Search results for " Price"
showing 10 items of 290 documents
Estimating the environmental and resource costs of leakage in water distribution systems: A shadow price approach.
2016
Water scarcity is one of the main problems faced by many regions in the XXIst century. In this context, the need to reduce leakages from water distribution systems has gained almost universal acceptance. The concept of sustainable economic level of leakage (SELL) has been proposed to internalize the environmental and resource costs within economic level of leakage calculations. However, because these costs are not set by the market, they have not often been calculated. In this paper, the directional-distance function was used to estimate the shadow price of leakages as a proxy of their environmental and resource costs. This is a pioneering approach to the economic valuation of leakage exter…
Feasibility Studies for Water Reuse Projects: Economic Valuation of Environmental Benefits
2010
Water reuse is emerging as a promising alternative because it enables water resources to be increased and lowers pollution levels by reducing wastewater. In recent decades, significant technological progress has been made in the field of wastewater regeneration; and project feasibility is now mostly subject to just economic assessment. However, the economic aspect is the least addressed aspect of research into water reuse. This is because private costs are generally considered while the external effects are relegated to a series of statements about the advantages of water reuse. Methodologies used to analyze the economic feasibility of these projects usually focus on internal costs. As a re…
Export Price Discrimination in Europe and Exchange Rates
2002
The paper studies pricing-to-market behavior on a wide range of disaggregated European Union exports to OECD countries. The sample allows better identification of products for which such behavior is pervasive. The results suggest that the degree of markup adjustment in response to exchange rate changes is similar across destination markets. The evidence of pricing-to-market across source countries ranges from 40% (Netherlands) to 63% (Germany) of the products in the sample, except for the United Kingdom, where there is remarkably little evidence of it. However, formal comparisons across source countries by product do not usually reveal differences in behavior.
Futures pricing in electricity markets based on stable CARMA spot models
2012
We present a new model for the electricity spot price dynamics, which is able to capture seasonality, low-frequency dynamics and the extreme spikes in the market. Instead of the usual purely deterministic trend we introduce a non-stationary independent increments process for the low-frequency dynamics, and model the large uctuations by a non-Gaussian stable CARMA process. The model allows for analytic futures prices, and we apply these to model and estimate the whole market consistently. Besides standard parameter estimation, an estimation procedure is suggested, where we t the non-stationary trend using futures data with long time until delivery, and a robust L 1 -lter to nd the states of …
Let’s Ask About Sex : Methodological Merits of the Sealed Envelope Technique in Face-to-Face Interviews
2020
When it comes to deviant behavior and other sensitive topics, respondents in surveys tend either to refuse answering such sensitive questions or to tailor their answers in a socially desirable direction. This occurs by underreporting on negatively connoted behaviors or attitudes and by overreporting on positively connoted ones (be it deliberately or undeliberate). Thus, prevalence estimates of deviant traits are biased. Moreover, if the tendency to misreport is related to influencing factors of the deviant behavior or attitude under investigation, the correlations are biased as well.
Pricing to market behaviour in European car markets
2003
Abstract This paper investigates PTM behaviour in European car markets for a period of great interest (1993–98), taking into account the role of invoicing currency. The results indicate that local currency price stability is a strong and pervasive phenomenon across products independently of the invoicing currency. The paper offers robustness checks, tests and arguments that justify the interpretation of this finding, at least in part, as evidence of PTM. It implies the existence of market segmentation and price discrimination, despite the completion of the single market programme on 1 January 1993.
A Methodology to Detect the Deviations of the Project s Budget Compared to Market Prices
2015
[EN] The budget of a project reflects the cost of the investment needed to build an infrastructure, install a system or acquire new materials or supplies. A well-formulated budget in accordance with market prices, allows contractors to prepare offers according to their technical, economic and financial characteristics. On the other hand, it avoids current philosophies that aim to get the contract at any price. Philosophies subsequently used to point out problems and claims during the execution of the project (contradictory prices, delays, etc.) in order to recover some or the entire economic bid carried out during the tendering. In this paper a simple and fast methodology is developed to ch…
Joan Robinson and Keynes: finance, relative prices and the monetary circuit.
2003
Joan Robinson's views on credit and money are discussed only rarely. Of late, however, some Post-Keynesians have sought to revive these views, claiming that Robinson was one of the original contributors to the theory of endogenous money, post Keynes. This paper has two objectives. First, it seeks to develop Robinson's views on credit, money and finance and to show that not only did she have a clear understanding of the theory of endogenous money, but that she also held views akin to the theory of the monetary circuit. Second, the paper addresses Robinson's dismissal of the problem of relative prices and the conventional theory of value. Once again, it shows that Robinson's position is conne…
Extreme value theory versus traditional GARCH approaches applied to financial data: a comparative evaluation
2013
Although stock prices fluctuate, the variations are relatively small and are frequently assumed to be normally distributed on a large time scale. But sometimes these fluctuations can become determinant, especially when unforeseen large drops in asset prices are observed that could result in huge losses or even in market crashes. The evidence shows that these events happen far more often than would be expected under the generalised assumption of normally distributed financial returns. Thus it is crucial to model distribution tails properly so as to be able to predict the frequency and magnitude of extreme stock price returns. In this paper we follow the approach suggested by McNeil and Frey …
Fair Planning and Affordability Housing in Urban Policy. The Case of Syracuse (Italy)
2016
Equalization can be implemented in the planning process by means of several tools. The Syracuse’s Master Plan has used “urban negotiation” to obtain land for facilities and public infrastructure in different urban areas basing on the rule of the transfer of a portion of land in return for the building permission for the remaining part of each property to be developed. The Master Plan also aimed at providing social housing because the economic crisis has amplified the gap between housing market prices and household income. This study proposes an equalization and compensation model to support the urban negotiation for providing the indexes of a fair and convenient development of several inter…