Academic literature on the topic 'Competitive price survey'

The objective of the study is to estimate the determinants of price stickiness or flexibility. Data is collected through structured questionnaire from 342 firms, which are selected through stratified random sampling technique from the Industrial Estate of Khyber Pakhtunkhwa. To estimate the determinants of price flexibility/rigidity, models are estimated through ordinary least squares technique and binary logistic technique. The most important factors for price stickiness are implicit/explicit price contracts and minimum price volatility. Imperfect competitive market structure, number of regular customers, backward-looking behavior, and credibility of central bank and size of the firm are important determinants of price rigidity. While economic literacy and information set regarding expected inflation make the prices flexible. Study recommend that monetary policy of Pakistan should use other transmission channels of money supply instead of traditional channel, because it is found that the degree of price rigidity is low in Pakistan. Keywords: Price Rigidity, Price Flexibility, Price Contract, Frequency of Price Change.

The objective of the study is to estimate the determinants of price stickiness or flexibility. Data is collected through structured questionnaire from 342 firms, which are selected through stratified random sampling technique from the Industrial Estate of Khyber Pakhtunkhwa. To estimate the determinants of price flexibility/rigidity, models are estimated through ordinary least squares technique and binary logistic technique. The most important factors for price stickiness are implicit/explicit price contracts and minimum price volatility. Imperfect competitive market structure, number of regular customers, backward-looking behavior, and credibility of central bank and size of the firm are important determinants of price rigidity. While economic literacy and information set regarding expected inflation make the prices flexible. Study recommend that monetary policy of Pakistan should use other transmission channels of money supply instead of traditional channel, because it is found that the degree of price rigidity is low in Pakistan. Keywords: Price Rigidity, Price Flexibility, Price Contract, Frequency of Price Change.

Price stability are important for macroeconomic stability, especially for the economies, which are facing macroeconomic instability. Contractionary monetary policy can play an important role in minimizing the frequency of price change, so for effective monetary policy, it is necessary to identify the determinants of price setting behaviour. The objective of the study is to determine the patterns of price setting of firms and responses of firms to economic shocks, i.e. changes in demand and supply side factors, the role of firm characteristics, institutional and other factors in determining the channel of adjustment after these shocks. The data is collected through stratified frandom samplling from 342 firms, located in four Industrial estates of Khyber Pakhtunkhwa. Price setting behavior is measured through importance of demand and cost shocks for price change. To estimate the effects of determinants of price change, models are estimated through logistic technique. Firms’ likelihood of price increases higher than that to price decrease in response to both demand and supply shocks. Furthermore, supply-side factors lead to higher frequency of price change than demand-side factors do. The cost of raw material and cost of energy are the most important causes of price change, both for the price increase and decrease. Demand and cost shocks are important determinants of price change for imperfectly competitive firms, backward-looking firms, firms run by managers having more information about economic conditions, while credibility of central bank is important determinant of price change in case of demand shocks only. Size of firms and information set regarding expected inflation do not have any effect. For effective monetary policy of Pakistan, credibility of central bank has to be established to stabilize prices and pre-emptive measures should be taken on the part of central bank to counter supply shocks.

Several aspects of consumer behavior can increase the likelihood of price conflicts where organizations are subsequently influenced to engage in price wars. As the main aspect of business activities relates to the success of financial transactions, customer loyalty and price sensitivity becomes a decisive factor that defines market characteristics in the long run. Using quantitative survey data from respondents in the Indonesian lighting industry, this research is aimed to generate an understanding of how practitioners view their customer’s characteristics in relation to competitive interaction. The study found that within the context of competition, firms regard loyalty and sensitivity to be influenced by sufficient acceptance of price positioning strategies.

In marketing terms, the phenomenon of price war is regarded as the result of over-competition and retaliatory reaction in order to win market share. Based on the available literature, three refined models of price war antecedents has been identified: the imperfect monitoring model, the cyclical model, and the learning model. This article was written as part of a recent empirical observation of four Indonesian lighting companies who consider themselves to be currently engaged in price war. Based on the proposition made earlier by Heil and Helsen (2001), this study was prepared as a qualitative survey using an open-ended questionnaire method. The study found that price war is a result of competitive interaction in periods where demands are declining and induced by intra-brand competition. In conclusion, propositions to manage activities in conditions of price war are presented.

This study aims to analyze the impact of the COVID-19 pandemic on changes in handsanitizer prices in Indonesia. This study is motivated by the increasing demand for handsanitizers which has had an impact on price ratings. The method used is an explanatory survey with an exponential form approach for the demand function and Linear Cobweb Form for the supply function. The structure of the hand sanitizer market is assumed to be a perfectly competitive market. The results of the study indicate that despite changes in prices, the numerical analysis shows that prices are stable. The entry and exit of companies in the market does not affect price stability. This finding implies that after the pandemic the prices of handsanitizers will return to normal, so producers and consumers must remain rational.

Container terminals require continuous benchmarking of competitiveness factors. This paper discusses factors of competitiveness with a main focus on feeder and mixed terminals (in which both feeder and transshipment services are provided). Method statement includes an economic literature review with respect to competitiveness factors and a container port expert survey process to achieve a list of most important factors among global container port operators. Experts were selected from different countries and private container terminals. A questionnaire was developed and sent online to them. Questions required both a ranking of factors as well as assigning monetary values to critical variables. Responses were analyzed using a pre-established strategy. Overall, experts ranked first the role of market related competitiveness factors related to service quality, price level and adaptability to the changing market environment. Intermodal links and general hinterland connections factors were more often mentioned than factors relating to nautical accessibility or other factors. Both assignment of monetary values as well as ranking have produced mutually coherent results. The paper does not claim to be definitive; it aims to provide an update of competitive factors hierarchy and highlights issues for further port development.

