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1
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.
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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.
2
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.
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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.
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Jankovics, Peter. "LONG -TERM CHANGES OF MAIN INPUT -OUTPUT PRICES IN THE HUNGARIAN BROILER SECTOR." Annals of the Polish Association of Agricultural and Agribusiness Economists XX, no. 1 (April 4, 2018): 50–57. http://dx.doi.org/10.5604/01.3001.0011.7228.
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The article presents changes of the main input-output prices in the Hungarian broiler industry over a period of 30 years, and associated correlations. For the processing of long-term data, a linear regression function, correlation and regression analysis were used. The cereal prices correlate and their changes also correspond with a change in compound feed prices. A close correlation can be found between cereal price and broiler price, whilst the correlation shown between the compound feed price and broiler price is very close. During the examined period, the feed prices increased at a higher rate than the broiler price. It was also established that the current feed and energy price significantly affect day-old chick prices which corresponds with an increase in price of the broiler. Furthermore, a close relation can be found between energy and feed compound prices.
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Xue, Huidan, Chenguang Li, Liming Wang, and Wen-Hao Su. "Spatial Price Transmission and Price Dynamics of Global Butter Export Market under Economic Shocks." Sustainability 13, no. 16 (August 19, 2021): 9297. http://dx.doi.org/10.3390/su13169297.
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Recently, the world has experienced striking economic and policy changes, and subsequent uncertainties have impacts on dairy trade price fluctuations. The Global Vector Autoregressive (GVAR) methodology was established in this paper to better understand international butter export prices transmission, the feedback between the economic context changes and price fluctuations, and the link between the global butter market, energy market, and other commodity markets. We assessed which key factors are typically associated with butter export price movements with regards to shocks to crude oil price, palm oil price, farm-gate raw milk price, exchange rates, and consumer price index (CPI) for food of the EU, New Zealand, the U.S., and the rest of world (RoW), respectively. Using generalized impulse response functions, this study found that decreases in farm-gate raw milk price could be swiftly transmitted to butter export prices of not only a home country but other foreign countries. However, palm oil price and crude oil price merely affects global butter export prices. We also found that U.S. dollar depreciations against the Euro will cause a decline in U.S. butter export price. It is concluded that butter export markets are not well-integrated, yet butter export prices of New Zealand and the U.S. are highly linked.
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Christandl, Fabian, and Tommy Gärling. "The Accuracy of Consumers’ Perception of Future Inflationary Price Changes." Zeitschrift für Psychologie 219, no. 4 (January 2011): 209–16. http://dx.doi.org/10.1027/2151-2604/a000074.
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Four laboratory experiments were conducted to investigate the extent to which and how consumers encountering inflationary increases in product prices are able to accurately extrapolate future price increases. Between 32 and 48 undergraduates participated in the different experiments. In Experiment 1 it was found that participants were more able to extrapolate a proportional increase when presented with two consecutive proportional price increases compared to one price increase. This finding was not replicated for decreasing prices in Experiment 2. Experiment 3 showed that varying the time interval between prices counteracted an accurate extrapolation of proportional price increases despite that two price increases were presented. In Experiment 4 it was found that presenting the same (vs. different) proportional price increases for two products made participants able to extrapolate the common proportional price increase.
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DR. PRAFULLA K. DAS. "PRICE BEHAVIOUR IN INDIA'S COCONUT SECTOR." CORD 7, no. 01 (June 1, 1991): 34. http://dx.doi.org/10.37833/cord.v7i01.246.
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Coconut being a smallholder perennial crop, studies on the price behaviour of its products require serious consideration. A cursory look into the price structures of coconut, copra and coconut oil reveal that the price fluctuations are not only infrequent, but also most violent. The seasonal indices show different patterns for different products.
The Compound Growth Rates of wholesale prices for coconut products are found to be around 10 per cent per annum between 1970 and 1989. The indices however suggest that the relative prices in coconut sector are declining even though the absolute prices show significant growths. The correlation coefficients (r) between wholesale prices of coconut products are assessed as, 0.99. The analysis of price behaviours in the important coconut product markets further reveals that those markets are highly competitive.
