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1
Hillman, Bruce J. "What Price Certainty?" Journal of the American College of Radiology 13, no. 4 (April 2016): 361–62. http://dx.doi.org/10.1016/j.jacr.2015.12.030.
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Aldy, Joseph E., and Sarah Armitage. "Cost-Effectiveness Implications of Carbon Price Certainty." AEA Papers and Proceedings 110 (May 1, 2020): 113–18. http://dx.doi.org/10.1257/pandp.20201083.
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While a firm knows the carbon price with certainty under a tax, it must form an expectation about future allowance prices to identify its cost-effective abatement investment under a capand-trade program. We illustrate graphically how errors in forming this expectation increase the costs of irreversible pollution abatement investment under cap-and-trade relative to a tax. We describe empirical “cost-effectiveness anomalies” in allowance markets that may be attributed to cap-and-trade's inherent uncertainty. We model investment under simulated US carbon tax and cap-and-trade policies and find that allowance price uncertainty can increase resource costs 20 percent for a given quantity of emission abatement.
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Burns, D. M. "Environmental Tobacco Smoke: The Price of Scientific Certainty." JNCI Journal of the National Cancer Institute 84, no. 18 (September 16, 1992): 1387–89. http://dx.doi.org/10.1093/jnci/84.18.1387.
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Wiatrowski, Jacek, and Anna Nowicka. "EXEGESIS OF THE REASONS FOR THE RAPID GROWTH OF ENTITIES PROVIDING PROFESSIONAL LEGAL ASSISTANCE." Scientific Journal of Polonia University 32, no. 1 (April 3, 2019): 110–15. http://dx.doi.org/10.23856/3214.
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The exegesis, which had been taken clearly proves about the abrupt growth of entities providing professional legal assistance. Such tendency has permanent character, confirms the thesis that there has been a chronic shortage of such services in Poland, while the growth of the number of entities providing legal services certainly enforces price adjustment, increasing the range of beneficiaries of legal aid, however this trend does not correlate with certainty with scope qualitative examination of legal services.
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Anysz, Hubert, and Krzysztof Kaczorek. "The Conjugated Triangle Method CTM of the detection of inconsistent bids in the construction industry." MATEC Web of Conferences 219 (2018): 04003. http://dx.doi.org/10.1051/matecconf/201821904003.
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The existing system of bids evaluation in the construction industry does not bring the clients the certainty if all placed bids comprise real, achievable prices. Especially in the road construction sector, where the earthworks create significant part of the works, comparing e.g. the price of 1 km of roads often gives misleading results. The paper comprises the complete proposal to modify the scope of information provided by offerors in the public procurements (in the construction industry) allowing the clients to determine easily if the contractors have placed the consistent offers i.e. if the bid prices are not too high and if the lowest bid price is not a dumping price. The Conjugated Triangle Method (CTM) of inconsistent bid detection in construction industry is based on the three inter-related parameters: means of production, time of works, on the value of works. Regardless of the offered price it should match the other two parameters.
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Roth, Stefan, Lena Himbert, and Stephan Zielke. "Does unit pricing influence store price image dimensions and shopping intentions for retail stores?" European Journal of Marketing 51, no. 7/8 (July 11, 2017): 1396–413. http://dx.doi.org/10.1108/ejm-12-2015-0834.
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Purpose While previous literature focusses on the impact of unit pricing on the customer level by analysing customer awareness and product choice, the present research aims to highlight the impact unit pricing has at the store level. Design/methodology/approach The impact of unit pricing on the store price image is investigated in two experiments. While the first experiment assesses the general influence of unit price presence and unit price prominence on store price image, the second experiment provides further insights into the influence of unit price prominence on store price image and shopping intentions under consideration of moderating variables. Findings This research demonstrates that the availability of unit prices influences several store price image dimensions positively, namely, price processibility, price perceptibility and evaluation certainty. There is also an indirect positive effect on value-for-money perception. Furthermore, unit price prominence has a positive effect on the dimension price processibility. There is a positive influence of unit price presence and unit price prominence on the consumers’ intention to shop at a given store through the store price image. Originality/value This paper adds to the existing unit price and store price image literature and derives implications for retailers as well as for policymakers regarding the presentation of unit prices on price labels. Policymakers can use the results for motivating retailers to use unit price information more actively and present it more prominently beyond the minimum regulatory standards.
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Du Plessis, Hanri M. "The Unilateral Determination of Price – a Question of Certainty or Public Policy?" Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad 16, no. 3 (May 3, 2017): 66. http://dx.doi.org/10.17159/1727-3781/2013/v16i3a2360.
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The unilateral determination of price has been a controversial issue for an extended period of time. During the 1990s the Supreme Court of Appeal asked if the rule should still form part of South African law. Specifically, the court raised a few questions in respect of the rule and commented that the rule as applied in South African law is illogical. The court also remarked that public policy, bona fides and contractual equity might also be employed when considering such issues. Despite the criticisms of the Supreme Court of Appeal, it would seem that the rule still forms part of our law. This article investigates whether or not the rule should be retained in the South African common law. The answer will depend on two separate questions: Is the rule a manifestation of the requirement of certainty of price? If not, does public policy require that the rule be retained? The article shows that the rule prohibiting the unilateral determination of price should not be seen as a manifestation of the requirement of certainty of price. This is because there are various circumstances where the unilateral determination of the price results in certainty of price or can be applied in such a way as to arrive at certainty of price. Most of these arguments require that the discretion to determine the price should not be unfettered and should be subject to some objective standard. This can be done expressly or tacitly in the contract, or an objective standard (in the form of reasonableness) will be implied by law. Thereafter, the article considers various public policy considerations that could be used to determine if a discretion to determine the price should be enforced. The article argues that public policy may dictate that such a discretion should be valid and enforceable provided that it is not unfettered and subject to an external objective standard or reasonableness. However, in cases where an unfair bargaining position is present, public policy may dictate otherwise. The article accepts that whether a term providing for the unilateral determination of the price would be contrary to public policy or not will depend on the facts of the case. However, it is submitted that, at a minimum, the considerations and factors discussed in the article should be taken into account when making such an assessment.
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Brooks, Simon A. "What Price Insanity?" Canadian Journal of Psychiatry 33, no. 2 (March 1988): 118–24. http://dx.doi.org/10.1177/070674378803300209.
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The insanity defence in Canada is defined by the use of Section 16 of the Criminal Code. Legal sanity is determined by the application of an outdated set of rules which require only that the accused be able to determine right from wrong in the particular circumstances that appear to have applied at the time of the alleged offence. The actual application of the defence suggests that its interpretation in practice is considerably affected by factors other than the mental state of the accused. The arbitrary and ill-understood nature of these interposed factors removes any certainty that justice, or the well-being of the accused, is to be found by use of the existing law. Psychiatry should not rest content that its understanding of the determinants of human behavior is in any way accurately represented by Canada's Criminal Code.
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Johnstone, David, and Alfred Wagenhofer. "Capacity Planning Under Uncertainty and the Cost of Capital." Journal of Management Accounting Research 30, no. 3 (July 1, 2017): 169–85. http://dx.doi.org/10.2308/jmar-51859.
