Dissertations / Theses on the topic 'Price elasticity'
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Emir, Akin. "Delivery pricing for different demand price elasticity functions." [Gainesville, Fla.] : University of Florida, 2002. http://purl.fcla.edu/fcla/etd/UFE1001138.
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Joslyn-Battaglia, Kari. "The Relationship Between an Industry Average Beta Coefficient and Price Elasticity of Demand." Thesis, North Texas State University, 1986. https://digital.library.unt.edu/ark:/67531/metadc500999/.
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The price elasticity of demand coefficient for a good or service is a measure of the sensitivity, or responsiveness, of the quantity demanded of a product to changes in the price of that product. The price elasticity of demand coefficients were generated for goods and services in nine different industries for the years 1972 to 1984. A simple linear demand function was employed, using the changes in the Consumer Price Index as a proxy for changes in price and Personal Consumption Expenditures, taken from the National Income and Product Accounts, as a proxy for quantity. Beta measures the sensitivity, or responsiveness, of a stock to the market. An industry average beta coefficient was generated for each of the nine industries over the time period, using the beta coefficients published by Value Line for firms which met certain criteria. In order to test the relationship between the price elasticity of demand and an industry average beta coefficient, a simple regression was performed using the beta coefficient as the dependent variable and the price elasticity of demand coefficient as the independent variable. The results broke down into 3 basic categories: those industries for which there seemed to be no relationship, those industries where there was a fairly strong probability that a relationship exists and the price elasticity of demand explains at least part of the variation in beta coefficients, and those industries where there was a very high probability that a relationship does exist and the variation in the price elasticity of demand coefficients substantially explained the variation in the industry average beta coefficients. The first category includes the food at home, tobacco, and shoe industries. The second category includes the men's clothing, the women's clothing, and the alcoholic beverages industries, and the third includes the automobile, airline, and fast-food restaurant industries.
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Ahmed, Sadeq Mohamed, and Kamran Vaziri. "Price elasticity of demand for cigarettes : The Case of Sweden." Thesis, Högskolan Dalarna, Nationalekonomi, 2014. http://urn.kb.se/resolve?urn=urn:nbn:se:du-14649.
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Due to health problems and the negative externalities associated with cigarette consumption, many governments try to discourage cigarette consumption by increasing its price through taxation. However, cigarette, like the other addictive goods, is viewed as that it is not sensitive to demand rules and the market forces. This study analyses the effect of price increase on cigarette consumption. We used Swedish time series data from 1970 to 2010. Our results reveal that though cigarette is addictive substance its demand is sensitive to changes in the price. Estimates from this study indicate short-run price-elasticity of -0.29 and the long run price elasticity of -0.47.
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Jonák, Ondřej. "Odhad cenové elasticity poptávky po ropě." Master's thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-15857.
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Objective of this diploma thesis is estimation of price elasticity of crude oil demand. In order to calculation of such elasticity crude oil demand is estimated with econometrical methods. The choice of suitable model, which sufficiently and accurately models crude oil demand, is initial position of analysis. Consequently, crude oil demand is estimated from market data obtainable from public sources. This estimated model is verified from economic, statistic and econometric point of view. Consequently, price elasticity of crude oil demand is calculated from such model.
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Huang, Yikun, and 黃逸昆. "Land supply elasticity and the housing price sensitivity to interest rate." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2013. http://hdl.handle.net/10722/197542.
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In Hong Kong, housing prices have increased significantly in recent years. Amongst all the reasons for such significant increase, low interest rate has been recognized as one of the major reasons. Many studies have provided empirical evidence to support the negative relationship between interest rate and housing prices. However, in the US, recent studies (Glaeser, Gottlieb and Gyourko, 2010; Kuttner, 2012) show that the observed effect of interest rate changes on housing prices is much less than that predicted by the standard user cost model.
According to the Glaeser et al. (2010), there are three potential explanations for the low housing price sensitivity to interest rate fluctuation. First, increase in land (and therefore housing) supply elasticity can reduce the effects of the demand-side variables, including interest rate. Second, high risk premium for long term mortgage rate in the US makes housing prices less sensitive to changes in interest rates. Third, the long-term mortgage contracts in the US cannot reflect the impact of frequent short term interest rate fluctuation. Among these three potential hypotheses proposed to explain the lower than expected housing price sensitivity to interest rate changes, land supply elasticity is more relevant to Hong Kong. By focusing on Hong Kong’s housing market, this thesis examines the relationship between land supply elasticity and the sensitivity of housing prices towards interest rate changes. When demand shift due to interest rate change, land supply (and therefore housing supply) may respond accordingly to reduce the impact of interest rate change. The more elastic the supply is, the weaker the housing price sensitivity to interest rate may be. Alternatively, housing prices are more sensitive to interest rate change when land supply is inelastic.
To be more precisely, this study provides an empirical test on whether land supply elasticity reduces housing price sensitivity towards interest changes. Two approaches are applied to provide clear pictures of housing price sensitivity. First, data from different housing subsectors with different land supply elasticity are used for the empirical tests. The results show that prices of large units in the Hong Kong Island are significantly more sensitive to interest rate change, compared to those of small units in the New Territories. This is consistent with the implication of our hypothesis because new land for building luxurious units in Hong Kong Island is limited while there are relatively more lands available in the New Territories for smaller mass residential units. Second, in Hong Kong, all new land supply comes from the government in the form of leasehold land. Hence, government’s land supply policy has a major impact on land supply elasticity. For example, there was a period of restricted land supply before the handover in 1997, which effectively reduced land supply elasticity. On the other hand, the Application List land sales system adopted by the Hong Kong government from 2000 to 2013 should increase the flexibility in land supply. Therefore, this study makes use of these policy changes as nature experiments to investigate the effect of land supply elasticity on housing price sensitivity towards interest fluctuation. The results show that housing prices are more sensitive to interest rate change during the land supply restriction period and more insensitive when the Application List was used for land sales.published_or_final_version
Real Estate and Construction
Doctoral
Doctor of Philosophy
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SILVA, LEONARDO LUIZ ROCHA E. "APPLICATION OF PRICE AND CROSS ELASTICITY OF SMARTPHONES USING TIMES SERIES." PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO, 2017. http://www.maxwell.vrac.puc-rio.br/Busca_etds.php?strSecao=resultado&nrSeq=32914@1.
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O mercado de smartphones é muito sensível a preços devido à alta competitividade comercial e à constante evolução tecnológica. A elasticidade de preços e a elasticidade cruzada são fundamentais para ajustes de previsões de vendas para evitar rupturas e/ou altos volumes de estoques. Este trabalho apresenta uma proposta de modelagem para cálculo de elasticidade de preços e elasticidade cruzada utilizando variáveis causais abordando aspectos internos e externos de uma empresa operadora de serviços de telecomunicações com várias lojas próprias. A escolha das variáveis é resultante da parceria entre profissionais de Logística, Marketing e Vendas fornecendo apoio técnico aos Planejadores de Demanda. Para se calcular a elasticidade de preços, a modelagem baseada em Regressão Dinâmica indicou utilização das variáveis: preços de concorrentes internos (representando a canibalização), disponibilidade (para lançamento e phase-out de produtos), loja aberta (diferenciando dos dias de lojas fechadas com vendas nula) e fator diário (cadenciando as vendas diárias), proporcionando resultados satisfatórios e demonstrando aplicabilidade comercial do modelo proposto.The smartphone market is very price sensitive due to high commercial competitiveness and constant technological evolution. Price elasticity and cross-elasticity are critical for adjusting sales forecasts to avoid disruptions and / or high inventory volumes. This work presents a modeling proposal for calculation of price elasticity and cross elasticity using causal variables, addressing the internal and external aspects of a telecommunications service operator with several own stores. The variable s choice is the result of a partnership between professionals in Logistics, Marketing and Sales providing technical support to Demand Planners. In order to calculate price elasticity, modeling based on dynamic regression indicated the use of variables: internal competitors prices (typifying cannibalization), availability (for launching and phase-out of products), open store (differentiating from the days of closed stores with zero sales) and daily factor (daily sales rhythm), providing satisfactory results and demonstrating commercial applicability of the proposed model.
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Dubihlela, Dorah. "An analysis of the poor's demand patterns during rising prices : the case of Bophelong / Dorah Dubihlela." Thesis, North-West University, 2012. http://hdl.handle.net/10394/10120.
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This study investigated the demand patterns of poor households during a period of rising prices. Focus was on three main constructs namely the poor, rising prices and the demand patterns. The study was on Bophelong, a township in South Africa. This study was conducted from an empirical, quantitative approach which was preceded by a literature review. The main objective of conducting the literature review was to provide a theoretical framework for questionnaire design and empirical work. Cross sectional data was collected at Bophelong households. On completion of the survey, the poor were selected from the non-poor by means of a poverty line. The poor were further divided into two categories, namely moderately poor and the very poor. Moderately poor households were categorised by an income ranging 50% to 99% inclusively of their household poverty line. The very poor households were categorised by an income in the range of 0 to 49% inclusively of their poverty line. Using the above division, the total poverty rate was 56% of the total sample, 26% being moderately poor and 30% very poor. The poverty gap ratio for all the poor in the sample was 0.48, meaning that on average, the poor needed 48% of their current income to reach their poverty line. This ratio was 0.29 for the moderately poor households and 0.69 for the very poor households. A logistic regression done on the determinants of poverty in Bophelong showed that household size, age of the household head, monthly household income and the employment status of the household head were significant in determining poverty. The monthly average household income in Bophelong was R2 910. For the moderately poor households it was R1 641 for the and R932 for the very poor households. Household size was 3.96 for the whole sample size, 2.97 for the non-poor households, 4.2 for the moderately poor households and 4.7 for the very poor households. The study revealed that demand patterns of the poor differ from those of the non-poor. In addition the moderately poor households‟ demand patterns differ from the very poor An analysis of the poor‟s demand patterns during rising prices: the case of Bophelong household. The greatest part of income of the poor is spent on basic food stuffs. The very poor spent more than half of their income (53%) on food. The study indicated that bread is a giffen good only to the very poor households where quantity demanded moves in the same direction with price. In the non-poor households, bread is regarded inferior. A commodity can be overly a necessity, but the degree of necessity differs with a households‟ economic status. In some cases, a commodity was a necessity in the very poor households but a luxury in the non-poor. The way households substitute one good for another depends on their income levels. In conclusion, the study recommends that for poverty alleviation policies to effectively target the very poor in reducing malnutrition and hunger, these very poor should be studied separetely from the poor households. This is because households of different poverty levels face different challenges. A more detailed and deeper study relating to the demand structure of the poor is recommended. There is also a need to explore the survival means of the poor as to direct policy actions aimed at alleviating poverty among the poor in general.Thesis (PhD (Economics))--North-West University, Vaal Triangle Campus, 2013
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Huang, Min-Hsin. "Price competition between store brands and national brands determinants of price elasticities for cheese products /." Columbus, Ohio : Ohio State University, 2004. http://rave.ohiolink.edu/etdc/view?acc%5Fnum=osu1083621040.
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Thesis (Ph. D.)--Ohio State University, 2003.Title from first page of PDF file. Document formatted into pages; contains xiv, 169 p.; also includes graphics (some col). Includes abstract and vita. Advisor: David E. Hahn, Dept. of Agricultural, Environmental & Development Economics. Includes bibliographical references (p. 164-169).