Target costing is a cross-disciplinary subject with several unexplored academic dimensions besides having applied business practices and economic policy implications. In this paper, we use a unique combination of mixed methods research approach to investigate the adoption of target costing by manufacturing firms in the United Arab Emirates (UAE). The first employed method is the new Dumitrescu-Hurlin (D-H) Granger non-causality test for heterogeneous panel data, while the second is a survey. The D-H test with annual data indicates the adoption of target costing by the publicly listed manufacturing firms. When using quarterly data, but with a smaller sample of firms, the results show bi causality between costs and sales revenues; thus target costing is possibly corroborated but within a feedback mechanism. Survey results, based on self-reported data and again on a smaller sample, show mixed results. The relationship between target costing and the intensity of competition seems moderately corroborated by the survey results. This paper contributes to the literature by employing a unique mixed methods research approach, to the best of our knowledge not found previously in the literature, and by its findings on the adoption of target costing by manufacturing firms in a relatively open and dynamic economy such as the UAE.

  This paper presents unique survey results with opinions on the competitive supply and efficient energy use, sources of energy and renewable sources of energy. The multivariate factor analysis with three common factors confirms the significance of the price competitive supply of energy, energy costs for the economy, and the sustainable energy supply development and ecological perception in the energy use. Among renewable sources of energy, significance is given to the solar, hydro, biogas, and biomass energy, where the energy use and the renewable energy production in agriculture can play a greater role. Education and promotion activities are expressed as important for strengthening the knowledge, awareness, and social responsibility of the sustainable energy development and the use of renewable sources of energy.  

Purpose The purpose of this paper is to investigate the characteristics that lead to the adoption of the three new business-to-business (B2B) product pricing strategies, namely, skimming pricing (i.e. a high initial price), penetration pricing (i.e. a low initial price) and pricing similar to competitive prices. Design/methodology/approach To achieve the study’s research objectives, data were collected through a mail survey from 116 B2B firms, operating in four different sectors. Findings The adoption of skimming pricing and penetration pricing is triggered by company-related factors that are associated with the company’s corporate and marketing strategy and the product characteristics, while the adoption of pricing similar to competitive prices is influenced by market-related factors that are associated with customers’ and competitors’ characteristics. Practical implications The above findings indicate that the managers responsible for setting prices for new B2B products should follow a “situation-specific approach” and be guided by the unique characteristics of their internal and external environment. Originality/value Its contribution lies on the fact that, building upon quests within the existing literature, it constitutes one of the first attempts to examine empirically the aforementioned issue.

The diploma thesis focuses on the issue of the international marketing mix of a Czech company entering the German market. It specifies the motives and forms of entering the foreign market and defines the individual components of the international marketing mix. It contains a suggestion for a suitable form of entry, elaboration of an international marketing mix of the company and based on a survey of competitive prices of selected products, it recommends choosing a suitable pricing strategy when entering a foreign market.

Abstract The village of Sauraha in Nepal is a principal entry point to Chitwan National Park and has been influenced by multiple events over the past few years, affecting the local tourism dynamics and specific tourism products like elephant-back safaris. The global debate on animal welfare visibly influences the local market dynamics for elephant safaris. At the same time, there are other local factors at play that may be of stronger influence. The destination has been affected by local political and economic challenges that have increased cost of operations, intensified competition and challenged potential visitors. Furthermore, Sauraha is attracting emerging markets with different values and expectations in comparison with the traditional markets and which are charged lower prices for services. This chapter explores the impact of these recent events facing the destination Sauraha and reveals how understanding this is key to informing a tailor-made strategy to improve welfare for captive elephants. This research was conducted in the context of an ongoing partnership between World Animal Protection and the Elephant Owners' Association of Sauraha, and involved interviews with stakeholders in Sauraha and Kathmandu, as well as a visitor survey. Findings show that there is an increasing interest among private elephant owners to consider alternative management styles, especially to alleviate personal liability.

English is often considered to be the international language of commerce and, more recently, e-commerce. English is also the predominant language of the internet, science, and many, the language of higher education. As a result, English tutoring institutions are thriving in the Chinese Mainland in recent years in a substantial and competitive market. The objective of this chapter is to reveal what are the factors that affect Chinese college students' selection of English tutoring institutions in China so that tutoring institution managers may focus on the most important criteria for their prospective customers. In this chapter, 212 Chinese college students participated in the online survey. The authors analyzed the correlation between purchase intention and price, brand image, service variety, and customer relationship. Through data analysis, they show that price, brand image, service variety, and customer relationships are all positively associated with Chinese college students' purchase intention of English tutoring institutions.

The objectives of this chapter are (1) to develop an instrument that incorporates the core attributes of evaluative criteria that are used by patients/customers in selecting and repeatedly visiting a community pharmacy, (2) to analyze the proposed attributes in order to put forward valid dimensions of evaluative criteria, and (3) to assess the reliability of this instrument. The selection criteria incorporated in the final list were selected based on an extensive literature review and on experts' and customers' opinions. To collect the data, a survey was conducted in the area of Macedonia, Greece. In total, 223 questionnaires were collected. Confirmatory factor analyses revealed a four-factor structure of the proposed instrument namely: price, availability of products, staff competence, and pharmaceutical care services. Moreover, reliability was assessed through Cronbach's alpha coefficient and average variance extracted. The current study outcomes can guide pharmacists' strategic actions in boosting customer patronage behavior in the highly competitive pharmaceutical sector.

Organizations have become increasingly dependent on information technologies to conduct daily operations, achieve competitive advantage and to create and penetrate new markets. This dependence has come at a high price, in 1990 U.S. companies spent over $154 billion on information technologies. However, organizations have found it difficult to measure the value added from these investments. Survey results found four significant barriers to measuring financial performance related to information technologies including: • Difficulty of measuring economic benefits • Inability to determine returns • Lack of good metrics • Incomplete records/accounting of investments The Balanced Scorecard framework provides part of the structure required to overcome these barriers. How organizations can overcome these barriers and successfully measure performance with respect to achieving strategic plans is the focus of this chapter. This chapter provides a comparison of results of two case studies regarding the use of the Balanced Scorecard measurement framework. The application of the Balanced Scorecard (BSC) is evaluated for a Fortune 500 information technology organization and a government organization. Both organizations have a business focus of software development. The BSC framework is applied and reviewed in both contexts to provide insight into unique organizational characteristics for government and contract software environments. A specific focus is to inform the use of financial measures such as Return On Investment (ROI) in the government context. The BSC framework provides the necessary structure to evaluate quantitative and qualitative information and identify the critical linkages between financial measures of past performance and key measures of future performance.

