Journal articles on the topic 'Price'
To see the other types of publications on this topic, follow the link: Price.
Create a spot-on reference in APA, MLA, Chicago, Harvard, and other styles
Consult the top 50 journal articles for your research on the topic 'Price.'
Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA, Harvard, Chicago, Vancouver, etc.
You can also download the full text of the academic publication as pdf and read online its abstract whenever available in the metadata.
Browse journal articles on a wide variety of disciplines and organise your bibliography correctly.
1
Huang, Shaojia, Yisen Zhu, Jingde Huang, Enguang Zhang, and Tao Xu. "Analysis of Circular Price Prediction Strategy for Used Electric Vehicles." Sustainability 16, no. 13 (July 5, 2024): 5761. http://dx.doi.org/10.3390/su16135761.
Full textAbstract:
As the car price war has intensified in China from 2023, the continuous decline in prices of new cars for both conventional fuel vehicles and electric vehicles (EVs) has led to a sharp decline in used cars. In particular, the EV market appears more vulnerable as the prime cost of battery raw materials has decreased since January 2023. And thus, a second-hand EV price prediction system is urgent. This study compares several methods for used EVs in China. We find that the random forest method and the gradient boosting regression tree (GBRT) method have good effects on predicting used EV prices in respecting price ranges. Timed EV data capture is applied to guarantee the real-time property of our prediction system. Then, we propose the concept of circular pricing, which means that the obsolete data for the priced car will be repriced according to the latest data. In this way, such a system can guide the used car dealers to adjust the price in time.
2
Barsky, Robert B., Christopher L. House, and Miles S. Kimball. "Sticky-Price Models and Durable Goods." American Economic Review 97, no. 3 (May 1, 2007): 984–98. http://dx.doi.org/10.1257/aer.97.3.984.
Full textAbstract:
The inclusion of a durable goods sector in sticky-price models has strong and unexpected implications. Even if most prices are flexible, a small durable goods sector with sticky prices may be sufficient to make aggregate output react to monetary policy as though most prices were sticky. In contrast, flexibly priced durables with sufficiently long service lives can undo the implications of standard sticky price models. In a limiting case, flexibly priced durables cause monetary policy to have no effect on aggregate output. Our analysis suggests that durable goods prices are the most relevant data for calibrating price rigidity. (JEL E21, E23, E31, E52)
3
Chang, Ming-Hsu, and Wen-Bin Chiou. "Psychophysical Methods in Study of Consumers' Perceived Price Change for Food Products." Psychological Reports 100, no. 2 (April 2007): 643–52. http://dx.doi.org/10.2466/pr0.100.2.643-652.
Full textAbstract:
When adjusting product prices, marketers wish information concerning consumers' price perceptions. The present study aimed to develop an optimal pricing framework for food products by applying Weber's Law and Stevens' Power Law in psychophysics. The first phase attempted to measure the differential thresholds when magnitudes of prices were raised and lowered. The second phase was conducted to establish the psychophysical function representing perceived changes. Analysis showed consumers' differential thresholds were positively correlated with the initial price, consistent with Weber's Law. Further, participants' perceived change differed for increased and decreased prices. Products were perceived as cheaper only when medium-and low-priced products dropped dramatically in price. However, small reductions for the high-priced products were perceived as cheaper. Regardless of price changes, participants perceived products were more expensive when prices dropped by a small amount.
4
Bangalee, Varsha, and Fatima Suleman. "Has the increase in the availability of generic drugs lowered the price of cardiovascular drugs in South Africa?" Health SA Gesondheid 21 (October 11, 2016): 60–66. http://dx.doi.org/10.4102/hsag.v21i0.935.
Full textAbstract:
Background: This research focuses on pharmaceutical competition in South Africa where concurrent pricing legislation is being implemented without monitoring the consequences on generic drug competition and usage.Objective: To examine the relationship between originator drug prices and the number of generic brands within the cardiovascular class of drugs and to compare South African prices with international reference prices.Method: Data on private sector drug prices was sourced from the South African Medicine Price Registry. The relationship between the median proportional price and the number of brands in the therapeutic class was analysed using correlation analysis. International reference prices were obtained from the Management Sciences for Health International Drug Price Indicator Guide (2012 edition).Results: A weak correlation between originator and generic drug prices and the number of available brands was observed, the exception being diuretic drugs. The median prices per strength of the originator generic were still higher than the most expensive generic version manufactured by any other company, the exception being telmisartan. Comparison of price ratios between the originator drug, lowest priced generic and international reference price values revealed that the originator drug prices had a median price ratio of 20.99 (interquartile range 7.31—53.46) and the lowest priced generics had a median price ratio of 4.28 (interquartile range 2.10—8.47).Conclusion: Increased generic competition is not a predictor of lower drug prices. The study also concludes that the current South African pharmaceutical policies have not yet achieved the lowest prices for drugs when compared internationally.
5
Ater, Itai, and Oren Rigbi. "Price Transparency, Media, and Informative Advertising." American Economic Journal: Microeconomics 15, no. 1 (February 1, 2023): 1–29. http://dx.doi.org/10.1257/mic.20200337.
Full textAbstract:
We study the effects of a price transparency regulation in Israeli supermarkets. Using price data collected before and after the regulation and a difference-in-difference research design, we show that price levels and price dispersion declined significantly after the regulation. Chains also began setting identical prices in all stores. We use Robert and Stahl (1993) to interpret our findings, showing that low-priced chains extensively used price advertising after prices became transparent. These chains referenced price-comparison surveys conducted by the media to induce credibility for ads. Our findings highlight the importance of price transparency and the procompetitive role of informative advertising. (JEL D22, D83, L11, L81, L82, L88, M37)
6
Tripathi, Avinash, and Neeraj Pandey. "Does impact of price endings differ for the non-green and green products? Role of product categories and price levels." Journal of Consumer Marketing 35, no. 2 (March 19, 2018): 143–56. http://dx.doi.org/10.1108/jcm-06-2016-1838.
Full textAbstract:
Purpose The discount image associated with odd-ending prices has led to its extensive use by retailers. The purpose of this study is to assess the impacts and applications of nine-ending vs round-ending prices on the purchase of green and non-green products at different price levels and under different purchase motivations. Design/methodology/approach Three experiments are conducted. The first experiment is a 2 (price ending: nine-ending vs round-ending) × 2 (product appeal: green vs non-green) between-subjects study; the second experiment is a 2 (price ending: nine-ending vs round-ending) × 2 (price level: low price vs high price) × 2 (product appeal: green vs non-green) between-subjects study; and the third experiment examined buyers’ preferences of price endings regarding the purchase of green products having either utility (utilitarian) or pleasure (hedonic) motivation. Findings This research highlights that consumers prefer zero-ending prices for green products and pleasure motivation products, but they prefer odd endings for low-priced and utilitarian products. These results support the increased reception of round-ending prices. Accordingly, this study contributes to the literature by providing a boundary condition for odd-ending prices. Specifically, the study finds that the effect of nine-ending prices becomes weaker as the price of the product increases. Practical implications The findings of this study have practical implications for managers, as the results indicate that pricing green products and high-quality perception products using round digits and pricing low-priced and utility perception products using odd digits will increase consumers’ purchase intentions. Moreover, pricing the products using round-ending prices will reduce the perception of low quality and deter brand loyalty emanating from a low-priced/discount image of a product. Originality/value This research contributes to theoretical and practical aspects of behavioural pricing literature. This research uncovers the buyers’ distinct preferences for zero-ending prices and odd-ending prices when purchasing different products based on different motivations and varied price levels. This is the first research of its kind to explore and compare the impact of psychological pricing on green products. The study also resolves a contradiction in past literature regarding the use of nine-ending prices by providing boundary conditions.