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ABSTRACT We explore how risk aversion affects optimal capacity and pricing decisions within the economic setting of Banker and Hughes (1994). A risk-averse firm invests in fixed capacity and sets a product price, but can also purchase spot capacity at higher unit cost. Initial capacity and price are set by maximizing the firm's mean-variance certainty equivalent. We find that, contrary to common intuition, optimal capacity or list prices can increase under greater risk aversion depending on exogenous fundamentals. We show how the firm's capacity and price choices affect the economic trade-off between the mean and the risk of the firm's uncertain payoffs. We also show that the cost of capital is affected not only by the firm's covariance with other assets, but also by its payoff mean. The objective of minimizing the cost of capital is, therefore, fundamentally inconsistent with maximizing project value.
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Abraham, H. "Is management of risk sharing by banks a cause for bank runs?" South African Journal of Business Management 41, no. 1 (March 31, 2010): 51–55. http://dx.doi.org/10.4102/sajbm.v41i1.513.
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A bank, acting as a central planner under aggregate full certainty, optimizes liquidity allocation by sharing risk between discrete number of depositors. This paper demonstrates the following. (a) It is sufficient to rule out a bank run if all depositors inform the bank their types, patient or impatient, in advance, in a noncommittal manner. There cannot be a bank run because depositors’ strategic behaviour induces the bank to act as a central planner under aggregate full certainty. (b) The impossibility of a bank run is consistent with the price mechanism in partial equilibrium; but it may be inconsistent with the price mechanism in general disequilibrium. (c) The paper concludes that the management of risk sharing by banks is not a cause for bank runs.
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HAKOBYAN, SHUSHANIK, and JOEL P. TRACHTMAN. "EU–Fatty Alcohols (Indonesia): Corporate Structure, Transfer Pricing, and Dumping." World Trade Review 18, no. 2 (March 29, 2019): 245–61. http://dx.doi.org/10.1017/s1474745619000065.
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AbstractThe EU–Fatty Alcohols decision of the Appellate Body addressed an important issue of the scope of permissible adjustments under Article 2.4 of the Agreement on Interpretation of Article VI of the GATT 1994, focusing on the ‘mark-up’ paid by an Indonesian exporter to a related company as a difference affecting price comparability between the export price and the normal value. The Appellate Body confirmed that the primary focus of the investigating authority's assessment is on whether the relationship between related companies can be demonstrated to be a factor that impacts the prices of the relevant transactions. This case raises the question of whether a harmonized approach to transfer pricing across different regulatory areas would be useful to bring greater consistency of treatment and certainty to international transactions.
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K, Dr Nigama, Dr R. Alamelu, Dr S. Selvabaskar, and Dr K. G. Prasanna Sivagami. "Predicting Stock Price Using Artificial Neural Networks." Restaurant Business 118, no. 8 (August 23, 2019): 96–117. http://dx.doi.org/10.26643/rb.v118i8.6985.
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Stock market facilitates the economic activities that contribute to a nation’s growth and prosperity. This is viewed as one of the lucrative avenues for financial investment. Although the stock market is a thrilling and potential opportunity to grow one’s money, it brings along with it certain challenges, because, there is no universal rule that suggests profitable investments. Investors, corporate and advisors employ several techniques like fundamental and technical analysis, trend analysis and other analysis to suggest stocks that will give best yields but such tools are neither consistent nor foolproof in the prediction of stock prices. But human exertions to convert the tacit knowledge into explicit knowledge has never found any alternate. More, the uncertainties, more the efforts to know them with certainty. Digital economy with its advanced technological tools aids the pursuit of not only understanding uncertainties but also predicting the future with maximum precision. The most prominent techniques in the technological realm includes the usage of artificial neural networks (ANNs) and Genetic Algorithms. This paper discusses the stock prices forecasting ability of Bombay stock exchange trend using genetically evolved neural networks, the input being the closing price of the previous five years and output being the price for the next day. Risk (Standard deviation), Average Return, variance and Market price are chosen as indicators of the performance. The objective of this study is to give an overview of the application of artificial neural network in predicting stock market.
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Lambert, Steve. "OIL PRICE RISK MANAGEMENT IN THE 1990s—ISSUES FOR PRODUCERS AND LENDERS." APPEA Journal 34, no. 1 (1994): 872. http://dx.doi.org/10.1071/aj93067.
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Oil prices have exhibited considerable volatility over the past five or ten years and the management of oil price risk has become an important factor in underpinning the viability of many oil producing operations from both a lender's and investor's perspective. Various oil based hedging products are now available to protect against such volatility, ranging from products which fix forward prices to option based arrangements which set a floor price but retain some (or all) of the potential upside. These products have particular relevance for petroleum companies with limited financial resources or who are looking to limit recourse to particular assets/cashflows.There are a number of techniques which can be successfully combined to mitigate oil price volatility and the most relevant of these to a producer are discussed. The recent development of the Tapis swap and option markets, which have provided flexibility to Australasian producers, is also discussed.Oil based financial products can also be used as a method of funding (say for a development or acquisition) as an alternative to traditional cash based borrowing structures, thus creating a natural hedge against oil price movements. The use of such structures, coupled with a well structured revenue hedging program, can enhance a project's attractiveness from a lender's perspective (particularly with respect to protection against downside movements in oil price) and/or provide greater certainty of returns to producers.A case study of a recent commodity risk management based financing is presented which highlights many of the points discussed.
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FRIEDMAN, CRAIG. "CONFRONTING MODEL MISSPECIFICATION IN FINANCE: TRACTABLE COLLECTIONS OF SCENARIO PROBABILITY MEASURES FOR ROBUST FINANCIAL OPTIMIZATION PROBLEMS." International Journal of Theoretical and Applied Finance 05, no. 01 (February 2002): 33–54. http://dx.doi.org/10.1142/s0219024902001353.
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Despite the widespread realization that financial models for contingent claim pricing, asset allocation and risk management depend critically on their underlying assumptions, the vast majority of financial models are based on single probability measures. In such models, asset prices are assumed to be random, but asset price probabilities are assumed to be known with certainty, an obviously false assumption. We explore practical methods to specify collections of probability measures for an assortment of important financial problems; we provide practical methods to solve the robust financial optimization problems that arise and, in the process, discover "dangerous" measures.
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Arihara, Katsuhiko, Atsunori Ariga, and Takeshi Furuya. "The price-based certainty of purchase influences consumer behavior for discount." Japanese journal of psychology 87, no. 1 (2016): 12–20. http://dx.doi.org/10.4992/jjpsy.87.14052.
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Chambers, Robert G., and John Quiggin. "Indirect certainty equivalents for the firm facing price and production uncertainty." Economics Letters 78, no. 3 (March 2003): 309–16. http://dx.doi.org/10.1016/s0165-1765(02)00258-6.
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Miller, Stephen E. "Forward Contracting Versus Hedging Under Price and Yield Uncertainty." Journal of Agricultural and Applied Economics 18, no. 2 (December 1986): 139–46. http://dx.doi.org/10.1017/s008130520000618x.
