Journal articles on the topic 'Best price rule'
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Sachs, Rachel, Nicholas Bagley, and Darius N. Lakdawalla. "Innovative Contracting for Pharmaceuticals and Medicaid's Best-Price Rule." Journal of Health Politics, Policy and Law 43, no. 1 (February 1, 2018): 5–18. http://dx.doi.org/10.1215/03616878-4249796.
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Abstract In recent years, drug manufacturers and private payers have expressed interest in novel pricing models that more closely link a drug's price to its value. Indication-based pricing, outcome-based pricing, drug licenses, and drug mortgages have all been discussed as alternatives to paying strictly for volume. Manufacturers and payers have complained, however, that Medicaid's “best-price rule” inhibits their ability to enter into these new pricing arrangements. This article examines the best-price rule and assesses to what extent, if any, it might frustrate the goal of paying for value. We conclude that the best-price rule is not as serious a problem as it is sometimes made out to be but that it is also not simply a convenient excuse for refusing to try something new. The law here is complex, and moving to a pay-for-value model for drugs will require close coordination among manufacturers, payers, and regulators.
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Almujamed, Hesham I. "Filter rule performance in an emerging market: evidence from Qatari listed companies." International Journal of Productivity and Performance Management 68, no. 1 (January 14, 2019): 231–47. http://dx.doi.org/10.1108/ijppm-04-2018-0129.
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Purpose The purpose of this paper is to examine the predictability of nine filter rules and test the validity of the weak form of the efficient market hypothesis for the Qatar Stock Exchange (QSE). Design/methodology/approach This study adopts the filter rule strategy employed by Fifield et al. (2005), which suggests that a buy signal occurs when a share’s price increases by X percent from the previous price. This strategy recommends that the share is held until its price declines by X percent from the subsequent high price. Any price changes below X percent are ignored. Additionally, using the theory of weak-form efficiency, this paper suggests that, if a stock market is efficient, an investor cannot achieve superior results by using these trading rules. However, if market inefficiencies are present, profitable opportunities may arise. To this end, the daily closing share prices of 44 companies listed on QSE are explored for 2004–2017. Findings The findings propose that QSE is not weak-form efficient because security prices are predictable. As such, investors who followed filter strategies based on past price information could have made profit. Sectoral analysis findings further suggest that firms in the consumer goods and services, industrial and insurance sectors are most efficiently priced amongst the QSE-traded companies. Practical implications The evidence may be plausibly helpful as supporting market participants and academics that suggest that selecting filter strategy is extremely important for determining the overall profitability of the trading strategy. Originality/value To the best of my knowledge, this is the first study on Qatar that examines the performance of filter rules relative to a passive investor in the context of trading rules with individual share prices for a new stock market. Furthermore, this study adds to the literature through the empirical finding that technical analysts using filter strategies could generate excess returns relative to the buy-and-hold strategy on new emerging stock markets. This study also suggests the levels of transparency and accounting disclosure are limited, which may help Qatari policy makers understand the QSE context. Therefore, it might lead them to introduce regulatory changes to improve the QSE’s efficiency level.
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Nong, Qingqin, Jiapeng Wang, Suning Gong, and Saijun Guo. "A bin packing game with cardinality constraints under the best cost rule." Discrete Mathematics, Algorithms and Applications 11, no. 02 (April 2019): 1950022. http://dx.doi.org/10.1142/s1793830919500228.
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We consider the bin packing problem with cardinality constraints in a non-cooperative game setting. In the game, there are a set of items with sizes between 0 and 1, and a number of bins each of which has a capacity of 1. Each bin can pack at most [Formula: see text] items, for a given integer parameter [Formula: see text]. The social cost is the number of bins used in the packing. Each item tries to be packed into one of the bins so as to minimize its cost. The selfish behaviors of the items result in some kind of equilibrium, which greatly depends on the cost rule in the game. We say a cost rule encourages sharing if for an item, compared with sharing a bin with some other items, staying in a bin alone does not decrease its cost. In this paper, we first show that for any bin packing game with cardinality constraints under an encourage-sharing cost rule, the price of anarchy of it is at least [Formula: see text]. We then propose a cost rule and show that the price of anarchy of the bin packing game under the rule is [Formula: see text] when [Formula: see text].
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Xing, Yafei, Singo Mabu, Lian Yuzhu, and Kotaro Hirasawa. "Multi-Order Rules Extraction by Genetic Network Programming with Rule Accumulation and its Application to Stock Trading Problems." Journal of Advanced Computational Intelligence and Intelligent Informatics 15, no. 5 (July 20, 2011): 515–24. http://dx.doi.org/10.20965/jaciii.2011.p0515.
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As the effectiveness of the trading rules for stock trading problems has been verified, a method of extracting multi-order rules by Genetic Network Programming (GNP) is proposed using the rule accumulation for improving the efficiency of the trading rules in this paper. GNP is one of the evolutionary computations having a directed graph structure. Because of this special structure, the rule accumulation from GNP individuals is more effective for trading the stock than other methods. In this paper, there are two main points: rule extraction and trading action determination. Rule extraction is carried out in the training period, where the rules including the 1st order rules and multi-order rules, are extracted from the best individual and accumulated into the rule pools generation by generation. In the testing period, the trading action is determined by the matching degree of the stock price information with the rules, and the profits of the trading are evaluated. In the simulations, the stock prices of 16 brands in 2004, 2005 and 2006 are used for the training and those in 2007 for the testing. The simulation results show that the multi-order rules perform better than the 1st order rules. So, it is proved that themulti-order rules extracted by GNP is more effective than the 1st order rules for stock trading.
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Arif, Muhammad Fadli, Bima Anoraga, Samingun Handoyo, and Harisaweni Nasir. "Algorithm Apriori Association Rule in Determination of Fuzzy Rule Based on Comparison of Fuzzy Inference System (FIS) Mamdani Method and Sugeno Method." Business Management and Strategy 7, no. 1 (May 3, 2016): 103. http://dx.doi.org/10.5296/bms.v7i1.9410.
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<p>The economic stability of a country can be determined from the changes in the rate of inflation. Inflation is measured by the annual percentage change in the Consumer Price Index. Since there exists some uncertainties in the inflation data, fuzzy logic is one of the ways to analyse the data. Decisions in fuzzy logic can be made using the fuzzy rule-based inference system. Fuzzy rule-based inference can be obtained from expert knowledge, but the knowledge from the experts on the working of a system is not always available. Therefore, the use of association rules<em> </em>approach could solve the problem. Using three methods of fuzzy inferences; namely the Mamdani Methods, zero-order Sugeno method, and the first-order Sugeno method, this study was carried out to determine which method fits to predict the general monthly inflation data in Indonesia. The Inflation data were derived from the inflation of foodstuff price, <em>X<sub>1</sub></em>; inflation of food, drinks, cigarettes and tobacco prices, <em>X<sub>2</sub></em>; inflation of housing, water, electricity, gas, and fuel prices, <em>X<sub>3</sub></em>; inflation of clothing price, <em>X<sub>4</sub></em>; inflation of health care price, <em>X<sub>5</sub></em>; inflation of education, recreation, and sports prices, <em>X<sub>6</sub></em>; and inflation of transportation, communication, and financial services prices, <em>X<sub>7</sub></em>. The performance of the three methods was compared using mean squared error (MSE) and mean absolute percentage error (MAPE) as the accuracy measurement to establish the best fuzzy inference method that fits the inflation value. It was found that the most appropriate method which generated the most accurate results to fit the fuzzy inference system to the inflation data was the first-order Sugeno method.</p>
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Luik, Marc-Andre, and Dennis Wesselbaum. "Did the FED React to Asset Price Bubbles?" B.E. Journal of Macroeconomics 21, no. 2 (February 5, 2021): 745–72. http://dx.doi.org/10.1515/bejm-2020-0116.
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Abstract This paper investigates whether the Federal Reserve Bank (FED) reacted to asset price bubbles before the Great Recession and whether this affected macroeconomic variables. We estimate a DSGE model featuring a financial accelerator and a process for asset price bubbles with different Taylor-rule specifications. We find that a Taylor-rule with a feedback to Tobin’s Q and bubble shocks fits best. Our findings suggest that the FED followed a cleaning rather than a leaning approach prior to the global financial crisis (GFC). Then, we perform a counterfactual analysis and show that this policy created a lower interest rate prior to the GFC compared to a standard Taylor-rule without feedback to financial variables.
