider a simple binary market model containing N competitive agents. The novel feature of our model is that it incorporates the tendency shown by traders to look for patterns in past price movements over multiple time scales, i.e. multiple memory-lengths. In the regime where these memory-lengths are all small, the average winnings per agent exceed those obtained for either (1) a pure population where all agents have equal memory-length, or (2) a mixed population comprising sub-populations of equal-memory agents with each sub-population having a different memory-length. Agents who consistently play strategies of a given memory-length, are found to win more on average -- switching between strategies with different memory lengths incurs an effective penalty, while switching between strategies of equal memory does not. Agents employing short-memory strategies can outperform agents using long-memory strategies, even in the regime where an equal-memory system would have favored the use of long-memory strategies. Using the many-body 'Crowd-Anticrowd' theory, we obtain analytic expressions which are in good agreement with the observed numerical results. In the context of financial markets, our results suggest that multiple-memory agents have a better chance of identifying price patterns of unknown length and hence will typically have higher winnings.

Hospital and Health Insurance Markets Concentration and Inpatient Hospital Transaction Prices in the U.S. Health Care Market.

PubMed

Dauda, Seidu

2018-04-01

To examine the effects of hospital and insurer markets concentration on transaction prices for inpatient hospital services. Measures of hospital and insurer markets concentration derived from American Hospital Association and HealthLeaders-InterStudy data are linked to 2005-2008 inpatient administrative data from Truven Health MarketScan Databases. Uses a reduced-form price equation, controlling for cost and demand shifters and accounting for possible endogeneity of market concentration using instrumental variables (IV) technique. The findings suggest that greater hospital concentration raises prices, whereas greater insurer concentration depresses prices. A hypothetical merger between two of five equally sized hospitals is estimated to increase hospital prices by about 9 percent (p < .001). A similar merger of insurers would depress prices by about 15.3 percent (p < .001). Over the 2003-2008 periods, the estimates imply that hospital consolidation likely raised prices by about 2.6 percent, while insurer consolidation depressed prices by about 10.8 percent. Additional analysis using longer panel data and applying hospital fixed effects confirms the impact of hospital concentration on prices. The findings provide support for strong antitrust enforcement to curb rising hospital service prices and health care costs. © Published 2017. This article is a U.S. Government work and is in the public domain in the USA.

The role of discounts and loss leaders in medicine procurement in Austrian hospitals - a primary survey of official and actual medicine prices

PubMed Central

2013-01-01

Background Knowledge about the prices of medicines used in hospitals, particularly the actually achieved ones, is scant. There are indications of large discounts and the provision of medicines cost-free to Austrian hospitals. The study aims to survey the official and actual prices of medicines procured by Austrian hospitals and to compare them to the out-patient prices. Methods Primary price collection of the official hospital list prices and the actually achieved prices for 12 active ingredients as of the end of September 2009 in five general hospitals in Austria and analysis of the 15 most commonly used presentations. Results The official hospital list prices per unit differed considerably (from 1,500 Euro for an oncology medicine to 0.20 Euro for a generic cardiovascular medicine). For eight on-patent medicines (indications: oncology, anti-inflammatory, neurology-multiple sclerosis and blood) actual hospital medicine prices equaled the list prices (seven medicines) or were lower (one medicine) in four hospitals, whereas one hospital always reported higher actual prices due to the application of a wholesale mark-up. The actual hospital prices of seven medicines (cardiology and immunomodulation) were below the official hospital prices in all hospitals; of these all cardiovascular medicines were provided free-of-charge. Hospital prices were always lower than out-patient prices (pharmacy retail price net and reimbursement price). Conclusion The results suggest little headroom for hospitals to negotiate price reductions for “monopoly products”, i.e. medicines with no therapeutic alternative. Discounts and cost-free provision (loss leaders) appear to be granted for products of strategic importance for suppliers, e.g. cardiovascular medicines, whose treatment tends to be continued in primary care after discharge of the patient. PMID:23826758

Three predictions of the economic concept of unit price in a choice context.

PubMed

Madden, G J; Bickel, W K; Jacobs, E A

2000-01-01

Economic theory makes three predictions about consumption and response output in a choice situation: (a) When plotted on logarithmic coordinates, total consumption (i.e., summed across concurrent sources of reinforcement) should be a positively decelerating function, and total response output should be a bitonic function of unit price increases; (b) total consumption and response output should be determined by the value of the unit price ratio, independent of its cost and benefit components; and (c) when a reinforcer is available at the same unit price across all sources of reinforcement, consumption should be equal between these sources. These predictions were assessed in human cigarette smokers who earned cigarette puffs in a two-choice situation at a range of unit prices. In some sessions, smokers chose between different amounts of puffs, both available at identical unit prices. Individual subjects' data supported the first two predictions but failed to support the third. Instead, at low unit prices, the relatively larger reinforcer (and larger response requirement) was preferred, whereas at high unit prices, the smaller reinforcer (and smaller response requirement) was preferred. An expansion of unit price is proposed in which handling costs and the discounted value of reinforcers available according to ratio schedules are incorporated.

Mixed integer nonlinear programming model of wireless pricing scheme with QoS attribute of bandwidth and end-to-end delay

NASA Astrophysics Data System (ADS)

Irmeilyana, Puspita, Fitri Maya; Indrawati

2016-02-01

The pricing for wireless networks is developed by considering linearity factors, elasticity price and price factors. Mixed Integer Nonlinear Programming of wireless pricing model is proposed as the nonlinear programming problem that can be solved optimally using LINGO 13.0. The solutions are expected to give some information about the connections between the acceptance factor and the price. Previous model worked on the model that focuses on bandwidth as the QoS attribute. The models attempt to maximize the total price for a connection based on QoS parameter. The QoS attributes used will be the bandwidth and the end to end delay that affect the traffic. The maximum goal to maximum price is achieved when the provider determine the requirement for the increment or decrement of price change due to QoS change and amount of QoS value.

Energy risk in the arbitrage pricing model: an empirical and theoretical study

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

Bremer, M.A.

1986-01-01

This dissertation empirically explores the Arbitrage Pricing Theory in the context of energy risk for securities over the 1960s, 1970s, and early 1980s. Starting from a general multifactor pricing model, the paper develops a two factor model based on a market-like factor and an energy factor. This model is then tested on portfolios of securities grouped according to industrial classification using several econometric techniques designed to overcome some of the more serious estimation problems common to these models. The paper concludes that energy risk is priced in the 1970s and possibly even in the 1960s. Energy risk is found tomore » be priced in the sense that investors who hold assets subjected to energy risk are paid for this risk. The classic version of the Capital Asset Pricing Model which posits the market as the single priced factor is rejected in favor of the Arbitrage Pricing Theory or multi-beta versions of the Capital Asset Pricing Model. The study introduces some original econometric methodology to carry out empirical tests.« less

Unit Price Scaling Trends for Chemical Products

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

Qi, Wei; Sathre, Roger; William R. Morrow, III

2015-08-01

To facilitate early-stage life-cycle techno-economic modeling of emerging technologies, here we identify scaling relations between unit price and sales quantity for a variety of chemical products of three categories - metal salts, organic compounds, and solvents. We collect price quotations for lab-scale and bulk purchases of chemicals from both U.S. and Chinese suppliers. We apply a log-log linear regression model to estimate the price discount effect. Using the median discount factor of each category, one can infer bulk prices of products for which only lab-scale prices are available. We conduct out-of-sample tests showing that most of the price proxies deviatemore » from their actual reference prices by a factor less than ten. We also apply the bootstrap method to determine if a sample median discount factor should be accepted for price approximation. We find that appropriate discount factors for metal salts and for solvents are both -0.56, while that for organic compounds is -0.67 and is less representative due to greater extent of product heterogeneity within this category.« less

Alternative Fuels Data Center

Science.gov Websites

model year 2020 and later. The California Department of Motor Vehicles will increase the fee annually to account for inflation, equal to the increase in the California Consumer Price Index for the prior year

Factors associated with the pricing of childhood vaccines in the U.S. public sector.

PubMed

Chen, Weiwei; Messonnier, Mark; Zhou, Fangjun

2018-02-01

Vaccine purchase cost has grown substantially over the last few decades. A closer look at vaccine prices reveals that not all vaccines shared the same increasing pattern. Various factors, such as vaccine attributes, competition, and supply shortages, could relate to price changes. In this study, we examined whether a variety of factors influenced the prices of noninfluenza childhood vaccines purchased in the public sector from 1996 to 2014. The association differed among price-capped vaccines and combination vaccines. There was an increasing time trend in real prices for non-price-capped vaccines, which was mostly offset by the effect of market longevity. The effect of competition in lowering prices was more pronounced among non-price-capped vaccines when manufacturer and vaccine component fixed effects were excluded. Supply shortage, manufacturer name change, and number of vaccine doses in series showed no effect. The results may help policy makers better understand price behaviors and make more informed decisions in vaccine planning and financing. Copyright © 2017 John Wiley & Sons, Ltd.

What Drives Crude Oil Prices?

EIA Publications

2017-01-01

An assessment of the various factors that may influence oil prices - physical market factors as well as those related to trading and financial markets. The analysis describes seven key factors that could influence oil markets and explores possible linkages between each factor and oil prices. Regularly updated graphs are included to illustrate aspects of those relationships.

5 CFR 591.228 - How does OPM convert the price index plus adjustment factor to a COLA rate?

Code of Federal Regulations, 2013 CFR

2013-01-01

... adjustment factor to a COLA rate? 591.228 Section 591.228 Administrative Personnel OFFICE OF PERSONNEL... adjustment factor to a COLA rate? (a) OPM converts the price index plus the adjustment factor to a COLA rate as shown in the following table: Price index plus adjustment factor COLA rate subject to paragraph (b...

5 CFR 591.228 - How does OPM convert the price index plus adjustment factor to a COLA rate?

Code of Federal Regulations, 2012 CFR

2012-01-01

... adjustment factor to a COLA rate? 591.228 Section 591.228 Administrative Personnel OFFICE OF PERSONNEL... adjustment factor to a COLA rate? (a) OPM converts the price index plus the adjustment factor to a COLA rate as shown in the following table: Price index plus adjustment factor COLA rate subject to paragraph (b...

5 CFR 591.228 - How does OPM convert the price index plus adjustment factor to a COLA rate?

Code of Federal Regulations, 2011 CFR

2011-01-01

... adjustment factor to a COLA rate? 591.228 Section 591.228 Administrative Personnel OFFICE OF PERSONNEL... adjustment factor to a COLA rate? (a) OPM converts the price index plus the adjustment factor to a COLA rate as shown in the following table: Price index plus adjustment factor COLA rate subject to paragraph (b...

5 CFR 591.228 - How does OPM convert the price index plus adjustment factor to a COLA rate?

Code of Federal Regulations, 2014 CFR

2014-01-01

... adjustment factor to a COLA rate? 591.228 Section 591.228 Administrative Personnel OFFICE OF PERSONNEL... adjustment factor to a COLA rate? (a) OPM converts the price index plus the adjustment factor to a COLA rate as shown in the following table: Price index plus adjustment factor COLA rate subject to paragraph (b...

The Temptation of Zero Price: Event-Related Potentials Evidence of How Price Framing Influences the Purchase of Bundles

PubMed Central

Ma, Haiying; Mo, Zan; Zhang, Huijun; Wang, Cuicui; Fu, Huijian

2018-01-01

Studies have revealed that consumers are susceptible to price framing effect, a common cognitive bias, due to their limited capacity in processing information. The effect of price framing in a bundling context and its neural correlates, however, remain not clearly characterized. The present study applied the event-related potentials (ERPs) approach to investigate the role of price framing in information processing and purchase decision making in a bundling context. Three price frames were created with practically identical total prices (with a maximum difference of ¥0.1, which was about equal to 0.016 US dollars) for a bundle with two components, a focal product and a tie-in product. In normal price condition (NP), both the focal and tie-in products were offered at a normal discounted price; in zero price condition (ZP), the tie-in product was offered free while the total price of the bundle remained the same as NP; whereas in low price condition (LP), the tie-in product was offered at a low token price (¥0.1), and the focal product shared the same price as the focal product of ZP. The behavioral results showed a higher purchase rate and a shorter reaction time for ZP in contrast to NP. Neurophysiologically, enlarged LPP amplitude was elicited by ZP relative to NP, suggesting that ZP triggered a stronger positive affect that could motivate decision to buy. Thus, this study provides both behavioral and neural evidence for how different price framing information is processed and ultimately gives rise to price framing effect in purchase decision making. PMID:29731705

A General Econometric Model of the Determinants of Library Subscription Prices of Scholarly Journals: The Role of Exchange Rate Risk and Other Factors.

ERIC Educational Resources Information Center

Chressanthis, George A.; Chressanthis, June D.

1994-01-01

Provides regression-based empirical evidence of the effects of variations in exchange rate risk on 1985 library prices of the top-ranked 99 journals in economics. The relationship between individual journal prices and library prices is shown, and other factors associated with increases and decreases in library journal prices are given. (Contains…

Determinants of immediate price impacts at the trade level in an emerging order-driven market

NASA Astrophysics Data System (ADS)

Zhou, Wei-Xing

2012-02-01

Common wisdom argues that, in general, large trades cause large price changes, whereas small trades cause small price changes. However, for extremely large price changes, the trade size and news play a minor role, while liquidity (especially price gaps on the limit order book) is a more influential factor. Hence, there might be other factors influencing the immediate price impacts of trades. In this paper, through mechanical analysis of price variations before and after a trade of arbitrary size, we identify that the trade size, the bid-ask spread, the price gaps and the outstanding volumes at the bid and ask sides of the limit order book have an impact on the changes in prices. We propose two regression models to investigate the influence of these microscopic factors on the price impact of buyer-initiated partially filled trades, seller-initiated partially filled trades, buyer-initiated filled trades and seller-initiated filled trades. We find that they have quantitatively similar explanatory powers and these factors can account for up to 44% of the price impacts. Large trade sizes, wide bid-ask spreads, high liquidity at the same side and low liquidity at the opposite side will cause a large price impact. We also find that the liquidity at the opposite side has a more influential impact than the liquidity at the same side. Our results shed new light on the determinants of immediate price impacts.

Pricing and promotion effects on low-fat vending snack purchases: the CHIPS Study.

PubMed Central

French, S A; Jeffery, R W; Story, M; Breitlow, K K; Baxter, J S; Hannan, P; Snyder, M P

2001-01-01

OBJECTIVES: This study examined the effects of pricing and promotion strategies on purchases of low-fat snacks from vending machines. METHODS: Low-fat snacks were added to 55 vending machines in a convenience sample of 12 secondary schools and 12 worksites. Four pricing levels (equal price, 10% reduction, 25% reduction, 50% reduction) and 3 promotional conditions (none, low-fat label, low-fat label plus promotional sign) were crossed in a Latin square design. Sales of low-fat vending snacks were measured continuously for the 12-month intervention. RESULTS: Price reductions of 10%, 25%, and 50% on low-fat snacks were associated with significant increases in low-fat snack sales; percentages of low-fat snack sales increased by 9%, 39%, and 93%, respectively. Promotional signage was independently but weakly associated with increases in low-fat snack sales. Average profits per machine were not affected by the vending interventions. CONCLUSIONS: Reducing relative prices on low-fat snacks was effective in promoting lower-fat snack purchases from vending machines in both adult and adolescent populations. PMID:11189801

Price dynamics and market power in an agent-based power exchange

NASA Astrophysics Data System (ADS)

Cincotti, Silvano; Guerci, Eric; Raberto, Marco

2005-05-01

This paper presents an agent-based model of a power exchange. Supply of electric power is provided by competing generating companies, whereas demand is assumed to be inelastic with respect to price and is constant over time. The transmission network topology is assumed to be a fully connected graph and no transmission constraints are taken into account. The price formation process follows a common scheme for real power exchanges: a clearing house mechanism with uniform price, i.e., with price set equal across all matched buyer-seller pairs. A single class of generating companies is considered, characterized by linear cost function for each technology. Generating companies compete for the sale of electricity through repeated rounds of the uniform auction and determine their supply functions according to production costs. However, an individual reinforcement learning algorithm characterizes generating companies behaviors in order to attain the expected maximum possible profit in each auction round. The paper investigates how the market competitive equilibrium is affected by market microstructure and production costs.

Using time series structural characteristics to analyze grain prices in food insecure countries

USGS Publications Warehouse

Davenport, Frank; Funk, Chris

2015-01-01

Two components of food security monitoring are accurate forecasts of local grain prices and the ability to identify unusual price behavior. We evaluated a method that can both facilitate forecasts of cross-country grain price data and identify dissimilarities in price behavior across multiple markets. This method, characteristic based clustering (CBC), identifies similarities in multiple time series based on structural characteristics in the data. Here, we conducted a simulation experiment to determine if CBC can be used to improve the accuracy of maize price forecasts. We then compared forecast accuracies among clustered and non-clustered price series over a rolling time horizon. We found that the accuracy of forecasts on clusters of time series were equal to or worse than forecasts based on individual time series. However, in the following experiment we found that CBC was still useful for price analysis. We used the clusters to explore the similarity of price behavior among Kenyan maize markets. We found that price behavior in the isolated markets of Mandera and Marsabit has become increasingly dissimilar from markets in other Kenyan cities, and that these dissimilarities could not be explained solely by geographic distance. The structural isolation of Mandera and Marsabit that we find in this paper is supported by field studies on food security and market integration in Kenya. Our results suggest that a market with a unique price series (as measured by structural characteristics that differ from neighboring markets) may lack market integration and food security.

Non-price competition in the regional high-rise construction market

NASA Astrophysics Data System (ADS)

Ganebnykh, Elena; Burtseva, Tatyana; Gurova, Ekaterina; Polyakova, Irina

2018-03-01

The article analyzes the market of high-rise residential construction in the city of Kirov (Russia). A minimal significance of price factors has been revealed in the process of the market analysis. This suggests that a lower price does not guarantee an increase in consumer demand. Thus, factors of non-price competition are of great importance in the market in question. The expert survey has identified the factors of non-price competition which influence consumer perceptions. A perceptual map has been constructed on the basis of the identified factors by means of the factor analysis to determine the positioning of each high-rise building relative to the consumer requirements. None of the high-rise residential buildings in the market in question meets the consumers' expectations of an "ideal facility".

Sociodemographic differences in fast food price sensitivity

PubMed Central

Meyer, Katie A.; Guilkey, David K.; Ng, Shu Wen; Duffey, Kiyah J.; Popkin, Barry M.; Kiefe, Catarina I.; Steffen, Lyn M.; Shikany, James M.; Gordon-Larsen, Penny

2014-01-01

Importance Fiscal food policies (e.g., taxation) are increasingly proposed to improve population-level health, but their impact on health disparities is unknown. Objective We estimated subgroup-specific effects of fast food price changes on fast food consumption and cardio-metabolic outcomes, hypothesizing inverse associations between fast food price with fast food consumption, BMI, and insulin resistance and stronger associations among blacks (vs. whites) and participants with relatively lower education or income. Design 20-year follow-up (5 exams) in a biracial U.S. prospective cohort: Coronary Artery Risk Development in Young Adults (CARDIA) (1985/86–2005/06, baseline n=5,115). Participants Aged 18–30 at baseline; designed for equal recruitment by race (black/white), educational attainment, age, and gender. Exposures Community-level price data from the Council for Community and Economic Research (C2ER) temporally- and geographically-linked to study participants’ home address at each exam. Main outcome and measures Participant-reported number of fast food eating occasions per week; BMI (kg/m2) from clinical assessment of weight and height; homeostatic model assessment insulin resistance (HOMA-IR) from fasting glucose and insulin. Covariates included individual- and community-level social and demographic factors. Results In repeated measures regression, multivariable-adjusted associations between fast food price and consumption were non-linear (quadratic, p<0.001), with significant inverse estimated effects on consumption at higher prices; estimates varied according to race (interaction term p=0.04), income (p=0.07), and education (p=0.03). For example, at the 10th percentile of price ($1.25/serving), blacks and whites had mean fast food consumption (times/week) of 2.2 (95% CI: 2.1–2.3) and 1.6 (1.5–1.7), respectively, while at the 90th percentile of price ($1.53/serving), respective mean consumption estimates were 1.9 (1.8–2.0) and 1.5 (1.4–1.6). We observed differential price effects on HOMA-IR (inverse for lower educational status and at middle income) and BMI (inverse for blacks, lower education, and middle income; positive for whites, high education, and high income). Conclusions We found greater fast food price sensitivity on fast food consumption and insulin resistance among sociodemographic groups that have a disproportionate burden of chronic disease. Our findings have implications for fiscal policy approaches related to diet, particularly with respect to possible effects of fast food taxes among populations with diet-related health disparities. PMID:24424384

Are Gasoline Prices a Factor in Residential Relocation Decisions? Preliminary Findings from the American Housing Survey, 1996–2008

PubMed Central

Chi, Guangqing; Boydstun, Jamie

2018-01-01

Residential relocation choice is affected by numerous factors, but gasoline prices as a potential factor have not been investigated. This study examines gasoline price changes and residential relocation choice using 1996–2008 American Housing Survey data. We found higher gasoline prices are associated with a higher percentage of movers choosing locations closer to workplaces. The findings have implications for addressing the impacts of volatile gasoline prices on land use planning and policies; resilient “smart cities or communities” are one possible solution. PMID:29658959

The relationship between relational models and individualism and collectivism: evidence from culturally diverse work groups.

PubMed

Vodosek, Markus

2009-04-01

Relational models theory (Fiske, 1991 ) proposes that all thinking about social relationships is based on four elementary mental models: communal sharing, authority ranking, equality matching, and market pricing. Triandis and his colleagues (e.g., Triandis, Kurowski, & Gelfand, 1994 ) have suggested a relationship between the constructs of horizontal and vertical individualism and collectivism and Fiske's relational models. However, no previous research has examined this proposed relationship empirically. The objective of the current study was to test the association between the two frameworks in order to further our understanding of why members of culturally diverse groups may prefer different relational models in interactions with other group members. Findings from this study support a relationship between Triandis' constructs and Fiske's four relational models and uphold Fiske's ( 1991 ) claim that the use of the relational models is culturally dependent. As hypothesized, horizontal collectivism was associated with a preference for equality matching and communal sharing, vertical individualism was related to a preference for authority ranking, and vertical collectivism was related to a preference for authority ranking and communal sharing. However, contrary to expectations, horizontal individualism was not related to a preference for equality matching and market pricing, and vertical individualism was not associated with market pricing. By showing that there is a relationship between Triandis' and Fiske's frameworks, this study closes a gap in relational models theory, namely how culture relates to people's preferences for relational models. Thus, the findings from this study will enable future researchers to explain and predict what relational models are likely to be used in a certain cultural context.

7 CFR 1000.53 - Announcement of class prices, component prices, and advanced pricing factors.

Code of Federal Regulations, 2010 CFR

2010-01-01

... order) for the preceding month: (1) The Class II price; (2) The Class II butterfat price; (3) The Class... the following month: (1) The Class I price; (2) The Class I skim milk price; (3) The Class I butterfat...; (7) The butterfat price; (8) The nonfat solids price; (9) The protein price; (10) The other solids...

7 CFR 1000.53 - Announcement of class prices, component prices, and advanced pricing factors.

Code of Federal Regulations, 2014 CFR

2014-01-01

... order) for the preceding month: (1) The Class II price; (2) The Class II butterfat price; (3) The Class... the following month: (1) The Class I price; (2) The Class I skim milk price; (3) The Class I butterfat...; (7) The butterfat price; (8) The nonfat solids price; (9) The protein price; (10) The other solids...

7 CFR 1000.53 - Announcement of class prices, component prices, and advanced pricing factors.

Code of Federal Regulations, 2013 CFR

2013-01-01

... order) for the preceding month: (1) The Class II price; (2) The Class II butterfat price; (3) The Class... the following month: (1) The Class I price; (2) The Class I skim milk price; (3) The Class I butterfat...; (7) The butterfat price; (8) The nonfat solids price; (9) The protein price; (10) The other solids...

7 CFR 1000.53 - Announcement of class prices, component prices, and advanced pricing factors.

Code of Federal Regulations, 2012 CFR

2012-01-01

... order) for the preceding month: (1) The Class II price; (2) The Class II butterfat price; (3) The Class... the following month: (1) The Class I price; (2) The Class I skim milk price; (3) The Class I butterfat...; (7) The butterfat price; (8) The nonfat solids price; (9) The protein price; (10) The other solids...

7 CFR 1000.53 - Announcement of class prices, component prices, and advanced pricing factors.

Code of Federal Regulations, 2011 CFR

2011-01-01

... order) for the preceding month: (1) The Class II price; (2) The Class II butterfat price; (3) The Class... the following month: (1) The Class I price; (2) The Class I skim milk price; (3) The Class I butterfat...; (7) The butterfat price; (8) The nonfat solids price; (9) The protein price; (10) The other solids...

Influence of market factors on the pricing of exchange traded metals in the medium term

NASA Astrophysics Data System (ADS)

Bogdanov, S. V.; Shevelev, I. M.; Chernyi, S. A.

2017-06-01

On the basis of comparison of the influence of the stock exchange factors on the pricing of nonferrous metals for medium term with similar results for short term, it has been established that the main attention should be paid to the changes in the pricing environment on the metal market as a function of the prices of exchange traded metals. The situation on the market of energy carriers (hydrocarbons) and the European, American, and Asian stock exchanges can be based on parity and even significantly influence the variation of the metal prices. In the medium term, constructive development of metal trade should be reasonably promoted by changing the elasticity of supply with regard to prices for exchange traded metals and by applying the stock exchange factors that positively influence the pricing on commodity and stock markets.

A Space Commodities Futures Trading Exchange to Grow the Lunar Economy

NASA Astrophysics Data System (ADS)

Cahan, B. B. C.

2017-10-01

This paper proposes to establish a Space Commodities Futures Trading Exchange in order to define and trade essential commodities that, when traded on an open exchange, improve availability, quality, price discovery, financeability, and equal access.

Differential effects of cigarette price changes on adult smoking behaviours.

PubMed

Cavazos-Rehg, Patricia A; Krauss, Melissa J; Spitznagel, Edward L; Chaloupka, Frank J; Luke, Douglas A; Waterman, Brian; Grucza, Richard A; Bierut, Laura Jean

2014-03-01

Raising cigarette prices through taxation is an important policy approach to reduce smoking. Yet, cigarette price increases may not be equally effective in all subpopulations of smokers. To examine differing effects of state cigarette price changes with individual changes in smoking among smokers of different intensity levels. Data were derived from the National Epidemiologic Survey on Alcohol and Related Conditions, a nationally representative sample of US adults originally interviewed in 2001-2002 (Wave 1) and re-interviewed in 2004-2005 (Wave 2): 34 653 were re-interviewed in Wave 2, and 7068 smokers defined at Wave 1 were included in our study. Mixed effects linear regression models were used to assess whether the effects of changes in state cigarette prices on changes in daily smoking behaviour differed by level of daily smoking. In the multivariable model, there was a significant interaction between change in price per pack of cigarettes from Wave 1 to Wave 2 and the number of cigarettes smoked per day (p=0.044). The more cigarettes smoked per day at baseline, the more responsive the smokers were to increases in price per pack of cigarettes (ie, number of cigarettes smoked per day was reduced in response to price increases). Our findings that heavier smokers successfully and substantially reduced their cigarette smoking behaviours in response to state cigarette price increases provide fresh insight to the evidence on the effectiveness of higher cigarette prices in reducing smoking.

STS pricing policy

NASA Technical Reports Server (NTRS)

Lee, C. M.; Stone, B.

1982-01-01

In 1977 NASA published Shuttle Reimbursement Policies for Civil U.S. Government, DOD and Commercial and Foreign Users. These policies were based on the principle of total cost recovery over a period of time with a fixed flat price for initial period to time to enhance transition. This fixed period was to be followed with annual adjustments thereafter, NASA is establishing a new price for 1986 and beyond. In order to recover costs, that price must be higher than the initial fixed price through FY 1985. NASA intends to remain competitive. Competitive posture includes not only price, but other factors such as assured launch, reliability, and unique services. NASA's pricing policy considers all these factors.

Factors influencing global antiretroviral procurement prices.

PubMed

Wirtz, Veronika J; Forsythe, Steven; Valencia-Mendoza, Atanacio; Bautista-Arredondo, Sergio

2009-11-18

Antiretroviral medicines (ARVs) are one of the most costly parts of HIV/AIDS treatment. Many countries are struggling to provide universal access to ARVs for all people living with HIV and AIDS. Although substantial price reductions of ARVs have occurred, especially between 2002 and 2008, achieving sustainable access for the next several decades remains a major challenge for most low- and middle-income countries. The objectives of the present study were twofold: first, to analyze global ARV prices between 2005 and 2008 and associated factors, particularly procurement methods and key donor policies on ARV procurement efficiency; second, to discuss the options of procurement processes and policies that should be considered when implementing or reforming access to ARV programs. An ARV-medicines price-analysis was carried out using the Global Price Reporting Mechanism from the World Health Organization. For a selection of 12 ARVs, global median prices and price variation were calculated. Linear regression models for each ARV were used to identify factors that were associated with lower procurement prices. Logistic regression models were used to identify the characteristics of those countries which procure below the highest and lowest direct manufactured costs. Three key factors appear to have an influence on a country's ARV prices: (a) whether the product is generic or not; (b) the socioeconomic status of the country; (c) whether the country is a member of the Clinton HIV/AIDS Initiative. Factors which did not influence procurement below the highest direct manufactured costs were HIV prevalence, procurement volume, whether the country belongs to the least developed countries or a focus country of the United States President's Emergency Plan For AIDS Relief. One of the principal mechanisms that can help to lower prices for ARV over the next several decades is increasing procurement efficiency. Benchmarking prices could be one useful tool to achieve this.

Factors Which Influence The Fish Purchasing Decision: A study on Traditional Market in Riau Mainland

NASA Astrophysics Data System (ADS)

Siswati, Latifa; Putri, Asgami

2018-05-01

The purposes of the research are to analyze and assess the factors which influence fish purchasing by the community at Tenayan Raya district Pekanbaru.Research methodology which used is survey method, especially interview and observation technique or direct supervision on the market which located at Tenayan Raya district. Determination technique of sampling location/region is done by purposive sampling. The sampling method is done by accidental sampling. Technique analysis of factors which used using the data that derived from the respondent opinion to various fish variable. The result of this research are the factors which influence fish purchasing decision done in a traditional market which located at Tenayan Raya district are product factor, price factors, social factor and individual factor. Product factor which influences fish purchasing decision as follows: the eyelets condition, the nutrition of fresh fish, the diversity of sold fish. Price factors influence the fish purchasing decision, such as: the price of fresh fish, the convincing price and the suitability price and benefits of the fresh fish. Individual factors which influence a fish purchasing decision, such as education and income levels. Social factors which influence a fish purchasing decision, such as family, colleagues and feeding habits of fish.

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

PubMed

Krieger, L M; Shaw, W W

1999-02-01

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

Power Policy 21 Century: Growth of the Population, Economics, Ecology and Entropy

NASA Astrophysics Data System (ADS)

Prisniakov, Vladimir

2002-01-01

but energy consumed by a man will be a limiting factor. Obtained values of changing in the quantity of population as well as of the consumed fuel quantity in the 21 century have been analysed. The period was defined (2005-2085) when energy hungry is possible due to a higher rate of a human reproduction comparing to the rates of energy consumption. From new position, the laws of the Earth population growth are analysed, based on the equality of the quantity of dying people to the quantity of those bornyears ago, whereis life expectancy. investigated on the base of Second law of thermodynamics. The equation of money exchange dY = (V/p)dM in going from quantity real GNP Y to consumption fuel equivalent E=pd Y takes the form: dE =VdM. General correlation between S and M is proposed: dS = (HV/T)dM, where H is enthalpy; V is velocity of money; T is temperature; p is total prices,is capacity of manufacture resources. This equation shows direction of the spontaneity development of economical processes as part of general law Universe. The original equation of removing from information to matter equation enables to control output natural resources by economic laws, and to control of activities for the restoration wrecked nature.This equation shows the direction of the spontaneity development of economical processes as part of a general Universal law. into account value of expenditure on ecology as part of price and overstated price indexes. The criterions allow to discover numerical values of a stock of money, ecology part of price, velocity of money, value of the taxes, which ensure sustainable development. These equations enable to control output natural resources by economic laws, and to control activities for the restoration of wrecked nature.

Household capacities, vulnerabilities and food insecurity: shifts in food insecurity in urban and rural Ethiopia during the 2008 food crisis.

PubMed

Hadley, Craig; Linzer, Drew A; Belachew, Tefera; Mariam, Abebe Gebre; Tessema, Fasil; Lindstrom, David

2011-11-01

The global food crisis of 2008 led to renewed interest in global food insecurity and how macro-level food prices impact household and individual level wellbeing. There is debate over the extent to which food price increases in 2008 eroded food security, the extent to which this effect was distributed across rural and urban locales, and the extent to which rural farmers might have benefited. Ethiopia's food prices increased particularly dramatically between 2005 and 2008 and here we ask whether there was a concomitant increase in household food insecurity, whether this decline was distributed equally across rural, urban, and semi-urban locales, and to what extent pre-crisis household capacities and vulnerabilities impacted 2008 household food insecurity levels. Data are drawn from a random sample of 2610 households in Southwest Ethiopia surveyed 2005/6 and again in mid to late 2008. Results show broad deterioration of household food insecurity relative to baseline but declines were most pronounced in the rural areas. Wealthier households and those that were relatively more food secure in 2005/6 tended to be more food secure in 2008, net of other factors, and these effects were most pronounced in urban areas. External shocks, such as a job loss or loss of crops, experienced by households were also associated with worse food insecurity in 2008 but few other household variables were associated with 2008 food insecurity. Our results also showed that rural farmers tended to produce small amounts for sale on markets, and thus were not able to enjoy the potential benefits that come from greater crop prices. We conclude that poverty, and not urban/rural difference, is the important variable for understanding the risk of food insecurity during a food crisis and that many rural farmers are too poor to take advantage of rapid rises in food prices. Copyright © 2011 Elsevier Ltd. All rights reserved.

Household capacities, vulnerabilities and food insecurity: Shifts in food insecurity in urban and rural Ethiopia during the 2008 food crisis

PubMed Central

Hadley, Craig; Linzer, Drew A.; Belachew, Tefera; Mariam, Abebe Gebre; Tessema, Fasil; Lindstrom, David

2014-01-01

The global food crisis of 2008 led to renewed interest in global food insecurity and how macro-level food prices impact household and individual level wellbeing. There is debate over the extent to which food price increases in 2008 eroded food security, the extent to which this effect was distributed across rural and urban locales, and the extent to which rural farmers might have benefited. Ethiopia’s food prices increased particularly dramatically between 2005 and 2008 and here we ask whether there was a concomitant increase in household food insecurity, whether this decline was distributed equally across rural, urban, and semi-urban locales, and to what extent pre-crisis household capacities and vulnerabilities impacted 2008 household food insecurity levels. Data are drawn from a random sample of 2610 households in Southwest Ethiopia surveyed 2005/6 and again in mid to late 2008. Results show broad deterioration of household food insecurity relative to baseline but declines were most pronounced in the rural areas. Wealthier households and those that were relatively more food secure in 2005/6 tended to be more food secure in 2008, net of other factors, and these effects were most pronounced in urban areas. External shocks, such as a job loss or loss of crops, experienced by households were also associated with worse food insecurity in 2008 but few other household variables were associated with 2008 food insecurity. Our results also showed that rural farmers tended to produce small amounts for sale on markets, and thus were not able to enjoy the potential benefits that come from greater crop prices. We conclude that poverty, and not urban/rural difference, is the important variable for understanding the risk of food insecurity during a food crisis and that many rural farmers are too poor to take advantage of rapid rises in food prices. PMID:21996022

Marketing environment dynamics and implications for pricing strategies: the case of home health care.

PubMed

Ponsford, B J; Barlow, D

1999-01-01

This research reviews the factors affecting the pricing or rate schedules of home health care agencies. A large number of factors affect costs and thus rate structures. The major factors include reimbursement structures with accompanying discount structures, administrative burdens, and risks. Channel issues include bargaining power, competition, and size. Staffing issues affect pricing and product through the provider level, productivity, and quality outcomes. Physician and patient issues include quality concerns and choices. These factors are discussed in light of overall marketing strategy and the interaction of pricing with other marketing controllables such as product, place/distribution, and promotion. Economic and accounting principles are also reviewed with consideration to understanding direct and indirect costs in order to enable negotiators to effectively price health care services.

An Analysis and Review of Measures and Relationships in Space Transportation Affordability

NASA Technical Reports Server (NTRS)

Zapata, Edgar; McCleskey, Carey

2014-01-01

The affordability of transportation to or from space is of continued interest across numerous and diverse stakeholders in our aerospace industry. Such an important metric as affordability deserves a clear understanding among stakeholders about what is meant by affordability, costs, and related terms, as otherwise it's difficult to see where specific improvements are needed or where to target specific investments. As captured in the famous words of Lewis Carroll, "If you don't know where you are going, any road will get you there". As important as understanding a metric may be, with terms such as costs, prices, specific costs, average costs, marginal costs, etc., it is equally important to understand the relationship among these measures. In turn, these measures intermingle with caveats and factors that introduce more measures in need of a common understanding among stakeholders. These factors include flight rates, capability, and payload. This paper seeks to review the costs of space transportation systems and the relationships among the many factors involved in costs from the points of view of diverse decision makers. A decision maker may have an interest in acquiring a single launch considering the best price (along with other factors in their business case), or an interest in many launches over time. Alternately, a decision maker may have a specific interest in developing a space transportation system that will offer certain prices, or flight rate capability, or both, at a certain up-front cost. The question arises for the later, to reuse or to expend? As it is necessary in thinking about the future to clearly understand the past and the present, this paper will present data and graphics to assist stakeholders in visualizing trends and the current state of affairs in the launch industry. At all times, raw data will be referenced (or made available separately) alongside detailed explanations about the data, so as to avoid the confusion or misleading conclusions that occur more often than not with complex graphs or statements when such context is lacking.

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

Code of Federal Regulations, 2011 CFR

2011-01-01

..., rounded to the nearest cent, shall be the protein price per pound times 3.1 plus the other solids price... cents and multiplying the result by 0.99. (n) Protein price. The protein price per pound, rounded to the... one-hundredth cent, shall be the U.S. average NASS dry whey survey price reported by the Department...

Electricity market design for generator revenue sufficiency with increased variable generation

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

Levin, Todd; Botterud, Audun

Here, we present a computationally efficient mixed-integer program (MIP) that determines optimal generator expansion decisions, and hourly unit commitment and dispatch in a power system. The impact of increasing wind power capacity on the optimal generation mix and generator profitability is analyzed for a test case that approximates the electricity market in Texas (ERCOT). We analyze three market policies that may support resource adequacy: Operating Reserve Demand Curves (ORDC), Fixed Reserve Scarcity Prices (FRSP) and fixed capacity payments (CP). Optimal expansion plans are comparable between the ORDC and FRSP implementations, while capacity payments may result in additional new capacity. Themore » FRSP policy leads to frequent reserves scarcity events and corresponding price spikes, while the ORDC implementation results in more continuous energy prices. Average energy prices decrease with increasing wind penetration under all policies, as do revenues for baseload and wind generators. Intermediate and peak load plants benefit from higher reserve prices and are less exposed to reduced energy prices. All else equal, an ORDC approach may be preferred to FRSP as it results in similar expansion and revenues with less extreme energy prices. A fixed CP leads to additional new flexible NGCT units, but lower profits for other technologies.« less

Electricity market design for generator revenue sufficiency with increased variable generation

DOE PAGES

Levin, Todd; Botterud, Audun

2015-10-01

Here, we present a computationally efficient mixed-integer program (MIP) that determines optimal generator expansion decisions, and hourly unit commitment and dispatch in a power system. The impact of increasing wind power capacity on the optimal generation mix and generator profitability is analyzed for a test case that approximates the electricity market in Texas (ERCOT). We analyze three market policies that may support resource adequacy: Operating Reserve Demand Curves (ORDC), Fixed Reserve Scarcity Prices (FRSP) and fixed capacity payments (CP). Optimal expansion plans are comparable between the ORDC and FRSP implementations, while capacity payments may result in additional new capacity. Themore » FRSP policy leads to frequent reserves scarcity events and corresponding price spikes, while the ORDC implementation results in more continuous energy prices. Average energy prices decrease with increasing wind penetration under all policies, as do revenues for baseload and wind generators. Intermediate and peak load plants benefit from higher reserve prices and are less exposed to reduced energy prices. All else equal, an ORDC approach may be preferred to FRSP as it results in similar expansion and revenues with less extreme energy prices. A fixed CP leads to additional new flexible NGCT units, but lower profits for other technologies.« less

Multifactor valuation models of energy futures and options on futures

NASA Astrophysics Data System (ADS)

Bertus, Mark J.

