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1
Cortes, Armando, Megan Park, and Bryan C. McCarthy. "Drug purchase price volatility in an academic medical center." American Journal of Health-System Pharmacy 78, Supplement_2 (March 16, 2021): S33—S37. http://dx.doi.org/10.1093/ajhp/zxaa422.
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Abstract Purpose Inpatient drug purchase price trends at an 811-bed academic medical center are described. Summary Recent highly publicized drug price increases by pharmaceutical manufacturers have generated public interest in regulatory solutions to reduce drug costs. Monitoring drug price changes through internal dashboards has been demonstrated to aid in purchasing decisions to reduce the impact of drug price changes on inpatient pharmacy drug budgets. In this research, University of Chicago Medicine created an internal dashboard to detail specific inpatient drug purchase price trends. Dashboard data input included all medications purchased through the organization’s group purchasing organization over a 25-month time frame. A total of 69,245 drug purchases of 2,432 unique medications and/or dosage strengths were analyzed in the study. Within the 25-month time period, 706 medications (29%) had a net drug purchase price increase, while 898 (37%) had a net drug purchase price decrease. The range of net price percentage changes for medications with price increases was 0.01% to 733.6%; the range for medications with price decreases was 0.01% to 97.5%. Conclusion Relative to previous purchase prices, drug purchase prices decreased or remained the same more often than they increased over a 25-month time frame. However, drug purchase price percentage changes were far greater for medications whose prices increased rather than decreased.
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Ren, Pengyu, Zhaoji Li, Weiguang Cai, Lina Ran, and Lei Gan. "Heterogeneity Analysis of Urban Rail Transit on Housing with Different Price Levels: A Case Study of Chengdu, China." Land 10, no. 12 (December 3, 2021): 1330. http://dx.doi.org/10.3390/land10121330.
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The impact of urban rail transit on housing prices has attracted the extensive attention of scholars, but few studies have explored the heterogeneous impact of rail transit on housing prices with different price levels. To solve this problem, we adopted the hedonic price model based on ordinary least squares regression as a supplementary method of quantile regression to study the heterogeneous impact of the Chengdu Metro system on low-, middle-, and high-priced housing. The result shows that the housing price rises first, then falls with the distance from the housing to the nearest subway station. Besides, the influence of transportation accessibility on low-, middle-, and high-priced housing decreases progressively. This research can provide a reference for the government’s transportation planning and decision-making.
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Lass, Daniel A., Mawunyo Adanu, and P. Geoffrey Allen. "Impacts of the Northeast Dairy Compact on New England Retail Prices." Agricultural and Resource Economics Review 30, no. 1 (April 2001): 83–92. http://dx.doi.org/10.1017/s1068280500000575.
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Northeast Dairy Compact impacts were estimated for Boston and Hartford retail prices using an econometric model. Asymmetric speeds of adjustment to farm price increases and decreases were found; however, tests indicated that retail prices do return to the same level following equal farm price increases and decreases. Model forecasts suggested no structural changes occurred during the out-of-sample period, July 1996 through June 1998. Simulations with and without the Compact predicted lower retail fluid milk price impacts than actual July 1997 changes. These predicted impacts separate the effects of farm price changes on retail prices from possibly confounding effects.
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Dwitomo, Ryan Riwanto, Shadiya Nada Syahrani, Calvin Zovian, Imam Sybro M, Glenn Darmadi, Tiara Diva Lidya Asliyah, M. Diva Rifandi Andana, and Muhammad Ardiansyah. "Relationship between the price of raw materials of fabric with the amount of production produced." Priviet Social Sciences Journal 1, no. 1 (July 5, 2021): 12–15. http://dx.doi.org/10.55942/pssj.v1i1.18.
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Production is an activity carried out by a company to add use to an object or create new objects that are more useful for everyone to meet their needs. The Covid-19 pandemic has had a major impact on the textile sector. During this pandemic, demand in the local market has decreased significantly. The stock of goods owned by the local market cannot accommodate the decrease in demand. For convection or garment companies, the price of raw materials has increased by up to 30%. This increase certainly has an impact that makes it difficult to get raw materials for the production process. These results indicate that when the price of raw materials increases, there will be an increase in production, but when the price of raw materials decreases, it will make production decreases. An increase in production when the price of raw materials increases is a sign that garment business actors are still trying to meet consumer needs for garment products. This also indicates that garment entrepreneurs continue to increase production when raw material prices increase, which indirectly indicates that the garment industry has good potential to survive the COVID-19 pandemic.
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El-Karimi, Mounir, and El-Ghini Ahmed. "The Transmission of Global Commodity Prices to Consumer Prices in a Commodity Import-Dependent Country: Evidence from Morocco." Scientific Annals of Economics and Business 67, no. 1 (March 2020): 15–32. http://dx.doi.org/10.47743/saeb-2020-0002.
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This paper uses the Breitung and Candelon (2006) causality test to examine the effect of global oil and food price changes on the inflation in Morocco over the period from 1998Q1 to 2018Q1. The results show significant transmission from oil and food prices to domestic inflation. Specifically, the food prices are shown more important than oil prices in explaining inflation in the short-run, which reflects the high weight of food in the consumption basket. However, the effect of oil prices on inflation is much more persistent than the effect of food prices. Furthermore, the impact of commodity price shocks on inflation exhibits asymmetries. The oil price hikes affect more weakly the inflation than oil price decreases, whereas the food price increases are more transmitted to inflation than food price decreases. Our findings may provide useful information to researchers and policymakers in formulating more appropriate monetary policy.
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Nurfaizah, Khanifah. "GOVERNMENT INTERVENTION IN DETERMINING PRICES ACCORDING TO IBN TAIMIYAH’S." Airlangga International Journal of Islamic Economics and Finance 2, no. 2 (July 18, 2020): 97. http://dx.doi.org/10.20473/aijief.v2i2.20821.
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Government intervention in pricing, has always been debated among economists. Islam as a religion which the last has a good economic outlook in terms of micro, macro as well as domestic scale, regional and even international. Prophet was the first in Taimiyah’s book by the public regarding the intervention price, at the time of the Prophet give answers like the following hadith "From Anas bin Malik, he said: the price of goods once expensive at the time of the Prophet. then people said: Messenger of Allah, the prices to be expensive, set a standard price for us, the Messenger of Allah said: Surely it is God who sets the price, holding and distributing rizki, and indeed just hoped that I could meet Allah in a state no one among you who prosecute me because of the injustice in the bloodshed (killer) and treasures. "(HR. Abu Dawud, Ahmad, Tirmidhi and Ibn Majah)" based on the tradition is causing debate among scientists, they have a different view of these traditions. One of them Muslim scientist Ibn Taymiyyah who see his government intervention in pricing, Ibn Taymiyyah was found Ibn Taymiyyah, found the price to be considered by the forces of supply and demand. Due to a shortfall in production or a decrease in imports of goods requested. So, if the need to increase the number of goods, while the ability to provide it decreases, prices will naturally increased. Determines prices by Ibn Taymiyyah can be divided into two types, namely injustice and tyranny of elements. found the price to be considered by the forces of supply and demand. due to a shortfallin production or a decrease in imports of goods requested. So, if the need to increase the number of goods, while the ability to provide it decreases, prices will naturally increased. Determines prices by Ibn Taymiyyah can be divided into two types, namely injustice and tyranny of elements. found the price to be considered by the forces of supply and demand. due to a shortfall in production or a decrease in imports of goods requested. So, if the need to increase the number of goods, while the ability to provide it decreases, prices will naturally increased. Determines prices by Ibn Taymiyyah can be divided into two types, namely injustice and tyranny of elements. Intervention pricing allowed even obligatory in Islam for the benefit of welfaresociety.