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Brancato, Kevin, and Richard E. Wagner. "Inefficient Market Pricing: An Illusory Economic Box." Journal of Public Finance and Public Choice 22, no. 1 (April 1, 2004): 3–13. http://dx.doi.org/10.1332/251569204x15668904587089.
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Abstract Welfare economics typically holds that market outcomes are Pareto efficient only if markets are competitive and average costs are constant or increasing. Otherwise, to attain market efficiency requires some regulatory implementation of a rule to equate price to marginal cost, though the ability of such a pricing rule to accomplish this is tempered by second-best considerations. In contrast to this typical claim, we explain why market prices must be Pareto efficient even in the presence of decreasing average costs. The existence of an analytical box labeled ‘inefficient pricing’ turns out to be an illusion that is generated by the imposition of a theoretical convention of price uniformity that has no basis for existence other than analytical convenience. In short, profit seeking alone is sufficient for Pareto efficiency, for Pareto inefficiency simultaneously means that firms are failing to exploit opportunities for profit, and to embrace such a failure provides a poor basis for economic modeling.
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Neimeth, Clifford E. "Inconsistent application of the SEC’s “all holders‐best price” rule continues to chill tender offers." Journal of Investment Compliance 3, no. 3 (July 2002): 43–47. http://dx.doi.org/10.1108/joic.2002.3.3.43.
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Neimeth, Clifford E. "Inconsistent application of the SEC’s “all holders-best price” rule continues to chill tender offers." Journal of Investment Compliance 3, no. 3 (2002): 43–47. http://dx.doi.org/10.1108/15285810210812817.
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Huppertz, Tom, Bo Weidema, Simon Standaert, Bernard De Caevel, and Elisabeth van Overbeke. "The Social Cost of Sub-Soil Resource Use." Resources 8, no. 1 (January 15, 2019): 19. http://dx.doi.org/10.3390/resources8010019.
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This paper presents a market-price-based method to value sub-soil resources in environmental Cost-Benefit Analysis and Life Cycle Assessment. The market price incorporates the privileged information of the market agents, explicitly or implicitly anticipating future applications of the resource, future backstop technologies, recycling potentials, the evolution of reserves and extraction costs. The market price is therefore considered as the best available integrated information reflecting the actual values of these parameters. Our method is based on the Hotelling rule and the fact that private agents discount future costs and benefits at a higher rate than society as a whole. In practice, the price of the last resource unit sold is calculated with the Hotelling rule using a market discount rate. Then, the price at depletion is retropolated with a social discount rate smaller than the market discount rate. The resulting corrected “socially optimal” price is higher than the market price. The method allows to calculate the social cost of resource exhaustion, which is applicable in Cost-Benefit Analysis and Life Cycle Assessment. The method is applied to mineral and fossil resources and the results are compared with other recent methods that seek to place a monetary value on resource depletion.
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Banker, Rajiv D., and Stephen C. Hansen. "The Adequacy of Full-Cost-Based Pricing Heuristics." Journal of Management Accounting Research 14, no. 1 (January 1, 2002): 33–58. http://dx.doi.org/10.2308/jmar.2002.14.1.33.
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We investigate the performance of a full-cost heuristic in a service setting. In our model, a service firm determines the amount of capacity, a price, and a price discount each period. Based upon the price, a stochastic number of customers will place service orders. If too many orders arrive in a period, the firm will offer a price discount to those customers willing to back order and accept service the next period. Even though the model is fairly simple, the optimal pricing, price discount, and capacity rules are complex and require extensive calculations. We examine how closely three distinct heuristics approximate the optimal performance. The best-performing heuristic is a full-cost pricing rule based upon a constrained version of the firm's optimization program. It consists of setting a price using full costs plus an adjustment based upon the nonlinear elasticity of demand. In 500 random simulations our full-cost heuristic obtains 99.5 percent of the optimal performance. Preliminary analysis suggests that a modified full-cost heuristic may continue to do well in settings where interim demand information arrives after the capacity choice, but before the pricing choice. However, a modified full-cost heuristic may not perform well when capacity lasts several periods.
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K, Dr Nigama, Dr R. Alamelu, Dr S. Selvabaskar, and Dr K. G. Prasanna Sivagami. "Predicting Stock Price Using Artificial Neural Networks." Restaurant Business 118, no. 8 (August 23, 2019): 96–117. http://dx.doi.org/10.26643/rb.v118i8.6985.
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Stock market facilitates the economic activities that contribute to a nation’s growth and prosperity. This is viewed as one of the lucrative avenues for financial investment. Although the stock market is a thrilling and potential opportunity to grow one’s money, it brings along with it certain challenges, because, there is no universal rule that suggests profitable investments. Investors, corporate and advisors employ several techniques like fundamental and technical analysis, trend analysis and other analysis to suggest stocks that will give best yields but such tools are neither consistent nor foolproof in the prediction of stock prices. But human exertions to convert the tacit knowledge into explicit knowledge has never found any alternate. More, the uncertainties, more the efforts to know them with certainty. Digital economy with its advanced technological tools aids the pursuit of not only understanding uncertainties but also predicting the future with maximum precision. The most prominent techniques in the technological realm includes the usage of artificial neural networks (ANNs) and Genetic Algorithms. This paper discusses the stock prices forecasting ability of Bombay stock exchange trend using genetically evolved neural networks, the input being the closing price of the previous five years and output being the price for the next day. Risk (Standard deviation), Average Return, variance and Market price are chosen as indicators of the performance. The objective of this study is to give an overview of the application of artificial neural network in predicting stock market.
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Hervás, C., A. Garrido, B. Lucena, N. García, and E. De Pedro. "Near Infrared Spectroscopy for Classification of Iberian Pig Carcasses Using an Artificial Neural Network." Journal of Near Infrared Spectroscopy 2, no. 4 (October 1994): 177–84. http://dx.doi.org/10.1255/jnirs.44.
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Artificial neural networks (ANNs) have demonstrated their usefulness in near infrared (NIR) reflection and transmittance spectroscopy for quantitative prediction. The new approach presented here considers the use of ANNs for qualitative classification. Four forms of neural networks (a competitive network using the learning vector quantisation, LVQ learning rule; a backpropagation network using the extended delta-bar-delta, EDBD rule; a network with direct random search, DRS; and a simple competitive linear network, CL) have been tested for classification of 118 fat samples from Iberian pig carcasses into three different price groups. An ANN using the LVQ learning rule has been found to be the best in terms of classification error size. The classification ability of the LVQ network has been evaluated against discriminant analysis, one of the most used methods for NIR spectroscopic qualitative analysis.
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Farida, Yuniar, Ida Purwanti, and Nurissaidah Ulinnuha. "COMPARING GAUSSIAN AND EPANECHNIKOV KERNEL OF NONPARAMETRIC REGRESSION IN FORECASTING ISSI (INDONESIA SHARIA STOCK INDEX)." BAREKENG: Jurnal Ilmu Matematika dan Terapan 16, no. 1 (March 21, 2022): 323–32. http://dx.doi.org/10.30598/barekengvol16iss1pp321-330.
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ISSI reflects the movement of sharia stock prices as a whole. It is necessary to forecast the share price to help investors determine whether the shares should be sold, bought, or retained. This study aims to predict the value of ISSI using nonparametric kernel regression. The kernel regression method is one of the nonparametric regression methods used to estimate conditional expectations using kernel functions. Kernel functions used in this study are gaussian and Epanechnikov kernel functions. The estimator used is the estimator Nadaraya-Watson. This study aims to compare the two kernel functions to predict the value of ISSI in the period from January 2016 to October 2019. The analysis results obtained the best method in predicting ISSI values, namely nonparametric kernel regression using Nadaraya-Watson estimator and Gaussian kernel function with the MAPE value of 15% and the coefficient of determination of 85%. Independent variables that significantly affect ISSI are interest rates, exchange rates, and inflation. Curve smoothing is done using bandwidth value (h) searched by the Silverman rule. The calculation result with the Silverman rule obtained a bandwidth value of 101832.7431.