Attempts have been made to predict the prices of copra with the use of coconut oil prices; and the prices of coconut with the use of prices of either copra or coconut oil in the same market or in different markets. The prediction models are found out to be very good fit with the value of r2 ranging between 0.98 and 0.99.
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Baek, Jungho. "Price linkages in the North American softwood lumber market." Canadian Journal of Forest Research 36, no. 6 (June 1, 2006): 1527–35. http://dx.doi.org/10.1139/x06-043.
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This paper examines structural changes and the dynamics of price relationships in the United States (US), British Columbia, Quebec, and Ontario lumber markets. With monthly price series from 1981 to 2002, I used Perron's method to identify structural shifts and the Johansen cointegration analysis and vector-error correction model to determine both short- and long-run price relationships. I found that because of restrictions on federal timber harvests in the Pacific Northwest, price instability experienced in 1992 has caused structural shifts for the US and Canadian lumber prices. I also found that the North American lumber market is indeed integrated, with the US price significantly affecting Canadian prices in both the short and long run. This further indicates that the US market plays a dominant role in price setting in the North American lumber market, as Canadian prices respond to the US price change, but the reverse situation does not occur.
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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.
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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.
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Virbickas, Ernestas. "PRICE SETTING IN LITHUANIA: MORE EVIDENCE FROM THE SURVEY OF FIRMS." Ekonomika 90, no. 4 (January 1, 2011): 76–99. http://dx.doi.org/10.15388/ekon.2011.0.923.
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The article examines price setting in Lithuania, based on the ad hoc survey “On Price and Wage Setting” of the Bank of Lithuania. The study extends the survey data analysis presented in Virbickas (2009). The article points to the incidence of both time-dependent and state-dependent price reviewing policies used by the firms under study, though the price reviewing practices appear to be somewhat tilted to the state-dependent pricing. Analysis provides evidence on the reasons for the upward and downward stickiness of prices. Delayed price adjustment is found to be related to the price adjustment rather than the price reviewing stage. The most momentous explanations for not adjusting prices upwards or downwards rest on the cost-based pricing and the explicit contracts. The study finds an asymmetric influence of some of the price factors. In particular, the cost factors are found to be decisive in invoking a price increase rather than a price decrease.
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Salassi, Michael E. "The Responsiveness of U.S. Rice Acreage to Price and Production Costs." Journal of Agricultural and Applied Economics 27, no. 2 (December 1995): 386–99. http://dx.doi.org/10.1017/s1074070800028443.
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AbstractOrdinary least squares and seemingly unrelated regression procedures were used to analyze the impacts of changes in rice prices and production costs on U.S. rice planted acreage. National and regional response models were estimated over the 1970-92 period. Supply-inducing prices of rice were estimated as a function of effective rice support prices and seasonal average market prices. Expected production costs per acre were estimated using lagged actual total variable cash production expenses per acre adjusted by the previous 3-year average annual change in variable expenses. Estimated short-run price and production cost elasticities were found to be inelastic at the national level. However, the magnitude of the production cost elasticities were found to be greater than the price elasticities. Estimated long-run elasticities at the U.S. level were inelastic for changes in price but elastic for changes in production costs. Although acreage response varied across regions, similar relationships were found between price and production cost elasticities.
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Adams, Charles M., Fred J. Prochaska, and Thomas H. Spreen. "Price Determination in the U.S. Shrimp Market." Journal of Agricultural and Applied Economics 19, no. 2 (December 1987): 103–11. http://dx.doi.org/10.1017/s0081305200025371.
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AbstractThe monthly and quarterly price determination processes for 31–40 and 21–25 size classes of raw-headless shrimp were examined to determine price leadership between market levels. Causal relationships were assessed using Haugh-Pierce, Sims, and Granger methods. Price models at the retail, wholesale, and exvessel market levels were estimated. Economic factors analyzed were income, prices of competing products, landings and imports of raw headless shrimp, total retail supply, beginning stocks, and marketing costs.Monthly prices generally exhibited unidirectional causality from exvessel to retail price. Quarterly prices were determined interdependently among market levels. Price responses between market levels were found to be symmetric with beginning stocks, landings, and imports of own-size shrimp the most important determinants of price.