7
Abrahamson, Martin. "Offer Price and Post-IPO Ownership Structure." Journal of Risk and Financial Management 17, no. 2 (February 6, 2024): 61. http://dx.doi.org/10.3390/jrfm17020061.
Full textAbstract:
In an initial public offering (IPO) the firm can set the offer price of its shares, based on the valuation of the firm, by changing the number of shares. This study uses stock ownership records and hand-collected IPO data to analyze the offer prices, the underpricing of IPO shares (measured as the initial return, IR) and the relationship with the post-IPO ownership structure. Specifically, the paper focuses on individual IPO investors. The results show that for the lowest priced IPOs the IR is significantly higher priced IPOs. Furthermore, for the low-priced IPOs, there is a negative relationship between offer price and breadth of ownership. This implies that stocks with a low price can attract more investors than stocks with higher offer prices. However, for high-priced IPOs the relationship is positive, suggesting that also the IPOs with highest price attract more investors. Overall, this study shows that the offer price of an IPO firm may have a moderate effect on its post-IPO ownership structure.
8
Bulfone, Liliana. "High prices for generics in Australia — more competition might help." Australian Health Review 33, no. 2 (2009): 200. http://dx.doi.org/10.1071/ah090200.
Full textAbstract:
It is commonly believed that dispensed prices of medicines in Australia are substantially lower than those in other developed countries, particularly the US. This article reports the results of an analysis comparing dispensed prices for the most commonly prescribed and the highest cost items in Australia with dispensed prices in the US. Although a large majority of items are less expensive in Australia than in the US, Australian prices are higher for a substantial number of products, particularly generic drugs. This article examines various policies affecting the pricing of generics in Australia. It is postulated that the main cause for higher prices for a substantial number of generic products is the lack of price competition. This results from government policy which ensures that a price reduction by one company is communicated immediately to all competitors in that market along with an invitation to match the reduced price. The dominant strategy for all suppliers is to only reduce their price in response to a reduction in price by a competitor. The result is a lack of differentiation in pricing across brands of a medicine on the Schedule of Pharmaceutical Benefits. The government could improve the structure of the generics market and encourage greater competition by ceasing to disclose competitor firms? offers to other competitors. The government could conduct pricing reviews of each generic product relatively infrequently (eg, only once annually or every 18 months). At the time of the pricing review, the government would request confidential offers on price for a generic from all players in the market. Brands should then all be listed under the Pharmaceutical Benefits Scheme (PBS) at the offered price. Prices offered by the individual supplier would apply until the next pricing review. The PBS would continue to subsidise up to the price of the lowest priced brand, with brand premiums applying to all brands priced higher than the benchmark price. Such an approach would provide opportunity for players in the market to capture market share by being the lowest priced brand.
9
Ribisl, Kurt M., Shelley Diane Golden, Jidong Huang, and Michelle Scollo. "Addressing lower-priced cigarette products through three-pronged comprehensive regulation on excise taxes, minimum price policies and restrictions on price promotions." Tobacco Control 31, no. 2 (March 2022): 229–34. http://dx.doi.org/10.1136/tobaccocontrol-2021-056553.
Full textAbstract:
The prices that smokers pay out-of-pocket for their tobacco products ultimately influence their smoking behaviour. Although cigarette excise taxes are arguably the best and most used policy to increase cigarette prices, taxes are only one component of retail cigarette prices. The persistence of lower-priced products, disproportionately purchased by lower-income smokers, in jurisdictions with high excise taxes is an Achilles heel for tobacco tax policy. When governments raise excise taxes, the tobacco industry responds. The industry reduces tax pass-through to minimise the price increases for lower-priced brands and offers price discounts to retailers and coupons to consumers. In addition, smokers who do not quit after tax increases may downshift brands, purchase in bulk or substitute lower-priced tobacco product types. This may be particularly true for price-sensitive smokers, including those with lower incomes. We propose that raising excise taxes will be more effective in reducing the persistence of lower-priced products and income-based smoking disparities when taxes are designed to raise prices frequently and substantially for all products and are combined with (a) minimum price laws and (b) bans on coupons, discounts and other promotions. In combination, these three complementary policies restrict the tobacco industry’s ability to undermine the impact of higher excise taxes upon consumer prices. Very few jurisdictions have implemented comprehensive three-pronged tobacco price regulation, but doing so would likely address many of the limitations that come with a sole focus on raising excise taxes.
10
Wang, Qiming. "Evolution of integer price clustering of IPOs in the aftermarket." Nankai Business Review International 5, no. 4 (October 28, 2014): 365–81. http://dx.doi.org/10.1108/nbri-01-2014-0008.
Full textAbstract:
Purpose – The purpose of this paper is to, using a large sample of NASDAQ initial public offerings (IPOs), examine the evolution of integer price clustering of IPOs in the aftermarket trading. Design/methodology/approach – Consistent with Harris’s (1991) costly negotiation hypothesis, clustering on integer prices is a positive function of price level and various stock valuation uncertainty proxies, and it is a negative function of trading activities for IPOs and seasoned stocks. Findings – It was found that, after controlling for price level, daily return volatility, number of trades, trading volume, number of market makers and the effect of price support, the integer price frequency of IPOs converge to that of seasoned stocks immediately, and whether IPOs have integer offer prices does not affect their integer price clustering in the aftermarket trading after the effect of price support is controlled for. Originality/value – These results suggest that the IPO pricing process significantly reduce the differences between integer priced IPOs and non-integer priced IPOs in pre-offering valuation uncertainty.
11
LEE, Seung Hurn, and Jeong Yeal SUH. "Analysis of Factors Determining Apartment Prices in Local Submarkets: Focusing on Corporate location and Brand Apartments." Residential Environment Institute Of Korea 22, no. 2 (June 30, 2024): 47–67. http://dx.doi.org/10.22313/reik.2024.22.2.47.
Full textAbstract:
This study aims to identify the characteristics of apartment price determinants between two local submarkets, and to ascertain the price differential between branded and non-branded apartments and corporate location. Multi-Regression analysis was conducted on the total number of apartments transacted in Geoje City over the past four years, using the actual transaction price of apartments as the dependent variable and structure, complex, brand, and corporate location characteristics as independent variables. The results indicate that in Suyang-dong(high prices), the variables of floor, floor area ratio, and brand have a positive effect, while the variables of rooms and corporate distance have a negative effect. In Okpo-dong(low prices), the number of car parking spaces and brand variables have a positive effect. Branded apartments are priced higher than non-branded apartments. Additionally, the value ratio of branded apartments is higher in the lower-priced area. Price discrepancies may exist within the same area, Consequently, branded apartments that cater to local characteristics can command high prices, even in price sub-areas.
12
Prager, Elena. "Healthcare Demand under Simple Prices: Evidence from Tiered Hospital Networks." American Economic Journal: Applied Economics 12, no. 4 (October 1, 2020): 196–223. http://dx.doi.org/10.1257/app.20180422.
Full textAbstract:
This paper shows that consumers respond to prices for complex healthcare when they can easily assess out-of-pocket prices. Healthcare cost containment efforts increasingly incentivize price shopping despite a dearth of evidence that this steers consumers toward lower-priced care for major medical services. I show that consumers shift toward lower-priced hospitals in the highly simplified price information environment of insurance plans with tiered hospital networks. Consumers observe a single predictable, well-defined price that applies to a broad range of services within each of at most three hospital tiers. Within three years, expected partial-equilibrium savings reach 8–17 percent of baseline spending. (JEL G22, H75, I11, I13)
13
Busaba, Walid Y., Zheng Liu, and Felipe Restrepo. "Do Underwriters Price Up IPOs to Prevent Withdrawal?" Journal of Financial and Quantitative Analysis 55, no. 6 (August 9, 2019): 2005–36. http://dx.doi.org/10.1017/s0022109019000553.