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Liu, Mengkai, and Chenwei Zhu. "A Real Option Pricing Decision of Construction Project under Group Bidding Environment." Applied Sciences 13, no. 2 (January 14, 2023): 1130. http://dx.doi.org/10.3390/app13021130.
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The bidding price is one of the important factors for construction enterprises in winning a bid. In the context of public bidding in the construction industry, in the process of group competition, how to estimate the individual bids to calculate their maximum value and the best price to improve the winning probability has become an important issue. In this research, based on the real option theory, the concept of group bidding environment is introduced to establish a real option price decision-making model for construction projects. The function of the model covers two external competitive environments: independent and coupled. Finally, through model inspection and parameter sensitivity analysis, the model is discussed in depth, and suggestions for model application are obtained. The research results show that the rule of the model results has optimization characteristics, and the numerical solution is consistent with the analytical solution, which has a certain price guidance role. In the independent bidding environment, their optimal bidding price is inversely proportional to the volatility level and the option period, and it is directly proportional to the estimated costs but has no obvious relationship with the number of competitors. Moreover, the average sensitivity of the optimal bidding price to the estimated costs, the volatility level and the option period are 35.06%, 9.77% and 7.70%, respectively; the optimal mark-up ratio is 1.078. In the coupled bidding environment, the concentration of competitors’ prices and the optimal price will increase significantly, by about 2.37%, and the corresponding winning probability and weighted option value will increase by about 9.36% and 28.03%, respectively. The research results can provide price optimization for bidding activities with real option characteristics and improve the price winning rate, but the selection of price mode and parameter setting need to be set by enterprises according to industry characteristics and actual conditions.
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Qodar, Gelar Lailatul. "The Application of Mamdani Method for Predicting The Best Portable Computer Based on Hardware and Price." JOURNAL OF INFORMATICS AND TELECOMMUNICATION ENGINEERING 4, no. 1 (July 20, 2020): 33–47. http://dx.doi.org/10.31289/jite.v4i1.3770.
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A portable computer is a technology tool widely used among students and students. With a very helpful role as in typing needs, presentations, and math calculations. A variety of carry-on computers that many certainly make one difficult to determine a decent and good portable computer to use. In general, in the process of selecting a portable computer, there is no recognized standard to determine the recommended portable computer level. The purpose in this research is to produce predictive values that will be a reference in supporting decisions in determining a portable computer that complies with hardware component criteria and pricing. This study implemented FIS Mamdani models with the analysis stage of the formation of fuzzy sets, application of implications function, rule composition and defuzification. The result of this research is an output of predictive value based on hardware component inputs and prices that will assist the user in supporting decisions in determining the best carry-on computer and according to what they want.Keywords: Predictions, Fuzzy Inference System, Mamdani methods, portable computers, students.
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Deng, Shangkun, Yingke Zhu, Xiaoru Huang, Shuangyang Duan, and Zhe Fu. "High-Frequency Direction Forecasting of the Futures Market Using a Machine-Learning-Based Method." Future Internet 14, no. 6 (June 9, 2022): 180. http://dx.doi.org/10.3390/fi14060180.
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Futures price-movement-direction forecasting has always been a significant and challenging subject in the financial market. In this paper, we propose a combination approach that integrates the XGBoost (eXtreme Gradient Boosting), SMOTE (Synthetic Minority Oversampling Technique), and NSGA-II (Non-dominated Sorting Genetic Algorithm-II) methods. We applied the proposed approach on the direction prediction and simulation trading of rebar futures, which are traded on the Shanghai Futures Exchange. Firstly, the minority classes of the high-frequency rebar futures price change magnitudes are oversampled using the SMOTE algorithm to overcome the imbalance problem of the class data. Then, XGBoost is adopted to construct a multiclassification model for the price-movement-direction prediction. Next, the proposed approach employs NSGA-II to optimize the parameters of the pre-designed trading rule for trading simulation. Finally, the price-movement direction is predicted, and we conducted the high-frequency trading based on the optimized XGBoost model and the trading rule, with the classification and trading performances empirically evaluated by four metrics over four testing periods. Meanwhile, the LIME (Local Interpretable Model-agnostic Explanations) is applied as a model explanation approach to quantify the prediction contributions of features to the forecasting samples. From the experimental results, we found that the proposed approach performed best in terms of direction prediction accuracy, profitability, and return–risk ratio. The proposed approach could be beneficial for decision-making of the rebar traders and related companies engaged in rebar futures trading.
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Reekie, W. D. "A view on the treatment of collusive and restrictive practices in competition policy." South African Journal of Economic and Management Sciences 1, no. 1 (March 31, 1998): 8–35. http://dx.doi.org/10.4102/sajems.v1i1.1824.
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South African competition policy is in a state of flux. While professing to serve so-called national interest, legislation has tended to overlook the principles of economic efficiency and consumer welfare. The South African National Drug policy is a case in point. The best defence against collusion and restrictive practices in business is competition, but the Department of Health favours blanket rules like uniform pricing and a fixed fee-for-service. Thus supermarkets may not employ dispensing pharmacists, and uniform price legislation would make it illegal to negotiate discounts on prescription medicines with retailers. As a rule consumers are the losers. Many fallacies are contained in the debate on the "right" competition policy for South Africa. For example, a firm may appear big simply because the domestic market is small.
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Naghizadeh Vardin, Aziz, Ramin Ansari, Mohammad Khalilzadeh, Jurgita Antucheviciene, and Romualdas Bausys. "An Integrated Decision Support Model Based on BWM and Fuzzy-VIKOR Techniques for Contractor Selection in Construction Projects." Sustainability 13, no. 12 (June 20, 2021): 6933. http://dx.doi.org/10.3390/su13126933.
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Sustainable development of any country to some extent depends on successful accomplishment of construction projects, particularly infrastructures. Contractors have a key role in the success of these projects. Hence, the selection of a competent contractor as a complicated and hard decision process has a vital importance in the destiny of any construction project. Contractor selection is in essence a multicriteria decision-making that ought to encompass so many aspects of the project and the client’s requirements on one hand and the capabilities and past records of the contractors on the other hand. Failure in selecting a competent contractor may cause time and cost overruns; quality shortcomings; increasing in claims, disputes and change orders; and even failure of the project. In spite of deficiencies of selecting a contractor by the rule of “the lowest bid price”, it still prevails in many countries including Iran. In this paper, a new contractor selection model based on the best-worst method (BWM) and well-known Fuzzy-VIKOR techniques is proposed as a solution to overcome the deficiencies of the traditional “lowest bid price” rule. An illustrative example of a water channel construction project verified the applicability of the proposed model in practice.
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Gooding-Williams, Robert. "Response to Melanye T. Price's review of In the Shadow of Du Bois: Afro-Modern Political Thought in America." Perspectives on Politics 8, no. 3 (August 23, 2010): 901. http://dx.doi.org/10.1017/s1537592710001386.
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In In the Shadow of Du Bois, I argue that Du Bois' early political thought, as mainly expressed in The Souls of Black Folk, turns on three critical claims: 1) that African American politics is a practice of group leadership—thus, a practice of group rule, or governance, for Du Bois interprets leadership as a form of rule, or governance; 2) that African American politics should take the form of political expressivism, such that it expresses the spiritual identity of the black folk; and 3) that African American struggles to counter white supremacy are best understood as struggles against social exclusion. In her review of In the Shadow, Melanye Price notes that the “book emphasizes” claims 1 and 2, yet neglects to discuss its treatment of 3, which is no less critical to the book's argument and to which I will return.
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Oman, Nathan B. "Markets and Contractual Fairness." European Review of Contract Law 17, no. 2 (June 1, 2021): 211–23. http://dx.doi.org/10.1515/ercl-2021-2023.