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Mousinho, Guilherme Filipe Palma. "Modelling renewal price elasticity : an application to the motor portfolio of Ocidental." Master's thesis, Instituto Superior de Economia e Gestão, 2016. http://hdl.handle.net/10400.5/12840.
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Mestrado em Ciências ActuariaisO aumento da competitividade no mercado segurador automóvel em Portugal tem levado as seguradoras a considerar uma abordagem de tarifação mais assente na procura, como um complemento à tradicional abordagem baseada no risco. As companhias de seguros querem actualmente saber mais sobre como evitar a saída dos seus clientes, durante o período de renovação de apólice, sem prejudicar a rentabilidade. Este relatório é o resultado de um estágio curricular que teve lugar junto da Ocidental Seguros, tendo como principais objectivos modelar a taxa de anulação na renovação do seguro automóvel da companhia e analisar como diversas variáveis influenciam as renovações. Considerámos a regressão logística, um caso particular dos Modelos Lineares Generalizados, para modelar a variável de resposta binária renovação/anulação. Modelando a variável de resposta como uma função da variação do prémio e de outras variáveis explicativas, é possível estimar a probabilidade de anulação por valor da alteração do prémio para cada cliente. Como a variação do prémio é a única variável que a companhia pode controlar directamente, obter tal informação sobre a elasticidade preço de cada cliente permitirá à seguradora tomar melhores decisões, com o objectivo de aperfeiçoar o equilíbrio entre o grau de satisfação dos clientes e a rentabilidade. A capacidade do modelo em prever que clientes irão anular as suas apólices foi também examinada. Para converter as probabilidades obtidas pelo modelo em classificações binárias, foram comparados vários critérios de optimização de ponto de corte, de modo a encontrar o valor que resulta na melhor capacidade discriminatória global.
The increase in competition in the Portuguese Motor insurance market has lead insurers to consider a more demand-based approach to ratemaking, as a complement to the usual risk-based approach. Insurance companies now want to have a better understanding of how to prevent their clients from leaving the company, during the policy renewal period, while maintaining profitability. This report is the result of a curricular internship that took place at Ocidental Seguros, with the main goals of modelling the company's Motor insurance lapse rate during the renewal period and studying how different covariates influence renewals. We considered logistic regression, a special case of Generalized Linear Models, to model the binary response variable renewal/lapse. By modelling the response as a function of premium change and other covariates, the lapse probability for each client per amount of premium variation can then be estimated. As premium change is the only covariate the company has direct control over, obtaining such knowledge on each client's price elasticity will allow the insurer to make better decisions, so that a finer balance between customer satisfaction and profitability can be achieved. The model's capacity to predict which clients will cancel their policy was also analysed. In order to transform the output probabilities into binary classifications, several threshold optimisation criteria were compared, to find the threshold generating the best overall discriminatory performance.
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Farhadikashi, M. (Mahboobeh). "Demand response for residential customers:based on real-time price elasticity of electricity." Master's thesis, University of Oulu, 2017. http://urn.fi/URN:NBN:fi:oulu-201710042940.
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This study surveyed the impacts of the expanding Real-Time Price (RTP) scheme on residential electricity consumption when households shift from fixed price to hourly spot prices. A unique and detailed data of electricity consumption had been used. The data are based on working days of winter and summer for Swedish detached houses from 2005 to 2008. Solar power is valuable energy with low emission, which can be achieved by installing solar panels on the household’s roof. Also, it reduces the system cost and provides quick access to energy for customers. The preliminary photovoltaic production evaluated through HARMONIE Numerical Weather Prediction data. Four types of households are analyzed based on various patterns of prices, elasticities, and the share of households in RTP program with and without solar panels.
The results of this study demonstrate that putting more residential customers on RTP contracts will shift load, decrease electricity demand, total capacity, and increase economic welfare. The simulations show that the social welfare gained from increasing the share of customers on RTP are notable. Also, the estimated cost saving indicates that the effect of shifting from a flat rate to RTP is positive. Furthermore, the effect of small-scale solar production on electricity consumption is considered. The combination of RTP with solar energy would lead to a significant decrease in electricity consumption during off-peak periods in winter and both peak and off-peak load in summer.
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Viken, Kjetil. "Elasticity of Money as a Reinforcer: Assessing Multiple Compositions of Unit Price." Thesis, University of North Texas, 1999. https://digital.library.unt.edu/ark:/67531/metadc2234/.
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Behavioral economics is the integration of concepts from micro-economics into behavior analysis. Most of the research in behavioral economics has been done with non-human subjects and with drugs as reinforcers. This study represents an extension of previous research to assess money as a reinforcer with humans as subjects. The participants in this study solved math problems to earn money at various unit prices. Results indicate that demand of money adhered to the law of demand in that consumption decreased as unit prices increased. An underlying assumption is that consumption should be equivalent at different compositions of unit price. Replications of either the same or different compositions of unit price indicated that there were some discrepancies in consumption in this study.
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Wang, Jiankang Ph D. Massachusetts Institute of Technology. "A demand responsive bidding mechanism with price elasticity matrix in wholesale electricity pools." Thesis, Massachusetts Institute of Technology, 2008. http://hdl.handle.net/1721.1/54447.
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Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Electrical Engineering and Computer Science, June 2009.Cataloged from PDF version of thesis.
Includes bibliographical references (p. 219-220).
In the past several decades, many demand-side participation features have been applied in the electricity power systems. These features, such as distributed generation, on-site storage and demand response, add uncertainties to both the short-term and long-term operation of the modem power systems. On the contrary, many modem power systems are characterized by the deregulated market structure. How to operate these features under deregulated power markets is worth consideration. This thesis presents a new demand responsive bidding mechanism in wholesale electricity pools. The proposed bidding mechanism models demand response with Price Elasticity Matrices (PEM). Under the proposed bidding mechanism, the resultant generation schedules and electricity rates become dependent variable on demand response. This relation gives bidding results that are closer to the actual market equilibrium. By applying this bidding mechanism, more efficient market behaviors are achieved in the short term, and generation and transmission resources are better utilizes in the long term. In addition, compared to the market clearing price and generation dispatch schedule settled by the traditional bidding mechanisms, bidding results obtained under our proposed mechanisms are more effective instructions for the design and implementation of demand-side participation programs. This thesis presents the design of the proposed bidding mechanism in terms of its bidding rules, bidding acceptance rules and settlement rules. The bidding mechanism's mathematical model is formulated as an optimization problem.
(cont.) Bidding results are obtained as closed-formed solution of the optimization problem. In addition, this thesis presents an improved market interaction algorithm to implement the bidding mechanism. Multiple benefits of applying the bidding mechanism are shown by numerical example under various system statuses and end-user response types.
by Jiankang Wang.
S.M.
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Kamkwamba, Dasford D. "Analysis of price and income elasticity of demand for fuel products in Malawi." Thesis, Stellenbosch : University of Stellenbosch, 2009. http://hdl.handle.net/10019.1/14901.
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Thesis (MBA)--University of Stellenbosch, 2009.ENGLISH ABSTRACT: This paper examines the price and income elasticity of demand for fuel products in Malawi. The data have been disaggregated into various sectors, agriculture, industry, construction, commercial transport, private motor vehicles and household, in order to fully understand the nature and magnitude of elasticity for each sector. Two methods were used - the simple economic method and the correlation coefficient method. This research covers a period of 10 years from 1995 to 2004. This period has been chosen in order to arrive at meaningful conclusions. The results show that each sector responds to price and income changes differently. The agricultural sector has been found to be inelastic to both price and income both in the short and long term. This sector, however, is sensitive to other factors like drought and currency depreciation. The industrial sector has been found to be very sensitive to both price and income changes both in the short and long term. The same trend has also been established for the construction sector and the commercial transport sector. In the private motor vehicle sector, petrol-powered private motor vehicles have been found to be inelastic to price as well as income both in the short and long term. The reason for this is lack of affordable alternative forms of transport. Tests for diesel-powered vehicles show very elastic results. The demand data may have been distorted by the fact that diesel demand for other equipment than vehicles could not be identified and it has been assumed that diesel bought at filling stations or reseller points is used by vehicles. There is evidence that diesel is also used for maize mills and generators. The household sector has been seen to be very sensitive to price and income changes. The reason for this is availability of substitutes such as charcoal, firewood and other forms of biomass fuel that are extensively used in rural areas. Income sensitivity is purely due to the fact that people in rural areas earn low income. The conclusions for the household sector are that first the government should remove the paraffin subsidy as it is not achieving its intended results. Secondly, the government should establish basic wages and also offer better prices to the subsistence sector.
AFRIKAANSE OPSOMMING: Hierdie proefskrif ondersoek die elastisiteit van prys en inkomste in die aanvraag na brandtstofprodukte in Malawi. Om die aard en omvang van die elastisiteit in elke sektor ten volle te verstaan, is die data gedesegregeer in verskeie sektore, naamlik landbou, nywerheid, die boubedryf, handelsvervoer, privaat motorvoertuie en die huishoudelike sektor. Twee metodes is gebruik: die eenvoudige ekonomiese metode en die korrelasie-koeffisient-metode. Hierdie navorsing beslaan 'n tydperk van tien jaar vanaf 1995 tot 2004. Die tydperk is gekies om sodoende betekenisvolle gevolgtrekkings te kan maak. Die resultate dui aan dat die sektore verskillend op veranderings in prys en inkomste reageer. Daar is bevind dat die landbousektor glad nie elasties is nie wat betref prys sowel as inkomste, sowel op die kort- as langtermyn. Hierdie sektor is egter sensitief vir ander faktore soos droogte en die depresiasie van die geldeenheid. Daar is bevind dat die nywerheidsektor baie sensitief is vir prys-, sowel as inkomsteveranderings op die kort- en langtermyn. Dieselfde neiging is bevind vir die bousektor en die handelsvervoersektor. In die privaat motorsektor is bevind dat petrolaangedrewe motors nie elasties is nie wat betref prys sowel as inkomste op die kort- sowel as langtermyn. Die rede hiervoor is die gebrek aan bekostigbare alternatiewe vervoermiddels. Toetse vir dieselaangedrewe motorvoertuie dui uiters elastiese resultate aan. Die data wat betref aanvraag kon moontlik verkeerd voorgestel word as gevolg daarvan dat die dieselaanvraag vir ander toerusting as voertuig nie geidentifiseer word nie. Daar is veronderstel dat diesel wat by vulstasies en herverkooppunte gekoop is, vir voertuie gebruik is. Daar is bewyse dat diesel ook vir mieliemeule en kragopwekkers gebruik word.
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Mao, Qi. "The elasticity of substitution for US energy price changes between 1947 and 2010." Thesis, Kingston University, 2017. http://eprints.kingston.ac.uk/41957/.