Efficient Market Hypothesis (EMH) is a cornerstone in modern finance theory. Efficient market hypothesis states that it is impossible to make abnormal returns in financial markets because financial asset prices always reflect all available information. This chapter was undertaken in order to give a brief survey of modern finance theory by mainly focusing on the efficient market hypothesis. The authors also discuss the empirical foundations of the efficient market hypothesis. Finally, the main challenges to the efficient market hypothesis are introduced in order to point out a perspective for future research.

This manuscript per the author provides a broad survey of recent literature on online price dispersion in the fields of economics, information system, and marketing, and offers a number of explanations documented in various electronic retailing markets from both the demand and supply sides, such as branding/reputation, market competition, consumer heterogeneity, dynamic pricing, and oligopoly strategies, to name a few. In addition, it also discusses several potential directions for future research in this area.

This chapter provides a broad survey of recent literature on online price dispersion in the fields of economics, information system, and marketing, and offers a number of explanations documented in various electronic retailing markets from both the demand and supply sides, such as branding/reputation, market competition, consumer heterogeneity, dynamic pricing, and oligopoly strategies, to name a few. In addition, it also discusses several potential directions for future research in this area.

Intense competition and price wars in the retail sector provide the impetus to examine consumer behavior in the retail industry. It has become increasingly important to scrutinize what drives consumer choice of retail stores. This chapter addresses this need and aims to establish the factors that drive consumer retail choice behavior. The empirical setting for the study was five organized Indian retail stores: Easy Day, Big Bazaar, More, Reliance Fresh, and Freshmart. Data were collected with the help of a questionnaire (n=700) in a store-intercept survey. Data were analyzed using multivariate data analysis techniques. A model identifying the variables that predicts retail store choice probabilities was developed and tested. Results establish that atmospherics, merchandise assortment, and customer satisfaction have a significant positive impact on retail store choice. On the other hand, price has a significant negative impact on retail store choice. Implications are discussed.

The importance of marketplaces in e-commerce has increased. More and more merchants are trying to use e-commerce platforms as a distribution channel. With the increasing competition, merchants are faced with the challenge of continuing to sell their products to consumers through marketplaces at a profit. This is especially true if the consumer has already chosen a certain product and now only decides from which merchant to buy the product. This chapter therefore examines for different customer segments which merchant-related factors — also and in particular apart from the price — influence the purchase decision. After reviewing relevant literature, various factors are identified through structured interviews. An online survey is then used to simulate a total of 3,485 purchase decisions with different factor characteristics. In addition to the price, the ratings of a merchant and the delivery time are identified as central factors influencing the purchase decision.

This chapter provides an overview of Game Theory with applications to medicine problems, including evolution of tumor cells and their competition, applications to neocortical epilepsy surgery and schizophrenic brain. Recent studies related to microarray games for cancer problems will be considered. These models may be used for applications to neurological and allergic diseases. At the end, the model of kidney exchange via the Matching Theory proposed by Alvin Roth, Nobel prize 2012, will be discussed.

The Jack-up rig market is very dynamic as it is sensitive to oil prices and drilling activities. An effective strategy must be defined to achieve a successful tender process. A market survey shall be sourced from potential bidders and credible research institutions to provide competitive cost estimation and mapped available qualified rigs. Commercial structure is another factor that must be specified clearly. Numbers of wells or long term contracts will attract more rigs to enter Indonesian water that can be achieved by collaborating with other operators. It was quite challenging to establish a rig contract at first stage of tender to cover 1 (one) year duration with an unattractive owner estimation that ended up with a failed tender. By having collaboration with the host authority, other operators and potential bidders, the new strategy to have a long term contract by increasing the number of wells and contract duration to 3 (three) years can be finalized efficiently. The enhanced commercial structure consisted of rate classification as per the Indonesian Oil, Gas and Geothermal Drilling Contractors Association, modification cost, facility support service, reimbursable cost, etc. which have attracted more bidders. Finally, the jack-up rig contract can be established and agreed within the market price. The cost saving to cover future drilling projects has resulted in a total saving of USD 9.7 Million

The debate about the “just price” has ancient origin and returns forcefully to the scene when, in the event of crises of various kinds, there is a rapid and significant increase in prices of given goods or services. In this article it is examined the problem of whether price increases of such a nature could, or should, be considered illicit under EU competition law. The central part of the article reviews different theories on what a “just price” should be and focuses on the idea that a price is “just” when it functions as index of relative scarcity in free markets. It is claimed that such a function deserves protection by EU law. Therefore, price adjustments in response to shocks cannot and should not be considered illegal: it is unacceptable to sanction private firms by attributing them the wrong of not having substituted, at their own expense, for the exercise of a public function (that of making sure that price increases do not put at risk solidarity and other constitutional principles).

The share of Concentrated Solar Power plants in power generation has increased significantly in the last decade due to the need to develop and deploy clean technologies that help reduce the carbon footprint of the power generation industry and, at the same time, are less voracious in terms of fossil fuel consumption. As a governmental support to promote the installation of solar plants, different incentives are found in most countries: complementary rates to the market price of electricity (premium), tax credits, financial support, long term power purchase agreements and, in general, other mechanisms that are generally grouped in a “feed-in tariff” that should ideally be more demanding (stringent) over time. The objective of these measures is to make this technology competitive in the mid/long term. At the same time, and in order to distribute these economical resources as fairly as possible, governments have usually limited the power output of those power plants benefitting from these incentives, as a means to prevent oligopolies that would eventually stop technology evolution while concentrating on preserving market conditions. This has led to the common 50 and 80 MW limits that exist in Spain and the USA respectively. As a consequence, OEMs and EPCs have focused on developing reliable and cost-effective CSP plants of these sizes, especially 50 MW. This work is based on unrestrained regulatory or market scenarios, with the aim of finding out which plant size yields the best efficiency at the lowest cost of electricity (COE). In other words, the objective is to establish the plant size of interest for power producers and consumers, should CSP facilities compete in the same market conditions as conventional fossil-fuel plants. The work begins by reviewing briefly the origins of the usual constraints applied to CSP plants. Then, a survey of existing literature dealing with the issue of technical and economic CSP optimization is presented, with a special focus on the work by B. Kelly from Nexant Inc. Taking this work as reference, a model of performance of parabolic trough plants developed in Thermoflex environment to put forth strong project specific feature of CSP facilites. Thermal storage and natural gas hybridization are included among the key design parameters.