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Abstract Contract is the quintessential legal institution of a market economy, but the contemporary philosophy of contract law is dominated by promissory and autonomy theories that tend to treat contract’s role in facilitating commerce as little more than a happy accident. It is thus striking that in his ambitious effort to generate a purely transactional theory of contract law Peter Benson places markets at that center of his account of transactional fairness. His argues that the abstract equality of contracting parties requires equality of exchange, an equality mediated by the just price. Echoing the scholastic tradition, Benson identifies the just price with the competitive market price. We thus have a fascinating example of an anti-functionalist, anti-distributive theory of contract that nevertheless incorporates the market as an important theoretical element. In this essay, I evaluate Benson’s use of markets, placing it within both the broader discussion of markets in contract law theory and in the larger argument that he is making about contract law. Ultimately, Benson justifies the appeal to markets not because of any attractive distributional features of competitive prices but because such prices have a formal structure that satisfies the demands of Benson’s formal theory. It is an ingenious and subtle argument. However, I am not ultimately persuaded. While I think that the rule for unconscionability cases that Benson extracts from his concept of equality of exchange is defensible, I am not persuaded by Benson’s formal approach to the fairness of markets. Rather, I will argue that competitive markets often do not have the formal features that Benson ascribes to them. Furthermore, a key aspect of his understanding of transactional fairness is best understood as resting on an attractive distributional feature of competitive markets rather than on their formal structure.
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Zhao, Yuzhe, Yujun Fan, Jingmiao Zhou, and Haibo Kuang. "Bi-Objective Optimization of Vessel Speed and Route for Sustainable Coastal Shipping under the Regulations of Emission Control Areas." Sustainability 11, no. 22 (November 8, 2019): 6281. http://dx.doi.org/10.3390/su11226281.
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To comply with the regulations of emission control areas (ECAs), most operators have to switch to low-sulfur fuels inside the ECAs. Besides, a low-carbon objective is essential for long-term environmental protection; thus, is regarded as important as making profit. Therefore, the operators start making speed and route decisions under the two objectives of minimizing carbon emissions and maximizing profit. Drawing on existing methods, this paper formulates the profit and carbon emissions in sustainable coastal shipping, investigates the speed and route principles, and determines the best tradeoff between profit and carbon emissions. It is found that vessel speed should be set between emissions-optimum speed and profit-optimum speed, and the route must be selected in light of the speed decision. Next, the optimal choices of speed and route were examined under different scenarios and vessel types. The results show that the operation measures and objectives depend greatly on fuel price, vessel load, and vessel parameters. The operator should speed up the vessel if he/she wants to make more profit or if the scenario is favorable for profit making; e.g., low fuel price and high vessel load (LFHL). Large vessels should pursue more profit under LFHL conditions, without having to sail further outside the ECA. But this rule does not apply to small vessels. In addition, the operator should slow down the vessel inside the ECA and sail further, outside the ECA, with the growth in the price spread between marine gas oil (MGO) and heavy fuel oil (HFO), especially at a low HFO price. The research findings help operators to design operational measures that best suit the limit on sulfur content in fuel and the situation of the shipping market.
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Kharisov, Ilnur, Iuliia Artamonova, Pavel Bilenko, and Sergey Sborshikov. "Mechanisms for optimizing procurement activities in construction based on cost management of contract works." E3S Web of Conferences 217 (2020): 11011. http://dx.doi.org/10.1051/e3sconf/202021711011.
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The problem of optimizing procurement activities is one of the most important at the enterprises of the construction complex, since it allows saving financial resources and reducing the time of work with constant quality parameters. As a rule, based on the results of the procurement, an agreement is concluded with the supplier that offered the lowest price. This methodology does not allow evaluating the proposed price options in terms of finding reserves to reduce construction costs, since This technique does not reveal all the hidden “pitfalls” that “unscrupulous contractors” lay when conducting tenders. Often, the customer of a construction project becomes hostage to the “low price”, at which it is necessary either to increase the price, or to increase the terms, or to change the contractor organization. The solution to this problem can be a new methodology for preparing tender documents, which assumes the classification of types of work in the form of a hierarchical structure and the determination of cost by type and code of work. This makes it possible to make a comparative assessment of contractors’ proposals in the context of individual cost items and to determine the average price based on the results of the tender. At the second stage of the competitive procedure, contractors are asked to optimize their bids to the level of the average or the lowest price, if they are higher, and to keep the offered price, if it was the lowest. Often contractors work with “usual” suppliers and stop monitoring the market for the best price. The use of this technique leads to minimization of the costs of contracting work both for the customer at the expense of the minimum price and for the contractor by identifying the potential for price reductions, and also allows the customer to obtain the required volume of construction work of the required quality within the planned time frame without reducing the internal rate of return of the contracting company organizations.
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Tsokur, E. F. "LEGAL CONSEQUENCES OF RULE VIOLATION IN AUCTIONS AND PUBLIC COMPETITIONS: CIVIL ASPECT." Proceedings of the Southwest State University 21, no. 6 (December 28, 2017): 229–34. http://dx.doi.org/10.21869/2223-1560-2017-21-6-229-234.
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In this article the author analyzes legal consequences of rule violation in auctions and public competitions in the Russian Federation. The author describes essential features for scientific justification and further improvement. Theorists’ views about specified problems are significantly different among practicing lawyers and theorists. Nevertheless the author describes independent analysis of some relevant aspects of legal consequences of rule violation in auctions and public competitions. These procedures are actively applied to ensuring state and municipal needs, thanks to bigger transparency of purchases and check convenience by control bodies. Besides public and municipal sector auction is actively held also in commercial area. Auctions represent one of ways of contract signing which is closely connected with fundamental laws of free market and expresses them more consistently. In particular it is shown in competition inherent in auctions. Such competition can cover all the areas. Use of auctions in business is caused by their convenience as the customer doesn’t search contractors. And customers also have an opportunity to make bargain with the supplier who is in other point of the country without leaving own office. It is possible to do thanks to specialized electronic resources and also by means of the digital signature allowing concluding full contracts in a digital form. Auction is dominating in commercial area and in government procurement. This procedure is the best way to promote increase in competition, offering an opportunity to reduce or raise price in real time
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Rahmiati, Alfa, and Resti Sandi. "Exploring The Arm's Length Transfer Pricing Strategy for Taxation Purpose: An Ethnographic Study in a Manufacturing Enterprise." Asian Journal of Accounting Research 1, no. 1 (February 29, 2016): 8–15. http://dx.doi.org/10.1108/ajar-2016-01-01-b002.
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Practices of transfer pricing in among companies having “special relationship” (hubungan istimewa in Bahasa Indonesia, this study uses a term of ‘related party’) to others are very common nowadays. However, the complexity of transfer pricing strategy and practices in many companies made the use of individual level data become insufficient, therefore we conduct an ethnographic study to explore how taxpayer determines the reasonable transfer pricing based on five methods (i.e. Comparable uncontrolled Price/CUP, Resale Price/RPM, Cost Plus, Transactional Net Margin Method/TNMM and Profit Split Method/PSM).This research aims to execute a tax strategy based on those methods, which finally derive the amount of product price according to arm.s length transfer pricing rule. We collected the data through interviews, observation and literatures. They are based on several months of personal experience of field research in and around the manufacturing enterprise. The results showed that the tax expense could be reduced by using Cost Plus Method, but practically, the application of this method requires more in-depth analysis and a very reliable & comparative data so the company must spend a lot of cost and time to process it. The Transactional Net Profit Method is proved to be the best application for the enterprise to optimize tax expenses because the data used for the analysis were more accessible which saved time and costs.
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Nisa, Auliah Khoirun, Muhammad Abdy, and Ahmad Zaki. "Penerapan Fuzzy Logic untuk Menentukan Minuman Susu Kemasan Terbaik dalam Pengoptimalan Gizi." Journal of Mathematics, Computations, and Statistics 3, no. 1 (May 1, 2020): 51. http://dx.doi.org/10.35580/jmathcos.v3i1.19902.