Full textAbstract:
We examine whether underwriters price up weakly demanded initial public offerings (IPOs) to prevent withdrawal. Our empirical strategy exploits a discontinuity in the distribution of IPO prices around the low boundary of the filing range. Offerings with a high ex ante withdrawal probability that are priced at this boundary are likely priced up to meet issuers’ reservation prices. We compare the aftermarket returns of these IPOs to the returns of other weakly demanded offerings where issuers’ reservation prices were likely not binding, and we identify a negative 8.4-percentage-point differential attributable to the aggressive pricing inherent in setting the price at the low boundary when withdrawal risk is high.
14
Tesalonika, Ilona, and MG Westri Kekalih Susilowati. "Antecedents and Consequences of Brand Pride: An Investigation of The Causes of Brand Pride and Its Consequences for Willingness to Pay A Premium Price." Jurnal Penelitian Ekonomi dan Bisnis 8, no. 2 (September 30, 2023): 88–98. http://dx.doi.org/10.33633/jpeb.v8i2.8892.
Full textAbstract:
In addition to protecting the product, the brand is also a guarantee of quality. Therefore, consumers often pay a premium price for branded goods. In some cases, branded goods also often become status symbols that reflect the prestige that gives brand pride so that consumers will align their brand choice with their self-concept (self-brand congruity). This study investigates the effect of self-brand congruity on willingness to pay a premium price through its impact on brand pride. The study was conducted on Smartphone users with the iPhone brand, a smartphone with a premium price. The study involved 120 respondents with various occupations. The test was carried out using Structural Equation Modeling, which was processed with Smart PLS4.0. The results show that self-brand congruity positively significantly Individual Brand Pride, Collective Brand Pride, and willingness to pay a premium price. Meanwhile, Individual Brand Pride is positively willing to pay premium prices, while collective brand pride does not. Individual Brand Pride is proven as a partial variable mediating the effect of self-brand congruity on willingness to pay a premium price.
15
Ren, Pengyu, Zhaoji Li, Weiguang Cai, Lina Ran, and Lei Gan. "Heterogeneity Analysis of Urban Rail Transit on Housing with Different Price Levels: A Case Study of Chengdu, China." Land 10, no. 12 (December 3, 2021): 1330. http://dx.doi.org/10.3390/land10121330.
Full textAbstract:
The impact of urban rail transit on housing prices has attracted the extensive attention of scholars, but few studies have explored the heterogeneous impact of rail transit on housing prices with different price levels. To solve this problem, we adopted the hedonic price model based on ordinary least squares regression as a supplementary method of quantile regression to study the heterogeneous impact of the Chengdu Metro system on low-, middle-, and high-priced housing. The result shows that the housing price rises first, then falls with the distance from the housing to the nearest subway station. Besides, the influence of transportation accessibility on low-, middle-, and high-priced housing decreases progressively. This research can provide a reference for the government’s transportation planning and decision-making.
16
Lintunen, Jussi, and Lauri Vilmi. "Optimal Emission Prices Over the Business Cycles." Environmental and Resource Economics 80, no. 1 (August 2, 2021): 135–67. http://dx.doi.org/10.1007/s10640-021-00581-x.
Full textAbstract:
AbstractWe prove that under the most typical circumstances optimal emission prices are procyclical, i.e., prices should be lower during recessions. The procyclicality is more likely when emissions propagate very slowly into environmental damage. A prime example of such process is $$\hbox {CO}_2$$ CO 2 emissions. We show that carbon prices should be closely linked to the fluctuations of the marginal utility of consumption, which implies relatively modest magnitude of carbon price fluctuations. Our findings imply that climate policies should focus on setting the carbon price to the optimal growth path level and give carbon price fluctuations only a secondary role. Opposite to the carbon price, the cyclicality of optimal emissions depends on the production technology in the energy sector, and may become countercyclical in future if the technology mix becomes less fossil dependent.
17
Curry, David J., and Peter C. Riesz. "Prices and Price/Quality Relationships: A Longitudinal Analysis." Journal of Marketing 52, no. 1 (January 1988): 36–51. http://dx.doi.org/10.1177/002224298805200104.
Full textAbstract:
Though price and quality are recognized as important tactical and strategic variables for a marketing manager, few empirical data are available on the behavior of price or the correspondence between price and quality over time. The authors report results for three hypotheses derived from product life cycle theory, dynamic pricing policy, and economic information theory about price trends, price convergence, and the correspondence between price and quality among brands in 62 durable product forms. Results strongly confirm the hypotheses that prices converge as well as decrease in real terms. The decline in price variation apparently results from a narrowing of prices by all relevant competitors. Brands entering or exiting a category counterbalance one another and are nearly as likely to be priced below as above a category mean. Reduced correspondence between price and quality levels over time suggests that as pricing flexibility declines, competition may occur in the form of promotional expenditures rather than relative quality improvements. Implications of these findings for marketing strategy and consumer welfare are discussed.
18
Schmit, Todd M., Leslie Verteramo, and William G. Tomek. "Implications of Growing Biofuel Demands on Northeast Livestock Feed Costs." Agricultural and Resource Economics Review 38, no. 2 (October 2009): 200–212. http://dx.doi.org/10.1017/s1068280500003208.
Full textAbstract:
The relationship between complete-feed prices and ingredient prices is estimated in order to analyze the effect of higher commodity prices on feed costs, with particular attention paid to the substitutability of corn distillers dried grains with solubles (DDGS). Using the historical price correlation between corn and DDGS, each $1 per ton increase in the price of corn increases feed costs between $0.45 and $0.59 per ton across livestock sectors. Marginal feed costs based on lower forecasted price correlations are reduced between $0.05 to $0.12 per ton across livestock sectors, but only for the dairy ration is the reduction statistically significant. Overall, DDGS cost savings are relatively limited and insufficient to offset the impact of other higher-priced feedstocks.
19
Cariappa, A. G. Adeeth, Babita Kathayat, S. Karthiga, and R. Sendhil. "Price analysis and forecasting for decision making: Insights from wheat markets in India." Indian Journal of Agricultural Sciences 90, no. 5 (September 4, 2020): 979–84. http://dx.doi.org/10.56093/ijas.v90i5.104376.
Full textAbstract:
Wheat occupies a prime position in supplementing the food security needs of India. Price forecast related to a food commodity is essential in executing policies which ensure market support. Keeping this in view, an attempt was made to forecast monthly wholesale wheat prices adopting ARIMA model in spatially separated markets of India using the historical data sourced from AGMARK price portal (July 2002-June 2018). Wheat prices exhibited a clearcut seasonality captured through monthly price indices. The prices were found to be highest during the crop season (November-March) as it is the production phase lacking market supply and lowest during post-harvest season (June- October) wherein supply surge is witnessed. The average seasonal price variation and intra-year price rise were found to be highest in Haryana, followed by Punjab. Forecasted prices estimated by fitting the ARIMA model were found to be higher for low or negligible wheat producing states such as Kerala and Karnataka, and lower for higher wheat producing states like Haryana, Punjab, Madhya Pradesh and Uttar Pradesh. Forecast performance the fitted models were further supported by using measures like RMSE, MAPE and MAE with 95% confidence interval. The study emphasized the need for effective dissemination of market information such as price forecast to farmers, agri-based industries and other concerned stakeholders which will help in decision making apart from tracking price volatility.
20
Razzakova, C. M., and L. E. Ziganshina. "Medicine prices in 2017 and 2018 as a reflection of the effectiveness of government measures to ensure access to medicines." Kazan medical journal 101, no. 2 (April 13, 2020): 256–63. http://dx.doi.org/10.17816/kmj2020-256.