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Granlund, David, and Miyase Yesim Köksal-Ayhan. "EU Enlargement, Parallel Trade and Price Competition in Pharmaceuticals: Has the Price Competition increased?" B.E. Journal of Economic Analysis & Policy 16, no. 2 (April 1, 2016): 1069–92. http://dx.doi.org/10.1515/bejeap-2015-0127.
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Abstract Given the cost of trade and availability of pharmaceuticals, the driving force for parallel trade is the price difference between the source (exporting) and the destination (importing) country. An increase in the price difference or in the availability of pharmaceuticals for parallel trade should increase price competition in the destination country. Using 2003–2007 data from Sweden we investigated whether EU enlargement in 2004, when new countries with low pharmaceutical prices joined the EU, increased competition from parallel imports. Drugs facing competition from parallel imports are found to have on average 19–22% lower prices than they would have had if they had never faced such competition. The EU enlargement is, however, not found to have increased this effect, which might be explained by derogations and changes in consumer perceptions of parallel imports.
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Liang, Wai Ki, and David Corkindale. "How eWord of Mouth valences affect price perceptions." International Journal of Market Research 61, no. 1 (July 19, 2018): 50–63. http://dx.doi.org/10.1177/1470785318788469.
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The influence of electronic Word of Mouth (eWOM) on consumers’ perceptions of price, allowing for consumers having different price acceptability levels, was examined through nine online experiments. Three valences of eWOM were systematically examined: positive, negative, and inconsistent, that is, both positive and negative present in the word-of-mouth communication. When contemplating making a purchase of an item, consumers have ranges of prices that would be acceptable. It was found that eWOM was more influential on consumers’ price perceptions than the advertised price for all price acceptability levels. However, the price perception of an item was found to be less acceptable when eWOM was inconsistent compared to when eWOM was absent or was positive. Inconsistent eWOM had a negative effect on price perceptions but not as great as that when negative eWOM was present and this was consistently found to apply for all price acceptability levels. The market context for the experiments was that of a tourism service, a Group Package Tour in Japan. We present the study’s implications for practitioners in this type of market, as well as the contribution to the research literature on word-of-mouth influence on consumer response to prices.
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Shin, Dong Hoon, and Seon Hyeon Kim. "A Study on the Causal Relationship between Spot Price and Futures Price of Crude Oil and Agricultural Products." International Journal for Innovation Education and Research 8, no. 5 (May 1, 2020): 296–315. http://dx.doi.org/10.31686/ijier.vol8.iss5.2345.
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This paper studies the relationship between the agricultural, energy, and derivatives markets. This study empirically analyzes how the results of previous studies on the Granger causality between oil price and the spot price of agricultural products appear in the futures market by using the Toda and Yamamoto (1995)’ causality test. There are two main findings. First, 7 bidirectional causalities and 27 causalities between oil and 6 agricultural products are found, providing strong evidence of a causal relationship. Second, causality is found between oil prices and grain and oilseed type agricultural products, and the spot price of oil has relatively more causalities on agricultural product prices than the futures price of oil. Lastly, testing each period shows that a financial crisis can strengthen the relationship between the agriculture markets and the energy markets
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Antonova, Anastasiia. "Price-Setting in Ukraine: Evidence from Online Prices." Visnyk of the National Bank of Ukraine, no. 248 (June 30, 2019): 4–10. http://dx.doi.org/10.26531/vnbu2019.248.01.
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This study examines price duration and price-setting mechanisms in Ukraine using web-scraped prices. I found that the mean average duration of prices is about 2 months. Average price duration is lower for those products that are more exposed to temporary price changes (sales). Moreover, imported goods have a higher average price duration compared to domestic goods. In terms of the price-setting mechanism, the data supports timedependent price setting behavior over state-dependent. The evidence of time-dependent price setting is 1) the size of price change being positively related to the age of price; 2) many price changes of a size close to zero; and 3) the hazard function being non-increasing for the whole sample and tends to be flatter within relatively homogeneous groups of products.
