Search results for "Price difference"
showing 3 items of 3 documents
Risk aversion in prediction markets: A framed-field experiment
2016
International audience; To make better decisions today, companies and other economic agents are interested in getting accurate predictions of future events. Prediction markets can, at least potentially, give those accurate forecasts for the probability of the event by aggregating information from traders. However, formal studies highlight that the risk attitudes of market participants may bias the market equilibrium prices, and consequently make the prediction unreliable. This research examines the effect of participants' risk attitudes on prediction market prices, through a framed field experiment on the two semifinals at the 2015 NCAA Men's Division Basketball Tournament. The results of t…
Italian red wine in the Japanese market: a hedonic price analysis
2017
This study applies the hedonic pricing model to examine important objective attributes appearing on the label of Italian wines influencing average customer wine prices in Japan. Data on 829 red Italian wines sold in the Japanese market were collected through the wine searcher dataset, and the information included on the wine labels, useful for assisting in the selection and appreciation of wines, has been included. A log-linear model was esteemed and the proposed hedonic equation accounted for 43.5% of the variation in wine prices. The results indicate that international grape varieties, alcohol content and the year of production explain most of the price difference. On the other hand, the …
Pricing of electricity futures based on locational price differences : empirical evidence from Finland
2016
Tietyn maantieteellisen alueen kilpailullisilla sähkömarkkinoilla on yleensä viitespot-hinta, joka kuvastaa yleistä hintatasoa tukkumarkkinalla, ja jota käytetään johdannaisten viitehintana. Paikallisten markkinoiden hinnat saattavat kuitenkin poiketa tästä viitehinnasta siirtoyhteyksien rajallisuuden takia. Pohjoismaisilla sähkömarkkinoilla ns. systeemi- ja tarjousalueen aluehinnan väliseltä basis-riskiltä suojaudutaan ns. aluehintaero-johdannaisilla (eng. Electricity Price Area Differential, EPAD). Tutkin tässä pro gradu- työssä Suomen tarjousalueen EPAD-tuotteiden ja vastaavan aluehintaeron yhteyttä. Koska sähkö ei ole varastoitavissa, yleisen näkemyksen mukaan sopiva sähköfutuurien hinn…