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Penelitian terapan ini bertujuan untuk membangun model Penentuan Minuman Susu Kemasan Terbaik dengan variabel pertimbangan adalah harga dan nutrisi. Langkah-langkah yang digunakan pada penelitian ini yaitu fuzzifikasi, penentuan aturan fuzzy, inferensi fuzzy dengan metode mamdani, dan defuzzifikasi. Data yang digunakan adalah data yang diambil dari survey langsung di lapangan yang dilakukan oleh peneliti di salah satu supermarket di makassar. Hasil dari penelitian ini adalah susu kemasan sampel 16 yang menjadi susu kemasan yang paling cocok untuk direkomendasikan kepada masyarakat karena memiliki nutrisi tinggi dan harga yang terjangkau.Kata Kunci: Fuzzy logic, Mamdani, Susu, Harga, Nutrisi This applied research aims to build a model of determining the best packaged milk with consideration variables are price and nutrition. The steps used in this research are fuzzification, fuzzy rule determination, fuzzy inference with mamdani method, and defuzzification. The data used are data taken from direct field surveys conducted by researchers in one of the supermarkets in Makassar. The results of this study is sample 16 packaged milk which is the most suitable packaged milk to recommended because it has high nutrition and affordable prices.Keywords: Fuzzy logic, Mamdani, Milk, Price, Nutrition
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O’Hare, Janelle. "The role of the tax system in a greener future." APPEA Journal 60, no. 2 (2020): 497. http://dx.doi.org/10.1071/aj19103.
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Ahead of the commencement of action against climate change in 2020 under the Paris Agreement, COP24 saw nations come together to design the rule book for global emissions reductions. Australia also reinforced its commitment to the Paris Agreement and its emission reduction targets. Critical to this is the design of the rules for international trade in emissions permits or credits, which were due to be agreed in Madrid as part of the COP25 in December 2019. However, the participants failed to come to any consensus, getting caught up in technical issues such as the rules for carbon market mechanisms. Instead we wait for an intersessional meeting in Bonn in June 2020 and COP26 in Glasgow in November 2020. The tax policy approach and framework adopted in relation to the energy transition, including for example the introduction and tax treatment of any carbon price or emissions trading scheme, has the potential to either support or distort the ultimate objectives of the transition. So, what does the transition to a greener future mean for the tax mix and how it will it impact the revenues of government? What role does tax play in the energy transition? What are the current rules in Australia and how do they compare to other fiscal regimes globally? How can existing rules in Australia be adapted to best support the effective design of carbon pricing policies? What reforms are necessary?
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Park, Eon Kyung, and Seokwoo Lee. "Whether Korea’s Export Permit Regulations on a Strategic Good under the Foreign Trade Act is a Peremptory Norm." Korean Journal of International and Comparative Law 4, no. 2 (December 6, 2016): 197–207. http://dx.doi.org/10.1163/22134484-00402004.
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Ever since the problem of the illegal exportation of the Mugunghwa Satellite No. 3 was raised at the parliamentary audit in 2013, a number of concerns about the follow-up measures are still being raised. Doubts have been raised about whether it was the right decision, as a legal matter, for the Science, ict and Future Planning Ministry to decide that the sale of Mugunghwa Satellite No. 3 was invalid on the ground that the Foreign Trade Act is a mandatory rule. Even in political terms, it is necessary to review whether the repurchase of Mugunghwa Satellite No. 3 is the best option. Under these circumstances, we must review whether retrieving Mugunghwa Satellite No. 3, which has a short lifespan, by paying a high price is a necessary measure to take from a national strategic perspective.
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Bier, Christoph, and Dieter Schmidtchen. "Regulierte Netzzugangsentgelte in der Elektrizitätswirtschaft und gesellschaftliche Wohlfahrt." Review of Economics 59, no. 1 (January 1, 2008): 1–22. http://dx.doi.org/10.1515/roe-2008-0101.
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SummaryCompanies active in electricity generation or supply that also own transmission or distribution network assets are generally presumed to have an economic interest in using its monopoly position as network owner to prevent or hinder competition in other areas of the value chain. This can happen in many ways such as raising rivals’ costs, price squeezes or by providing essential information only to affiliated companies. All of these practices distort a level playing field. In order to limit the risk of such behavior from occurring Member States of the European Union introduced a “regulated third party access” regime under which third parties have a right to access the network in a non-discriminatory manner. It is the purpose of the paper to derive the welfare implications of a regulation of access charges for electricity grids taking the costs of transmission as a benchmark. It shows that a cost-based regulation is second-best optimal only if the gap between the incumbent’s and the downstream entrant’s efficiency is sufficiently large. In all other cases an access charge deviating from the transmission costs is second-best optimal. There is no simple and generally applicable rule for the determination of second-best optimal access charges.
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Fahr, Stephan, and John Fell. "Macroprudential policy – closing the financial stability gap." Journal of Financial Regulation and Compliance 25, no. 4 (November 13, 2017): 334–59. http://dx.doi.org/10.1108/jfrc-03-2017-0037.
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Purpose The global financial crisis demonstrated that monetary policy alone cannot ensure both price and financial stability. According to the Tinbergen (1952) rule, there was a gap in the policymakers’ toolkit for safeguarding financial stability, as the number of available policy instruments was insufficient relative to the number of policy objectives. That gap is now being closed through the creation of new macroprudential policy instruments. Both monetary policy and macroprudential policy have the capacity to influence both price and financial stability objectives. This paper develops a framework for determining how best to assign instruments to objectives. Design/methodology/approach Using a simplified New-Keynesian model, the authors examine two sets of policy trade-offs, the first concerning the relative effectiveness of monetary and macroprudential policy instruments in achieving price and financial stability objectives and the second concerning trade-offs between macroprudential policy instruments themselves. Findings This model shows that regardless of whether the objective is to enhance financial system resilience or to moderate the financial cycle, macroprudential policies are more effective than monetary policy. Likewise, monetary policy is more effective than macroprudential policy in achieving price stability. According to the Mundell (1962) principle of effective market classification, this implies that macroprudential policy instruments should be paired with financial stability objectives, and monetary policy instruments should be paired with the price stability objective. The authors also find a trade-off between the two sets of macroprudential policy instruments, which indicates that failure to moderate the financial cycle would require greater financial system resilience. Originality/value The main contribution of the paper is to establish – with the help of a model framework – the relative effectiveness of monetary and macroprudential policies in achieving price and financial stability objectives. By so doing, it provides a rationale for macroprudential policy and it shows how macroprudential policy can unburden monetary policy in leaning against the wind of financial imbalances.
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Ghosh, Susobhan, Sujit Gujar, Praveen Paruchuri, Easwar Subramanian, and Sanjay Bhat. "Bidding in Smart Grid PDAs: Theory, Analysis and Strategy." Proceedings of the AAAI Conference on Artificial Intelligence 34, no. 02 (April 3, 2020): 1974–81. http://dx.doi.org/10.1609/aaai.v34i02.5568.
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Periodic Double Auctions (PDAs) are commonly used in the real world for trading, e.g. in stock markets to determine stock opening prices, and energy markets to trade energy in order to balance net demand in smart grids, involving trillions of dollars in the process. A bidder, participating in such PDAs, has to plan for bids in the current auction as well as for the future auctions, which highlights the necessity of good bidding strategies. In this paper, we perform an equilibrium analysis of single unit single-shot double auctions with a certain clearing price and payment rule, which we refer to as ACPR, and find it intractable to analyze as number of participating agents increase. We further derive the best response for a bidder with complete information in a single-shot double auction with ACPR. Leveraging the theory developed for single-shot double auction and taking the PowerTAC wholesale market PDA as our testbed, we proceed by modeling the PDA of PowerTAC as an MDP. We propose a novel bidding strategy, namely MDPLCPBS. We empirically show that MDPLCPBS follows the equilibrium strategy for double auctions that we previously analyze. In addition, we benchmark our strategy against the baseline and the state-of-the-art bidding strategies for the PowerTAC wholesale market PDAs, and show that MDPLCPBS outperforms most of them consistently.
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Оберемок, Марина, Marina Oberemok, Андрей Наумов, Andrey Naumov, Марина Щенятская, and Marina Schenyatskaya. "QUALITATIVE ANALYSIS OF VIEW CHARACTERISTICS OF RESIDENTIAL PROPERTY." Bulletin of Belgorod State Technological University named after. V. G. Shukhov 4, no. 3 (April 10, 2019): 44–51. http://dx.doi.org/10.34031/article_5ca1f631244a52.27503491.