The intent of this dissertation is to investigate continuous time pricing models for commodity derivative contracts that consider mean reversion. The motivation for pricing commodity futures and option on futures contracts leads to improved practical risk management techniques in markets where uncertainty is increasing. In the dissertation closed-form solutions to mean reverting one-factor, two-factor, three-factor Brownian motions are developed for futures contracts. These solutions are obtained through risk neutral pricing methods that yield tractable expressions for futures prices, which are linear in the state variables, hence making them attractive for estimation. These functions, however, are expressed in terms of latent variables (i.e. spot prices, convenience yield) which complicate the estimation of the futures pricing equation. To address this complication a discussion on Dynamic factor analysis is given. This procedure documents latent variables using a Kalman filter and illustrations show how this technique may be used for the analysis. In addition, to the futures contracts closed form solutions for two option models are obtained. Solutions to the one- and two-factor models are tailored solutions of the Black-Scholes pricing model. Furthermore, since these contracts are written on the futures contracts, they too are influenced by the same underlying parameters of the state variables used to price the futures contracts. To conclude, the analysis finishes with an investigation of commodity futures options that incorporate random discrete jumps.

5 CFR 591.228 - How does OPM convert the price index plus adjustment factor to a COLA rate?

Code of Federal Regulations, 2010 CFR

2010-01-01

... than 124.50 Price index plus the adjustment factor, minus 100, expressed to the nearest whole percent... 5 Administrative Personnel 1 2010-01-01 2010-01-01 false How does OPM convert the price index plus... Differential-Nonforeign Areas Cost-Of-Living Allowances § 591.228 How does OPM convert the price index plus...

Lowering generic drug prices: less regulation equals more competition.

PubMed

Anis, Aslam H; Guh, Daphne P; Woolcott, John

2003-01-01

In Ontario, Canada, the 70/90 regulations were instituted in May 1993 to establish provincial government procurement prices for generic drugs. Accordingly, the first generic entrant's price could not exceed 70% of the incumbent's branded price. Subsequent entrants' prices could not exceed 90% of the first entrant's price. These regulations' impact on generic market competitiveness are evaluated. Data on 518 drugs spanning nine therapeutic classifications were collected for the period of 04/01/1987 to 12/31/1998 from Ontario Drug Benefit formulary and IMS Canada. The period 04/01/1987 to 04/30/1993 was defined as the before period (BP) and 05/01/1993 to 12/31/1998 was the after period (AP). We compared the price ratio (P = P(G)/P(B) ) between BP and AP and performed regression analysis to assess the determinants of P. in both the BP and AP decreased as the number of generic firms increased within these periods. However, this decrease in was significantly less in the AP (median: 0.75 --> 0.68 --> 0.67) than in BP (0.71 --> 0.61 --> 0.53) as the number of generics increased from 1 to 2 to 3, respectively. The regression analysis showed that the price ratio in the AP was higher than that in the BP by 0.05, 0.09, and 0.13 for first, second, and third generic entrant respectively. Our findings show that the 70/90 regulations not only failed to achieve their goal of lowering the procurement price but instead the opposite occurred. The mandated procurement price became a focal point and resulted in a clustering of prices around the maximum allowable levels with little price dispersion.

Factors influencing the difference between forecasted and actual drug sales volumes under the price-volume agreement in South Korea.

PubMed

Park, Sun-Young; Han, Euna; Kim, Jini; Lee, Eui-Kyung

2016-08-01

This study analyzed factors contributing to increases in the actual sales volumes relative to forecasted volumes of drugs under price-volume agreement (PVA) policy in South Korea. Sales volumes of newly listed drugs on the national formulary are monitored under PVA policy. When actual sales volume exceeds the pre-agreed forecasted volume by 30% or more, the drug is subject to price-reduction. Logistic regression assessed the factors related to whether drugs were the PVA price-reduction drugs. A generalized linear model with gamma distribution and log-link assessed the factors influencing the increase in actual volumes compared to forecasted volume in the PVA price-reduction drugs. Of 186 PVA monitored drugs, 34.9% were price-reduction drugs. Drugs marketed by pharmaceutical companies with previous-occupation in the therapeutic markets were more likely to be PVA price-reduction drugs than drugs marketed by firms with no previous-occupation. Drugs of multinational pharmaceutical companies were more likely to be PVA price-reduction drugs than those of domestic companies. Having more alternative existing drugs was significantly associated with higher odds of being PVA price-reduction drugs. Among the PVA price-reduction drugs, the increasing rate of actual volume compared to forecasted volume was significantly higher in drugs with clinical usefulness. By focusing the negotiation efforts on those target drugs, PVA policy can be administered more efficiently with the improved predictability of the drug sales volumes. Copyright © 2016 Elsevier Ireland Ltd. All rights reserved.

Water transfer and major environmental provisions of the Central Valley Project Improvement Act: A preliminary economic evaluation

NASA Astrophysics Data System (ADS)

Loomis, John B.

1994-06-01

Increasing block water pricing, water transfer, and wildlife refuge water supply provisions of the Central Valley Project (CVP) Improvement Act are analyzed in terms of likely farmer response and economic efficiency of these provisions. Based on a simplified partial equilibrium analysis, we estimate small, but significant water conservation savings due to pricing reform, the potential for substantial water transfers to non-CVP customers in severe drought years when the water price exceeds 110 per acre foot (1 acre foot equals 1.234 × 103 m3) and positive net benefits for implementation of the wildlife refuge water supply provisions. The high threshold water price is partly a result of requiring farmers to pay full cost on transferred water plus a surcharge of 25 per acre foot if the water is transferred to a non-CVP user. The act also sets an important precedent for water pricing reform, water transfer provisions, and environmental surcharges on water users that may find their way to other Bureau of Reclamation projects.

Yield and turnover of illicit indoor cannabis (Cannabis spp.) plantations in Belgium.

PubMed

Vanhove, Wouter; Surmont, Tim; Van Damme, Patrick; De Ruyver, Brice

2012-07-10

In prosecution, Belgian judiciary currently uses outdated yield figures (28.1g per plant, sold at € 3/g at grower level) for fining illicit indoor cannabis plantations. Using state-of-the-art cultivation techniques, our growth experiments showed that yield is better expressed in g/m(2) cultivated surface area rather than in g per plant, and that yield varies significantly between different cannabis strains. It was found that the lower-bound of the one-sided 95% confidence interval of the yield of an indoor cannabis plantation can be set at 575 g/m(2). Prices and pricing mechanisms were investigated using interviews with respondents selected through snowball sampling. Results reveal that (i) the Belgian cannabis market chain is highly complex; (ii) unit prices are predominantly determined by transaction sizes; but also (iii) a set of product- and socially-related price-fixing mechanisms have an equally important role. At grower level, respondents reported prices for 1 g of dry cannabis buds to range € 3.00-4.25. Copyright © 2012 Elsevier Ireland Ltd. All rights reserved.

E-Valuation: Pricing E-Learning.

ERIC Educational Resources Information Center

Hartley, Darin E.

2001-01-01

Looks at the ways that electronic learning is priced in organizations and the factors that influence the pricing. Discusses pros and cons of several pricing options: price per seat, subscription, pay as you go, per server, free, and payment based on time. (JOW)

Search for supersymmetry in 8 TeV proton-proton collision events with bottom-quark jets and missing transverse energy

NASA Astrophysics Data System (ADS)

Kreis, Benjamin

In the absence of meaningful federal action, many states have adopted clean energy policies aimed at reducing carbon emissions. Among these policies is the energy efficiency resource standard (EERS), adopted by 33 states mostly in the last decade, which sets an energy consumption reduction target for some or all regulated utilities within a state. My paper examines what factors affect a state's likelihood of adopting an EERS, and whether those factors are different for EERS policies compared with other clean energy policies. The energy policy literature features many studies of clean energy policy adoption, but none have focused specifically on EERS adoption. I theorized that energy efficiency potential being relatively homogeneously distributed across states (compared to renewable energy potential) and efficiency's relative inexpensiveness as a resource would result in a unique set of factors being associated with the likelihood of EERS adoption. Specifically, I expected that three internal determinants--the presence of utility rate decoupling in a state, a state's political ideology, and the state's average retail price of residential electricity--affect a state's likelihood of adopting an EERS. To test these hypotheses, I estimated several multiple regression models using an event history analysis approach and found that citizen liberalism, level of electricity consumption, and a time counter variable were all statistically significant and positive predictors of state adoption of an EERS, all else equal. I found no association between decoupling or electricity price and EERS adoption, though in the case of the former that may be a result of insufficient data.

Essays in applied microeconomics

NASA Astrophysics Data System (ADS)

Davis, Lucas William

2005-11-01

The first essay measures the impact of an outbreak of pediatric leukemia on local housing values. A model of residential location choice is used to describe conditions under which the gradient of the hedonic price function with respect to health risk is equal to household marginal willingness to pay to avoid pediatric leukemia risk. This equalizing differential is estimated using property-level sales records from a county in Nevada where residents have recently experienced a severe increase in pediatric leukemia. Housing values are compared before and after the increase with a nearby county acting as a control group. The results indicate that housing values decreased 15.6% during the period of maximum risk. Results are similar for alternative measures of risk and across houses of different sizes. With risk estimates derived using a Bayesian learning model the results imply a statistical value of pediatric leukemia of $5.6 million. The results from the paper provide some of the first market-based estimates of the value of health for children. The second essay evaluates the cost-effectiveness of public incentives that encourage households to purchase high-efficiency durable goods. The demand for durable goods and the demand for energy and other inputs are modeled jointly as the solution to a household production problem. The empirical analysis focuses on the case of clothes washers. The production technology and utilization decision are estimated using household-level data from field trials in which participants received front-loading clothes washers free of charge. The estimation strategy exploits this quasi-random replacement of washers to derive robust estimates of the utilization decision. The results indicate a price elasticity, -.06, that is statistically different from zero across specifications. The parameters from the utilization decision are used to estimate the purchase decision using data from the Consumer Expenditure Survey, 1994-2002. Households consider optimal utilization levels, purchase prices, water rates, energy rates and other factors when deciding which clothes washer to purchase. The complete model is used to simulate the effects of rebate programs and other policies on adoption patterns of clothes washers and household demand for water and energy.

Modeling Long-term Behavior of Stock Market Prices Using Differential Equations

NASA Astrophysics Data System (ADS)

Yang, Xiaoxiang; Zhao, Conan; Mazilu, Irina

2015-03-01

Due to incomplete information available in the market and uncertainties associated with the price determination process, the stock prices fluctuate randomly during a short period of time. In the long run, however, certain economic factors, such as the interest rate, the inflation rate, and the company's revenue growth rate, will cause a gradual shift in the stock price. Thus, in this paper, a differential equation model has been constructed in order to study the effects of these factors on the stock prices. The model obtained accurately describes the general trends in the AAPL and XOM stock price changes over the last ten years.

The European style arithmetic Asian option pricing with stochastic interest rate based on Black Scholes model

NASA Astrophysics Data System (ADS)

Winarti, Yuyun Guna; Noviyanti, Lienda; Setyanto, Gatot R.

2017-03-01

The stock investment is a high risk investment. Therefore, there are derivative securities to reduce these risks. One of them is Asian option. The most fundamental of option is option pricing. Many factors that determine the option price are underlying asset price, strike price, maturity date, volatility, risk free interest rate and dividends. Various option pricing usually assume that risk free interest rate is constant. While in reality, this factor is stochastic process. The arithmetic Asian option is free from distribution, then, its pricing is done using the modified Black-Scholes model. In this research, the modification use the Curran approximation. This research focuses on the arithmetic Asian option pricing without dividends. The data used is the stock daily closing data of Telkom from January 1 2016 to June 30 2016. Finnaly, those option price can be used as an option trading strategy.

Stranded cost recovery presents stumbling block to open access

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

Del Roccili, J.A.

Much of the impetus for the movement to competitive power markets is a result of the tremendous variance in energy prices across the country. Large commercial and industrial customers are becoming increasingly aware of these discrepancies and are marshaling the market and political forces required to guarantee the eventual development of a national open-access transmission policy. Such a policy will facilitate competition and equalize prices on a regional, and to some extent, national level. The stumbling block, however, is the recovery of stranded investment. Under traditional regulation, historical costs could be collected through approved rates for a bundled service. Withmore » the protection of a monopoly franchise, average electricity prices provide the possibility of cost recovery for assets that might not be recoverable in a competitive market.« less

Preliminary Study on Bidding Price Ratio Pattern of Public Works in Taiwan - a Case Study of Bridges, Elevated Highways, Tunnels and Subways

NASA Astrophysics Data System (ADS)

Tseng, Paoshan; Wang, Hanhsiang; Chen, Pingfu; Yeh, Lihsu

2018-01-01

Commonly seen tender bid price information of the public works in Taiwan are the budget amount, floor price, awarding price and so on. The ratio of the awarding price to the floor price or budget price is the so-called bidding price ratio. This ratio is influenced by multifaceted factor interactions and is significant to decision making management in engineering projects. Low bidding price ratio may imply that the budget allocation by the tendering agency is inconsiderate or due to the improper market competition of low price bid rigging. High bidding price ratio in turn may indicate that the allocated budget is relatively low, bidder risks in increased contract execution uncertainty or even exclusive bidding scenario. Therefore, the correlation between the bidding price ratio and the aforementioned tender award information is the key issue of this study. This study gathered the tender information of the civil engineering projects in Taiwan within the past seven years. By performing statistical analysis and clustering the gathered data by bidding price ratio, this study investigated the influencing factors and regulations of bidding price ratio using data mining approach.

Price trend analysis and its implications for the development of new medical technologies.

PubMed

Brown, Alan; Meenan, Brian J; Young, Terry P

2007-01-01

It is assumed that a company will only develop a new medical technology if it has evidence that it will provide returns that are greater than the investment required to develop that technology and bring it to the market. The price that can be commanded for the new products and the volumes of the products that are sold determine, in large measure, the returns that will be made on the initial investment. Estimating the sales volumes and prices of products are critical factors in decision making during product development. Once in the market prices are not static. Rather they are affected by a range of factors. This paper considers the effect that market experience, represented by cumulative volume of sales, has on prices. How quickly the price declines in response to experience is dependent on a number of factors. How price trends from products already in the market can be used to inform investment decisions of new products and technologies is described.

Transferring Minority Employees: Are They Being Treated Fairly?

ERIC Educational Resources Information Center

Moore, John M.

1975-01-01

As corporations try to relocate and hire minority group members in all categories of employment, they may be ignoring a very basic problem, their housing needs. Discriminatory home pricing and financing policies may severely restrict a company's efforts to remain an equal opportunity employer. (Author)

23 CFR 635.411 - Material or product selection.

Code of Federal Regulations, 2010 CFR

2010-04-01

... Highways FEDERAL HIGHWAY ADMINISTRATION, DEPARTMENT OF TRANSPORTATION ENGINEERING AND TRAFFIC OPERATIONS... is used for research or for a distinctive type of construction on relatively short sections of road... quality and equally acceptable on the basis of engineering analysis and the anticipated prices for the...

23 CFR 635.411 - Material or product selection.

Code of Federal Regulations, 2011 CFR

2011-04-01

... Highways FEDERAL HIGHWAY ADMINISTRATION, DEPARTMENT OF TRANSPORTATION ENGINEERING AND TRAFFIC OPERATIONS... is used for research or for a distinctive type of construction on relatively short sections of road... quality and equally acceptable on the basis of engineering analysis and the anticipated prices for the...

Factors influencing global antiretroviral procurement prices

PubMed Central

2009-01-01

Background Antiretroviral medicines (ARVs) are one of the most costly parts of HIV/AIDS treatment. Many countries are struggling to provide universal access to ARVs for all people living with HIV and AIDS. Although substantial price reductions of ARVs have occurred, especially between 2002 and 2008, achieving sustainable access for the next several decades remains a major challenge for most low- and middle-income countries. The objectives of the present study were twofold: first, to analyze global ARV prices between 2005 and 2008 and associated factors, particularly procurement methods and key donor policies on ARV procurement efficiency; second, to discuss the options of procurement processes and policies that should be considered when implementing or reforming access to ARV programs. Methods An ARV-medicines price-analysis was carried out using the Global Price Reporting Mechanism from the World Health Organization. For a selection of 12 ARVs, global median prices and price variation were calculated. Linear regression models for each ARV were used to identify factors that were associated with lower procurement prices. Logistic regression models were used to identify the characteristics of those countries which procure below the highest and lowest direct manufactured costs. Results Three key factors appear to have an influence on a country's ARV prices: (a) whether the product is generic or not; (b) the socioeconomic status of the country; (c) whether the country is a member of the Clinton HIV/AIDS Initiative. Factors which did not influence procurement below the highest direct manufactured costs were HIV prevalence, procurement volume, whether the country belongs to the least developed countries or a focus country of the United States President's Emergency Plan For AIDS Relief. Conclusion One of the principal mechanisms that can help to lower prices for ARV over the next several decades is increasing procurement efficiency. Benchmarking prices could be one useful tool to achieve this. PMID:19922690

77 FR 63324 - Notice of Certain Operating Cost Adjustment Factors for 2013

Federal Register 2010, 2011, 2012, 2013, 2014

2012-10-16

...: Energy Information Agency, Natural Gas, Residential Energy Price, 2010-2011 annual prices in dollars per.... The best current price data sources for the nine cost categories were used in calculating annual change factors. State-level data for fuel oil, electricity, and natural gas from Department of Energy...

Multi-factor energy price models and exotic derivatives pricing

NASA Astrophysics Data System (ADS)

Hikspoors, Samuel

The high pace at which many of the world's energy markets have gradually been opened to competition have generated a significant amount of new financial activity. Both academicians and practitioners alike recently started to develop the tools of energy derivatives pricing/hedging as a quantitative topic of its own. The energy contract structures as well as their underlying asset properties set the energy risk management industry apart from its more standard equity and fixed income counterparts. This thesis naturally contributes to these broad market developments in participating to the advances of the mathematical tools aiming at a better theory of energy contingent claim pricing/hedging. We propose many realistic two-factor and three-factor models for spot and forward price processes that generalize some well known and standard modeling assumptions. We develop the associated pricing methodologies and propose stable calibration algorithms that motivate the application of the relevant modeling schemes.

An evaluation of the regional supply of biomass at three midwestern sites

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

English, B.C.; Dillivan, K.D.; Ojo, M.A.

1993-12-31

Research has been conducted on both the agronomy and the conversion of biomass. However, few studies have been initiated that combine the knowledge of growing biomass with site specific resource availability information. An economic appraisal of how much biomass might be grown in a specific area for a given price has only just been initiated. This paper examines the economics of introducing biomass production to three midwest representative areas centered on the following counties, Orange County, Indiana; Olmsted County, Minnesota; and Cass County, North Dakota. Using a regional linear programming model, estimates of economic feasibility as well as environmental impactsmore » are made. At a price of $53 per metric ton the biomass supplied to the plant gate is equal to 183,251 metric tons. At $62 per metric ton the biomass supply has increased to almost 1 million metric tons. The model predicts a maximum price of $88 per metric ton and at this price, 2,748,476 metric tons of biomass are produced.« less

Generic medicines: solutions for a sustainable drug market?

PubMed

Dylst, Pieter; Vulto, Arnold; Godman, Brian; Simoens, Steven

2013-10-01

Generic medicines offer equally high-quality treatment as originator medicines do at much lower prices. As such, they represent a considerable opportunity for authorities to obtain substantial savings. At the moment, the pharmaceutical landscape is changing and many pharmaceutical companies have altered their development and commercial strategies, combining both originator and generic divisions. In spite of this, the generic medicines industry is currently facing a number of challenges: delayed market access; the limited price differential with originator medicines; the continuous downwards pressure on prices; and the negative perception regarding generic medicines held by some key stakeholder groups. This could jeopardize the long-term sustainability of the generic manufacturing industry. Therefore, governments must focus on demand-side policies, alongside policies to accelerate market access, as the generic medicines industry will only be able to deliver competitive and sustainable prices if they are ensured a high volume. In the future, the generic medicines industry will increasingly look to biosimilars and generic versions of orphan drugs to expand their business.

Threshold cost-effectiveness analysis for a therapeutic vaccine against HPV-16/18-positive cervical intraepithelial neoplasia in the Netherlands.

PubMed

Luttjeboer, Jos; Setiawan, Didik; Cao, Qi; Cahh Daemen, Toos; Postma, Maarten J

2016-12-07

In this study, the potential price for a therapeutic vaccine against Human Papilloma Virus (HPV)-16 & 18 (pre)-malignant cervical lesions is examined. A decision tree model was built in the context of the new Dutch cervical cancer-screening program and includes a primary test for the presence of HPV. Based on data of cervical cancer screening and HPV prevalence in the Netherlands, cohorts were created with HPV-16 or 18 positive women with cervical intraepithelial neoplasia (CIN) 2 or 3 or cervical cancer stage 1A (FIGO 1A). In the base case, the vaccine price was based on equal numbers of effective treatments in the vaccine branch and the current treatments branch of the model, and parity in cost, i.e. total cost in both branches are the same. The vaccine price is calculated by subtracting the cost of the vaccine branch from cost in the standard treatment branch and divided by the total number of women in the cohort, thereby equalizing costs in both strategies. Scenario analyses were performed taking quality adjusted life years (QALYs) into account with €20,000/QALY, €50,000/QALY and €80,000/QALY as corresponding thresholds. Sensitivity analyses were specifically targeted at the characteristics of the type-specific HPV test in the screening practice and vaccine efficacy. A probabilistic sensitivity analysis (PSA) was performed to quantify the level of uncertainty of the results found in the base case. In the base case, break-even vaccine prices of €381, €568 and €1697 were found for CIN 2, CIN 3 and FIGO 1A, respectively. The PSA showed vaccine pricing below €310, €490 and €1660 will be cost saving with a likelihood of 95% for CIN 2, CIN 3 and FIGO 1A, respectively. The vaccine price proved to be very sensitive for inclusion of QALY gains, including the HPV-type specific test into the Dutch screening practice and vaccine efficacy. Copyright © 2016 Elsevier Ltd. All rights reserved.

Methods of increasing the harshness of texture of old concrete pavements--acid etching.

DOT National Transportation Integrated Search

1975-01-01

Of the four acids tested in the laboratory, the nitric and hydrochloric types were selected for field experiments. These two acids performed about equally well, the choice as to which to use is dictated by price and availability. In the field experim...

Alternative Fuels Data Center

Science.gov Websites

. (Reference West Virginia Code 11-14C-2, 11-14C-5, 11-14C-6a, 11-15A-13a, and 11-15-18b equivalent, with a variable component equal to at least 5% of the average wholesale price of the fuel

A Bayesian Multi-Level Factor Analytic Model of Consumer Price Sensitivities across Categories

ERIC Educational Resources Information Center

Duvvuri, Sri Devi; Gruca, Thomas S.

2010-01-01

Identifying price sensitive consumers is an important problem in marketing. We develop a Bayesian multi-level factor analytic model of the covariation among household-level price sensitivities across product categories that are substitutes. Based on a multivariate probit model of category incidence, this framework also allows the researcher to…

[Exploration of influencing factors of price of herbal based on VAR model].

PubMed

Wang, Nuo; Liu, Shu-Zhen; Yang, Guang

2014-10-01

Based on vector auto-regression (VAR) model, this paper takes advantage of Granger causality test, variance decomposition and impulse response analysis techniques to carry out a comprehensive study of the factors influencing the price of Chinese herbal, including herbal cultivation costs, acreage, natural disasters, the residents' needs and inflation. The study found that there is Granger causality relationship between inflation and herbal prices, cultivation costs and herbal prices. And in the total variance analysis of Chinese herbal and medicine price index, the largest contribution to it is from its own fluctuations, followed by the cultivation costs and inflation.

Custom LSI plus hybrid equals cost effectiveness

NASA Astrophysics Data System (ADS)

Friedman, S. N.

The possibility to combine various technologies, such as Bi-Polar linear and CMOS/Digital makes it feasible to create systems with a tailored performance not available on a single monolithic circuit. The custom LSI 'BLOCK', especially if it is universal in nature, is proving to be a cost effective way for the developer to improve his product. The custom LSI represents a low price part in contrast to the discrete components it will replace. In addition, the hybrid assembly can realize a savings in labor as a result of the reduced parts handling and associated wire bonds. The possibility of the use of automated system manufacturing techniques leads to greater reliability as the human factor is partly eliminated. Attention is given to reliability predictions, cost considerations, and a product comparison study.

Tobacco Control Polices Are Egalitarian: A Vulnerabilities Perspective on Clean Indoor Air Laws, Cigarette Prices, and Tobacco Use Disparities

PubMed Central

Glantz, Stanton; Dinno, Alexis

2009-01-01

This study models independent associations of state or local strong clean indoor air laws and cigarette prices with current smoker status and consumption in a multilevel framework, including interactions with educational attainment, household income and race/ethnicity and the relationships of these policies to vulnerabilities in smoking behavior. Cross sectional survey data are employed from the February 2002 panel of the Tobacco Use Supplement of the Current Population Survey (54,024 individuals representing the US population aged 15 to 80). Nonlinear relationships between both outcome variables and the predictors were modeled. Independent associations of strong clean indoor air laws were found for current smoker status and consumption among current smokers. Cigarette price was found to have independent associations with both outcomes, an effect that saturated at higher prices. The odds ratio for smoking for the highest versus lowest price over the range where there was a price effect was 0.83. Average consumption declined over the range of effect of price on consumption. Neither policy varied in its effect by educational attainment, or household income. The association of cigarette price with reduced smoking participation and consumption was not found to vary with race/ethnicity. Population vulnerability in consumption appears to be structured by non-white race categories, but not at the state and county levels at which the policies we studied were enacted. Clean indoor air laws and price increases appear to benefit all socio-economic and race/ethnic groups in our study equally in terms of reducing smoking participation and consumption. PMID:19282078

Factors determining the choice of hunting and trading bushmeat in the Kilombero Valley, Tanzania.

PubMed

Nielsen, Martin Reinhardt; Jacobsen, Jette Bredahl; Thorsen, Bo Jellesmark

2014-04-01

Regulation of illegal bushmeat trade is a major conservation challenge in Africa. We investigated what factors are most likely to induce actors in the bushmeat trade to shift to an alternative occupation by conducting a choice experiment with 325 actors in the bushmeat trade in the Kilombero Valley, Tanzania. Specifically, we asked respondents to choose between hunting or trading bushmeat and alternative salary-paying work, in a set of hypothetical scenarios where the attributes of these alternatives were varied and included measures of command and control, price of substitute meat, daily salary in the work option, and whether or not cows were donated to the respondent. We modeled the choice contingent on socioeconomic characteristics. The magnitude of fines and patrolling frequency had a significant but very low negative effect on the probability of choosing to engage in hunting or trading bushmeat compared with the salary of an alternative occupation. Donation of livestock and the price of substitute meats in the local market both affected the choice significantly in a negative and a positive direction, respectively. The wealthier a household was the more likely the respondent was to choose to continue hunting or trading bushmeat. On the margin, our results suggest that given current conditions in the Kilombero Valley on any given day 90% of the respondents would choose salary work at US$3.37/day over their activities in the bushmeat trade, all else equal. © 2013 Society for Conservation Biology.

Oil markets in turmoil: an economic analysis

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

Verleger, P.K. Jr.

1982-01-01

Departing from conventional wisdom about the forces most responsible for oil price increases, this book analyzes the response of consumers, oil companies, and oil-exporting nations to show that lethargy, not greed, best describes the behavior of these participants during a supply disruption. The adjustment to changes in market conditions is so slow that minor incidents are transformed into major crises. Assessing existing policy options, Verleger dispels the idea of matching supply losses with an equal cut in consumption. He recommends a free-market approach, which entails raising prices quickly, imposing large tariffs on imports, encouraging the development of private stockpiles, andmore » using spot prices as an indicator of oil shortages. He shows that the market approach will impose fewer costs than the regulatory approach in the long run. 83 references, 17 figures, 70 tables.« less

31 CFR 353.13 - Employee plans-Conditions of eligibility.

Code of Federal Regulations, 2010 CFR

2010-07-01

... plans—Conditions of eligibility. (a) Definition of plan. Employee thrift, savings, vacation and similar... any account at any time for that purpose is equal to the purchase price of a bond or bonds in an... establish the plan's eligibility. (e) Vacation plans. Savings bonds may be purchased under certain vacation...

31 CFR 353.13 - Employee plans-Conditions of eligibility.

Code of Federal Regulations, 2011 CFR

2011-07-01

... plans—Conditions of eligibility. (a) Definition of plan. Employee thrift, savings, vacation and similar... any account at any time for that purpose is equal to the purchase price of a bond or bonds in an... establish the plan's eligibility. (e) Vacation plans. Savings bonds may be purchased under certain vacation...

41 CFR 102-38.295 - May we retain sales proceeds?

Code of Federal Regulations, 2011 CFR

2011-01-01

..., equal to your direct costs and reasonably related indirect costs (including your share of the Governmentwide costs to support the eFAS Internet portal and Governmentwide reporting requirements) incurred in... subcontract provisions authorize the proceeds of sale to be credited to the price or cost of the contract or...

41 CFR 102-38.295 - May we retain sales proceeds?

Code of Federal Regulations, 2010 CFR

2010-07-01

..., equal to your direct costs and reasonably related indirect costs (including your share of the Governmentwide costs to support the eFAS Internet portal and Governmentwide reporting requirements) incurred in... subcontract provisions authorize the proceeds of sale to be credited to the price or cost of the contract or...

12 CFR 327.9 - Assessment risk categories and pricing methods.

Code of Federal Regulations, 2010 CFR

2010-01-01

... institution's financial condition and the risk posed to the Deposit Insurance Fund. The three Supervisory... method. Under the financial ratios method for Risk Category I institutions, each of six financial ratios... the Board under § 327.10(c), will equal an institution's assessment rate. The six financial ratios are...

Autonomy versus Affirmative Action: What Price Social Justice?

ERIC Educational Resources Information Center

Cavalier, Anne; Slaughter, Sheila

1982-01-01

A study measured costs of an affirmative action/equal employment opportunity program at one institution through cost analysis of personnel, operating expenses, and capital replacement value. Costs incurred in one budget cycle were 0.4 percent of the total institutional budget, most spent indirectly through faculty time, and were found…

47 CFR 51.505 - Forward-looking economic cost.

Code of Federal Regulations, 2010 CFR

2010-10-01

... 47 Telecommunication 3 2010-10-01 2010-10-01 false Forward-looking economic cost. 51.505 Section... (CONTINUED) INTERCONNECTION Pricing of Elements § 51.505 Forward-looking economic cost. (a) In general. The forward-looking economic cost of an element equals the sum of: (1) The total element long-run incremental...

Lunch Online.

ERIC Educational Resources Information Center

Savino, Ann

1998-01-01

Affluent and disadvantaged children stand in lunch lines and dine in school cafeterias as equals at the Bay Shore Schools (NY). Thanks to a computerized "LunchBox" point-of-sale system, cashiers know children by name, their birthdays, who suffers from which food allergies, and which children are entitled to free or reduced-price meals.…

18 CFR 301.2 - Definitions.

Code of Federal Regulations, 2012 CFR

2012-04-01

... 18 Conservation of Power and Water Resources 1 2012-04-01 2012-04-01 false Definitions. 301.2 Section 301.2 Conservation of Power and Water Resources FEDERAL ENERGY REGULATORY COMMISSION, DEPARTMENT... Water Mark (CHWM). The average MW amount used to define access to Tier 1 Priced-Power. CHWM is equal to...

18 CFR 301.2 - Definitions.

Code of Federal Regulations, 2011 CFR

2011-04-01

... 18 Conservation of Power and Water Resources 1 2011-04-01 2011-04-01 false Definitions. 301.2 Section 301.2 Conservation of Power and Water Resources FEDERAL ENERGY REGULATORY COMMISSION, DEPARTMENT... Water Mark (CHWM). The average MW amount used to define access to Tier 1 Priced-Power. CHWM is equal to...

18 CFR 301.2 - Definitions.

Code of Federal Regulations, 2013 CFR

2013-04-01

... 18 Conservation of Power and Water Resources 1 2013-04-01 2013-04-01 false Definitions. 301.2 Section 301.2 Conservation of Power and Water Resources FEDERAL ENERGY REGULATORY COMMISSION, DEPARTMENT... Water Mark (CHWM). The average MW amount used to define access to Tier 1 Priced-Power. CHWM is equal to...

18 CFR 301.2 - Definitions.

Code of Federal Regulations, 2014 CFR

2014-04-01

... 18 Conservation of Power and Water Resources 1 2014-04-01 2014-04-01 false Definitions. 301.2 Section 301.2 Conservation of Power and Water Resources FEDERAL ENERGY REGULATORY COMMISSION, DEPARTMENT... Water Mark (CHWM). The average MW amount used to define access to Tier 1 Priced-Power. CHWM is equal to...

48 CFR 515.408 - Solicitation provisions and contract clauses.

Code of Federal Regulations, 2010 CFR

2010-10-01

... fiscal year: $____. State beginning and ending of the 12 month period. Beginning ____ ending ____. In the... Government equal to or better than your best price (discount and concessions in any combination) offered to... standard commercial sales practices disclosed in the above chart ever result in better discounts (lower...

47 CFR 51.505 - Forward-looking economic cost.

Code of Federal Regulations, 2013 CFR

2013-10-01

... 47 Telecommunication 3 2013-10-01 2013-10-01 false Forward-looking economic cost. 51.505 Section... (CONTINUED) INTERCONNECTION Pricing of Elements § 51.505 Forward-looking economic cost. (a) In general. The forward-looking economic cost of an element equals the sum of: (1) The total element long-run incremental...

47 CFR 51.505 - Forward-looking economic cost.

Code of Federal Regulations, 2012 CFR

2012-10-01

... 47 Telecommunication 3 2012-10-01 2012-10-01 false Forward-looking economic cost. 51.505 Section... (CONTINUED) INTERCONNECTION Pricing of Elements § 51.505 Forward-looking economic cost. (a) In general. The forward-looking economic cost of an element equals the sum of: (1) The total element long-run incremental...

47 CFR 51.505 - Forward-looking economic cost.

Code of Federal Regulations, 2014 CFR

2014-10-01

... 47 Telecommunication 3 2014-10-01 2014-10-01 false Forward-looking economic cost. 51.505 Section... (CONTINUED) INTERCONNECTION Pricing of Elements § 51.505 Forward-looking economic cost. (a) In general. The forward-looking economic cost of an element equals the sum of: (1) The total element long-run incremental...

47 CFR 51.505 - Forward-looking economic cost.

Code of Federal Regulations, 2011 CFR

2011-10-01

... 47 Telecommunication 3 2011-10-01 2011-10-01 false Forward-looking economic cost. 51.505 Section... (CONTINUED) INTERCONNECTION Pricing of Elements § 51.505 Forward-looking economic cost. (a) In general. The forward-looking economic cost of an element equals the sum of: (1) The total element long-run incremental...

41 CFR 102-41.35 - Do we report to GSA all seized personal property subject to judicial forfeiture as well as...

Code of Federal Regulations, 2010 CFR

2010-07-01

... than vessels, including cargo) seized by the Department of the Interior. (e) Files of papers and... cigarettes which, if offered for sale, will not bring a price equal to the internal revenue tax due and...

41 CFR 102-41.35 - Do we report to GSA all seized personal property subject to judicial forfeiture as well as...

Code of Federal Regulations, 2014 CFR

2014-01-01

... than vessels, including cargo) seized by the Department of the Interior. (e) Files of papers and... cigarettes which, if offered for sale, will not bring a price equal to the internal revenue tax due and...

41 CFR 102-41.35 - Do we report to GSA all seized personal property subject to judicial forfeiture as well as...

Code of Federal Regulations, 2013 CFR

2013-07-01

... than vessels, including cargo) seized by the Department of the Interior. (e) Files of papers and... cigarettes which, if offered for sale, will not bring a price equal to the internal revenue tax due and...

Analysis of Commercial Pricing Factors: A Framework for Commercial Item Pricing

DTIC Science & Technology

2002-03-01

24 A. INTRODUCTION ...................................24 B. PRICING THEORIES ...............................25 1. Market Theory ...25 2. Transactional Cost Economics .................30 3. Game or Bargaining Theory ....................35 C. CURRENT PRICE...from Congressional intent to have the Government acquisition process rely on market forces to determine fair and reasonable prices. (Ref. 22, p. 2

[The aspects of pricing policy in Azerbaijan pharmaceutical sector].

PubMed

Dzhalilova, K I; Alieva, K Ia

2012-01-01

The effect of macro-, middle- and microeconomic factors on price formation in Azerbaijan pharmaceutical market has been studied. Worldwide pharmaceutical leaders have the goals to become leader on the pharmaceutical market of Azerbaijan and maximize their market share. Non-leaders pharmaceutical companies use different strategies of price formation: prime cost plus markup, or price formation on the base of current prices. It was revealed that domestic pharmaceutical market has high demand elasticity. Future market development is related to stimulation of product development, and hard penetration to the market through realization of price formation strategy. Non-state pharmaceutical organizations to achieve the purpose of survive in conditions of high competition should take in to account the factor perceptions of assortment by customers.

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

Code of Federal Regulations, 2012 CFR

2012-01-01

..., rounded to the nearest cent, shall be the protein price per pound times 3.1 plus the other solids price...) Multiply the protein price computed in paragraph (q)(1)(i) of this section by 3.1; (iii) Multiply the other... multiply the result by 1.383; (3) Add to the amount computed pursuant to paragraph (n)(2) of this section...

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

Code of Federal Regulations, 2013 CFR

2013-01-01

..., rounded to the nearest cent, shall be the protein price per pound times 3.1 plus the other solids price...) Multiply the protein price computed in paragraph (q)(1)(i) of this section by 3.1; (iii) Multiply the other... multiply the result by 1.383; (3) Add to the amount computed pursuant to paragraph (n)(2) of this section...

41 CFR 102-73.125 - How much of a price preference must Federal agencies give when acquiring leased space using the...

Code of Federal Regulations, 2010 CFR

2010-07-01

... permits tradeoffs among price and non-price factors, the Government will give a price evaluation... is offered or remains in the competition, the Government will give a 2.5 percent price preference to... 41 Public Contracts and Property Management 3 2010-07-01 2010-07-01 false How much of a price...

A natural value unit—Econophysics as arbiter between finance and economics

NASA Astrophysics Data System (ADS)

Defilla, Steivan

2007-08-01

Foreign exchange markets show that currency units ( = accounting or nominal price units) are variables. Technical and economic progress evidences that the consumer baskets ( = purchasing power units or real price units) are also variables. In contrast, all physical measurement units are constants and either defined in the SI (=metric) convention or based upon natural constants ( = “natural” or Planck units). Econophysics can identify a constant natural value scale or value unit (natural numeraire) based upon Planck energy. In honor of the economist L. Walras, this “Planck value” could be called Walras (Wal), thereby using the SI naming convention. One Wal can be shown to have a physiological and an economic interpretation in that it is equal to the annual minimal real cost of physiological life of a reference person at minimal activity. The price of one Wal in terms of any currency can be estimated by hedonic regression techniques used in inflation measurement (axiometry). This pilot research uses official disaggregated Swiss Producer and Consumer Price Index (PPI and CPI) data and estimates the hedonic Walras price (HWP), quoted in Swiss francs in 2003, and its inverse, the physical purchasing power (PhPP) of the Swiss franc in 2003.