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AbstractAlthough apparently preferred by farmers to direct hedging as a forward pricing mechanism, forward contracting has received little attention in the literature dealing with optimal forward pricing levels. An often-cited reason for producer preference for forward contracting is the absence of basis risks under that forward pricing alternative. This paper presents models of optimal forward contracting and hedging under price and yield uncertainty within a mean-variance framework. The results indicate that basis certainty does not explain preferences for forward contracting.
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Field, Alexander James. "The Magnetic Telegraph, Price and Quantity Data, and the New Management of Capital." Journal of Economic History 52, no. 2 (June 1992): 401–13. http://dx.doi.org/10.1017/s0022050700010822.
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The contribution to growth of telegraphic- as opposed to rail-speed transmission of financial asset and commodity price data remains unclear. With more certainty we can identify savings in the holdings of real capital—savings made possible by the use of the telegraph at the firm level to implement tight systems of logistical control.
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Wee, Kenneth. "Achieving tax certainty for oil and gas projects." APPEA Journal 57, no. 2 (2017): 577. http://dx.doi.org/10.1071/aj16227.
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In recent years, oil and gas companies have been exposed to prolonged periods of volatile oil prices, rising costs and productivity challenges, scarcity and affordability of capital, heightened regulation and accountability and the competition of emerging alternative renewable energy sources. As Australian projects weather the current global oil price and demand–supply dynamics, the future prospects of greenfield and brownfield opportunities will depend on how well proponents can achieve certainty over the geological, geophysical, socioeconomic, operational, political and fiscal aspects affecting their projects. Establishing certainty of the tax regime and how it will apply over the lifetime of a project is crucial to its after-tax economics and is therefore a central piece of the puzzle that must be solved to secure project investment sanction. This is particularly prudent in an era of increased scrutiny by communities and tax authorities globally on multinationals contributing their fair share of taxes wherever they operate. So, how is tax certainty attained from the outset, and protracted disputation mitigated, in an environment where the tax law is constantly evolving? Early engagement with the Australian Taxation Office (ATO) is critical to understanding and assuring how the tax law will be interpreted and administered. This paper discusses: (1) best practice ATO engagement avenues for entities seeking to manage the Australian tax profile of oil and gas projects; (2) how to achieve justified trust and be tax-assured; and (3) the types of ATO products best suited to addressing particularly significant tax considerations confronting oil and gas projects.
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HAREL, ARIE, and GIORA HARPAZ. "SECURITY MARKETS WITH PRICE LIMITS: A BAYESIAN APPROACH." International Journal of Theoretical and Applied Finance 09, no. 03 (May 2006): 359–72. http://dx.doi.org/10.1142/s0219024906003585.
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Several financial markets impose daily price limits on individual securities. Once a price limit is triggered, investors observe either the limit floor or ceiling, but cannot know with certainty what the true equilibrium price would have been in the absence of such limits. The price limits in most exchanges are typically based on a percentage change from the previous day's closing price, and can be expressed as return limits. We develop a Bayesian forecasting model in the presence of return limits, assuming that security returns are governed by identically and independently shifted-exponential random variables with an unknown parameter. The unique features of our Bayesian model are the derivations of the posterior and predictive densities. Several numerical predictions are generated and depicted graphically. Our main theoretical result with policy implications is that when return-limit regulations are tightened, the price-discovery process is impeded and investor's welfare is reduced.
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O'Brien, John R. "Experimental Stock Markets with Controlled Risk Preferences." Journal of Accounting, Auditing & Finance 7, no. 2 (April 1992): 117–34. http://dx.doi.org/10.1177/0148558x9200700201.
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In this paper the empirical validity of the binary lottery preference inducing technique is tested in a real world market institution. In each market the potential gains to exchange arise from induced risk preferences, and the predicted competitive equilibrium is equivalent to the Pareto optimal risk sharing allocation. Price convergence to (and near) the competitive equilibrium price was rapid in each market, and most trades were individually rational with respect to induced certainty equivalents. This evidence implies that preferences can be induced in an oral double auction institution, using this technique.
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Oosthuizen, Annien, and J. H. Van Rooyen. "Risk-free assets: Are they truly risk-free? A comparative study of South African rates and instruments." Risk Governance and Control: Financial Markets and Institutions 3, no. 3 (2013): 127–48. http://dx.doi.org/10.22495/rgcv3i3c1art5.
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Determining the price of a financial instrument is something that happens every day in the financial markets. Every price starts off with a spot price adjusted for interest until maturity of the particular instrument. The interest is usually described as risk-free interest. The price so determined is the most basic price that an investor is willing to pay if not risk is involved. Risk-free assets, then, are securities of which the future rates of return are known with certainty. An exceptional degree of confidence in the issuer of the security brings about this certainty. Risk-free assets are normally in the fixed income securities (capital markets) investment category or in the liquid money market instruments such as treasury bills, category. This study attempts to determine whether the risk-free rates used by treasury managers and traders in South Africa to formulate their bond yield curves and which are used in valuation models, may be deemed risk-free. The study specifies certain criteria that an asset must satisfy in order to be used as a risk-free asset. Short term and long term South African instruments are compared to the US counterpart instruments, to gain an understanding of the South African instruments relative to the US ones. The behaviour of the risk-free instruments used in South Africa is also compared to the FTSE/JSE All Share Index and gold spot prices, which are perceived to be a risky asset classes. To gain some understanding of the behaviour of these instruments, analyses were done from different angles. The standard deviations of the daily percentage changes of the R157 were significantly lower than that of the ALSI and the gold spot price change. Compared to the ALSI and gold spot price, therefore, the R157 may be deemed a “low risk” instrument. The JIBAR was even less volatile that the R157. Interestingly, the US instruments were substantially more risky than the SA instruments over the analysis period. Also the JIBAR may be labelled “low risk” in this context. To improve on the comparisons especially where the magnitudes of change and the bases were very different, indices were used to compare the different instruments. Based on the index change, the JIBAR was now more risky than the R157. The ALSI and the gold spot was sill substantially more volatile than the JIBAR and R157. On this basis, the US instruments appeared less volatile but still more volatile than the SA instruments. It may be noted that the volatility of the US instruments were greatly influenced by the recent financial crisis.
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Kwon, SoYeon, and SooCheong (Shawn) Jang. "Price bundling presentation and consumer's bundle choice: The role of quality certainty." International Journal of Hospitality Management 30, no. 2 (June 2011): 337–44. http://dx.doi.org/10.1016/j.ijhm.2010.08.001.
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Wang, Yehui, Jianxu Liu, Yuxuan Tang, and Songsak Sriboonchitta. "Housing Risk and Its Influence on House Price: An Expected Utility Approach." Mathematical Problems in Engineering 2020 (March 28, 2020): 1–16. http://dx.doi.org/10.1155/2020/3943676.