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Since energy price changes have been studies by much literature, this thesis tries to discuss it through the elasticity of substitution. More importantly, this thesis finds that the substitution effect itself cannot completely interpret the phenomenon of energy price changes. This is based on the results of the estimation of the AES, the MES and the CES, as well as some previous studies' results of negative substitution elasticities. This thesis adopts VECM, ADL and panel data as methodologies. Different data is also colelcted and analyzed. Most of the AES estimates are negative and the CES estimation shows many negative elasticities as well. The estimated elasticities from the MES and the Panel dta CES are positive. Out positive elasticities from the MES may are consistent with the previous literature that finds the MES estimation method is better than AES. The negative elasticities of susbtitution as the substitution effects are usually followed by income effects. Based on literature view, if income effects are involved in the energy price changes between energy exporting and importing countries, it may lead to new policy making and application. In addition, there are some other findings: (1) an application approach is used to test the cointegration when variables include I(0), I(1) and share variables. This approach is different from Pesaran, Shin and Smith's (2001) ARDL method which is involved I(0) and I(1) variables. However, in the application, the data being used covers share variables. Share variables sum to unity so they have collinearity. New procedures (ADL) are adopted to solve the problem of collinearity in econometric application. This then allows to analyze I(0), I(1) and share variables together in the model. This is one of our contributions in econometric VECM application. (2) By the literature review in Chapter 4, it's found that the elasticities of substitution vary from economies. Since some economies do not share free flow of capital, labor or energy, their substitution elasticities cannot be estimated as a whole. The different sustitution elasticities in each country show that, when selecting the data, we may refer to a region or a country with a common free flow market for capital, labor and energy. (3) Different data is used in the application. Previous literature uses the data of the UK or other countries to analyze the Allen's elasticity of substitution (AES), or the US data in the period different from that in this study, or uses the familiar data but in technology forecasting. Importantly, the empirical analysis uses the US data to test the Allen's elasticity of substitution (AES) and the constant elasticity of substitution (CES), in order to explore negative estimates of the substitution elasticity.
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Vilimovský, Petr. "PROHIBICE DROG V PODMÍNKÁCH VZÁJEMNÉ SUBSTITUCE NÁVYKOVÝCH LÁTEK V ČESKÉ REPUBLICE." Master's thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-76254.
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This thesis analyzes regulation, prescription and prohibition of drugs in condition of their mutual substitution with other addictive substances in the Czech Republic; thesis investigates prices' and cross-prices' elasticities of substances and their markets. Comparison is made between regulated legal markets of alcoholic beverages and cigarettes, non-prohibitively regulated markets of pharmaceuticals and prohibited markets of illegal drugs. The thesis concludes that the demand for drugs is not price elastic. The demand for drugs is price inelastic but not perfectly price inelastic, as can be deduced based on the concept of A Theory of Rational Addiction developed by Gary S. Becker. The price of drugs, therefore, to some extent affects consumption. This opens the room to influence demand through pricing mechanism. The thesis also verifies The Theory of Economic Regulation developed by George J. Stigler and confirms that due to some substitution relationships between addictive substances it is possible speculate about the interests of producers of alcoholic beverages, cigarettes and pharmaceuticals for prohibition of drugs. Interests of producers of alcoholic beverages and cigarettes confirm their mutually complementary linkages.
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Ahmed, Mehboob U. "Price Elasticity, J-Curve, and the Balance of Trade: An Econometric Study of Bangladesh." Thesis, North Texas State University, 1991. https://digital.library.unt.edu/ark:/67531/metadc164093/.
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Kreycik, Philip W. "Factors affecting the gas price elasticity of travel demand : implications for transportation emissions policy." Thesis, Massachusetts Institute of Technology, 2016. http://hdl.handle.net/1721.1/103265.
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Thesis: M.C.P., Massachusetts Institute of Technology, Department of Urban Studies and Planning, 2016.Cataloged from PDF version of thesis.
Includes bibliographical references (pages 146-154).
This thesis explores the possibility of reducing transportation emissions by reducing the growth of demand for travel in the United States light-duty vehicle fleet. Many government agencies seek to reduce the environmental and social ills associated with excess travel demand (e.g. congestion, reduced safety during travel, local pollution and noise, energy consumption, and climate change). These agencies have many tools at their disposal to reduce vehicle miles traveled (VMT) per capita - including encouraging compact mixed-use development, providing alternatives to single occupancy vehicle travel such as transit and biking and walking infrastructure, and restricting/regulating driving alone for instance by providing less parking. But the fastest way to reduce travel demand is through higher pricing that accounts for the externalities that drivers impose upon each other and society more broadly. The degree to which higher pricing can reduce travel demand is a function of two interrelated factors: 1) how high of a price increase is politically feasible to implement, and 2) the degree to which the driving public responds to the higher cost of driving. Both these factors vary over time. Given that carbon pricing and/or higher gas taxes are likely to take years to gain broader political acceptability, the future price elasticities of travel demand are just as relevant as today's elasticities. Therefore, this thesis focuses on the variability of price elasticity, the factors that explain this variation, and how these factors might change in the future. Using a diverse set of methods including literature review, semi-structured interviews, and odometer data, I find evidence that the magnitude of price elasticity is lower for vehicles of higher fuel economy, for vehicles further from the urban center, and for vehicles in lower income zipcodes. This is the first analysis I am aware of that evaluates the variation of the price elasticity of travel demand within a metro area, an approach that is important to the understanding the political feasibility of pricing and as a lens to the future effectiveness of pricing. It suggests that gas price increases will affect certain households in very different ways, with the most inelastic households simply paying more to maintain their lifestyle and the most elastic households pushed to make significant changes to their daily travel patterns and opportunities. These two types of impact may lead to different types of resistance to the policy. As for the future, the findings regarding fuel economy and distance to the urban center are particularly relevant, as we foresee society continues to become more metropolitan and the vehicle fleet is increasingly comprised of high fuel economy vehicles. Finally, the magnitude of price response suggested by both my interviews and my odometer data analysis suggests that price is still a significant determining factor in distance driven; therefore, policy that increases the cost of driving remains an important emissions reduction strategy.
by Philip W. Kreycik.
M.C.P.
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Crittenden, Dorrell W. "A Study of the Impact of Price Elasticity on the Adoption Decision of Minicomputers." NSUWorks, 2005. http://nsuworks.nova.edu/gscis_etd/469.
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The rate at which a new technology is adopted by a population, called the diffusion rate, has been studied extensively in many fields, particularly the Information Systems field. Price elasticity, the rate at which quantity demanded changes, as a function of price, could be a useful measure in explaining diffusion patterns. In this empirical study, the well- known Bass diffusion model is fitted to a new dataset. Changes in the price elasticity over time were modeled after explaining away the effect of product characteristics in a hedonic regression. The main findings are: a) price elasticity changes over time, b) the changes in price elasticity are related to the life cycle stage of the product life cycle. These findings could offer a valuable empirical guide for managers to evaluate price and the effects of diffusion faced by the adopter population. The implications are that not all adopters react the same with respect to time and price effects. Another important implication suggests that an improved focus on the determinants of price elasticity could also play an important part in the Information Systems decision making process.
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Táboříková, Helena. "Regulace, kultura a cenová opatření a jejich vliv na poptávku po alkoholu." Master's thesis, Vysoká škola ekonomická v Praze, 2013. http://www.nusl.cz/ntk/nusl-165532.
Full textAbstract:
My thesis is aiming to answer the question what are the impacts of alcohol regulative legislation (especially the excise tax) on demand for it. The theoretical part presents various opinions and conclusions regarding the regulatory measures (apart from others Stigler, 1975) and the impact of alcohol price change on the demand for it (Becker, 1988 and his successors). Further on, individual regulatory measures, their development in time and basic reasoning for introducing of the measures are introduced in the work. In its analytical part, the thesis deals with comparison of states with different alcohol consumption levels and with different regulatory measures in effect; the work thus divides the EU-countries to groups of different traditions and level of control (the Global Alcohol Policy Report by WHO is used as a source of information in this regard). The data available for the selected countries are then subject to research regarding statistical relevance of the excise tax - consumption relation. The paper thus answers a question of alcohol demand elasticity and also the question of the differences in the consumption attributes in various cultural and regulatory conditions. As a source of the relevant information, analytical parts of OECD, WHO and CSU (Czech Statistical Office) databases are used in the paper.
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Gemmil, Marin. "The price elasticity of demand for prescription drugs : an exploration of demand in different settings." Thesis, London School of Economics and Political Science (University of London), 2008. http://etheses.lse.ac.uk/2944/.
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Health systems in most high-income countries provide protection against the financial risks associated with ill health on a broadly universal basis, although many impose measures that lower financial protection, for example, by offering a limited package of benefits or requiring beneficiaries to pay part of the cost of health care at the point of use. This last measure, known as cost sharing or user charges, is a policy tool applied mainly to raise revenue for the health system and to enhance efficiency. The neo-classical economic argument for user fees posits that moral hazard exists in health insurance markets, and user fees help combat this "overconsumption" of care. The simultaneous policy argument is that cost sharing reduces unnecessary consumption of prescription drugs, which leads to both expenditure reductions and health improvements. While literature investigating these cost sharing arguments exists, there are still unanswered questions as many of the papers are outdated, others only focus on specific populations, and there are methodological issues surrounding some studies. As estimates vary widely between studies, a methodological approach that obtains an "adjusted" or "composite" price elasticity from the literature by pooling the existing estimates would provide a broad measure of elasticity. Updated estimates of the price elasticity of demand for the general population, the elderly, and low-income individuals in the United States would also be useful for American policymakers given recent changes to public and private insurance coverage. The calculation of estimates for elderly Americans also provides a useful backdrop for comparing estimates from the elderly in British Columbia, Canada. There is a need for economic and policy discussions related to economic efficiency, policy arguments for efficiency in user fees, and equity in the literature. We contribute to filling these gaps by estimating the price elasticity of demand in three main settings: a collection of elasticity estimates from the existing literature, the American population, and the older population in British Columbia, Canada. Based on our results, we determine that the price elasticity of demand is relatively low in all of these settings, even among the low-income group and the general population. Our adjusted price elasticity estimate is an insignificant -0.16, while the elasticity estimates from the American analyses range from an insignificant -0.11 for the elderly to -0.25 for the general population. We obtain an estimate of -0.30 for the elderly in British Columbia. Overall, the sensitivity to user fees depends on the institutional setting, the level of cost sharing, the specific subpopulation examined, and other factors. The implications of these relatively low estimates can be viewed from both an economics and policy perspective. While cost sharing leads to greater efficiency when we define efficiency in a neo-classical economic sense, from a policy perspective user fees may negatively affect beneficiaries' health and equity. The implication is that policymakers should set transparent policy goals and openly discuss whether any detrimental effects of cost sharing are considered acceptable from a policy standpoint.
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Faghih, Ali. "Stochastic dynamic optimization of consumption and the induced price elasticity of demand in smart grids." Thesis, Massachusetts Institute of Technology, 2011. http://hdl.handle.net/1721.1/66028.
Full textAbstract:
Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Electrical Engineering and Computer Science, 2011.Cataloged from PDF version of thesis.
Includes bibliographical references (p. 75-77).
This thesis presents a mathematical model of consumer behavior in response to stochastically-varying electricity prices, and a characterization of price-elasticity of demand created by optimal utilization of storage and the flexibility to shift certain demands to periods of lower prices. The approach is based on analytical characterization of the consumer's optimal policy and the associated value function in a finite-horizon stochastic dynamic programming framework. A general model is first presented, which incorporates both load-shifting and storage, and then, the model is decoupled into two subproblems, one for load-shifting and the other for storage. The study of optimal utilization of storage, which is performed analytically and in the presence of ramp constraints, reveals, as a particularly compelling finding, that the value function is a convex piece-wise linear function of the storage state. Moreover, it is shown that the expected monetary value of storage increases with price volatility, and that when the ramping rate is finite, the value of storage saturates quickly as the capacity increases, regardless of price volatility. Furthermore, it is shown that although the demand for electricity is often deemed to be highly inelastic, optimal utilization of local storage capacity induces a considerable amount of price elasticity of demand. The study of the load-shifting problem is performed under both perfect and partial information about price distribution. It is shown that load-shifting induces considerable consumer savings that increase with price volatility. Furthermore, it is shown that the opportunity to optimally schedule the shiftable loads creates a considerable amount of price elasticity, even when the aggregate consumption over a long period remains insensitive to price variations.
by Ali Faghih.