Can Standards Increase Consumer Welfare? Evidence from a Change in Clothes Washer

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

Chen, Xiaomei; Roberts, Michael J.; Yang, Hung-Chia

We study prices and sales of individual clothes washer models before, during and after a 2007 standard that banned manufacture (but not sale) of low-e ciency units and increased the threshold for Energy Star certi cation. While quantities sold of washer models banned from manufacture decreased sharply, prices for banned models increased only modestly. At the same time, sales of higher-e ciency units rose markedly while prices for high-e ciency units declined. On average, washer e ciency increased but prices changed little. A simple welfare analysis indicates that consumer welfare loss from banned washers was far outweighed by gains frommore » lower-priced high-e ciency units. While a full cost-bene t analysis is not feasible with the available data, we estimate a lower-bound gain in consumer surplus equal to 6-16 percent of total sales. This result may accord with earlier theoretical research that shows quality standards can increase welfare in monopolistically competitive industries that possess increasing returns to scale (Ronnen, 1991). Thus, if energy e ciency is a close proxy for quality, energy e ciency standards may increase competition, market e ciency and welfare.« less

Differences in price elasticities of demand for health insurance: a systematic review.

PubMed

Pendzialek, Jonas B; Simic, Dusan; Stock, Stephanie

2016-01-01

Many health insurance systems apply managed competition principles to control costs and quality of health care. Besides other factors, managed competition relies on a sufficient price-elastic demand. This paper presents a systematic review of empirical studies on price elasticity of demand for health insurance. The objective was to identify the differing international ranges of price elasticity and to find socio-economic as well as setting-oriented factors that influence price elasticity. Relevant literature for the topic was identified through a two-step identification process including a systematic search in appropriate databases and further searches within the references of the results. A total of 45 studies from countries such as the USA, Germany, the Netherlands, and Switzerland were found. Clear differences in price elasticity by countries were identified. While empirical studies showed a range between -0.2 and -1.0 for optional primary health insurance in the US, higher price elasticities between -0.6 and -4.2 for Germany and around -2 for Switzerland were calculated for mandatory primary health insurance. Dutch studies found price elasticities below -0.5. In consideration of all relevant studies, age and poorer health status were identified to decrease price elasticity. Other socio-economic factors had an unclear impact or too limited evidence. Premium level, range of premiums, homogeneity of benefits/coverage and degree of forced decision were found to have a major influence on price elasticity in their settings. Further influence was found from supplementary insurance and premium-dependent employer contribution.

Do market components account for higher US prescription prices?

PubMed

Monaghan, M J; Monaghan, M S

1996-12-01

Although only 7-8% of US healthcare expenditures are spent on prescription drug products, the pharmaceutical industry's profitability and high cost of prescriptions to consumers make prescription drugs a visible target for reform. When compared with other products, it appears as if unfair pricing tactics are used. The pharmaceutical industry cites costs of research and development and a short patent life as justifiable grounds for high prices, but the reason why US drug prices appear to be so high has yet to be answered. To examine identified components of the pharmaceutical industry that allow US prescription drugs to appear to be highly priced and to review the apparent factors that affect pricing policies for pharmaceuticals. The literature was reviewed to identify current research regarding the pharmaceutical market. Sources included MEDLINE, Econolit, Business Periodical Index, International Pharmaceutical Abstracts, the Wall Street Journal, New York Times, and the F-D-C Pink Sheet. Key factors account for the fact that US prescription drug prices are higher and that price discrimination occurs in the pharmaceutical industry within the US and among other countries. These factors include the unique market structure of the pharmaceutical industry, asymmetry of information, research and development costs, numerous channels of distribution and the differences among them, and government laws and regulations of prescription drugs. Pricing policies of pharmaceutical companies are based on manufacturing, promotion, and distribution costs; drug characteristics; and economic goals of the parent company.

Cultural variations in the sexual marketplace: gender equality correlates with more sexual activity.

PubMed

Baumeister, Roy F; Mendoza, Juan Pablo

2011-01-01

Sexual economics theory assumes that heterosexual communities can be analyzed as marketplaces in which men offer women resources such as love, respect, money, and commitment in exchange for sex. In response to economic, political, and other disadvantages, women collectively restrict their sexuality to maintain a low supply relative to male demand, thereby ensuring a high price. Hence, we tested the hypothesis that sexual norms and practices would be more restrictive in countries marked by gender inequality than in countries where the genders were more equal. An international online sex survey (N>317,000) yielded four measures of sexual activity, and 37 nations' means on all four measures were correlated with independent (World Economic Forum) ratings of gender equality. Consistent with predictions, relatively high gender equality was associated with more casual sex, more sex partners per capita, younger ages for first sex, and greater tolerance/approval of premarital sex.

48 CFR 13.106-3 - Award and documentation.

Code of Federal Regulations, 2010 CFR

2010-10-01

...) Supporting the award decision if other than price-related factors were considered in selecting the supplier...) Comparison of the proposed price with prices found reasonable on previous purchases; (iii) Current price... being purchased; (vi) Comparison to an independent Government estimate; or (vii) Any other reasonable...

Insights into Spring 2008 Gasoline Prices

EIA Publications

2008-01-01

Gasoline prices rose rapidly in spring 2007 due a variety of factors, including refinery outages and lower than expected imports. This report explores those factors and looks at the implications for 2008.

The dynamics of fresh fruit and vegetable pricing in the supermarket channel.

PubMed

McLaughlin, Edward W

2004-09-01

This paper explains the major factors that contribute to the complicated price formation process, as several levels, of fresh fruit and vegetables in the US. Several factors are explored: marketing channels, market structure changes, pricing techniques and promotional impacts, retail responses to supply changes, and price versus value. The paper illustrates with recent examples and research findings that the fresh produce system is dynamic and that simplistic solutions to complex problems are not likely. The paper finishes by suggesting some areas for needed additional research.

Tobacco control policies are egalitarian: a vulnerabilities perspective on clean indoor air laws, cigarette prices, and tobacco use disparities.

PubMed

Dinno, Alexis; Glantz, Stanton

2009-04-01

This study models independent associations of state or local strong clean indoor air laws and cigarette prices with current smoker status and consumption in a multilevel framework, including interactions with educational attainment, household income and race/ethnicity and the relationships of these policies to vulnerabilities in smoking behavior. Cross sectional survey data are employed from the February 2002 panel of the Tobacco Use Supplement of the Current Population Survey (54,024 individuals representing the US population aged 15-80). Non-linear relationships between both outcome variables and the predictors were modeled. Independent associations of strong clean indoor air laws were found for current smoker status (OR 0.66), and consumption among current smokers (-2.36 cigarettes/day). Cigarette price was found to have independent associations with both outcomes, an effect that saturated at higher prices. The odds ratio for smoking for the highest versus lowest price over the range where there was a price effect was 0.83. Average consumption declined (-1.16 cigarettes/day) over the range of effect of price on consumption. Neither policy varied in its effect by educational attainment, or household income. The association of cigarette price with reduced smoking participation and consumption was not found to vary with race/ethnicity. Population vulnerability in consumption appears to be structured by non-white race categories, but not at the state and county levels at which the policies we studied were enacted. Clean indoor air laws and price increases appear to benefit all socio-economic and race/ethnic groups in our study equally in terms of reducing smoking participation and consumption.

A cost-benefit analysis of demand for food.

PubMed Central

Hursh, S R; Raslear, T G; Shurtleff, D; Bauman, R; Simmons, L

1988-01-01

Laboratory studies of consumer demand theory require assumptions regarding the definition of price in the absence of a medium of exchange (money). In this study we test the proposition that the fundamental dimension of price is a cost-benefit ratio expressed as the effort expended per unit of food value consumed. Using rats as subjects, we tested the generality of this "unit price" concept by varying four dimensions of price: fixed-ratio schedule, number of food pellets per fixed-ratio completion, probability of reinforcement, and response lever weight or effort. Two levels of the last three factors were combined in a 2 x 2 x 2 design giving eight groups. Each group was studied under a series of six FR schedules. Using the nominal values of all factors to determine unit price, we found that grams of food consumed plotted as a function of unit price followed a single demand curve. Similarly, total work output (responses x effort) conformed to a single function when plotted in terms of unit price. These observations provided a template for interpreting the effects of biological factors, such as brain lesions or drugs, that might alter the cost-benefit ratio. PMID:3209958

Inside Money, Procyclical Leverage, and Banking Catastrophes

PubMed Central

Brummitt, Charles D.; Sethi, Rajiv; Watts, Duncan J.

2014-01-01

We explore a model of the interaction between banks and outside investors in which the ability of banks to issue inside money (short-term liabilities believed to be convertible into currency at par) can generate a collapse in asset prices and widespread bank insolvency. The banks and investors share a common belief about the future value of certain long-term assets, but they have different objective functions; changes to this common belief result in portfolio adjustments and trade. Positive belief shocks induce banks to buy risky assets from investors, and the banks finance those purchases by issuing new short-term liabilities. Negative belief shocks induce banks to sell assets in order to reduce their chance of insolvency to a tolerably low level, and they supply more assets at lower prices, which can result in multiple market-clearing prices. A sufficiently severe negative shock causes the set of equilibrium prices to contract (in a manner given by a cusp catastrophe), causing prices to plummet discontinuously and banks to become insolvent. Successive positive and negative shocks of equal magnitude do not cancel; rather, a banking catastrophe can occur even if beliefs simply return to their initial state. Capital requirements can prevent crises by curtailing the expansion of balance sheets when beliefs become more optimistic, but they can also force larger price declines. Emergency asset price supports can be understood as attempts by a central bank to coordinate expectations on an equilibrium with solvency. PMID:25136959

Inside money, procyclical leverage, and banking catastrophes.

PubMed

Brummitt, Charles D; Sethi, Rajiv; Watts, Duncan J

2014-01-01

We explore a model of the interaction between banks and outside investors in which the ability of banks to issue inside money (short-term liabilities believed to be convertible into currency at par) can generate a collapse in asset prices and widespread bank insolvency. The banks and investors share a common belief about the future value of certain long-term assets, but they have different objective functions; changes to this common belief result in portfolio adjustments and trade. Positive belief shocks induce banks to buy risky assets from investors, and the banks finance those purchases by issuing new short-term liabilities. Negative belief shocks induce banks to sell assets in order to reduce their chance of insolvency to a tolerably low level, and they supply more assets at lower prices, which can result in multiple market-clearing prices. A sufficiently severe negative shock causes the set of equilibrium prices to contract (in a manner given by a cusp catastrophe), causing prices to plummet discontinuously and banks to become insolvent. Successive positive and negative shocks of equal magnitude do not cancel; rather, a banking catastrophe can occur even if beliefs simply return to their initial state. Capital requirements can prevent crises by curtailing the expansion of balance sheets when beliefs become more optimistic, but they can also force larger price declines. Emergency asset price supports can be understood as attempts by a central bank to coordinate expectations on an equilibrium with solvency.

A Comparison of Software Schedule Estimators

DTIC Science & Technology

1990-09-01

SLIM ...................................... 33 SPQR /20 ................................... 35 System -4 .................................... 37 Previous...24 3. PRICE-S Outputs ..................................... 26 4. COCOMO Factors by Category ........................... 28 5. SPQR /20 Activities...actual schedules experienced on the projects. The models analyzed were REVIC, PRICE-S, System-4, SPQR /20, and SEER. ix A COMPARISON OF SOFTWARE

19 CFR 351.511 - Provision of goods or services.

Code of Federal Regulations, 2011 CFR

2011-04-01

... available world market price, the Secretary will average such prices to the extent practicable, making due... normally seek to measure the adequacy of remuneration by comparing the government price to a market..., imported, or auctioned; and other factors affecting comparability. (ii) Actual market-determined price...

19 CFR 351.511 - Provision of goods or services.

Code of Federal Regulations, 2014 CFR

2014-04-01

... available world market price, the Secretary will average such prices to the extent practicable, making due... normally seek to measure the adequacy of remuneration by comparing the government price to a market..., imported, or auctioned; and other factors affecting comparability. (ii) Actual market-determined price...

19 CFR 351.511 - Provision of goods or services.

Code of Federal Regulations, 2012 CFR

2012-04-01

... available world market price, the Secretary will average such prices to the extent practicable, making due... normally seek to measure the adequacy of remuneration by comparing the government price to a market..., imported, or auctioned; and other factors affecting comparability. (ii) Actual market-determined price...

19 CFR 351.511 - Provision of goods or services.

Code of Federal Regulations, 2013 CFR

2013-04-01

... available world market price, the Secretary will average such prices to the extent practicable, making due... normally seek to measure the adequacy of remuneration by comparing the government price to a market..., imported, or auctioned; and other factors affecting comparability. (ii) Actual market-determined price...

19 CFR 351.511 - Provision of goods or services.

Code of Federal Regulations, 2010 CFR

2010-04-01

... available world market price, the Secretary will average such prices to the extent practicable, making due... normally seek to measure the adequacy of remuneration by comparing the government price to a market..., imported, or auctioned; and other factors affecting comparability. (ii) Actual market-determined price...

Perceptions on the use of pricing strategies to stimulate healthy eating among residents of deprived neighbourhoods: a focus group study

PubMed Central

2010-01-01

Background Pricing strategies are mentioned frequently as a potentially effective tool to stimulate healthy eating, mainly for consumers with a low socio-economic status. Still, it is not known how these consumers perceive pricing strategies, which pricing strategies are favoured and what contextual factors are important in achieving the anticipated effects. Methods We conducted seven focus groups among 59 residents of deprived neighbourhoods in two large Dutch cities. The focus group topics were based on insights from Rogers' Diffusion of Innovations Theory and consisted of four parts: 1) discussion on factors in food selection; 2) attitudes and perceptions towards food prices; 3) thinking up pricing strategies; 4) attitudes and perceptions regarding nine pricing strategies that were nominated by experts in a former Delphi Study. Analyses were conducted with Atlas.ti 5.2 computer software, using the framework approach. Results Qualitative analyses revealed that this group of consumers consider price to be a core factor in food choice and that they experience financial barriers against buying certain foods. Price was also experienced as a proficient tool to stimulate healthier food choices. Yet, consumers indicated that significant effects could only be achieved by combining price with information and promotion techniques. In general, pricing strategies focusing on encouraging healthy eating were valued to be more helpful than pricing strategies which focused on discouraging unhealthy eating. Suggested high reward strategies were: reducing the price of healthier options of comparable products (e.g., whole meal bread) compared to unhealthier options (e.g., white bread); providing a healthy food discount card for low-income groups; and combining price discounts on healthier foods with other marketing techniques such as displaying cheap and healthy foods at the cash desk. Conclusion This focus group study provides important new insights regarding the use of pricing strategies to stimulate healthy eating. The observed perceptions and attitudes of residents of deprived neighbourhoods can be integrated into future experimental studies and be used to reveal if and how pricing strategies are effective in stimulating healthy eating. PMID:20482857

Perceptions on the use of pricing strategies to stimulate healthy eating among residents of deprived neighbourhoods: a focus group study.

PubMed

Waterlander, Wilma E; de Mul, Anika; Schuit, Albertine J; Seidell, Jacob C; Steenhuis, Ingrid Hm

2010-05-19

Pricing strategies are mentioned frequently as a potentially effective tool to stimulate healthy eating, mainly for consumers with a low socio-economic status. Still, it is not known how these consumers perceive pricing strategies, which pricing strategies are favoured and what contextual factors are important in achieving the anticipated effects. We conducted seven focus groups among 59 residents of deprived neighbourhoods in two large Dutch cities. The focus group topics were based on insights from Rogers' Diffusion of Innovations Theory and consisted of four parts: 1) discussion on factors in food selection; 2) attitudes and perceptions towards food prices; 3) thinking up pricing strategies; 4) attitudes and perceptions regarding nine pricing strategies that were nominated by experts in a former Delphi Study. Analyses were conducted with Atlas.ti 5.2 computer software, using the framework approach. Qualitative analyses revealed that this group of consumers consider price to be a core factor in food choice and that they experience financial barriers against buying certain foods. Price was also experienced as a proficient tool to stimulate healthier food choices. Yet, consumers indicated that significant effects could only be achieved by combining price with information and promotion techniques. In general, pricing strategies focusing on encouraging healthy eating were valued to be more helpful than pricing strategies which focused on discouraging unhealthy eating. Suggested high reward strategies were: reducing the price of healthier options of comparable products (e.g., whole meal bread) compared to unhealthier options (e.g., white bread); providing a healthy food discount card for low-income groups; and combining price discounts on healthier foods with other marketing techniques such as displaying cheap and healthy foods at the cash desk. This focus group study provides important new insights regarding the use of pricing strategies to stimulate healthy eating. The observed perceptions and attitudes of residents of deprived neighbourhoods can be integrated into future experimental studies and be used to reveal if and how pricing strategies are effective in stimulating healthy eating.

31 CFR 360.13 - Employee plans-Conditions of eligibility.

Code of Federal Regulations, 2010 CFR

2010-07-01

...—Conditions of eligibility. (a) Definition of plan. Employee thrift, savings, vacation, 401(k), and similar... any account at any time for that purpose is equal to the purchase price of a $50 bond or bonds in an... establish the plan's eligibility. (e) Vacation plans. Savings bonds may be purchased under certain vacation...

31 CFR 360.13 - Employee plans-Conditions of eligibility.

Code of Federal Regulations, 2011 CFR

2011-07-01

...—Conditions of eligibility. (a) Definition of plan. Employee thrift, savings, vacation, 401(k), and similar... any account at any time for that purpose is equal to the purchase price of a $50 bond or bonds in an... establish the plan's eligibility. (e) Vacation plans. Savings bonds may be purchased under certain vacation...

42 CFR 447.514 - Upper limits for multiple source drugs.

Code of Federal Regulations, 2010 CFR

2010-10-01

... State agency plus an amount established by CMS that is equal to 250 percent of the AMP (as computed... will consider the following additional criteria: (1) The AMP of a terminated NDC will not be used to... section, the AMP of the lowest priced therapeutically and pharmaceutically equivalent drug that is not...

47 CFR 51.511 - Forward-looking economic cost per unit.

Code of Federal Regulations, 2010 CFR

2010-10-01

... 47 Telecommunication 3 2010-10-01 2010-10-01 false Forward-looking economic cost per unit. 51.511... (CONTINUED) INTERCONNECTION Pricing of Elements § 51.511 Forward-looking economic cost per unit. (a) The forward-looking economic cost per unit of an element equals the forward-looking economic cost of the...

76 FR 4393 - Discover Financial Services Negotiated Service Agreement

Federal Register 2010, 2011, 2012, 2013, 2014

2011-01-25

... filed six attachments as follows: Attachment A--a copy of Governors' Resolution No. 11-2, authorizing a... initiation of the agreement) for all qualifying pieces. For Standard Mail, the rebate will be equal to 37.5... Standard Mail prices in existence at the initiation of the agreement) for all qualifying pieces. Id. at 4...

47 CFR 51.511 - Forward-looking economic cost per unit.

Code of Federal Regulations, 2011 CFR

2011-10-01

... 47 Telecommunication 3 2011-10-01 2011-10-01 false Forward-looking economic cost per unit. 51.511... (CONTINUED) INTERCONNECTION Pricing of Elements § 51.511 Forward-looking economic cost per unit. (a) The forward-looking economic cost per unit of an element equals the forward-looking economic cost of the...

47 CFR 51.511 - Forward-looking economic cost per unit.

Code of Federal Regulations, 2014 CFR

2014-10-01

... 47 Telecommunication 3 2014-10-01 2014-10-01 false Forward-looking economic cost per unit. 51.511... (CONTINUED) INTERCONNECTION Pricing of Elements § 51.511 Forward-looking economic cost per unit. (a) The forward-looking economic cost per unit of an element equals the forward-looking economic cost of the...

47 CFR 51.511 - Forward-looking economic cost per unit.

Code of Federal Regulations, 2012 CFR

2012-10-01

... 47 Telecommunication 3 2012-10-01 2012-10-01 false Forward-looking economic cost per unit. 51.511... (CONTINUED) INTERCONNECTION Pricing of Elements § 51.511 Forward-looking economic cost per unit. (a) The forward-looking economic cost per unit of an element equals the forward-looking economic cost of the...

47 CFR 51.511 - Forward-looking economic cost per unit.

Code of Federal Regulations, 2013 CFR

2013-10-01

... 47 Telecommunication 3 2013-10-01 2013-10-01 false Forward-looking economic cost per unit. 51.511... (CONTINUED) INTERCONNECTION Pricing of Elements § 51.511 Forward-looking economic cost per unit. (a) The forward-looking economic cost per unit of an element equals the forward-looking economic cost of the...

The Four Elementary Forms of Sociality: Framework for a Unified Theory of Social Relations.

ERIC Educational Resources Information Center

Fiske, Alan Page

1992-01-01

A theory is presented that postulates that people in all cultures use four relational models to generate most kinds of social interaction, evaluation, and affect. Ethnographic and field studies (n=19) have supported cultural variations on communal sharing; authority ranking; equality matching; and market pricing. (SLD)

Some drugs more equal than others: pseudo-generics and commercial practice.

PubMed

Probyn, Andrew J

2004-11-08

This article analyses the impact of the Department of Health and Ageing's brand price premium policy for some products listed on the Pharmaceutical Benefits Scheme. The policy, introduced in 1990, allows pharmaceutical companies to charge patients an out-of-pocket expense for post-patent brands of pharmaceuticals. One of the policy's intended goals was to increase consumer awareness of price differentials between competing brands, with a view to encouraging greater use of cheaper generic products. More than fourteen years since its introduction, it is debatable whether the policy has achieved this aim. This article looks at how the brand price premium policy can be exploited by global pharmaceutical giants to entrench big-name brands in the Australian pharmaceutical market and, in some cases, prevent 'true' competition from generic pharmaceuticals. This is being done through the establishment of 'pseudo-generics' that are sourced from the same factory floor as the original product.

Price-dependent quality: examining the effects of price on multimedia quality requirements

NASA Astrophysics Data System (ADS)

Hands, David S.; Partridge, Caroline; Cheng, Kennedy; Jacobs, Richard J.

2007-02-01

Traditionally, subjective quality assessments are made in isolation of mediating factors (e.g. interest in content, price). This approach is useful for determining the pure perceptual quality of content. Recently, there has been a growing interest in understanding users' quality of experience. To move from perceptual quality assessment to quality of experience assessment, factors beyond reproduction quality must be considered. From a commercial perspective, content and price are key determinants of success. This paper investigates the relationship between price and quality. Subjects selected content that was of interest to them. Subjects were given a budget of ten pounds at the start of the test. When viewing content, subjects were free to select different levels of quality. The lowest quality was free (and subjects left the test with ten pounds). The highest quality used up the full budget (and subjects left the test with no money). A range of pricing tariffs was used in the test. During the test, subjects were allowed to prioritise quality or price. The results of the test found that subjects prioritised quality over price across all tariff levels. At the higher pricing tariffs, subjects became more price sensitive. Using data from a number of subjective tests, a utility function describing the relationship between price and quality was produced.

75 FR 68616 - Notice of Certain Operating Cost Adjustment Factors for 2011

Federal Register 2010, 2011, 2012, 2013, 2014

2010-11-08

... Labor Statistics (BLS) Consumer Price Index, All Items Less Food, Energy and shelter (Series ID.... Fuel Oil: Energy Information Agency, 2008 to 2009 Retail Price of No. 2 Fuel Oil to Residential... . Natural Gas: Energy Information Agency, Natural Gas, Residential Energy Price, 2008-2009 annual prices in...

48 CFR 352.231-71 - Pricing of adjustments.

Code of Federal Regulations, 2010 CFR

2010-10-01

... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Pricing of adjustments... Pricing of adjustments. As prescribed in 331.102-70, the Contracting Officer shall insert the following clause: Pricing of Adjustments (January 2001) When costs are a factor in determination of a contract...

48 CFR 252.243-7001 - Pricing of contract modifications.

Code of Federal Regulations, 2010 CFR

2010-10-01

... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Pricing of contract... of Provisions And Clauses 252.243-7001 Pricing of contract modifications. As prescribed in 243.205-70, use the following clause: Pricing of Contract Modifications (DEC 1991) When costs are a factor in any...

The Pricing of Economics Books.

ERIC Educational Resources Information Center

Laband, David; Hudson, John

2003-01-01

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

Latent factor structure of a behavioral economic cigarette demand curve in adolescent smokers

PubMed Central

Bidwell, L. Cinnamon; MacKillop, James; Murphy, James G.; Tidey, Jennifer W.; Colby, Suzanne M.

2012-01-01

Behavioral economic demand curves, or quantitative representations of drug consumption across a range of prices, have been used to assess motivation for a variety of drugs. Such curves generate multiple measures of drug demand that are associated with cigarette consumption and nicotine dependence. However, little is known about the relationships among these facets of demand. The aim of the study was to quantify these relationships in adolescent smokers by using exploratory factor analysis to examine the underlying structure of the facets of nicotine incentive value generated from a demand curve measure. Participants were 138 adolescent smokers who completed a hypothetical cigarette purchase task, which assessed estimated cigarette consumption at escalating levels of price/cigarette. Demand curves and five facets of demand were generated from the measure: Elasticity (i.e., 1/α or proportionate price sensitivity); Intensity (i.e., consumption at zero price); Omax (i.e., maximum financial expenditure on cigarettes); Pmax (i.e., price at which expenditure is maximized); and Breakpoint (i.e., the price that suppresses consumption to zero). Principal components analysis was used to examine the latent structure among the variables. The results revealed a two-factor solution, which were interpreted as “Persistence,” reflecting insensitivity to escalating price, and “Amplitude,” reflecting the absolute levels of consumption and price. These findings suggest a two factor structure of nicotine incentive value as measured via a demand curve. If supported, these findings have implications for understanding the relationships among individual demand indices in future behavioral economic studies and may further contribute to understanding of the nature of cigarette reinforcement. PMID:22727784

Inventory model with two rates of production for deteriorating items with permissible delay in payments

NASA Astrophysics Data System (ADS)

Roy, Ajanta; Samanta, G. P.

2011-08-01

Goyal (1985) ['Economic Order Quantity Under Conditions of Permissible Delay in Payments', Journal of Operational research Society, 36, 35-38] assumed that unit selling price and unit purchasing price are equal. But in real-life the scenario is different. The purpose of this article is to reflect the real life problem by allowing unit selling price and purchasing price to be unequal. Our model is a continuous production control inventory model for deteriorating items in which two different rates of production are available. The results are illustrated with the help of a numerical example. We discuss the sensitivity of the solution together with the changes of the values of the parameters associated with the model. Our model may be applicable in many manufacturing planning situations where management practices for deterioration are stringent; e.g. the two-production rate will be more profitable than the one-production rate in the manufacture of cold, asthma and allergy medicine. Our proposed model might be applicable to develop a prototype advance planning system for those manufacturers to integrate the management science techniques into commercial planning.

Study on Energy Productivity Ratio (EPR) at palm kernel oil processing factory: case study on PT-X at Sumatera Utara Plantation

NASA Astrophysics Data System (ADS)

Haryanto, B.; Bukit, R. Br; Situmeang, E. M.; Christina, E. P.; Pandiangan, F.

2018-02-01

The purpose of this study was to determine the performance, productivity and feasibility of the operation of palm kernel processing plant based on Energy Productivity Ratio (EPR). EPR is expressed as the ratio of output to input energy and by-product. Palm Kernel plan is process in palm kernel to become palm kernel oil. The procedure started from collecting data needed as energy input such as: palm kernel prices, energy demand and depreciation of the factory. The energy output and its by-product comprise the whole production price such as: palm kernel oil price and the remaining products such as shells and pulp price. Calculation the equality of energy of palm kernel oil is to analyze the value of Energy Productivity Ratio (EPR) bases on processing capacity per year. The investigation has been done in Kernel Oil Processing Plant PT-X at Sumatera Utara plantation. The value of EPR was 1.54 (EPR > 1), which indicated that the processing of palm kernel into palm kernel oil is feasible to be operated based on the energy productivity.

Motor Gasoline Market Spring 2007 and Implications for Spring 2008

EIA Publications

2008-01-01

This report focuses on the major factors that drove the widening difference between wholesale gasoline and crude oil prices in 2007 and explores how those factors might impact gasoline prices in 2008.

Generic drug prices and policy in Australia: room for improvement? a comparative analysis with England.

PubMed

Mansfield, Sarah J

2014-02-01

To assess the degree to which reimbursement prices in Australia and England differ for a range of generic drugs, and to analyse the supply- and demand-side factors that may contribute to these differences. Australian and English reimbursement prices were compared for a range of generic drugs using pricing information obtained from government websites. Next, a literature review was conducted to identify supply- and demand-side factors that could affect generic prices in Australia and England. Various search topics were identified addressing potential supply-side (e.g. market approval, intellectual property protection of patented drugs, generic pricing policy, market size, generic supply chain and discounting practices) and demand-side (consumers, prescribers and pharmacists) factors. Related terms were searched in academic databases, official government websites, national statistical databases and internet search engines. Analysis of drug reimbursement prices for 15 generic molecules (representing 45 different drug presentations) demonstrated that Australian prices were on average over 7-fold higher than in England. Significant supply-side differences included aspects of pricing policy, the relative size of the generics markets and the use of clawback policies. Major differences in demand-side policies related to generic prescribing, pharmacist substitution and consumer incentives. Despite recent reforms, the Australian Government continues to pay higher prices than its English counterpart for many generic medications. The results suggest that particular policy areas may benefit from review in Australia, including the length of the price-setting process, the frequency of subsequent price adjustments, the extent of price competition between originators and generics, medical professionals' knowledge about generic medicines and incentives for generic prescribing. WHAT IS KNOWN ABOUT THE TOPIC? Prices of generic drugs have been the subject of much scrutiny over recent years. From 2005 to 2010 the Australian Government responded to observations that Pharmaceutical Benefits Scheme prices for many generics were higher than in numerous comparable countries by instituting several reforms aimed at reducing the prices of generics. Despite this, several studies have demonstrated that prices for generic statins (one class of cholesterol-lowering drug) are higher in Australia compared with England and many other developed countries, and prices of numerous other generics remain higher than in the USA and New Zealand. Recently there has been increasing interest in why these differences exist. WHAT DOES THIS PAPER ADD? By including a much larger range of commonly used and costly generic drugs, this paper builds significantly on the limited previous investigations of generic drug prices in Australia and England. Additionally, this is the first comprehensive investigation of multiple supply- and, in particular, demand-side factors that may explain any price differences between these countries. WHAT ARE THE IMPLICATIONS FOR PRACTITIONERS? Practitioners may contribute to the higher prices of generic medications in Australia compared with England through relatively low rates of generic prescribing. There are also significant implications for health policy makers, as this paper demonstrates that if Australia achieved the same prices as England for many generic drugs there could be substantial savings for the Pharmaceutical Benefits Scheme.

Calculation of fuel, currency, and inland freight price adjustment factors for military marine shipping

DOT National Transportation Integrated Search

2013-11-01

This report describes the refreshing of the USTRANSCOM Economic Price Adjustment (EPA) factors for use in the USC-7 contract. The three EPA factors developed by Volpe in 2009 are the starting point for this update, and these are the Bunker Fuel Adjus...

14 CFR 1214.813 - Computation of sharing and pricing parameters.

Code of Federal Regulations, 2012 CFR

2012-01-01

... paragraph of this section shall be applied as indicated. The procedure for computing Shuttle load factor, charge factor, and flight price for Spacelab payloads replaces the procedure contained in the Shuttle policy. (2) Shuttle charge factors as derived herein apply to the standard mission destination of 160 nmi...

14 CFR 1214.813 - Computation of sharing and pricing parameters.

Code of Federal Regulations, 2013 CFR

2013-01-01

... paragraph of this section shall be applied as indicated. The procedure for computing Shuttle load factor, charge factor, and flight price for Spacelab payloads replaces the procedure contained in the Shuttle policy. (2) Shuttle charge factors as derived herein apply to the standard mission destination of 160 nmi...

14 CFR § 1214.813 - Computation of sharing and pricing parameters.

Code of Federal Regulations, 2014 CFR

2014-01-01

... paragraph of this section shall be applied as indicated. The procedure for computing Shuttle load factor, charge factor, and flight price for Spacelab payloads replaces the procedure contained in the Shuttle policy. (2) Shuttle charge factors as derived herein apply to the standard mission destination of 160 nmi...

14 CFR 1214.813 - Computation of sharing and pricing parameters.

Code of Federal Regulations, 2011 CFR

2011-01-01

... paragraph of this section shall be applied as indicated. The procedure for computing Shuttle load factor, charge factor, and flight price for Spacelab payloads replaces the procedure contained in the Shuttle policy. (2) Shuttle charge factors as derived herein apply to the standard mission destination of 160 nmi...

Pricing in health care organizations. A key component of the marketing mix.

PubMed

Marlowe, D

1989-01-01

Pricing is one of the key components of a successful marketing mix. Pricing objectives, strategies, and tactics cannot stand alone, however. To be effective, price must work in harmony with other marketing and management activities. Despite its importance, use of pricing as a management tool is limited in health care compared to other industries. Many factors contribute to this situation, including the structure of the health-care exchange process, limited consumer knowledge, and a limited ability to measure costs. I will provide an overview of pricing information, both within and outside health care. Specifically, we will explore the definition of pricing, nonmonetary pricing, price elasticity, classical pricing theory, and the role of pricing in a health-care setting.

Association of market, mission, operational, and financial factors on hospital acquisition prices: 1999 through 2001.

PubMed

McCue, Michael J; Kim, Tae Hyun

2005-01-01

Since the Balanced Budget Act of 1997, there has been a decline in the number of hospital acquisitions. Using data from 1999 through 2001, we examined the relationship between market, mission, operational, and financial factors on hospital acquisition prices. Using an ordinary least squares regression model, we found that acquiring multihospital systems paid a higher price for larger hospitals with fewer unoccupied beds and greater profitability. Although only marginally significant, we also found that acquiring hospital systems paid a higher purchase price for hospitals in near urban markets and for hospitals located in the Central region of the United States. From a policy standpoint, we found no significant difference in the purchase price paid between for-profit and nonprofit hospitals.

Static and dynamic factors in an information-based multi-asset artificial stock market

NASA Astrophysics Data System (ADS)

Ponta, Linda; Pastore, Stefano; Cincotti, Silvano

2018-02-01

An information-based multi-asset artificial stock market characterized by different types of stocks and populated by heterogeneous agents is presented. In the market, agents trade risky assets in exchange for cash. Beside the amount of cash and of stocks owned, each agent is characterized by sentiments and agents share their sentiments by means of interactions that are determined by sparsely connected networks. A central market maker (clearing house mechanism) determines the price processes for each stock at the intersection of the demand and the supply curves. Single stock price processes exhibit volatility clustering and fat-tailed distribution of returns whereas multivariate price process exhibits both static and dynamic stylized facts, i.e., the presence of static factors and common trends. Static factors are studied making reference to the cross-correlation of returns of different stocks. The common trends are investigated considering the variance-covariance matrix of prices. Results point out that the probability distribution of eigenvalues of the cross-correlation matrix of returns shows the presence of sectors, similar to those observed on real empirical data. As regarding the dynamic factors, the variance-covariance matrix of prices point out a limited number of assets prices series that are independent integrated processes, in close agreement with the empirical evidence of asset price time series of real stock markets. These results remarks the crucial dependence of statistical properties of multi-assets stock market on the agents' interaction structure.

Multi-step-ahead crude oil price forecasting using a hybrid grey wave model

NASA Astrophysics Data System (ADS)

Chen, Yanhui; Zhang, Chuan; He, Kaijian; Zheng, Aibing

2018-07-01

Crude oil is crucial to the operation and economic well-being of the modern society. Huge changes of crude oil price always cause panics to the global economy. There are many factors influencing crude oil price. Crude oil price prediction is still a difficult research problem widely discussed among researchers. Based on the researches on Heterogeneous Market Hypothesis and the relationship between crude oil price and macroeconomic factors, exchange market, stock market, this paper proposes a hybrid grey wave forecasting model, which combines Random Walk (RW)/ARMA to forecast multi-step-ahead crude oil price. More specifically, we use grey wave forecasting model to model the periodical characteristics of crude oil price and ARMA/RW to simulate the daily random movements. The innovation also comes from using the information of the time series graph to forecast crude oil price, since grey wave forecasting is a graphical prediction method. The empirical results demonstrate that based on the daily data of crude oil price, the hybrid grey wave forecasting model performs well in 15- to 20-step-ahead prediction and it always dominates ARMA and Random Walk in correct direction prediction.

The Health and Social Security Act 1984 and the price of spectacles among corporate practices in the United Kingdom (1980-2007): a review.

PubMed

Calver, Richard

2010-03-01

The Health and Social Security Act 1984 deregulated certain aspects of optometry in the United Kingdom, including advertising and the supply of spectacles, in the hope that greater competition would reduce spectacle prices. The effects of this legislation are tested by plotting the mean prices of private spectacles purchased from corporate optometric practices, from 1980 to 2007. Historical evidence is used to gauge the effect on prices of other factors such as National Health Service (NHS) payments, sight test fees and pressure exerted by consumer organisations. The high prices in 1980 reduced markedly throughout the rest of the 1980s, remained low for most of the 1990s and rose between 1999 and 2003, before falling. Changes in price were associated with changes to the system of NHS payments and variations in private sight test fees, but prices have generally been lower since the deregulation of dispensing than they were before. Although the price of private spectacles remains heavily influenced by other factors, the deregulation of opticians' services has benefited the public by maintaining lower prices, as intended by proponents of the legislation.

Implementation of fuzzy logic to determining selling price of products in a local corporate chain store

NASA Astrophysics Data System (ADS)

Kristiana, S. P. D.

2017-12-01

Corporate chain store is one type of retail industries companies that are developing growing rapidly in Indonesia. The competition between retail companies is very tight, so retailer companies should evaluate its performance continuously in order to survive. The selling price of products is one of the essential attributes and gets attention of many consumers where it’s used to evaluate the performance of the industry. This research aimed to determine optimal selling price of product with considering cost factors, namely purchase price of the product from supplier, holding costs, and transportation costs. Fuzzy logic approach is used in data processing with MATLAB software. Fuzzy logic is selected to solve the problem because this method can consider complexities factors. The result is a model of determination of the optimal selling price by considering three cost factors as inputs in the model. Calculating MAPE and model prediction ability for some products are used as validation and verification where the average value is 0.0525 for MAPE and 94.75% for prediction ability. The conclusion is this model can predict the selling price of up to 94.75%, so it can be used as tools for the corporate chain store in particular to determine the optimal selling price for its products.

Assessment of the impact of market regulation in Mali on the price of essential medicines provided through the private sector.

PubMed

Maïga, Diadié; Williams-Jones, Bryn

2010-10-01

In 1998, the government of Mali adopted a national pharmaceutical policy aimed at promoting a supply system for generic essential medicines that would guarantee equal access for all citizens. Distribution and delivery is a shared responsibility of both public and private sectors (wholesalers and pharmacies). To influence private sector behaviour, the national policy uses a combination of government regulation and market forces. In 2006, the government issued a decree fixing maximum prices in the private sector for 107 prescription drugs from the national list of 426 essential medicines. The current study assessed the impact of this intervention on the evolution of market prices (wholesale and retail), and the subsequent availability and public access to essential medicines in Mali. A cross-sectional descriptive survey was conducted in February and May 2006, and January 2009, with 16 wholesalers and 30 private drugstores in Bamako, Mali. The overall availability of essential medicines at private wholesalers (p=1) and pharmacies (p=0.53) was identical before and after the enforcement of the 2006 decree fixing maximum drug prices. Contrary to concerns expressed by wholesalers and pharmacies, and the other stakeholders, the decree did not impact negatively on availability of essential medicines. In fact, median wholesale prices in 2009 were 25.6% less than those fixed by the decree. In private pharmacies, retail prices were only 3% more expensive than the recommended prices, compared with being 25.5% more expensive prior to enforcement of the decree. The study shows that prices of essential medicines in Mali have evolved favourably towards the prices recommended by the government decree. Further, the study contributes to mounting evidence that market regulation by governments does not necessarily negatively affect drug availability; in fact, given the reduction in prices, the study shows that Malians arguably have better access to more affordable essential medicines. Copyright © 2010 Elsevier Ireland Ltd. All rights reserved.

Latent factor structure of a behavioral economic cigarette demand curve in adolescent smokers.