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House price is affected by households’ expectation of future house price trend and volatility, where the expected volatility of housing capital return, indicated by variance, is defined as the housing market risk. Theoretically, risk element cannot be directly inserted in the standard housing models because most of the models are built on the underlying assumption of certainty. Extending the life-cycle model to a two-asset expected utility case with uncertainty, we show house price is affected by housing market risk premium, which is a function of households’ risk-aversion coefficient, real housing wealth, and expected housing volatility. Empirical analysis relying on China’s 2001–2018 provincial housing panel data supports the theoretical innovation. Despite the empirical results show that the effect of housing market risk on house price is tiny, simulations suggest that the consideration of risk is quite helpful in analyzing and predicting the long-run house price equilibriums.
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Rosa Indah, Dewi, Iza Afalia, and Zenitha Maulida. "Pengaruh Citra Merek, Kualitas Produk dan Harga terhadap Keputusan Pembelian Produk Hand and Body Lotion Vaseline (Studi Kasus pada Mahasiswa Universitas Samudra)." Jurnal Samudra Ekonomi dan Bisnis 11, no. 1 (January 7, 2020): 83–94. http://dx.doi.org/10.33059/jseb.v11i1.1983.
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This study aims to determine the effect of brand image, product quality and price on purchasing decisions on Vaseline hand and body lotion products. The population is female students of University Samudra who use these products. Because the number is not known with certainty, a sample of 96 people was determined using the Cochran formula. Data analysis method used is multiple linear regression analysis. The results of the study concluded that partially, brand image, product quality and price had a positive and significant effect on purchasing decisions for Vaseline hand and body lotion products. In addition, the results of the study stated that the brand image, product quality and price simultaneously had a significant effect on purchasing decisions on the product.
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GARDAZI, SYED MUDASSER FIDA, MUHAMMAD ASIM IQBAL, and HAFIZ MUHAMMAD USMAN NAWAZ. "Price Reduction in Vienna Sales Convention and Compatibility Check in Sale of Goods Act of Pakistan." International Review of Management and Business Research 10, no. 1 (March 7, 2021): 367–74. http://dx.doi.org/10.30543/10-1(2021)-32.
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Price reduction is one of the civil law remedies incorporated in the Vienna sales convention. On the other hand, Pakistan is neither the signatory of the convention nor its national sales law posses this remedy. Therefore a research is highly required to fill this vacuum and find out a solution for international buyer who is involved in trade with parties in Pakistan. Thus the study aims to investigate the suitability of price reduction in compatibility with existing legal regime. The study reveals the raison d'être in contract making via relative analysis of the existence of price reduction as an assurance for performance and certainty. The results depict that adding price reduction as remedy will be a good legal cover to the buyer's claims and a better response to the business practices in Pakistan. Especially, where the buyer is facing difficulties to prove his loss he may simply opt to reduce the price. Hence, study recommends that introducing the 'price reduction' as a remedy in the local legal system will enhance the confidence of a commercial buyer from the international community. Keywords: Sale of Goods, CISG, Price Reduction, Remedy.
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Amir, Jusmarni. "The Determinan Kinerja Keuangan Perusahaan Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia." Journal of Economic, Bussines and Accounting (COSTING) 4, no. 2 (February 25, 2021): 455–63. http://dx.doi.org/10.31539/costing.v4i2.1544.
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Stocks are currently a popular investment product among investors. Stocks that are of interest to investors are stocks that have a high selling value because the stock price is a very important factor to pay attention to and indicators are used to measure the welfare of shareholders. The higher the share price, the higher the value of the company and vice versa. However, investing in stocks in the capital market is also filled with an element of uncertainty or risk, this is because investors do not know with certainty the results they will get from their investments. Company specific financial information is one of the important internal company factors that can influence investors to invest. The research aims to analyse the effect of Capital Structure, liquidity, and profitability on stock price. Samples used in this study are food and beverage companies listed in the Indonesian Stock Exchange during 2016-2018 periods. Multiple linear regression method used to anlyse the effect of DER,CAR, and NPM on Stock Price. The results showed that DER and CAR have not significant effect on Stock Price. NPM have a significant effect on Stock Price.
Keywords: Capital Structure, liquidity, Profitability, Stock Price
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Pólvora, Pedro, and Daniel Ševčovič. "Utility Indifference Option Pricing Model with a Non-Constant Risk-Aversion under Transaction Costs and Its Numerical Approximation." Journal of Risk and Financial Management 14, no. 9 (August 25, 2021): 399. http://dx.doi.org/10.3390/jrfm14090399.
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Our goal is to analyze the system of Hamilton-Jacobi-Bellman equations arising in derivative securities pricing models. The European style of an option price is constructed as a difference of the certainty equivalents to the value functions solving the system of HJB equations. We introduce the transformation method for solving the penalized nonlinear partial differential equation. The transformed equation involves possibly non-constant the risk aversion function containing the negative ratio between the second and first derivatives of the utility function. Using comparison principles we derive useful bounds on the option price. We also propose a finite difference numerical discretization scheme with some computational examples.
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Gronwald, Marc. "Is Bitcoin a Commodity? On price jumps, demand shocks, and certainty of supply." Journal of International Money and Finance 97 (October 2019): 86–92. http://dx.doi.org/10.1016/j.jimonfin.2019.06.006.
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Susanti, Susanti, Nunung Kusnadi, and Dwi Rachmina. "PENGARUH KEMITRAAN TERHADAP PRODUKSI DAN PENDAPATAN USAHATANI SAYURAN DI KABUPATEN BOGOR." Forum Agribisnis 4, no. 1 (March 1, 2014): 17–34. http://dx.doi.org/10.29244/fagb.4.1.17-34.
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The partnership between Gapoktan Rukun Tani and vegetable farmers in Bogor was designed to facilitate farmers in overcoming the limitations of production inputs, capital, and market certainty. This study compares a one year production and income of vegetables farmers who participate in the partnership to the non participated vegetables farmers in Bogor. Income analysis and R/C ratio analysis show that the partnership has no influence in increasing the farm production and income. In term of average production, income and R/C ratio, the partnership farmer was lower than that of non partnership farmer (0,96%, 0,97%, and 1,03 lower consecutively). However, the partnership farming increases the bargaining power of farmers by getting higher price and market certainty. Another advantage of paticipating in the partnership is higher access to both capital credit and production input.
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Šamarinec, Domagoj, Daria Karasalihović Sedlar, Ivan Smajla, and Lucija Jukić. "COMPARATIVE ANALYSIS OF HISTORIC PREDICTIONS AND ACTUAL GLOBAL NATURAL GAS MARKET TRENDS FOR THE PERIOD FROM 1997 TO 2020." Rudarsko-geološko-naftni zbornik 36, no. 4 (2021): 177–89. http://dx.doi.org/10.17794/rgn.2021.4.14.
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An accurate prediction of energy indicators is critical for orientation in the energy market, and it could give direction for policymakers and market participants. The aim of this research was to examine the accuracy of projections of natural gas market indicators. This paper presents a comparative analysis of historic predictions and actual global natural gas movements in several segments, namely production, consumption, and regional import dependence, as well as forecasted and actual price movements. The goal of this paper is to compare projected and actual natural gas market indicators. Predictions of market movements 20 years into the future are very useful, but they do have certain limitations. Those limitations especially apply to goods whose prices are regional and linked to price movements of another good, as is the case with natural gas. External influences have a direct impact on production and consumption, and it is rather clear that changes in one of the fundamental factors entails and magnifies the error of further predictions. Despite that, predictions of global production and consumption have proven to be very accurate. Based on the research results, it could be emphasized that for strategical planning and policy-making purposes, the predictions of natural gas production, consumption, or even import independence could be considered with great certainty, while price assumptions in the case of natural gas have shown significant mismatching, therefore, should be very carefully perceived.