Full textAbstract:
Aim. To conduct a comparative analysis of medicine prices in 2017 and 2018 years in Kazan (The Republic of Tatarstan, The Russian Federation) to assess the effectiveness of government measures to ensure the accessibility of medicines.
Methods. We conducted a comparative analysis of medicine prices according to methodology developed by Health Action International and World Health Organization (WHO/HAI). The analysis included 30 medicines at a preselected dosage form. We studied the accessibility and prices of original brands and lowest priced generic of each medicine in the public and private pharmacies of Kazan in 2017 and 2018, and analyzed the procurement prices of the same medicines in inpatient hospitals. Medicine prices were compared with international reference prices (The Management Sciences for Health (MSH) reference prices) and expressed as median price ratio (MPR).
Results. Prices for originator and generic medicines in the public and private sectors tended to decrease in 2018 compared to 2017, but statistically significant price reduction occurred only for generic medicines in the private sector. For example, the median price ratio for originator products changed from 6.86 to 2.97 in the public sector and from 11.1 to 5.36 in the private sector in 2018 compared to 2017, but the changes were not statistically significant (p 0.05). Prices for generics medicines in the public sector did not change in the studied years and remained at the level of international reference prices (the median price ratio were 1.3 in 2017 and 1.27 in 2018). In the private sector, we found a twofold decrease in the prices of generics medicines in 2018 compared to 2017 [the median price ratio decreased from 3.25 to 1.44 (p 0.05)]. Procurement prices for generics medicines in public hospitals in 2017 and 2018 years did not show statistically significant changes with the median price ratio equal to 1.34 and 0.8, respectively.
Conclusion. Government price control measures of medicines contributed to maintaining the price of generic medicines at the reference prices level in the public sector and to halving the price of generic medicines in the private sector in 2018 compared to 2017.
21
Zhou, Xiaobo. "Analysis of Consumer Decision-making from the Perspective of Anchoring Effect." Advances in Economics, Management and Political Sciences 29, no. 1 (November 10, 2023): 114–19. http://dx.doi.org/10.54254/2754-1169/29/20231361.
Full textAbstract:
The anchoring effect is a kind of heuristic deviation. When people make judgments about someone or something, they are easily dominated by the first impression or the first information, which is like an anchor sinking into the sea to fix people's thoughts somewhere. This paper analyses the fluctuation of inflation rate, the reduction of interest rate, and the change of COVID-19 policy in China in recent years. Consumers' price preferences are anchored by past prices, which prevents them from accurately predicting future price changes. If consumers believe that prices will remain the same in the future, they will use the current price as a benchmark for future prices, and they will base their consumption decisions on this price. However, if the price changes in the future, consumers will be priced wrong, so they will make wrong consumption decisions. Because of the anchoring effect, people have impulsive consumption, retaliatory consumption, and conservative consumption. In order to reduce the negative impact of the anchoring effect on the economy, this paper suggests that people should be fully aware of the market price, make reasonable expectations of inflation, avoid impulse consumption and retaliatory consumption.
22
Pope, Rulon D., and Robert G. Chambers. "Price Aggregation When Price-Taking Firms' Prices Vary." Review of Economic Studies 56, no. 2 (April 1989): 297. http://dx.doi.org/10.2307/2297463.
Full text
23
Melching, Konstantin, and Tristan Nguyen. "On the Impact of Dividend Payments on Stock Prices - an Empirical Analysis of the German Stock Market." Studies in Business and Economics 16, no. 1 (April 1, 2021): 255–69. http://dx.doi.org/10.2478/sbe-2021-0020.
Full textAbstract:
Abstract This paper examines the relation between dividend payments and stock prices of all firms in the German prime standard DAX 30 in the time period from 2012 to 2019. The irrelevance theory introduced by Miller and Modigliani states that dividend payments must not have an impact on stock prices in a perfect market. In contrast, the signaling theory and the dividend puzzle indicate that dividend payments are likely to have a profound impact on the stock price. According to our findings the ex-dividend decrease of stock prices was significantly smaller than the dividend payment. Nevertheless, the results support the impact of the dividend payment on the share price. Firstly, the existence of the ex-dividend markdown is a proof that dividend payments cause share price losses. Secondly, the study explains in particular that high dividend payments result in high share prices over the examined period. Thirdly, our analysis demonstrates a positive correlation between the dividend and the stock price development according to the signaling theory. Considering the above- mentioned results, we can conclude that the share price of a company is highly affected by the decision making of the company regarding the dividend policy.
24
Schnuelle, Christian, Timo Wassermann, and Torben Stuehrmann. "Mind the Gap—A Socio-Economic Analysis on Price Developments of Green Hydrogen, Synthetic Fuels, and Conventional Energy Carriers in Germany." Energies 15, no. 10 (May 12, 2022): 3541. http://dx.doi.org/10.3390/en15103541.
Full textAbstract:
In recent years, the development of energy prices in Germany has been frequently accompanied by criticism and warnings of socio-economic disruptions. Especially with respect to the electricity sector, the debate on increasing energy bills was strongly correlated with the energy system transition. However, whereas fossil fuels have rapidly increased in price recently, renewable substitutes such as green hydrogen and synthetic fuels also enter the markets at comparatively high prices. On the other hand, the present fossil fuel supply is still considered too low-priced by experts because societal greenhouse gas-induced environmental impact costs are not yet compensated. In this study, we investigate the development of the price gap between conventional energy carriers and their renewable substitutes until 2050 as well as a suitable benchmark price, incorporating the societal costs of specific energy carriers. The calculated benchmark prices for natural gas (6.3 ct kWh−1), petrol (9.9 ct kWh−1), and grey hydrogen from steam methane reformation (12 ct kWh−1) are nearly 300% above the actual prices for industry customers in 2020, but below the price peaks of early 2022. In addition, the price gap between conventional fuels and green hydrogen will be completely closed before 2050 for all investigated energy carriers. Furthermore, prognosed future price developments can be considered rather moderate compared to historic and especially to the recent price dynamics in real terms. A gradual implementation of green hydrogen and synthetic fuels next to increasing CO2 prices, however, may temporarily lead to further increasing expenses for energy, but can achieve lower price levels comparable to those of 2020 in the long term.
25
Mia, Md Tuhin, Rejon Kumar Ray, Bishnu Padh Ghosh, Md Salim Chowdhury, Md Al-Imran, Malay Sarkar, Radha Das, Nilufer Sultana, and Saad Abrar Nahian. "Dominance of External Features in Stock Price Prediction in a Predictable Macroeconomic Environment." Journal of Business and Management Studies 5, no. 6 (December 22, 2023): 128–33. http://dx.doi.org/10.32996/jbms.2023.5.6.10.
Full textAbstract:
Understanding the factors affecting future stock prices has been of prime importance across the globe, as accurate stock price prediction is directly related to financial gains. Its interest has been reflected by a large and growing literature trying to investigate stock price prediction with an effort to gain higher prediction accuracy. Recent literature has identified relevant external features, such as current and anticipated future macroeconomic environment-related information, and has incorporated such external features along with historical data on stock prices into the prediction models to gain improved accuracy. However, the current literature fails to quantify the relative importance of those external features for a better understanding of their relevancy. In this article, we bridge this gap and quantify the relative importance of those external features in stock price prediction by combining macroeconomic data with historical stock price data and by utilizing dominance analysis. Our results demonstrate that external features are highly dominant in the prediction of future stock prices.
26
Azwina, Rafika, and Muhammad Syahbudi. "Pengaruh Fluktuasi Harga Komoditas Pangan Terhadap Inflasi di Provinsi Sumatera Utara tahun (2019-2021)." El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam 4, no. 1 (August 15, 2022): 238–49. http://dx.doi.org/10.47467/elmal.v4i1.1373.