PubMed

Bidwell, L Cinnamon; MacKillop, James; Murphy, James G; Tidey, Jennifer W; Colby, Suzanne M

2012-11-01

Behavioral economic demand curves, or quantitative representations of drug consumption across a range of prices, have been used to assess motivation for a variety of drugs. Such curves generate multiple measures of drug demand that are associated with cigarette consumption and nicotine dependence. However, little is known about the relationships among these facets of demand. The aim of the study was to quantify these relationships in adolescent smokers by using exploratory factor analysis to examine the underlying structure of the facets of nicotine incentive value generated from a demand curve measure. Participants were 138 adolescent smokers who completed a hypothetical cigarette purchase task, which assessed estimated cigarette consumption at escalating levels of price/cigarette. Demand curves and five facets of demand were generated from the measure: Elasticity (i.e., 1/α or proportionate price sensitivity); Intensity (i.e., consumption at zero price); O(max) (i.e., maximum financial expenditure on cigarettes); P(max) (i.e., price at which expenditure is maximized); and Breakpoint (i.e., the price that suppresses consumption to zero). Principal components analysis was used to examine the latent structure among the variables. The results revealed a two-factor solution, which were interpreted as "Persistence," reflecting insensitivity to escalating price, and "Amplitude," reflecting the absolute levels of consumption and price. These findings suggest a two factor structure of nicotine incentive value as measured via a demand curve. If supported, these findings have implications for understanding the relationships among individual demand indices in future behavioral economic studies and may further contribute to understanding of the nature of cigarette reinforcement. Copyright © 2012 Elsevier Ltd. All rights reserved.

42 CFR 414.804 - Basis of payment.

Code of Federal Regulations, 2011 CFR

2011-10-01

... calculation of the price concessions percentage in order to round accurately the net total sales amount for... the ASP reporting requirement equal $200,000, and the total in dollars for the sales subject to the... for this quarter is: $50,000−(0.33333 × $50,000) = $33,334 (net total sales amount); $33,334/10,000...

42 CFR 414.804 - Basis of payment.

Code of Federal Regulations, 2010 CFR

2010-10-01

... calculation of the price concessions percentage in order to round accurately the net total sales amount for... the ASP reporting requirement equal $200,000, and the total in dollars for the sales subject to the... for this quarter is: $50,000−(0.33333 × $50,000) = $33,334 (net total sales amount); $33,334/10,000...

76 FR 71413 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-11-17

....00 (for options whose underlying stock's previous trading day's last sale price was less than or equal to $100) and between $0.10 and $5.00 (for options whose underlying stock's previous trading day's... the time for series trading between $0.03 and $5.00 (for options whose underlying stock's previous...

7 CFR 1430.208 - Payment rate and dairy operation payment.

Code of Federal Regulations, 2010 CFR

2010-01-01

... marketing order is below $16.94 per cwt. No payments will be made to dairy operations for marketings during the months that the Boston Class I milk price under the applicable milk marketing order is equal to or... percent for marketings during the period beginning on October 1, 2007, and ending on September 30, 2008...

7 CFR 1430.208 - Payment rate and dairy operation payment.

Code of Federal Regulations, 2011 CFR

2011-01-01

... marketing order is below $16.94 per cwt. No payments will be made to dairy operations for marketings during the months that the Boston Class I milk price under the applicable milk marketing order is equal to or... percent for marketings during the period beginning on October 1, 2007, and ending on September 30, 2008...

THE PRICE WE PAY FOR DISCRIMINATION.

ERIC Educational Resources Information Center

PATTERSON, BARBARA; AND OTHERS

THE COSTS, BOTH IN MONEY AND HUMAN SPIRIT, INCURRED BY THE SOUTH'S RESISTANCE TO EQUAL OPPORTUNITY HAVE BEEN FAR GREATER THAN THIS AREA AND THE NATION ARE ABLE TO AFFORD. THE ECONOMY OF MANY SOUTHERN COMMUNITIES HAS SUFFERED BECAUSE OF FAILURE TO ATTRACT INDUSTRY AND INVESTMENT, LOSS TO THE CONSUMER MARKET DUE TO BOYCOTTS, POLICE AND JAIL COSTS,…

36 CFR 223.278 - Sale of forest botanical products and collection of fees.

Code of Federal Regulations, 2010 CFR

2010-07-01

... of fair market value and costs making up the sale price must be greater than or equal to the forest... market value and a portion of the costs incurred by the Department of Agriculture associated with... the costs of any environmental or other analysis. The fair market value of forest botanical products...

77 FR 73015 - Circular Welded Non-Alloy Steel Pipe From the Republic of Korea: Preliminary Results of...

Federal Register 2010, 2011, 2012, 2013, 2014

2012-12-07

... were made at below-cost prices. For a full description of the methodology underlying our conclusions... review. For the rescinded companies, antidumping duties shall be assessed at rates equal to the cash... assessment instructions to CBP 15 days after the date of publication of this notice. Cash Deposit...

17 CFR 43.4 - Swap transaction and pricing data to be publicly disseminated in real-time.

Code of Federal Regulations, 2012 CFR

2012-04-01

... but equal to or greater than one million, round to the nearest one million; (6) If the notional or... years shall be capped at USD 250 million. (ii) The publicly disseminated notional or principal amount... and including ten years shall be capped at USD 100 million. (iii) The publicly disseminated notional...

17 CFR 43.4 - Swap transaction and pricing data to be publicly disseminated in real-time.

Code of Federal Regulations, 2013 CFR

2013-04-01

... but equal to or greater than one million, round to the nearest one million; (6) If the notional or... years shall be capped at USD 250 million. (ii) The publicly disseminated notional or principal amount... and including ten years shall be capped at USD 100 million. (iii) The publicly disseminated notional...

43 CFR 426.14 - Involuntary acquisition of land.

Code of Federal Regulations, 2010 CFR

2010-10-01

... approval, as specified in § 426.12(i), in the deed transferring title to the land to the buyer. (c) Land... eligible to receive irrigation water for a period of 5 years or until transferred to an eligible landowner... equal to the rate paid by the former owner, unless the land becomes subject to full-cost pricing through...

43 CFR 426.14 - Involuntary acquisition of land.

Code of Federal Regulations, 2011 CFR

2011-10-01

... approval, as specified in § 426.12(i), in the deed transferring title to the land to the buyer. (c) Land... eligible to receive irrigation water for a period of 5 years or until transferred to an eligible landowner... equal to the rate paid by the former owner, unless the land becomes subject to full-cost pricing through...

Optimal Consumption When Consumption Takes Time

ERIC Educational Resources Information Center

Miller, Norman C.

2009-01-01

A classic article by Gary Becker (1965) showed that when it takes time to consume, the first order conditions for optimal consumption require the marginal rate of substitution between any two goods to equal their relative full costs. These include the direct money price and the money value of the time needed to consume each good. This important…

Global Phosphorus Fertilizer Market and National Policies: A Case Study Revisiting the 2008 Price Peak.

PubMed

Khabarov, Nikolay; Obersteiner, Michael

2017-01-01

The commodity market super-cycle and food price crisis have been associated with rampant food insecurity and the Arab spring. A multitude of factors were identified as culprits for excessive volatility on the commodity markets. However, as it regards fertilizers, a clear attribution of market drivers explaining the emergence of extreme price events is still missing. In this paper, we provide a quantitative assessment of the price spike of the global phosphorus fertilizer market in 2008 focusing on diammonium phosphate (DAP). We find that fertilizer market policies in India, the largest global importer of phosphorus fertilizers and phosphate rock, turned out to be a major contributor to the global price spike. India doubled its import of P-fertilizer in 2008 at a time when prices doubled. The analysis of a wide set of factors pertinent to the 2008 price spike in phosphorus fertilizer market leads us to the discovery of a price spike magnification and triggering mechanisms. We find that the price spike was magnified on the one hand by protective trade measures of fertilizer suppliers leading to a 19% drop in global phosphate fertilizer export. On the other hand, the Indian fertilizer subsidy scheme led to farmers not adjusting their demand for fertilizer. The triggering mechanism appeared to be the Indian production outage of P-fertilizer resulting in the additional import demand for DAP in size of about 20% of annual global supply. The main conclusion is that these three factors have jointly caused the spike, underscoring the need for ex ante improvements in fertilizer market regulation on both national and international levels.

76 FR 74093 - Self-Regulatory Organizations; EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-11-30

.... Like options, the price of rights and warrants are affected by the price of the underlying stock as well as other factors, particularly the volatility of the stock. As a consequence, the prices of rights and warrants may move more dramatically than the prices of the underlying stocks even when the rights...

Evaluation of fuel usage factors in highway construction in Oregon.

DOT National Transportation Integrated Search

2010-05-01

Prices for different construction materials change frequently. In recent years, the price for these different materials has dramatically increased. This result leads contractors to inflate the bid price for a construction project in order to cover th...

Cost-savings for biosimilars in the United States: a theoretical framework and budget impact case study application using filgrastim.

PubMed

Grewal, Simrun; Ramsey, Scott; Balu, Sanjeev; Carlson, Josh J

2018-05-18

Biosimilars can directly reduce the cost of treating patients for whom a reference biologic is indicated by offering a highly similar, lower priced alternative. We examine factors related to biosimilar regulatory approval, uptake, pricing, and financing and the potential impact on drug expenditures in the U.S. We developed a framework to illustrate how key factors including regulatory policies, provider and patient perception, pricing, and payer policies impact biosimilar cost-savings. Further, we developed a budget impact cost model to estimate savings from filgrastim biosimilars under various scenarios. The model uses publicly available data on disease incidence, treatment patterns, market share, and drug prices to estimate the cost-savings over a 5-year time horizon. We estimate five-year cost savings of $256 million, of which 18% ($47 million) are from reduced patient out-of-pocket costs, 34% ($86 million) are savings to commercial payers, and 48% ($123 million) are savings for Medicare. Additional scenarios demonstrate the impact of uncertain factors, including price, uptake, and financing policies. A variety or interrelated factors influence the development, uptake, and cost-savings for Biosimilars use in the U.S. The filgrastim case is a useful example that illustrates these factors and the potential magnitude of costs savings.

Factors Affecting the Relationship between Crude Oil and Natural Gas Prices (released in AEO2010)

EIA Publications

2010-01-01

Over the 1995-2005 period, crude oil prices and U.S. natural gas prices tended to move together, which supported the conclusion that the markets for the two commodities were connected. Figure 26 illustrates the fairly stable ratio over that period between the price of low-sulfur light crude oil at Cushing, Oklahoma, and the price of natural gas at the Henry Hub on an energy-equivalent basis.

Research on the factors influencing the price of commercial housing based on support vector machine (SVM)

NASA Astrophysics Data System (ADS)

Xiaoyang, Zhong; Hong, Ren; Jingxin, Gao

2018-03-01

With the gradual maturity of the real estate market in China, urban housing prices are also better able to reflect changes in market demand and the commodity property of commercial housing has become more and more obvious. Many scholars in our country have made a lot of research on the factors that affect the price of commercial housing in the city and the number of related research papers increased rapidly. These scholars’ research results provide valuable wealth to solve the problem of urban housing price changes in our country. However, due to the huge amount of literature, the vast amount of information is submerged in the library and cannot be fully utilized. Text mining technology has been widely concerned and developed in the field of Humanities and Social Sciences in recent years. But through the text mining technology to obtain the influence factors on the price of urban commercial housing is still relatively rare. In this paper, the research results of the existing scholars were excavated by text mining algorithm based on support vector machine in order to further make full use of the current research results and to provide a reference for stabilizing housing prices.

Best bang for your buck: GPU nodes for GROMACS biomolecular simulations

PubMed Central

Páll, Szilárd; Fechner, Martin; Esztermann, Ansgar; de Groot, Bert L.; Grubmüller, Helmut

2015-01-01

The molecular dynamics simulation package GROMACS runs efficiently on a wide variety of hardware from commodity workstations to high performance computing clusters. Hardware features are well‐exploited with a combination of single instruction multiple data, multithreading, and message passing interface (MPI)‐based single program multiple data/multiple program multiple data parallelism while graphics processing units (GPUs) can be used as accelerators to compute interactions off‐loaded from the CPU. Here, we evaluate which hardware produces trajectories with GROMACS 4.6 or 5.0 in the most economical way. We have assembled and benchmarked compute nodes with various CPU/GPU combinations to identify optimal compositions in terms of raw trajectory production rate, performance‐to‐price ratio, energy efficiency, and several other criteria. Although hardware prices are naturally subject to trends and fluctuations, general tendencies are clearly visible. Adding any type of GPU significantly boosts a node's simulation performance. For inexpensive consumer‐class GPUs this improvement equally reflects in the performance‐to‐price ratio. Although memory issues in consumer‐class GPUs could pass unnoticed as these cards do not support error checking and correction memory, unreliable GPUs can be sorted out with memory checking tools. Apart from the obvious determinants for cost‐efficiency like hardware expenses and raw performance, the energy consumption of a node is a major cost factor. Over the typical hardware lifetime until replacement of a few years, the costs for electrical power and cooling can become larger than the costs of the hardware itself. Taking that into account, nodes with a well‐balanced ratio of CPU and consumer‐class GPU resources produce the maximum amount of GROMACS trajectory over their lifetime. © 2015 The Authors. Journal of Computational Chemistry Published by Wiley Periodicals, Inc. PMID:26238484

Best bang for your buck: GPU nodes for GROMACS biomolecular simulations.

PubMed

Kutzner, Carsten; Páll, Szilárd; Fechner, Martin; Esztermann, Ansgar; de Groot, Bert L; Grubmüller, Helmut

2015-10-05

The molecular dynamics simulation package GROMACS runs efficiently on a wide variety of hardware from commodity workstations to high performance computing clusters. Hardware features are well-exploited with a combination of single instruction multiple data, multithreading, and message passing interface (MPI)-based single program multiple data/multiple program multiple data parallelism while graphics processing units (GPUs) can be used as accelerators to compute interactions off-loaded from the CPU. Here, we evaluate which hardware produces trajectories with GROMACS 4.6 or 5.0 in the most economical way. We have assembled and benchmarked compute nodes with various CPU/GPU combinations to identify optimal compositions in terms of raw trajectory production rate, performance-to-price ratio, energy efficiency, and several other criteria. Although hardware prices are naturally subject to trends and fluctuations, general tendencies are clearly visible. Adding any type of GPU significantly boosts a node's simulation performance. For inexpensive consumer-class GPUs this improvement equally reflects in the performance-to-price ratio. Although memory issues in consumer-class GPUs could pass unnoticed as these cards do not support error checking and correction memory, unreliable GPUs can be sorted out with memory checking tools. Apart from the obvious determinants for cost-efficiency like hardware expenses and raw performance, the energy consumption of a node is a major cost factor. Over the typical hardware lifetime until replacement of a few years, the costs for electrical power and cooling can become larger than the costs of the hardware itself. Taking that into account, nodes with a well-balanced ratio of CPU and consumer-class GPU resources produce the maximum amount of GROMACS trajectory over their lifetime. © 2015 The Authors. Journal of Computational Chemistry Published by Wiley Periodicals, Inc.

Evaluation of fuel usage factors in highway construction in Oregon : final report.

DOT National Transportation Integrated Search

2010-05-01

Prices for different construction materials change frequently. In recent years, the price for these different materials has dramatically increased. This result leads contractors to inflate the bid price for a construction project in order to cover th...

Understanding Price Formation in Electricity Markets

NASA Astrophysics Data System (ADS)

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

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

Natural gas: It's headed from surplus to shortage

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

Parent, L.V.

1988-02-01

Reserve additions in the lower 48 states are not keeping up with the current rate of production, and deliverability surplus will soon become deliverability shortfall during periods of extended peak demand. Surplus deliverability will likely fade away, inasmuch as gas well completions are less than half of what they were when additions exceeded the current production rate of 16 tcf/year, and the outlook for a sharp increase in completions is bleak. Demand, lackluster before the recent cold weather, is likely to suffer some loss in markets where lower resid prices can switch loads back to oil. Year-end '87 price spikesmore » were a welcome relief to spot gas sellers, but low reside prices have already put a lid on what industrial users and power plants will pay. As an immature market struggles to develop structure in a quasi-deregulated environment, the Ferc is reduced to tinkering with the minutiae of Order 500, as it seeks to create a compromise that would be equally unsatisfactory to all. Canada is increasing its stake in the game. Canadian producers demonstrated their willingness to accept 1987's low price levels and be players. It will be another problem year for U.S. producers, as price relief for spot gas is more than offset by the Order 500 dilemma and drilling cost increases exceed wellhead price increases. Canadian gas will take a bigger piece of a desultory market. But pending shortfalls promise a better day for those with patience, stamina and deep pockets.« less

Examination of Parameters Affecting the House Prices by Multiple Regression Analysis and its Contributions to Earthquake-Based Urban Transformation

NASA Astrophysics Data System (ADS)

Denli, H. H.; Durmus, B.

2016-12-01

The purpose of this study is to examine the factors which may affect the apartment prices with multiple linear regression analysis models and visualize the results by value maps. The study is focused on a county of Istanbul - Turkey. Totally 390 apartments around the county Umraniye are evaluated due to their physical and locational conditions. The identification of factors affecting the price of apartments in the county with a population of approximately 600k is expected to provide a significant contribution to the apartment market.Physical factors are selected as the age, number of rooms, size, floor numbers of the building and the floor that the apartment is positioned in. Positional factors are selected as the distances to the nearest hospital, school, park and police station. Totally ten physical and locational parameters are examined by regression analysis.After the regression analysis has been performed, value maps are composed from the parameters age, price and price per square meters. The most significant of the composed maps is the price per square meters map. Results show that the location of the apartment has the most influence to the square meter price information of the apartment. A different practice is developed from the composed maps by searching the ability of using price per square meters map in urban transformation practices. By marking the buildings older than 15 years in the price per square meters map, a different and new interpretation has been made to determine the buildings, to which should be given priority during an urban transformation in the county.This county is very close to the North Anatolian Fault zone and is under the threat of earthquakes. By marking the apartments older than 15 years on the price per square meters map, both older and expensive square meters apartments list can be gathered. By the help of this list, the priority could be given to the selected higher valued old apartments to support the economy of the country during an earthquake loss. We may call this urban transformation as earthquake-based urban transformation.

76 FR 74084 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-11-30

... price of rights and warrants are affected by the price of the underlying stock as well as other factors, particularly the volatility of the stock. As a consequence, the prices of rights and warrants may move more dramatically than the prices of the underlying stocks even when the rights and warrants (and the underlying...

The effect of a major cigarette price change on smoking behavior in california: a zero-inflated negative binomial model.

PubMed

Sheu, Mei-Ling; Hu, Teh-Wei; Keeler, Theodore E; Ong, Michael; Sung, Hai-Yen

2004-08-01

The objective of this paper is to determine the price sensitivity of smokers in their consumption of cigarettes, using evidence from a major increase in California cigarette prices due to Proposition 10 and the Tobacco Settlement. The study sample consists of individual survey data from Behavioral Risk Factor Survey (BRFS) and price data from the Bureau of Labor Statistics between 1996 and 1999. A zero-inflated negative binomial (ZINB) regression model was applied for the statistical analysis. The statistical model showed that price did not have an effect on reducing the estimated prevalence of smoking. However, it indicated that among smokers the price elasticity was at the level of -0.46 and statistically significant. Since smoking prevalence is significantly lower than it was a decade ago, price increases are becoming less effective as an inducement for hard-core smokers to quit, although they may respond by decreasing consumption. For those who only smoke occasionally (many of them being young adults) price increases alone may not be an effective inducement to quit smoking. Additional underlying behavioral factors need to be identified so that more effective anti-smoking strategies can be developed.

Characteristics of low-priced solar PV systems in the U.S.

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

Nemet, Gregory F.; O’Shaughnessy, Eric; Wiser, Ryan

Despite impressive declines in average prices, there is wide dispersion in the prices of U.S. solar photovoltaic (PV) systems; prices span more than a factor of four. What are the characteristics of the systems with low-prices? Using detailed characteristics of 42,611 small-scale (<15 kW) PV systems installed in 15 U.S. states during 2013, we identify the most important factors that make a system likely to be low-priced (LP). Comparing LP and non-LP systems, we find statistically significant differences in nearly all characteristics for which we have data. Logit and probit model results robustly indicate that LP systems are associated with:more » markets with few active installers; experienced installers; customer ownership; large systems; retrofits; and thin-film, low-efficiency, and Chinese modules. We also find significant differences across states, with LP systems much more likely to occur in some states, such as Arizona, New Jersey, and New Mexico, and less likely in others, such as California. Our focus on the left tail of the price distribution provides implications for policy that are distinct from recent studies of mean prices. While those studies find that PV subsidies increase mean prices, we find that subsidies also generate LP systems. PV subsidies appear to simultaneously shift and broaden the price distribution. Much of this broadening occurs in a particular location, northern California.« less

The estimation of time-varying risks in asset pricing modelling using B-Spline method

NASA Astrophysics Data System (ADS)

Nurjannah; Solimun; Rinaldo, Adji

2017-12-01

Asset pricing modelling has been extensively studied in the past few decades to explore the risk-return relationship. The asset pricing literature typically assumed a static risk-return relationship. However, several studies found few anomalies in the asset pricing modelling which captured the presence of the risk instability. The dynamic model is proposed to offer a better model. The main problem highlighted in the dynamic model literature is that the set of conditioning information is unobservable and therefore some assumptions have to be made. Hence, the estimation requires additional assumptions about the dynamics of risk. To overcome this problem, the nonparametric estimators can also be used as an alternative for estimating risk. The flexibility of the nonparametric setting avoids the problem of misspecification derived from selecting a functional form. This paper investigates the estimation of time-varying asset pricing model using B-Spline, as one of nonparametric approach. The advantages of spline method is its computational speed and simplicity, as well as the clarity of controlling curvature directly. The three popular asset pricing models will be investigated namely CAPM (Capital Asset Pricing Model), Fama-French 3-factors model and Carhart 4-factors model. The results suggest that the estimated risks are time-varying and not stable overtime which confirms the risk instability anomaly. The results is more pronounced in Carhart’s 4-factors model.

Pricing Policy and the College Choice Process.

ERIC Educational Resources Information Center

Chapman, Randall G.

1979-01-01

A marketing management paradigm for academe is discussed along with aspects of the pricing policy process. The two most important factors affecting the college choice process are shown to be college quality and price-related considerations. Implications for marketing are discussed. (Author/LBH)

What cigarette price is required for smokers to attempt to quit smoking? Findings from the ITC Korea Waves 2 and 3 Survey.

PubMed

Park, Eun-Ja; Park, Susan; Cho, Sung-il; Kim, Yeol; Seo, Hong Gwan; Driezen, Pete; Quah, Anne C K; Fong, Geoffrey T

2015-07-01

We assess the cigarette price that would motivate smokers to quit. We also explore the factors associated with the required price, including exposures to non-tax tobacco control policies. Cross-sectional analysis was conducted on data from 1257 male smokers, who participated in either Wave 2 or 3 of the ITC Korea Survey. Information was obtained on what cigarette price per pack would make them try to quit ('price to quit'). Tobit regression on log-transformed price and logistic regression on non-quitting were conducted to identify associated factors. The median price to quit was KRW5854 (US$5.31)/pack, given the current price of KRW2500 (US$2.27)/pack. Younger age, higher education, lack of concern about the health effects of smoking, lack of quit attempts and more cigarettes consumed per day were related to a higher price needed for a quit attempt. Exposures to combinations of non-tax policies were significantly associated with lower price levels to be motivated to quit. Considering the large price increase required for quit attempts, tax policy needs to be combined with other policies, particularly for certain groups, such as heavy smokers. Strengthening non-tax policies is likely to facilitate greater responsiveness to tax policy. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://group.bmj.com/group/rights-licensing/permissions.

Multifractality of sectoral price indices: Hurst signature analysis of Cantillon effects in disequilibrium factor markets

NASA Astrophysics Data System (ADS)

Mulligan, Robert F.

2014-06-01

This paper presents Hurst exponent signatures from time series of aggregate price indices for the US over the 1975-2011 time period. Though all highly aggregated, these indices include both broad measures of consumer and producer prices. The constellation of prices evolves as a complex system throughout processes of production and distribution, culminating in the final delivery of output to consumers. Massive feedback characterizes this system, where the demand for consumable output determines the demand for the inputs used to produce it, and supply scarcities for the necessary inputs in turn determine the supply of the final product. Prices in both factor and output markets are jointly determined by interdependent supply and demand conditions. Fractal examination of the interplay among market prices would be of interest regardless, but added interest arises from the consideration of how these markets respond to external shocks over the business cycle, particularly monetary expansion. Because the initial impact of monetary injection is localized in specific sectors, the way the impact on prices diffuses throughout the economy is of special interest.

Errata, nursing homes. Budget percentiles for baseline and redesigned commercial type buildings: cities with try weather tapes; based on resource utilization factors (RUF); based on price weighting factors (PWF)

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

Not Available

Corrected data are presented for the P50 Redesign figure for nursing homes in the following documents in the series entitled Budget Percentiles for Baseline and Redesigned Commercial Type Buildings: For Cities with TRY Weather Tapes, Based on Price Weighing Factors (PWF), and Based on Resource Utilization Factors (RUF). (MCW)

Global Phosphorus Fertilizer Market and National Policies: A Case Study Revisiting the 2008 Price Peak

PubMed Central

Khabarov, Nikolay; Obersteiner, Michael

2017-01-01

The commodity market super-cycle and food price crisis have been associated with rampant food insecurity and the Arab spring. A multitude of factors were identified as culprits for excessive volatility on the commodity markets. However, as it regards fertilizers, a clear attribution of market drivers explaining the emergence of extreme price events is still missing. In this paper, we provide a quantitative assessment of the price spike of the global phosphorus fertilizer market in 2008 focusing on diammonium phosphate (DAP). We find that fertilizer market policies in India, the largest global importer of phosphorus fertilizers and phosphate rock, turned out to be a major contributor to the global price spike. India doubled its import of P-fertilizer in 2008 at a time when prices doubled. The analysis of a wide set of factors pertinent to the 2008 price spike in phosphorus fertilizer market leads us to the discovery of a price spike magnification and triggering mechanisms. We find that the price spike was magnified on the one hand by protective trade measures of fertilizer suppliers leading to a 19% drop in global phosphate fertilizer export. On the other hand, the Indian fertilizer subsidy scheme led to farmers not adjusting their demand for fertilizer. The triggering mechanism appeared to be the Indian production outage of P-fertilizer resulting in the additional import demand for DAP in size of about 20% of annual global supply. The main conclusion is that these three factors have jointly caused the spike, underscoring the need for ex ante improvements in fertilizer market regulation on both national and international levels. PMID:28660192

Aspheric design for manufacturability

NASA Astrophysics Data System (ADS)

Kreischer, Cody B.

2007-05-01

The experienced lens designer is well aware of the potential advantages aspherics can afford. Within the last few years, machines specifically designed for the CNC machining and polishing of glass aspheres have become commercially available through several manufacturers. This has brought down manufacturing cost to the point that designs incorporating aspheres can be used to reduce system cost compared to all spherical designs. (That is aspheres are no longer used just to save space and weight at the expense of cost.) Not all aspheres are equally manufacturable, however. Arbitrary choices at the beginning of a design can have major impact on manufacturing cost and limit final "as built" performance. This paper considers factors in designing ground and polished (as opposed to molded) glass aspheres which may not be obvious to even the experienced lens designer accustomed to using spherical surfaces or who has dealt with diamond turned aspheres. Factors considered include the surface shape, how the shape is specified, how the surface is to be tested and how it is toleranced. Emphasis will be placed on medium priced components where practical considerations are important.

17 CFR 230.144 - Persons deemed not to be engaged in a distribution and therefore not underwriters.

Code of Federal Regulations, 2011 CFR

2011-04-01

... fair market value at least equal to the purchase price of the securities purchased; and (iii) Shall... broker or the date of execution of the transaction directly with a market maker, or (iii) The average... or an effective national market system plan as those terms are defined in § 242.600 of this chapter...

17 CFR 230.144 - Persons deemed not to be engaged in a distribution and therefore not underwriters.

Code of Federal Regulations, 2014 CFR

2014-04-01

... fair market value at least equal to the purchase price of the securities purchased; and (iii) Shall... broker or the date of execution of the transaction directly with a market maker, or (iii) The average... or an effective national market system plan as those terms are defined in § 242.600 of this chapter...

17 CFR 230.144 - Persons deemed not to be engaged in a distribution and therefore not underwriters.

Code of Federal Regulations, 2012 CFR

2012-04-01

... fair market value at least equal to the purchase price of the securities purchased; and (iii) Shall... broker or the date of execution of the transaction directly with a market maker, or (iii) The average... or an effective national market system plan as those terms are defined in § 242.600 of this chapter...

17 CFR 230.144 - Persons deemed not to be engaged in a distribution and therefore not underwriters.

Code of Federal Regulations, 2013 CFR

2013-04-01

... fair market value at least equal to the purchase price of the securities purchased; and (iii) Shall... broker or the date of execution of the transaction directly with a market maker, or (iii) The average... or an effective national market system plan as those terms are defined in § 242.600 of this chapter...

78 FR 4919 - Self-Regulatory Organizations; NYSE Arca, Inc.; Order Instituting Proceedings To Determine...

Federal Register 2010, 2011, 2012, 2013, 2014

2013-01-23

... respective barrier price, a cash settlement payment in an amount equal to the difference between the strike... options sold, then decremented by cash settlements of any down-and-in put options expiring in-the-money... end of the previous quarter; Option Value is the settlement value of each of the 20 down-and-in put...

47 CFR 61.49 - Supporting information to be submitted with letters of transmittal for tariffs of carriers...

Code of Federal Regulations, 2014 CFR

2014-10-01

... accompanied by supporting materials sufficient to calculate required adjustments to each PCI, API, and SBI... that results in an API value that is equal to or less than the applicable PCI value, must be... proposed rates. (d) Each price cap tariff filing that proposes rates that will result in an API value that...

47 CFR 61.49 - Supporting information to be submitted with letters of transmittal for tariffs of carriers...

Code of Federal Regulations, 2013 CFR

2013-10-01

... accompanied by supporting materials sufficient to calculate required adjustments to each PCI, API, and SBI... that results in an API value that is equal to or less than the applicable PCI value, must be... proposed rates. (d) Each price cap tariff filing that proposes rates that will result in an API value that...

47 CFR 61.49 - Supporting information to be submitted with letters of transmittal for tariffs of carriers...

Code of Federal Regulations, 2012 CFR

2012-10-01

... accompanied by supporting materials sufficient to calculate required adjustments to each PCI, API, and SBI... that results in an API value that is equal to or less than the applicable PCI value, must be... proposed rates. (d) Each price cap tariff filing that proposes rates that will result in an API value that...

47 CFR 61.49 - Supporting information to be submitted with letters of transmittal for tariffs of carriers...

Code of Federal Regulations, 2011 CFR

2011-10-01

... accompanied by supporting materials sufficient to calculate required adjustments to each PCI, API, and SBI... that results in an API value that is equal to or less than the applicable PCI value, must be... proposed rates. (d) Each price cap tariff filing that proposes rates that will result in an API value that...

Determinants of branded prescription medicine prices in OECD countries.

PubMed

Kanavos, Panos G; Vandoros, Sotiris

2011-07-01

This paper investigates the determinants of the prices of branded prescription medicines across different regulatory settings and health care systems, taking into account their launch date, patent status, market dynamics and the regulatory context in which they diffuse. By using volume-weighted price indices, this paper analyzes price levels for a basket of prescription medicines and their differences in 15 OECD countries, including the United States and key European countries, the impact of distribution margins and generic entry on public prices and to what extent innovation, by means of introducing newer classes of medicines, contributes to price formation across countries. In doing so, the paper seeks to understand the factors that contribute to the existing differences in prices across countries, whether at an ex-factory or a retail level. The evidence shows that retail prices for branded prescription medicines in the United States are higher than those in key European and other OECD countries, but not as high as widely thought. Large differences in prices are mainly observed at an ex-factory level, but these are not the prices that consumers and payers pay. Cross-country differences in retail prices are actually not as high as expected and, when controlling for exchange rates, these differences can be even smaller. Product age has a significant effect on prices in all settings after having controlled for other factors. Price convergence is observed across countries for newer prescription medicines compared with older medicines. There is no evidence that originator brand prices fall after generic entry in the United States, a phenomenon known as the 'generics paradox'. Finally, distribution and taxes are important determinants of retail prices in several of the study countries. To the extent that remuneration of the distribution chain and taxation are directly and proportionately linked to product prices this is likely to persist over time.

Market penetration of biodiesel and ethanol

NASA Astrophysics Data System (ADS)

Szulczyk, Kenneth Ray

This dissertation examines the influence that economic and technological factors have on the penetration of biodiesel and ethanol into the transportation fuels market. This dissertation focuses on four aspects. The first involves the influence of fossil fuel prices, because biofuels are substitutes and have to compete in price. The second involves biofuel manufacturing technology, principally the feedstock-to-biofuel conversion rates, and the biofuel manufacturing costs. The third involves prices for greenhouse gas offsets. The fourth involves the agricultural commodity markets for feedstocks, and biofuel byproducts. This dissertation uses the Forest and Agricultural Sector Optimization Model-Greenhouse Gas (FASOM-GHG) to quantitatively examine these issues and calculates equilibrium prices and quantities, given market interactions, fossil fuel prices, carbon dioxide equivalent prices, government biofuel subsidies, technological improvement, and crop yield gains. The results indicate that for the ranges studied, gasoline prices have a major impact on aggregate ethanol production but only at low prices. At higher prices, one runs into a capacity constraint that limits expansion on the capacity of ethanol production. Aggregate biodiesel production is highly responsive to gasoline prices and increases over time. (Diesel fuel price is proportional to the gasoline price). Carbon dioxide equivalent prices expand the biodiesel industry, but have no impact on ethanol aggregate production when gasoline prices are high again because of refinery capacity expansion. Improvement of crop yields shows a similar pattern, expanding ethanol production when the gasoline price is low and expanding biodiesel. Technological improvement, where biorefinery production costs decrease over time, had minimal impact on aggregate ethanol and biodiesel production. Finally, U.S. government subsidies have a large expansionary impact on aggregate biodiesel production. Finally, U.S. government subsidies have a large expansionary impact on aggregate biodiesel production, but only expand the ethanol industry at low gasoline prices. All of these factors increase agricultural welfare with most expanding producer surplus and mixed effects on consumers.

Prediction of future uniform milk prices in Florida federal milk marketing order 6 from milk futures markets.

PubMed

De Vries, A; Feleke, S

2008-12-01

This study assessed the accuracy of 3 methods that predict the uniform milk price in Federal Milk Marketing Order 6 (Florida). Predictions were made for 1 to 12 mo into the future. Data were from January 2003 to May 2007. The CURRENT method assumed that future uniform milk prices were equal to the last announced uniform milk price. The F+BASIS and F+UTIL methods were based on the milk futures markets because the futures prices reflect the market's expectation of the class III and class IV cash prices that are announced monthly by USDA. The F+BASIS method added an exponentially weighted moving average of the difference between the class III cash price and the historical uniform milk price (also known as basis) to the class III futures price. The F+UTIL method used the class III and class IV futures prices, the most recently announced butter price, and historical utilizations to predict the skim milk prices, butterfat prices, and utilizations in all 4 classes. Predictions of future utilizations were made with a Holt-Winters smoothing method. Federal Milk Marketing Order 6 had high class I utilization (85 +/- 4.8%). Mean and standard deviation of the class III and class IV cash prices were $13.39 +/- 2.40/cwt (1 cwt = 45.36 kg) and $12.06 +/- 1.80/cwt, respectively. The actual uniform price in Tampa, Florida, was $16.62 +/- 2.16/cwt. The basis was $3.23 +/- 1.23/cwt. The F+BASIS and F+UTIL predictions were generally too low during the period considered because the class III cash prices were greater than the corresponding class III futures prices. For the 1- to 6-mo-ahead predictions, the root of the mean squared prediction errors from the F+BASIS method were $1.12, $1.20, $1.55, $1.91, $2.16, and $2.34/cwt, respectively. The root of the mean squared prediction errors ranged from $2.50 to $2.73/cwt for predictions up to 12 mo ahead. Results from the F+UTIL method were similar. The accuracies of the F+BASIS and F+UTIL methods for all 12 fore-cast horizons were not significantly different. Application of the modified Mariano-Diebold tests showed that no method included all the information contained in the other methods. In conclusion, both F+BASIS and F+UTIL methods tended to more accurately predict the future uniform milk prices than the CURRENT method, but prediction errors could be substantial even a few months into the future. The majority of the prediction error was caused by the inefficiency of the futures markets to predict the class III cash prices.

78 FR 2571 - Special Access for Price Cap Local Exchange Carriers; AT&T Corporation Petition for Rulemaking To...

Federal Register 2010, 2011, 2012, 2013, 2014

2013-01-11

...., observed sales and purchases). This allows for an analysis that controls for factors that may vary widely... those factors that affect providers' decisions to expand existing networks, e.g., the non-price factors... Street SW., Room CY-A257, Washington, DC 20554. The complete text may be purchased from Best Copy and...

Care and Feeding of the Money Tree: Pricing and Financial Aid Strategies and Their Market Implications at Private Colleges and Universities.

ERIC Educational Resources Information Center

Zuker, Fred

2000-01-01

Considers the dilemma of higher priced college attendance from the viewpoint of private institutions. Identifies and discusses factors currently driving increase in tuition costs and also factors likely to influence relative cost in the next ten years. This discussion includes both increasing and decreasing cost factors. (VWC)

Oil prices in a new light

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

Fesharaki, F.

1994-05-01

For a clear picture of how oil prices develop, the author steps away from the price levels to which the world is accustomed, and evaluates scientifically. What makes prices jump from one notch to another The move results from a political or economic shock or the perception of a particular position by the futures market and the media. The shock could range from a war or an assassination to a promise of cooperation among OPEC members (when believed by the market) or to speculation about another failure at an OPEC meeting. In the oil market, only a couple of factualmore » figures can provide a floor to the price of oil. The cost of production of oil in the Gulf is around $2 to $3/bbl, and the cost of production of oil (capital and operating costs) in key non-OPEC areas is well under $10/bbl. With some adjustments for transport and quality, a price range of $13/bbl to $16/bbl would correspond to a reasonable sustainable floor price. The reason for prices above the floor price has been a continuous fear of oil supply interruptions. That fear kept prices above the floor price for many years. The fear factor has now almost fully disappeared. The market has gone through the drama of the Iranian Revolution, the Iran-Iraq war, the tanker war, the invasion of Kuwait, and the expulsions of the Iraqis. And still the oil flowed -- all the time. It has become abundantly clear that fears above the oil market were unjustified. Everyone needs to export oil, and oil will flow under the worst circumstances. The demise of the fear factor means that oil prices tend toward the floor price for a prolonged period.« less

Pricing products: juxtaposing affordability with quality appeal.

PubMed

1984-01-01

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

The influencing factors of China carbon price: a study based on carbon trading market in hubei province

NASA Astrophysics Data System (ADS)

Li, Hao; Lei, Ming

2018-02-01

For the carbon market, good trading mechanism is the basis for the healthy development of the carbon trading market. In order to explore the core problem of carbon price formation, our research explores the influencing factors of the price of carbon trading market. After the preliminary statistical analysis, our study found that Hubei Province is in the leading position among seven pilots in the carbon trading volume and the transaction, so our study of carbon price takes Hubei Province as sample of the empirical research. Multi-time series model and ARCH model analysis method are used in the research, we use the data of Hubei carbon trading pilot from June 2014 to December 2016 to carry out empirical research, the results found that industrial income, energy price, government intervention and the number of participating corporation have significant effect on the carbon price, which provides a meaningful reference for the other pilots in-depth study, as well as the construction of a national carbon trading market.

The Too-Much-Precision Effect.

PubMed

Loschelder, David D; Friese, Malte; Schaerer, Michael; Galinsky, Adam D

2016-12-01

Past research has suggested a fundamental principle of price precision: The more precise an opening price, the more it anchors counteroffers. The present research challenges this principle by demonstrating a too-much-precision effect. Five experiments (involving 1,320 experts and amateurs in real-estate, jewelry, car, and human-resources negotiations) showed that increasing the precision of an opening offer had positive linear effects for amateurs but inverted-U-shaped effects for experts. Anchor precision backfired because experts saw too much precision as reflecting a lack of competence. This negative effect held unless first movers gave rationales that boosted experts' perception of their competence. Statistical mediation and experimental moderation established the critical role of competence attributions. This research disentangles competing theoretical accounts (attribution of competence vs. scale granularity) and qualifies two putative truisms: that anchors affect experts and amateurs equally, and that more precise prices are linearly more potent anchors. The results refine current theoretical understanding of anchoring and have significant implications for everyday life.