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Indrianingsih, Laily, Evi Nur Saputri, and Rembulan Ratnasari. "PERLINDUNGAN KONSUMEN TERHADAP PERBEDAAN HARGA PADA RAK BARANG DENGAN STRUK KASIR DI RIA SWALAYAN MOJOSARI." DiH: Jurnal Ilmu Hukum 17, no. 2 (July 7, 2021): 230–40. http://dx.doi.org/10.30996/dih.v17i2.5259.
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AbstractThe purpose of this study is to determine the form of responsibility of business actors to consumers who are harmed because the prices of goods listed on the goods display rack are different from those on the cashier's receipt. The method used in this research is empirical juridical. The technique of this research approach is a qualitative approach by emphasizing aspects in depth (in depth analysis) on a problem. The data collection technique in this research is by conducting interviews aimed at consumers of Ria Swalayan Mojosari. The existence of supermarkets adds to the satisfaction of consumers in shopping because of its advantages compared to traditional markets. But behind these advantages, self-service also has several disadvantages, one of which is the difference in the price listed on the display rack with the price to be paid at the cashier. This is of course detrimental to consumers, because the consumer does not get certainty on the price of an item. Therefore, there is a need for regulation regarding this matter to protect consumer rights which have been regulated in Law Number 8 of 1999 concerning Consumer Protection. Where business actors must provide clear information to consumers. Consumers need to get legal protection and certainty regarding how consumer rights are regulated in the Consumer Protection Act.Keywords: consumer; price; responsibilityAbstrakTujuan penelitian ini adalah untuk mengetahui bentuk tanggung jawab pelaku usaha terhadap konsumen yang dirugikan karena harga barang yang tertera di rak display barang berbeda dengan yang ada di struk kasir. Metode yang digunakan dalam penelitian ini yaitu yuridis empiris. teknik pendekatan penelitian ini yaitu pendekatan kualitatif dengan menekankan aspek secara mendalam (in depth analysis) pada suatu persoalan. Teknik pengambilan data pada penelitian ini yaitu dengan melakukan wawancara yang ditujukan kepada konsumen Ria Swalayan Mojosari. Adanya swalayan menambah kepuasan para konsumen dalam berbelanja karena kelebihannya dibandingkan pasar tradisonal. Namun dibalik kelebihannya tersebut swalayan juga memiliki beberapa kekurangan yang salah satunya adalah adanya perbedaan harga yang tertera pada rak display dengan harga yang harus dibayar di kasir. Hal ini tentu saja merugikan konsumen, karena pihak konsumen tidak memperoleh kepastian atas harga suatu barang tersebut. Oleh karena itu perlu adanya pengaturan mengenai hal ini untuk melindungi hak-hak konsumen yang sudah diatur dalam Undang-Undang Nomor 8 Tahun 1999 tentang Perlindungan Konsumen. Dimana pelaku usaha harus memberikan informasi yang jelas kepada konsumen. Konsumen perlu mendapatkan perlindungan dan kepastian hukum mengenai bagaimana hak-hak konsumen yang diatur dalam Undang-Undang Perlindungan Konsumen.
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Tsalikis, John, Michelle Van Solt, and Bruce Seaton. "Measuring consumers’ perceptions of business ethicality on price, product, and service domains." Cross Cultural & Strategic Management 26, no. 4 (December 5, 2019): 451–66. http://dx.doi.org/10.1108/ccsm-01-2019-0017.
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Purpose The purpose of this paper is to examine consumer perceptions across various countries, and uses content analysis in order to compare individual countries’ perceptions of ethicality over three business domains: price, product and service. Design/methodology/approach The data encompasses measurements from 18 countries including the USA and countries in Eastern and Western Europe, Latin America, Asia and the Middle East Hofstede’s cultural dimensions and the gross national income purchasing power parity were explored to explain the differences in focus between countries. Findings The results indicate that Mexico and Argentina place a higher focus on price, while Russia, China and India place a greater focus on the product element. In terms of ethical perceptions of service, only Brazil places high focus on this domain. The results indicated that uncertainty avoidance was significant for five of the six countries focusing on price, suggesting that price provides a level of certainty and therefore less ambiguity. Originality/value The importance of this study is based on the idea that consumer trust is vital to the efficient running of economic activity.
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Rokonuzzaman, Md, Atmadeep Mukherjee, Pramod Iyer, and Amaradri Mukherjee. "Relationship between retailers’ return policies and consumer ratings." Journal of Services Marketing 34, no. 5 (April 13, 2020): 621–33. http://dx.doi.org/10.1108/jsm-09-2019-0340.
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Purpose Return policies are major risk-allaying cues for customers, yet they are a critical cost/lost-sales for retailers. Despite their importance in the retailing industry, few studies have examined the interplay of return policies with other cues that customers use to make a purchase decision. Toward this end, this study aims to investigate the interaction effects certain salient high-scope and low-scope cues, such as consumer ratings and brand image, and retailers’ return policies have on consumer purchase decisions. Design/methodology/approach Building on literature from signaling theory and cue scope literature (high-scope and low-scope cues), the authors develop a research model that hypothesizes the interrelationships between return policies, price discounts, customer product ratings and brand image. Three experimental studies investigate the potential interplay between return policies (lenient vs stringent), price discounts (low vs high), customer product ratings (low vs high) and brand image (high vs low) on quality certainty perceptions and purchase intentions. The mediating effect of quality certainty perceptions on the interplay of various factors (return policy, price promotions, consumer ratings and brand image) and customer purchase intentions is also investigated. Findings Results indicate that a lenient return policy will have a positive effect when consumers encounter high scope cues that signal undesirable aspects of the product (i.e. low consumer ratings, low brand image). In contrast, when high scope cues signal desirable aspects of the product (i.e. high consumer ratings, high brand image), it attenuates the effects of return policy. The findings suggest that quality certainty acts as a psychological process. Research limitations/implications Service researchers should seek to examine the role of return policies in a more comprehensive manner. Practical implications Return policies are important cues for consumers while making purchase decision. Thus, retailers need to realize that these policies may need to be more dynamic or tiered, rather than one-size-fits-all. Originality/value This study provides a more comprehensive view of how consumers consider multiple cues simultaneously in decision-making. Literature has mainly examined the interactions between different high-scope and low-scope cues, but there has been limited research directed toward the interplay between multiple high-scope cues.
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Thirtawati, Thirtawati, Desy Aryani, and Marwan Sufri. "DAMPAK PENETAPAN HARGA ECERAN TERTINGGI TERHADAP HARGA DAN KETERSEDIAAN BERAS DI TINGKAT PEDAGANG PASAR TRADISIONAL SUMATERA SELATAN." JSEP (Journal of Social and Agricultural Economics) 12, no. 3 (November 29, 2019): 49. http://dx.doi.org/10.19184/jsep.v12i03.14042.