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Dong, Xiaoxia, Colin Brown, Scott Waldron, and Jing Zhang. "Asymmetric price transmission in the Chinese pork and pig market." British Food Journal 120, no. 1 (January 2, 2018): 120–32. http://dx.doi.org/10.1108/bfj-02-2017-0056.
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Purpose The purpose of this paper is to analyze price transmission in the Chinese pork market between 1994 and 2016 and examine any incidence and causes of asymmetric price transmission. Design/methodology/approach The approach uses threshold autoregressive models, asymmetric error correction models and autoregressive moving average models to examine the price transmission using monthly pig and pork prices from 1994 to 2016. Findings While a symmetric price transmission between pork and pig prices was identified for the period between June 1994 and June 2007, an asymmetric price transmission response between pork and pig prices was found for the period July 2007 to June 2016. Key factors behind the asymmetric price transmission include the chicken price and China’s provisional purchasing and stockpiling policy which is having a counter-productive impact on prices. Originality/value The paper contributes to the literature by examining price transmission in two different periods: 1994 to 2007 where prices are lower and more stable; and 2007 to 2016 where prices are higher and volatile. The paper examines the impact of production and market policies on price transmission in the Chinese pork and pig market, with several policy implications.
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Kumar, Narendra, Alisha Abbas, Akhlaque Ahmad, Reshma Choudhary, Arpan Ganguly, and Rakesh Kumar Dixit. "Cost comparison of commonly used antidepressant drugs with drug price control order in India." International Journal of Basic & Clinical Pharmacology 9, no. 1 (December 24, 2019): 186. http://dx.doi.org/10.18203/2319-2003.ijbcp20195784.
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Background: Price of a drug is an important factor for compliance to the treatment. So, to overcome the high prices of drugs, National Pharmaceutical Pricing Authority (NPPA) under government of India has issued Drug Price Control Order (DPCO) list containing commonly used drugs. Pharmaceutical companies can be punished if they keep their prices higher than the ceiling price mentioned in the DPCO. To find out the price variations of commonly used antidepressant drugs included in DPCO list of 29th April 2019.Methods: A list of all oral antidepressant drugs included in DPCO of 29th April 2019 and available in Indian market was procured from medguide India. Analysis of number of total brands following as well as not following DPCO ceiling price was done.Results: Author found 17 formulations of four antidepressant drugs included in DPCO. Total 556 brands found out of which 84.6% were following the DPCO and 15.4% of brands prices were higher than the ceiling price of DPCO.Conclusions: Though large number of companies are following the DPCO but still strict regulation is needed to further increase the compliance of guidelines.
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Songsiengchai, Patchaya, Shaufique F. Sidique, Marcel Djama, and W. N. W. Azman-Saini. "A cointegration analysis of crude palm oil price in Thailand." E3S Web of Conferences 52 (2018): 00035. http://dx.doi.org/10.1051/e3sconf/20185200035.
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Reliazing the pass-through effects of global commodity prices on domestic prices, this study develops a vector error correction model (VECM) to test for the determinants and direction of causality between global prices and crude palm oil (CPO) price in Thailand. Malaysian crude palm oil, world soybean oil and world crude oil prices were investigated as factors affecting the Thai CPO price. Using the Johansen cointegration test, the result unveils a presence of long-run relationship among the determinants. This long-run relationship, proposes that CPO price flows in Thailand are positively influenced by the Malaysian CPO price and the error correction term suggests that approximately 35 percent of total disequilibrium in Thai CPO price was corrected in the following month. Moreover, the findings show Granger causality from each of the Malaysian CPO price and the world soybean oil price for the Thai CPO price. Information flow regarding the price movements of the Malaysian CPO and soybean oil affect the Thai CPO price and vice-versa. Whereas, the evidence for a causal relationship that runs from the world crude oil price to the Thai CPO price is found, but not in reverse.