Full textAbstract:
Inflation has a major impact on the local economy. Inflation cann have a positivee or negativee impact, depending on whether inflation is high or not. The purpose of this study was to analyzee the effect of fluctuations in the price of rice, curly red chilies and broilers on inflation in North Sumatra. This type of research uses quantitative methods. Thee type of data used is secondary data. Data analysis method using VAR. VAR analysis was performed using Evaluation 10 software. The results showed that there were seven variables that had a significant effect on inflation at the 5% level in the short term: inflation one month ago, inflation two months ago, inflation three months ago, and prices. Thee price of rice one month ago, the price of ricee two months ago, thee price of red chili three months ago. In the long run, there are variables that affect inflation. Namely, thee price of rice, the pricee of redd chili, the price of fresh chicken eggs.
KEYWORDS: Inflation, Food prices, VECM
27
Wang, Wen-Ching, Yu-Ju Chang, and Hsueh-Ching Wang. "An Application of the Spatial Autocorrelation Method on the Change of Real Estate Prices in Taitung City." ISPRS International Journal of Geo-Information 8, no. 6 (May 29, 2019): 249. http://dx.doi.org/10.3390/ijgi8060249.
Full textAbstract:
The main purpose of this paper is to use regression models to explore the factors affecting housing prices as well as apply spatial aggregation to explore the changes of urban space prices. This study collected data in Taitung City from the year 2013 to 2017, including 3533 real estate transaction price records. The hedonic price method, spatial lag model and spatial error model were used to conduct global spatial self-correlation tests to explore the performance of house price variables and space price aggregation. We compare the three models by R² and Akaike Information Criterion (AIC) to determine the spatial self-correlation ability performance, and explore the spatial distribution of prices and the changes of price regions from the regional local indicators of spatial association spatial distribution map. Actual analysis results show an improvement in the ability to interpret real estate prices through the feature price mode from the R² value assessment, the spatial delay model and the spatial error model. Performance from the AIC values show that the difference of the spatial delay model is smaller than that of the feature price model and the spatial model, demonstrating a better performance from the space delay model and the spatial error model compared to the feature price model; improving upon the estimation bias caused by spatial self-correlation. For variables affecting house pricing, research results show that Moran’s I is more than 0 in real estate price analysis over the years, all of which show spatial positive correlation. From the LISA analysis of the spatial aggregation phenomenon, we see real estate prices rise in spaces surrounded by high-priced real estate contrast with the scope of space surrounded by low-cost real estate shifting in boundary over the years due to changes in the location and attributes of real estate trading transactions. Through the analysis of space price aggregation characteristics, we are able to observe the trajectory of urban development.
28
Pokrivčák, J., and M. Rajčaniová. "Crude oil price variability and its impact on ethanol prices." Agricultural Economics (Zemědělská ekonomika) 57, No. 8 (August 23, 2011): 394–403. http://dx.doi.org/10.17221/42/2010-agricecon.
Full textAbstract:
The world annual biofuel production has exceeded 100 billion litres in 2009. The development of the biofuel production is partly influenced by the government support programs and partly by the development of oil prices. The main purpose of this paper is to analyze the statistical relationship between ethanol, gasoline and crude oil prices. We aim to check the correlation among these variables and to analyze the strength and direction of a possible linear relationship among the variables. We are interested in analyzing how each variable is related to another, so we evaluate the inter-relationship among the variables in the Vector Autoregression (VAR) and the Impulse Response Function (IRF). In order to achieve our goal, we first collected weekly data for each variable from January, 2000 to October, 2009. The results provide evidence of the cointegration relationship between oil and gasoline prices, but no cointegration between ethanol, gasoline and ethanol, oil prices. As a result, we used a VAR model on first differences. After running the Impulse Response Function, we found out that the impact of the oil price shock on the other variables is considerable larger than vice versa. The largest impact of oil price shock was observed on the price of gasoline.
29
Caskey, Judson, John S. Hughes, and Jun Liu. "Strategic Informed Trades, Diversification, and Expected Returns." Accounting Review 90, no. 5 (January 1, 2015): 1811–37. http://dx.doi.org/10.2308/accr-51026.
Full textAbstract:
ABSTRACT We examine how strategic trade affects expected returns in a large economy. In our model, both a monopolist (strategic) informed trader and uninformed traders consider the impact of their demands on prices. In contrast to settings with price-taking traders, private information never eliminates a priced risk, and can lead to higher risk premiums. Also unlike settings with price-taking informed traders, risk premiums decrease in response to an increase in liquidity-motivated trades in diversified portfolios. These differing effects arise because a privately informed strategic trader conceals her trades by taking small positions relative to the magnitude of noise trades. Although prices partially reveal her information and reduce uncertainty, a concomitant decrease in her risk absorption dominates and leads to higher risk premiums. Similar to settings with price-taking traders, private information affects expected returns only via factor loadings and risk premiums on existing payoff risks—it introduces no new priced risks, and factor loadings (betas) explain all cross-sectional differences in expected returns.
30
McGraw, A. Peter, Derick F. Davis, Sydney E. Scott, and Philip E. Tetlock. "The price of not putting a price on love." Judgment and Decision Making 11, no. 1 (January 2016): 40–47. http://dx.doi.org/10.1017/s1930297500007579.
Full textAbstract:
AbstractWe examine financial challenges of purchasing items that are readily-available yet symbolic of loving relationships. Using weddings and funerals as case studies, we find that people indirectly pay to avoid taboo monetary trade-offs. When purchasing items symbolic of love, respondents chose higher price, higher quality items over equally appealing lower price, lower quality items (Study 1), searched less for lower priced items (Study 2) and were less willing to negotiate prices (Study 3). The effect was present for experienced consumers (Study 1), affectively positive and negative events (Study 2), and more routine purchase events (Study 3). Trade-off avoidance, however, was limited to monetary trade-offs associated with loved ones. When either money or love was omitted from the decision context, people were more likely to engage in trade-off reasoning. By abandoning cost-benefit reasoning in order to avoid painful monetary trade-offs, people spend more money than if they engaged in trade-off based behaviors, such as seeking lower cost options or requesting lower prices.
31
Deng, G. F. "Dynamic price competition market for retailers in the context of consumer learning behavior and supplier competition: Machine learning-enhanced agent-based modeling and simulation." Advances in Production Engineering & Management 18, no. 4 (December 28, 2023): 434–46. http://dx.doi.org/10.14743/apem2023.4.483.
Full textAbstract:
This study analyzes the impact of consumer learning behavior and supplier price competition on retailer price competition in a complex adaptive system. Using machine Learning-enhanced agent-based modeling and simulation, the study applies fuzzy logic and genetic algorithms to model price decisions, and reinforcement learning and swarm intelligence to model consumer behavior. Simulations reveal that different learning behaviors result in different retailer competition patterns, and that supplier price competition affects the strength of retailer price competition. Simulation results demonstrate that consumer learning behavior influences retailer competition, with self-learning consumers leading to higher-priced partnerships, and collective-learning consumers leading to a shift in price competition among retailers. In contrast, perfect rationality consumers result in low-price competition and the lowest average margin and profit. Additionally, the competitive price behavior of suppliers impacts retailers' price competition patterns, with supplier price competition reducing retailer price competition in the perfect rationality consumer market and enhancing it in the self-learning and collective-learning consumer markets, leading to lower average prices and profits for retailers. This study presents a simulated market for price competition among suppliers, retailers, and consumers that can be expanded by subsequent scholars to test related hypotheses.
32
Leung, Charles Ka Yui, Patrick Wai Yin Cheung, and Erica Jiajia Ding. "International Real Estate Review." International Real Estate Review 11, no. 2 (December 31, 2008): 47–74. http://dx.doi.org/10.53383/100097.