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Highest Retail Price (HRP) of rice is a price policy implemented by the government to maintain price stability, certainty, and affordability so there is no excessive increase. This study analyzes how traders apply and understand the HRP; analyzes changes in price, quality, trademark, volume of buying and selling rice at the trader level in traditional markets and how the effectiveness of HRP determination of medium and premium rice. Research respondents were 12 traditional market rice traders from four regions in South Sumatra, namely Palembang City and Prabumulih representing consumer regions and OKI and Muara Enim Regencies representing producer regions. The results showed that not all traders knew and agreed with the policy of HRP determination. Determination of HRP causes a change in the price and quality of rice sold where the proportion of premium rice sales becomes greater than before, while for trademarks there is no change, but there is additional information of the type of rice (medium or premium) on rice packaging. Based on the calculation results, it appears that the average effectiveness of medium rice is 1,028 after the determination of HRP so that it is considered ineffective, while the average effectiveness of premium rice is 0.920 (effective).
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Anderhub, Vital, and Werner Güth. "On the Interaction of Risk and Time Preferences: An Experimental Study." German Economic Review 2, no. 3 (August 1, 2001): 239–53. http://dx.doi.org/10.1111/1468-0475.00036.
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Abstract Experimental studies of risk and time preference typically focus on one of the two phenomena. The goal of this paper is to investigate the (possible) correlation between subjects' attitude to risk and their time preference. For this sake we ask 61 subjects to price a simple lottery in three different scenarios. At the first, the lottery premium is paid `now'. At the second, it is paid `later'. At the third, it is paid `even later'. By comparing the certainty equivalents offered by the subjects for the three lotteries, we test how time and risk preferences are interrelated. Since the time interval between `now' and `later' is the same as between `later' and `even later', we also test the hypothesis of hyperbolic discounting. The main result is a statistically significant negative correlation between subjects' degrees of risk aversion and their (implicit) discount factors. Moreover, we show that the negative correlation is independent of the method used to elicit certainty equivalents (willingness to pay versus willingness to accept).
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Dinsmore, John Bowman, Scott A. Wright, and Daria Plotkina. "When time pressure counters the zero price effect." Journal of Consumer Marketing 38, no. 3 (April 8, 2021): 399–50. http://dx.doi.org/10.1108/jcm-03-2020-3722.
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Purpose The freemium pricing model is dominant in digital products such as mobile applications. While limited evaluation of a product such as when a consumer is under time pressure, has been found to increase consumer preference for the free version (“the zero price effect”), this paper aims to explore moderators that attenuate or reverse that effect. Design/methodology/approach Three experiments test the role of anchoring effects induced by time pressure in moderating the zero price effect. Findings The studies offer evidence that anchoring effects induced by time pressure can be directed to reduce preference for free versions of products. In addition, these effects are mediated by the perceived performance risk of a product and an upper boundary condition for monetary price level is found. Research limitations/implications This research demonstrates exceptions to time pressure’s role in intensifying the zero price effect. Future research could focus on additional moderators of the effect such as the need for certainty and examine time pressure’s effect on in-app purchases. Practical implications These findings can be directly applied by marketers of digital products using a freemium pricing model who wants to use time pressure to create urgency with customers without pushing them toward the free version of a product. Originality/value This paper finds exceptions to the zero price effect where consumers exhibit a stronger preference for the paid (vs free) version of a product when under time pressure.
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Wijaya, Rusmin, and Achmad Jaka Santos Adiwijaya. "OPTIMALISASI ASAS KEMANFAATAN HASIL LELANG EKSEKUSI DALAM PERSPEKTIF HUKUM INVESTASI." JURNAL ILMIAH LIVING LAW 13, no. 1 (April 23, 2021): 46. http://dx.doi.org/10.30997/jill.v13i1.4203.
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The auction activity is the sale of goods open to the public with a written and / or verbal price quote that is increasing or decreasing to reach the highest price, which is preceded by an auction announcement. Auction activities can grow the country's economy, this activity can be optimized through investment. The research method used in this research is normative juridical, and the data are analyzed qualitatively using SWOT analysis. The results of this research there are opportunities and challenges where the Mortgage Certificate has an executorial power, the Regulation supports Investors / Buyers to Invest by buying auction assets, the online auction system aims to enable KPKNL to respond quickly, cheaply, efficiently every request of potential buyers / Investors without have to go through a long bureaucracy, buyers in good faith get legal protection. As for obstacles or challenges in optimizing auction results through investment, namely the presence of auction blockage before the auction, interference or intervention from third parties, and the existence of legal remedies in the form of lawsuits, resistance, rebuttal submitted by the Respondent / debtor at the Court for reasons that are too low or Police Report. With regard to investor legal certainty, namely obtaining legal certainty and legal protection for the purchase of auction assets at the KPKNL in accordance with the provisions stipulated in article 14 of Law Number 25 of 2007 concerning Investment.Keywords : Utility Principle; Auction; Invesment Law.
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Sołtysik, Marcin. "Price agreement as an instrument to enhance the certainty of investing in Polish tax law." Ekonomiczne Problemy Usług 120 (2015): 105–18. http://dx.doi.org/10.18276/epu.2015.120-08.
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Vickery, E. J. "THE NEGOTIATED PRICE OF CERTAINTY—RECENT DEVELOPMENTS IN NATIVE TITLE AGREEMENTS AFFECTING THE PETROLEUM INDUSTRY." APPEA Journal 44, no. 1 (2004): 753. http://dx.doi.org/10.1071/aj03039.
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Development of Native Title agreements for Petroleum continues in parallel with the release of Court decisions on the law of Native Title. Negotiated agreements for three bidding rounds in the South Australian region of the Cooper Basin are now concluded, with exploration underway there and some new commercial production.These agreements were negotiated under the Commonwealth Native Title Act’s ‘Right to Negotiate’. Agreed resolutions are virtually demanded by the competing tensions within the legislative machinery. The need for conjunctivity of title from the exploration to the development stages is now understood and has become accepted by advocates for Native Title claimants. Recent court decisions would appear to ease the path for applications to the National Native Title Tribunal where negotiations fail to reach agreement, expanding the range of strategies open to Petroleum explorers seeking new title grants.Small negotiating teams facilitated progress. Despite a long first negotiation, subsequent negotiations have developed from that experience to form an efficient and cost-effective model which has now been replicated for more than 35 agreements conjunctive for all phases of activity. All those agreements address the key issues of title grants, both initially and consequently upon discoveries, Aboriginal heritage inspections and accommodation, including practical aides of indicative timelines and budgets for the latter, and compensation. Adaptation of these agreements is beginning in other parts of Australia. The temptation of Native Title advocates to test the envelope, however, must be expected with each new negotiation. Contrastingly, both the industry and state government agencies are seeking stabilisation of the terms of negotiated agreements to see how they will work in practice.This paper describes the key terms and temptations encountered so far in this evolving dynamic.