S.M.
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Charles, Ricardo Keston Michael. "Regional estimates of the price elasticity of demand for natural gas in the United States." Thesis, Massachusetts Institute of Technology, 2016. http://hdl.handle.net/1721.1/104830.
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Thesis: S.M. in Technology and Policy, Massachusetts Institute of Technology, School of Engineering, Institute for Data, Systems, and Society, Technology and Policy Program, 2016.Cataloged from PDF version of thesis.
Includes bibliographical references (pages 87-92).
A misalignment of incentives in the gas pipeline construction process has caused growth of gasfired generation to outpace investment in new pipelines in New England. Limited gas capacity to the region has resulted in power reliability issues, particularly during severe winter weather when gas demand is high. The majority of proposed solutions have focused on increasing gas supply. However, demand response in the natural gas retail market is a potential alternative answer. To quantify the benefits of gas demand response regional and state level price elasticities of demand for natural gas must be known. In this thesis, the price elasticity of demand for natural gas in the U.S. was estimated for the period 2001 to 2014 at the national, regional and state levels for the residential, commercial and industrial sectors. Differences in demand estimates were observed when performed at the different aggregate data levels and sectors. However, not all the regional and state estimates obtained for each sector showed statistically significant differences from each other or the national level. The short-run regional estimates for New England were used in a simple demonstration of gas demand response to show how they could have been used to mitigate the effects of the 2014 cold snap on electricity generation. Prices were optimized such that they reduced gas demand from retail markets by the amount of fuel that generators were short while minimizing the total deadweight loss.
by Ricardo Keston Michael Charles.
S.M. in Technology and Policy
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Hössinger, Reinhard, Christoph Link, Axel Sonntag, and Juliane Stark. "Estimating the price elasticity of fuel demand with stated preferences derived from a situational approach." Elsevier, 2017. https://publish.fid-move.qucosa.de/id/qucosa%3A72337.
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An evidence-based policy debate about future fuel demand requires reliable estimates for fuel price elasticities. Such predictions are often based on revealed preference (RP) data. However, this procedure will only yield reliable results in the absence of severe structural discontinuities. In order to overcome this potential limitation we used a situational stated preference (SP) survey to estimate the response to hypothetical fuel price changes beyond the scope of previous observations. We elicit fuel price elasticities for price increases up to four Euros per liter and find that the situational approach predicts the actual responses to previously observed fuel price changes very well. We conclude that applying a situational approach is particularly useful, if behavioral predictions for unprecedented (non-monetary) policy interventions or supply side shocks are of interest that go beyond the reach of standard RP approaches.
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Fredriksson, Henrik. "Husqvarna AB : a study on pricing and quality." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Nationalekonomi, 2006. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-14481.
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This thesis will compare and examine three different chainsaw models with re-spect to price, elasticity, price discrimination, product differentiation and durabili-ty. The three different saws are all aiming at different customer groups; hobby users, leisure users and professional users. The demands and needs of this groups differs a lot. The hobby users have the largest amount of different saws to choose from, this is a field with many different brands and the quality varies a lot, this implies that here is a fierce competition with respect to price. This indirect affects the elastic-ity and possibilities to price discriminate and product differentiation. I found that this model has the highest elasticity which is perfectly inline with the theory. Here is also a low possibility to price discriminate and the durability is the low-est. The other two models examined, the leisure and professional, are located in less competitive segments and from this follows that the professional model which has the smallest amount of competitors also has the lowest elasticity. Here was also the possibility to price discriminate the highest, durability the best and the product were viewed as differentiated.
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Maniar, Megha. "The Great Indian Affordable Housing Crisis: Determining the Price and Income Elasticities of Urban Rental Housing Demand." Scholarship @ Claremont, 2012. http://scholarship.claremont.edu/cmc_theses/328.
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The Indian urban rental market is complex and yet ever-changing, with the ups and downs of housing demand playing a fundamental role in the affordability and stability of the market. This paper determines the income and price elasticities of demand using the demand function and Slutsky equation, respectively, for the urban rental market in order to help craft suitable national housing policy. Through this analysis, it is determined that the urban rental price elasticity of demand is -0.93 and the income elasticity is 0.81, suggesting that rental price subsidies and private income taxes are the most effective policy measures to ensure affordability in urban India.
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Pires, Brenda Reis Nunes Veiga. "O impacto da variação do preço na procura de cuidados de saúde." Master's thesis, Escola Nacional de Saúde Pública. Universidade Nova de Lisboa, 2010. http://hdl.handle.net/10362/6573.
Full textAbstract:
RESUMO - Assiste-se a um crescimento exponencial das despesas em saúde, quer na Europa
como nos Estados Unidos. Em Portugal, os gastos totais com a saúde ascenderam
a 10,2% do PIB, em 2006, contra os 8,8% registados no início da década anterior.
É importante perceber o que motiva este crescimento quer em termos globais, quer
no que diz respeito ao consumo de recursos, bem como até em termos da despesa
pública. Este projecto tem dois objectivos fundamentais: em primeiro lugar,
contribuir para o estudo dos factores determinantes da procura de cuidados de
saúde em Portugal e, consequentemente, determinar as elasticidades procura –
preço para diferentes tipos de cuidados de saúde.
Metodologia: Estudo observacional baseado na análise empírica de dados
administrativos (claims) respeitantes à utilização dos cuidados de saúde por parte
de 12.230 indivíduos detentores de um plano de seguro de saúde individual, numa
seguradora privada em Portugal. As elasticidades procura – preço para os diferentes
tipos de cuidados de saúde obtiveram-se utilizando as variações percentuais das
quantidades dos diferentes cuidados de saúde, antes e depois da variação do preço
pago pelo indivíduo, para cada tipo de cuidado de saúde.
Resultados: De acordo com a teoria económica tradicional o aumento do preço a
pagar reduz o consumo de cuidados de saúde, e a procura é elástica, ou seja, os
valores da elasticidade procura – preço obtidos são superiores a 1, em valor absoluto,
logo o aumento do preço levou a uma redução mais do que proporcional das
quantidades procuradas. A procura de cuidados de saúde em ambulatório é mais
sensível à variação do preço do que a procura de cuidados de internamento. ------- ABSTRACT - We are witnessing an exponential growth of health care expenditures around the
world. In Portugal, the total expenditure on health amounted to 10.2% of GDP in 2006,
against 8.8% at the beginning of previous decade. It is important to understand what
motivates this growth both in overall terms, with respect to resource consumption,
and even in terms of public spending.
This study was designed two achieve two objectives: first, to contribute to the study
of demand for health care and, more specifically, to analyze the effect of price
changes on the utilization of health care services; and secondly, to estimate the demand
elasticity for different types of heath care.
Methodology: Observational study based on empirical analysis of administrative data
(claims) from a private health insurance Company in Portugal. The sample used had
information regarding 12.230 individuals.
Demand elasticity for the different types of health care services was obtained by the
quotient between the percentage changes in the quantity of health care services,
before and after the change in the price paid by the corresponding percentage
change in the price.
Results: This study showed that, for all medical services, price increases were associated
with reductions in the quantity of care consumed as predicted by neoclassical
demand theory, and we are in the presence of an elastic demand. This means
that price elasticity is greater than 1 in absolute value so the increase in the price
led to a more than proportional reduction in the quantity demanded. Demand elasticity
was more responsive to changes in the price of specialist and emergency care
than to changes in the price of inpatient care.
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Lee, Seonah. "Study of demand models and price optimization performance." Diss., Georgia Institute of Technology, 2011. http://hdl.handle.net/1853/42914.
Full textAbstract:
Accurately representing the price-demand relationship is critical for the success of a price optimization system. This research first uses booking data from 28 U.S. hotels to investigate the validity of two key assumptions in hotel revenue management. The assumptions are: 1) customers who book later are willing to pay higher rates than customers who book earlier; and, 2) demand is stronger during the week than on the weekend. Empirical results based on an analysis of booking curves, average paid rates, and occupancy rates for group, restricted retail, unrestricted retail, and negotiated demand segments challenge the validity of these assumptions. The combination of lower utilization rates and greater product differentiation suggests that hotels should apply different approaches than simply matching competitor rates to avoid losing market share. On days when inventory is near capacity, traditional yield management tactics deliver tremendous value, but these should be augmented by incorporating price response of demand and competition effects. On days when demand is soft and occupancy is projected to be low, price and competition based strategies should dominate.
The hotel price optimization problem with linear demand model is a quadratic programming problem with prices of products that utilize multiple staynight rooms as the decision variable. The optimal solution of the hotel price optimization problems has unique properties that enables us to develop an alternative optimization algorithm that does not require solving quadratic optimization problem. Using the well known least norm problem as a subroutine, the optimization problem can be solved as finding a minimum distance between a polyhedron defined by non-negative demand and capacity constraints. This algorithm is efficient when only a few of the staynights are highly constrained.
In practice, the choice of a demand model is largely driven by the ease of estimation and model fit statistics such as R2 and mean absolute percentage error (MAPE). These metrics provide measures of statistical validity of the model, however, they do not measure how well the price optimization will perform which is the ultimate interest of the practitioners. In order to measure the impact of demand models on price optimization performance, we first investigate the goodness of fit of linear demand models with different driver variables using actual data from 23 U.S. hotels representing multiple brands and location types. We find that hotels within the same location types (such as urban, suburban, airport) share similar driver variables. Airport and
suburban hotels have simpler model specifications with less drivers compared to the urban hotels. The airport hotel demand models are different from other location hotels in that the airport hotel demand level does not differ by day of week. We then measure the impact of demand model misrepresentation on the performance of price optimization through simulation experiments, which are performed for different levels of demand and forecast accuracy to represent various market environments that hotels operate in. We find that using models with missing driver variables can reduce the potential revenue by 13%∼53% and using the wrong functional form
5%∼43% under our simulation environment. The findings from our research imply that correctly representing the demand model in price optimization is crucial to its success. In order for hotels to realize the maximum potential revenue through pricing, efforts should be focused on identifying the major driver variables influencing demand including the ones that we found to be significant.
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Abrams, Levern Jayson. "An analysis of the retail price elasticity of demand for a leading fuel company / by Jayson L. Abrams." Thesis, North-West University, 2009. http://hdl.handle.net/10394/4303.
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Zhang, Jie. "An analysis of the tuition price elasticity of international undergraduates at four-year institutions in the United States." Thesis, University of Missouri - Columbia, 2017. http://pqdtopen.proquest.com/#viewpdf?dispub=10157766.