How to sell a condom? The impact of demand creation tools on male and female condom sales in resource limited settings.

PubMed

Terris-Prestholt, Fern; Windmeijer, Frank

2016-07-01

Despite condoms being cheap and effective in preventing HIV, there remains an 8billion shortfall in condom use in risky sex-acts. Social marketing organisations apply private sector marketing approaches to sell public health products. This paper investigates the impact of marketing tools, including promotion and pricing, on demand for male and female condoms in 52 countries between 1997 and 2009. A static model differentiates drivers of demand between products, while a dynamic panel data estimator estimates their short- and long-run impacts. Products are not equally affected: female condoms are not affected by advertising, but highly affected by interpersonal communication and HIV prevalence. Price and promotion have significant short- and long-run effects, with female condoms far more sensitive to price than male condoms. The design of optimal distribution strategies for new and existing HIV prevention technologies must consider both product and target population characteristics. Copyright © 2016 The Authors. Published by Elsevier B.V. All rights reserved.

HAS INCREASED BODY WEIGHT MADE DRIVING SAFER?†

PubMed Central

DUNN, RICHARD A.; TEFFT, NATHAN W.

2014-01-01

We develop a model of alcohol consumption that incorporates the negative biological relationship between body mass and inebriation conditional on total alcohol consumption. Our model predicts that the elasticity of inebriation with respect to weight is equal to the own-price elasticity of alcohol, consistent with body mass increasing the effective price of inebriation. Given that alcohol is generally considered price inelastic, this result implies that as individuals gain weight, they consume more alcohol but become less inebriated. We test this prediction and find that driver blood alcohol content (BAC) is negatively associated with driver weight. In fatal accidents with driver BAC above 0.10, the driver was 7.8 percentage points less likely to be obese than drivers in fatal accidents that did not involve alcohol. This relationship is not explained by driver attributes (age and sex), driver behaviors (speed and seatbelt use), vehicle attributes (weight class, model year, and number of occupants), or accident context (county of accident, time of day, and day of week). PMID:24038409

Are Price Limits Effective? An Examination of an Artificial Stock Market.

PubMed

Zhang, Xiaotao; Ping, Jing; Zhu, Tao; Li, Yuelei; Xiong, Xiong

2016-01-01

We investigated the inter-day effects of price limits policies that are employed in agent-based simulations. To isolate the impact of price limits from the impact of other factors, we built an artificial stock market with higher frequency price limits hitting. The trading mechanisms in this market are the same as the trading mechanisms in China's stock market. Then, we designed a series of simulations with and without price limits policy. The results of these simulations demonstrate that both upper and lower price limits can cause a volatility spillover effect and a trading interference effect. The process of price discovery will be delayed if upper price limits are imposed on a stock market; however, this phenomenon does not occur when lower price limits are imposed.

Are Price Limits Effective? An Examination of an Artificial Stock Market

PubMed Central

Zhu, Tao; Li, Yuelei; Xiong, Xiong

2016-01-01

We investigated the inter-day effects of price limits policies that are employed in agent-based simulations. To isolate the impact of price limits from the impact of other factors, we built an artificial stock market with higher frequency price limits hitting. The trading mechanisms in this market are the same as the trading mechanisms in China’s stock market. Then, we designed a series of simulations with and without price limits policy. The results of these simulations demonstrate that both upper and lower price limits can cause a volatility spillover effect and a trading interference effect. The process of price discovery will be delayed if upper price limits are imposed on a stock market; however, this phenomenon does not occur when lower price limits are imposed. PMID:27513330

Price sensitive demand with random sales price - a newsboy problem

NASA Astrophysics Data System (ADS)

Sankar Sana, Shib

2012-03-01

Up to now, many newsboy problems have been considered in the stochastic inventory literature. Some assume that stochastic demand is independent of selling price (p) and others consider the demand as a function of stochastic shock factor and deterministic sales price. This article introduces a price-dependent demand with stochastic selling price into the classical Newsboy problem. The proposed model analyses the expected average profit for a general distribution function of p and obtains an optimal order size. Finally, the model is discussed for various appropriate distribution functions of p and illustrated with numerical examples.

Evaluation of factors affecting prescribing behaviors, in iran pharmaceutical market by econometric methods.

PubMed

Tahmasebi, Nima; Kebriaeezadeh, Abbas

2015-01-01

Prescribing behavior of physicians affected by many factors. The present study is aimed at discovering the simultaneous effects of the evaluated factors (including: price, promotion and demographic characteristics of physicians) and quantification of these effects. In order to estimate these effects, Fluvoxamine (an antidepressant drug) was selected and the model was figured out by panel data method in econometrics. We found that insurance and advertisement respectively are the most effective on increasing the frequency of prescribing, whilst negative correlation was observed between price and the frequency of prescribing a drug. Also brand type is more sensitive to negative effect of price than to generic. Furthermore, demand for a prescription drug is related with physician demographics (age and sex). According to the results of this study, pharmaceutical companies should pay more attention to the demographic characteristics of physicians (age and sex) and their advertisement and pricing strategies.

Evaluation of Factors Affecting Prescribing Behaviors, in Iran Pharmaceutical Market by Econometric Methods

PubMed Central

Tahmasebi, Nima; Kebriaeezadeh, Abbas

2015-01-01

Prescribing behavior of physicians affected by many factors. The present study is aimed at discovering the simultaneous effects of the evaluated factors (including: price, promotion and demographic characteristics of physicians) and quantification of these effects. In order to estimate these effects, Fluvoxamine (an antidepressant drug) was selected and the model was figured out by panel data method in econometrics. We found that insurance and advertisement respectively are the most effective on increasing the frequency of prescribing, whilst negative correlation was observed between price and the frequency of prescribing a drug. Also brand type is more sensitive to negative effect of price than to generic. Furthermore, demand for a prescription drug is related with physician demographics (age and sex). According to the results of this study, pharmaceutical companies should pay more attention to the demographic characteristics of physicians (age and sex) and their advertisement and pricing strategies. PMID:25901174

Costs of diarrheal disease and the cost-effectiveness of a rotavirus vaccination program in kyrgyzstan.

PubMed

Flem, Elmira T; Latipov, Renat; Nurmatov, Zuridin S; Xue, Yiting; Kasymbekova, Kaliya T; Rheingans, Richard D

2009-11-01

We examined the cost-effectiveness of a rotavirus immunization program in Kyrgyzstan, a country eligible for vaccine funding from the GAVI Alliance. We estimated the burden of rotavirus disease and its economic consequences by using national and international data. A cost-effectiveness analysis was conducted from government and societal perspectives, along with a range of 1-way sensitivity analyses. Rotavirus-related hospitalizations and outpatient visits cost US$580,864 annually, of which $421,658 (73%) is direct medical costs and $159,206 (27%) is nonmedical and indirect costs. With 95% coverage, vaccination could prevent 75% of rotavirus-related hospitalizations and deaths and 56% of outpatient visits and could avert $386,193 (66%) in total costs annually. The medical break-even price at which averted direct medical costs equal vaccination costs is $0.65/dose; the societal break-even price is $1.14/dose for a 2-dose regimen. At the current GAVI Alliance-subsidized vaccine price of $0.60/course, rotavirus vaccination is cost-saving for the government. Vaccination is cost-effective at a vaccine price $9.41/dose, according to the cost-effectiveness standard set by the 2002 World Health Report. Addition of rotavirus vaccines to childhood immunization in Kyrgyzstan could substantially reduce disease burden and associated costs. Vaccination would be cost-effective from the national perspective at a vaccine price $9.41 per dose.

Comparing gender discrimination and inequality in indie and traditional publishing.

PubMed

Weinberg, Dana B; Kapelner, Adam

2018-01-01

In traditional publishing, female authors' titles command nearly half (45%) the price of male authors' and are underrepresented in more prestigious genres, and books are published by publishing houses, which determined whose books get published, subject classification, and retail price. In the last decade, the growth of digital technologies and sales platforms have enabled unprecedented numbers of authors to bypass publishers to publish and sell books. The rise of indie publishing (aka self-publishing) reflects the growth of the "gig" economy, where the influence of firms has diminished and workers are exposed more directly to external markets. Encompassing the traditional and the gig economy, the book industry illuminates how the gig economy may disrupt, replicate, or transform the gender discrimination mechanisms and inequality found in the traditional economy. In a natural experiment spanning from 2002 to 2012 and including over two million book titles, we compare discrimination mechanisms and inequality in indie and traditional publishing. We find that indie publishing, though more egalitarian, largely replicates traditional publishing's gender discrimination patterns, showing an unequal distribution of male and female authors by genre (allocative discrimination), devaluation of genres written predominantly by female authors (valuative discrimination), and lower prices within genres for books by female authors (within-job discrimination). However, these discrimination mechanisms are associated with far less price inequality in indie, only 7%, in large part due to the smaller and lower range of prices in indie publishing compared to traditional publishing. We conclude that, with greater freedom, workers in the gig economy may be inclined to greater equality but will largely replicate existing labor market segmentation and the lower valuation of female-typical work and of female workers. Nonetheless, price setting for work may be more similar for workers in the gig economy due to market competition that will compress prices ranges.

What drives petroleum product prices

EIA Publications

2017-01-01

This new section discusses the various factors that influence the prices of gasoline and distillate fuel oil—the two most-consumed petroleum products in the United States. Charts detailing prices, consumption, production, inventories, and trade for both petroleum products will be updated each month in the Short-Term Energy Outlook.

The Insulation Board Industry - An Economic Analysis

Treesearch

Albert T. Schuler

1978-01-01

An econometric model of the domestic insulation board industry was developed to identify and quantify the major factors affecting quantity consumed and price. The factors identified were housing starts, residential improvement activity, disposable personal income, productivity, pulpwood and residue prices, and power costs. Disposable personal income was the most...

Outpatient Provider Concentration and Commercial Colonoscopy Prices

PubMed Central

Pozen, Alexis

2015-01-01

The objective was to evaluate the magnitude of various contributors to outpatient commercial colonoscopy prices, including market- and provider-level factors, especially market share. We used adjudicated fee-for-service facility claims from a large commercial insurer for colonoscopies occurring in hospital outpatient department or ambulatory surgery center from October 2005 to December 2012. Claims were matched to provider- and market-level data. Linear fixed effects regressions of negotiated colonoscopy price were run on provider, system, and market characteristics. Markets were defined as counties. There were 178 433 claims from 169 providers (104 systems). The mean system market share was 76% (SD = 0.34) and the mean real (deflated) price was US$1363 (SD = 374), ranging from US$169 to US$2748. For every percentage point increase in a system or individual facility’s bed share, relative price increased by 2 to 4 percentage points; this result was stable across a number of specifications. Market population and price were also consistently positively related, though this relation was small in magnitude. No other factor explained price as strongly as market share. Price variation for colonoscopy was driven primarily by market share, of particular concern as the number of mergers increases in wake of the recession and the Affordable Care Act. Whether variation is justified by better quality care requires further research to determine whether quality is subsumed in prices. PMID:25870183

The effects of the vegetable prices insurance on the fluctuation of price: Based on Shanghai evidences

NASA Astrophysics Data System (ADS)

Qu, Chunhong; Li, Huishang; Hao, Shuai; Zhang, Xuebiao; Yang, Wei

2017-10-01

Taking Shanghai as an example, the influence of the vegetable price insurance on the fluctuation of prices was analyzed in the article. It was found that the sequence of seasonal fluctuations characteristics of leafy vegetable prices was changed by the vegetable cost-price insurance, the period of price fluctuation was elongated from 12-to-18 months to 37 months, and the influence of random factors on the price fluctuations was reduced in some degree. There was still great space for innovation of the vegetable prices insurance system in Shanghai. Some countermeasures would be suggested to develop the insurance system to better to play the role of insurance and promote the market running more smoothly in Shanghai such as prolonging the insurance cycle, improving the price information monitoring mechanism and innovating income insurance products and so on.

Enterprise systems in financial sector - an application in precious metal trading forecasting

NASA Astrophysics Data System (ADS)

Chen, Xiaozhu; Fang, Yiwei

2013-11-01

The use of enterprise systems has become increasingly popular in the financial service industry. This paper discusses the applications of enterprise systems in the financial sectors and presents an application in gold price forecasting. We carefully examine the impacts of a few most widely assumed factors that have significant impact on the long-term gold price using statistical regression techniques. The analysis on our proposed linear regression mode indicates that the United States ultra scale of M2 money supply has been the most important catalyst for the rising price of gold, and the CRB index upward trend has also been the weighty factor for pushing up the gold price. In addition, the gold price has a low negative correlation with the Dow Jones Industrial Average, and low positive correlations with the US dollar index and the gold ETFs holdings.

Effects of scarcity, aesthetics and ecology on wildlife auction prices of large African mammals.

PubMed

Dalerum, Fredrik; Miranda, María; Muñiz, Cristina; Rodríguez, Plácido

2018-02-01

For successful integration of biological conservation into economic markets, economic processes need to capture ecological values. South African wildlife ranching is a tourist-based activity that generates unique information on the economic value of wildlife species. We used public data from South African wildlife auctions to evaluate if annual prices 1991-2012 related to species characteristics associated with scarcity, aesthetics and ecology of South African carnivores and ungulates. While none of the species characteristics influenced carnivore prices, ungulate prices were related to characteristics associated with novelty and aesthetics, which relative importance had increased over time. We raise both ecological and economic concerns for this apparent focus. Our results also suggest a potential importance of non-species-related factors, such as market and buyer characteristics. We encourage further evaluation of the relative influences of species characteristics versus factors that are intrinsically linked to economic processes on price variations in South African wildlife.

48 CFR 17.207 - Exercise of options.

Code of Federal Regulations, 2010 CFR

2010-10-01

... period specified in the contract. (b) When the contract provides for economic price adjustment and the... consideration such factors as market stability and comparison of the time since award with the usual duration of... that is subject to an economic price adjustment provision; or (5) A specific price that is subject to...

42 CFR § 510.300 - Determination of episode target prices.

Code of Federal Regulations, 2010 CFR

2016-10-01

... SERVICES (CONTINUED) HEALTH CARE INFRASTRUCTURE AND MODEL PROGRAMS COMPREHENSIVE CARE FOR JOINT REPLACEMENT MODEL Pricing and Payment § 510.300 Determination of episode target prices. (a) General. CMS establishes... expenditures from the CJR model as described in this section. (1) Discount factor for reconciliation payments...

Institutional Variation in Enrollment of Low-Income Students

ERIC Educational Resources Information Center

Monks, James

2018-01-01

Socioeconomic diversity in tertiary education has come under heightened scrutiny in the past few years. This paper estimates the relationship between prices (both sticker price and net price), financial aid policies, and selectivity on the variation of low-income students across postsecondary institutions. All three factors are significant in…

48 CFR 1352.215-74 - Best value evaluation.

Code of Federal Regulations, 2010 CFR

2010-10-01

... integrated assessment of price/cost and non-price evaluation factors, to provide the best value to the... ensure that their initial proposal constitutes their best offer in terms of both price and the technical... at which an efficient competition can be conducted, the Contracting Officer may limit the number of...

Effect of market factors on the short-time pricing of stock-exchange metals

NASA Astrophysics Data System (ADS)

Bogdanov, S. V.; Shevelev, I. M.; Chernyi, S. A.

2016-12-01

The open trade on the world market is estimated using information of one-day exchange prices of nonferrous and precious metals, oil, reduced crude, and gasoline and the main world stock indices in the time period from January 1, 2009 to December 31, 2015. It is found that the short-term changes in the prices of nonferrous metals are determined by the prices on the metal market. The changes in the prices of energy carriers and the stock trade on the stock market weakly influence the pricing of nonferrous and precious metals. The prices of metals depend on the situation during trade on commodity exchanges, and the stock market indirectly influences the exchange prices of metals through changes in the share prices of the companies that produce copper, aluminum, and zinc.

Making the purchase decision: factors other than price.

PubMed

Lyons, D M

1992-05-01

Taking price out of the limelight and concentrating on customer relations, mutual respect, and build-in/buy-in; involving the user; developing communication and evaluation processes; and being process oriented to attain the results needed require commitment on the part of administration and materiel management. There must be a commitment of time to develop the process, commitment of resources to work through the process, and a commitment of support to enhance the process. With those three parameters in place, price will no longer be the only factor in the purchasing decision.

The cost of energy from utility-owned solar electric systems. A required revenue methodology for ERDA/EPRI evaluations

NASA Technical Reports Server (NTRS)

1976-01-01

This methodology calculates the electric energy busbar cost from a utility-owned solar electric system. This approach is applicable to both publicly- and privately-owned utilities. Busbar cost represents the minimum price per unit of energy consistent with producing system-resultant revenues equal to the sum of system-resultant costs. This equality is expressed in present value terms, where the discount rate used reflects the rate of return required on invested capital. Major input variables describe the output capabilities and capital cost of the energy system, the cash flows required for system operation amd maintenance, and the financial structure and tax environment of the utility.

Benefit assessment in Germany: implications for price discounts.

PubMed

Theidel, Ulrike; von der Schulenburg, J-Matthias Graf

2016-12-01

The AMNOG regulation, introduced in 2011 in Germany, changed the game for new drugs. Now, the industry is required to submit a dossier to the GBA (the central decision body in the German sickness fund system) to show additional benefit. After granting the magnitude of the additional benefit by the GBA, the manufacturer is entitled to negotiate the reimbursement price with the GKV-SV (National Association of Statutory Health Insurance Funds). The reimbursement price is defined as a discount on the drug price at launch. As the price or discount negotiations between the manufacturers and the GKV-SV takes place behind closed doors, the factors influencing the results of the negotiation are not known. The aim of this evaluation is to identify factors influencing the results of the AMNOG price negotiation process. The analysis was based on a dataset containing detailed information on all assessments until the end of 2015. A descriptive analysis was followed by an econometric analysis of various potential factors (benefit rating, size of target population, deviating from appropriate comparative therapy and incorporation of HRQoL-data). Until December 2015, manufacturers and the GKV-SV finalized 96 negotiations in 193 therapeutic areas, based on assessment conducted by the GBA. The GBA has granted an additional benefit to 100/193 drug innovations. Negotiated discount was significantly higher for those drugs without additional benefit (p = 0.030) and non-orphan drugs (p = 0.015). Smaller population size, no deviation from recommended appropriate comparative therapy and the incorporation of HRQoL-data were associated with a lower discount on the price at launch. However, neither a uni- nor the multivariate linear regression showed enough power to predict the final discount. Although the AMNOG regulation implemented binding and strict rules for the benefit assessment itself, the outcome of the discount negotiations are still unpredictable. Obviously, negotiation tactics, the current political situation and soft factors seem to play a more influential role for the outcome of the negotiations than the five hard and known factors analyzed in this study. Further research is needed to evaluate additional factors.

Cooperative Emissions Trading Game: International Permit Market Dominated by Buyers.

PubMed

Honjo, Keita

2015-01-01

Rapid reduction of anthropogenic greenhouse gas emissions is required to mitigate disastrous impacts of climate change. The Kyoto Protocol introduced international emissions trading (IET) to accelerate the reduction of carbon dioxide (CO2) emissions. The IET controls CO2 emissions through the allocation of marketable emission permits to sovereign countries. The costs for acquiring additional permits provide buyers with an incentive to reduce their CO2 emissions. However, permit price has declined to a low level during the first commitment period (CP1). The downward trend in permit price is attributed to deficiencies of the Kyoto Protocol: weak compliance enforcement, the generous allocation of permits to transition economies (hot air), and the withdrawal of the US. These deficiencies created a buyer's market dominated by price-making buyers. In this paper, I develop a coalitional game of the IET, and demonstrate that permit buyers have dominant bargaining power. In my model, called cooperative emissions trading (CET) game, a buyer purchases permits from sellers only if the buyer forms a coalition with the sellers. Permit price is determined by bargaining among the coalition members. I evaluated the demand-side and supply-side bargaining power (DBP and SBP) using Shapley value, and obtained the following results: (1) Permit price is given by the product of the buyer's willingness-to-pay and the SBP (= 1 - DBP). (2) The DBP is greater than or equal to the SBP. These results indicate that buyers can suppress permit price to low levels through bargaining. The deficiencies of the Kyoto Protocol enhance the DBP, and contribute to the demand-side dominance in the international permit market.

Root Cause Analyses of Nunn-McCurdy Breaches, Volume 1: Zumwalt-Class Destroyer, Joint Strike Fighter, Longbow Apache and Wideband Global Satellite

DTIC Science & Technology

2011-01-01

E) in March 2012.4 This would amount to a concurrency of about 25 percent for the JSF.5 Con- currency for the F-22, an equally challenging technology...overall price deflator by OSD to convert constant into current dollars. 6 The xenon ion propulsion system, certain transponders, and a crypto box

The Utility of a Discount Methodology for Implementing Congressional Intent Regarding Section 254 of the Telecommunications Act of 1996: Preliminary Findings and Executive Summary.

ERIC Educational Resources Information Center

Missouri Univ., Columbia. Rural Policy Research Inst.

The goal of Section 254 of the Telecommunications Act of 1996 is the "equality of affordable, comparably priced access to telecommunication services by schools, libraries, and hospitals regardless of geographic location." The purposes of this study were to provide decision support information to the Joint Board and Federal Communications…

77 FR 66902 - Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of...

Federal Register 2010, 2011, 2012, 2013, 2014

2012-11-07

... Securities Exchange Act of 1934 (the ``Act'') \\2\\ and Rule 19b-4 thereunder,\\3\\ notice is hereby given that... least 1,000 contracts, is part of a QCT, and is executed at a price at least equal to the national best... per contract than they would pay if the trade were executed as a non-QCC trade. Currently...

78 FR 60937 - Joint Industry Plan; Order Approving the Fifth Amendment to the National Market System Plan to...

Federal Register 2010, 2011, 2012, 2013, 2014

2013-10-02

... immediately enter a Limit State if the National Best Offer equals the Lower Limit Band and does not cross the... from occurring outside of the specified price bands.\\6\\ These limit up-limit down requirements would be... moves (as opposed to erroneous trades or momentary gaps in liquidity). \\5\\ 17 CFR 242.600(b)(47). See...

17 CFR 43.4 - Swap transaction and pricing data to be publicly disseminated in real-time.

Code of Federal Regulations, 2014 CFR

2014-04-01

... the nearest one million; (6) If the notional or principal amount is less than 500 million but equal to... greater than zero up to and including two years; (B) USD 100 million for swaps with a tenor greater than two years up to and including ten years; and (C) USD 75 million for swaps with a tenor greater than...

77 FR 51073 - Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of Filing of Proposed Rule Change To...

Federal Register 2010, 2011, 2012, 2013, 2014

2012-08-23

... liquidity in a transparent market environment. As among equally priced orders on the PSX book, PSX allocates... against the PSX book.\\3\\ No information about the receipt of an incoming marketable order will be provided... unexecuted shares will be cancelled back to the member, routed, or posted to the book as applicable. As is...

Sociological Factors Affecting Agricultural Price Risk Management in Australia

ERIC Educational Resources Information Center

Jackson, Elizabeth; Quaddus, Mohammed; Islam, Nazrul; Stanton, John

2009-01-01

The highly volatile auction system in Australia accounts for 85 percent of ex-farm wool sales, with the remainder sold by forward contract, futures, and other hedging methods. In this article, against the background of an extensive literature on price risk strategies, we investigate the behavioral factors associated with producers' adoption of…

Implications of external price referencing of pharmaceuticals in Middle East countries.

PubMed

Kaló, Zoltán; Alabbadi, Ibrahim; Al Ahdab, Ola Ghaleb; Alowayesh, Maryam; Elmahdawy, Mahmoud; Al-Saggabi, Abdulaziz H; Tanzi, Vito Luigi; Al-Badriyeh, Daoud; Alsultan, Hamad S; Ali, Faleh Mohamed Hussain; Elsisi, Gihan H; Akhras, Kasem S; Vokó, Zoltán; Kanavos, Panos

2015-01-01

External price referencing (EPR) is applied frequently to control pharmaceutical prices. Our objective was to analyse how EPR is used in Middle Eastern (ME) countries and to compare the price corridor for original pharmaceuticals to non-pharmaceutical services not subjected to EPR. We conducted a survey on EPR regulations and collected prices of 16 patented pharmaceuticals and 14 non-pharmaceutical services in seven Middle Eastern (ME) countries. Maximum and minimum prices of each pharmaceutical and non-pharmaceutical technology were compared to mean prices in the countries studied by using market exchange rates. Influencing factors of pharmaceutical prices were assessed by multivariate linear regression analysis. The average price corridor is narrower for pharmaceuticals (-39.8%; +35.9%) than for outpatient and hospital services (-81.7%; +96.3%). Our analysis revealed the importance of population size and EPR implementation on drug price levels; however, EPR results in higher pharmaceutical prices in lower-income countries compared to non-pharmaceutical services.

Specialty service contracting.

PubMed

Malcolm, C L; Fukui, M

1993-01-01

Package pricing of specific services and procedures can be an effective cost-containment and marketing tool for payers and providers. Payers can secure fixed prices at discounted rates, and hospitals and physicians can retain and gain market share in an increasingly competitive health care market. Successful implementation of a package pricing strategy, however, requires a careful assessment of both market and operational factors. This chapter outlines how to identify opportunities for package pricing and how to establish rates and procedures.

Effects of income on drug choice in humans.

PubMed Central

DeGrandpre, R J; Bickel, W K; Rizvi, S A; Hughes, J R

1993-01-01

The effects of income (money available to spend during the experimental session) on human choice were examined in a concurrent-schedule arrangement. Subjects were 7 nicotine-dependent smokers, and reinforcers were puffs on the subject's usual brand of cigarette ("own") and puffs on a less preferred brand of cigarette with equal nicotine content ("other"). Across sessions, income varied and the price of the two reinforcers was held constant, with the other puffs one fifth the price of the own puffs. As income increased, consumption of own puffs increased while consumption of the less expensive other puffs decreased. These effects of income on choice were highly consistent across subjects. For some subjects, however, income had little effect on total puff consumption. Finally, an additional condition examined whether price and income manipulations would have functionally equivalent effects on choice by repeating an income condition in which the price of the other brand was increased. Although the increased price of the other puffs decreased their consumption in 4 subjects, 2 subjects showed increased consumption of the other puffs at the higher price. The results, when defined in economic terms, indicate that the own puffs were a normal good (consumption and income are directly related), the other puffs were an inferior good (consumption and income are inversely related), and the direct relationship between consumption of the other puffs and their price is defined as a Giffengood effect. The latter result also suggests that for these 2 subjects, price and income manipulations had equivalent effects on choice. These results extend findings from previous studies that have examined the effects of income on choice responding to human subjects and drug reinforcers, and provide a framework for further experimental tests of the effects of income on human choice behavior. Methodological and theoretical implications for the study of choice and for behavioral pharmacology are discussed. PMID:8315366

Patient Awareness of Local Drug Price Variation and the Factors That Influence Pharmacy Choice: A Cross-sectional Survey Study

PubMed

Brodsky, Spencer D; Awosika, Olabola D; Eleryan, Misty G; Rengifo-Pardo, Monica; Kuang, Xiangyu; Amdur, Richard L; Ehrlich, Alison

2017-12-01

BACKGROUND: High out-of-pocket drug expenditures are increasingly common in dermatology. Patients may not be aware that prices vary among pharmacies and consequently may not shop for the lowest cost. OBJECTIVE: To determine what factors influence pharmacy choice and the effect of providing local prescription prices on pharmacy selection. We hypothesized that patients do not "shop around" due to lack of knowledge of price variation and would choose a pharmacy based on costs if educated on price disparity. METHODS: Between July and August 2016, we administered a cross-sectional anonymous survey to adults visiting four outpatient clinics at an academic tertiary care center in Washington, D.C. Participants answered questions before and after viewing a list of prescription drug prices from local pharmacies. RESULTS: 287 surveys were administered to a convenience sample of adults (age ≥ 18 and literate in English). Of the 287 participants, 218 fully completed the survey; 55.1% were women and 40.5% were over age 40. When considering a cost savings of $10-25, 65% would switch pharmacies if the distance were the same, and 21.3% would switch if the distance were 45-minutes further. After price education, fewer participants felt that drug price knowledge would ultimately influence pharmacy choice (P less than 0.0001). However, respondents' intended frequency of researching price online, calling a pharmacy to ask about price, and comparing price between pharmacies before filling a prescription all increased, compared to prior self-reported frequencies (P less than 0.001). Specifically, participants with $75,000-$99,999 income were more likely to compare prices than those with income below $45,000 (odds ratio [OR], 4.62; 95% confidence interval [CI], 1.24-17.28). CONCLUSION: In this study, pharmacy choice was more influenced by convenience than cost prior to drug price education. However, price education ultimately impacted intent to research prescription drug prices before selecting a pharmacy. Thus, knowledge of drug pricing may be useful in creating cost savings for patients.

78 FR 56911 - Notice of Certain Operating Cost Adjustment Factors for 2014

Federal Register 2010, 2011, 2012, 2013, 2014

2013-09-16

... Bureau of Labor Statistics (BLS) Consumer Price Index, All Items Less Food, Energy and Shelter (Series ID.../february2013.pdf . Natural Gas: Energy Information Agency, Natural Gas, Residential Energy Price, 2011-2012.... The best current price data sources for the nine cost categories were used in calculating annual...

The Cost and Price Dilemma of Scholarly Journals.

ERIC Educational Resources Information Center

King, Donald W.; Tenopir, Carol

2000-01-01

Examines overall costs of the scientific scholarly journal system and finds that relative system costs have not increased since the late 1970s. Describes scholarly publishing costs; factors that have contributed to spiraling price increases and changes in journal subscription demand; and alternative pricing policies that might help in the future.…

An econometric model of the hardwood lumber market

Treesearch

William G. Luppold

1982-01-01

A recursive econometric model with causal flow originating from the demand relationship is used to analyze the effects of exogenous variables on quantity and price of hardwood lumber. Wage rates, interest rates, stumpage price, lumber exports, and price of lumber demanders' output were the major factors influencing quantities demanded and supplied and hardwood...

Fast Food Consumption and Food Prices: Evidence from Panel Data on 5th and 8th Grade Children

PubMed Central

Khan, Tamkeen; Powell, Lisa M.; Wada, Roy

2012-01-01

Fast food consumption is a dietary factor associated with higher prevalence of childhood obesity in the United States. The association between food prices and consumption of fast food among 5th and 8th graders was examined using individual-level random effects models utilizing consumption data from the Early Childhood Longitudinal Study, Kindergarten Class of 1998-99 (ECLS-K), price data from American Chamber of Commerce Researchers Association (ACCRA), and contextual outlet density data from Dun and Bradstreet (D&B). The results found that contextual factors including the price of fast food, median household income, and fast food restaurant outlet densities were significantly associated with fast food consumption patterns among this age group. Overall, a 10% increase in the price of fast food was associated with 5.7% lower frequency of weekly fast food consumption. These results suggest that public health policy pricing instruments such as taxes may be effective in reducing consumption of energy-dense foods and possibly reducing the prevalence of overweight and obesity among US children and young adolescents. PMID:22292115

Cost-effectiveness and Pricing of Antibacterial Drugs

PubMed Central

Verhoef, Talitha I; Morris, Stephen

2015-01-01

Growing resistance to antibacterial agents has increased the need for the development of new drugs to treat bacterial infections. Given increasing pressure on limited health budgets, it is important to study the cost-effectiveness of these drugs, as well as their safety and efficacy, to find out whether or not they provide value for money and should be reimbursed. In this article, we systematically reviewed 38 cost-effectiveness analyses of new antibacterial agents. Most studies showed the new antibacterial drugs were cost-effective compared to older generation drugs. Drug pricing is a complicated process, involving different stakeholders, and has a large influence on cost-effectiveness. Value-based pricing is a method to determine the price of a drug at which it can be cost-effective. It is currently unclear what the influence of value-based pricing will be on the prices of new antibacterial agents, but an important factor will be the definition of ‘value’, which as well as the impact of the drug on patient health might also include other factors such as wider social impact and the health impact of disease. PMID:25521641

Fast food consumption and food prices: evidence from panel data on 5th and 8th grade children.

PubMed

Khan, Tamkeen; Powell, Lisa M; Wada, Roy

2012-01-01

Fast food consumption is a dietary factor associated with higher prevalence of childhood obesity in the United States. The association between food prices and consumption of fast food among 5th and 8th graders was examined using individual-level random effects models utilizing consumption data from the Early Childhood Longitudinal Study, Kindergarten Class of 1998-99 (ECLS-K), price data from American Chamber of Commerce Researchers Association (ACCRA), and contextual outlet density data from Dun and Bradstreet (D&B). The results found that contextual factors including the price of fast food, median household income, and fast food restaurant outlet densities were significantly associated with fast food consumption patterns among this age group. Overall, a 10% increase in the price of fast food was associated with 5.7% lower frequency of weekly fast food consumption. These results suggest that public health policy pricing instruments such as taxes may be effective in reducing consumption of energy-dense foods and possibly reducing the prevalence of overweight and obesity among US children and young adolescents.

Analyzing the Stability of Price Response Functions: Measuring the Influence of Different Parameters in a Monte Carlo Comparison

NASA Astrophysics Data System (ADS)

Brusch, Michael; Baier, Daniel

The usage and the estimation of price response function is very important for strategic marketing decisions. Typically price response functions with an empirical basis are used. However, such price response functions are subject to a lot of disturbing influence factors, e.g., the assumed profit maximum price and the assumed corresponding quantity of sales. In such cases, the question how stable the found price response function is was not answered sufficiently up to now. In this paper, the question will be pursued how much (and what kind of) errors in market research are pardonable for a stable price response function. For the comparisons, a factorial design with synthetically generated and disturbed data is used.

Norwegian physicians' knowledge of the prices of pharmaceuticals: a survey.

PubMed

Eriksen, Ida Iren; Melberg, Hans Olav; Bringedal, Berit

2013-01-01

The objectives of this study are to measure physicians' knowledge of the prices of pharmaceuticals, and investigate whether there are differences in knowledge of prices between groups of physicians. This article reports on a survey study of physicians' knowledge of the prices of pharmaceuticals conducted on a representative sample of Norwegian physicians in the autumn of 2010. The importance of physicians' knowledge of costs derives from their influence on total spending and allocation of limited health-care resources. Physicians are important drivers in the effort to contain costs in health care, but only if they have the knowledge needed to choose the most cost-effective treatment options. A survey was sent to 1543 Norwegian physicians, asking them for price estimates and their opinions on the importance of considering the cost of treatment to society as a decision factor when treating their patients. This article deals with a subsection in which the physicians were asked to estimate the price of five pharmaceuticals: simvastatin, alendronate (Fosamax), infliximab (Remicade), natalizumab (Tysabri) and escitalopram (Cipralex). The response rate was 65%. For all the five pharmaceuticals, more than 50% and as many as 83% gave responses that differed more than 50% from the actual drug price. The price of more expensive pharmaceuticals was underestimated, while the opposite was the case for less expensive medicines. The data show that physicians in general have poor knowledge of the prices of the pharmaceuticals they offer their patients. However, the physicians who frequently deal with a drug have better knowledge of its price than those who do not handle a medication as often. The data also suggest that those physicians who agree that cost of care to society is an important decision factor have better knowledge of drug prices.

Norwegian Physicians’ Knowledge of the Prices of Pharmaceuticals: A Survey

PubMed Central

Eriksen, Ida Iren; Melberg, Hans Olav; Bringedal, Berit

2013-01-01

The objectives of this study are to measure physicians’ knowledge of the prices of pharmaceuticals, and investigate whether there are differences in knowledge of prices between groups of physicians. This article reports on a survey study of physicians’ knowledge of the prices of pharmaceuticals conducted on a representative sample of Norwegian physicians in the autumn of 2010. The importance of physicians’ knowledge of costs derives from their influence on total spending and allocation of limited health-care resources. Physicians are important drivers in the effort to contain costs in health care, but only if they have the knowledge needed to choose the most cost-effective treatment options. A survey was sent to 1 543 Norwegian physicians, asking them for price estimates and their opinions on the importance of considering the cost of treatment to society as a decision factor when treating their patients. This article deals with a subsection in which the physicians were asked to estimate the price of five pharmaceuticals: simvastatin, alendronate (Fosamax), infliximab (Remicade), natalizumab (Tysabri) and escitalopram (Cipralex). The response rate was 65%. For all the five pharmaceuticals, more than 50% and as many as 83% gave responses that differed more than 50% from the actual drug price. The price of more expensive pharmaceuticals was underestimated, while the opposite was the case for less expensive medicines. The data show that physicians in general have poor knowledge of the prices of the pharmaceuticals they offer their patients. However, the physicians who frequently deal with a drug have better knowledge of its price than those who do not handle a medication as often. The data also suggest that those physicians who agree that cost of care to society is an important decision factor have better knowledge of drug prices. PMID:24040402

Tuberculosis drug issues: prices, fixed-dose combination products and second-line drugs.

PubMed

Laing, R O; McGoldrick, K M

2000-12-01

Access to tuberculosis drugs depends on multiple factors. Selection of a standard list of TB drugs to procure is the first step. This paper reviews the advantages and disadvantages of procuring and using fixed-dose combination (FDC) products for both the intensive and continuation phases of treatment. The major advantages are to prevent the emergence of resistance, to simplify logistic management and to reduce costs. The major disadvantage is the need for the manufacturers to assure the quality of these FDCs by bioavailability testing. The paper reports on the inclusion of second-line TB drugs in the 1999 WHO Essential Drug List (EDL). The need to ensure that these drugs are used within established DOTS-Plus programs is stressed. The price of TB drugs is determined by many factors, including producer prices, local taxes and duties as well as mark-ups and fees. TB drug prices for both the public and private sectors from industrialized and developing countries are reported. Price trends over time are also reported. The key findings of this study are that TB drug prices have generally declined in developing countries while they have increased in developed countries, both for the public and private sectors. Prices vary between countries, with the US paying as much as 95 times the price paid in a specific developing country. The prices of public sector first-line TB drugs vary little between countries, although differences do exist due to the procurement methods used. The price of tuberculin, a diagnostic agent, has increased dramatically in the US, with substantial inter-country variations in price. The paper suggests that further research is necessary to identify the reasons for the price disparities and changes over time, and suggests methods which can be used by National Tuberculosis Programme managers to ensure availability of quality assured TB drugs at low prices.

[Preliminary influence of 2015 cigarette excise tax up-regulation on cigarette retail price].

PubMed

Feng, G Z; Wang, C X; Yang, J Q; Jiang, Y

2016-10-10

Objective: To evaluate the impact of cigarette excise tax up-regulation on the retail price of cigarettes in 2015. Methods: Nominal and real price of selected cigarette varieties were calculated with data from Tobacco Retail Price Monitoring Project, which was conducted in 10 cities of China from 2013 to 2015. The trend of the cigarette prices changing was analyzed with annual data. Results: A total of 352 varieties of cigarettes were surveyed during the three years. The nominal price of these cigarettes did not change significantly from 2013 to 2014. Compared with nominal price of 2014, the price of 286 varieties increased and the price of 10 most popular varieties increased from 0.6 % to 7.4 % after cigarette excise tax increased, but the actual prices had both rise and fall compared with 2013. Conclusions: Cigarette excise tax raise in 2015 had influence on the retail price of cigarettes. But the increase in retail price was very limited, if factors including inflation and purchasing power are taken into consideration. Therefore, the influence of 2015 cigarette excise tax raise on tobacco control needs further evaluation.

From entropy-maximization to equality-maximization: Gauss, Laplace, Pareto, and Subbotin

NASA Astrophysics Data System (ADS)

Eliazar, Iddo

2014-12-01

The entropy-maximization paradigm of statistical physics is well known to generate the omnipresent Gauss law. In this paper we establish an analogous socioeconomic model which maximizes social equality, rather than physical disorder, in the context of the distributions of income and wealth in human societies. We show that-on a logarithmic scale-the Laplace law is the socioeconomic equality-maximizing counterpart of the physical entropy-maximizing Gauss law, and that this law manifests an optimized balance between two opposing forces: (i) the rich and powerful, striving to amass ever more wealth, and thus to increase social inequality; and (ii) the masses, struggling to form more egalitarian societies, and thus to increase social equality. Our results lead from log-Gauss statistics to log-Laplace statistics, yield Paretian power-law tails of income and wealth distributions, and show how the emergence of a middle-class depends on the underlying levels of socioeconomic inequality and variability. Also, in the context of asset-prices with Laplace-distributed returns, our results imply that financial markets generate an optimized balance between risk and predictability.