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Taylor, Linnet. "The price of certainty: How the politics of pandemic data demand an ethics of care." Big Data & Society 7, no. 2 (July 2020): 205395172094253. http://dx.doi.org/10.1177/2053951720942539.
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The Covid-19 pandemic broke on a world whose grip on epistemic trust was already in disarray. The first months of the pandemic saw many governments publicly performing reliance on epidemiological and modelling expertise in order to signal that data would be the basis for justifying whatever population-level measures of control were judged necessary. But comprehensive data has not become available, and instead scientists, policymakers and the public find themselves in a situation where policy inputs determine the data available and vice versa. This essay asks how we can live with what Amoore has termed ‘post-Cartesian doubt’ in situations of existential risk, and what kind of approach to science and data can answer the moral and human demands of a situation such as the Covid-19 pandemic. I suggest that science and policy could be able to control the pandemic better by addressing the sources of uncertainty and missing data not as gaps in the information landscape, but as individuals who are likely to be members of less-visible and less powerful groups including low-wage workers, the elderly, migrants, prisoners and others. This would shift both data use and policy toward an ethics of care, an embodied approach which asks what people need and how they behave in relation to each other, rather than how to manage population-level behaviour. This approach, I argue, is more appropriate for pandemic response than a utilitarian calculation of how many people each country should expect to lose as a result of the disease.
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Prasetyo, Henggar, R. Kartikasari, and Yani Pujiwati. "JUAL BELI RUMAH DINAS PT. PLN (PERSERO) DIHUBUNGKAN DENGAN ASAS KEPASTIAN HUKUM." Jurnal Poros Hukum Padjadjaran 2, no. 1 (November 30, 2020): 115–36. http://dx.doi.org/10.23920/jphp.v2i1.42.
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ABSTRAKPenghuni sebagai pembeli perlu memperoleh kepastian atas penyerahan hak milik rumah dinas sebagai kewajiban PT PLN (Persero) berdasarkan perjanjian sewa beli. Hal tersebut karena telah disepakati dalam perjanjian sewa beli dan telah diatur dalam peraturan perundang-undangan bahwa hak milik rumah dinas wajib diserahkan setelah harga dibayar oleh penghuni kepada PT PLN (Persero. Berdasarkan hal-hal tersebut, maka dapat diidentifikasi permasalahan sebagai berikut: Bagaimana pelaksanaan jual beli rumah dinas milik PT PLN (Persero) dihubungkan dengan asas kepastian hukum? dan Bagaimana perlindungan bagi pembeli atas penyerahan hak milik rumah dinas PT PLN (Persero) dihubungkan dengan asas kepastian hukum? Penelitian ini merupakan penelitian deskriptif analitis dengan pendekatan yuridis normatif. Data-data dalam penelitian ini berupa bahan hukum primer, sekunder dan tersier. Di dalam penelitian ini digunakan analisa data dilaksanakan dengan metode normatif kualitatif. Hasil penelitian menunjukkan bahwa jual beli rumah dinas dilaksanakan berdasarkan perjanjian yang dibuat berdasarkan perundang-undangan. Pembeli PT PLN (Persero) memiliki jaminan kepastian penyerahan hak milik berdasarkan alas hak yang timbul dengan telah dilaksanakannya pembayaran harga rumah dinas.
Kata kunci: jual beli; kepastian hukum; rumah dinas
ABSTRACTLegal occupants as buyers need to obtain certainty over the transfer of ownership rights to the official residence as an obligation of PT PLN (Persero) based on the lease and purchase agreement. This is because it has been agreed in the lease and purchase agreement and has been regulated in the laws and regulations that the property rights of the official residence must be submitted after the price is paid by the legal occupants to PT PLN (Persero. Based on these things, the following problems can be identified: How the implementation of the sale and purchase of official houses owned by PT PLN (Persero) is connected with the principle of legal certainty? and How is the protection for buyers of the transfer of property rights to the official residence of PT PLN (Persero) related to the principle of legal certainty? This research is a descriptive-analytical study with a normative juridical approach. The data in this study are in the form of primary, secondary, and tertiary legal materials. In this study, data analysis is carried out using a qualitative normative method. The results show that the sale and purchase of official houses are carried out based on agreements made based on legislation. PT PLN (Persero) has a guarantee of certainty of transfer of ownership rights based on rights arising from the payment of official housing prices.
Keywords: legal certainty; sales; official residence
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Ispriyarso, Budi. "Penggunaan Peraturan Bupati Untuk Mengatur Harga Tanah Dalam Pengenaan Bea Perolehan Hak Atas Tanah Dan Bangunan." Administrative Law and Governance Journal 1, no. 4 (December 5, 2018): 363–70. http://dx.doi.org/10.14710/alj.v1i4.363-370.
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Abstract This study aims to describe the use of regent regulations to regulate land prices in the Imposition of Fees for Acquisition of Land and Building Rights. This research is a normative legal research that uses the regulatory approach. the results showed that the use of District Regulation as a basis for setting land prices in the imposition of BPHTB in Kendal district, was a regulation made for the purpose of legal certainty about land prices, but from the juridical aspects, the regent regulation was not based on the delegation of authority in Kendal district regulation. Regulating BPHTB. Then the estimated price of land as regulated in Kendal Regulation No. 10 of 2017 is based on location criteria, namely Settlements, Agricultural Land, and Housing). And the estimated price of land which is regulated in Kendal Regulation Number 10 of 2017, functions as a comparison. Keywords: Land Prices. BPHTB, Land Tax. Abstrak Penelitian ini bertujuan untuk menguraikan Penggunaan Peraturan Bupati Untuk Mengatur Harga Tanah Dalam Pengenaan Bea Perolehan Hak Atas Tanah Dan Bangunan. Penelitian ini merupakan penelitian hukum normatif yang menggunakan pendekatan peraturan perundang undangan. hasil penelitian menunjukan bahwa Penggunaan Perbup sebagai dasar untuk menetapkan harga tanah dalam pengenaan BPHTB di kabupaten kendal, merupakan peraturan yang dibuat tujuan kepastian hukum tentang harga tanah, namun dari aspek yuridis peraturan bupati tersebut tidak didasarkan pada adanya delegasi kewenangan yang terdapat dalam Perda kabupaten Kendal yang mengatur BPHTB. Kemudian Perkiraan harga tanah yang diatur dalam Perbup Kendal Nomor 10 Tahun 2017 didasarkan pada kriteria lokasi yaitu Pemukiman, Tanah Pertanian dan Perumahan). Dan Perkiraan harga tanah yang diatur Dalam Perbup Kendal Nomor 10 Tahun 2017,berfungsi sebagai pembanding. Kata Kunci: Harga Tanah. BPHTB, Pajak Tanah.
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Luckstead, Jeff, and Stephen Devadoss. "Implications of Commodity Programs and Crop Insurance Policies for Wheat Producers." Journal of Agricultural and Applied Economics 51, no. 02 (March 4, 2019): 267–85. http://dx.doi.org/10.1017/aae.2018.32.