Design for ease-of-repair is an efficient solution to effectively use resources by extending the lifespan of products. However, designing a repairable product may not be necessarily an economically viable solution for manufacturers. Repairable products enable independent repair businesses to compete with original manufacturers on offering repair services. On the other hand, although designing a less repairable product may dissuade competition, it increases the cost of repair for manufacturers at the same time, in addition to decreasing consumers’ satisfaction. In this paper, a game-theoretic model is developed to represent the competition between a manufacturer acting as a leader, and a coalition of independent repair service providers acting as a follower. The subgame perfect Nash equilibrium is derived, representing the optimal prices for repair services offered by the two service-providers based on the level of repairability. In addition, based on the information extracted from a repair-related survey, we provide insights about consumers’ attitudes towards repairability of products to help manufacturers make better design decisions.

Given the growing worldwide tendencies of online shopping and increasing popularity of online grocery shopping, building customer-based brand equity for online grocery stores is gaining its popularity among business owners and marketers. Building good customer-based brand equity is considered to be one of the crucial goals for online businesses that leads to successful competition and good customer experience. The aim of this research is to determine customer-based brand equity dimensions for online grocery stores. To reach the aim, this paper adopts analysis and synthesis of scientific and practical literature in the field of customer-based brand equity and empirical research of three stages: field analysis, expert interviews and customer survey. 33 dimensions of customer-based brand equity for online grocery stores grouped in 8 dimension clusters were generated from the field analysis and expert interviews. Generated dimensions were provided for the evaluation during the customer survey. Empirical research proved 31 valid dimensions of customer-based brand equity for online grocery stores evaluated as very relevant, relevant and of average relevance. Main drivers of customer-based brand equity for online grocery stores that proved to be very relevant are: saving time, good price, fresh products, quality of service, and reputation of retail chain behind.

Abstract The Nigeria oil and gas industry is a highly capital intensive market. with possibility of high profit or great losses. Oil price trends over the last 3 decades shows cyclical and relatively high volatility. This is due to geopolitical and economic factors including dollar value, governments and organizations (like OPEC's actions), that influence global supply and demand. In 2020, due to the COVID-19 crises, public health became a key factor influencing oil price (due to its severe adverse impact on demand). Studies have shown that even an increase in production volumes will not be able to bring about profitability in the industry. Clearly, management of costs including a lean supply chain that ensures that material/services for production are available at the right price and time is critical for the profitability of future oil and gas supply. Oil producing firms require an optimum supply level of material and services to competitively deliver its end-product. This paper discusses the effect of LEAN supply chain management on the profitability of oil & gas firms in Nigeria. It also appraises the relationship between lean processes and operational efficiency of oil and gas producing companies. Using quantitative and descriptive research design methods, an online survey has been used to gather information from respondents from different oil and gas companies. Secondary data was also obtained from annual reports of relevant companies to show their crude oil production levels vis-à-vis profitability over a five-year period. Based on analysis of information received from the research conducted, it has been recommended that better supply related collaboration between the organizations in the industry is necessary for sustained profitability. Companies need to link upstream and downstream flows of products, services and information to help reduce costs, wastages and ensure profitability. In, line with this, steps have been proferred to establish lean processes for organization. The researcher concludes that established industry-wide lean supply chain management processes and practices and collaboration e critical to competiveness and sustainable profitability in the oil and gas industry.

Abstract For five years now Stanford’s Mechanical Engineering Design Division has experimented with restrictions on how students choose the members of their design teams. The constraints are based on voluntary student responses to a short questionnaire, essentially a sampling of questions from the Myers-Briggs Type Indicator widely used for vocational and educational counseling. This has produced teams performing qualitatively and quantitatively better, as measured by prizes won in the nationwide Lincoln Foundation Design Competition, than did teams of the thirteen years preceding. In 1995, Stanford teams won all but two of the twelve prizes awarded. This article describes these experiments, lists the results, describes how to construct a suitable questionnaire, reviews pertinent psychological theory, and gives mathematically precise instructions for constraining construction of the teams. The current procedure also incorporates information obtained from a recent survey on team satisfaction in a different project design course. This modified method seeks to generate satisfied teams without sacrificing prize-winning ability.

Since reform and opening up, the development of Chinese urban and rural areas has shown an evolution of integration from isolation. The government promulgated national policies and related planning strategies, aiming at realizing the goal of rural revitalization through the system reform and planning adjustment of balancing urban and rural development. In the complex process of social development, there are many problems with rural areas, such as lack of infrastructure, unbalanced economic development, dilapidated living environment and insufficient sharing between urban and rural areas. On the premise of meeting the requirements of national laws and policies, this paper takes the planning of Batang village in Yunfu city of Guangdong province as an example. Combine with ReBAM theory to make sure Batang village is suit for developing tourism. And based on field survey made a Batang plan by planning knowledge. Through literature review and field survey to explore how to realize the revitalization of the rural areas under the development mode of balancing urban and rural development. The conclusion of the research took rural tourism as the breakthrough point, and formed complementary and dislocation development mode with the city. In living aspect, the research optimized infrastructure and improved people's living environment as well as summarized cultural elements to inherit rural civilization. In production aspect, it exploited rural commercial potential and income-generating path, and completed the transformation from passive development to active revitalization to achieve prosperity industry and life. In ecology aspect, it combined with sustainable development model to create an ecological and livable rural landscape. At last, the research established urban and rural co-management system and shared rural information platform to achieve effective governance, to ensure that tourism mode as a starting point for rural revitalization planning can be sustainable development. The research of this paper practiced the national experience of rural revitalization as a pilot project, facilitated the implementation of relevant policies and supported planning for rural revitalization, and explored the methods of rural revitalization under the background of balancing urban and rural development. Based on the acceptance of the plan by local villagers, the approval of Guangdong Postgraduate Education Innovation Project in 2018 and got the third prize of National Competition for Ecological Wisdom Inspired Urban and Rural Practice in 2019, it is hoped that the research will contribute to the rural revitalization under the background of balancing urban and rural development.