State energy price and expenditure report 1993

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

NONE

1995-12-01

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

Multiple Linear Regression Analysis of Factors Affecting Real Property Price Index From Case Study Research In Istanbul/Turkey

NASA Astrophysics Data System (ADS)

Denli, H. H.; Koc, Z.

2015-12-01

Estimation of real properties depending on standards is difficult to apply in time and location. Regression analysis construct mathematical models which describe or explain relationships that may exist between variables. The problem of identifying price differences of properties to obtain a price index can be converted into a regression problem, and standard techniques of regression analysis can be used to estimate the index. Considering regression analysis for real estate valuation, which are presented in real marketing process with its current characteristics and quantifiers, the method will help us to find the effective factors or variables in the formation of the value. In this study, prices of housing for sale in Zeytinburnu, a district in Istanbul, are associated with its characteristics to find a price index, based on information received from a real estate web page. The associated variables used for the analysis are age, size in m2, number of floors having the house, floor number of the estate and number of rooms. The price of the estate represents the dependent variable, whereas the rest are independent variables. Prices from 60 real estates have been used for the analysis. Same price valued locations have been found and plotted on the map and equivalence curves have been drawn identifying the same valued zones as lines.

Sensitivity of natural gas deployment in the US power sector to future carbon policy expectations

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

Mignone, Bryan K.; Showalter, Sharon; Wood, Frances

One option for reducing carbon emissions in the power sector is replacement of coal-fired generation with less carbon-intensive natural gas combined cycle (NGCC) generation. In the United States, where there is abundant, low-cost natural gas supply, increased NGCC deployment could be a cost-effective emissions abatement opportunity at relatively modest carbon prices. However, under scenarios in which carbon prices rise and deeper emissions reductions are achieved, other technologies may be more cost-effective than NGCC in the future. In this analysis, using a US energy system model with foresight (a version of the National Energy Modeling System or 'NEMS' model), we findmore » that varying expectations about carbon prices after 2030 does not materially affect NGCC deployment prior to 2030, all else equal. An important implication of this result is that, under the set of natural gas and carbon price trajectories explored here, myopic behavior or other imperfect expectations about potential future carbon policy do not change the natural gas deployment path or lead to stranded natural gas generation infrastructure. We explain these results in terms of the underlying economic competition between available generation technologies and discuss the broader relevance to US climate change mitigation policy.« less

Sensitivity of natural gas deployment in the US power sector to future carbon policy expectations

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

Mignone, Bryan K.; Showalter, Sharon; Wood, Frances

One option for reducing carbon emissions in the power sector is replacement of coal-fired generation with less carbon-intensive natural gas combined cycle (NGCC) generation. In the United States, where there is abundant, low-cost natural gas supply, increased NGCC deployment could be a cost-effective emissions abatement opportunity at relatively modest carbon prices. However, under scenarios in which carbon prices rise and deeper emissions reductions are achieved, other technologies may be more cost-effective than NGCC in the future. In this analysis, using a US energy system model with foresight (a version of the National Energy Modeling System or “NEMS” model), we findmore » that varying expectations about carbon prices after 2030 does not materially affect NGCC deployment prior to 2030, all else equal. An important implication of this result is that, under the set of natural gas and carbon price trajectories explored here, myopic behavior or other imperfect expectations about potential future carbon policy do not change the natural gas deployment path or lead to stranded natural gas generation infrastructure. Lastly, we explain these results in terms of the underlying economic competition between available generation technologies and discuss the broader relevance to US climate change mitigation policy.« less

Sensitivity of natural gas deployment in the US power sector to future carbon policy expectations

DOE PAGES

Mignone, Bryan K.; Showalter, Sharon; Wood, Frances; ...

2017-11-01

One option for reducing carbon emissions in the power sector is replacement of coal-fired generation with less carbon-intensive natural gas combined cycle (NGCC) generation. In the United States, where there is abundant, low-cost natural gas supply, increased NGCC deployment could be a cost-effective emissions abatement opportunity at relatively modest carbon prices. However, under scenarios in which carbon prices rise and deeper emissions reductions are achieved, other technologies may be more cost-effective than NGCC in the future. In this analysis, using a US energy system model with foresight (a version of the National Energy Modeling System or 'NEMS' model), we findmore » that varying expectations about carbon prices after 2030 does not materially affect NGCC deployment prior to 2030, all else equal. An important implication of this result is that, under the set of natural gas and carbon price trajectories explored here, myopic behavior or other imperfect expectations about potential future carbon policy do not change the natural gas deployment path or lead to stranded natural gas generation infrastructure. We explain these results in terms of the underlying economic competition between available generation technologies and discuss the broader relevance to US climate change mitigation policy.« less

Sensitivity of natural gas deployment in the US power sector to future carbon policy expectations

DOE PAGES

Mignone, Bryan K.; Showalter, Sharon; Wood, Frances; ...

2017-09-07

One option for reducing carbon emissions in the power sector is replacement of coal-fired generation with less carbon-intensive natural gas combined cycle (NGCC) generation. In the United States, where there is abundant, low-cost natural gas supply, increased NGCC deployment could be a cost-effective emissions abatement opportunity at relatively modest carbon prices. However, under scenarios in which carbon prices rise and deeper emissions reductions are achieved, other technologies may be more cost-effective than NGCC in the future. In this analysis, using a US energy system model with foresight (a version of the National Energy Modeling System or “NEMS” model), we findmore » that varying expectations about carbon prices after 2030 does not materially affect NGCC deployment prior to 2030, all else equal. An important implication of this result is that, under the set of natural gas and carbon price trajectories explored here, myopic behavior or other imperfect expectations about potential future carbon policy do not change the natural gas deployment path or lead to stranded natural gas generation infrastructure. Lastly, we explain these results in terms of the underlying economic competition between available generation technologies and discuss the broader relevance to US climate change mitigation policy.« less

Post-hit dynamics of price limit hits in the Chinese stock markets

NASA Astrophysics Data System (ADS)

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

2017-01-01

Price limit trading rules are useful to cool off traders short-term trading mania on individual stocks. The price dynamics approaching the limit boards are known as the magnet effect. However, the price dynamics after opening price limit hits are not well investigated. Here, we provide a detailed analysis on the price dynamics after the hits of up-limit or down-limit is open based on all A-share stocks traded in the Chinese stock markets. A "W" shape is found in the expected return, which reveals high probability of a continuous price limit hit on the following day. We also find that price dynamics after opening limit hits are dependent on the market trends. The time span of continuously hitting the price limit is found to an influence factor of the expected profit after the limit hit is open. Our analysis provides a better understanding of the price dynamics around the limit boards and contributes potential practical values for investors.

5 CFR 591.227 - What adjustment factors does OPM add to the price indexes?

Code of Federal Regulations, 2010 CFR

2010-01-01

... 5 Administrative Personnel 1 2010-01-01 2010-01-01 false What adjustment factors does OPM add to the price indexes? 591.227 Section 591.227 Administrative Personnel OFFICE OF PERSONNEL MANAGEMENT CIVIL SERVICE REGULATIONS ALLOWANCES AND DIFFERENTIALS Cost-of-Living Allowance and Post Differential-Nonforeign Areas Cost-Of-Living Allowances §...

The price of drugs for chronic myeloid leukemia (CML) is a reflection of the unsustainable prices of cancer drugs: from the perspective of a large group of CML experts

PubMed Central

Abboud, Camille; Berman, Ellin; Cohen, Adam; Cortes, Jorge; DeAngelo, Daniel; Deininger, Michael; Devine, Steven; Druker, Brian; Fathi, Amir; Jabbour, Elias; Jagasia, Madan; Kantarjian, Hagop; Khoury, Jean; Laneuville, Pierre; Larson, Richard; Lipton, Jeffrey; Moore, Joseph O.; Mughal, Tariq; O’Brien, Susan; Pinilla-Ibarz, Javier; Quintas-Cardama, Alfonso; Radich, Jerald; Reddy, Vishnu; Schiffer, Charles; Shah, Neil; Shami, Paul; Silver, Richard T.; Snyder, David; Stone, Richard; Talpaz, Moshe; Tefferi, Ayalew; Van Etten, Richard A.; Wetzler, Meir; Abruzzese, Elisabetta; Apperley, Jane; Breccia, Massimo; Byrne, Jenny; Cervantes, Francisco; Chelysheva, Ekaterina; Clark, R. E.; de Lavallade, Hugues; Dyagil, Iryna; Gambacorti-Passerini, Carlo; Goldman, John; Haznedaroglu, Ibrahim; Hjorth-Hansen, Henrik; Holyoake, Tessa; Huntly, Brian; le Coutre, Philipp; Lomaia, Elza; Mahon, Francois-Xavier; Marin-Costa, David; Martinelli, Giovanni; Mayer, Jiri; Milojkovic, Dragana; Olavarria, Eduardo; Porkka, Kimmo; Richter, Johan; Rousselot, Philippe; Saglio, Giuseppe; Saydam, Guray; Stentoft, Jesper; Turkina, Anna; Vigneri, Paolo; Zaritskey, Andrey; Aguayo, Alvaro; Ayala, Manuel; Bendit, Israel; Maria Bengio, Raquel; Best, Carlos; Bullorsky, Eduardo; Cervera, Eduardo; DeSouza, Carmino; Fanilla, Ernesto; Gomez-Almaguer, David; Hamerschlak, Nelson; Lopez, Jose; Magarinos, Alicia; Meillon, Luis; Milone, Jorge; Moiraghi, Beatriz; Pasquini, Ricardo; Pavlovsky, Carolina; Ruiz-Arguelles, Guillermo J.; Spector, Nelson; Arthur, Christopher; Browett, Peter; Grigg, Andrew; Hu, Jianda; Huang, Xiao-jun; Hughes, Tim; Jiang, Qian; Jootar, Saengsuree; Kim, Dong-Wook; Malhotra, Hemant; Malhotra, Pankaj; Matsumura, Itaru; Melo, Junia; Ohnishi, Kazunori; Ohno, Ryuzo; Saikia, Tapan; Schwarer, Anthony P.; Takahashi, Naoto; Tam, Constantine; Tauchi, Tetsuzo; Usuki, Kensuke; Wang, Jianxiang; Abdel-Rahman, Fawzi; Deeb Saeed Aljurf, Mahmoud; Bazarbachi, Ali; Ben Yehuda, Dina; Chaudhri, Naeem; Durosinmi, Muheez; Kamel, Hossam; Louw, Vernon; Francis Matti, Bassam; Nagler, Arnon; Raanani, Pia; Salem, Ziad

2013-01-01

As a group of more than 100 experts in chronic myeloid leukemia (CML), we draw attention to the high prices of cancer drugs, with the particular focus on the prices of approved tyrosine kinase inhibitors for the treatment of CML. This editorial addresses the multiple factors involved in cancer drug pricing and their impact on individual patients and health care policies, and argues for the need to (1) lower the prices of cancer drugs to allow more patients to afford them and (2) maintain sound long-term health care policies. PMID:23620577

Would banning atrazine benefit farmers?

PubMed Central

Ackerman, Frank; Whited, Melissa; Knight, Patrick

2014-01-01

Atrazine, an herbicide used on most of the US corn (maize) crop, is the subject of ongoing controversy, with increasing documentation of its potentially harmful health and environmental impacts. Supporters of atrazine often claim that it is of great value to farmers; most recently, Syngenta, the producer of atrazine, sponsored an “Atrazine Benefits Team” (ABT) of researchers who released a set of five papers in 2011, reporting huge economic benefits from atrazine use in US agriculture. A critical review of the ABT papers shows that they have underestimated the growing problem of atrazine-resistant weeds, offered only a partial review of the effectiveness of alternative herbicides, and ignored the promising option of non-chemical weed management techniques. In addition, the most complete economic analysis in the ABT papers implies that withdrawal of atrazine would lead to a decrease in corn yields of 4.4% and an increase in corn prices of 8.0%. The result would be an increase in corn growers’ revenues, equal to US$1.7 billion annually under ABT assumptions. Price impacts on consumers would be minimal: at current levels of ethanol production and use, gasoline prices would rise by no more than US$0.03 per gallon; beef prices would rise by an estimated US$0.01 for a 4-ounce hamburger and US$0.05 for an 8-ounce steak. Thus withdrawal of atrazine would boost farm revenues, while only changing consumer prices by pennies. PMID:24804340

76 FR 66319 - Notice of Certain Operating Cost Adjustment Factors for 2012

Federal Register 2010, 2011, 2012, 2013, 2014

2011-10-26

..., Residential Energy Price, 2009-2010 annual prices in dollars per 1,000 cubic feet at the state level. Due to... used as the best available indicator of OCAFs for these areas. The best current price data sources for..., electricity, and natural gas from Department of Energy surveys are relatively current and continue to be used...

76 FR 74088 - Self-Regulatory Organizations; Chicago Stock Exchange, Incorporated; Notice of Filing Proposed...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-11-30

... rights and warrants are affected by the price of the underlying stock as well as other factors, particularly the volatility of the stock. As a consequence, the prices of rights and warrants may move more dramatically than the prices of the underlying stocks even when the rights and warrants (and the underlying...

76 FR 74101 - Self-Regulatory Organizations; EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-11-30

... rights and warrants are affected by the price of the underlying stock as well as other factors, particularly the volatility of the stock. As a consequence, the prices of rights and warrants may move more dramatically than the prices of the underlying stocks even when the rights and warrants (and the underlying...

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

Code of Federal Regulations, 2010 CFR

2010-04-01

... transaction price initially reflected in the taxpayer's books and records. The results of controlled..., including an analysis of the economic and legal factors that affect the pricing of its property or services... the economic analysis and projections relied upon in developing the method. For example, if a profit...

Market structure in U.S. southern pine roundwood

Treesearch

Matthew F. Bingham; Jeffrey P. Prestemon; Douglas J. MacNair; Robert C. Abt

2003-01-01

Time series of commodity prices from multiple locations can behave as if responding to forces of spatial arbitrage. cvcn while such prices may instead be responding similarly to common factors aside from spatial arbitrage. Hence, while the Law of One Price may hold as a statistical concept, its acceptance is not sufficient to conclude market integration. We tested...

The Auditory Hazard Assessment Algorithm for Humans (AHAAH): Hazard Evaluation of Intense Sounds

DTIC Science & Technology

2011-07-01

6  3.2  Cochlear Susceptibility...pressures are higher (peak clipping during the higher pressure reduces the flow of energy to the inner ear) (Price, 2006). It has also been shown that...more or less energetic by 10 or 20 dB there is no assurance that the energy in the cochlear input will change by an equal amount. This explains why

HIGH ENERGY PHYSICS: Bulgarians Sue CERN for Leniency.

PubMed

Koenig, R

2000-10-13

In cash-strapped Bulgaria, scientists are wondering whether a ticket for a front-row seat in high-energy physics is worth the price: Membership dues in CERN, the European particle physics lab, nearly equal the country's entire budget for competitive research grants. Faced with that grim statistic and a plea for leniency from Bulgaria's government, CERN's governing council is considering slashing the country's membership dues for the next 2 years.

Pricing health care services: applications to the health maintenance organization.

PubMed

Sweeney, R E; Franklin, S P

1986-01-01

This article illustrates how management in one type of service industry, the health maintenance organization (HMO), have attempted to formalize pricing. This effort is complicated by both the intangibility of the service delivered and the relatively greater influence in service industries of non-cost price factors such as accessibility, psychology, and delays. The presentation describes a simple computerized approach that allows the marketing manager to formally estimate the effect of incremental changes in rates on the firm's projected patterns of enrollment growth and net revenues. The changes in turn reflect underlying variations in the mix of pricing influences including psychological and other factors. Enrollment projections are crucial to the firm's financial planning and staffing. In the past, most HMO enrollment and revenue projections of this kind were notoriously unreliable. The approach described here makes it possible for HMOs to fine-tune their pricing policies. It also provides a formal and easily understood mechanism by which management can evaluate and reach consensus on alternative scenarios for enrollment growth, staff recruitment and capacity expansion.

Pricing and competition in the private dental market in Finland.

PubMed

Widström, E; Väisänen, A; Mikkola, H

2011-06-01

To investigate how the prices were set in private dental care, which factors determined prices and whether the recent National Dental Care Reform had increased competition in the dental care market in Finland. A questionnaire to all full time private dentists (n = 1,121) in the ten largest cities. Characteristics of the practice, prices charged, price setting, perceived competition and expectations for the practices were requested. The response rate was 59.6%. Correlation analysis (Pearson's) was used to study relationships between the prices of different treatment items. Linear regression analysis was used to study determinants of the price of a one surface filling. Most dentists' fee schedules were based on the price of a one surface filling and updated annually. Changes in practice costs calculated by the dentists' professional association and information on average prices charged on dental treatments in the country influenced pricing. High price levels were associated with specialisation, working in a group practice, working close to many other practices or in a town with a dental school. Less than half of the respondents had faced competition in dental services and price competition was insignificant. Price setting followed traditional patterns and private markets in dental services were not found to be very competitive.

Factors affecting the willingness to pay for implants: A study of patients in Riyadh, Saudi Arabia.

PubMed

Al Garni, Bishi; Pani, Sharat Chandra; Almaaz, Adel; Al Qeshtaini, Ehsan; Abu-Haimed, Hamad; Al Sharif, Khalid

2012-11-01

One of the factors that dissuade patients needing tooth replacement from choosing dental implants is the prohibitive cost. Willingness to pay (WTP) is a useful tool to determine the ideal cost of an expensive procedure. The aim of this study was to study the factors that influence the willingness to pay (WTP) among patients attending a private clinic and compare them to those attending a government setup. A total of 100 patients (38 male, 62 female) who had one or more missing teeth were presented with different cost-benefit scenarios and then asked if they were willing to pay the median cost of a single implant in Riyadh city. The mean WTP price was compared using the one way-ANOVA, factors which could possibly influence patients' WTP were grouped together in a Binomial logistic regression model. Of the 100 individuals surveyed 67% said they would be willing to pay the median price for the placement of an implant. A comparison of socio-demographic factors showed that significant differences were found between gender, income groups and setting of the clinic in the mean WTP price of the patients (P < 0.05). We also found that there was a significant difference in the mean WTP price between groups with regard to the area of the missing tooth, the patients' perception of their oral health and the their desire to want an implant (P < 0.05). The majority of the patients surveyed were willing to pay the median price for an implant. Willingness to pay (WTP) is a multifactorial variable which is significantly influenced by the income of the patient, the setting of the clinic and the gender; the most significant factor being the acceptability of the implant to the patient.

Panel data models with spatial correlation: Estimation theory and an empirical investigation of the United States wholesale gasoline industry

NASA Astrophysics Data System (ADS)

Kapoor, Mudit

The first part of my dissertation considers the estimation of a panel data model with error components that are both spatially and time-wise correlated. The dissertation combines widely used model for spatial correlation (Cliff and Ord (1973, 1981)) with the classical error component panel data model. I introduce generalizations of the generalized moments (GM) procedure suggested in Kelejian and Prucha (1999) for estimating the spatial autoregressive parameter in case of a single cross section. I then use those estimators to define feasible generalized least squares (GLS) procedures for the regression parameters. I give formal large sample results concerning the consistency of the proposed GM procedures, as well as the consistency and asymptotic normality of the proposed feasible GLS procedures. The new estimators remain computationally feasible even in large samples. The second part of my dissertation employs a Cliff-Ord-type model to empirically estimate the nature and extent of price competition in the US wholesale gasoline industry. I use data on average weekly wholesale gasoline price for 289 terminals (distribution facilities) in the US. Data on demand factors, cost factors and market structure that affect price are also used. I consider two time periods, a high demand period (August 1999) and a low demand period (January 2000). I find a high level of competition in prices between neighboring terminals. In particular, price in one terminal is significantly and positively correlated to the price of its neighboring terminal. Moreover, I find this to be much higher during the low demand period, as compared to the high demand period. In contrast to previous work, I include for each terminal the characteristics of the marginal customer by controlling for demand factors in the neighboring location. I find these demand factors to be important during period of high demand and insignificant during the low demand period. Furthermore, I have also considered spatial correlation in unobserved factors that affect price. I find it to be high and significant only during the low demand period. Not correcting for it leads to incorrect inferences regarding exogenous explanatory variables.

The upward spiral of drug costs: a time series analysis of drugs used in the treatment of hemophilia.

PubMed

Rogoff, Edward G; Guirguis, Hany S; Lipton, Richard A; Seremetis, Stephanie V; DiMichele, Donna M; Agnew, George M; Karpatkin, Margaret; Barish, Robert J; Jones, Robert L; Bianco, Celso; Knothe, Barbara D; Lee, Myung-Soo

2002-10-01

Hemophilia is an expensive disease because its treatment is heavily dependent on costly clotting factor drugs. Over the last nine years,a consortium of three Comprehensive Hemophilia Treatment Centers and other hospitals, which purchased clotting factors for their patients, has seen treatment costs escalate on average 17% annually. Currently, new, even more expensive drugs are entering the market. This study analyzes 3,244 purchases that were made over a nine-year period totaling nearly 500 million units of clotting factor, representing every product on the market. Purchases were made both apart from and under the Federal Public Health Service (PHS)discount pricing rules. The main cause of the increases was the move to newer, more expensive products. The average price of existing products increased less than 2%per year, but new products were priced, on average, 47% higher than existing products. Overall consumption increased by an average of 5% per year, likely reflecting prophylactic treatment modalities that require greater amounts of clotting factor. Government pricing programs, such as the PHS program, were ineffective or counterproductive at reducing costs. There is a notable absence of competition in this market, with a few dominant companies having a functional monopoly in the largest segments of the market. Prices of older products are not lowered, even when new products are brought to market. A few products that serve small patient groups have had their prices increased substantially. This escalation is likely to continue as new, more expensive clotting factor drugs are developed. Since these new products are not proven to be any safer or more effective than the current products, this situation creates a risk of intervention by government and insurers to address both treatment costs and exhaustion of patients' insurance caps. Drug companies are not serving the patients by pricing new, but often very similar, products so aggressively. The trends seen in this patient group will likely be seen in other patient groups in the future. Ultimately, doctors and patients will lose treatment options and health care availability unless collaborative strategies are developed to reduce costs.

Year in Review: Crude Oil Prices 2014

EIA Publications

2015-01-01

This report gives an overview of the primary drivers of crude oil price movements in 2014, in particular the substantial price decline that took place during the second half of the year. Factors such as increased global supply of crude oil, lower crude oil supply disruptions, lower economic growth expectations, and currency exchange rate movements are explored in the report. In addition, links are provided to several other published EIA articles with further in-depth discussion of topics related to the oil price decline.

Evaluating National Environmental Sustainability: Performance Measures and Influential Factors for OECD-Member Countries featuring Canadian Performance and Policy Implications

NASA Astrophysics Data System (ADS)

Calbick, Kenneth S.

This research reviews five studies that evaluate national environmental sustainability with composite indices; performs uncertainty and sensitivity analyses of techniques for building a composite index; completes principal components factor analysis to help build subindices measuring waste and pollution, sustainable energy, sustainable food, nature conservation, and sustainable cities (Due to its current importance, the greenhouse gases (GHG) indicator is included individually as another policy measure.); analyses factors that seem to influence performance: climate, population growth, population density, economic output, technological development, industrial structure, energy prices, environmental governance, pollution abatement and control expenditures, and environmental pricing; and explores Canadian policy implications of the results. The techniques to build composite indices include performance indicator selection, missing data treatment, normalisation technique, scale-effect adjustments, weights, and aggregation method. Scale-effect adjustments and normalisation method are significant sources of uncertainty inducing 68% of the observed variation in a country's final rank at the 95% level of confidence. Choice of indicators also introduces substantial variation as well. To compensate for this variation, the current study recommends that a composite index should always be analysed with other policy subindices and individual indicators. Moreover, the connection between population and consumption indicates that per capita scale-effect adjustments should be used for certain indicators. Rather than ranking normalisation, studies should use a method that retains information from the raw indicator values. Multiple regression and cluster analyses indicate economic output, environmental governance, and energy prices are major influential factors, with energy prices the most important. It is statistically significant for five out of seven performance measures at the 95% level of confidence: 37% variance explained on the environmental sustainability performance composite indicator out of 73%, 55% (of 55%) on the waste and pollution subindex, 20% (of 70%) on the sustainable energy subindex, 5% (of 100%) on the sustainable cities subindex, and 55% (of 81%) on the GHG indicator. Energy prices are relevant to Canadian policy; increasing prices could substantially improve Canada's performance. Policy makers should increase energy prices through a carbon pricing strategy that is congruent with the ecological fiscal reform advanced by the National Round Table on the Environment and the Economy. Keywords: sustainable development; composite indices; environmental policy; environmental governance; energy prices; Canada.

Consumer behaviour towards price-reduced suboptimal foods in the supermarket and the relation to food waste in households.

PubMed

Aschemann-Witzel, Jessica; Jensen, Jacob Haagen; Jensen, Mette Hyldetoft; Kulikovskaja, Viktorija

2017-09-01

To combat food waste, supermarkets offer food items at a reduced price in-store when they are close to the expiration date or perceived as suboptimal. It is yet unknown, however, which considerations consumers engage in when deciding about the offer, and whether focusing particularly on the price during food purchase might be related to greater food waste at home. Knowledge about both the consumers' food purchase process for these price-reduced foods and the potential wastage of price-focused consumers can contribute to the assessment of whether or not offering suboptimal food at reduced prices in-store actually reduces food waste across the supply chain. We explore these questions in a mixed-method study including 16 qualitative accompanied shopping interviews and a quantitative online experimental survey with 848 consumers in Denmark. The interviews reveal that the consumers interviewed assess their ability to consume the price-reduced suboptimal food at home already while in the store. Consumers consider the relation between product-related factors of package unit, expiration date, and product quality, in interaction with household-related factors of freezing/storing, household size/demand, and possible meal/cooking. The survey shows that consumers who are more price-focused report lower food waste levels and lower tendency to choose the optimal food item first at home, than those who are not emphasizing the price-quality relation or do not search for price offers to the same extent. Higher age and high education also played a role, and the price-focus is lower in high-income groups and among single households. The findings allow deriving recommendations for retailers and policy makers to support both the marketability and the subsequent actual consumption of price-reduced suboptimal food, but they also raise questions for further research of this underexplored area. Copyright © 2017 Elsevier Ltd. All rights reserved.

Quantum Bohmian model for financial market

NASA Astrophysics Data System (ADS)

Choustova, Olga Al.

2007-01-01

We apply methods of quantum mechanics for mathematical modeling of price dynamics at the financial market. The Hamiltonian formalism on the price/price-change phase space describes the classical-like evolution of prices. This classical dynamics of prices is determined by “hard” conditions (natural resources, industrial production, services and so on). These conditions are mathematically described by the classical financial potential V(q), where q=(q1,…,qn) is the vector of prices of various shares. But the information exchange and market psychology play important (and sometimes determining) role in price dynamics. We propose to describe such behavioral financial factors by using the pilot wave (Bohmian) model of quantum mechanics. The theory of financial behavioral waves takes into account the market psychology. The real trajectories of prices are determined (through the financial analogue of the second Newton law) by two financial potentials: classical-like V(q) (“hard” market conditions) and quantum-like U(q) (behavioral market conditions).

Cooperative Emissions Trading Game: International Permit Market Dominated by Buyers

PubMed Central

Honjo, Keita

2015-01-01

Rapid reduction of anthropogenic greenhouse gas emissions is required to mitigate disastrous impacts of climate change. The Kyoto Protocol introduced international emissions trading (IET) to accelerate the reduction of carbon dioxide (CO2) emissions. The IET controls CO2 emissions through the allocation of marketable emission permits to sovereign countries. The costs for acquiring additional permits provide buyers with an incentive to reduce their CO2 emissions. However, permit price has declined to a low level during the first commitment period (CP1). The downward trend in permit price is attributed to deficiencies of the Kyoto Protocol: weak compliance enforcement, the generous allocation of permits to transition economies (hot air), and the withdrawal of the US. These deficiencies created a buyer’s market dominated by price-making buyers. In this paper, I develop a coalitional game of the IET, and demonstrate that permit buyers have dominant bargaining power. In my model, called cooperative emissions trading (CET) game, a buyer purchases permits from sellers only if the buyer forms a coalition with the sellers. Permit price is determined by bargaining among the coalition members. I evaluated the demand-side and supply-side bargaining power (DBP and SBP) using Shapley value, and obtained the following results: (1) Permit price is given by the product of the buyer’s willingness-to-pay and the SBP (= 1 − DBP). (2) The DBP is greater than or equal to the SBP. These results indicate that buyers can suppress permit price to low levels through bargaining. The deficiencies of the Kyoto Protocol enhance the DBP, and contribute to the demand-side dominance in the international permit market. PMID:26244778

Store-directed price promotions and communications strategies improve healthier food supply and demand: impact results from a randomized controlled, Baltimore City store-intervention trial

PubMed Central

Budd, Nadine; Jeffries, Jayne K; Jones-Smith, Jessica; Kharmats, Anna; McDermott, Ann Yelmokas; Gittelsohn, Joel

2017-01-01

Objective Small food store interventions show promise to increase healthy food access in under-resourced areas. However, none have tested the impact of price discounts on healthy food supply and demand. We tested the impact of store-directed price discounts and communications strategies, separately and combined, on the stocking, sales and prices of healthier foods and on storeowner psychosocial factors. Design Factorial design randomized controlled trial. Setting Twenty-four corner stores in low-income neighbourhoods of Baltimore City, MD, USA. Subjects Stores were randomized to pricing intervention, communications intervention, combined pricing and communications intervention, or control. Stores that received the pricing intervention were given a 10–30% price discount by wholesalers on selected healthier food items during the 6-month trial. Communications stores received visual and interactive materials to promote healthy items, including signage, taste tests and refrigerators. Results All interventions showed significantly increased stock of promoted foods υ. control. There was a significant treatment effect for daily unit sales of healthy snacks (β = 6·4, 95% CI 0·9, 11·9) and prices of healthy staple foods (β = −0·49, 95% CI −0·90, −0·03) for the combined group υ. control, but not for other intervention groups. There were no significant intervention effects on storeowner psychosocial factors. Conclusions All interventions led to increased stock of healthier foods. The combined intervention was effective in increasing sales of healthier snacks, even though discounts on snacks were not passed to the consumer. Experimental research in small stores is needed to understand the mechanisms by which store-directed price promotions can increase healthy food supply and demand. PMID:28222818

Store-directed price promotions and communications strategies improve healthier food supply and demand: impact results from a randomized controlled, Baltimore City store-intervention trial.

PubMed

Budd, Nadine; Jeffries, Jayne K; Jones-Smith, Jessica; Kharmats, Anna; McDermott, Ann Yelmokas; Gittelsohn, Joel

2017-12-01

Small food store interventions show promise to increase healthy food access in under-resourced areas. However, none have tested the impact of price discounts on healthy food supply and demand. We tested the impact of store-directed price discounts and communications strategies, separately and combined, on the stocking, sales and prices of healthier foods and on storeowner psychosocial factors. Factorial design randomized controlled trial. Twenty-four corner stores in low-income neighbourhoods of Baltimore City, MD, USA. Stores were randomized to pricing intervention, communications intervention, combined pricing and communications intervention, or control. Stores that received the pricing intervention were given a 10-30 % price discount by wholesalers on selected healthier food items during the 6-month trial. Communications stores received visual and interactive materials to promote healthy items, including signage, taste tests and refrigerators. All interventions showed significantly increased stock of promoted foods v. There was a significant treatment effect for daily unit sales of healthy snacks (β=6·4, 95 % CI 0·9, 11·9) and prices of healthy staple foods (β=-0·49, 95 % CI -0·90, -0·03) for the combined group v. control, but not for other intervention groups. There were no significant intervention effects on storeowner psychosocial factors. All interventions led to increased stock of healthier foods. The combined intervention was effective in increasing sales of healthier snacks, even though discounts on snacks were not passed to the consumer. Experimental research in small stores is needed to understand the mechanisms by which store-directed price promotions can increase healthy food supply and demand.

Biosimilar granulocyte colony-stimulating factor uptakes in the EU-5 markets: a descriptive analysis.

PubMed

Bocquet, François; Paubel, Pascal; Fusier, Isabelle; Cordonnier, Anne-Laure; Le Pen, Claude; Sinègre, Martine

2014-06-01

Biosimilars are copies of biological reference medicines. Unlike generics (copies of chemical molecules), biologics are complex, expensive and complicated to produce. The knowledge of the factors affecting the competition following patent expiry for biologics remains limited. The aims of this study were to analyse the EU-5 Granulocyte-Colony Stimulating Factor (G-CSF) markets and to determine the factors affecting the G-CSF biosimilar uptakes, particularly that of biosimilar prices relative to originators. Data on medicine volumes, values, and ex-manufacturer prices for all G-CSF categories were provided by IMS Health. Volumes were calculated in defined daily doses (DDD) and prices in Euros per DDD. In the EU-5 countries, there is 5 years of experience with biosimilar G-CSFs (2007-2011). Two G-CSF market profiles exist: (1) countries with a high retail market distribution, which are the largest G-CSF markets with low global G-CSF biosimilar uptakes (5.4% in France and 8.5% in Germany in 2011); and (2) countries with a dominant hospital channel, which are the smallest markets with higher G-CSF biosimilar uptakes (12.4% in Spain and 20.4% in the UK). The more the decisions are decentralized, the more their uptakes are high. The price difference between G-CSF biosimilars and their reference plays a marginal role at a global level (price differences of +13.3% in the UK and -20.4% in France). The competition with G-CSF biosimilars varies significantly between EU-5 countries, probably because of G-CSF distribution channel differences. Currently, this competition is not mainly based on prices, but on local political options to stimulate tendering between them and recently branded second- or third-generation products.

78 FR 69041 - Non-Oriented Electrical Steel From the People's Republic of China, Germany, Japan, the Republic...

Federal Register 2010, 2011, 2012, 2013, 2014

2013-11-18

... physical characteristics of the subject merchandise in order to report the relevant factors and costs of... companies.\\29\\ For Korea and Taiwan, Petitioner treated quoted prices as the ex-factory prices.\\30\\ \\28\\ See.... Accordingly, the NV of the product is appropriately based on factors of production (FOPs) valued in a...

Pricing of common cosmetic surgery procedures: local economic factors trump supply and demand.

PubMed

Richardson, Clare; Mattison, Gennaya; Workman, Adrienne; Gupta, Subhas

2015-02-01

The pricing of cosmetic surgery procedures has long been thought to coincide with laws of basic economics, including the model of supply and demand. However, the highly variable prices of these procedures indicate that additional economic contributors are probable. The authors sought to reassess the fit of cosmetic surgery costs to the model of supply and demand and to determine the driving forces behind the pricing of cosmetic surgery procedures. Ten plastic surgery practices were randomly selected from each of 15 US cities of various population sizes. Average prices of breast augmentation, mastopexy, abdominoplasty, blepharoplasty, and rhytidectomy in each city were compared with economic and demographic statistics. The average price of cosmetic surgery procedures correlated substantially with population size (r = 0.767), cost-of-living index (r = 0.784), cost to own real estate (r = 0.714), and cost to rent real estate (r = 0.695) across the 15 US cities. Cosmetic surgery pricing also was found to correlate (albeit weakly) with household income (r = 0.436) and per capita income (r = 0.576). Virtually no correlations existed between pricing and the density of plastic surgeons (r = 0.185) or the average age of residents (r = 0.076). Results of this study demonstrate a correlation between costs of cosmetic surgery procedures and local economic factors. Cosmetic surgery pricing cannot be completely explained by the supply-and-demand model because no association was found between procedure cost and the density of plastic surgeons. © 2015 The American Society for Aesthetic Plastic Surgery, Inc. Reprints and permission: journals.permissions@oup.com.

Are interventions to promote healthy eating equally effective for all? Systematic review of socioeconomic inequalities in impact.

PubMed

McGill, Rory; Anwar, Elspeth; Orton, Lois; Bromley, Helen; Lloyd-Williams, Ffion; O'Flaherty, Martin; Taylor-Robinson, David; Guzman-Castillo, Maria; Gillespie, Duncan; Moreira, Patricia; Allen, Kirk; Hyseni, Lirije; Calder, Nicola; Petticrew, Mark; White, Martin; Whitehead, Margaret; Capewell, Simon

2015-05-02

Interventions to promote healthy eating make a potentially powerful contribution to the primary prevention of non communicable diseases. It is not known whether healthy eating interventions are equally effective among all sections of the population, nor whether they narrow or widen the health gap between rich and poor. We undertook a systematic review of interventions to promote healthy eating to identify whether impacts differ by socioeconomic position (SEP). We searched five bibliographic databases using a pre-piloted search strategy. Retrieved articles were screened independently by two reviewers. Healthier diets were defined as the reduced intake of salt, sugar, trans-fats, saturated fat, total fat, or total calories, or increased consumption of fruit, vegetables and wholegrain. Studies were only included if quantitative results were presented by a measure of SEP. Extracted data were categorised with a modified version of the "4Ps" marketing mix, expanded to 6 "Ps": "Price, Place, Product, Prescriptive, Promotion, and Person". Our search identified 31,887 articles. Following screening, 36 studies were included: 18 "Price" interventions, 6 "Place" interventions, 1 "Product" intervention, zero "Prescriptive" interventions, 4 "Promotion" interventions, and 18 "Person" interventions. "Price" interventions were most effective in groups with lower SEP, and may therefore appear likely to reduce inequalities. All interventions that combined taxes and subsidies consistently decreased inequalities. Conversely, interventions categorised as "Person" had a greater impact with increasing SEP, and may therefore appear likely to reduce inequalities. All four dietary counselling interventions appear likely to widen inequalities. We did not find any "Prescriptive" interventions and only one "Product" intervention that presented differential results and had no impact by SEP. More "Place" interventions were identified and none of these interventions were judged as likely to widen inequalities. Interventions categorised by a "6 Ps" framework show differential effects on healthy eating outcomes by SEP. "Upstream" interventions categorised as "Price" appeared to decrease inequalities, and "downstream" "Person" interventions, especially dietary counselling seemed to increase inequalities. However the vast majority of studies identified did not explore differential effects by SEP. Interventions aimed at improving population health should be routinely evaluated for differential socioeconomic impact.

48 CFR 19.1103 - Procedures.

Code of Federal Regulations, 2014 CFR

2014-10-01

... waived the evaluation adjustment; or (2) An otherwise successful offer from a historically black college... adjustment, to be made at a price that exceeds fair market price by more than the factor as determined by the...

48 CFR 19.1103 - Procedures.

Code of Federal Regulations, 2012 CFR

2012-10-01

... waived the evaluation adjustment; or (2) An otherwise successful offer from a historically black college... adjustment, to be made at a price that exceeds fair market price by more than the factor as determined by the...

48 CFR 19.1103 - Procedures.

Code of Federal Regulations, 2010 CFR

2010-10-01

... waived the evaluation adjustment; or (2) An otherwise successful offer from a historically black college... adjustment, to be made at a price that exceeds fair market price by more than the factor as determined by the...

48 CFR 19.1103 - Procedures.

Code of Federal Regulations, 2011 CFR

2011-10-01

... waived the evaluation adjustment; or (2) An otherwise successful offer from a historically black college... adjustment, to be made at a price that exceeds fair market price by more than the factor as determined by the...

48 CFR 19.1103 - Procedures.

Code of Federal Regulations, 2013 CFR

2013-10-01

... waived the evaluation adjustment; or (2) An otherwise successful offer from a historically black college... adjustment, to be made at a price that exceeds fair market price by more than the factor as determined by the...

48 CFR 246.470-1 - Assessment of additional costs.

Code of Federal Regulations, 2010 CFR

2010-10-01

... of Supplies—Fixed-Price; and (2) Demand payment of the costs in accordance with the collection... Supplies—Fixed-Price, after considering the factors in paragraph (c) of this subsection, the quality...

Cost-effectiveness and pricing of antibacterial drugs.