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Triantafyllidou, Anna, Persefoni Polychronidou, and Ioannis Mantzaris. "International Oil Price and Domestic Refinery Price: Empirical Evidence for Greece." WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS 20 (December 1, 2023): 2684–91. http://dx.doi.org/10.37394/23207.2023.20.228.
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Fuel prices and the pronounced fluctuations in the international oil market are among the most widely discussed topics worldwide. Recent international developments, including energy crises, have resulted in a substantial surge in global oil prices, leading to price increases across all countries and in all petroleum products. This paper investigates the correlation between international oil prices and refining costs in Greece. More specifically, this study focuses on how rapidly refinery prices respond to potential increases or decreases in the international oil price, commonly known as the ’Rockets and Feathers’ phenomenon. The investigation assesses the reaction of diesel and gasoline refinery prices to fluctuations in the international oil price and explores the potential presence of asymmetry. The econometric model employed is based on an asymmetric error correction model, utilizing weekly data spanning from 2013 to 2022 for Greece. According to our findings, both diesel and 95-octane gasoline prices exhibit an asymmetric response to international oil prices. Notably, refinery prices react more promptly to price increases than to decreases in the global oil price. This study holds particular significance, as this delay is reflected in final retail prices, indicating the possible existence of pricing asymmetries. Additionally, the issue of oil purchase contracts arises, which guarantee a fixed price regardless of the prevailing international oil price at the time and, consequently, do not justify such fluctuations in refinery prices. These findings could prove valuable for competition policy within Greece’s vertical oil market.
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Riikonen, Antti, Timo Smura, and Juuso Töyli. "Price and Sales Volume Patterns of Mobile Handsets and Technologies." International Journal of Business Data Communications and Networking 11, no. 2 (July 2015): 22–39. http://dx.doi.org/10.4018/ijbdcn.2015070102.
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This article provides empirical evidence on the price and unit sales volume patterns of mobile handsets and mobile technologies, using data on the Finnish market. The prices and sales are studied on product category, product model, and product feature levels. The results show how the dynamic of prices and sales changed after the proliferation of smartphones. Otherwise, the dynamics seem to be relatively systematic supporting the use of simple assumptions in practical estimations. The median price of handset models decreases linearly, from 89% of the introduction price at peak sales in the fifth sales month to 47% in in two years. For mobile handset features, a decreasing price pattern was also identified. After a 10% market share is reached, the decrease is on average 30 Euros per 10% market share change. The prices at feature takeoff were identified to be on average at 58% of introduction price.
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Radchenko, Stanislav. "Oil price volatility and the asymmetric response of gasoline prices to oil price increases and decreases." Energy Economics 27, no. 5 (September 2005): 708–30. http://dx.doi.org/10.1016/j.eneco.2005.06.001.
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Carley, D. H., S. M. Fletcher, and P. Zhang. "Estimated Impact of Various Consumer and Policy Factors on Peanut Product Consumption1." Peanut Science 21, no. 1 (January 1, 1994): 34–39. http://dx.doi.org/10.3146/i0095-3679-21-1-9.
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Abstract After reaching 585,000 mt of shelled peanuts (Arachis hypogaea L.) used in peanut butter and snack peanuts in 1989, use has decreased. In a national survey consumers agreed strongly that peanuts were good tasting, a good source of protein, and could be part of a balanced diet. Less than one-half agreed that peanuts are a healthy snack and are low in saturated fat. When thinking of snack foods, peanuts were placed low on the list of preferences. In policy discussions, price is mentioned as the factor that may inhibit consumption growth. Retail price data on peanut butter and peanut snacks indicated a wide range in prices among cities, among stores within cities, and among brands. The farmer's share of the retail price of a jar of peanut butter averages 26%. Retail prices increased 39 cents per 510 g jar from 1984 to 1992, while the farm value of the peanuts increased seven cents. Decreasing the support price for peanuts by $250 per 907 kg, decreases the farm value of peanuts in a jar of peanut butter from 56 cents to 35 cents. The decrease would result in an increase in peanut butter use of about five percent or about 35,000 mt. Price may be only one of several factors impacting consumption trends.
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Choe, Jong-Il, and Byoung-Ky Chang. "Asymmetric Relationship between House Sale Price and Jeonse Price." Korean Data Analysis Society 24, no. 5 (October 31, 2022): 1811–22. http://dx.doi.org/10.37727/jkdas.2022.24.5.1811.
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The asymmetric relationship between the sale price and the Jeonse price in the housing market was examined in this study. When the sale(Jeonse) price increases compared to when it decreases, would not the impact on the Jeonse(sale) price be different? It started with the question. Analysis was performed using the nonlinear autoregressive distributed lag(ARDL) bounds test, which satisfies the purpose of this study. By applying the component decomposition method suggested by Hatemi-J and El-Khatib(2016), the positive and negative impacts were separated. To compare regional differences, data from 15 regions as well as the whole country were used. The most noteworthy thing from the analysis results is that, at least in the short term, the effect on the Jeonse price is bigger when the sale price decreases than when it increases, and the effect on the sale price is greater when the Jeonse price increases than when it decreases. This would be consistent with the rational actions of market participants to avoid negative-gap investments or Jeonse price reversal. On the other hand, in long-term relationships, it is estimated that the sale price leads the Jeonse price, and indirectly supports the theory of substitute goods. The findings of this study may be helpful in formulating supply and demand strategies for policy makers as well as in predicting future housing prices and deciding when to buy or sell a home.
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BREMER, MARC, and RICHARD J. SWEENEY. "The Reversal of Large Stock-Price Decreases." Journal of Finance 46, no. 2 (June 1991): 747–54. http://dx.doi.org/10.1111/j.1540-6261.1991.tb02684.x.
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Nchege, Johnson, and Ebikabowei Biedomo Aduku. "Asymmetric Shocks In Oil Price: An Exponential Generalized Autoregressive Conditional Heteroskedasticity Approach." International Journal of Economics Development Research (IJEDR) 3, no. 2 (May 23, 2022): 143–57. http://dx.doi.org/10.37385/ijedr.v3i2.456.
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This study empirically examined the asymmetric oil price shocks in Nigeria from 1981q1-2019q4 using the Exponential Generalized Autoregressive Conditional Heteroskedasticity (EGARCH) model. The EGARCH model was employed to investigate the asymmetric oil price shocks by obtaining the conditional variance from the estimated results. Empirical results revealed a weak indication for leverage effect and a strong indication for asymmetric effect. The positive egarch (L2) coefficient means that unanticipated increases in the price crude Oil are more profitable than unanticipated decreases in the price of crude Oil. Also, the results revealed strong asymmetry of oil price shocks in Nigeria. In specific terms, the positive asymmetric coefficient (1.8276) means an observed tendency of the crude oil price shock to be higher by approximately 1.83 per cent in declining oil prices in the crude oil market than in rising prices in the oil markets. Based on the above, the study recommended appropriate export diversification policies to reduce the dependency on crude oil exports as the major export (revenue) in the economy. This will offset crude oil price shocks such as the COVID-19 pandemic shock on Oil price, especially from an unanticipated decrease in crude oil prices in the international market. Key Words: Oil price, Oil Price Shocks, Asymmetry, EGARCH, Nigeria
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Dickson, Sean R., and Tyler Kent. "Association of Generic Competition With Price Decreases in Physician-Administered Drugs and Estimated Price Decreases for Biosimilar Competition." JAMA Network Open 4, no. 11 (November 15, 2021): e2133451. http://dx.doi.org/10.1001/jamanetworkopen.2021.33451.