The Brazilian Rail Regulatory Framework was reviewed in 2011 by the National In Land Transport Agency (ANTT), with the edition of a package of Regulatory Resolutions (Resolution nº. 3,694 - Regulation of General Rules for Shippers and Rail Companies, Resolution nº. 3,695 - Regulation of Trackage and Haulage Rights, and Resolution nº. 3,696 - Regulation for Stretch Production Targets and Safety Targets Procedure Agreements) with the basic objectives of: i) create incentives for rail interoperability, ii) promote intra sector competition and, hence, enhance rail role in the national transport sector, and iii) establish new funding sources for the rail sector, in order to support investments needed for increasing rail system capacity. These, together with other structural measures already adopted by ANTT, such as the regulation of investments made by rail concessionaires and the revision of rail price cap rates, complemented the package of rail regulatory measures. For the effective implementation of the principles set out in the mentioned rail regulatory framework review, however, it was necessary to develop a sort of tools to allow regulatory control and reduce asymmetric information within the actors of this important industry. Among these tools, it is highlighted the Rail Network Statement, established by Resolution ANTT nº. 3,695/2011, basically composed of a compilation of the existing rail network main operational and technical data, such as rail gauges, load capacities, operational speeds, clearances, location of locomotives and wagons repair facilities as well as fuel stations, including an inventory of traffic capacity, with a survey of available capacity in all sections of the national rail network. This dataset was intended to reduce asymmetric information between rail industry players - Regulatory Authority, Rail Carriers and Shippers, and, so, enhance the negotiation processes for interoperability operations and investments agreements. Rail Network Statement must be filed annually by Concessionaires, and after a critical analysis and data review by the regulatory agency, it is released on its website for public access to support rail interoperability planning and negotiation process. This work is supposed to present an overview of Brazilian Rail Network Statement structure, with a Case Study Analysis of 2013 Edition, the first issued, with a strong focus on rail capacity analysis, an essential requirement for rail interoperability.

The BeefLedger Export Smart Contracts project is a collaborative research study between BeefLedger Ltd and QUT co-funded by the Food Agility CRC. This project exists to deliver economic value to those involved in the production, export and consumption of Australian beef to China through: (1) reduced information asymmetry; (2) streamlined compliance processes, and; (3) developing and accessing new data-driven value drivers, through the deployment of decentralised ledger technologies and associated governance systems. This report presents early insights from a survey deployed to Chinese consumers in Nov/Dec 2019 exploring attitudes and preferences about blockchain-credentialed beef exports to China. Our results show that most local and foreign consumers were willing to pay more than the reference price for a BeefLedger branded Australian cut and packed Sirloin steak at the same weight. Although considered superior over Chinese processed Australian beef products, the Chinese market were sceptical that the beef they buy was really from Australia, expressing low trust in Australian label and traceability information. Despite lower trust, most survey respondents were willing to pay more for traceability supported Australian beef, potentially because including this information provided an additional sense of safety. Therefore, traceability information should be provided to consumers, as it can add a competitive advantage over products without traceability.

How are natives attitudes towards migrants shaped by economic crises? Natives could show more compassion towards migrants as everyone faces a common threat. Alternatively, natives prejudice could rise as competition for scarce economic opportunities increases. We conduct an online survey to 3,400 Colombian citizens and randomly prime half of them to think about the economic consequences of COVID-19, before eliciting their altruism and attitudes towards Venezuelan migrants. We find that natives attitudes towards migrants are substantially more negative in the treatment relative to the control group. Individuals ages 18 to 25 years, however, respond to the treatment by showing more altruism.