Full textAbstract:
The purpose of this study is to examine how out-of-state tuition and fees affects international undergraduate enrollment at U.S. four-year institutions. This study adopts the student demand theory as the theoretical framework to guide the quantitative design of the research. The data source was the Delta Cost Project version of IPEDS. The dependent variable of this study was the total number of international undergraduate enrollment at a four-year institution. The key independent variable was the out-of-state tuition and fees charged by an institution. Additionally, three vectors of variables for measuring the quality of institutional inputs, process, and outputs respectively were added as controls. Analytically, fixed effects regression was conducted to both a full sample data range from 1991 to 2010 and a shorter sample focused on the specific period of 2005-2010. The results of this study suggest international undergraduate students are generally inelastic to the changes of tuition and fees during the last two decades (1991- 2010), but tend to become less inelastic in recent years (2005-2010). However, this general inelastic relationship between international undergraduate enrollment and tuition and fees can vary significantly across different institution types. The findings of this study have important implications to student demand theory, institutional policy-making and future research.
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Oesterle, Ines. "Did car travel reach a peak in Australian cities? Evidence on the determinants of a decrease in car travel." Thesis, The University of Sydney, 2017. http://hdl.handle.net/2123/17354.
Full textAbstract:
The main research question addressed in this study is to what extent increases in fuel prices, housing expenditure and public transport usage, and a change in the effect of economic growth on demand can explain the decline in car travel per capita in Australian cities since 2004. It addresses the hypotheses that car travel per capita has decreased because the relationship between economic growth and car travel demand has weakened and car travel has become less affordable. The study presents an econometric analysis of a panel data set of eight Australian capital cities for the period 1982-2014. It first estimates a base model of car travel demand using a fixed effects model with Driscoll and Kraay standard errors. This base model specifies car travel as a function of economic output, fuel prices, housing expenditure, public transport use, vehicle ownership rate and employment as independent variables. Key economic variables are then split into two groups to test if there are differences in the explanatory power of these variables before and after the trend reversal in car travel demand in 2004. The analysis does not find a weakening in the relationship between economic growth and car travel demand and hence this cannot be said to have contributed to declining car travel per capita in Australia. The study finds that decreasing car travel demand in Sydney, Adelaide, Hobart and Canberra can be explained by an increase in housing expenditure and fuel prices. In Melbourne, Perth, Brisbane and Darwin, it was driven by these two factors and, in addition, growth in public transport use observed between 2004 and 2014.
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Cardoso, Larissa Barbosa. "Essays on economics of obesity and food prices : theory and evidences for Brazil." reponame:Biblioteca Digital de Teses e Dissertações da UFRGS, 2015. http://hdl.handle.net/10183/132933.
Full textAbstract:
O objetivo desta tese é analisar a influência do preço dos alimentos sobre o crescimento da obesidade no Brasil e avaliar os efeitos de uma política baseada no preço como instrumento de prevenção da obesidade. Essas questões foram analisadas em três ensaios que utilizam da estrutura econômica, baseada no princípio de racionalidade econômica, para compreender as escolhas individuais quanto à ingestão e gasto calóricos e a dinâmica do ganho de peso dos brasileiros. O ensaio 1 identifica as principais mudanças no índice de massa corporal (IMC) dos brasileiros e estima a contribuição dos preços dos alimentos a partir dos métodos de distribuição relativa e de decomposição contrafactual. Verificou-se que, concomitante ao aumento da obesidade, um deslocamento para a direita da distribuição do IMC revelando: a) uma maior densidade de indivíduos nas regiões de sobrepeso e obesidade; e b) um aumento do IMC mediano uma maior dispersão em torno deste. Os resultados indicaram que o aumento de preço observado entre 2002 e 2009 foi importante para conter o avanço da obesidade. Contudo, o efeito dessa variação (efeito nível) foi inferior àquele verificado para a mudança do impacto dos alimentos sobre o IMC (efeito estrutura). Os preços de alimentos como refrigerantes, carne e leite integral mostraram-se bastante significativos. Por outro lado, a renda e os anos de estudo contribuíram positivamente para o aumento do IMC no período analisado. Considerando os efeitos obtidos para o preço de refrigerantes sobre o IMC, bem como sua associação positiva do consumo desta bebida com obesidade, os ensaios 2 e 3 avaliaram os efeitos individuais e agregados, respectivamente, da adoção uma política de saúde baseada no aumento de impostos sobre bebidas açucaradas. No ensaio 2, adotou-se o modelo de duas partes para estimar as elasticidades preço demanda, as quais indicaram que o aumento do preço de bebidas açucaradas (refrigerantes e sucos) reduz o consumo, especialmente dos grupos que mais consomem destas bebidas. O resultado sobre o peso apresentou magnitude modesta, porém esta medida mostrou-se relevante na prevenção da obesidade, dado que maiores perdas de peso foram observadas na faixa próxima ao IMC correspondente à obesidade. Os efeitos em termos agregados foram simulados a partir do modelo de preços derivado da matriz de insumo produto, e os resultados mostram que uma política tributária sobre refrigerantes tende a gerar poucos efeitos adversos para a economia, com redução da produção do referido setor e daqueles diretamente inter-relacionados sendo compensada pelo aumento na produção de outros setores. O mesmo foi observado para o emprego, que apresentou variação positiva. No que se refere ao consumo, dado que em termos individuais o aumento tributário de 10% contribui para reduzir o consumo em 6,1%, a despesa de consumo agregado das famílias sofreria redução de 2,1%, com maior redução verificada na faixa de renda intermediária. Diante disso, conclui-se que a redução no preço dos alimentos mais calóricos observada nos últimos anos teve impacto sobre o peso dos brasileiros, e portanto, poderia ser levada em consideração na estruturação de políticas públicas para o combate à obesidade.The objective of this thesis is to analyze the influence of the price of food on the growth of obesity in Brazil and to assess the effects of a policy based on price as a prevention instrument against obesity. These issues were analyzed in three essays that make use of the economic structure, based on the principle of economic rationality, in order to understand individual choices about calorie intake and expenditure and the dynamics of weight gain of Brazilians. Essay 1 identifies the main changes in Body Mass Index (BMI) of Brazilians and estimates the contribution of food prices from the relative distribution method and of counterfactual decomposition. It was verified that, concomitant to the increase in obesity, there is a shift towards the right of the BMI distribution revealing: a) a greater density of individuals in the regions of overweight and obesity; and b) an increase of the medium BMI a major dispersion around this. The results indicated that the price increases observed between 2002 and 2009 were important to contain the advance of obesity. However, the effect of that variation (level effect) was lower than that observed for the change of the impact of food on BMI (structure effect). The prices of foods such as soft drinks, meat and whole milk showed to be quite significant. On the other hand, income and years of study contributed positively for the increase of the BMI in the analyzed period. Considering the effect obtained for the price of soft drinks on BMI, as well as the positive association of consumption of this type of beverage with obesity, essays 2 and 3 evaluated the individual and aggregate effects, respectively, of the adoption of a health policy based on the increase of taxes on sugary drinks. In essay 2, the two part model was adopted in order to estimate the price-demand elasticity, which indicated that the price increase of sugary drinks (soft drinks and juices) reduce the consumption, especially of the groups that most consume these beverages. The result on weight presented a modest magnitude; however this measure showed to be relevant in the prevention of obesity, since the greater weight losses were observed in the group nearest to the BMI corresponding to obesity. The effects in aggregate terms were simulated parting from the price model derived from the product input matrix, and the results show that a tax policy on soft drinks tends to generate few adverse effects for the economy, with a production reduction of that sector and those directly interrelated being offset by increased production in other sectors. The same was observed for employment, which presented a positive variation. Regarding consumption, since in individual terms the 10% tributary increase contributed to reduce consumption in 6,1%, the aggregate consumption expenditure of households would suffer a reduction of 2.1%, with greater reductions observed in the middle-income range. Therefore, it is concluded that the reduction in the price of high-calorie foods observed in recent years has had an impact on the weight of Brazilians, and therefore, could be taken into account in the structuring of public policies for the fight against obesity.
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Baek, Youngsun. "Responsiveness of residential electricity demand to changes in price, information, and policy." Diss., Georgia Institute of Technology, 2011. http://hdl.handle.net/1853/39581.
Full textAbstract:
This study analyzes consumers' behavioral responsiveness to changes in price and policy regarding residential electricity consumption, using a hybrid method of econometric analyses and energy market simulations with the National Energy Modeling System (NEMS). First, this study estimates price elasticities of residential electricity demand with the most recent Residential Energy Consumption Survey (RECS) data, collected in 2005, employing a conventional econometric model and a discrete/continuous choice model. Prior to the NEMS experiments with price shocks and consumers' behavioral features, this study uses NEMS to examine how energy policies would affect changes in retail electricity price in the future.
When climate policies are implemented nationally, electricity prices are estimated to increase by 17% in 2030 with a carbon cap and trade initiatives and by 4% with Renewable Electricity Standards (RES). The short-run elasticity of demand estimated from the 2005 RECS is found to be in a range of -0.81 ~ -0.66, which is more elastic than the current NEMS assumption of -0.15. The 2005 RECS dataset details information about American households' energy consumption. This rich source of micro-level data complements the existing econometric analysis based on time series data.
Electricity price (either census-division average price or household average price), annual income and number of rooms are found to be three major determinants of the level of electricity consumption. The difference in short-run price elasticity leads to a difference in social welfare estimates of energy policies and energy market forecasts. This study suggests that the estimate of social welfare loss caused by electricity price increase is overestimated if the elasticity is assumed to be smaller than the actual responsiveness. Supposing that 1) the short-run elasticity of -0.66 reflects the actual consumers' responsiveness to price changes in the present and future and 2) retail
electricity prices permanently increase by 10%, the welfare loss caused by the price increases would be estimated 0.9 billion dollars less than the current estimates with the elasticity of -0.15. This result suggests that if people are assumed to be more elastic to price signals, the time it takes for a policy to accomplish its goal could be shorter.
In addition to assessing potential savings expected from consumers' behavioral changes with the concept of price elasticity of demand in neoclassical economic theory, this study reviews economic and non-economic theories about behavioral features of energy consumers and discusses how existing information programs could be improved.
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周煒強 and Wai-keung Chow. "The pricing of Hong Kong wattants: an empirical study of the performance of the Kassouf, Black-Scholes andconstant elasticity variance option pricing models." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1993. http://hub.hku.hk/bib/B31977297.
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Anderson, Paul. "Household consumption of electricity : an estimation of the price and income elasticity for pre-paid users in South Africa." Master's thesis, University of Cape Town, 2004. http://hdl.handle.net/11427/5759.
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Soares, Sara Filipa Carreira. "Aumento das taxas moderadoras nas urgências hospitalares : que impacto sobre a procura?" Master's thesis, Escola Nacional de Saúde Pública. Universidade Nova de Lisboa, 2013. http://hdl.handle.net/10362/11372.