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Lee, Kyung Young, Ying Jin, Cheul Rhee, and Sung-Byung Yang. "Online consumers’ reactions to price decreases: Amazon’s Kindle 2 case." Internet Research 26, no. 4 (August 1, 2016): 1001–26. http://dx.doi.org/10.1108/intr-04-2014-0097.
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Purpose – The purpose of this paper is to investigate how consumers respond to price changes by analyzing online product reviews (OPRs) posted on a product (Amazon’s Kindle 2), and to suggest several future research topics on online consumers’ reactions embedded in OPRs. Design/methodology/approach – An exploratory case study is conducted using OPRs added to the Kindle 2. By analyzing 6,714 OPRs, the authors examine how online consumers respond to two continual price decreases embedded in the observable (star rating and review depth) and implicit (positive and negative emotions) features of OPRs as well as how the number of OPRs per day has changed after two price drops. Findings – The authors found that all four features of OPRs (star rating, review depth, positive emotion, and negative emotion) and the number of OPRs per day had significantly changed after two price decreases for both long-term and short-term periods. In addition, online consumers’ reactions to price decreases in terms of these four features and the change in the number of OPRs per day were different between the first and the second price drops. Research limitations/implications – This study investigates online consumers’ reactions to price decreases only. Future research should investigate other cases where price changes under the dynamic pricing strategy in order to find the relationship between price increases/decreases and consumers’ reactions. Practical implications – This study implies that online merchants should consider consumer groups’ innovation adoption stages and make strategic decisions for price decreases to improve the sales of their products. Originality/value – While prior research involving the effects of price changes on consumers’ reactions has focussed on offline consumers, this is among the first attempts to address the long- and short-term reactions to price changes in terms of both the observable and implicit features of OPRs, and suggests that consumers’ reactions to price changes in OPRs are more complex.
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Pawlewicz, Adam. "Change of Price Premiums Trend for Organic Food Products: The Example of the Polish Egg Market." Agriculture 10, no. 2 (February 1, 2020): 35. http://dx.doi.org/10.3390/agriculture10020035.
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One of the most rapidly growing areas of the organic agricultural system is egg production. However, the price premium often decreases the affordability of organic foods. In this study, the production and sales of organic eggs in Europe were compared, the prices of organic and conventional eggs in Poland were analyzed, and the price premium on the Polish market was evaluated. This study relied on data of Eurostat, Statistics Poland, Agricultural and Food Quality Inspection and Ministry of Agriculture and Rural Development in Poland. The prices of organic and conventional eggs on the Polish wholesale market were analyzed based on the monthly price registers. The production and sales of organic eggs in Europe were characterized by a steady increase. The nominal and real prices of organic eggs were higher than the prices of conventional eggs throughout the entire analyzed period. The nominal prices of organic eggs tended to decrease. However, an upward trend was observed in the real prices of both organic and conventional eggs. The average price premium for organic eggs exceeded 128% (median of 121%). The price premium was characterized by moderate variation (Vc = 33%). In Poland, the price premium was on a downward trend by around 1% per month in the examined period.
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Donnelly, Grant E., Paige M. Guge, Ryan T. Howell, and Leslie K. John. "A Salient Sugar Tax Decreases Sugary-Drink Buying." Psychological Science 32, no. 11 (October 29, 2021): 1830–41. http://dx.doi.org/10.1177/09567976211017022.
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Many governments have introduced sugary-drink excise taxes to reduce purchasing and consumption of such drinks; however, they do not typically stipulate how such taxes should be communicated at the point of purchase. Historical, field, and experimental data consisting of more than 225,000 purchase decisions indicated that introducing a $0.01-per-ounce sugar-sweetened beverage (SSB) tax—without making it salient on price tags—had no significant effect on purchasing (−1.26%, p = .28). However, when the phrase “includes sugary drink tax” was added to tax-inclusive price tags, SSB purchasing was lower than (a) in the pretax period (−9.78%, p < .001), (b) in a posttax period when drinks did not bear price tags (−5.04%, p < .001), and (c) in a posttax period when drinks bore tax-inclusive price tags that did not mention the tax (−3.83%, p = .002). Making the tax’s beneficiary (student programs) salient on price tags had no added effect. Two follow-up studies suggested that tax salience was effective partly because consumers overestimated the tax amount, leading to reduced purchase intentions.
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Nguyen, Pascal, Younes Ben Zaied, and Thu Phuong Pham. "Does idiosyncratic risk matter? Evidence from mergers and acquisitions." Journal of Risk Finance 20, no. 4 (August 19, 2019): 313–29. http://dx.doi.org/10.1108/jrf-03-2018-0040.
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Purpose This paper aims to investigate whether idiosyncratic volatility is a priced risk factor in the Australian stock market. Design/methodology/approach The authors use the change in idiosyncratic volatility around acquisition announcements and the related stock price revaluation to test whether the idiosyncratic risk is priced. If the idiosyncratic risk is priced, increases (decreases) in idiosyncratic volatility should be associated with decreases (increases) in the acquirer’s stock price, as the latter’s future cash flows are discounted at a higher (lower) rate. The sample consists of 2,656 completed acquisitions by Australian listed firms over the period January 1990 to October 2014 for which deal value represents more than 5 per cent of the acquirer’s market value. Findings Increases (decreases) in idiosyncratic risk are associated with significant decreases (increases) in firm value. This negative relationship is robust to the presence of outliers; is unaffected by the incidence of the 2007-2008 financial crisis; holds using alternative measures of idiosyncratic risk; and is more significant after excluding the resources sector. Firms with a higher idiosyncratic risk prior to the acquisition, and firms avoiding stock to pay for the acquisition, experience a more significant stock price increase in relation to a decrease in idiosyncratic risk. Research limitations/implications Considering the small size of the Australian economy, investors may have less scope to mitigate idiosyncratic risk. As a consequence, idiosyncratic risk is associated with the positive excess return, contrary to what standard asset pricing theory assumes. The results support Merton’s (1987) hypothesis that investors are exposed to idiosyncratic risk due to imperfect portfolio diversification and receive compensation for bearing that risk. Practical implications The pricing of idiosyncratic risk may also explain why the Australian stock market has historically offered a high equity risk premium. A practical implication would be for international investors to take advantage of the diversification constraints of local investors to capture higher risk premiums and achieve superior returns. Originality/value While prior studies demonstrate that stocks with higher idiosyncratic risk are associated with higher subsequent returns, the authors show that an increase in idiosyncratic risk is associated with a decrease in stock prices using acquisition announcements as shocks to a firm’s idiosyncratic risk. In other words, the results arise from within-firm variations rather than from cross-sectional differences in stock returns.
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Turczak, Anna, and Patrycja Zwiech. "Wpływ wielkości spożycia i cen na wydatki żywnościowe i napoje bezalkoholowe w gospodarstwach domowych." Wiadomości Statystyczne. The Polish Statistician 2014, no. 6 (June 30, 2014): 84–96. http://dx.doi.org/10.59139/ws.2014.06.7.
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The aim of this article is to determine how consumption and prices of food and non-alcoholic beverages affect expenses per capita incurred by Polish households of various sizes. The results of conducted research allow to draw a conclusion that the highest expenses per capita on certain assortment categories are incurred by one-person households and the increasing number of household members has impact on not only decreasing consumption per capita and its value but also it decreases the price. Decreasing consumption per capita when the number of the household members increases is shaped by decreasing consumption per capita, the importance of decreasing price is far less important. However, the importance of decreased price to decreased consumption per capita increases along with the household size.