Full textAbstract:
Previous studies of the office market have tended to focus on either the rental market or the aggregate sales market. This paper focuses on the intra-metropolitan sales market and on office price and trading volume dynamics in Hong Kong. According to our findings, buildings trading at higher prices are not necessarily traded more often than those trading at lower prices. In addition, the price of offices in different categories does not necessarily move in tandem. The trading volumes of higher priced buildings tend to Granger cause the lower priced buildings, and this conclusion is robust to alternative classifications. The paper contrasts several existing theories. Suggestions for future research are also discussed.
33
Wang, Cheng, Hailei Zou, and Juncheng Yin. "Fourier Transform of Lookback Option Price." ISRN Applied Mathematics 2011 (November 30, 2011): 1–7. http://dx.doi.org/10.5402/2011/518172.
Full textAbstract:
The Fourier transform of the damped price of Lookback option under B-S model is presented. Thus, the Lookback option across a range of strikes can be simultaneously priced via FFT algorithm. FFT algorithm is more efficient than both Monte Carlo simulation method and the integral of the usual pricing formula. In addition, by FFT algorithm, investors can easily capture the sensitivity of option prices when the strike prices vary as to make reasonable investment decisions.
34
Du, Wenbin, You Wu, Yunliang Zhang, and Ya Gao. "The Impact Effect of Coal Price Fluctuations on China’s Agricultural Product Price." Sustainability 14, no. 15 (July 22, 2022): 8971. http://dx.doi.org/10.3390/su14158971.
Full textAbstract:
Few studies have used China’s latest economic data to verify the interaction between coal price fluctuation and vegetable price fluctuation. Therefore, the sharing of existing knowledge in the academic community is mainly reflected in this paper, which explores the influence between coal prices and agricultural product prices for the first time. Further, it supplements the verification of the effective parameters of vegetable price fluctuation in academia. The current study investigates the relationship between coal prices (thermal coal price) and agricultural product prices (vegetable prices) in China from 2016 to 2021. It uses separate time-series models to verify the effect of China’s coal price fluctuation on the price of agricultural products and explores the effect of the coal price on the vegetables’ price trend. The results confirm that the thermal coal price significantly impacts and positively affects vegetable prices. There is also a linkage between the price of coal and the security of agricultural products. It might mainly be due to coal usage in various stages of the growing, storage, transportation, and distribution of agricultural products. Higher coal prices may lead to higher agricultural prices, threatening China’s coal-dominant energy structure. These higher coal prices will endanger domestic energy security and agricultural security. Finally, this study also suggests ways to manage the effect of increased coal prices on agricultural product prices and then puts forward policy suggestions.
35
Dudás, Gábor, Tamás Kovalcsik, György Vida, Lajos Boros, and Gyula Nagy. "Price determinants of Airbnb listing prices in Lake Balaton Touristic Region, Hungary." European Journal of Tourism Research 24 (May 7, 2020): 2410. http://dx.doi.org/10.54055/ejtr.v24i.412.
Full textAbstract:
The aim of the paper was to investigate the impact of different accommodation attributes on Airbnb listing prices in a touristic area. The study applied hedonic price modeling utilizing a sample of 2417 Airbnb accommodation rental offers in the Lake Balaton Touristic Region in Hungary. Our results revealed that property-related attributes significantly influence Airbnb prices although the magnitude of these effects is very diverse and complex. The OLS findings showed that the provision of air conditioning, free internet, and free parking are the main determinants of Airbnb price in the sample area, while the number of available photos and the presence of a kitchen does not significantly influence the price. The quantile regression results further demonstrated that capacity, the provision of breakfast, and TV leads to higher prices among the higher-priced accommodations, while the number of bedrooms and bathrooms, smoking, and free parking influence more the prices of lower-end accommodations.
36
Mushi, Vianey John. "Housing Finance and Markets Dynamics in Tanzania: An Analysis of Cross-sector Linkages." JOURNAL OF AFRICAN REAL ESTATE RESEARCH 5, no. 1 (June 1, 2020): 16–31. http://dx.doi.org/10.15641/jarer.v5i1.800.
Full textAbstract:
This study examines whether feedback from housing price shocks factored into the availability of mortgage credit in Tanzania between 2008 and 2018. This was done by estimating a Vector Error Correction Model (VECM) with mortgage financing and using three measures of house pricing trends in the luxury, mid-end and economy sub-markets as dependent variables. Results showed that mortgage credit expansion is related to housing price growth in the long-run, but the impact mostly ran from housing price shocks to mortgage growth. In the short-term, changes in price for luxury houses led to a mortgage growth in the first quarter after the shocks, which in turn stimulated changes in housing prices. However, variations on mortgage credit flows had a more significant short-term impact on prices of housing units than it did for houses priced on mortgage credit. The dynamic response between mortgage credit flow and housing prices disappeared when housing price indicators for the economy and mid-end sub-markets were used in the analysis. In addition, both mortgage credit and housing markets were highly persistent, but the effect of previous shocks lasted longer in the mortgage lending process. The paper concludes that the substantial increase in housing prices might be a major concern for policymakers, in particular, because it foreshadows a mortgage crisis.
37
Holland, Dawn, Ray Barrell, Aurélie Delannoy, Tatiana Fic, Ian Hurst, Ali Orazgani, and Paweł Paluchowski. "World Overview and European Sovereign Debt." National Institute Economic Review 215 (January 2011): F10—F15. http://dx.doi.org/10.1177/0027950111401130.
Full textAbstract:
Short-tem inflationary pressures have risen on a global scale in recent months and, given the source of the impulse is commodity markets, this dampens the prospects for growth in 2011 in most countries. Global food prices have been under pressure since July 2010, reflecting poor harvests in many parts of the world. Metals prices have also risen rapidly, while non-food agricultural price inflation accelerated towards the end of the year. We expect average food and other agricultural prices in 2011 to be more than 25 per cent higher than they were in 2010, while metals prices are expected to be more than 30 per cent above last year's average level, as shown in figure 1. The price of oil exhibited moderate inflation through September 2010, but rose sharply in the final quarter of the year. The rise in the price of oil may be a reflection of demand pressures from countries such as China and India, as well as the recovery in demand from advanced economies, while the weakness of the US dollar and an expected tightening of regulation following recent oil spills may also be adding to price pressures. The price of Brent crude currently stands at over $98 per barrel, roughly $19 per barrel higher than was priced into futures markets three months ago. Barrell, Delannoy and Holland discuss the macroeconomic implications of the recent rise in the oil price elsewhere in this Review. If sustained we expect this to reduce growth in the OECD by about ½ per cent this year. The impact on oil-intensive emerging economies such as China and India may be slightly greater, while oil exporters gain from the high price.
38
Cui, Nana, Hengyu Gu, Tiyan Shen, and Changchun Feng. "The Impact of Micro-Level Influencing Factors on Home Value: A Housing Price-Rent Comparison." Sustainability 10, no. 12 (November 22, 2018): 4343. http://dx.doi.org/10.3390/su10124343.
Full textAbstract:
The housing sales market in China has flourished and gained considerable interest, while the housing rental market has lagged behind and been ignored over the past two decades. With the acceleration of urbanization, the housing rental demand is rising rapidly. Exploring and comparing the influencing factors on housing sale prices and rental prices has significance for sustainable urban planning and management. Using house purchase transaction and rent transaction data in 2017, as well as the average housing price and rent data in 2016 in Beijing, China, this paper compares the spatial distribution and it employs the hedonic price model and quantile regression model to quantify the average and distributional effects of micro-level influencing factors on housing prices and housing rents. Results show that housing prices and housing rents both have a decentralized distribution with multiple centers, but rents of residential communities with high housing prices may not necessarily be high. Both homeowners and renters prefer properties with good structural, locational, and neighborhood characteristics, as well as a good school attendance zone, whereas they still differ in terms of preferences. Homeowners prefer a higher-quality living environment. Renters are more concerned with proximity to an employment center and public transit convenience. Moreover, the price premium of school quality for homeowners exceeds the premium for renters. Higher-priced homeowners or renters differ in the preferences from lower-priced homeowners or renters. Higher-priced homeowners and higher-priced renters are more willing to live in property with a larger number of bedrooms, proximity to a major employment center, park, or school, as well as a location in a school attendance zone with higher school quality.