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RESUMO - Objetivo: Quantificar a variação da procura ocorrida no Serviço de Urgência Hospitalar (SUH) de um hospital na zona de Lisboa face ao aumento de preço da taxa moderadora da urgência em janeiro de 2012. Metodologia: O presente trabalho recorre à análise de micro dados sobre a utilização do Serviço de Urgência do Hospital Garcia de Orta (HGO) em dois períodos: 1 de janeiro de 2011 a 30 de junho de 2011 e 1 de janeiro de 2012 a 30 de junho de 2012. A amostra é constituída por 156.654 idas ao SUH do HGO. Aferiu-se ainda a elasticidade da procura face ao preço por sexo, escalão etário, proveniência, local e causa da admissão e destino dos utentes. Resultados: Existiram 80.344 episódios de urgência em 2011 e 76.310 em 2012 (-5%).Em relação aos utentes não isentos, houve uma redução de 12% no total de episódios de urgência (26.168 em 2011 e 23.037 em 2012). O preço da urgência aumentou 108% para os indivíduos não isentos (€9,6 para €20). Os valores obtidos para a elasticidade da procura face ao preço são próximos de zero para o total da procura bem como para as restantes variáveis. Conclusões: Conclui-se que a procura de cuidados de urgência é inelástica face ao aumento do preço no hospital analisado. Embora se tenha verificado uma redução dos cuidados procurados (12%), esta foi muito inferior ao aumento ocorrido no preço (108%).ABSTRACT - Objetive: Quantify the difference of the demand in the emergency service in Lisbon's Hospital against the increase price of cost sharing at urgency in January 2012. Methodology: This paper uses the analysis of micro data on the use of the emergency service of the Hospital Garcia de Orta in two periods: 1 January 2011 to 30 June 2011 and 1 January 2012 to 30 June in 2012. The sample consists of 156.654 visits to the emergency service of the hospital. It also gauged the demand elasticity over the price by sex, age group, origin, location and cause of admission and destination users. Results: There were 80.344 episodes of urgency in 2011 and 76.310 in 2012 (-5%). Regarding non-exempt users, there was a 12% reduction in total episodes of urgency (26.168 in 2011 and 23.037 in 2012). The price of the urgency increased 108% for individuals not exempt (€ 9.6 to € 20). The values obtained for the elasticity of demand over the price are close to zero for the total demand as well as for all other variables. Conclusions: We conclude that the demand for emergency care is inelastic over the price increase in hospital analyzed. Although there was a reduction of care sought (12%), this was much lower than the increase for the price (108%).
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Hatz, Charles Nicholas II. "Panel data analysis of fuel price elasticities to vehicle-miles traveled for first year participants of the national evaluation of a mileage-based road user charge study." Thesis, University of Iowa, 2011. https://ir.uiowa.edu/etd/1145.
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The impact of fuel price changes can be seen in practically all sectors of the United States economy. Fuel prices directly and indirectly influence the daily life of most Americans. The national economy as well as the high standard of living we have come to enjoy in the United States is run on gasoline. Since the late 1990's the days of cheap oil and $1.00 gallons of gas are clearly over, understanding the influences of fuel price is more important now than ever. Since 1998 regular gasoline prices have increased $0.22 per gallon per year on average through the present with little evidence suggesting this trend will slow down or reverse substantially. The drastic and permanent change to the status quo of fuel prices has potentially rendered traditional knowledge of fuel price elasticities inapplicable to current analysis. Obtaining accurate measures of fuel price elasticities is important as it is used as a measure of personal mobility and can be related to the quality of life the public is experiencing. Price elasticities are also used in determining the future revenue available for surface transportation projects. Traditionally, short-run fuel price elasticities are thought to be inelastic allowing transportation agencies to ignore short-run fuel price changes to some degree when creating future projects and evaluating its economic feasibility. By using driving data collected from The National Evaluation of a Mileage-based Road User Study the fuel price elasticity of vehicle-miles traveled (VMT), as well as the sensitivity of gas prices relative to a historical high price, were estimated for the first year study participants using a panel data set approach with linear regression. The short-run fuel price elasticity of VMT was determined to be -1.71 with a range of -1.93 and -1.48. The elasticities found were significantly higher than the average short-run fuel price elasticity of -0.45 but can be rationalized by the impact poor economic conditions as well as the historically high fuel prices experienced prior to the researches time table had on the individuals driving behavior. The results suggest current short-run elasticities are not inelastic, if this trend continues transportation agencies must re-evaluate how they predict the future funding available for surface transportation projects.
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Eriksson, Liselotte. "The Making of the Swedish Life Insurance Market 1855-1914." Licentiate thesis, Umeå University, Department of Economic History, 2008. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-19951.
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This licentiate thesis examines the development of the life insurance industry during the period 1855-1914. The aim with the study is to recognise dimensions not frequently addressed by previous research on the insurance industry, namely the impact of social dimensions, including the implicit and explicit economic importance of social movements and the diffusion of knowledge in society at large for the development of the life insurance industry. The study shows that income and price had limited importance in explaining the demand for life insurance before the 20th century and that this can be attributed to a lack of sufficient knowledge regarding financial issues and to a far too high access cost in acquiring a life insurance for a large part of society. The development of the life insurance industry must therefore be understood through improved knowledge both on the part of the life insurance companies and on part of the consumers. The licentiate further shows how diffusion of knowledge throughout society also was due to a diffusion of democratic ideas and the rise of social movements, movements that life insurance actors were a part of. These actions helped open up the financial market for the masses and probably also strengthened the trust towards the industry. It is however hard to dismiss the life insurance actors’ engagement in women’s movement as a cover-up for other disguised motives not so honourable, while a direct economic gain for the life insurance industry is hard to establish.
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Devaraj, Srikant. "Specification and estimation of the price responsiveness of alcohol demand| A policy analytic perspective." Thesis, Indiana University - Purdue University Indianapolis, 2016. http://pqdtopen.proquest.com/#viewpdf?dispub=10032406.
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Accurate estimation of alcohol price elasticity is important for policy analysis – e.g.., determining optimal taxes and projecting revenues generated from proposed tax changes. Several approaches to specifying and estimating the price elasticity of demand for alcohol can be found in the literature. There are two keys to policy-relevant specification and estimation of alcohol price elasticity. First, the underlying demand model should take account of alcohol consumption decisions at the extensive margin – i.e., individuals’ decisions to drink or not – because the price of alcohol may impact the drinking initiation decision and one’s decision to drink is likely to be structurally different from how much they drink if they decide to do so (the intensive margin). Secondly, the modeling of alcohol demand elasticity should yield both theoretical and empirical results that are causally interpretable. The elasticity estimates obtained from the existing two-part model takes into account the extensive margin, but are not causally interpretable.
The elasticity estimates obtained using aggregate-level models, however, are causally interpretable, but do not explicitly take into account the extensive margin. There currently exists no specification and estimation method for alcohol price elasticity that both accommodates the extensive margin and is causally interpretable. I explore additional sources of bias in the extant approaches to elasticity specification and estimation: 1) the use of logged (vs. nominal) alcohol prices; and 2) implementation of unnecessarily restrictive assumptions underlying the conventional two-part model. I propose a new approach to elasticity specification and estimation that covers the two key requirements for policy relevance and remedies all such biases. I find evidence of substantial divergence between the new and extant methods using both simulated and the real data. Such differences are profound when placed in the context of alcohol tax revenue generation.
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Cabral, Renata Fonseca. "Estimativa econométrica das elasticidades renda e preço da demanda por gás natural para o setor industrial brasileiro." Universidade de São Paulo, 2013. http://www.teses.usp.br/teses/disponiveis/86/86131/tde-05062014-222010/.
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Este trabalho tem como objetivo estimar a elasticidade renda e preço da demanda por gás natural no Brasil para o setor industrial brasileiro. O segmento de consumo industrial representa cerca de dois terços do consumo de gás natural no país, destacando sua importância estratégica na elaboração de política energética relacionada ao gás. Este trabalho apresenta também o incremento nas trocas internacionais de gás natural e a perspectiva de aumento do uso desse energético no Brasil e no mundo. Alguns desafios ainda se colocam para a efetiva globalização dessa indústria, como: a necessidade de realização de investimentos em infraestrutura de produção, transporte e distribuição; o aprimoramento do acesso às principais reservas do hidrocarboneto; e as incertezas com relação à evolução da demanda. Utiliza-se o estudo estatístico econométrico para estimar as elasticidades preço e renda, ou seja, para investigar como a demanda industrial brasileira reage frente a um aumento ou diminuição de preço do gás e das variações na renda disponíveis no Brasil. Como proxy da renda industrial utilizam-se os dados do PIB industrial brasileiro. Após identificar que as séries estudadas eram não estacionárias, optou-se pela utilização do conceito de cointegração. Os resultados obtidos por meio do referido modelo mostraram que a demanda estudada é muito mais sensível a variações do preço do gás natural do que a variações na renda. Desse modo, constatou-se que, no Brasil, preços mais competitivos obtêm melhores resultados para o crescimento da demanda por gás natural do que aumentos da renda.The purpose of the present study is to estimate the elasticity, mainly in terms of price and income, of the demand for gas natural in the Brazilian industrial sector. The industry represents around two-thirds of the natural gas consumption in the country, highlighting strategic importance in creating energy policy related to natural gas. This paper also presents the evolution in international trade of natural gas and the perspectives of increased in the use of this energy source in Brazil and worldwide. Some challenges still lay ahead for effective intensification of the gas industry in the country, such as: the increase of investments in infrastructure for production, transport and distribution; the development to the access to major hydrocarbon reserves; the improvements to deal with uncertainties regarding the evolution of demand. Econometric tools are used to estimate price and income elasticity for the Brazilian industrial sector, in other words, to investigate how the natural gas demand reacts to an increase / decrease in the price of gas and in the available income. The industrial GDP is used as a proxy for income. After determining that the series under study were non-stationary, the co-integration approach was chosen and Vector Error Correction Model (VEC Model) was applied. The obtained results show that the price elasticity in the industrial sector in Brazil is significantly higher than income elasticity.
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Huang, Yizhang. "Estimating Response to Price Signals in Residential Electricity Consumption." Thesis, Uppsala universitet, Institutionen för geovetenskaper, 2013. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-200633.
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Based on a previous empirical study of the effect of a residential demand response program in Sala, Sweden, thisproject investigated the economic consequences of consumer behaviour change after a demand-based time ofuse distribution tariff was employed. The economic consequences of consumers were proven to bedisadvantageous in terms of unit electricity price. Consumers could achieve more electricity bill saving throughstabilising their electricity consumption during peak hours, and this way bring least compromising of theircomfort level.In order to estimate the price elasticity of the studies demand response program, a new method of estimationprice elasticity was proposed. With this method, the intensity of demand response of the demand responseprogram was estimated in terms of price elasticity. Regression analysis was also applied to find out the priceincentives of consumer behaviour change. And the results indicated that the rise in electricity supply chargehardly contributes to load reduction, while the demand-based tariff constituted an advantageous solution on loaddemand management. However stronger demand response still
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Konduru, Karun K. "Long run changes in driver behavior due to variable tolls." Texas A&M University, 2003. http://hdl.handle.net/1969.1/293.
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As many variable pricing projects are still in the implementation stage, long-run driver responses to the variable tolls are largely unknown. This research examined the long-run changes in driver behavior in an existing variable pricing project in Lee County, Florida. Using empirical evidence, it was found that over time the price elasticities of demand on the Lee County toll bridges have decreased from -0.42 to -
0.11 (Midpoint Memorial Bridge) and from -0.31 to -0.06 (Cape Coral Bridge) during the early morning discount period. The elasticities have decreased, but to a lesser extent, during the late morning and early afternoon discount periods. A discount period volume spreading ratio was also developed to analyze these changes. The results from this analysis confirmed the elasticity results. In addition to the empirical analysis of travel patterns discussed above, a telephone survey of drivers was conducted. The survey results indicated that certain driver characteristics such as higher frequency of trips, commute trip purpose, full-time employment status, more people in the household, higher education, and age between 25-34 years, were all indicators that the participant may increase his or her variable pricing usage over time. Other characteristics, including being retired and having a household income less than $16,000, were indicators that the driver may not increase variable pricing participation. Binary logit and semiparametric models were also developed to examine socio-economic and commute characteristics that may influence a driver increasing his or her participation in a variable pricing program. The results from these two variable toll bridges in Lee County indicated a decrease in variable toll price elasticity over time. However, these results may not be typical for variable pricing projects. Factors such as alternative routes, different traveler demographics, traffic congestion levels, and size of the toll discount may influence the results obtained from other variable pricing projects. However, the methodology developed in this research can be applied to other projects in order to determine those toll price elasticities of demand.