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Jang, Han Ik, and Byeng Kuk Kim. "Analysis of the Ripple Effect Between Price Changes by Housing Type." Korean Association for Housing Policy Studies 31, no. 1 (February 28, 2023): 101–42. http://dx.doi.org/10.24957/hsr.2023.31.1.101.
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This study analyzed the interrelationship and lead-lag relationship between price changes by housing type with the TVP-VARX model and Wavelet Phase Difference. As a result of the empirical analysis, the price of all housing types has a strong tendency to decrease after 2020 due to rising interest rates. The interrelationship between price changes by housing type is time-varying, and the impact of increase in apartment price on the price of detached and row houses increases over time. On the other hand, the impact of increase in detached house prices on prices of other housing types increases and then decreases sharply after August 2020. The impact of increase in row house price on prices of other types of housing generally remains constant, but temporarily increases around August 2020. At this time, in the interrelationship between prices by housing type, the impact of increase in apartment price on the price of other housing types is the largest on average. Next, it is confirmed that the impact of increase in the price of detached and row houses has a large impact on other housing types. The lead-lag relationship between price changes by housing type, which is detached → row → apartment, clearly has made after 2019. However, the interrelationship, influence, and lead-lag relationship between price changes by housing type by region are different. Accordingly, this study suggests that it is necessary to discriminately select housing types and policies to be supplied for price stabilization in the housing market according to the time and region.
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Klutse, Senanu Kwasi, and Gábor Dávid Kiss. "Test for asymmetry on the ex-pump price of premium gasoline in Ghana, Kenya, and Colombia." Hungarian Statistical Review 4, no. 1 (2021): 73–89. http://dx.doi.org/10.35618/hsr2021.01.en073.
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Once again, the World has been faced with an oil price shock as a result of the SARS-CoV-2 coronavirus pandemic. This has resurrected an old debate of whether retail fuel prices adjust significantly to either increases or decreases in international crude oil prices. With many countries moving towards the deregulation of their petroleum sub-sector, the impact of the US dollar exchange rate on retail fuel prices cannot be overlooked. This study investigates the rate at which positive and negative changes in international Brent crude oil prices and the US dollar exchange rate affected the increases or decreases in the ex-pump price of premium gasoline between February 2012 and December 2019. Using a non-linear auto-regressive distributed lag model, the exchange rate was found to play a significant role in fluctuations in the retail price of premium gasoline in Ghana and Colombia in the long run, howev-er, the rate of adjustment between the negative and positive changes was not significant, dispelling the perception of price asymmetry. There was no significant relationship between the ex-pump price of premium gasoline and the international Brent crude oil price in Ghana and Kenya in the long run. This study recommends that the aforementioned countries prioritise the creation of ex-change rate buffers to prevent exchange rate shocks that may affect retail fuel prices.
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Ridha, Ahmad, Raja Masbar, Aliasuddin Aliasuddin, and Vivi Silvia. "Asymmetric Price Transmission in the Cocoa Supply Chain in Indonesia." Economia agro-alimentare, no. 1 (June 2022): 1–21. http://dx.doi.org/10.3280/ecag2022oa12888.
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This study investigates the asymmetric price transmission (APT) of global cocoa beans and cocoa pasta prices to farm prices. The cocoa pasta variable is a proxy for Indonesian processed cocoa industry products. We use monthly time series data from January 2007 to December 2020. The NARDL model was used to estimate the APT response behavior. The dummy variable (export cocoa bean tax) explains fluctuations in farm prices before and after the policy implementation. The results showed asymmetric cointegration between the global cocoa market and cocoa pasta prices moving towards farm cocoa prices in Indonesia. APT occurs in the short and long term with different significant levels for each variable. The increase (decrease) in the global market and cocoa pasta prices were transmitted asymmetrically in the short and long terms, except for the variable (PA-pos), which is not significant in the long term. We observe strong evidence of negative asymmetric price transmission. Negative price shocks (decreases) in global markets and cocoa pasta are more rapidly transmitted to farmer prices than positive price shocks. Adjustment prices occur in magnitude, speed, and sign. The high coefficient of negative asymmetric price transmission indicates the uncompetitive of Indonesia's supply-demand cocoa chain. At the same time, the cocoa bean export tax harms farm prices. The export tax policy has reduced farm prices by approximately 2.3%.
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Dong, Junfeng, Li Jiang, and Yan Jiao. "Pricing Strategy and Quick Response Adoption System with Strategic Customers." Mathematical Problems in Engineering 2017 (2017): 1–17. http://dx.doi.org/10.1155/2017/1287162.
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This study determined the competitive advantage of a quick response (QR) system when a firm faces forward-looking customers with heterogeneous and uncertain valuations for a product, uncertain demand, and two selling periods. We identify two classes of pricing strategies, namely, no-price commitment strategy and price commitment strategy. Interestingly, the unique equilibrium is proven to exist if and only if most customers have high tastes on a product’s value. We also prove that when customers possess beliefs about the markdown in the second period being smaller enough, a firm obtains a high profit with price commitment; otherwise he obtains a high profit without price commitment. Moreover, we distinguish the competitive advantage of a QR system from two strategies. When a firm uses no-price commitment strategy, the value of QR system in the first period decreases and in the second period increases with customer’s strategic behavior. When a firm provides price commitment, the value of QR system in the first period may increase, decrease, or decrease first and then increase with customer’s strategic behavior. And the value of QR in the second period under price commitment strategy decreases or rises first and then decreases with customer’s strategic behavior.
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Guo, Zi-Yi, and Yangxiaoteng Luo. "The Effect of Sales and Evidence from Micro Data." Research in World Economy 8, no. 1 (April 26, 2017): 37. http://dx.doi.org/10.5430/rwe.v8n1p37.
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The concept of menu cost indicates that firms are facing a fixed menu cost when they want to change the nominal prices. However, the standard menu cost model is hardly to explain the observed facts from micro-level data, especially in terms of sales. In this paper, we investigate the effect of sales through a novel product-level dataset. There are at least three findings from our estimation results. First, we find that retail sales themselves, rather than price decreases, have a large effect on consumers’ purchases. Second, consumers are more prices sensitive when the product is on sale than they are when the product is not on sale. Third, consumers are far more aware of price decreases than price increases.
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Yovo, Koffi, and Kokou Edoh Adabe. "Asymmetry and transmission of international price shocks of cocoa and coffee in Togo." African Journal of Agricultural and Resource Economics 17, no. 1 (March 31, 2022): 80–91. http://dx.doi.org/10.53936/afjare.2022.17(1).5.
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This study assesses the mechanism of the transmission of international price shocks to producer prices of coffee and cocoa in Togo. A threshold autoregressive (TAR) model was estimated using monthly series of international and producer prices of coffee and cocoa in Togo from 1994 to 2018. The results show that there is asymmetric transmission of international price shocks to producer prices. Domestic prices respond less quickly to international price increase than decreases. The asymmetric price transmission is similar in term of the speed of adjustment for the two commodities. In order to deal with this phenomenon, further investigations need to be done to detect the reasons for the asymmetry in price transmission between domestic and international coffee and cocoa markets.
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Özsayın, Damla. "Investigation of Production and Price Relationship in Cow Milk Production by Koyck Model Approach." Turkish Journal of Agriculture - Food Science and Technology 5, no. 6 (July 14, 2017): 681. http://dx.doi.org/10.24925/turjaf.v5i6.681-686.1164.