39
Putro, Wirawan Seto. "ANALISIS PENGARUH PERSEPSI HARGA TERHADAP PERILAKU PEMBELIAN PRODUK KEBUTUHAN SEHARI-HARI (STUDI PADA INDO GROSIR JALAN MAGELANG)." Journal Competency of Business 3, no. 2 (December 2, 2019): 80–96. http://dx.doi.org/10.47200/jcob.v3i2.671.
Full textAbstract:
This empirical research is intended to determine the relationship between consumer perceptions of the role of negative prices (Value Consciousness, Price Consciousness, Coupon Proneness, Sale Proneness, and Price Mavenism) with the role of positive prices (Price Quality Schema and Prestige Sensitivity). In this study the data were obtained through distributing questionnaires to 250 respondents, namely consumers who were making a purchase or those who had made a purchase at Indogrosir Jalan Magelang Yogyakarta. Based on the results of data analysis with SEM analysis with the AMOS program showed that there was an influence of negative variables. role price on positive role price, there is a negative role price influence on Value Consciousness in the role of negative prices, there is a negative role price influence on Price Mavenism on the role of negative prices, there is a negative influence role price on Price Consciousness on the role of negative prices, there is a negative role effect price on Sale Proneness on the role of negative prices, there is a negative influence on the role price on Coupon Proneness on the role of negative prices, there is a positive influence on the role price on Price quality schema on the role of negative prices and there is a positive influence on the role price against Prestige sensitivity.
40
Kim, Chin-Woo. "Price Personalization." LAW RESEARCH INSTITUTE CHUNGBUK NATIONAL UNIVERSITY 13, no. 2 (December 31, 2022): 43–81. http://dx.doi.org/10.34267/cbstl.2022.13.2.43.
Full textAbstract:
Product prices are now one of the many areas of our daily life in which artificial intelligence is becoming increasingly important. Digitization, especially online trading, opens up completely new possibilities and gives price adjustments a big boost in various ways. Thanks to their computing speed, algorithms can not only change and vary prices very quickly. Their enormous capacities for collecting and processing information even make it possible to include consumer data in the price calculation and thus adjust prices individually. Although we have become accustomed to uniform prices, the price has never been a purely static construct. Fluctuating prices are not a new phenomenon. Pricing freedom prevails within the framework of private autonomy. The aim of this paper is to examine how Korean law can respond to the new challenges posed by algorithmic price diversity. The law currently seems to offer little help against the currently existing lack of transparency in relation to the pricing process, which can go hand in hand with automated price individualization. So far, there are no legal regulations for disclosing how prices are determined. A central concern when dealing with individualized prices concerns the existence of information asymmetries and the (in)transparency of pricing strategies.
41
Ekananda, Mahjus. "Asymmetric Price Transmission of Some Basic Commodities in Indonesia." Media Ekonomi dan Manajemen 38, no. 2 (July 28, 2023): 343. http://dx.doi.org/10.56444/mem.v38i2.3924.
Full textAbstract:
The prices of these international goods, world oil prices, exchange rates, and government policies, always influence developments in the current global era that drive domestic commodity prices. This study aims to analyze the effect of asymmetric price transmission on several Indonesian domestic commodities. Asymmetric price transmission occurs if the speed of price adjustment above or below the price trend is not the same. Positive or negative price changes occur if the price is above or below the price trend. Under dynamic conditions, each price will adjust to the long-term price level. This study applies the error correction model (ECM) method to capture the speed of adjustment of each commodity following the long-term price level. This study involves asymmetric price transmission to see price adjustments. Econometric testing through the error correction model is used to determine how much the domestic price adjustments are when there is an increase or decrease in international prices for essential commodities. The results showed an adjustment in domestic prices when global prices increased or decreased for wheat flour, granulated sugar, soybeans, beef, and broiler meat. Based on the coefficient and significance level, there was no domestic price adjustment for rice and broiler chicken eggs. Policy implications include providing input for policymakers in determining prices so that market prices are stable and in line with people's purchasing power.
42
Ang, James S., Gwoduan David Jou, and Tsong-Yue Lai. "Alternative Formulas to Compute Implied Standard Deviation." Review of Pacific Basin Financial Markets and Policies 12, no. 02 (June 2009): 159–76. http://dx.doi.org/10.1142/s0219091509001599.
Full textAbstract:
We assume that the call option's value is correctly priced by Black and Scholes' option pricing model in this paper. This paper derives an exact closed-form solution for implied standard deviation under the condition that the underlying asset price equals the present value of the exercise price. The exact closed-form solution provides the true implied standard deviation and has no estimate error. This paper also develops three alternative formulas to estimate the implied standard deviation if this condition is violated. Application of the Taylor expansion on a single call option value derives the first formula. The accuracy of this formula depends on the deviation between the underlying asset price and the present value of the exercise price. Use of the Taylor formula on two call option prices with different exercise prices is used to develop the second formula, which can be used even though the underlying asset price deviates significantly from the present value of the exercise price. Extension of the second formula's approach to third options value derives the third formula. A merit of the third formula is to circumvent a required parameter used in the second formula. Simulations demonstrate that the implied standard deviations calculated by the second and third formulas provide accurate estimates of the true implied standard deviations.
43
Carvalho, Carlos, Jae Won Lee, and Woong Yong Park. "Sectoral Price Facts in a Sticky-Price Model." American Economic Journal: Macroeconomics 13, no. 1 (January 1, 2021): 216–56. http://dx.doi.org/10.1257/mac.20190205.
Full textAbstract:
We develop a multisector sticky-price DSGE model that can endogenously deliver differential responses of prices to aggregate and sectoral shocks. Input-output production linkages and a (standard) monetary policy rule contribute to a slow response of prices to aggregate shocks. In turn, labor market segmentation at the sectoral level induces within-sector strategic substitutability in price-setting decisions, which helps the model deliver a fast response of prices to sector-specific shocks. We estimate the model using aggregate and sectoral price and quantity data for the United States and find that it accounts well for a range of sectoral price facts. (JEL E12, E21, E31, E32, E43, E52)
44
Ann, Jihee. "Analysis of Changes in Property Tax Burden According to the Policy of Realizing Published Prices of Real Estate." Korea Real Estate Society 72 (June 30, 2024): 89–114. http://dx.doi.org/10.37407/kres.2024.42.2.89.
Full textAbstract:
This study focused on the impact of the policy of realizing published prices of real estate on real estate property taxes and estimated the property tax burden using real estate price announcement data for land, single-family house, and apartment from 2017 to 2020. In addition, the changes in tax burden by year were analyzed and compared by real estate type, price level, and region to discuss the impact of the published price realization policy and suggest policy implications. According to the analysis of changes in the estimated property tax burden, the property tax burden increased significantly after the realization policy, and the gap in the property tax burden by region and price level widened. And the tax burden increased intensively on specific real estate types and high-priced real estate. This suggests that the policy of applying the realization of the published price differently by price range can rather hinder vertical and horizontal equity of taxation among taxpayers.
45
Lee, Yun-Hong. "Effect of Changes in Fertility Rate and Demographic Structure on Housing Prices: Centering on Dongtan New Town." Korean Association for Housing Policy Studies 30, no. 3 (August 31, 2022): 113–39. http://dx.doi.org/10.24957/hsr.2022.30.2.113.