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Salame, David, and Harley Klerck. "The Impact of House Price Changes on Household Savings : A panel data study of the impact of the changes in house prices and interest rates on household savings in Europe." Thesis, Södertörns högskola, Nationalekonomi, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-32775.
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Real estate remains to be a major component of wealth for households as the market value of houses continues to rise noticeably again, as before the global recession 2007. Understanding households’ responses to changes of house prices and interest rates is important as fluctuations of these kind affect their preferences of saving. This thesis examines the impact of house price- and interest rate changes on household savings with the usage of secondary panel data from seven European countries. Providing a definite estimation of the interest elasticity of saving for households is not conceivable with any confidence considering the difficulties in estimating differential behavior. In accordance to previous studies the result of house prices is significant negative regarding household savings. However, the repo rate contradicts earlier results with a significant negative correlation toward household savings indicating an increased confidence due to a behavioral shift. In conclusion, this study shows that internal effects are of great importance as several factors suffer from high internal impact.
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Manhães, Giácoma Frasson. "Elasticidade de substituição: contribuição à análise de competitividade da indústria brasileira de celulose." Universidade de São Paulo, 2011. http://www.teses.usp.br/teses/disponiveis/3/3137/tde-01062011-130256/.
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O setor brasileiro de celulose é um importante pilar da economia nacional. Só em 2010 a exportação de celulose trouxe para o País US$ 4,7 bilhões. Dada a sua importância, este setor já foi alvo de vários estudos de competitividade. No entanto, a mudança no cenário concorrencial global, marcada pela entrada de novos agentes, requer uma avaliação da posição competitiva do Brasil frente aos concorrentes emergentes. Neste contexto, este trabalho teve como objetivo identificar os novos players, descrever a dinâmica concorrencial nos principais mercados, propor ferramentas adequadas para avaliar os resultados dos países exportadores de celulose de fibra curta, e explicar as razões de liderança entre os países exportadores. A fim de mensurar os resultados dos países fornecedores, foi empregada uma função de subcusto translog restrita para obtenção da elasticidade de substituição entre as polpas de fibra curta dos principais países exportadores. Para essa análise foram considerados, separadamente, os mercados americano e chinês. Os resultados obtidos foram analisados levando-se em conta aspectos técnicos da polpas de fibra curta, com foco na morfologia das fibras, e também o histórico de formação dos setores de celulose no Brasil, na Indonésia (fornecedor emergente, principal fornecedor de celulose de fibra curta para a China) e no Canadá (fornecedor tradicional de celulose, principal concorrente do Brasil nos Estados Unidos). Foram também avaliadas as barreiras de mercado à polpa indonésia a partir do testemunho de funcionários e dirigentes de fábricas de papel na América do Norte, Europa e Ásia. As observações feitas sobre a organização setorial e tecnológica dos concorrentes foram comparadas aos modelos correntes de catch up tecnológico a fim de se identificar comportamentos que contribuam para a extensão da teoria nesta área. Os resultados do trabalho indicam que a competitividade brasileira no setor de celulose se apoia na produtividade florestal, resultado da acumulação de competências tecnológicas relacionadas ao eucalipto. Isso garante a competitividade brasileira frente aos concorrentes tradicionais. Frente à polpa indonésia, que vem acumulando competências tecnológicas relacionadas à acácia, a polpa brasileira é competitiva hoje. A manutenção da competitividade da polpa brasileira frente à indonésia no futuro dependerá da intensidade de investimentos em inovação feitos por ambos os países.Pulp industry is a mainstay of Brazilian economy. In 2010, Brazilian pulp exports totaled US$ 4.7 billion. Given its importance, this industry has been the focus of several studies on competitiveness. However, the change in the competitive global scenario, marked by the entry of new players, requires an assessment of Brazil\'s competitive position towards emerging competitors. In this context, this work aimed to identify new players, to describe the dynamics of competition in key markets, to propose appropriate tools to assess the performance of hardwood pulp exporting countries, and explain the reasons for leadership among the exporting countries. In order to measure the supplier countries results, a restricted translog subcost function was applied to obtain the elasticity of substitution between hardwood pulp from the main exporters. This analysis was performed for both the U.S. and Chinese markets. Results were evaluated considering technical features of hardwood pulp, especially fiber morphology, and also a historic appraisal of pulp industry establishment in Brazil, Indonesia (emerging supplier, main hardwood pulp supplier to China) and in Canada (traditional pulp supplier, Brazil\'s main competitor in the U.S.). Market barriers to the entry of Indonesian pulp were also assessed based on the personal testimony of employees and executives of paper mills in North America, Europe and Asia. Observations on the competitors industry and technology setup were compared to current models of technological catch up in order to identify behaviors or patterns that contribute to the extension of the theory in this area. The results of this study indicate that the competitiveness of the Brazilian pulp industry is based on forest productivity, which result from the accumulation of technological capabilities related to eucalyptus. This ensures Brazilian competitiveness against traditional competitors. Compared to the Indonesian pulp industry, which has been accumulating technological capabilities related to acacia, the Brazilian pulp is currently competitive. Maintaining the competitiveness of Brazilian pulp against the Indonesian in the future will depend on the intensity of innovation investments made by both countries.
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Pekgun-Cakmak, Pelin. "An Analysis of Pricing and Leadtime Policies within the Marketing/Operations Interface." Diss., Georgia Institute of Technology, 2007. http://hdl.handle.net/1853/19858.
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In this thesis, we analyze the impact of the decentralization of price and leadtime decisions made by the marketing and production departments, respectively, in a make-to-order firm. We first study a monopoly environment, and find that in the decentralized setting, the total demand generated is larger, leadtimes are longer, quoted prices are lower, and the firm profits are lower as compared to the centralized setting. We show that coordination can be achieved using a transfer price contract with bonus payments, where both departments receive a fraction of the total revenues generated as a bonus payment. In the second study, we extend this work to a duopoly environment, where two firms compete on the basis of their price and leadtime quotes in a common market. We find that under intense price competition, firms may suffer from a decentralized structure, particularly under high flexibility induced by high capacity, where revenue based sales incentives motivate sales/marketing for more aggressive price cuts resulting in eroding margins.
We take the parameters of the demand models in the first two studies as constant, while estimating those parameters based on historical data is a very important problem in practice. In the last study of this thesis, we address the challenges encountered in estimating the price sensitivity of customers shifting focus to the passenger travel industry. We explore how to obtain better price elasticity estimates through an empirical study with an emphasis on the endogeneity problem, which arises as a result of the simultaneous determination of supply and demand. We show that if one does not account for endogeneity, price elasticities may induce an upward-sloping demand curve suggesting that high price produces high demand, or may be biased downward to the extent that elastic demand curves are incorrectly classified as inelastic. We show the improvement in price elasticities through an instrumental variable approach.
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Silva, Fernando Simão e. "Otimização da cobrança pelo uso da água para a gestão da demanda hídrica em cenários de longo prazo." Universidade de São Paulo, 2009. http://www.teses.usp.br/teses/disponiveis/18/18138/tde-14042010-150545/.
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A cobrança pelo uso da água é um instrumento de gestão de recursos hídricos previsto na Lei 9433/97, dentre outros objetivos, para incentivar o uso racional da água. Porém, os estudos e simulações feitos tratam a cobrança apenas como instrumento de arrecadação. Este trabalho tem o objetivo de propor preços unitários para a água com base na necessidade de redução da demanda futura na bacia do Tietê-Jacaré. Para isso, apoia-se em cenários de demanda e oferta hídricas para os anos de 2010, 2025 e 2050 elaborados por Macêdo (2005), cujas estimativas de demanda são também melhoradas neste trabalho. Para modelar a relação entre cobrança e demanda, são usados modelos econométricos adaptados de outras bacias, especialmente a do Paraíba do Sul. Tudo isso serve de base para um algoritmo de otimização, usado para propor mudanças na política de cobrança, levando ao atendimento de metas como a redução da escassez dos recursos hídricos no futuro.Water pricing is a water resources management tool according to brazilian law 9433/97 and it serves the purpose of giving incentive to rational use of water, among others. However, studies and simulations treat pricing as a revenue generator mechanism only. This dissertation aims to propose water unit prices based on demand reduction needs in the Tietê-Jacaré basin, Brazil. In order to do it, it uses demand and supply scenarios for 2010, 2025 and 2050 developed by Macêdo (2005), whose estimates are also slightly improved here. Econometric models are used to model the relationship between pricing and demand and they are adapted from other basins, mainly the Paraíba do Sul one. All this serves as base for an optimization algorithm, which is used to propose changes in water pricing policy, leading to the attainment of water stress reduction goals in the future.
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Dias, Tuanne Ferreira. "Elasticidades-preço e renda da demanda domiciliar de eletricidade: estimação econométrica com dados da POF 2008/2009." Universidade Federal de Juiz de Fora, 2015. https://repositorio.ufjf.br/jspui/handle/ufjf/105.
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CAPES - Coordenação de Aperfeiçoamento de Pessoal de Nível Superior
O presente estudo tem como objetivo obter estimativas de elasticidades-preço, renda e relativas a outras variáveis para a demanda domiciliar de eletricidade segundo 20 grupos da população brasileira em 2008/2009. Os grupos são definidos segundo classes socioeconômicas e regiões macroeconômicas. Tal objetivo é motivado pelo fato de haver poucos estudos na literatura para a demanda domiciliar de eletricidade usando microdados de forma tão pouco desagregada. Para tanto, são usados microdados domiciliares da POF de 2008/2009 do IBGE. A POF 2002/2003 também é usada com o objetivo de comparação entre os dados na análise descritiva, mas não de estimação. Sendo a POF uma amostra de dados complexos, para obter resultados coerentes, considera-se o plano amostral nas estimações e também os pesos de expansão, o que leva ao uso de mínimos quadrados ponderados. Os resultados sugerem que as regiões mais sensíveis ao aumento do preço da energia são Centro-Oeste e Sul e as menos sensíveis Norte e Nordeste, ou seja, o consumo para essas últimas regiões pouco se alterariam com o aumento do preço. Já um aumento na renda domiciliar, as regiões Norte, Nordeste e Sudeste aumentariam mais o consumo de energia elétrica do que as regiões Centro-Oeste e Sul.
This study develops estimates of price and income elasticities, and with regard to other variables, for household electricity demand across 20 groups of the Brazilian population in 2008/2009. The groups are set according to socioeconomic classes and macroeconomic regions. The motivation is the fact that there are few studies in the literature for household electricity demand using microdata so as little broken. Thus, we used household microdata from IBGE’s survey of family budgets POF 2008/2009. The POF 2002/2003 are also used for comparison purposes within the descriptive data analysis, but are not used for estimation. As the POF a complex data survey, in order to obtain consistent results the sampling plan is considered in the estimates including the expansion weights, which led to the use of weighted least squares. The results suggest that regions which are most sensitive to rising energy prices are the Midwest and South, while the North and Northeast are less sensitive, ie the consumption for the latter regions would change little with the price increase. Yet an increase in household income, the North, Northeast and Southeast further increase the power consumption than the Midwest and South.