1.1 Macroeconomic summary Economic recovery has consistently outperformed the technical staff’s expectations following a steep decline in activity in the second quarter of 2020. At the same time, total and core inflation rates have fallen and remain at low levels, suggesting that a significant element of the reactivation of Colombia’s economy has been related to recovery in potential GDP. This would support the technical staff’s diagnosis of weak aggregate demand and ample excess capacity. The most recently available data on 2020 growth suggests a contraction in economic activity of 6.8%, lower than estimates from January’s Monetary Policy Report (-7.2%). High-frequency indicators suggest that economic performance was significantly more dynamic than expected in January, despite mobility restrictions and quarantine measures. This has also come amid declines in total and core inflation, the latter of which was below January projections if controlling for certain relative price changes. This suggests that the unexpected strength of recent growth contains elements of demand, and that excess capacity, while significant, could be lower than previously estimated. Nevertheless, uncertainty over the measurement of excess capacity continues to be unusually high and marked both by variations in the way different economic sectors and spending components have been affected by the pandemic, and by uneven price behavior. The size of excess capacity, and in particular the evolution of the pandemic in forthcoming quarters, constitute substantial risks to the macroeconomic forecast presented in this report. Despite the unexpected strength of the recovery, the technical staff continues to project ample excess capacity that is expected to remain on the forecast horizon, alongside core inflation that will likely remain below the target. Domestic demand remains below 2019 levels amid unusually significant uncertainty over the size of excess capacity in the economy. High national unemployment (14.6% for February 2021) reflects a loose labor market, while observed total and core inflation continue to be below 2%. Inflationary pressures from the exchange rate are expected to continue to be low, with relatively little pass-through on inflation. This would be compatible with a negative output gap. Excess productive capacity and the expectation of core inflation below the 3% target on the forecast horizon provide a basis for an expansive monetary policy posture. The technical staff’s assessment of certain shocks and their expected effects on the economy, as well as the presence of several sources of uncertainty and related assumptions about their potential macroeconomic impacts, remain a feature of this report. The coronavirus pandemic, in particular, continues to affect the public health environment, and the reopening of Colombia’s economy remains incomplete. The technical staff’s assessment is that the COVID-19 shock has affected both aggregate demand and supply, but that the impact on demand has been deeper and more persistent. Given this persistence, the central forecast accounts for a gradual tightening of the output gap in the absence of new waves of contagion, and as vaccination campaigns progress. The central forecast continues to include an expected increase of total and core inflation rates in the second quarter of 2021, alongside the lapse of the temporary price relief measures put in place in 2020. Additional COVID-19 outbreaks (of uncertain duration and intensity) represent a significant risk factor that could affect these projections. Additionally, the forecast continues to include an upward trend in sovereign risk premiums, reflected by higher levels of public debt that in the wake of the pandemic are likely to persist on the forecast horizon, even in the context of a fiscal adjustment. At the same time, the projection accounts for the shortterm effects on private domestic demand from a fiscal adjustment along the lines of the one currently being proposed by the national government. This would be compatible with a gradual recovery of private domestic demand in 2022. The size and characteristics of the fiscal adjustment that is ultimately implemented, as well as the corresponding market response, represent another source of forecast uncertainty. Newly available information offers evidence of the potential for significant changes to the macroeconomic scenario, though without altering the general diagnosis described above. The most recent data on inflation, growth, fiscal policy, and international financial conditions suggests a more dynamic economy than previously expected. However, a third wave of the pandemic has delayed the re-opening of Colombia’s economy and brought with it a deceleration in economic activity. Detailed descriptions of these considerations and subsequent changes to the macroeconomic forecast are presented below. The expected annual decline in GDP (-0.3%) in the first quarter of 2021 appears to have been less pronounced than projected in January (-4.8%). Partial closures in January to address a second wave of COVID-19 appear to have had a less significant negative impact on the economy than previously estimated. This is reflected in figures related to mobility, energy demand, industry and retail sales, foreign trade, commercial transactions from selected banks, and the national statistics agency’s (DANE) economic tracking indicator (ISE). Output is now expected to have declined annually in the first quarter by 0.3%. Private consumption likely continued to recover, registering levels somewhat above those from the previous year, while public consumption likely increased significantly. While a recovery in investment in both housing and in other buildings and structures is expected, overall investment levels in this case likely continued to be low, and gross fixed capital formation is expected to continue to show significant annual declines. Imports likely recovered to again outpace exports, though both are expected to register significant annual declines. Economic activity that outpaced projections, an increase in oil prices and other export products, and an expected increase in public spending this year account for the upward revision to the 2021 growth forecast (from 4.6% with a range between 2% and 6% in January, to 6.0% with a range between 3% and 7% in April). As a result, the output gap is expected to be smaller and to tighten more rapidly than projected in the previous report, though it is still expected to remain in negative territory on the forecast horizon. Wide forecast intervals reflect the fact that the future evolution of the COVID-19 pandemic remains a significant source of uncertainty on these projections. The delay in the recovery of economic activity as a result of the resurgence of COVID-19 in the first quarter appears to have been less significant than projected in the January report. The central forecast scenario expects this improved performance to continue in 2021 alongside increased consumer and business confidence. Low real interest rates and an active credit supply would also support this dynamic, and the overall conditions would be expected to spur a recovery in consumption and investment. Increased growth in public spending and public works based on the national government’s spending plan (Plan Financiero del Gobierno) are other factors to consider. Additionally, an expected recovery in global demand and higher projected prices for oil and coffee would further contribute to improved external revenues and would favor investment, in particular in the oil sector. Given the above, the technical staff’s 2021 growth forecast has been revised upward from 4.6% in January (range from 2% to 6%) to 6.0% in April (range from 3% to 7%). These projections account for the potential for the third wave of COVID-19 to have a larger and more persistent effect on the economy than the previous wave, while also supposing that there will not be any additional significant waves of the pandemic and that mobility restrictions will be relaxed as a result. Economic growth in 2022 is expected to be 3%, with a range between 1% and 5%. This figure would be lower than projected in the January report (3.6% with a range between 2% and 6%), due to a higher base of comparison given the upward revision to expected GDP in 2021. This forecast also takes into account the likely effects on private demand of a fiscal adjustment of the size currently being proposed by the national government, and which would come into effect in 2022. Excess in productive capacity is now expected to be lower than estimated in January but continues to be