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Some kinds of residential real estate are characterized by a special view from the windows. Apartments with unique characteristics are in high demand among the population, therefore the cost of these objects exceeds the average market price. As a rule, developers try to make the best use of the visual prospects of residential real estate. The paper provides a qualimetric analysis of estimation the view characteristics of apartments in Belgorod based on the demand factors. There is the classification of view components of residential real estate on the basis of urban planning, aesthetic, emotional and other functions. Conclusions on the cost of the view are formed taking into account the criteria of its attractiveness. Functional dependence is obtaine. It allows to determine the surcharge to the cost of residential real estate based on differences in the view. The practical aim of determining the specifics of apartments pricing with a view is the ability to manage demand and to improve the efficiency of residential real estate development.
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Melesse, Wondemhunegn Ezezew. "Business cycles in Ethiopia under alternative monetary policy rules." African Journal of Economic and Management Studies 10, no. 3 (September 2, 2019): 299–313. http://dx.doi.org/10.1108/ajems-12-2018-0395.
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Purpose The purpose of this paper is to compare business cycle fluctuations in Ethiopia under interest rate and money growth rules. Design/methodology/approach In order to achieve this objective, the author constructs a medium-scale open economy dynamic stochastic general equilibrium (DSGE) model. The model features several nominal and real distortions including habit formation in consumption, price rigidity, deviation from purchasing power parity and imperfect capital mobility. The paper also distinguishes between liquidity-constrained and Ricardian households. The model parameters are calibrated for the Ethiopian economy based on data covering the period January 2000–April 2015. Findings The main result suggests that: the model economy with money growth rule is substantially less powerful or more muted for the amplification and transmission of exogenous shocks originating from government spending programs, monetary policy, technological progress and exchange rate movements. The responses of output to fiscal policy shocks are relatively stronger under autarky which appears to confirm the findings of Ilzetzki et al. (2013) who suggest bigger multipliers in self-sufficient, closed economies. With regard to positive productivity shock, however, the model with interest rate feedback rule generates a decline in output and an increase in inflation, which are at odds with conventional empirical regularities. Research limitations/implications The major implication is that a central bank regulating some measure of monetary stocks should not expect (fear) as much expansion (contraction) in output following currency devaluation (liquidity withdrawal) as a sister central bank that relies on an interest rate feedback rule. As emphasized by Mishra et al. (2010) the necessary conditions for stronger transmission of interest-rule-based monetary policy shocks are hardly existent in emerging and developing economies targeting monetary aggregates; hence the relatively weaker responses of output and inflation in the model economy with money growth rule. Monetary policy authorities need to be cautious when using DSGE models to analyze business cycle dynamics. Quite often, DSGE models tend to mimic the proverbial “crooked house” built to every man’s advise. Whenever additional modification is made to an existing baseline model, previously established regularities break down. For instance, this paper documented negative response of output to technology shock. Such contradictions are not uncommon. For example, Furlanetto (2006) and Ramayandi (2008) have also found similarly inconsistent responses to fiscal and productivity shocks, respectively. Originality/value Using DSGE models for research and teaching purposes is not common in developing economies. To the best of the author’s knowledge, only one other Ethiopian author did apply DSGE model to study business cycle fluctuation in Ethiopia albeit under the implausible assumption of perfect capital mobility and a central bank following interest rate rule. The contribution of this paper is that it departs from these two unrealistic assumptions by allowing international risk premium as a function of the net foreign asset position of the country and by applying money growth rule which closely mimics the behavior of central banks in low-income economies such as Ethiopia.
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Korving, H., and F. Clemens. "Bayesian decision analysis as a tool for defining monitoring needs in the field of effects of CSOs on receiving waters." Water Science and Technology 45, no. 3 (February 1, 2002): 175–84. http://dx.doi.org/10.2166/wst.2002.0077.
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In recent years, decision analysis has become an important technique in many disciplines. It provides a methodology for rational decision-making allowing for uncertainties in the outcome of several possible actions to be undertaken. An example in urban drainage is the situation in which an engineer has to decide upon a major reconstruction of a system in order to prevent pollution of receiving waters due to CSOs. This paper describes the possibilities of Bayesian decision-making in urban drainage. In particular, the utility of monitoring prior to deciding on the reconstruction of a sewer system to reduce CSO emissions is studied. Our concern is with deciding whether a price should be paid for new information and which source of information is the best choice given the expected uncertainties in the outcome. The influence of specific uncertainties (sewer system data and model parameters) on the probability of CSO volumes is shown to be significant. Using Bayes' rule, to combine prior impressions with new observations, reduces the risks linked with the planning of sewer system reconstructions.
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Just, David R., Ozge Sigirci, and Brian Wansink. "Peak-end pizza: prices delay evaluations of quality." Journal of Product & Brand Management 24, no. 7 (November 16, 2015): 770–78. http://dx.doi.org/10.1108/jpbm-01-2015-0802.
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Purpose The purpose of this paper is to determine if the level of payment required for consumption changed the relationship between a consumer’s overall evaluation of a hedonic consumption experience and the evaluation of first, middle, last piece and peak consumption experiences. Design/methodology/approach Diners at an all-you-can-eat restaurant were either charged $4 or $8 for an Italian lunch buffet. Their taste, satisfaction and enjoyment evaluation of each piece of pizza they had was taken along with other measures of behavior and self-perceptions. Using regression analysis, we examine the relationship between these single event evaluations and their overall evaluations of the experience. Findings For the diners who paid $4 for their buffet, overall taste, satisfaction and enjoyment evaluation depend on the taste of the last piece of the pizza and the peak taste consistent with prior findings. For those paying $8 for the buffet, the first piece of pizza is more important in predicting the overall taste, satisfaction and enjoyment ratings. Practical implications Consumers do not evaluate their meal experience based on every moment of their experience. Rather, just a few moments appear to impact overall evaluation. Firms that sell access to a series of experiences, such as an all-you-can-eat buffet, should focus on leading customers to the best experience first particularly when prices may be considered moderate to high. Originality/value In this paper, we seek to unravel the relationship between price paid and the peak-end heuristic by examining the importance of peak and end experiences under two different pricing regimes. Our study also indicates that the peak-end rule may depend on specific contextual factors.
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Simanjuntak, Johan Oberlyn, Bartholomeus, Salomo Simanjuntak, Partahi Lumbangaol, and Astri Agnes. "ANALISA KONTRAK PROYEK KONSTRUKSI DI INDONESIA." Jurnal Visi Eksakta 2, no. 2 (July 30, 2021): 205–14. http://dx.doi.org/10.51622/eksakta.v2i2.394.
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The contract is a very importand document in the project. Contract are seen as laws that must be obeyed, govern and control the rights and obligations between service users and service providers in the project. In world of construction in Indonesia, the standard used for contract documents must be based on Law No.2 of 2017 on construction services as a guide and guidance in constructions activities in Indonesia. In the international world, FIDIC documents has long been recognized, which is a contractual rule that has been used by many countries. FIDIC has also been widely adapted to government and private projects in Indonesia. The first analysis is to identify the contract documents used in several project in North Sumatera region. This analysis shows that the FIDIC red book document is the most suitable document to be used in several project in North Sumatera. The second analysis is comparing the FIDIC document and the analysis shows that the contract document that best matches the points in the questionnaired is Law No. 2 of 2017 on construction services. From the analysis of the previous discussion a conclusion was drawn regarding the philosophy of the work contract discussed was the type of unit price contract based on.
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Zhou, Yanglin, Lin Cheng, Song Ci, Yang Yang, and Shiqian Ma. "A User-Oriented Pricing Design for Demand Response in Smart Grid." Wireless Communications and Mobile Computing 2019 (September 10, 2019): 1–12. http://dx.doi.org/10.1155/2019/8694016.