PubMed

Verhoef, Talitha I; Morris, Stephen

2015-01-01

Growing resistance to antibacterial agents has increased the need for the development of new drugs to treat bacterial infections. Given increasing pressure on limited health budgets, it is important to study the cost-effectiveness of these drugs, as well as their safety and efficacy, to find out whether or not they provide value for money and should be reimbursed. In this article, we systematically reviewed 38 cost-effectiveness analyses of new antibacterial agents. Most studies showed the new antibacterial drugs were cost-effective compared to older generation drugs. Drug pricing is a complicated process, involving different stakeholders, and has a large influence on cost-effectiveness. Value-based pricing is a method to determine the price of a drug at which it can be cost-effective. It is currently unclear what the influence of value-based pricing will be on the prices of new antibacterial agents, but an important factor will be the definition of 'value', which as well as the impact of the drug on patient health might also include other factors such as wider social impact and the health impact of disease. © 2015 The Authors. Chemical Biology & Drug Design Published by John Wiley & Sons Ltd.

Utility-Scale Solar 2016: An Empirical Analysis of Project Cost, Performance, and Pricing Trends in the United States

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

Bolinger, Mark; Seel, Joachim; LaCommare, Kristina Hamachi

The utility-scale solar sector has led the overall U.S. solar market in terms of installed capacity since 2012. In 2016, the utility-scale sector installed more than 2.5 times as much new capacity as did the residential and commercial sectors combined, and is expected to maintain its dominant position for at least another five years. This report—the fifth edition in an ongoing annual series—provides data-driven analysis of the utility-scale solar project fleet in the United States. We analyze not just installed project prices, but also operating costs, capacity factors, and power purchase agreement ("PPA") prices from a large sample of utility-scalemore » PV and CSP projects throughout the United States. Highlights from this year's edition include the following: Installation Trends: The use of solar tracking devices dominated 2016 installations, at nearly 80% of all new capacity. In a reflection of the ongoing geographic expansion of the market beyond California and the Southwest, the median long-term average insolation level at newly built project sites declined again in 2016. While new fixed-tilt projects are now seen predominantly in less-sunny regions, tracking projects are increasingly pushing into these same regions. The median inverter loading ratio has stabilized in 2016 at 1.3 for both tracking and fixed-tilt projects. Installed Prices: Median installed PV project prices within a sizable sample have fallen by two-thirds since the 2007-2009 period, to $2.2/WAC (or $1.7/WDC) for projects completed in 2016. The lowest 20th percentile of projects within our 2016 sample were priced at or below $2.0/WAC, with the lowest-priced projects around $1.5/WAC. Overall price dispersion across the entire sample and across geographic regions decreased significantly in 2016. Operation and Maintenance (“O&M”) Costs: What limited empirical O&M cost data are publicly available suggest that PV O&M costs were in the neighborhood of $18/kWAC-year, or $8/MWh, in 2016. These numbers include only those costs incurred to directly operate and maintain the generating plant. Capacity Factors: The cumulative net AC capacity factors of individual PV projects range widely, from 15.4% to 35.5%, with a sample median of 26.3%. This project-level variation is based on a number of factors, including the strength of the solar resource at the project site, whether the array is mounted at a fixed-tilt or on a tracking mechanism, the inverter loading ratio, degradation, and curtailment. Changes in at least the first three of these factors drove mean capacity factors higher from 2010- to 2013-vintage projects, where they’ve remained fairly steady among both 2014- and 2015-vintage projects as an ongoing increase in the prevalence of tracking has been offset by a build-out of lower resource sites. Meanwhile, several of the newer CSP projects in the United States are struggling to match long-term performance expectations. PPA Prices: Driven by lower installed project prices and improving capacity factors, levelized PPA prices for utility-scale PV have fallen dramatically over time. Most recent PPAs in our sample are priced at or below $50/MWh levelized, with a few priced as aggressively as ~$30/MWh. Though impressive in pace and scale, these falling PPA prices have been offset to some degree by declining wholesale market value within high penetration markets like California, where in 2016 a MWh of solar generation was worth just 83% of a MWh of flat, round-the-clock generation. At the end of 2016, there were at least 121.4 GW of utility-scale solar power capacity within the interconnection queues across the nation. The growth within these queues is widely distributed across all regions of the country: California and the Southeast each account for 23% of the 83.3 GW of solar that first entered the queues in 2016, followed by the Northeast (17%), the Southwest (16%), the Central region (12%), Texas (6%) and the Northwest (3%). The widening geographic distribution of solar projects is a clear sign that the utility-scale market is maturing and expanding outside of its traditional high-insolation comfort zones.« less

Implementation of a Novel Low-Cost Low-Profile Ku-Band Antenna Array for Single Beam Steering from Space

NASA Technical Reports Server (NTRS)

Host, Nicholas K.; Chen, Chi-Chih; Volakis, John L.; Miranda, Felix A.

2013-01-01

Phased array antennas afford many advantages over traditional reflector antennas due to their conformality, high aperture efficiency, and unfettered beam steering capability at the price of increased cost and complexity. This paper eliminates the complex and costly array backend via the implementation of a series fed array employing a propagation constant reconfigurable transmission line connecting each element in series. Scanning can then be accomplished through one small (less than or equal to 100mil) linear motion that controls propagation constant. Specifically, each element is fed via a reconfigurable coplanar stripline transmission line with a tapered dielectric insert positioned between the transmission line traces. The dielectric insert is allowed to move up and down to control propagation constant and therefore induce scanning. We present a 20 element patch array design, scanning from -25 deg. less than or equal to theta less than or equal to 21 deg. at 13GHz. Measurements achieve only10.5 deg. less than or equal to theta less than or equal to 22 deg. scanning due to a faulty, yet correctable, manufacturing process. Beam squint is measured to be plus or minus 3 deg. for a 600MHz bandwidth. This prototype was improved to give scanning of 3.5 deg. less than or equal to theta less than or equal to 22 deg. Cross-pol patterns were shown to be -15dB below the main beam. Simulations accounting for fabrication errors match measured patterns, thus validating the designs.

Diabetes Device Reimbursement in the EU-5

PubMed Central

Attorney, Elmar Schäfer; Schnell, Gerald; Bobáková, Tamara

2013-01-01

The reimbursement landscape for new and innovative diabetes devices in Europe is very heterogeneous and nontransparent, with each country employing different mechanisms, pathways, and requirements. This article provides an overview of how diabetes device reimbursement works in the outpatient setting in the five major European Union markets (France, Germany, Italy, Spain, and the United Kingdom; the EU-5). It will be of particular interest to manufacturers of innovative devices. Markets are first categorized as either a centralized or a regionalized reimbursement decision-making system, and implications for device reimbursement are explored. In the second part, specific requirements and success factors for wide reimbursement in the EU-5 are analyzed in detail. Gaining early acceptance by the main influencers (key opinion leaders and payers) is the first step. Equally important is the provision of convincing evidence, be this clinical, health–economic (cost-effectiveness), or a demonstration of cost savings (budget impact). In some countries, local usage data may be a requirement as well. Lastly, as payers’ willingness to pay stems directly from their perceived value of a device, a key success factor and a necessary precondition for manufacturers is to set the right price. PMID:23911192

Associations between bride price stress and intimate partner violence amongst pregnant women in Timor-Leste.

PubMed

Rees, Susan; Mohsin, Mohammed; Tay, Alvin Kuowei; Soares, Elisa; Tam, Natalino; da Costa, Zelia; Tol, Wietse; Silove, Derrick

2017-08-28

Reducing violence against women is a global public health priority, particularly in low-income and conflict-affected societies. However, more needs to be known about the causes of intimate partner violence (IPV) in these settings, including the stress of bride price obligations. The representative study of women attending ante-natal clinics in Dili, Timor-Leste was conducted between June, 2013 and September, 2014 with 1672 pregnant women, a response rate of 96%. We applied contextually developed measures for the stress of bride price and poverty, and the World Health Organisation measure for intimate partner violence. Compared to those with no problems with bride price, women with moderate or serious problems with that custom reported higher rates of IPV (18.0% vs. 43.6%). Adjusting for socio-demographic factors, multivariate analysis revealed that ongoing poverty (OR = 1.75, 95% CI: 1.20-2.56) was significantly associated with IPV. Importantly, the strongest association with IPV was problems with bride price (OR = 2.73, 95% CI: 1.86-4.01). This is the first large consecutively sampled study to demonstrate a strong association between the stressors of bride price and poverty with IPV. Notably, bride price stress had the strongest association with IPV. Revealing this hitherto unrecognized factor of bride price stress may prove pivotal in guiding policy and interventions aimed at reducing IPV, and thereby improve the health and psychosocial status of women in low income and conflict-affected settings.

Econophysics: Master curve for price-impact function

NASA Astrophysics Data System (ADS)

Lillo, Fabrizio; Farmer, J. Doyne; Mantegna, Rosario N.

2003-01-01

The price reaction to a single transaction depends on transaction volume, the identity of the stock, and possibly many other factors. Here we show that, by taking into account the differences in liquidity for stocks of different size classes of market capitalization, we can rescale both the average price shift and the transaction volume to obtain a uniform price-impact curve for all size classes of firm for four different years (1995-98). This single-curve collapse of the price-impact function suggests that fluctuations from the supply-and-demand equilibrium for many financial assets, differing in economic sectors of activity and market capitalization, are governed by the same statistical rule.

Price and welfare effects of a pharmaceutical substitution reform.

PubMed

Granlund, David

2010-12-01

The price effects of the Swedish pharmaceutical substitution reform are analyzed using data for a panel of all pharmaceutical product sold in Sweden in 1997-2007. The price reduction due to the reform was estimated to average 10% and was found to be significantly larger for brand-name pharmaceuticals than for generics. The results also imply that the reform amplified the effect that generic entry has on brand-name prices by a factor of 10. Results of a demand estimation imply that the price reductions increased total pharmaceutical consumption by 8% and consumer welfare by SEK 2.7 billion annually. Copyright © 2010 Elsevier B.V. All rights reserved.

Smoking Behavior among Jordanians: Physical, Psychological, Social, and Economic Reasons.

PubMed

Sweis, Nadia J

2018-03-12

To highlight the physical, psychological, social, and economic reasons related to sex differences in smoking behaviors in Jordan. A cross-sectional questionnaire-based survey was conducted among Jordanian adult smokers. Sex was a significant predictor of physical reasons related to smoking; when controlling for other factors (t 765 = 5.027; P < 0.001), women were more affected by physical factors than were men. In addition, work status was a significant predictor of physical reasons (t 765 = -2.563; P = 0.011), as was the price of cigarettes (t 765 = 2.224; P = 0.026). Age was a significant predictor of psychological reasons (t 765 = -3.092; P = 0.002): younger individuals were more likely to state psychological factors as their reason for smoking than were older individuals. Conversely, sex was a significant predictor (t 765 = 2.798; P = 0.005) of social reasons for smoking, with more men than women reporting social motivations. Women were more likely to smoke for physical factors that are positively correlated with the price of cigarettes, rendering them less responsive to an increase in the price of cigarettes. Conversely, men were more likely to smoke for social reasons that are negatively correlated with the price of cigarettes; thus, men are more responsive to an increase in the price of cigarettes. Future public policies aiming to combat smoking in Jordan should consider sex differences in smoking behavior because one policy may not necessarily fit all. Copyright © 2018. Published by Elsevier Inc.

Drivers of Live Cattle Price in the Livestock Trading System of Central Cameroon

PubMed Central

Motta, Paolo; Handel, Ian G.; Rydevik, Gustaf; Hamman, Saidou M.; Ngwa, Victor Ngu; Tanya, Vincent N.; Morgan, Kenton L.; Bronsvoort, Barend M. deC.; Porphyre, Thibaud

2018-01-01

Livestock production and trade are critical for the food security and welfare of rural households in sub-Saharan Africa. In Cameroon, animal trade consists mainly of live cattle commercialized through livestock markets. Identifying the factors contributing to cattle price formation is critical for designing effective policies for sustainable production and for increasing food availability. In this study, we evaluated the influence of a range of individual- and market-level factors on the price of cattle that were sold in all transactions (n = 118,017) recorded over a 12-month period from 31 livestock markets in the main cattle production area of the country. An information-theoretic approach using a generalized additive mixed-effect model was implemented to select the best explanatory model as well as evaluate the robustness of the identified drivers and the predictive ability of the model. The age and gender of the cattle traded were consistently found to be important drivers of the price (p < 0.01). Also, strong, but complex, relationships were found between cattle prices and both local human and bovine population densities. Finally, the model highlighted a positive association between the number of incoming trading connections of a livestock market and the price of the traded live cattle (p < 0.01). Although our analysis did not account for factors informing on specific phenotypic traits nor breed characteristics of cattle traded, nearly 50% of the observed variation in live cattle prices was explained by the final model. Ultimately, our model gives a large scale overview of drivers of cattle price formation in Cameroon and to our knowledge is the first study of this scale in Central Africa. Our findings represent an important milestone in designing efficient and sustainable animal health management programme in Cameroon and ensure livelihood sustainability for rural households. PMID:29387687

Drivers of Live Cattle Price in the Livestock Trading System of Central Cameroon.

PubMed

Motta, Paolo; Handel, Ian G; Rydevik, Gustaf; Hamman, Saidou M; Ngwa, Victor Ngu; Tanya, Vincent N; Morgan, Kenton L; Bronsvoort, Barend M deC; Porphyre, Thibaud

2017-01-01

Livestock production and trade are critical for the food security and welfare of rural households in sub-Saharan Africa. In Cameroon, animal trade consists mainly of live cattle commercialized through livestock markets. Identifying the factors contributing to cattle price formation is critical for designing effective policies for sustainable production and for increasing food availability. In this study, we evaluated the influence of a range of individual- and market-level factors on the price of cattle that were sold in all transactions ( n  = 118,017) recorded over a 12-month period from 31 livestock markets in the main cattle production area of the country. An information-theoretic approach using a generalized additive mixed-effect model was implemented to select the best explanatory model as well as evaluate the robustness of the identified drivers and the predictive ability of the model. The age and gender of the cattle traded were consistently found to be important drivers of the price ( p  < 0.01). Also, strong, but complex, relationships were found between cattle prices and both local human and bovine population densities. Finally, the model highlighted a positive association between the number of incoming trading connections of a livestock market and the price of the traded live cattle ( p  < 0.01). Although our analysis did not account for factors informing on specific phenotypic traits nor breed characteristics of cattle traded, nearly 50% of the observed variation in live cattle prices was explained by the final model. Ultimately, our model gives a large scale overview of drivers of cattle price formation in Cameroon and to our knowledge is the first study of this scale in Central Africa. Our findings represent an important milestone in designing efficient and sustainable animal health management programme in Cameroon and ensure livelihood sustainability for rural households.

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

PubMed

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

2011-12-01

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

Comparing gender discrimination and inequality in indie and traditional publishing

PubMed Central

Kapelner, Adam

2018-01-01

In traditional publishing, female authors’ titles command nearly half (45%) the price of male authors’ and are underrepresented in more prestigious genres, and books are published by publishing houses, which determined whose books get published, subject classification, and retail price. In the last decade, the growth of digital technologies and sales platforms have enabled unprecedented numbers of authors to bypass publishers to publish and sell books. The rise of indie publishing (aka self-publishing) reflects the growth of the “gig” economy, where the influence of firms has diminished and workers are exposed more directly to external markets. Encompassing the traditional and the gig economy, the book industry illuminates how the gig economy may disrupt, replicate, or transform the gender discrimination mechanisms and inequality found in the traditional economy. In a natural experiment spanning from 2002 to 2012 and including over two million book titles, we compare discrimination mechanisms and inequality in indie and traditional publishing. We find that indie publishing, though more egalitarian, largely replicates traditional publishing’s gender discrimination patterns, showing an unequal distribution of male and female authors by genre (allocative discrimination), devaluation of genres written predominantly by female authors (valuative discrimination), and lower prices within genres for books by female authors (within-job discrimination). However, these discrimination mechanisms are associated with far less price inequality in indie, only 7%, in large part due to the smaller and lower range of prices in indie publishing compared to traditional publishing. We conclude that, with greater freedom, workers in the gig economy may be inclined to greater equality but will largely replicate existing labor market segmentation and the lower valuation of female-typical work and of female workers. Nonetheless, price setting for work may be more similar for workers in the gig economy due to market competition that will compress prices ranges. PMID:29630619

The Price-Concentration Relationship in Early Residential Solar Third-Party Markets

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

Pless, Jacquelyn; Langheim, Ria; Machak, Christina

The market for residential solar photovoltaic (PV) systems in the United States has experienced tremendous growth over the past decade, with installed capacity more than doubling between 2014 and 2016 alone (SEIA, 2016). As the residential market continues to grow, it prompts new questions about the nature of competition between solar installers and how this competition, or lack thereof, affects the prices consumers are paying. It is often assumed that more competition leads to lower prices, but this is not universally true. For example, some studies have shown that factors such as brand loyalty could lead to a negative relationshipmore » between concentration and price in imperfectly competitive markets (Borenstein, 1985; Holmes, 1989). As such, the relationship between prices and market concentration is an open empirical question since theory could predict either a positive or negative relationship. Determining a relationship between prices and market concentration is challenging for several reasons. Most significantly, prices and market structure are simultaneously determined by each other -- the amount of competition a seller faces influences the price they can command, and prices determine a seller's market share. Previous studies have examined recent PV pricing trends over time and between markets (Davidson et al., 2015a; Davidson and Margolis 2015b; Nemet et al., 2016; Gillingham et al., 2014; Barbose and Darghouth 2015). While these studies of solar PV pricing are able to determine correlations between prices and market factors, they have not satisfactorily proven causation. Thus, to the best of our knowledge, there is little work to date that focuses on identifying the causal relationship between market structure and the prices paid by consumers. We use a unique dataset on third-party owned contract terms for the residential solar PV market in the San Diego Gas and Electricity service territory to better understand this relationship. Surprisingly, we find that firms charged higher prices in more competitive markets in our sample. The finding is robust across multiple definitions of firm concentration. There are at least two potential explanations for our findings. First, firms could be conducting entry deterrence strategies. It is possible that firms are acting in a non-competitive way and setting prices lower than they would be otherwise. Setting low prices that are below potential competitors' marginal costs could deter entrants and ensure a larger market share. Second, there could be a group of dominant firms (with a competitive fringe), and the dominant firms may occasionally engage in price wars. If this is true, prices should be lower in more concentrated markets during the price wars (Salinger, 1990). As the rooftop PV market continues to grow, market structure will remain a relevant policy issue in consideration of the potential for rooftop solar to contribute to de-carbonization efforts or other policy objectives. This paper adds to a growing emphasis on understanding supply-side factors in scaling up solar markets in the residential sector. Generally, solar markets have become more competitive over the same time period that solar technology costs decreased. While solar system hard costs have come down, our research suggests that total costs are more nuanced in early solar system TPO markets. Policymakers should consider these findings when designing markets, and have the data needed to make informed decisions.« less

48 CFR 1415.404-4 - Profit.

Code of Federal Regulations, 2010 CFR

2010-10-01

... CONTRACT TYPES CONTRACTING BY NEGOTIATION Contract Pricing 1415.404-4 Profit. (a) DOI's policy is to use a... also refer to the Armed Services Pricing Manual (ASPM No. 1). The “Other Costs” factor shall include...

Benford's Law and Why the Integers Are Not What We Think They Are: A Critical Numeracy of Benford's Law

ERIC Educational Resources Information Center

Stoessiger, Rex

2013-01-01

A critical numeracy examination of Benford's Law suggests that our understanding of the integers is faulty. We think of them as equally likely to turn up as the first digit of a random real world number. For many real world data sets this is not true. In many cases, ranging from eBay auction prices to six digit numbers in Google to the…

JPRS Report, China

DTIC Science & Technology

1987-12-31

inconsistent with Japan’s declared policy of opening up her markets. JPRS-CAR-87-061 31 December 1987 28 ECONOMIC 2. The "three lows "— low oil prices, the...intermediate- range warheads in Soviet Asia and the United States, respectively. But the United States and some Western European nations soon demanded...Union insisted on keeping 100 intermediate- range guided missiles in Asia while balking at the U.S. demand that it be allowed to deploy an equal

USSR Report, Consumer Goods and Domestic Trade, No. 77.

DTIC Science & Technology

1983-10-24

above all to the prices of clothing, knitwear and other products manufactured by consumer service enterprises on custom or- der for individuals. In...light of the fact that filling custom orders is more time- consuming , other things being equal, than large-scale industrial produc- tion of the same...340033 JPRS 84592 24 October 1983 USSR Report CONSUMER GOODS AND DOMESTIC TRADE No. 77 flätöltö FBIS FOREIGN BROADCAST INFORMATION SERVICE

Characteristics of Low-Priced Solar Photovoltaic Systems in the United States

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

Nemet, Gregory F.; O'Shaughnessy, Eric; Wiser, Ryan H.

2016-01-01

Despite impressive recent cost reductions, there is wide dispersion in the prices of installed solar photovoltaic (PV) systems. We identify the most important factors that make a system likely to be low priced (LP). Our sample consists of detailed characteristics for 42,611 small-scale (< 15 kW) PV systems installed in 15 U.S. states during 2013. Using four definitions of LP systems, we compare LP and non-LP systems and find statistically significant differences in nearly all factors explored, including competition, installer scale, markets, demographics, ownership, policy, and system components. Logit and probit model results robustly indicate that LP systems are associatedmore » with markets with few active installers; experienced installers; customer ownership; large systems; retrofits; and thin-film, low-efficiency, and Chinese modules. We also find significant differences across states, with LP systems much more likely to occur in some than in others. Our focus on the left tail of the price distribution provides implications for policy that are distinct from recent studies of mean prices. While those studies find that PV subsidies increase mean prices, we find that subsidies also generate LP systems. PV subsidies appear to simultaneously shift and broaden the price distribution. Much of this broadening occurs in a particular location, northern California, which is worthy of further investigation with new data.« less

An analysis of volumes, prices and pricing trends of the pediatric antiretroviral market in developing countries from 2004 to 2012.

PubMed

Lee, Janice Soo Fern; Sagaon Teyssier, Luis; Dongmo Nguimfack, Boniface; Collins, Intira Jeannie; Lallemant, Marc; Perriens, Joseph; Moatti, Jean-Paul

2016-03-15

The pediatric antiretroviral (ARV) market is poorly described in the literature, resulting in gaps in understanding treatment access. We analyzed the pediatric ARV market from 2004 to 2012 and assessed pricing trends and associated factors. Data on donor funded procurements of pediatric ARV formulations reported to the Global Price Reporting Mechanism database from 2004 to 2012 were analyzed. Outcomes of interest were the volume and mean price per patient-year ARV formulation based on WHO ARV dosing recommendations for a 10 kg child. Factors associated with the price of formulations were assessed using linear regression; potential predictors included: country income classification, geographical region, market segment (originator versus generic ARVs), and number of manufacturers per formulation. All analyses were adjusted for type of formulations (single, dual or triple fixed-dose combinations (FDCs)) Data from 111 countries from 2004 to 2012 were included, with procurement of 33 formulations at a total value of USD 204 million. Use of dual and triple FDC formulations increased substantially over time, but with limited changes in price. Upon multivariate analysis, prices of originator formulations were found to be on average 72 % higher than generics (p < 0.001). A 10 % increase in procurement volume was associated with a 1 % decrease (p < 0.001) in both originator and generic prices. The entry of one additional manufacturer producing a formulation was associated with a decrease in prices of 2 % (p < 0.001) and 8 % (p < 0.001) for originator and generic formulations, respectively. The mean generic ARV price did not differ by country income level. Prices of originator ARVs were 48 % (p < 0.001) and 14 % (p < 0.001) higher in upper-middle income and lower-middle income countries compared to low income countries respectively, with the exception of South Africa, which had lower prices despite being an upper-middle income country. The donor funded pediatric ARV market as represented by the GPRM database is small, and lacks price competition. It is dominated by generic drugs due to the lower prices offered and the practicality of FDC formulations. This market requires continued donor support and the current initiatives to protect it are important to ensure market viability, especially if new formulations are to be introduced in the future.

75 FR 35786 - White River Minimum Flows-Addendum to Final Determination of Federal and Non-Federal Hydropower...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-06-23

... to the energy prices it is using to value the Ozark Beach hydroelectric facility lost energy. This... the market price of energy is approximately $10 per MWh factored up to $12.50 per MWh for the loss of... energy prices to account for the lost RECs, and should increase this to $38.50 per MWh if the Federal...

Factors that Influence the Price of Al, Cd, Co, Cu, Fe, Ni, Pb, Rare Earth Elements, and Zn

USGS Publications Warehouse

Papp, John F.; Bray, E. Lee; Edelstein, Daniel L.; Fenton, Michael D.; Guberman, David E.; Hedrick, James B.; Jorgenson, John D.; Kuck, Peter H.; Shedd, Kim B.; Tolcin, Amy C.

2008-01-01

This report is based on a presentation delivered at The 12th International Battery Materials Recycling Seminar, March 17-20, 2008, Fort Lauderdale, Fla., about the factors that influence prices for aluminum, cadmium, cobalt, copper, iron, lead, nickel, rare earth elements, and zinc. These are a diverse group of metals that are of interest to the battery recycling industry. Because the U.S. Geological Survey (USGS) closely monitors, yet neither buys nor sells, metal commodities, it is an unbiased source of metal price information and analysis. The authors used information about these and other metals collected and published by the USGS (U.S. production, trade, stocks, and prices and world production) and internationally (consumption and stocks by country) from industry organizations, because metal markets are influenced by activities and events over the entire globe. Long-term prices in this report, represented by unit values, were adjusted to 1998 constant dollars to remove the effects of inflation. A previous USGS study in this subject area was 'Economic Drivers of Mineral Supply' by Lorie A. Wagner, Daniel E. Sullivan, and John L. Sznopek (USGS Open File Report 02-335). By seeking a common cause for common behavior of prices among the various metal commodities, the authors found that major factors that influence prices of metal commodities were international events such as wars and recessions, and national events such as the dissolution of the Soviet Union in 1991 and economic growth in China, which started its open door policy in the 1970s but did not have significant market impact until the 1990s. Metal commodity prices also responded to commodity-specific events such as tariff or usage changes or mine strikes. It is shown that the prices of aluminum, cadmium, copper, iron, lead, nickel, and zinc are at historic highs, that world stocks are at (or near) historic lows, and that China's consumption of these metals had increased substantially, making it the world's leading consumer of these metals.

Crude oil price analysis and forecasting based on variational mode decomposition and independent component analysis

NASA Astrophysics Data System (ADS)

E, Jianwei; Bao, Yanling; Ye, Jimin

2017-10-01

As one of the most vital energy resources in the world, crude oil plays a significant role in international economic market. The fluctuation of crude oil price has attracted academic and commercial attention. There exist many methods in forecasting the trend of crude oil price. However, traditional models failed in predicting accurately. Based on this, a hybrid method will be proposed in this paper, which combines variational mode decomposition (VMD), independent component analysis (ICA) and autoregressive integrated moving average (ARIMA), called VMD-ICA-ARIMA. The purpose of this study is to analyze the influence factors of crude oil price and predict the future crude oil price. Major steps can be concluded as follows: Firstly, applying the VMD model on the original signal (crude oil price), the modes function can be decomposed adaptively. Secondly, independent components are separated by the ICA, and how the independent components affect the crude oil price is analyzed. Finally, forecasting the price of crude oil price by the ARIMA model, the forecasting trend demonstrates that crude oil price declines periodically. Comparing with benchmark ARIMA and EEMD-ICA-ARIMA, VMD-ICA-ARIMA can forecast the crude oil price more accurately.

Trends in highway construction costs in Louisiana.

DOT National Transportation Integrated Search

1999-09-01

The objective of this research was to identify and quantify the factors that influence the price of highway construction in Louisiana. The method of investigation involved a literature review and an analysis of construction price records in Louisiana...

Value analysis for advanced technology products

NASA Astrophysics Data System (ADS)

Soulliere, Mark

2011-03-01

Technology by itself can be wondrous, but buyers of technology factor in the price they have to pay along with performance in their decisions. As a result, the ``best'' technology may not always win in the marketplace when ``good enough'' can be had at a lower price. Technology vendors often set pricing by ``cost plus margin,'' or by competitors' offerings. What if the product is new (or has yet to be invented)? Value pricing is a methodology to price products based on the value generated (e.g. money saved) by using one product vs. the next best technical alternative. Value analysis can often clarify what product attributes generate the most value. It can also assist in identifying market forces outside of the control of the technology vendor that also influence pricing. These principles are illustrated with examples.

Anchoring effect on first passage process in Taiwan financial market

NASA Astrophysics Data System (ADS)

Liu, Hsing; Liao, Chi-Yo; Ko, Jing-Yuan; Lih, Jiann-Shing

2017-07-01

Empirical analysis of the price fluctuations of financial markets has received extensive attention because a substantial amount of financial market data has been collected and because of advances in data-mining techniques. Price fluctuation trends can help investors to make informed trading decisions, but such decisions may also be affected by a psychological factors-the anchoring effect. This study explores the intraday price time series of Taiwan futures, and applies diffusion model and quantitative methods to analyze the relationship between the anchoring effect and price fluctuations during first passage process. Our results indicate that power-law scaling and anomalous diffusion for stock price fluctuations are related to the anchoring effect. Moreover, microscopic price fluctuations before switching point in first passage process correspond with long-term price fluctuations of Taiwan's stock market. We find that microscopic trends could provide useful information for understanding macroscopic trends in stock markets.

Differential pricing of new pharmaceuticals in lower income European countries.

PubMed

Kaló, Zoltán; Annemans, Lieven; Garrison, Louis P

2013-12-01

Pharmaceutical companies adjust the pricing strategy of innovative medicines to the imperatives of their major markets. The ability of payers to influence the ex-factory price of new drugs depends on country population size and income per capita, among other factors. Differential pricing based on Ramsey principles is a 'second-best' solution to correct the imperfections of the global market for innovative pharmaceuticals, and it is also consistent with standard norms of equity. This analysis summarizes the boundaries of differential pharmaceutical pricing for policymakers, payers and other stakeholders in lower-income countries, with special focus on Central-Eastern Europe, and describes the feasibility and implications of potential solutions to ensure lower pharmaceutical prices as compared to higher-income countries. European stakeholders, especially in Central-Eastern Europe and at the EU level, should understand the implications of increased transparency of pricing and should develop solutions to prevent the limited accessibility of new medicines in lower-income countries.

Modeling Philippine Stock Exchange Composite Index Using Time Series Analysis

NASA Astrophysics Data System (ADS)

Gayo, W. S.; Urrutia, J. D.; Temple, J. M. F.; Sandoval, J. R. D.; Sanglay, J. E. A.

2015-06-01

This study was conducted to develop a time series model of the Philippine Stock Exchange Composite Index and its volatility using the finite mixture of ARIMA model with conditional variance equations such as ARCH, GARCH, EG ARCH, TARCH and PARCH models. Also, the study aimed to find out the reason behind the behaviorof PSEi, that is, which of the economic variables - Consumer Price Index, crude oil price, foreign exchange rate, gold price, interest rate, money supply, price-earnings ratio, Producers’ Price Index and terms of trade - can be used in projecting future values of PSEi and this was examined using Granger Causality Test. The findings showed that the best time series model for Philippine Stock Exchange Composite index is ARIMA(1,1,5) - ARCH(1). Also, Consumer Price Index, crude oil price and foreign exchange rate are factors concluded to Granger cause Philippine Stock Exchange Composite Index.

Examining the short-run price elasticity of gasoline demand in the United States

NASA Astrophysics Data System (ADS)

Brannan, Michael James

Estimating the consumer demand response to changes in the price of gasoline has important implications regarding fuel tax policies and environmental concerns. There are reasons to believe that the short-run price elasticity of gasoline demand fluctuates due to changing structural and behavioral factors. In this paper I estimate the short-run price elasticity of gasoline demand in two time periods, from 2001 to 2006 and from 2007 to 2010. This study utilizes data at both the national and state levels to produce estimates. The short-run price elasticities range from -0.034 to -0.047 during 2001 to 2006, compared to -0.058 to -0.077 in the 2007 to 2010 period. This paper also examines whether there are regional differences in the short-run price elasticity of gasoline demand in the United States. However, there appears to only be modest variation in price elasticity values across regions.

Irrigation water policy analysis using a business simulation game

NASA Astrophysics Data System (ADS)

Buchholz, M.; Holst, G.; Musshoff, O.

2016-10-01

Despite numerous studies on farmers' responses to changing irrigation water policies, uncertainties remain about the potential of water pricing schemes and water quotas to reduce irrigation. Thus far, policy impact analysis is predominantly based upon rational choice models that assume behavioral assumptions, such as a perfectly rational profit-maximizing decision maker. Also, econometric techniques are applied which could lack internal validity due to uncontrolled field data. Furthermore, such techniques are not capable of identifying ill-designed policies prior to their implementation. With this in mind, we apply a business simulation game for ex ante policy impact analysis of irrigation water policies at the farm level. Our approach has the potential to reveal the policy-induced behavioral change of the participants in a controlled environment. To do so, we investigate how real farmers from Germany, in an economic experiment, respond to a water pricing scheme and a water quota intending to reduce irrigation. In the business simulation game, the participants manage a "virtual" cash-crop farm for which they make crop allocation and irrigation decisions during several production periods, while facing uncertain product prices and weather conditions. The results reveal that a water quota is able to reduce mean irrigation applications, while a water pricing scheme does not have an impact, even though both policies exhibit equal income effects for the farmers. However, both policies appear to increase the variation of irrigation applications. Compared to a perfectly rational profit-maximizing decision maker, the participants apply less irrigation on average, both when irrigation is not restricted and when a water pricing scheme applies. Moreover, the participants' risk attitude affects the irrigation decisions.

Nutrieconomic model can facilitate healthy and low-cost food choices.

PubMed

Primavesi, Laura; Caccavelli, Giovanna; Ciliberto, Alessandra; Pauze, Emmanuel

2015-04-01

Promotion of healthy eating can no longer be postponed as a priority, given the alarming growth rate of chronic degenerative diseases in Western countries. We elaborated a nutrieconomic model to assess and identify the most nutritious and affordable food choices. Seventy-one food items representing the main food categories were included and their nationally representative prices monitored. Food composition was determined using CRA-NUT (Centro di Ricerca per gli Alimenti e la Nutrizione) and IEO (Istituto Europeo di Oncologia) databases. To define food nutritional quality, the mean adequacy ratio and mean excess ratio were combined. Both prices and nutritional quality were normalised for the edible food content and for the recommended serving sizes for the Italian adult population. Stores located in different provinces throughout Italy. Not applicable. Cereals and legumes presented very similar nutritional qualities and prices per serving. Seasonal fruits and vegetables presented differentiated nutritional qualities and almost equal prices. Products of animal origin showed similar nutritional qualities and varied prices: the best nutrieconomic choices were milk, oily fish and poultry for the dairy products, fish and meat groups, respectively. Analysing two balanced weekly menus, our nutrieconomic model was able to note a significant decrease in cost of approximately 30 % by varying animal-protein sources without affecting nutritional quality. Healthy eating does not necessarily imply spending large amounts of money but rather being able to make nutritionally optimal choices. The nutrieconomic model is an innovative and practical way to help consumers make correct food choices and nutritionists increase the compliance of their patients.

Optimizing the Operation of Windfarms, Energy Storage and Flexible Loads in Modern Power Systems and Deregulated Electricity Markets

NASA Astrophysics Data System (ADS)

Dar, Zamiyad

The amount of wind energy in power systems is increasing at a significant rate. With this increased penetration, there are certain problems associated with the operation of windfarms which need careful attention. In the operations side, the wake effects of upstream wind turbines on downstream wind turbines can cause a reduction in the total generated power of a windfarm. On the market side, the fluctuation of real-time prices can make the operation of windfarms less profitable. Similarly, the intermittent nature of wind power prevents the windfarms from participating in the day-ahead and forward markets. On the system side, the volatile nature of wind speeds is also an obstacle for windfarms to provide frequency regulation to the system. In this thesis, we address these issues and optimize the operation of windfarms in power systems and deregulated electricity markets. First, the total power generation in a windfarm is maximized by using yaw angle of wind turbines as a control variable. We extend the existing wake models to include the effects of yaw misalignment and wake deflection of wind turbines. A numerical study is performed to find the optimal values of induction factor and yaw misalignment angle of wind turbines in a single row of a windfarm for achieving the maximum total power with wake effects. The numerical study shows that the maximum power is achieved by keeping the induction factor close to 1/3 and only changing the yaw angle to deflect the wake. We then propose a Dynamic Programming Framework (DPF) to maximize the total power production of a windfarm using yaw angle as the control variable. We compare the windfarm efficiency achieved with our DPF with the efficiency values obtained through greedy control strategy and induction factor optimization. We also extend our expressions to a windfarm with multiple rows and columns of turbines and perform simulations on the 3x3 and 4x4 grid topologies. Our results show that the optimal induction factor for most turbines is quite close to 1/3 and yaw angle acts as the dominant optimization variable. In the next part of this dissertation, a system comprising of a windfarm and energy storage operating in real-time electricity markets is studied. An Energy-balancing Threshold Price (ETP) policy is proposed to maximize the revenue of a windfarm with on-site storage. We propose and analyze a scheme for a windfarm to store or sell energy based on a threshold price. The threshold price is calculated based on long-term distributions of the electricity price and wind power generation processes, and is chosen so as to balance the energy flows in and out of the storage-equipped windfarm. It is also shown mathematically that the proposed policy is optimal in terms of the long-term revenue generated. Comparing it with the optimal policy that has knowledge of the future, we observe that the revenue obtained by the proposed ETP policy is approximately 90% of the maximum attainable revenue at a storage capacity of 10-15 times the power rating of the windfarm. The intermittent nature of wind power is a hindrance to the efficient participation of windfarms in the day-ahead and forward electricity markets. In this regard, a flexible forward contract is proposed in this dissertation which allows the windfarms to enter into a forward contract with flexible load with an option to deviate from the contracted amount of power. Using such a flexible contract would allow the windfarms to supply more or less than the contracted amount of power in case of unexpected wind conditions or real-time prices. We also propose models for forecasting wind power and real-time electricity prices. The comparison between the proposed contracting framework and a simple fixed contract (currently existing in the market) for different levels of flexibility and load shows that there is a net gain in windfarm revenues, if the transaction price of the two contracts are set equal. Lastly, we present and analyze distributed control schemes for frequency regulation in a smart grid using energy storage, wind generators, demand response and conventional generators while having no communication or data sharing between them. We also propose a novel control scheme for frequency support by energy storage in which the power output of energy storage changes proportionally with the reduction in its available energy. The application of the proposed control schemes indicates an improvement in system frequency characteristics, when there is a sudden net loss of generation.

Simulated Models Suggest That Price per Calorie Is the Dominant Price Metric That Low-Income Individuals Use for Food Decision Making123

PubMed Central

2016-01-01

Background: The price of food has long been considered one of the major factors that affects food choices. However, the price metric (e.g., the price of food per calorie or the price of food per gram) that individuals predominantly use when making food choices is unclear. Understanding which price metric is used is especially important for studying individuals with severe budget constraints because food price then becomes even more important in food choice. Objective: We assessed which price metric is used by low-income individuals in deciding what to eat. Methods: With the use of data from NHANES and the USDA Food and Nutrient Database for Dietary Studies, we created an agent-based model that simulated an environment representing the US population, wherein individuals were modeled as agents with a specific weight, age, and income. In our model, agents made dietary food choices while meeting their budget limits with the use of 1 of 3 different metrics for decision making: energy cost (price per calorie), unit price (price per gram), and serving price (price per serving). The food consumption patterns generated by our model were compared to 3 independent data sets. Results: The food choice behaviors observed in 2 of the data sets were found to be closest to the simulated dietary patterns generated by the price per calorie metric. The behaviors observed in the third data set were equidistant from the patterns generated by price per calorie and price per serving metrics, whereas results generated by the price per gram metric were further away. Conclusions: Our simulations suggest that dietary food choice based on price per calorie best matches actual consumption patterns and may therefore be the most salient price metric for low-income populations. PMID:27655757

Simulated Models Suggest That Price per Calorie Is the Dominant Price Metric That Low-Income Individuals Use for Food Decision Making.