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AbstractWe analyze the effects of Price Loss Coverage (PLC), Agriculture Risk Coverage (ARC), individual revenue protection insurance (RP), and Supplemental Coverage Option (SCO) on the RP coverage level, certainty equivalent, and program payments. The model is calibrated to a representative wheat farm in Mitchell County in Kansas to analyze the effects of various policies. The result highlights that when insurance is framed as an investment, cumulative prospect theory predicts farmers’ coverage decisions accurately at 70%. ARC or PLC program increases the RP coverage level to 75%, but PLC and SCO jointly decrease the RP coverage level to 70%.
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Elizabeth, Roosganda, Giovanni Inez EM, and Geraldy Samuel Ivan. "AKSELERASI PENGEMBANGAN AGRIBISNIS, KELEMBAGAAN KEMITRAAN IMPLEMENTASI MEWUJUDKAN PENSEJAHTERAAN PETANI HORTIKULTURA." Mimbar Agribisnis: Jurnal Pemikiran Masyarakat Ilmiah Berwawasan Agribisnis 7, no. 2 (July 30, 2021): 1726. http://dx.doi.org/10.25157/ma.v7i2.5565.
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For farmers, the partnership relationship has great benefits, which are relatively stable with market certainty. While the benefits for partners are the certainty of obtaining raw materials in accordance with the required specifications. Using a qualitative description method, this paper aims to examine and present the conditions and institutional performance of the processing industry partnership in the marketing of horticultural products. Market certainty is the hope and main goal of farmers in pursuing each of their farming activities, in addition to obtaining maximum yields of course. Various agro-industry business actors, directly or indirectly in the procurement of raw materials, mostly still come from traders/suppliers. In a cooperative partnership relationship, farmer groups / farmer group associations are more burdened with obligations while their rights are still limited. The benefits of studying marketing partnership institutions and their development perspectives related to efforts to accelerate and implement agribusiness development to improve the welfare of their farmers, of course, are needed, especially as a liaison between farmers and users of their farm products. The perspective of partnership development is still very open, among others due to: (a) both parties obtain mutually beneficial benefits; (b) demand for processed products is increasing along with population growth. Institutional partnerships act as partners to market farm production in a wider and varied range. The partners are indicated to continue to provide the opportunity to sell to the free market if the price is better.
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den Boer, Arnoud V., and N. Bora Keskin. "Discontinuous Demand Functions: Estimation and Pricing." Management Science 66, no. 10 (October 2020): 4516–34. http://dx.doi.org/10.1287/mnsc.2019.3446.
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We consider a dynamic pricing problem with an unknown and discontinuous demand function. There is a seller who dynamically sets the price of a product over a multiperiod time horizon. The expected demand for the product is a piecewise continuous and parametric function of the charged price, allowing for possibly multiple discontinuity points. The seller initially knows neither the locations of the discontinuity points nor the parameters of the demand function but can infer them by observing stochastic demand realizations over time. We measure the seller’s performance by the revenue loss relative to a clairvoyant who knows the underlying demand function with certainty. We construct a dynamic estimation-and-pricing policy that accounts for demand discontinuities, derive the convergence rates of discontinuity- and parameter-estimation errors under this policy, and prove that it achieves near-optimal revenue performance. We also extend our analysis to the cases of time-varying demand discontinuities and inventory constraints. This paper was accepted by Noah Gans, stochastic models and simulation.
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ten Have, Simone Y., Konstantinos Gkiotsalitis, and Karst T. Geurs. "Investigating the Future of Ultrafast Charging: A Choice Experiment in the Netherlands." World Electric Vehicle Journal 11, no. 4 (November 7, 2020): 70. http://dx.doi.org/10.3390/wevj11040070.
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Ultrafast charging is developing and will soon be available to electric vehicles (EV). This research focuses on the feasibility of ultrafast charging for EV passenger cars in the Netherlands. We carried out a stated choice experiment with 311 respondents (all EV drivers) and developed mixed logit models based on random utility maximization. In deciding which charging type to choose, this research identified the charging point characteristics, price, proximity to shopping facilities, certainty of charging availability and not having to make a detour as key influential factors for EV drivers. Price changes and not having to make a detour substantially affect users’ choices for the charging types. Contrary to expectations, no significant results were found for urban density, age, technology awareness and importance of sustainability. Finally, the research results show that there is demand for ultrafast charging in the Netherlands even if users have to pay slightly more compared to other forms of charging.
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Lee, Changro. "PREDICTING LAND PRICES AND MEASURING UNCERTAINTY BY COMBINING SUPERVISED AND UNSUPERVISED LEARNING." International Journal of Strategic Property Management 25, no. 2 (February 23, 2021): 169–78. http://dx.doi.org/10.3846/ijspm.2021.14293.
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Despite the popularity deep learning has been gaining, measuring the uncertainty within the result has not met expectations in many deep learning applications and this includes property valuation. In real-world tasks, however, rather than simply requiring predictions, assurance of the certainty of the predictions is also demanded. In this study, supervised learning is combined with unsupervised learning to bridge this gap. A method based on principal component analysis, a popular tool of unsupervised learning, was developed and used to represent the uncertainty in property valuation. Then, a neural network, a representative algorithm to implement supervised learning, was constructed, and trained to predict land prices. Finally, the uncertainty that was measured using principal component analysis was incorporated into the price predicted by the neural network. This hybrid approach is shown to be likely to improve the credibility of the valuation work. The findings of this study are expected to generate interest in the integration of the two learning approaches, thereby promoting the rapid adoption of deep learning tools in the property valuation industry.
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Roostita, L. B., and H. A. W. Lengkey. "Determination of pork adulteration in meatballs using enzyme linked immuno sorbent assay (ELISA) techniques case study: Small medium enterprises meatballs traders at Jatinangor education area, sumedang district, west java, indonesia." Biotehnologija u stocarstvu 30, no. 2 (2014): 289–93. http://dx.doi.org/10.2298/bah1402289r.
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Adulteration of meatballs using pork begins to bloom in a row with the increase of beef price in the market. There is a risk that can occur around the education area of Jatinangor. Therefore the identification of meatballs adulteration with enzymes linked immuno sorbent assay (ELISA) approach need to be done in order to create certainty and security guarantee of the consumed products. Results showed that Small Medium Enterprises (SMEs) in Jatinangor who process meat (meatballs) was 21 meatball traders around Jatinangor. ELISA tests on 21 meatball samples taken from the SMEs merchant in Jatinangor showed no pork-adulterated meatballs on all of the samples tested.
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Cheung, Stephen L. "Comment on “Risk Preferences Are Not Time Preferences”: On the Elicitation of Time Preference under Conditions of Risk." American Economic Review 105, no. 7 (July 1, 2015): 2242–60. http://dx.doi.org/10.1257/aer.20120946.
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Andreoni and Sprenger (2012a, b) report evidence that distinct utility functions govern choices under certainty and risk. I investigate the robustness of this result to the experimental design. I find that the effect disappears completely when a multiple price list instrument is used instead of a convex time budget design. Alternatively, the effect is reduced by half when sooner and later payment risks are realized using a single lottery instead of two independent lotteries. The result is thus at least partially driven by intertemporal diversification, supporting an explanation in terms of concavity of the intertemporal, and not only atemporal, utility function. (JEL C91, D81, D91)