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Demand response (DR) programs are designed to affect the energy consumption behavior of end-users in smart grid. However, most existing pricing designs for DR programs ignore the influence of end-users’s diversity and personal preference. Thus, in this paper, we investigate an incentive pricing design based on the utility maximization rule with consideration of end-users’ preference and appliances’ operational patterns. In particular, the utility company determines the pricing policy by trading off the budget revenue and social obligation, while each end-user aims to maximize their own utility profits with high satisfaction level by scheduling multiclass appliances. We formulate the conflict and cooperative relationship between the utility company and end-users as a Stackelberg game, and the equilibrium points are obtained by the backward induction method, which exists and is unique. At the equilibrium, the utility company adopts real-time pricing (RTP) scheme to coordinate end-users to fulfill the benefit of themselves, i.e., under such price, end-users automatically maximize overall utility profits of the overall system. We propose a distributed algorithm and an adaptive pricing scheme for the utility company and end-users to jointly achieve the best performance of the entire system. Finally, extensive simulation results based on real operation data show the effectiveness of the proposed scheme.
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Talla, Hayder, Abdul Kareem Hassan, and Jawad Oleiwi. "Study the Effect of Reinforcing Kevlar Fibers with Carbon Fibers and Glass Fibers on the Performance of the Athletic Prosthetic Foot." Basrah journal for engineering science 22, no. 2 (December 24, 2022): 41–48. http://dx.doi.org/10.33971/bjes.22.2.7.
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In this research, the mechanical properties were studied from the experimental, theoretical, and numerical aspects of the sports prosthetic foot for the purpose of providing a sporty prosthetic limb with high performance, easy to use and an appropriate financial cost to use by amputees who have lost their lower limbs (amputation below the knee) in practicing their sports activities and overcoming physical disability. The dimensions of the blades were calculated based on side profiles from European patent specifications. The chosen fibers have high strength, are light in weight, and can be purchased for a lower price than the materials that are used in the production of the sports prosthetic feet that are already on the market and are produced by specialized companies such as Ottobock and Ossur. Six laminates of the composite material consisting of matrix orthocryl lamination 80:20 pro reinforced with different fibers (Kevlar fibers, carbon fibers, glass fibers, and perlon fibers) were fabricated in the form of rectangles using the vacuum system and then cut to the required dimensions using a CNC machine. The density and volume fraction of the samples and the use of the rule of mixtures to calculate the mechanical properties of the laminates were calculated and entered into the ANSYS program. Then the boundary conditions were applied to the athlete's prosthetic foot and the total deformation, and the total strain energy was calculated to find out the best laminates in the athlete's foot industry. It was noticed that the laminates reinforced with carbon fibers were better than the laminates reinforced with glass fibers in terms of Young’s Modulus, as well as deformation. The best laminate obtained is (12 K + 4 C).
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Zhitin, Ruslan M., and Aleksey G. Topilsky. "Animal husbandry in the structure of economic interests of Tambov landlords in the early 20th century." Tambov University Review. Series: Humanities, no. 193 (2021): 180–88. http://dx.doi.org/10.20310/1810-0201-2021-26-193-180-188.
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We analyze the system of animal husbandry of Tambov landowners in the early 20th century. The transition from “manure” to “productive” (breeding for the purpose of obtaining meat and milk as the main, rather than by-products) cattle breeding is shown, which was facilitated by a steady increase in the price of animal products. The nature of the development of market animal husbandry, aimed at selling products outside their estate, county, governorate, as well as – in some cases – exports to European countries, is considered. By the early 20th century, the owners ex-panded the practice of improving the productivity of livestock at the expense of the best Russian and European breeds of cattle, due to limited resources, as a rule, resorting to its metization. It is established that this practice led to the conclusion of optimal breeds of cows, horses and sheep for the region in terms of the ratio of cost and adaptability to natural conditions and the feed base. In addition, metization allowed to increase the cost of animals, providing profit not only due to lives-tock products, but also the sale of animals. We describe the use of new forms of animal care that provided a reduction in the mortality of young animals, the fight against the spread of diseases af-fecting cattle and the improvement of livestock growth.
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Chamberlain, Trevor C., Abdul-Rahman Khokhar, and Sudipto Sarkar. "Market effects of SEC regulation of short-term borrowing disclosure." International Journal of Managerial Finance 12, no. 5 (October 10, 2016): 529–57. http://dx.doi.org/10.1108/ijmf-04-2015-0073.
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Purpose The purpose of this paper is to offer an alternative approach to measure the cost-benefit tradeoff, by analyzing stockholders’ reactions to the announcement and vote on the proposed rule. More specifically, the authors use event study methodology to investigate the stock price reaction on two key dates; that is, the announcement date and the voting date of the proposed short-term borrowing disclosure regulation, and argue that positive abnormal stock returns indicate that the expected benefits of the regulation outweigh the compliance costs. A negative reaction would indicate that, in the eyes of investors, the costs of compliance exceed the expected benefits. Design/methodology/approach The authors use event study analysis and apply the market model to equal-weighted portfolios of 2,450 financial and 3,985 non-financial US firms to calculate mean cumulative abnormal stock returns (MCARs, hereafter) on the announcement and voting dates. Then, the authors conduct mean difference tests on firm-level MCARs across three event windows, that is, (−30,−1), (0,+1) and (+2,+30), to confirm if the MCARs of financial firms are different from those of non-financial firms on both the announcement and the voting dates. Finally, robustness tests are performed with alternate benchmark, using value-weighted portfolios, for the market. Findings The authors find that the market reaction is positive and significant at the announcement date and negative and significant at the voting date of the proposed regulation of short-term borrowing disclosure regulation. Overall, the paper documents a positive market reaction, indicating the usefulness of the disclosure from the vantage point of users. Examining and comparing the results for various subsets, including commercial banks and saving institutions, bank holding companies, size quartiles, and exchange listed and OTC registrants, the authors find that a “one-size-fits-all” approach to regulation is undesirable. Originality/value This is first empirical study, to best of the authors’ knowledge, to explore stockholder reaction to a proposed, rather than an enforced, Securities and Exchange Commission (SEC) regulation and may contribute to the SEC’s final decision on the rule. Second, given a dissimilar reaction from investors of different firms, the results suggest that the SEC needs to reconsider its one-size-fit-all approach for the proposed rule. Finally, because the proposed disclosure would affect all SEC registrants, the economic implications of the findings are important not only for stockholders, but also for regulators, as they attempt to manage systematic risk and optimize the level of market intervention.
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Beyhaghi, Hedyeh, Negin Golrezaei, Renato Paes Leme, Martin Pál, and Balasubramanian Sivan. "Improved Revenue Bounds for Posted-Price and Second-Price Mechanisms." Operations Research 69, no. 6 (November 2021): 1805–22. http://dx.doi.org/10.1287/opre.2021.2121.
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How to optimize posted price mechanisms? The sequential posted-price (SPP) mechanism is one of the widely used selling mechanisms in practice. In this mechanism, the seller presents each buyer with a price sequentially and the buyer can either accept or reject the mechanism's offer. Despite the widespread use of the SPP mechanism, the problem of optimizing prices in this mechanism has not been fully addressed. In a paper entitled, “Improved Revenue Bounds for Posted-Price and Second-Price Mechanisms,” H. Beyhaghi, N. Golrezaei, R. Paes Leme, M. Pal, and B. Sivan construct SPP mechanisms by considering the best of two simple pricing rules: one that imitates the optimal mechanism and the other that posts a uniform price (same price for every buyer). Their simple pricing rules can be easily generalized to the setting with multiple units and yield the first improvement over long-established approximation factors.
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Wozny, Florian, Wolfgang Grimme, Sven Maertens, and Janina Scheelhaase. "CORSIA—A Feasible Second Best Solution?" Applied Sciences 12, no. 14 (July 13, 2022): 7054. http://dx.doi.org/10.3390/app12147054.
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This paper studies the feasibility of CORSIA’s carbon neutral growth goal based on verified carbon offsetting. It is motivated by an ongoing general debate about the climate and regulatory integrity of carbon offsetting, thus systematically identifying critical carbon offset characteristics. Using registry data from the largest carbon offset verifiers eligible under CORSIA, we show that the majority of carbon offsets have minor climate integrity. This challenges CORSIA’s neutral growth objective. However, unconditional offset price differentials are only weak signals for climate integrity. To increase environmental effectiveness, a narrower scope of eligibility rules is necessary in order to ensure maximum compliance of projects and strengthen the necessary price effect of carbon offsets. However, it is highly questionable whether there is enough potential supply of offsets to ensure such high integrity, indicating that carbon offsetting should be considered as a transitory measure only.