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The aim of this study was to investigate the relationship between the amount of cow milk production and its price in Turkey in the period between 1985-2015.The Koyck model that is one of the distributed lag models was used to analyse of these data. The production of cow milk was considered as dependent variable and the price series consisting of cow milk prices and lagged price series are considered as explanatory variable in the model. According to the results of Koyck model, it was determined that the production of cow milk was affected by the prices of maximum one year retrospectively and the time required to dramatically affect to production of cow milk of the change taken place in prices of cow milk was 2.9 years. Furthermore, the increase of 1 TL in price of cow milk decreases the production of cow milk by 183372.4 tonnes. On the other hand, the increase of 1 TL in prices in the previous period decreases the production of cow milk by 137345.9 tonnes. Based on these data, it can be said that the price of cow milk composed in the free market conditions is rather efficient in determination to production amount. In conclusion, economic measures such as making of production planning, constituting of efficient marketing opportunities, price policies and giving a place to stable production can be taken against to fluctutations in the price increases.
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Golden, Shelley D., KyungSu Kim, Amanda Y. Kong, Vivian Qingzi Tao, Derek Carr, and Pratima Musburger. "Simulating the Impact of a Cigarette Minimum Floor Price Law on Adult Smoking Prevalence in California." Nicotine & Tobacco Research 22, no. 10 (March 9, 2020): 1842–50. http://dx.doi.org/10.1093/ntr/ntaa046.
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Abstract Introduction Minimum floor price laws (MFPLs) are an emerging tobacco control policy that sets a minimum price below which a specific tobacco product cannot be sold. MFPLs target cheaper products and may disproportionately impact consumers choosing low price brands or using discounts to reduce prices. We developed a static microsimulation model for California, United States to project short-term effects of different MFPL options for a 20-stick pack of cigarettes on adult smoking behaviors. Aims and Methods We simulated 300 000 individuals defined by race and ethnicity, sex, age, and poverty status. Smoking behaviors and cigarette prices were assigned based on demographic distributions in the 2014–2016 California Behavioral Risk Factor Surveillance System. We drew 100 random samples (n = 30 000), weighted to state-level California demographic characteristics. We simulated six MFPL options and modeled impacts on smoking prevalence and cigarette consumption, in general, and separately for those in households below or above 250% of the federal poverty level, assuming a price elasticity of −0.4. Results Predicted changes in prices, prevalence, and consumption increased exponentially as the floor price increased from $7.00 to $9.50. Assuming 15% policy avoidance, projected increases in average cigarette prices ranged from $0.19 to $1.61. Decreases in smoking prevalence ranged from 0.05 to 0.43 percentage points, and decreases in average monthly cigarette consumption ranged from 1.4 to 12.3 cigarettes. Projected prices increased, and prevalence and consumption decreased, more among individuals in households below 250% federal poverty level. Conclusions MFPLs are a promising tobacco control strategy with the potential to reduce socioeconomic disparities in cigarette smoking prevalence and consumption. Implications Despite reductions in adult smoking prevalence, significant socioeconomic disparities remain, with lower-income groups smoking at substantially higher levels than higher-income groups. Policies that set a floor price below which a tobacco product cannot be sold could reduce socioeconomic disparities in smoking, depending on variation in prices paid by smokers prepolicy. By using a microsimulation model to predict changes in smoking for different population groups in California under several floor price scenarios, this study demonstrates that MFPLs have the potential to reduce adult smoking prevalence overall, and especially for lower-income tobacco users.
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Serletis, Apostolos, and John Elder. "INTRODUCTION TO OIL PRICE SHOCKS." Macroeconomic Dynamics 15, S3 (November 2011): 327–36. http://dx.doi.org/10.1017/s1365100511000198.
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The relationship between the price of oil and the level of economic activity is a fundamental empirical issue in macroeconomics. Hamilton (1983) showed that oil prices had significant predictive content for real economic activity in the United States prior to 1972, whereas Hooker (1996) argued that the estimated linear relations between oil prices and economic activity appear much weaker after 1973. In the debate that followed, several authors suggested that the apparent weakening of the relationship between oil prices and economic activity is illusory, arguing that the true relationship between oil prices and real economic activity is asymmetric, with the correlation between oil price decreases and output significantly different from the correlation between oil price increases and output—see, for example, Mork (1989) and Hamilton (2003).
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Kahraman, Volkan, Nukhet Dogan, and Hakan Berument. "Benchmark Prices and Iraqi Oil Prices: The Asymmetric Effects of Benchmark Prices on Three Iraqi Oil Blends." International Journal of Energy Economics and Policy 14, no. 2 (March 15, 2024): 77–88. http://dx.doi.org/10.32479/ijeep.15407.
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This paper examines the asymmetric effects of benchmark oil prices on the prices of the three major Iraqi oil blends (Basrah Light, Basrah Heavy and Kirkuk) using Kilian and Vigfusson's (2011) non-linear VAR specification. The empirical evidence reveals that a decrease in benchmark prices decreases Basrah Light and Kirkuk oil blends more than an increase in the benchmark increases the prices of these two Iraqi blends for the October 2002-October 2019 period. However, the asymmetric behavior of Basrah Heavy is the reverse for the April 2015-October 2019 period. Moreover, as the magnitude of the benchmark oil price shocks increases, the degree of asymmetry increases. This shows that Iraq cannot benefit from oil price increases and market developments for its two most important export blends: Basrah Light and Kirkuk.
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Ma, Yixuan. "The Relationship between Stock Prices and Silver Future Prices Based on VAR Model." Highlights in Business, Economics and Management 7 (April 5, 2023): 490–95. http://dx.doi.org/10.54097/hbem.v7i.7022.
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Despite recent dramatic increases in the prices of coal, oil, natural gas, and other fossil energy futures, some of which have hit successive record highs, related stocks have seen substantial decreases. The price trend of commodities is typically driven by commodity futures, which serve as price discoverers. There is a relationship between futures and stocks in the market, meaning that when the price of the futures contract for a particular commodity rises, so will the price of the stock of the company that produces the commodity because investors anticipate rising earnings. But does the price of futures vary when the stock price does? Based on the findings of the VAR model and Granger causality test, this study concludes that the stock price, whether it be the current price or the historical earnings, does not significantly affect the futures price. Futures prices have a significant impact on future stock prices. This would facilitate investment decision-making.
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Rodriguez-Feijoo, Santiago, Alejandro Rodriguez-Caro, and Carlos Gonzalez-Correa. "Fruit and Vegetable Prices and Perceptions in Mercalaspalmas Wholesale Market." Innovar 25, no. 55 (January 1, 2015): 145–55. http://dx.doi.org/10.15446/innovar.v25n55.47230.
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This paper studies the behavior of fruit and vegetable prices in a wholesale market. Its aims are: a) to examine price behavior and changes; and b) to identify statistically significant factors in the perception of prices and to quantify the effect of these factors on the market price. For this purpose, daily data were obtained on modal prices at the Mercalaspalmas wholesale market from 2006 until mid-2010. The results obtained show there is a similar degree of flexibility in price increases and decreases, and show the product to be the determinant element in setting prices. There was found to be a strong degree of price permanence, in the sense that changes take place slowly and following a lag. The following significant factors were identified in the perception of prices: the length of time a price has remained unchanged in the market; the period during which a product has been absent from the market; the quantities traded at a given price; and the index of market prices. However, the quantitative effect of this body of factors on the perceived price is very limited.
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Kilian, Lutz. "The Economic Effects of Energy Price Shocks." Journal of Economic Literature 46, no. 4 (November 1, 2008): 871–909. http://dx.doi.org/10.1257/jel.46.4.871.