Full textAbstract:
As a result of analyzing the influence of variables related to the demographic structure, it was found that the price of apartments traded at a time when the total fertility rate was high, the lower the price. In the case of acetic age, the price of apartments traded at a time when the acetic age was higher was found to be lower. It was found that the ratio of single-person households had a negative effect on apartment transaction prices, and the ratio of double-person households had a positive effect on apartment transaction prices.
These results suggest that transaction prices tend to fall as apartments traded at a time when the number of single-person households composed of unmarried or students increases.
On the contrary, it was found that apartments traded at a time when more double-person households move in are more likely to rise in price. The elderly ratio was found to have no significant effect on apartment transaction prices, but the higher the price of apartments traded at a time when more people in their 60s moved in. In addition, it was found that the high proportion of people in their 60s moved in and apartment prices rose during the period when their transactions were concentrated, mainly in high-priced apartment complexes. These results suggest that changes in fertility rates and demographic structure have a significant impact on apartment prices in new cities. Therefore, it seems important to predict changes in the fertility rate and demographic structure of the region when deciding on apartment supply policies to prevent soaring apartment prices.
46
Triantafyllidou, Anna, Persefoni Polychronidou, and Ioannis Mantzaris. "International Oil Price and Domestic Refinery Price: Empirical Evidence for Greece." WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS 20 (December 1, 2023): 2684–91. http://dx.doi.org/10.37394/23207.2023.20.228.
Full textAbstract:
Fuel prices and the pronounced fluctuations in the international oil market are among the most widely discussed topics worldwide. Recent international developments, including energy crises, have resulted in a substantial surge in global oil prices, leading to price increases across all countries and in all petroleum products. This paper investigates the correlation between international oil prices and refining costs in Greece. More specifically, this study focuses on how rapidly refinery prices respond to potential increases or decreases in the international oil price, commonly known as the ’Rockets and Feathers’ phenomenon. The investigation assesses the reaction of diesel and gasoline refinery prices to fluctuations in the international oil price and explores the potential presence of asymmetry. The econometric model employed is based on an asymmetric error correction model, utilizing weekly data spanning from 2013 to 2022 for Greece. According to our findings, both diesel and 95-octane gasoline prices exhibit an asymmetric response to international oil prices. Notably, refinery prices react more promptly to price increases than to decreases in the global oil price. This study holds particular significance, as this delay is reflected in final retail prices, indicating the possible existence of pricing asymmetries. Additionally, the issue of oil purchase contracts arises, which guarantee a fixed price regardless of the prevailing international oil price at the time and, consequently, do not justify such fluctuations in refinery prices. These findings could prove valuable for competition policy within Greece’s vertical oil market.
47
Kalyva, Zoi C., Ioanna S. Kosma, and Dimitris Skalkos. "Young Consumers’ Price Perceptions in Purchasing Foods: Evidence from Greece." Sustainability 16, no. 13 (July 5, 2024): 5752. http://dx.doi.org/10.3390/su16135752.
Full textAbstract:
The recent consecutive economic and social crises impose sustainable “from farm to fork” food chain management to feed the global population. In this study, we investigated the price perceptions of young consumers (Gen Z) in purchasing foods in Greece to find out the determinants ensuring sustainable, future food consumption. We used eight overall price perception determinants, five with negative roles, namely value and price consciousness, coupon and sales proneness, and price mavenism, and three with positive roles, namely price–quality, price–value, and prestige–sensitivity for the formation of the study’s questionnaire. A total of 514 students (Gen Z, 85%) answered the questionnaire, promoted through the Google platform during September and October 2023. The data were analyzed with statistical tools, combining cross and chi-square tests. Between the negative determinants, the “value consciousness” price perceptions (71.02%) were the most important parameters in purchasing food, followed by “price consciousness” (55.02%) parameters. “Coupon proneness”, 48.4%, and “sales proneness”, 49%, were equally lower, while “price mavenism” parameters were minimally preferred by only 26.4% of the participants. Participants exhibited a major preference for the “value to price” interconnection (66.7%), such as good value for money, value exceeding a product’s price, and overvalued low-priced foods, while their preference for the “quality to price” interconnection was significantly lower (48.8%), such as in terms of getting what you pay for, more money for better quality, and priced, quality foods. The “prestige–sensitivity” price perception was outside of their preferences in terms of food purchasing (only 7.1%). Our findings indicate that young consumers (Gen Z) pay more attention to the values of negative and positive parameters concerning price perceptions when purchasing food rather than quality, coupons and sales, low prices, and mavenism, or even the prestige of the foods. This means that value issues such as the perceived environmental impact (green value), the climate crisis, the social signaling potential, and others are significant concerns, including their price perceptions for food purchases.
48
MITOV, GEORGI K., SVETLOZAR T. RACHEV, YOUNG SHIN KIM, and FRANK J. FABOZZI. "BARRIER OPTION PRICING BY BRANCHING PROCESSES." International Journal of Theoretical and Applied Finance 12, no. 07 (November 2009): 1055–73. http://dx.doi.org/10.1142/s0219024909005555.
Full textAbstract:
This paper examines the pricing of barrier options when the price of the underlying asset is modeled by a branching process in a random environment (BPRE). We derive an analytical formula for the price of an up-and-out call option, one form of a barrier option. Calibration of the model parameters is performed using market prices of standard call options. Our results show that the prices of barrier options that are priced with the BPRE model deviate significantly from those modeled assuming a lognormal process, despite the fact that for standard options, the corresponding differences between the two models are relatively small.
49
Chiang, Ying-Hui, Yuan Ku, Feng Liu, and Chin-Oh Chang. "International Real Estate Review." International Real Estate Review 22, no. 1 (March 31, 2019): 109–29. http://dx.doi.org/10.53383/100277.
Full textAbstract:
Due to housing stock heterogeneity, most academic discussions on price dispersion in the housing market have traditionally focused on the search behavior of consumers and neglected the housing and neighborhood characteristics that are related to price dispersion. This study applies a rich empirical data set from Taipei to explore the neighborhood characteristics that are associated with a higher degree of dispersion in housing price and associated likelihood of such. We track the housing transactions at the residential community level, and group the communities based on the coefficient of variation of the transaction prices in each community after controlling for community and housing characteristics. We apply a multinomial logistic regression to examine which neighborhood characteristics are more likely to be associated with higher price dispersion. We find that communities with higher price levels and built by government agencies are less likely to have high price dispersion, while those that are older, priced lower or have a minimum floor area of 50 pings are more likely to have higher price dispersion.
50
Maghfiroh Setiati and Rizka Ramayanti, SE., M.Si. "PENENTUAN BIAYA PRODUKSI DENGAN METODE FULL COSTING UNTUK MENETAPKAN HARGA JUAL PRODUK CAFE BUKAN RUANG." Jurnal Akuntansi dan Bisnis Krisnadwipayana 10, no. 2 (August 28, 2023): 1360–71. http://dx.doi.org/10.35137/jabk.v10i2.19.
Full textAbstract:
The purpose of this study is to determine the cost of production at the Not Ruang Cafe using the full costing method to set the price. This type of quantitative descriptive with a comparative approach. The data used are primary data and secondary data to help researchers do the calculations. The results of this study indicate that the production costs determined by the company are lower than those determined using the full costing method, because the company has not included elements of direct labor costs and factory overhead costs into production costs. The current selling price of the product only uses estimates of production costs and competitors' selling prices. In contrast to the selling price determined by the cost plus pricing method, the selling price of Anteng's milk coffee, latte and pandan latte is higher than the company's selling price. However, Long Black, Taro Latte, Matcha Latte and Chocolate products are priced below the retail price set by the company. With the cost plus pricing method, a profit of Rp 1,520,491 is obtained, which is higher than the current selling price.