significant and affected by high levels of uncertainty, as reflected in the wide forecast intervals. The possibility of new waves of the virus (of uncertain intensity and duration) represents a significant downward risk to projected GDP growth, and is signaled by the lower limits of the ranges provided in this report. Inflation (1.51%) and inflation excluding food and regulated items (0.94%) declined in March compared to December, continuing below the 3% target. The decline in inflation in this period was below projections, explained in large part by unanticipated increases in the costs of certain foods (3.92%) and regulated items (1.52%). An increase in international food and shipping prices, increased foreign demand for beef, and specific upward pressures on perishable food supplies appear to explain a lower-than-expected deceleration in the consumer price index (CPI) for foods. An unexpected increase in regulated items prices came amid unanticipated increases in international fuel prices, on some utilities rates, and for regulated education prices. The decline in annual inflation excluding food and regulated items between December and March was in line with projections from January, though this included downward pressure from a significant reduction in telecommunications rates due to the imminent entry of a new operator. When controlling for the effects of this relative price change, inflation excluding food and regulated items exceeds levels forecast in the previous report. Within this indicator of core inflation, the CPI for goods (1.05%) accelerated due to a reversion of the effects of the VAT-free day in November, which was largely accounted for in February, and possibly by the transmission of a recent depreciation of the peso on domestic prices for certain items (electric and household appliances). For their part, services prices decelerated and showed the lowest rate of annual growth (0.89%) among the large consumer baskets in the CPI. Within the services basket, the annual change in rental prices continued to decline, while those services that continue to experience the most significant restrictions on returning to normal operations (tourism, cinemas, nightlife, etc.) continued to register significant price declines. As previously mentioned, telephone rates also fell significantly due to increased competition in the market. Total inflation is expected to continue to be affected by ample excesses in productive capacity for the remainder of 2021 and 2022, though less so than projected in January. As a result, convergence to the inflation target is now expected to be somewhat faster than estimated in the previous report, assuming the absence of significant additional outbreaks of COVID-19. The technical staff’s year-end inflation projections for 2021 and 2022 have increased, suggesting figures around 3% due largely to variation in food and regulated items prices. The projection for inflation excluding food and regulated items also increased, but remains below 3%. Price relief measures on indirect taxes implemented in 2020 are expected to lapse in the second quarter of 2021, generating a one-off effect on prices and temporarily affecting inflation excluding food and regulated items. However, indexation to low levels of past inflation, weak demand, and ample excess productive capacity are expected to keep core inflation below the target, near 2.3% at the end of 2021 (previously 2.1%). The reversion in 2021 of the effects of some price relief measures on utility rates from 2020 should lead to an increase in the CPI for regulated items in the second half of this year. Annual price changes are now expected to be higher than estimated in the January report due to an increased expected path for fuel prices and unanticipated increases in regulated education prices. The projection for the CPI for foods has increased compared to the previous report, taking into account certain factors that were not anticipated in January (a less favorable agricultural cycle, increased pressure from international prices, and transport costs). Given the above, year-end annual inflation for 2021 and 2022 is now expected to be 3% and 2.8%, respectively, which would be above projections from January (2.3% and 2,7%). For its part, expected inflation based on analyst surveys suggests year-end inflation in 2021 and 2022 of 2.8% and 3.1%, respectively. There remains significant uncertainty surrounding the inflation forecasts included in this report due to several factors: 1) the evolution of the pandemic; 2) the difficulty in evaluating the size and persistence of excess productive capacity; 3) the timing and manner in which price relief measures will lapse; and 4) the future behavior of food prices. Projected 2021 growth in foreign demand (4.4% to 5.2%) and the supposed average oil price (USD 53 to USD 61 per Brent benchmark barrel) were both revised upward. An increase in long-term international interest rates has been reflected in a depreciation of the peso and could result in relatively tighter external financial conditions for emerging market economies, including Colombia. Average growth among Colombia’s trade partners was greater than expected in the fourth quarter of 2020. This, together with a sizable fiscal stimulus approved in the United States and the onset of a massive global vaccination campaign, largely explains the projected increase in foreign demand growth in 2021. The resilience of the goods market in the face of global crisis and an expected normalization in international trade are additional factors. These considerations and the expected continuation of a gradual reduction of mobility restrictions abroad suggest that Colombia’s trade partners could grow on average by 5.2% in 2021 and around 3.4% in 2022. The improved prospects for global economic growth have led to an increase in current and expected oil prices. Production interruptions due to a heavy winter, reduced inventories, and increased supply restrictions instituted by producing countries have also contributed to the increase. Meanwhile, market forecasts and recent Federal Reserve pronouncements suggest that the benchmark interest rate in the U.S. will remain stable for the next two years. Nevertheless, a significant increase in public spending in the country has fostered expectations for greater growth and inflation, as well as increased uncertainty over the moment in which a normalization of monetary policy might begin. This has been reflected in an increase in long-term interest rates. In this context, emerging market economies in the region, including Colombia, have registered increases in sovereign risk premiums and long-term domestic interest rates, and a depreciation of local currencies against the dollar. Recent outbreaks of COVID-19 in several of these economies; limits on vaccine supply and the slow pace of immunization campaigns in some countries; a significant increase in public debt; and tensions between the United States and China, among other factors, all add to a high level of uncertainty surrounding interest rate spreads, external financing conditions, and the future performance of risk premiums. The impact that this environment could have on the exchange rate and on domestic financing conditions represent risks to the macroeconomic and monetary policy forecasts. Domestic financial conditions continue to favor recovery in economic activity. The transmission of reductions to the policy interest rate on credit rates has been significant. The banking portfolio continues to recover amid circumstances that have affected both the supply and demand for loans, and in which some credit risks have materialized. Preferential and ordinary commercial interest rates have fallen to a similar degree as the benchmark interest rate. As is generally the case, this transmission has come at a slower pace for consumer credit rates, and has been further delayed in the case of mortgage rates. Commercial credit levels stabilized above pre-pandemic levels in March, following an increase resulting from significant liquidity requirements for businesses in the second quarter of 2020. The consumer credit portfolio continued to recover and has now surpassed February 2020 levels, though overall growth in the portfolio remains low. At the same time, portfolio projections and default indicators have increased, and credit establishment earnings have come down. Despite this, credit disbursements continue to recover and solvency indicators remain well above regulatory minimums. 1.2 Monetary policy decision In its meetings in March and April the BDBR left the benchmark interest rate unchanged at 1.75%.