PubMed

Beheshti, Rahmatollah; Igusa, Takeru; Jones-Smith, Jessica

2016-11-01

The price of food has long been considered one of the major factors that affects food choices. However, the price metric (e.g., the price of food per calorie or the price of food per gram) that individuals predominantly use when making food choices is unclear. Understanding which price metric is used is especially important for studying individuals with severe budget constraints because food price then becomes even more important in food choice. We assessed which price metric is used by low-income individuals in deciding what to eat. With the use of data from NHANES and the USDA Food and Nutrient Database for Dietary Studies, we created an agent-based model that simulated an environment representing the US population, wherein individuals were modeled as agents with a specific weight, age, and income. In our model, agents made dietary food choices while meeting their budget limits with the use of 1 of 3 different metrics for decision making: energy cost (price per calorie), unit price (price per gram), and serving price (price per serving). The food consumption patterns generated by our model were compared to 3 independent data sets. The food choice behaviors observed in 2 of the data sets were found to be closest to the simulated dietary patterns generated by the price per calorie metric. The behaviors observed in the third data set were equidistant from the patterns generated by price per calorie and price per serving metrics, whereas results generated by the price per gram metric were further away. Our simulations suggest that dietary food choice based on price per calorie best matches actual consumption patterns and may therefore be the most salient price metric for low-income populations. © 2016 American Society for Nutrition.

Factors associated with age at slaughter and carcass weight, price, and value of dairy cull cows.

PubMed

Bazzoli, I; De Marchi, M; Cecchinato, A; Berry, D P; Bittante, G

2014-02-01

The sale of cull cows contributes to the overall profit of dairy herds. The objective of this study was to quantify the factors associated with slaughter age (mo), cow carcass weight (kg), price (€/kg of carcass weight), and value (€/head) of dairy cull cows. Data included 20,995 slaughter records in the period from 2003 to 2011 of 5 different breeds: 2 dairy [Holstein Friesian (HF) and Brown Swiss (BS)] and 3 dual-purpose [Simmental (Si), Alpine Grey (AG), and Rendena (Re)]. Associations of breed, age of cow (except when the dependent variable was slaughter age), and year and month of slaughter with slaughter age, carcass weight, price, and value were quantified using a mixed linear model; herd was included as a random effect. The seasonal trends in cow price and value traits were inversely related to the number of cows slaughtered, whereas annual variation in external factors affected market conditions. Relative to BS cows, HF cows were younger at slaughter (73.1 vs. 80.7 mo), yielded slightly lighter carcasses (242 vs. 246 kg), and received a slightly lower price (1.69 vs. 1.73 €/kg) and total value (394 vs. 417 €/head). Dual-purpose breeds were older and heavier and received a much greater price and total value at slaughter (521, 516, and 549 €/head, respectively for Si, Re, and AG) than either dairy breed. Of the dual-purpose cows, Si carcasses were heavier (271 kg), whereas the carcasses of local breeds received a higher price (2.05 and 2.18 €/kg for Re and AG, respectively) and Alpine Grey cows were the oldest at slaughter (93.3 mo). The price per kilogram of cull cow carcasses was greatest for very young cows (i.e., <3 yr of age) and the differential in price and value between younger and older cows was greater in dual-purpose than in dairy breeds. Large differences in cull cow whole carcass value (carcass weight × unit price) among dairy breeds suggest that such a trait could be considered in the breeding objectives of the breeds. Copyright © 2014 American Dairy Science Association. Published by Elsevier Inc. All rights reserved.

Pricing of new vaccines

PubMed Central

McGlone, Sarah M

2010-01-01

New vaccine pricing is a complicated process that could have substantial long-standing scientific, medical and public health ramifications. Pricing can have a considerable impact on new vaccine adoption and, thereby, either culminate or thwart years of research and development and public health efforts. Typically, pricing strategy consists of the following eleven components: (1) Conduct a target population analysis; (2) Map potential competitors and alternatives; (3) Construct a vaccine target product profile (TPP) and compare it to projected or actual TPPs of competing vaccines; (4) Quantify the incremental value of the new vaccine's characteristics; (5) Determine vaccine positioning in the marketplace; (6) Estimate the vaccine price-demand curve; (7) Calculate vaccine costs (including those of manufacturing, distribution, and research and development); (8) Account for various legal, regulatory, third party payer and competitor factors; (9) Consider the overall product portfolio; (10) Set pricing objectives; (11) Select pricing and pricing structure. While the biomedical literature contains some studies that have addressed these components, there is still considerable room for more extensive evaluation of this important area. PMID:20861678

Pricing of new vaccines.

PubMed

Lee, Bruce Y; McGlone, Sarah M

2010-08-01

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

Can price get the monkey off our back? A meta-analysis of illicit drug demand.

PubMed

Gallet, Craig A

2014-01-01

Because of the increased availability of price data over the past 15 years, several studies have estimated the demand for illicit drugs, providing 462 estimates of the price elasticity. Results from estimating several meta-regressions reveal that these price elasticity estimates are influenced by a number of study characteristics. For instance, the price elasticity differs across drugs, with its absolute value being smallest for marijuana, compared with cocaine and heroin. Furthermore, price elasticity estimates are sensitive to whether demand is modeled in the short-run or the long-run, measures of quantity and price, whether or not alcohol and other illicit drugs are included in the specification of demand, and the location of demand. However, a number of other factors, including the functional form of demand, several specification issues, the type of data and method used to estimate demand, and the quality of the publication outlet, have less influence on the price elasticity. Copyright © 2013 John Wiley & Sons, Ltd.

Utility Green-Pricing Programs: What Defines Success? (Topical Issues Brief)

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

Swezey, B.; Bird, L.

2001-09-13

''Green pricing'' is an optional service through which customers can support a greater level of investment by their electric utility in renewable energy technologies. Electric utilities in 29 states are now implementing green-pricing programs. This report examines important elements of green-pricing programs, including the different types of programs offered, the premiums charged, customer response, and additional factors that experience indicates are key to the development of successful programs. The best-performing programs tend to share a number of common attributes related to product design, value creation, product pricing, and program implementation. The report ends with a list of ''best practices'' formore » utilities to follow when developing and implementing programs.« less

Spatial and Social Media Data Analytics of Housing Prices in Shenzhen, China.

PubMed

Wu, Chao; Ye, Xinyue; Ren, Fu; Wan, You; Ning, Pengfei; Du, Qingyun

2016-01-01

Housing is among the most pressing issues in urban China and has received considerable scholarly attention. Researchers have primarily concentrated on identifying the factors that influence residential property prices and how such mechanisms function. However, few studies have examined the potential factors that influence housing prices from a big data perspective. In this article, we use a big data perspective to determine the willingness of buyers to pay for various factors. The opinions and geographical preferences of individuals for places can be represented by visit frequencies given different motivations. Check-in data from the social media platform Sina Visitor System is used in this article. Here, we use kernel density estimation (KDE) to analyse the spatial patterns of check-in spots (or places of interest, POIs) and employ the Getis-Ord [Formula: see text] method to identify the hot spots for different types of POIs in Shenzhen, China. New indexes are then proposed based on the hot-spot results as measured by check-in data to analyse the effects of these locations on housing prices. This modelling is performed using the hedonic price method (HPM) and the geographically weighted regression (GWR) method. The results show that the degree of clustering of POIs has a significant influence on housing values. Meanwhile, the GWR method has a better interpretive capacity than does the HPM because of the former method's ability to capture spatial heterogeneity. This article integrates big social media data to expand the scope (new study content) and depth (study scale) of housing price research to an unprecedented degree.

Spatial and Social Media Data Analytics of Housing Prices in Shenzhen, China

PubMed Central

Ye, Xinyue; Ren, Fu; Wan, You; Ning, Pengfei; Du, Qingyun

2016-01-01

Housing is among the most pressing issues in urban China and has received considerable scholarly attention. Researchers have primarily concentrated on identifying the factors that influence residential property prices and how such mechanisms function. However, few studies have examined the potential factors that influence housing prices from a big data perspective. In this article, we use a big data perspective to determine the willingness of buyers to pay for various factors. The opinions and geographical preferences of individuals for places can be represented by visit frequencies given different motivations. Check-in data from the social media platform Sina Visitor System is used in this article. Here, we use kernel density estimation (KDE) to analyse the spatial patterns of check-in spots (or places of interest, POIs) and employ the Getis-Ord Gi* method to identify the hot spots for different types of POIs in Shenzhen, China. New indexes are then proposed based on the hot-spot results as measured by check-in data to analyse the effects of these locations on housing prices. This modelling is performed using the hedonic price method (HPM) and the geographically weighted regression (GWR) method. The results show that the degree of clustering of POIs has a significant influence on housing values. Meanwhile, the GWR method has a better interpretive capacity than does the HPM because of the former method’s ability to capture spatial heterogeneity. This article integrates big social media data to expand the scope (new study content) and depth (study scale) of housing price research to an unprecedented degree. PMID:27783645

The effect of proportional v. value pricing on fountain drink purchases: results from a field experiment.

PubMed

Gollust, Sarah E; Tang, Xuyang; Runge, Carlisle Ford; French, Simone A; Rothman, Alexander J

2018-05-15

Reducing sugar-sweetened beverage consumption is a public health priority, yet finding an effective and acceptable policy intervention is challenging. One strategy is to use proportional pricing (a consistent price per fluid ounce) instead of the typical value-priced approach where large beverages offer better value. The purpose of the present study was to evaluate whether proportional pricing affects the purchasing of fountain beverages at a university cinema concession stand. Four price strategies for beverages were evaluated over ten weekends of film screenings. We manipulated two factors: the price structure (value pricing v. proportional pricing) and the provision of information about the price per fluid ounce (labels v. no labels). The key outcomes were the number and size of beverages purchased. We analysed data using regression analyses, with standard errors clustered by film and controlling for the day and time of purchase. A university cinema concession stand in Minnesota, USA, in spring 2015. University students. Over the study period (360 beverages purchased) there were no significant effects of the proportional pricing treatment. Pairing a label with the standard value pricing increased the likelihood of purchasing large drinks but the label did not affect purchasing when paired with proportional pricing. Proportional prices did not significantly affect the size of beverages purchased by students at a university cinema, but adding a price-per-ounce label increased large drink purchases when drinks were value-priced. More work is needed to address whether pricing and labelling strategies might promote healthier beverage purchases.

Autonomy, special offers and routines: a Q methodological study of industry-driven marketing influences on young people's drinking behaviour.

PubMed

Scott, Stephanie; Baker, Rachel; Shucksmith, Janet; Kaner, Eileen

2014-11-01

To identify shared patterns of views in young people relating to the influence of industry-driven alcohol marketing (price, promotion, product and place of purchase/consumption) on their reported drinking behaviour. Q methodology harnessed qualitative and quantitative data to generate distinct clusters of opinions as follows: 39 opinion statements were derived from earlier in-depth qualitative interviews with 31 young people; by-person factor analysis was carried out on 28 participants' (six previous interviewees and 22 new recruits) rank orderings of these statements (most-to-least agreement); interpretation of the factor arrays was aided by 10-15-minute debriefing interviews held immediately following each Q-sort. Northeast England Young people aged 14-17 years purposively recruited from high schools, higher education colleges, youth centres and youth offending teams. Centroid factor extraction and varimax rotation of factors generated three distinct accounts: factor one ('autonomous, sophisticated consumers') illustrated a self-defined sense of individuality and autonomy in alcohol choices; factor two ('price-driven consumers') appeared price-led, choosing to drink what was most accessible or cheapest; and factor three ('context-focused consumers') described drinking practices where products were chosen to serve specific functions such as being easy to carry while dancing. Considering young people's views on alcohol marketing, different perspectives can be identified. These include perceived imperviousness to maketing, responsiveness to price and affordability and responsiveness to marketing focusing on youth lifestyles. © 2014 The Authors. Addiction published by John Wiley & Sons Ltd on behalf of Society for the Study of Addiction.

Price discrimination in essential medicines: evidence from International Drug Price Indicator Guide data.

PubMed

Hanlon, Michael; Zhang, Raymond

2013-03-01

Few data are available on what donors, governments and other implementing organisations pay for the medicines they procure. To partly address this shortcoming, we analyse transactions of pharmaceuticals on the WHO's essential medicines list. Our objective was to identify the determinants of prices paid for these drugs. We used data from the 2008 version of the International Drug Price Indicator Guide. We normalised transactions by representing their value as a 'price per daily dose'. We used a mixed-effects regression model to quantify the impact of observable characteristics on prices paid. We present evidence of first-degree price discrimination in the market for essential medicines. We find that as a country's per capita wealth doubles, prices paid for the same pharmaceutical increase by 33%. These data indicate that purchasing agents from wealthier countries pay more for essential medicines, all factors constant. This behaviour is not a form of development assistance for health but rather is indicative of inefficient markets in which buyers' lack of information enables suppliers to charge higher prices than they could otherwise.

Textbook Factor Demand Curves.

ERIC Educational Resources Information Center

Davis, Joe C.

1994-01-01

Maintains that teachers and textbook graphics follow the same basic pattern in illustrating changes in demand curves when product prices increase. Asserts that the use of computer graphics will enable teachers to be more precise in their graphic presentation of price elasticity. (CFR)

Cost and Price Increases in Higher Education: Evidence of a Cost Disease on Higher Education Costs and Tuition Prices and the Implications for Higher Education Policy

ERIC Educational Resources Information Center

Trombella, Jerry

2011-01-01

As concern over rapidly rising college costs and tuition sticker prices have increased, a variety of research has been conducted to determine potential causes. Most of this research has focused on factors unique to higher education. In contrast, cost disease theory attempts to create a comparative context to explain cost increases in higher…

Essays on microgrids, asymmetric pricing and market power in electricity markets

NASA Astrophysics Data System (ADS)

Lo Prete, Chiara

This dissertation presents four studies of the electricity industry. The first and second essays use economic-engineering models to assess different aspects of microgrid penetration in regional electricity markets, while the last two studies contain empirical analyses aimed at evaluating the performance of wholesale electricity markets. Chapter 2 develops a framework to quantify economic, environmental, efficiency and reliability impacts of different power production scenarios in a regional system, focusing on the interaction of microgrids with the existing transmission and distribution grid. The setting is the regional network formed by Belgium, France, Germany and the Netherlands. The study presents simulations of power market outcomes under various policies and levels of microgrid penetration, and evaluates them using a diverse set of metrics. Chapter 3 studies the interaction between a microgrid and a regulated electric utility in a regional electricity market. I consider the interaction among the utility, the microgrid developer and consumers in the framework of cooperative game theory (assuming exchangeable utility), and use regional market models to simulate scenarios in which microgrid introduction may or may not be socially beneficial. Under the assumptions of this chapter, customer participation is essential to the development of socially beneficial microgrids, while the utility has little or no gain from it. Discussed incentives to avoid that utilities block microgrid entry include additional revenue drivers related to microgrid connection, decoupling and performance-based mechanisms targeted at service quality. When prices are below marginal costs of utility provided power, microgrid development may be socially beneficial, but unprofitable for microgrid customers and its developer. By imposing lower charges and higher remuneration for its services, the regulator could ensure that microgrid value is positive, without adversely impacting the utility. Chapter 4 examines the possibility of asymmetric transmission of CO 2 and fuel prices to electricity futures prices in the second phase of the European Emission Trading Scheme. The goal is to assess whether output prices tend to respond more quickly to input price increases than decreases: this phenomenon is known as "rockets and feathers" in the literature. Results do not provide empirical evidence of statistically significant differences in the response of power prices to positive and negative shocks in CO 2 allowance and fuel markets. Chapter 5 re-examines the issue of the potential exercise of market power in California after liberalization, with a focus on its day-ahead energy market (the former PX) and its five largest thermal generators. The analysis focuses on a peak hour of operation (hour 18) and disregards hours in which congestion occurred. First, I define a direct measure of unilateral market power for each firm, equal to the hourly inverse elasticity of its residual demand function. The second part of the analysis aims at assessing whether the necessary conditions for the unilateral exercise of market power were satisfied in practice, based on a comparison of PX market-clearing prices, estimated marginal revenues and estimated bounds for the marginal costs of generation of each supplier. By conservatively assuming that the estimated upper bound is close to each firm's actual marginal cost of generation, the analysis suggests that in a large fraction of hours the thermal generators were acting less competitively that what implied by unilateral profit maximization. If instead I explicitly account for uncertainty in the marginal cost estimates with the introduction of a +/-10% margin on the estimated bounds, thermal generators are equally likely to bid close to their marginal costs or above them. Among the hours characterized by market-clearing prices above marginal costs, 64% present, on average, evidence of less competitive than Nash behavior. Two possible explanations for the observed restrained quantities, relative to the Nash level, include firms' coordinating efforts to raise prices on the day-ahead market and a Cournot game among the thermal generators, since the Cournot equilibrium represents an upper bound on supply function equilibria. (Abstract shortened by UMI.)

Preference reversal in quantum decision theory.

PubMed

Yukalov, Vyacheslav I; Sornette, Didier

2015-01-01

We consider the psychological effect of preference reversal and show that it finds a natural explanation in the frame of quantum decision theory. When people choose between lotteries with non-negative payoffs, they prefer a more certain lottery because of uncertainty aversion. But when people evaluate lottery prices, e.g., for selling to others the right to play them, they do this more rationally, being less subject to behavioral biases. This difference can be explained by the presence of the attraction factors entering the expression of quantum probabilities. Only the existence of attraction factors can explain why, considering two lotteries with close utility factors, a decision maker prefers one of them when choosing, but evaluates higher the other one when pricing. We derive a general quantitative criterion for the preference reversal to occur that relates the utilities of the two lotteries to the attraction factors under choosing vs. pricing and test successfully its application on experiments by Tversky et al. We also show that the planning paradox can be treated as a kind of preference reversal.

How Preservice Teachers Think about Cultural Diversity: A Closer Look at Factors Which Influence Their Beliefs towards Equality.

ERIC Educational Resources Information Center

Smith, Robert; Moallem, Mahnaz; Sherrill, Deborah

1997-01-01

This study used preservice teachers' autobiographical essays to explore their beliefs about race, class, and gender. Findings indicated that, although some students were taught equality and still held views of equality, four factors helped initiate change in their beliefs toward greater equality (education, travel, experience with discrimination,…

Country and regional variations in purchase prices for essential cancer medications.

PubMed

Cuomo, Raphael E; Seidman, Robert L; Mackey, Tim K

2017-08-24

Accessibility to essential cancer medications in low- and middle-income countries is threatened by insufficient availability and affordability. The objective of this study is to characterize variation in transactional prices for essential cancer medications across geographies, medication type, and time. Drug purchase prices for 19 national and international buyers (representing 29 total countries) between 2010 and 2014 were obtained from Management Sciences for Health. Median values for drug pricing were computed, to address outliers in the data. For comparing purchase prices across geographic units, medications, and over time; Mann-Whitney U tests were used to compare two groups, Kruskal Wallis H tests were used to compare more than two groups, and linear regression was used to compare across continuous independent variables. During the five-year data period examined, the median price paid for a package of essential cancer medication was $12.63. No significant differences in prices were found based on country-level wealth, country-level disease burden, drug formulation, or year when medication was purchased. Statistical tests found significant differences in prices paid across countries, regions, individual medications, and medication categories. Specifically, countries in the Africa region appeared to pay more for a package of essential cancer medication than countries in the Latin America region, and cancer medications tended to be more expensive than anti-infective medications and cardiovascular medications. Though preliminary, our study found evidence of variation in prices paid by health systems to acquire essential cancer medications. Primarily, variations in pricing based on geographic location and cancer medication type (including when comparing to essential medicines that treat cardiovascular and infectious diseases) indicate that these factors may impact availability, affordability and access to essential cancer drugs. These factors should be taken into consideration when countries assess formulary decisions, negotiate drug procurement terms, and when formulating health and cancer policy.

The price of a drink: the potential of alcohol minimum unit pricing as a public health measure in the UK.

PubMed

Rice, Peter; Drummond, Colin

2012-09-01

The UK has seen a dramatic increase in alcohol consumption and alcohol-related harm over the past 30 years. Alcohol taxation has long been considered a key method of controlling alcohol-related harm but a combination of factors has recently led to consideration of methods which affect the price of the cheapest alcohol as a means of improved targeting of alcohol control measures to curb the consumption of the heaviest drinkers. Although much of the evidence in favour of setting a minimum price of a unit of alcohol is based on complex econometric models rather than empirical data, all jurisdictions within the UK now intend to make selling alcohol below a set price illegal, which will provide a naturalistic experiment allowing assessment of the impact of minimum pricing.

Physical approach to price momentum and its application to momentum strategy

NASA Astrophysics Data System (ADS)

Choi, Jaehyung

2014-12-01

We introduce various quantitative and mathematical definitions for price momentum of financial instruments. The price momentum is quantified with velocity and mass concepts originated from the momentum in physics. By using the physical momentum of price as a selection criterion, the weekly contrarian strategies are implemented in South Korea KOSPI 200 and US S&P 500 universes. The alternative strategies constructed by the physical momentum achieve the better expected returns and reward-risk measures than those of the traditional contrarian strategy in weekly scale. The portfolio performance is not understood by the Fama-French three-factor model.

Barriers to Household Risk Management: Evidence from India.

PubMed

Cole, Shawn; Giné, Xavier; Tobacman, Jeremy; Townsend, Robert; Topalova, Petia; Vickery, James

2013-01-01

Why do many households remain exposed to large exogenous sources of non-systematic income risk? We use a series of randomized field experiments in rural India to test the importance of price and non-price factors in the adoption of an innovative rainfall insurance product. Demand is significantly price sensitive, but widespread take-up would not be achieved even if the product offered a payout ratio comparable to U.S. insurance contracts. We present evidence suggesting that lack of trust, liquidity constraints and limited salience are significant non-price frictions that constrain demand. We suggest contract design improvements to mitigate these frictions.

The impact of taxation on tobacco consumption in Mexico.

PubMed

Jiménez-Ruiz, J A; Sáenz de Miera, B; Reynales-Shigematsu, L M; Waters, H R; Hernández-Avila, M

2008-04-01

The price of cigarettes to consumers in Mexico, and Latin America in general, remains low in comparison with other regions of the world. In Mexico, taxes represented 59% of the total price of cigarettes in 2006, compared to 75% or more in many high-income countries. The feasibility of raising taxes on cigarettes in Mexico--to both discourage consumption and increase revenues--is an important policy question. Using household survey data, we undertake a pooled cross-sectional analysis of the demand for cigarettes in Mexico. We use a two-part model to estimate the price elasticity of cigarettes. This model controls for the selection effect that arises from the fact that the impact of price on the decision to smoke or not is estimated using all households in the dataset. The results indicate that price is a significant factor in household decisions concerning smoking and the number of cigarettes smoked. Holding other factors constant, our simulations show that a 10% increase in the cigarette tax in Mexico--calculated as a percentage of the price--yields a 12.4% increase in the price to the consumer, a 6.4% decrease in consumption of cigarettes and a 15.7% increase in the revenue yielded by the tax. In Mexico, there are strong arguments for increasing cigarette taxes. Revenue raised could be used to further prevent tobacco consumption and to finance current funding shortages for the treatment of diseases related to smoking.

Pricing behaviour of pharmacies after market deregulation for OTC drugs: the case of Germany.

PubMed

Stargardt, Tom; Schreyögg, Jonas; Busse, Reinhard

2007-11-01

To examine the price reactions of German pharmacies to changes made to OTC drug regulations in 2004. Prior to these changes, regulations guaranteed identical prices in all German pharmacies. Two years after market deregulation, 256 pharmacies were surveyed to determine the retail prices of five selected OTC drugs. A probit regression model was used to identify factors that increased the likelihood of price changes. In addition, 409 pharmacy consumers were interviewed to gather information on their knowledge of the regulatory changes and to better explain consumer behaviour. Data was collected on a total of 1215 prices. Two years after deregulation, 23.1% of the participating pharmacies had modified the price of at least one of the five OTCs included in our study. However, in total, only 7.5% of the prices differed from their pre-deregulation level. The probit model showed that population density and the geographic concentration of pharmacies were significantly associated with price changes. Interestingly, the association with the geographic concentration of pharmacies was negative. The consumer survey revealed that 47.1% of those interviewed were aware of the deregulation. Our findings indicate that, two years after deregulation, very few pharmacies had made use of individual pricing strategies; price competition between pharmacies in Germany is thus taking place only a very small scale.

Higher prices, higher quality? Evidence from German nursing homes.

PubMed

Herr, Annika; Hottenrott, Hanna

2016-02-01

This study investigates the relationship between prices and quality of 7400 German nursing homes. We use a cross section of public quality reports for all German nursing homes, which had been evaluated between 2010 and 2013 by external institutions. Our analysis is based on multivariate regressions in a two stage least squares framework, where we instrument prices to explain their effect on quality controlling for income, nursing home density, demographics, labour market characteristics, and infrastructure at the regional level. Descriptive analysis shows that prices and quality do not only vary across nursing homes, but also across counties and federal states and that quality and prices correlate positively. Second, the econometric analysis, which accounts for the endogenous relation between negotiated price and reported quality, shows that quality indeed positively depends on prices. In addition, more places in nursing homes per people in need are correlated with both lower prices and higher quality. Finally, unobserved factors at the federal state level capture some of the variation of reported quality across nursing homes. Our results suggest that higher prices increase quality. Furthermore, since reported quality and prices vary substantially across federal states, we conclude that the quality and prices of long-term care facilities may well be compared within federal states but not across. Copyright © 2016 Elsevier Ireland Ltd. All rights reserved.

The behaviour of purchasing smuggled cigarettes in Taiwan.

PubMed

Tsai, Y-W; Sung, H-Y; Yang, C-L; Shih, S-F

2003-03-01

Since market liberalization in 1987, the Taiwan Tobacco and Wine Monopoly Bureau (TTWMB) annual statistics indicate that both the demand for imported cigarettes as well as the number of seized smuggled packs have increased with an average revenue loss of NT dollars 4942 million over the past 15 years. The NT dollars 10 average increase in cigarette prices after Taiwan entered the World Trade Organization (WTO) and the implementation of the Tobacco and Alcohol Tax Law in 2002 are forcing policy makers to examine smuggling even more closely. This study evaluates factors that affect an individual smoker's decision to purchase smuggled cigarettes, particularly when faced with higher prices. 437 male smokers of imported cigarettes were drawn from a national interview survey on cigarette consumption, which the Division of Health Policy Research at the National Health Research Institutes conducted during the year 2000. Multiple logistic regression models were used to analyse the behaviour of purchasing smuggled cigarettes with respect to demographic factors, economic factors, smoking behaviour, and other variables. Cigarette price was the driving factor most closely linked to the purchase of smuggled cigarettes--a 1% increase in cigarette price raised the likelihood of purchasing smuggled cigarettes at least 2.60 times (95% confidence interval (CI) 1.08 to 6.26). Smokers who spent more than NT 1000/month dollars on cigarettes were twice as likely to purchase smuggled cigarettes as those who spent less than NT 1000 dollars (odds ratio (OR) 2.34, 95% CI 1.48 to 3.70). Betel nut chewers were more likely to purchase smuggled cigarettes (OR 1.80, 95% CI 1.09 to 2.90). Smokers who opposed cigarette taxation policy were 1.69 times more likely to buy smuggled cigarettes. Personal income was not significantly associated with smuggled cigarettes purchases. This study evaluates what causes smokers to purchase smuggled cigarettes. We have determined that cigarette price is the most important factor and that betel nut vendors are the main suppliers. Our study provides policy makers with information that can help them develop effective strategies to curb cigarette smuggling after Taiwan's recent cigarette tax reform, which has increased cigarette prices.

Induced innovation, energy prices, and the environment

NASA Astrophysics Data System (ADS)

Popp, David Clifford

The process of developing new technologies is a central question for economic theory as well as for public policy in many areas. For example, the development of cleaner, more efficient energy technologies will play an important role in reducing the threat of global warming. To study how technology evolves over time, this dissertation uses patent data on energy innovations from 1970 to 1991 to examine the impact of energy prices on energy-efficient innovations. Before this can be done, however, information on supply-side factors which influence innovation is also needed. In the case of innovation, supply-side factors are the usefulness of the existing base of scientific knowledge. Patent citations are used for this purpose. Subsequent citations to patents granted each year since 1970 are used to show that the returns to research and development (R&D) fall over time for most of the technologies studied. These estimates are then combined with data on demand-side factors, such as energy prices, to estimate a model of induced innovation in energy technologies. Both energy prices and the supply of knowledge are found to have strongly significant positive effects on innovation. Next, the Yale Technology Concordance (YTC), which maps patents to the industries in which they are used, is employed to construct a stock of energy-related knowledge for 14 energy intensive industries. The effect of changes in this stock on energy consumption in these industries is estimated. On average, the present value of energy savings resulting from a new patent is eight million dollars, with the maximum savings coming about five years after the initial patent application. Finally, the results of each regression are combined to simulate the impact of a ten percent energy tax. Initially, simple factor substitution due to the price change has the largest effect. However, because of the cumulative nature of R&D, induced innovation has a much larger effect than factor substitution in the long run. The evidence in this dissertation suggests that prices play an important role in influencing technological change, and that policy-makers can use this to their advantage in designing appropriate environmental policies.

Pricing unit-linked insurance with guaranteed benefit

NASA Astrophysics Data System (ADS)

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

2017-07-01

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

North Sea Emerald crude oil assayed

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

Rhodes, A.K.

1991-09-16

This book reports on an analysis of crude from Emerald field, 70 miles east of the Shetland Islands in the British North Sea, which shows that the crude is much heavier than typical North Sea crude. Elements of the long- delayed project appear to be in place, but production has not yet begun. Plans calls for producing the field at a rate of 30,000-40,000 b/d from a floating storage unit. Sovereign Oil and Gas plc has completed and fully tested seven production wells and four injectors in the marginal Emerald oil field. All flow lines are in place and themore » floating storage unit is ready to be installed. Production from Emerald will be sold to Neste Oy of Finland, at a minimum price of $17.90/bbl for Sullom Voe. Increases in spot prices above that level will be shared equally by the owners and purchaser.« less

The indirect costs of ankylosing spondylitis: a systematic review and meta-analysis.

PubMed

Malinowski, Krzysztof Piotr; Kawalec, Paweł

2015-04-01

The aim of this systematic review was to collect and summarize all current data on the indirect costs related to absenteeism and presenteeism associated with ankylosing spondylitis. The search was conducted using Medline, Embase and Centre for Reviews and Dissemination databases. All collected costs were recalculated to average annual cost per patient, expressed in 2013 prices USD using the consumer price index and purchasing power parity. Identified studies were then analyzed to assess their possible inclusion in the meta-analysis. We identified 32 records. The average annual indirect cost per patient varies among all the identified results from US$660.95 to 45,953.87. The mean annual indirect per patient equals US$6454.76. This systematic review summarizes current data related to indirect costs generated by ankylosing spondylitis; it revealed the great economic burden of the disease for society. We observed a great variety of the considered components of indirect costs and their definitions.

Agent Based Model of Livestock Movements

NASA Astrophysics Data System (ADS)

Miron, D. J.; Emelyanova, I. V.; Donald, G. E.; Garner, G. M.

The modelling of livestock movements within Australia is of national importance for the purposes of the management and control of exotic disease spread, infrastructure development and the economic forecasting of livestock markets. In this paper an agent based model for the forecasting of livestock movements is presented. This models livestock movements from farm to farm through a saleyard. The decision of farmers to sell or buy cattle is often complex and involves many factors such as climate forecast, commodity prices, the type of farm enterprise, the number of animals available and associated off-shore effects. In this model the farm agent's intelligence is implemented using a fuzzy decision tree that utilises two of these factors. These two factors are the livestock price fetched at the last sale and the number of stock on the farm. On each iteration of the model farms choose either to buy, sell or abstain from the market thus creating an artificial supply and demand. The buyers and sellers then congregate at the saleyard where livestock are auctioned using a second price sealed bid. The price time series output by the model exhibits properties similar to those found in real livestock markets.

Summer 2006 Motor Gasoline Prices (Short-Term Energy Outlook Supplement July 2006)

EIA Publications

2006-01-01

This supplement to the July 2006 Short-Term Energy Outlook (STEO) examines the various factors that have contributed to this summer's high gasoline prices and discusses how they may continue to impact markets over the next several months.

Pharmaceutical strategic purchasing requirements in Iran: Price interventions and the related effective factors.

PubMed

Bastani, Peivand; Dinarvand, Rasoul; SamadBeik, Mahnaz; Pourmohammadi, Kimia

2016-01-01

Pharmaceutical access for the poor is an essential factor in developing countries that can be improved through strategic purchasing. This study was conducted to identify the elements affecting price in order to enable insurance organizations to put strategic purchasing into practice. This was a qualitative study conducted through content analysis with an inductive approach applying a five-stage framework analysis (familiarization, identifying a thematic framework, indexing, mapping, and interpretation). Data analysis was started right after transcribing each interview applying ATLAS.ti. Data were saturated after 32 semi-structured interviews by experts. These key informants were selected purposefully and through snowball sampling. Findings showed that there are four main themes as Pharmaceutical Strategic Purchasing Requirements in Iran as follows essential and structural factors, international factors, economical factors, and legal factors. Moreover, totally 14 related sub-themes were extracted in this area as the main effective variables. It seems that paying adequate attention to the four present themes and 14 sub-themes affecting price can enable health system policy-makers of developing countries like Iran to make the best decisions through strategic purchasing of drugs by the main insurers in order to improve access and health in the country.

The growing disconnect between food prices and wages in Europe: cross-national analysis of food deprivation and welfare regimes in twenty-one EU countries, 2004-2012.

PubMed

Reeves, Aaron; Loopstra, Rachel; Stuckler, David

2017-06-01

Food insecurity has been rising across Europe following the Great Recession, but to varying degrees across countries and over time. The reasons for this increase are not well understood, nor are what factors might protect people's access to food. Here we test the hypothesis that an emerging gap between food prices and wages can explain increases in reported inability to afford protein-rich foods and whether welfare regimes can mitigate its impact. We collected data in twenty-one countries from 2004 to 2012 using two databases: (i) on food prices and deprivation related to food (denoted by reported inability to afford to eat meat, chicken, fish or a vegetarian equivalent every second day) from EuroStat 2015 edition; and (ii) on wages from the Organisation for Economic Co-operation and Development 2015 edition. After adjusting for macroeconomic factors, we found that each 1 % rise in the price of food over and above wages was associated with greater self-reported food deprivation (β=0·060, 95 % CI 0·030, 0·090), particularly among impoverished groups. However, this association also varied across welfare regimes. In Eastern European welfare regimes, a 1 % rise in the price of food over wages was associated with a 0·076 percentage point rise in food deprivation (95 % CI 0·047, 0·105) while in Social Democratic welfare regimes we found no clear association (P=0·864). Rising prices of food coupled with stagnating wages are a major factor driving food deprivation, especially in deprived groups; however, our evidence indicates that more generous welfare systems can mitigate this impact.

Three essays on price dynamics and causations among energy markets and macroeconomic information

NASA Astrophysics Data System (ADS)

Hong, Sung Wook

This dissertation examines three important issues in energy markets: price dynamics, information flow, and structural change. We discuss each issue in detail, building empirical time series models, analyzing the results, and interpreting the findings. First, we examine the contemporaneous interdependencies and information flows among crude oil, natural gas, and electricity prices in the United States (US) through the multivariate generalized autoregressive conditional heteroscedasticity (MGARCH) model, Directed Acyclic Graph (DAG) for contemporaneous causal structures and Bernanke factorization for price dynamic processes. Test results show that the DAG from residuals of out-of-sample-forecast is consistent with the DAG from residuals of within-sample-fit. The result supports innovation accounting analysis based on DAGs using residuals of out-of-sample-forecast. Second, we look at the effects of the federal fund rate and/or WTI crude oil price shock on US macroeconomic and financial indicators by using a Factor Augmented Vector Autoregression (FAVAR) model and a graphical model without any deductive assumption. The results show that, in contemporaneous time, the federal fund rate shock is exogenous as the identifying assumption in the Vector Autoregression (VAR) framework of the monetary shock transmission mechanism, whereas the WTI crude oil price return is not exogenous. Third, we examine price dynamics and contemporaneous causality among the price returns of WTI crude oil, gasoline, corn, and the S&P 500. We look for structural break points and then build an econometric model to find the consistent sub-periods having stable parameters in a given VAR framework and to explain recent movements and interdependency among returns. We found strong evidence of two structural breaks and contemporaneous causal relationships among the residuals, but also significant differences between contemporaneous causal structures for each sub-period.

Patients' views on price shopping and price transparency.

PubMed

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

2017-06-01

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

Market prices for water in the semiarid West of the United States

NASA Astrophysics Data System (ADS)

Brookshire, David S.; Colby, Bonnie; Ewers, Mary; Ganderton, Philip T.

2004-09-01

Market prices contain information about supply and demand, the institutions that influence both these elements, and the operation of the market. Prices also allocate scarce resources to higher-valued uses. In this paper we analyze the price history of three water markets in the arid Southwest: Arizona's Central Arizona Project, Colorado's Colorado Big Thompson Project, and New Mexico's Middle Rio Grande Conservancy District. Using water transfers over 11 years, we estimate a simultaneous system of market equations, one for price and the other for quantity demanded. Comparison of the institutional characteristics of each market reveals that Colorado's market is well developed, with many trades and rising prices that respond to market conditions, and New Mexico's market is developing well, with lower prices, but showing some response to supply and demand factors. Arizona's market is the least developed, with few trades and very low prices. Our empirical findings support our claim that markets are becoming more efficient in these regions despite the considerable institutional and historical impediments to the evolution of water markets.

Nash equilibrium strategy in the deregulated power industry and comparing its lost welfare with Iran wholesale electricity market

NASA Astrophysics Data System (ADS)

Mousavi, Seyed Hosein; Nazemi, Ali; Hafezalkotob, Ashkan

2016-09-01

With the increasing use of different types of auctions in market designing, modeling of participants' behaviors to evaluate the market structure is one of the main discussions in the studies related to the deregulated power industries. In this article, we apply an approach of the optimal bidding behavior to the Iran wholesale electricity market as a restructured electric power industry and model how the participants of the market bid in the spot electricity market. The problem is formulated analytically using the Nash equilibrium concept composed of large numbers of players having discrete and very large strategy spaces. Then, we compute and draw supply curve of the competitive market in which all generators' proposed prices are equal to their marginal costs and supply curve of the real market in which the pricing mechanism is pay-as-bid. We finally calculate the lost welfare or inefficiency of the Nash equilibrium and the real market by comparing their supply curves with the competitive curve. We examine 3 cases on November 24 (2 cases) and July 24 (1 case), 2012. It is observed that in the Nash equilibrium on November 24 and demand of 23,487 MW, there are 212 allowed plants for the first case (plants are allowed to choose any quantity of generation except one of them that should be equal to maximum Power) and the economic efficiency or social welfare of Nash equilibrium is 2.77 times as much as the real market. In addition, there are 184 allowed plants for the second case (plants should offer their maximum power with different prices) and the efficiency or social welfare of Nash equilibrium is 3.6 times as much as the real market. On July 24 and demand of 42,421 MW, all 370 plants should generate maximum energy due to the high electricity demand that the economic efficiency or social welfare of the Nash equilibrium is about 2 times as much as the real market.

Consumer price sensitivity and social health insurer choice in Germany and The Netherlands.

PubMed

Schut, Frederik T; Gress, Stefan; Wasem, Juergen

2003-06-01

In this paper, we examine the effects of the introduction of free choice and price competition in social health insurance in Germany and the Netherlands. Using panel data at the sickness fund level we estimate the price elasticity of sickness fund choice in both countries. We find that the price elasticity in Germany is high and rapidly increasing. Consistent with findings of other studies on health plan choice, the price elasticity is much lower for elderly than for non-elderly. In the Netherlands, by contrast, the price elasticity of fund choice is negligible. Only when people were forced to choose a sickness fund, they were quite sensitive to premium differences. Key factors in explaining the observed differences in switching behavior between both countries are the degree of financial risk for sickness funds, the features of the risk-adjustment mechanism and the role of employers.

Fast food prices, obesity, and the minimum wage.

PubMed

Cotti, Chad; Tefft, Nathan

2013-03-01

Recent proposals argue that a fast food tax may be an effective policy lever for reducing population weight. Although there is growing evidence for a negative association between fast food prices and weight among adolescents, less is known about adults. That any measured relationship to date is causal is unclear because there has been no attempt to separate variation in prices on the demand side from that on the supply side. We argue that the minimum wage is an exogenous source of variation in fast food prices, conditional on income and employment. In two-stage least-squares analyses, we find little evidence that fast food price changes affect adult BMI or obesity prevalence. Results are robust to including controls for area and time fixed effects, area time trends, demographic characteristics, substitute prices, numbers of establishments and employment in related industries, and other potentially related factors. Copyright © 2012 Elsevier B.V. All rights reserved.