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Siminski, Peter Economics Australian School of Business UNSW. "Essays on the distributional impacts of government." Publisher:University of New South Wales. Economics, 2008. http://handle.unsw.edu.au/1959.4/41238.
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This thesis consists of three independent essays, unified by the common theme of the distributional impacts of government. The first paper estimates the price elasticity of demand for pharmaceuticals amongst high-income older people in Australia. It exploits a natural experiment by which some people gained entitlement to a price reduction through the Commonwealth Seniors Health Card (CSHC). The preferred model is a nonlinear Instrumental Variable (IV) difference-in-difference regression, estimated on repeated cross sectional survey data using the Generalised Method of Moments. No significant evidence is found for endogenous card take-up, and so cross-sectional estimates are also considered. Taking all of the results and possible sources of bias into account, the ??headline?? estimate is -0.1, implying that quantity demanded is not highly responsive to price. The elasticity estimate is a key input into the second paper which analyses the distributional impact of the CSHC. I consider the trade-off between moral hazard and risk pooling. There have been few previous attempts internationally to address this trade-off empirically for any health insurance scheme. The utility gain through risk-pooling is found to be negligible. However, the deadweight loss through moral hazard may be considerable. I also use an illustrative model to demonstrate the possible effects of the CSHC on inter-temporal savings behaviour. While the CSHC may induce some people to save, it may have the opposite effect on others. The net impact was not determined. The third paper estimates the Australian public sector wage premium. It includes a detailed critical review of the methods available to address this issue. The chosen approach is a quasi-differenced panel data model, estimated by nonlinear IV, which has many advantages over other methods and has not been used before for this topic. I find a positive average public sector wage premium for both sexes. The best estimates are 10.0% for men and 7.1% for women. The estimate for men is statistically significant (p < 0.04) and borders on significance for women (p < 0.07). No evidence is found to suggest that the public sector has an equalising effect on the wages of its workers.
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Vránková, Jana. "Vliv využití nových zdrojů zemního plynu na energetickou bezpečnost v USA." Doctoral thesis, Vysoká škola ekonomická v Praze, 2013. http://www.nusl.cz/ntk/nusl-264726.
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The thesis focuses on the influence of new natural gas sources on energy security in the USA. The new sources include mainly shale gas, but also tight gas and others. The main objective of the thesis is to evaluate the impact of changes in production and trade in gas on energy security and self-sufficiency of the USA. The thesis is divided into five chapters. The first chapter is theoretic and thus provides the frameworks for the following parts of the thesis. It focuses on the security concept in literature and in the papers of international energy agencies, e.g. IEA. For the purposes of the thesis, energy security is defined as the ability of a state to secure uninterrupted and stable supply of energy at a reasonable price of sufficiently diversified energy sources, which can be flexibly substituted among each other without additional costs by the end consumers. The second chapter concentrates on energy security in the USA, the development of energy legislation and the position of the United States in international comparison from this point of view. The third chapter deals with the technical background of production and its legislative status of the USA. To compare, it also addresses the production legislation in some EU countries. It follows up market implications of increased domestic production, specifically its profitability, changes in energy mix and in trading position of the USA in energy sources. The fourth chapter analyzes price impacts using change in domestic and foreign demand and supply in natural gas, including their price elasticity, and the price development itself. The fifth chapter summarizes, based on the findings from previous chapters, perspectives of the future development, mainly impacts on economy and potential export. The thesis comes to the main conclusion stating that the production from domestic sources shall have a positive impact on energy security not only in the USA, but also consecutively in other countries dependent on import of energy sources through higher diversification of source countries. Better available commodity may contribute to greater price competitiveness of domestic products on international markets and help to substitute coal with gas in energy mix. The biggest risk is seen in the low gas price that makes the production economically unprofitable. However, the gas price should maintain the level which would allow for profit of the producers, reasonable price for the consumers and increased level of energy security thanks to further development of the production technology, its better price availability and increased demand on cleaner energy sources.
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Fouché, Elizabeth Maria. "The impact of price discrimination on tourism demand / Elizabeth Maria Fouché." Thesis, North-West University, 2005. http://hdl.handle.net/10394/1162.
Full textAbstract:
The primary goal of this study was to determine the impact of price discrimination
on tourism demand. Four objectives were defined with reference to the primary
research goal.
The first objective was to analyse the concept of price discrimination and relevant
theories by means of a literature study. In this regard it was found that price
discrimination between markets is fairly common and that it occurs if the same
goods were sold to different customers at different prices. Price discrimination is
also possible as soon as some monopoly power exists and it is feasible when it is
impossible or at least impractical for the buyers to trade among themselves.
Three different kinds of price discrimination can be applied, namely first-degree,
second-degree and third-degree price discrimination. The data also indicated
that price discrimination is advantageous (it mainly increases profit) and that it
has several other effects too.
The second objective was to analyse examples of price discrimination by means
of international case studies. In these different case studies it was found that
demand and supply, therefore consumer and product, formed the basis of price
discrimination. If demand did not exist, it would be impossible to apply price
discrimination. The findings also indicated that, for an organisation to be able to
practice price discrimination, the markets must be separated effectively and it will
only be successful if there is a significant difference in demand elasticity between
the different consumers. Furthermore, the ability to charge these different prices
will depend on the consumer's ability and willingness to pay. If an organisation
should decide to price discriminate, it would lead to a higher profit, a more
optimal pricing policy and also to an increase in sales.
The third objective was to analyse national case studies. This was done through
comparing the data of a tourism organisation price discriminating (Mosetlha Bush
Camp, situated in the North West) to two organisations that did not implement
price discrimination (Kgalagadi Transfrontier Park in the Northern Cape and
Golden Leopard Resort, also situated in the North West). It was found that a
customer with low price elasticity is less deterred by a higher price than a
customer with a high price elasticity of demand. As long as the customer's price
elasticity is less than one, it will be very advantageous to increase the price: the
seller will in this case get more money for less goods. With the increase in price
the price elasticity tends to rise above one.
The fourth objective was to draw conclusions and make recommendations. It
was concluded that price discrimination could be applied successfully in virtually
any organisation or industry. Furthermore, price discrimination does not always
have a negative effect; but can have a positive ass well. It can have a positive
effect on tourism demand. The findings emphasised that the main reason for
implementing price discrimination is to increase profit at the cost of reducing
consumer surplus. From the results it was recommended that more research on
this topic should be conducted.Thesis (M.Com. (Tourism))--North-West University, Potchefstroom Campus, 2006.
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Jacob, Miguel Stevanato. "An estimation of short - and long - term price elasticity of bus demand in São Paulo and a study of its implications on fare subsidies policy." reponame:Repositório Institucional do FGV, 2018. http://hdl.handle.net/10438/20328.
Full textAbstract:
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São Paulo se expandiu rapidamente durante o Século XX e se tornou uma das maiores cidades do mundo, com aproximadamente 12 milhões de habitantes que realizam cerca de 25 milhões de deslocamentos urbanos diariamente. Seu sistema de transporte público (ônibus e metrô) é responsável por 37% dessas viagens e é notavelmente importante, especialmente para seus usuários intensivos – majoritariamente pessoas pobres cujos deslocamentos dependem dele. Os subsídios ao transporte e o valor da tarifa vêm se colocando no centro de um debate sobre política urbana durante os últimos anos. A Prefeitura de São Paulo gasta quase 7% de seu orçamento em subsídios diretos à tarifa de ônibus que se mantém estagnada em termos reais desde 2005 – empreendendo um valor três vezes maior do que era há dez anos. Ao mesmo tempo, o sistema de ônibus em São Paulo aparenta ser inefetivo em tirar carros das ruas. O ambiente urbano da cidade e a sustentabilidade fiscal desse sistema podem ser colocados em risco se essa situação permanecer, uma vez que um ciclo vicioso de quedas no nível de usuários e aumentos no subsídio podem comprometer o transporte público. O preço e a forma de precificação da tarifa são pontos centrais nessa questão, uma vez que a literatura em finanças púbicas diz que um serviço público pode ser fiscalmente sustentável e ensejar eficiência alocativa à economia se a cobrança por elefor precificada corretamente. O presente trabalho estima a elasticidade preço da demanda por ônibus em São Paulo, uma informação importante para responder se sua tarifa ajuda a: gerar eficiência alocativa na economia; atingir sustentabilidade financeira para o sistema de ônibus e fazer com que as pessoas priorizem o ônibus em detrimento do automóvel privado – e, assim, atingir sustentabilidade urbana. Para tal, modelos de Escolha Discreta são estimados para os anos de 1997 e 2007. Utilizando-se a Pesquisa Origem-Destino do Metrô calculam-se as elasticidades de curto prazo para ambos os anos. Posteriormente, a implementação do Bilhete Único (2004) é considerada um choque exógeno no preço das passagens para aqueles que usam mais de um ônibus para seus deslocamentos, sendo assim uma oportunidade para a estimação da elasticidade de longo-prazo na medida em que é virtualmente um choque exógeno de preço. Os resultados sugerem que a demanda por ônibus é inelástica com respeito ao preço tanto no curto quanto no longo-prazo, o que corrobora literatura prévia. Ainda que mais estudos sejam necessários para avaliar se os subsídios devem ser diminuídos, outras políticas além da forma de precificação devem ser consideradas a fim de se tornar o transporte público mais atrativo.
São Paulo expanded rapidly during the 20th Century and became one of the biggest cities in the World, with almost 12 million inhabitants that make around 25 million urban trips per day. Its transit system (bus and subway) accounts for 37% of those trips and is remarkably important, especially for its heavy users – mainly poor people whose commuting might depend on it. Not by chance, subsidies and fare price have been at the heart of an urban policy debate during the last years. Nowadays, São Paulo’s local government spends almost 7% of its budget in bus subsidies - a threefold increase in real terms in ten years - since costs are soaring and fare remains almost constant in real terms since 2005. Despite high subsidies, the city’s bus system seems to be ineffective in taking cars out of the street and ridership is slightly decreasing. São Paulo’s bus system’s fiscal sustainability might be put at risk if things remain unchanged, in that a vicious cycle of ridership decreasing and fare or subsidies increasing might jeopardize transit and harm urban environment. Fare price and its pricing form are central in this question, since literature on public finance says that one public service’s system can be fiscally sustainable and causes allocative efficiency if fare is priced correctly. The present work calculates price elasticity of bus demand in São Paulo, an important piece of information to answer whether fare helps achieving allocative efficiency for the economy, reaching fiscal sustainability on bus system, and making commuters shift from car to transit – and, hence, keeping the city’s urban sustainability. Discrete Choice Models are estimated for the years of 1997 and 2007 using a household survey on commuting. They directly provide short-term elasticities for both years. Then, Bilhete Único implementation (2004) is considered an exogenous shock on trips’ cost for those who use two buses or more on their commuting, therefore being used as an opportunity for estimating long-term elasticity. The results suggest that bus demand is inelastic with respect to price both in short- and long- term, which corroborates previous literature and provides insight for public policies. This indicates that fare is ineffective in taking cars off the streets, but more studies should be conducted to assess whether subsidies should be reduced, especially for reasons of affordability. Policies other than the pricing form should be conducted to achieve transportation sustainability by modal shifting from cars to transit.