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Large fluctuations in energy prices have been a distinguishing characteristic of the U.S. economy since the 1970s. Turmoil in the Middle East, rising energy prices in the United States, and evidence of global warming recently have reignited interest in the link between energy prices and economic performance. This paper addresses a number of the key issues in this debate: What are energy price shocks and where do they come from? How responsive is energy demand to changes in energy prices? How do consumer's expenditure patterns evolve in response to energy price shocks? How do energy price shocks affect U.S. real output, inflation, and stock prices? Why do energy price increases seem to cause recessions but energy price decreases do not seem to cause expansions? Why has there been a surge in the price of oil in recent years? Why has this new energy price shock not caused a recession so far? Have the effects of energy price shocks waned since the 1980s and, if so, why? As the paper demonstrates, it is critical to account for the endogeneity of energy prices and to differentiate between the effects of demand and supply shocks in energy markets when answering these questions.
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Utami, Westi, Yuli Ardianto Wibowo, and Fajar Buyung Permadi. "The Impact of Tidal Flooding on Decreasing Land Values in the Areas of Tugu District, Semarang City." Jurnal Ilmu Lingkungan 19, no. 1 (April 28, 2021): 10–20. http://dx.doi.org/10.14710/jil.19.1.10-20.
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Semarang City as one of the areas on the north coast has a serious problem related to tidal flooding. The impact of this disaster has implications for changes in land use, a decrease in environmental quality and health, the emergence of slum settlements, a decrease in income and also a decrease in land value. This study aims to map the impact of tidal flooding on changes in land values based on the Land Value Zone Map (ZNT) and map land prices based on spatial data analysis. The study was carried out through spatial analysis by overlaying (join intersection) the 2014, 2016, 2018 and 2019 ZNT maps to determine changes in land value, while mapping land prices, especially in Mangunharjo Village, was based on land use maps, positive accessibility (road network) and negative accessibility (prone flood rob). The results of the study show that land which is permanently affected by tidal flooding and cannot be used anymore makes it a lost / destroyed land, while periodically inundated land has experienced a price decline in the range of Rp 100.000 – 200.000, -/m2. Meanwhile, the results of the study from the ZNT map for 2014 to 2019 show a very significant difference in price between zone 1 and a price increase of ± Rp 3.500.000; zone 2 price increase ± Rp 575.000, -, zone 3 at a price range of Rp 385.000, and zone 4 as the tidal flood prone zone only experienced an increase of Rp 250.000,-. In this context, the variable of tidal flooding vulnerability greatly affects the stagnation of land prices and even decreases in land prices, while the positive accessibility variable is the location of land on national and local roads that has experienced a very high price increase.
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Prasetyawati, Indah, and Djoni Hartono. "The Impact of Certain Price of Natural Gas Policy on Indonesia’s Economy." Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan 24, no. 1 (June 28, 2023): 112–28. http://dx.doi.org/10.23917/jep.v24i1.21544.
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The Indonesian national industry has experienced a slowdown in growth and decrease in competitiveness, allegedly caused by the high price of natural gas. Therefore, the government intervened by implementing Certain Price of Natural Gas Policy (Harga Gas Bumi Tertentu), a policy that facilitates industries to obtain gas at lower prices through the issuance of Presidential Decree Number 121 of 2020 concerning Natural Gas Pricing. This study aims to analyze the impact of the policy on the national economy by considering the decline in state revenues as a consequence of the reduced price of natural gas for industry. Using the Computable General Equilibrium (CGE) model, analyses were carried out on various economic indicators. This study finds a decline in GDP for 0.076% in the short-run and an increase in GDP for 0.004% in the long-run. Furthermore, household income, in both rural and urban areas, decreases from 0.1 to 0.2% in both short and long-run. For industries that use gas intensively, the price reduction increases sectoral output and labor, and reduces commodity prices.
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Baig, Ahmed S., Omair Haroon, and Nasim Sabah. "Price Clustering After the Introduction of Bitcoin Futures." Applied Finance Letters 9 (April 23, 2020): 36–42. http://dx.doi.org/10.24135/afl.v9i0.200.
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Economic theory suggests that introduction of derivative contracts can improve the informational efficiency of the underlying asset prices (Danthine, 1978). In this study, we examine the impact of the introduction of Bitcoin futures on price clustering in Bitcoin. Our findings suggest that price clustering in Bitcoin meaningfully decreases post the introduction of its futures contracts.
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Wang, Hao, Shen Guohui, Shi Zizhong, and Hu Xiangdong. "Effects of climate and price on soybean production: Empirical analysis based on panel data of 116 prefecture-level Chinese cities." PLOS ONE 18, no. 3 (March 24, 2023): e0273887. http://dx.doi.org/10.1371/journal.pone.0273887.
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This paper uses panel data from 116 prefecture-level cities in China from 2003 to 2019 to study the impact of price and climate factors on soybean planting area and yield per unit area in China. We adopt the panel instrumental variable method to control the endogeneity of the price in the regression and allow possible spatial autocorrelation errors. According to the research results, price is the primary factor affecting soybean production. For every 1% increase in soybean prices, the soybean planting area increases by 1.650%, and the per unit yield decreases by 0.898%. As for fertilizer prices, for every 1% increase in fertilizer prices, the soybean planting area will decrease by 2.616%, and the yield per unit area will increase by 0.819%. At the same time, climate change will also significantly affect soybean production. For every 1 cm increase in precipitation in April and May, the soybean planting area will increase by 0.233% and decrease by 0.172%, respectively. The precipitation increase in June and July can also significantly promote soybean yield. The results demonstrate that because soybean is a shade-loving crop, the increase of growing degree days will hinder the progress of soybean yield.
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Prabowo, Agung, Afifah Mufidah, Idha Sihwaningrum, and Rabiu Hamisu Kankarofi. "Calculation Option Price on Shares PT. Nippon Indosari Corpindo Tbk. with Fuzzy Binomial Tree Model." International Journal of Mathematics, Statistics, and Computing 1, no. 4 (December 31, 2023): 54–60. http://dx.doi.org/10.46336/ijmsc.v1i4.36.
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The Cox-Ross-Rubinstein binomial tree model is widely used in stock and derivative securities calculations, such as options calculations. The binomial CRR model assumes that the parameter increases in option prices and decreases in option prices so this model produces stock price movements up and down stock price movement. However, stock price movements show price fluctuations and cause the volatility of the value to be unsuitable. In this study, modeling stock and option price movements using a fuzzy binomial tree model. The data used was data on the movement of the stock price of Nippon Indosari Corpindo Ltd Plc from February 2021 to January 2022. The results showed that for February 2022, with a risk size of 90%, the selling price options with the greatest volatility of 51.6484081, medium volatility of 33.33154354, and the smallest volatility of 28.17155892.
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Xue, Huidan, Chenguang Li, Liming Wang, and Wen-Hao Su. "Spatial Price Transmission and Price Dynamics of Global Butter Export Market under Economic Shocks." Sustainability 13, no. 16 (August 19, 2021): 9297. http://dx.doi.org/10.3390/su13169297.
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Recently, the world has experienced striking economic and policy changes, and subsequent uncertainties have impacts on dairy trade price fluctuations. The Global Vector Autoregressive (GVAR) methodology was established in this paper to better understand international butter export prices transmission, the feedback between the economic context changes and price fluctuations, and the link between the global butter market, energy market, and other commodity markets. We assessed which key factors are typically associated with butter export price movements with regards to shocks to crude oil price, palm oil price, farm-gate raw milk price, exchange rates, and consumer price index (CPI) for food of the EU, New Zealand, the U.S., and the rest of world (RoW), respectively. Using generalized impulse response functions, this study found that decreases in farm-gate raw milk price could be swiftly transmitted to butter export prices of not only a home country but other foreign countries. However, palm oil price and crude oil price merely affects global butter export prices. We also found that U.S. dollar depreciations against the Euro will cause a decline in U.S. butter export price. It is concluded that butter export markets are not well-integrated, yet butter export prices of New Zealand and the U.S. are highly linked.