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Lee, Kelvin Yong Ming. "Technical Analysis and Malaysian Banking Sector during COVID-19 Pandemic." UNIMAS Review of Accounting and Finance 4, no. 1 (December 30, 2020): 41–46. http://dx.doi.org/10.33736/uraf.2822.2020.
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The announcements of Movement Control Order and Loan Moratorium caused a significant impact on the stock prices of Malaysian banks during the COVID-19 pandemic. This study aims to investigate the effectiveness of technical analysis in predicting the stock price movement and the ability of the technical analysis in generating returns. In doing so, six moving average rules used as the proxy of technical analysis and tested in this study. Majority of the MA rules shown positive returns before the various announcements dates. Specifically, this study revealed that MA rules of (2,5) and (2,10) were among the best performing MA rules during the COVID-19 pandemic. This study also recommends the investors to use the signals emitted by the technical indicator as the reference for their investment decision in the banks’ stock.
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Badarinathi, Ravija, and Ladd Kochman. "Football Betting and the Efficient Market Hypothesis." American Economist 40, no. 2 (October 1996): 52–55. http://dx.doi.org/10.1177/056943459604000207.
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Three betting rules which had been nonrandomly profitable in both their initial application to the 1969–74 National Football League seasons and their replication during the years of 1975–81 were applied to all NFL games played between September 1984 and January 1994. One rule proved to be nonrandom and profitable for a third consecutive trial—a feat suggesting that bettors may be able to “beat the bookie” and, more broadly, that prices in competitive markets may not discount all available information in swift fashion.
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Choi, Jaehyung. "Maximum Drawdown, Recovery, and Momentum." Journal of Risk and Financial Management 14, no. 11 (November 11, 2021): 542. http://dx.doi.org/10.3390/jrfm14110542.
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We empirically test predictability on asset price using stock selection rules based on maximum drawdown and its consecutive recovery. In various equity markets, monthly momentum- and weekly contrarian-style portfolios constructed from these alternative selection criteria are superior not only in forecasting directions of asset prices but also in capturing cross-sectional return differentials. In monthly periods, the alternative portfolios ranked by maximum drawdown measures exhibit outperformance over other alternative momentum portfolios including traditional cumulative return-based momentum portfolios. In weekly time scales, recovery-related stock selection rules are the best ranking criteria for detecting mean-reversion. For the alternative portfolios and their ranking baskets, improved risk profiles in various reward-risk measures also imply more consistent prediction on the direction of assets in future. Moreover, turnover rates of these momentum/contrarian portfolios are also reduced with respect to the benchmark portfolios. In the Carhart four-factor analysis, higher factor-neutral intercepts for the alternative strategies are another evidence for the robust prediction by the alternative stock selection rules.
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Deck, Cary, Maroš Servátka, and Steven Tucker. "Designing Call Auction Institutions to Eliminate Price Bubbles: Is English Dutch the Best?" American Economic Review: Insights 2, no. 2 (June 1, 2020): 225–36. http://dx.doi.org/10.1257/aeri.20190244.
Full textAbstract:
The bubble-and-burst pattern in asset markets is among the most replicable results in experimental economics. Using controlled laboratory experiments, we compare mispricing in markets organized by standard double auction rules with mispricing in markets organized by two alternative sets of clock auctions. The double Dutch auction, shown to be more efficient than the double auction in past commodity market experiments, does not eliminate bubbles. However, the English Dutch auction yields prices reflective of underlying fundamentals and succeeds in taming bubbles even with inexperienced traders in a declining fundamental value environment with an increasing cash-to-asset ratio. (JEL C91, D44, G12)
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Williamson, John. "Comment on McKinnon's Monetary Rule." Journal of Economic Perspectives 2, no. 1 (February 1, 1988): 113–19. http://dx.doi.org/10.1257/jep.2.1.113.
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[This paper responds to “Monetary and Exchange Rate Policies for International Financial Stability: A Proposal,” by Ronald I. McKinnon, in this same issue.] While McKinnon's criticisms of the regime of floating exchange rates are almost entirely justified, I argue that both his analysis and his diagnosis are flawed. His analysis presupposes a very special set of parameters which result in changes in the budget deficit leading to equal changes in the trade balance while leaving output unchanged. In fact, achieving this result requires also changes in relative prices, which are best induced by changes in exchange rates. This points to one of the four important social functions of exchange rate flexibility that are denied or ignored by McKinnon and that would be forfeited under his proposal. In contrast, target zones offer escape from the major costs of floating while retaining the important advantages that flexible rates offer.
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Akrami, Farzaneh, Sakina Shaik Ahmad Yu, and Suzanna Mohamed Isa. "The Problem of ‘Open Price Term’ in Contracts of Sale of Goods in Iran and under the United Nations Convention on Contracts for the International Sale of Goods." International Journal of Engineering & Technology 7, no. 3.30 (August 24, 2018): 219. http://dx.doi.org/10.14419/ijet.v7i3.30.18232.
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This is an undeniable fact is that incomprehensible or restricted rules cause problems for merchants as suppliers. This is more perceptible through domestic rules of the countries. However, international businessmen are also affected by existing conflicts in the international regulations. The concept of ‘open price term’ in contracts for the sale of goods is one of the best samples for developments in the world’s trade. However, regarding the open price term, the Iranian law has yet to adopt this vital phenomenon. On the other hand, if Iranian legislator aims to impose open price rules in the regulations, provisions of an international set of rules seem to be a useful model for such regulations as they are more common and have the capacity of being applied in the contracts made by parties from all over the world. As such, the United Nations Convention on Contracts for the International Sale of Goods (CISG), as an international set of rules containing open price rules is chosen in this paper to be studied as a model for such regulations. However, respective Article in CISG consists of some shortcoming as well. Thus, Adopting the doctrinal research method, in this paper aims to highlight the importance of adopting new rules for new methods of transaction and the necessity of amendments on existing rules.
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Ma, Hongyao, Fei Fang, and David C. Parkes. "Spatio-Temporal Pricing for Ridesharing Platforms." Operations Research 70, no. 2 (March 2022): 1025–41. http://dx.doi.org/10.1287/opre.2021.2178.
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Ridesharing platforms have radically changed the way people get around in urban areas, but there remain challenges undercutting the mission of “making transportation as reliable as running water.” A particular concern is that drivers strategize: calling riders to find out their destinations and canceling trips that are not worthwhile, declining trips and chasing surge prices in neighboring areas, and going off-line before large events will end in anticipation of a price increase. In this work, we show that such strategic behaviors are symptoms of inefficiencies in the pricing and dispatching rules governing today's platforms. We propose the Spatio-Temporal Pricing mechanism, which solves for the welfare-optimal matching of drivers to trips, and sets prices that are appropriately smooth in both space and time such that the best thing for drivers to do is accept any proposed trip dispatch. This demonstrates that ridesharing platforms can succeed in optimally orchestrating trips and providing reliable transpiration for riders, while still leaving drivers with the flexibility to decide how to work.
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Marfalino, Hari, Muhammad Reza Putra, and Guslendra c, Yosi Yulia. "Financial Control Techniques Services Company with Fuzzy Mamdani." International Journal of Engineering & Technology 7, no. 4.28 (November 30, 2018): 11. http://dx.doi.org/10.14419/ijet.v7i4.28.22382.
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Service Company is a business activity that provides products in the form of services to customers. Micro business services are in great demand among SMK graduates as it is very easy to live up to their abilities. This includes Micro Service Counter service, tailor, reflection, and others. However, the problem that arises is their lack of practical financial business knowledge. Many businesses they experience an emergency because they do not have proper business financial statements. With the current technological advances, most problems can be solved by technology. One such solution is an accounting information system application with mamdani blur technique. The process of calculating the system is done in 4 stages, namely: the formation of the blur set, the implications of the rules, the rules of composition and Defuzzyfication. Based on the results of trials, there’s an error in determining the price of services. Therefore, the high price of service can reduce the number of service requests and the low price service may incur losses to the company. With this system, one can determine the best service price and the best service for consumers.