This report maps the African landscape of Open Science – with a focus on Open Data as a sub-set of Open Science. Data to inform the landscape study were collected through a variety of methods, including surveys, desk research, engagement with a community of practice, networking with stakeholders, participation in conferences, case study presentations, and workshops hosted. Although the majority of African countries (35 of 54) demonstrates commitment to science through its investment in research and development (R&D), academies of science, ministries of science and technology, policies, recognition of research, and participation in the Science Granting Councils Initiative (SGCI), the following countries demonstrate the highest commitment and political willingness to invest in science: Botswana, Ethiopia, Kenya, Senegal, South Africa, Tanzania, and Uganda. In addition to existing policies in Science, Technology and Innovation (STI), the following countries have made progress towards Open Data policies: Botswana, Kenya, Madagascar, Mauritius, South Africa and Uganda. Only two African countries (Kenya and South Africa) at this stage contribute 0.8% of its GDP (Gross Domestic Product) to R&D (Research and Development), which is the closest to the AU’s (African Union’s) suggested 1%. Countries such as Lesotho and Madagascar ranked as 0%, while the R&D expenditure for 24 African countries is unknown. In addition to this, science globally has become fully dependent on stable ICT (Information and Communication Technologies) infrastructure, which includes connectivity/bandwidth, high performance computing facilities and data services. This is especially applicable since countries globally are finding themselves in the midst of the 4th Industrial Revolution (4IR), which is not only “about” data, but which “is” data. According to an article1 by Alan Marcus (2015) (Senior Director, Head of Information Technology and Telecommunications Industries, World Economic Forum), “At its core, data represents a post-industrial opportunity. Its uses have unprecedented complexity, velocity and global reach. As digital communications become ubiquitous, data will rule in a world where nearly everyone and everything is connected in real time. That will require a highly reliable, secure and available infrastructure at its core, and innovation at the edge.” Every industry is affected as part of this revolution – also science. An important component of the digital transformation is “trust” – people must be able to trust that governments and all other industries (including the science sector), adequately handle and protect their data. This requires accountability on a global level, and digital industries must embrace the change and go for a higher standard of protection. “This will reassure consumers and citizens, benefitting the whole digital economy”, says Marcus. A stable and secure information and communication technologies (ICT) infrastructure – currently provided by the National Research and Education Networks (NRENs) – is key to advance collaboration in science. The AfricaConnect2 project (AfricaConnect (2012–2014) and AfricaConnect2 (2016–2018)) through establishing connectivity between National Research and Education Networks (NRENs), is planning to roll out AfricaConnect3 by the end of 2019. The concern however is that selected African governments (with the exception of a few countries such as South Africa, Mozambique, Ethiopia and others) have low awareness of the impact the Internet has today on all societal levels, how much ICT (and the 4th Industrial Revolution) have affected research, and the added value an NREN can bring to higher education and research in addressing the respective needs, which is far more complex than simply providing connectivity. Apart from more commitment and investment in R&D, African governments – to become and remain part of the 4th Industrial Revolution – have no option other than to acknowledge and commit to the role NRENs play in advancing science towards addressing the SDG (Sustainable Development Goals). For successful collaboration and direction, it is fundamental that policies within one country are aligned with one another. Alignment on continental level is crucial for the future Pan-African African Open Science Platform to be successful. Both the HIPSSA ((Harmonization of ICT Policies in Sub-Saharan Africa)3 project and WATRA (the West Africa Telecommunications Regulators Assembly)4, have made progress towards the regulation of the telecom sector, and in particular of bottlenecks which curb the development of competition among ISPs. A study under HIPSSA identified potential bottlenecks in access at an affordable price to the international capacity of submarine cables and suggested means and tools used by regulators to remedy them. Work on the recommended measures and making them operational continues in collaboration with WATRA. In addition to sufficient bandwidth and connectivity, high-performance computing facilities and services in support of data sharing are also required. The South African National Integrated Cyberinfrastructure System5 (NICIS) has made great progress in planning and setting up a cyberinfrastructure ecosystem in support of collaborative science and data sharing. The regional Southern African Development Community6 (SADC) Cyber-infrastructure Framework provides a valuable roadmap towards high-speed Internet, developing human capacity and skills in ICT technologies, high- performance computing and more. The following countries have been identified as having high-performance computing facilities, some as a result of the Square Kilometre Array7 (SKA) partnership: Botswana, Ghana, Kenya, Madagascar, Mozambique, Mauritius, Namibia, South Africa, Tunisia, and Zambia. More and more NRENs – especially the Level 6 NRENs 8 (Algeria, Egypt, Kenya, South Africa, and recently Zambia) – are exploring offering additional services; also in support of data sharing and transfer. The following NRENs already allow for running data-intensive applications and sharing of high-end computing assets, bio-modelling and computation on high-performance/ supercomputers: KENET (Kenya), TENET (South Africa), RENU (Uganda), ZAMREN (Zambia), EUN (Egypt) and ARN (Algeria). Fifteen higher education training institutions from eight African countries (Botswana, Benin, Kenya, Nigeria, Rwanda, South Africa, Sudan, and Tanzania) have been identified as offering formal courses on data science. In addition to formal degrees, a number of international short courses have been developed and free international online courses are also available as an option to build capacity and integrate as part of curricula. The small number of higher education or research intensive institutions offering data science is however insufficient, and there is a desperate need for more training in data science. The CODATA-RDA Schools of Research Data Science aim at addressing the continental need for foundational data skills across all disciplines, along with training conducted by The Carpentries 9 programme (specifically Data Carpentry 10 ). Thus far, CODATA-RDA schools in collaboration with AOSP, integrating content from Data Carpentry, were presented in Rwanda (in 2018), and during17-29 June 2019, in Ethiopia. Awareness regarding Open Science (including Open Data) is evident through the 12 Open Science-related Open Access/Open Data/Open Science declarations and agreements endorsed or signed by African governments; 200 Open Access journals from Africa registered on the Directory of Open Access Journals (DOAJ); 174 Open Access institutional research repositories registered on openDOAR (Directory of Open Access Repositories); 33 Open Access/Open Science policies registered on ROARMAP (Registry of Open Access Repository Mandates and Policies); 24 data repositories registered with the Registry of Data Repositories (re3data.org) (although the pilot project identified 66 research data repositories); and one data repository assigned the CoreTrustSeal. Although this is a start, far more needs to be done to align African data curation and research practices with global standards. Funding to conduct research remains a challenge. African researchers mostly fund their own research, and there are little incentives for them to make their research and accompanying data sets openly accessible. Funding and peer recognition, along with an enabling research environment conducive for research, are regarded as major incentives. The landscape report concludes with a number of concerns towards sharing research data openly, as well as challenges in terms of Open Data policy, ICT infrastructure supportive of data sharing, capacity building, lack of skills, and the need for incentives. Although great progress has been made in terms of Open Science and Open Data practices, more awareness needs to be created and further advocacy efforts are required for buy-in from African governments. A federated African Open Science Platform (AOSP) will not only encourage more collaboration among researchers in addressing the SDGs, but it will also benefit the many stakeholders identified as part of the pilot phase. The time is now, for governments in Africa, to acknowledge the important role of science in general, but specifically Open Science and Open Data, through developing and aligning the relevant policies, investing in an ICT infrastructure conducive for data sharing through committing funding to making NRENs financially sustainable, incentivising open research practices by scientists, and creating opportunities for more scientists and stakeholders across all disciplines to be trained in data management.