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Yami, Mesay, Ferdi Meyer, and Rashid Hassan. "Should traders be blamed for soaring food prices in Ethiopia? Evidence from wholesale maize markets." International Food and Agribusiness Management Review 23, no. 1 (January 2020): 19–33. http://dx.doi.org/10.22434/ifamr2019.0140.
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The prevalence of imperfect price transmission in the agricultural food markets continues to be an important policy concern for most countries in Africa. Motivated by the coexistence of soaring food prices and high domestic food production, this article investigates the performance of wholesale white maize markets in Ethiopia during the post-agricultural market liberalization period. The presence of price manipulation in the grain market structure has important welfare implications as it impedes the full transmission of price reductions and increases among marketing intermediaries. Results indicate that regional maize markets adjusted more quickly to price decreases than price increases to the central Addis Ababa wholesale maize market prices, suggesting the absence of positive asymmetric price transmission. Our findings are in contrast with existing studies conducted in southern, western and eastern Africa major food commodity markets.
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Sek, Kun. "Effect of oil price pass-through on domestic price inflation: Evidence from nonlinear ARDL models." Panoeconomicus 66, no. 1 (2019): 69–91. http://dx.doi.org/10.2298/pan160511021s.
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We intended to demonstrate that oil price can have a different passthrough effect into domestic prices at consumer and production levels subject to an oil dependency factor. The results were compared between oil-importing and oil-exporting countries. The nonlinear autoregressive distributed lags (NARDL) models were used to capture the asymmetric pass-through effects of oil price increases and decreases in consumer price and producer price respectively. Our results revealed that oil price changes can have asymmetric effect on consumer price index (CPI) inflation directly and indirectly with more influential impact of indirect effect. This result holds for both groups of countries. The effect on producer price is much larger especially in oil-importing group due to the high dependence of these countries on oil. Oil price changes did lead to increases in consumer prices in oil-importing countries. This may due to effective monetary policy that enhances price stickiness in the economy.
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Sheu, Gloria. "Price, Quality, and Variety: Measuring the Gains from Trade in Differentiated Products." American Economic Journal: Applied Economics 6, no. 4 (October 1, 2014): 66–89. http://dx.doi.org/10.1257/app.6.4.66.
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This paper explores the gains from trade in differentiated products from three channels: decreases in price, improvements in quality, and increases in variety. Using data on Indian imports of computer printers from 1996 to 2005, a period of trade liberalization, I find that quality was the leading source of welfare gains. Consumers would require a 65 percent decrease in all 1996 prices to be as well off as they were with the quality available in 2005. The contribution of price was slightly smaller, while variety lagged farther behind. These effects varied across buyers, as gains were largest for small businesses. (JEL F13, F14, L11, L63, O19)
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da Cunha, C. A., and A. E. Wander. "Asymmetry in farm-to-retail dry bean price transmission in Sāo Paulo, Brazil." Journal on Chain and Network Science 14, no. 1 (January 1, 2014): 31–41. http://dx.doi.org/10.3920/jcns2014.0233.
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The objective of this paper is to verify the existence of asymmetric price transmission in the farm, wholesale and retail dry bean market in Sāo Paulo, Brazil. The dry bean market is characterised by high price volatility, mainly due to harmful interference from informal actors. Consequently, the prices being practiced at different chain levels have asymmetric transmission, which can be explained by failures in coordination, opportunistic behaviour of farmers and intermediaries, and the asymmetry of information amongst actors within the chain. Our findings confirm those of the existing literature - in situations of asymmetric price transmission, price increases at farm level are more intensely transmitted to wholesalers and retailers than price decreases. Consequently, the common bean market shows inefficiencies in price transmission along the chain, as price increases at farm level generate higher impacts on retail prices, violating the absolute form of purchasing power parity.
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Yang, Hongmei, and Wei Wang. "Endogenous Third-Degree Price Discrimination in a Supply Chain with One Common Manufacturer and Duopoly Retailers." Discrete Dynamics in Nature and Society 2020 (December 23, 2020): 1–15. http://dx.doi.org/10.1155/2020/6642711.
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Assuming the two retailers decide whether to acquire information to segment consumers and price them differently, we investigate the problem of information acquisition and third-degree price discrimination in the supply chain composed of one common manufacturer and duopoly retailers. We explore how the supply chain members’ pricing decisions are affected by the fraction of high price-sensitivity consumers and the consumers’ difference in price sensitivity. Analytical results show that the manufacturer’s wholesale price increases with the fraction of high price-sensitivity consumers and decreases with the consumers’ difference in price sensitivity. Moreover, if a retailer chooses to acquire information and price discriminate, the retail prices for two types of consumers increase with the fraction of high price-sensitivity consumers. However, the retail price for consumers with high (low) price sensitivity decreases (increases) with the consumers’ difference in terms of price sensitivity. By comparing the results among different information acquisition and price discrimination decisions, we find that there exist two possible equilibrium decisions for both retailers: both retailers acquire information and price discriminate and no retailer acquires information and each charges a uniform price for all consumers. The strategy which dominates depends on the fraction of high price-sensitivity consumers and the consumers’ difference in price sensitivity. However, compared with no retailer acquiring information, the manufacturer is better off when two retailers acquire information. Consequently, the manufacturer designs a fixed fee contract to stimulate retailers to price discriminate and to achieve a win-win situation for them finally.
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Guindon, G. Emmanuel, Tooba Fatima, David X. Li, Alexandra Joukova, Jitender Sudhir, Sujata Mishra, Frank J. Chaloupka, and Prabhat Jha. "Visualizing data: Trends in smoking tobacco prices and taxes in India." Gates Open Research 3 (January 17, 2019): 8. http://dx.doi.org/10.12688/gatesopenres.12894.1.
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Background: Tobacco smoking remains a leading risk factor for disease burden globally. In India alone, about 1 million deaths are caused annually by smoking. Although increasing tobacco prices has consistently been found to be the most effective intervention to reduce tobacco use, the documentation of prices and taxes across time and space has not been an essential component of tobacco control surveillance in most jurisdictions. This study aimed to examine, using graphical methods, trends in smoking tobacco taxes and prices in India at national and state-level. Methods: We used retail prices, price indices, and unit values (household expenditures on a commodity divided by the quantity purchased) collected and reported by government agencies. For bidis and cigarettes, we examined current and real (inflation-adjusted) prices, affordability (cost in terms of income), and key tax changes at both national and state-level. Results: We show that real prices of bidis and cigarettes were relatively flat (even decreasing in the case of bidis) between 2000 and 2007, and clearly increasing from 2010. When rising income is taken into account, however, both cigarettes and bidis have become more affordable since 2000. We found that some but not all tax changes were accompanied by price changes and in particular, that tax decreases did not result in price decreases. Conclusion: It is feasible to evaluate tax and price policies at national and regional level using routinely collected data.
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Cremer, Helmuth, Firouz Gahvari, and Norbert Ladoux. "Energy Taxes and Oil Price Shocks." B.E. Journal of Economic Analysis & Policy 15, no. 2 (April 1, 2015): 475–501. http://dx.doi.org/10.1515/bejeap-2014-0098.
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Abstract This paper examines if an energy price shock should be compensated by a reduction in energy taxes to mitigate its impact on consumer prices. It shows that the consumer price should not increase by as much as the producer price, implying a small reduction in the energy tax in dollars. The energy tax rate, on the other hand, decreases sharply. This decline is primarily due to an adjustment in the Pigouvian component: A constant marginal social damage being divided by a higher producer price. The redistributive component of the tax remains at about 10% of the social cost of energy.
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Kaier, Klaus. "The impact of pricing and patent expiration on demand for pharmaceuticals: an examination of the use of broad-spectrum antimicrobials." Health Economics, Policy and Law 8, no. 1 (September 4, 2012): 7–20. http://dx.doi.org/10.1017/s1744133112000084.
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AbstractThe aim of the analysis was to determine whether demand in Germany for specific antimicrobial agents is driven by prices that drop considerably when generic substitutes become available. A time-series approach was therefore carried out to explore price elasticities of demand for two different classes of broad-spectrum antimicrobials (fluoroquinolones and cephalosporins) using data on ambulatory antibiotics prescribed on the German statutory health insurance scheme and data on in-hospital antibiotic use in a German teaching hospital. In short, we attempted to explain demand for different antibiotics based on changes in price and hospital-wide morbidity. The data indicate that patent expiration is followed by substantial decreases in the price of antibiotics. In the outpatient sector, all antibiotics included in the analysis showed significant negative own-price elasticities of demand. However, in the hospital settings, significant own-price elasticities were only determined for some antibiotics, although price decreases were stronger than in the outpatient sector. We conclude that price dependence of demand for antimicrobials is present both in the ambulatory and the hospital setting. However, this is especially surprising in the hospital setting because price differences among the antibiotics observed are particularly small compared with the overall cost of hospitalisation.
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Chauvin, Keith W., and Catherine Shenoy. "Stock price decreases prior to executive stock option grants." Journal of Corporate Finance 7, no. 1 (March 2001): 53–76. http://dx.doi.org/10.1016/s0929-1199(00)00019-5.
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Jaramillo Villanueva, José Luis. "Transmisión vertical y espacial de precios en el mercado mexicano e internacional de ganado vacuno." Revista Mexicana de Ciencias Pecuarias 13, no. 4 (September 9, 2022): 894–909. http://dx.doi.org/10.22319/rmcp.v13i4.5839.
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From 2000 to 2019, the Mexican beef subsector has undergone significant structural changes; the most important was the concentration of both production and marketing stages. In 2019, the Mexican Federal Commission of Competence revealed that, Mexican households’ income diminished between 16 and 31 % due to a lack of market efficiency. In the case of meat, the reduction may be up to 98 %. In this context, the objective of this study was to examine the degree of spatial price transmission between national and international live cattle prices and the vertical transmission between live cattle prices and carcass meat prices to evaluate market efficiency. The econometric approach consists of the estimation of a vector error correction model, using monthly beef real prices, for the period 1990-2019. Findings from this research provide information for decision-makers and stakeholders in this industry: these comprehend unidirectional transmission of international beef prices to domestic beef prices and from farm price to processor price. Also point to the existence of asymmetric price transmission, which is related to whether cattle and beef prices are increasing or decreasing. Results indicate that a long-run single cointegration relationship exists between international and farmer prices, and between processor and farm price. The direction of price transmission tends to go from producers to processors and from international price to farmer price. When the international price increases, the speed of adjustment tends to be significantly slower, in contrast to when the international price decreases, resulting in a significantly faster rate of adjustment.
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Solaymani, Saeed. "Social and economic aspects of the recent fall in global oil prices." International Journal of Energy Sector Management 13, no. 2 (June 3, 2019): 258–76. http://dx.doi.org/10.1108/ijesm-06-2017-0006.
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Purpose The global energy market has been facing lower prices of crude oil in recent years. Lower fuel price leads to lower transport cost and cheaper agricultural inputs (such as pesticides and chemical fertilizer), resulting in lower prices of agricultural commodities in the international markets. On the other hand, lower global oil price reduces the oil revenues of oil exporting countries, resulting in a decrease in government expenditures. Therefore, the purpose of this study is to examine the impacts of lower global oil and agricultural commodity prices and government expenditure on the entire economy and poverty level of Malaysia. Design/methodology/approach This study used a computable general equilibrium model (CGE) to investigate four simulation scenarios based on the latest Malaysia’s input-output table belonging to 2010. The first scenario is a 30 per cent fall in the export and import prices of agricultural commodity prices, while the second is a 50 per cent decline in the export and import prices of crude oil, and the third combines them. In the fourth scenario, government operating expenditure declines by 4 per cent because of the fall in government’s oil revenues as a result of the decline in global oil prices. Findings The simulation results suggest that lower international oil price decreases real gross domestic product (GDP) and investment in Malaysia and influences positively the output and employment of some agriculture sectors. However, lower agricultural commodity price increases real GDP and investment in the country and negatively influences the output, employment and exports of all agriculture sectors. The decline in government expenditures also increases the output and the employment in the economy, whereas it decreases household consumption. In conclusion, results show that the agriculture sector losses from the current decline in international agricultural commodity prices, while it benefits from lower oil and government expenditure. Originality/value The main contribution of this study is comparing the impacts of recent falls in global oil and agricultural prices on the entire economy and agriculture sector of Malaysia. Investigating the impacts of these issues on the poverty level of Malaysian households is another contribution to the study. Another contribution is analyzing the impact of a reduction in government expenditures because of the decline in global oil price on the economy and welfare of Malaysia. Therefore, this study makes a useful contribution to the small literature of the topic.
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PG-Jones, Arun, Victoria Serra-Sastre, and Hansoo Kim. "OP27 Impact Of Generic Entry Of Pharmaceuticals On Drug Prices In Australia." International Journal of Technology Assessment in Health Care 39, S1 (December 2023): S8. http://dx.doi.org/10.1017/s0266462323000703.
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IntroductionPolicy makers are keen to introduce cost containment measures in medicine spending due to aging populations and fiscal pressure. A major price reform was applied to the Australian Pharmaceutical Benefits Scheme (PBS) in 2014. This aimed to stimulate price reductions by increasing competition among generics, amidst growing evidence at the time of unnecessarily high generic medicine prices in Australia. The aim of this study was to estimate the effect of patent expiration and generic competition on drug prices, while controlling for other determinants of drug prices in Australia.MethodsA dataset from publicly available sources was constructed using monthly data on the price of drugs listed on the PBS from October 2014 to July 2022. The information included the generic drug name, item code, date, approved ex-manufacturer price, dispensed price per maximum quantity, and brand names. This was supplemented with monthly government spending and number of prescriptions filled per item code. A fixed effects regression model was used to estimate the effect of patent expiration and generic competition on dispensed drug prices.ResultsThe model estimated that introducing generics in Australia led to an 18 percent decrease in prices, excluding further decreases resulting from other controlled variables. The price elasticity of total prescriptions filled was estimated to be -0.6, suggesting that a one percent increase in prescriptions filled resulted in drug prices being lowered by 0.6 percent. This reflects the fact that, on average, firms reacted by reducing prices to increase market share when faced with an increase in quantity demanded. Each extra competitor was estimated to result in a reduction in prices of roughly 1.8 percent.ConclusionsThese results show that entry of generics into the Australian pharmaceutical market resulted in a significant reduction in drug prices. However, this alone does not provide empirical support for the effectiveness of these price reforms in generating savings by inducing generic competition, especially over other forms of pharmaceutical regulation.