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Xue, Huidan, Chenguang Li, and Liming Wang. "Spatial Price Dynamics and Asymmetric Price Transmission in Skim Milk Powder International Trade: Evidence from Export Prices for New Zealand and Ireland." Agriculture 11, no. 9 (September 8, 2021): 860. http://dx.doi.org/10.3390/agriculture11090860.
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A fast-changing global landscape highlights the importance of understanding spatial price dynamics in key international markets such as China, especially in the era of COVID-19 pandemic with international food trade and food system experiencing an unprecedented challenge. Nowadays, New Zealand’s dominant position in China’s dairy import market is being challenged by European Union (EU) dairy exporters leading to intensified market competition. Using monthly export data of skim milk powder (SMP), we applied threshold cointegration models along with asymmetric error correction models to examine spatial price dynamics and price transmissions of New Zealand and Ireland in Chinese and global markets. We found that New Zealand’s export prices retain their leadership position in China, Ireland’s export prices are well more aligned with those in international markets. In terms of own-country price transmission, Ireland’s relatively symmetric and swift adjustments were found to contrast with New Zealand’s SMP export prices, which displayed more asymmetric price transmissions.
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Bala, Umar, and Lee Chin. "Asymmetric Impacts of Oil Price on Inflation: An Empirical Study of African OPEC Member Countries." Energies 11, no. 11 (November 2, 2018): 3017. http://dx.doi.org/10.3390/en11113017.
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This study investigates the asymmetric impacts of oil price changes on inflation in Algeria, Angola, Libya, and Nigeria. Three different kinds of oil price data were applied in this study: the actual spot oil price of individual countries, the OPEC reference basket oil price, and an average of the Brent, WTI, and Dubai oil price. Autoregressive distributed lag (ARDL) dynamic panels were used to estimate the short- and long-term impacts. Also, we partitioned the oil price into positive and negative changes to capture asymmetric impacts and found that both the positive and negative oil price changes positively influenced inflation. However, the impact was found to be more significant when the oil prices dropped. We also found that the money supply, the exchange rate, and the gross domestic product (GDP) are positively related to inflation, while food production is negatively related to inflation. Accordingly, policy-makers should be cautious when formulating policies between the positive and negative changes in oil prices, as it was shown that inflation increased when the oil price dropped. Additionally, the use of a contractionary monetary policy would help to reduce the inflation rate. Lastly, we suggest that the government should encourage domestic food production, both in quantity and quality, to reduce inflation.
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Rodriguez-Feijoo, Santiago, Alejandro Rodriguez-Caro, and Carlos Gonzalez-Correa. "Fruit and Vegetable Prices and Perceptions in Mercalaspalmas Wholesale Market." Innovar 25, no. 55 (January 1, 2015): 145–55. http://dx.doi.org/10.15446/innovar.v25n55.47230.
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This paper studies the behavior of fruit and vegetable prices in a wholesale market. Its aims are: a) to examine price behavior and changes; and b) to identify statistically significant factors in the perception of prices and to quantify the effect of these factors on the market price. For this purpose, daily data were obtained on modal prices at the Mercalaspalmas wholesale market from 2006 until mid-2010. The results obtained show there is a similar degree of flexibility in price increases and decreases, and show the product to be the determinant element in setting prices. There was found to be a strong degree of price permanence, in the sense that changes take place slowly and following a lag. The following significant factors were identified in the perception of prices: the length of time a price has remained unchanged in the market; the period during which a product has been absent from the market; the quantities traded at a given price; and the index of market prices. However, the quantitative effect of this body of factors on the perceived price is very limited.
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Lass, Daniel A., Mawunyo Adanu, and P. Geoffrey Allen. "Impacts of the Northeast Dairy Compact on New England Retail Prices." Agricultural and Resource Economics Review 30, no. 1 (April 2001): 83–92. http://dx.doi.org/10.1017/s1068280500000575.
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Northeast Dairy Compact impacts were estimated for Boston and Hartford retail prices using an econometric model. Asymmetric speeds of adjustment to farm price increases and decreases were found; however, tests indicated that retail prices do return to the same level following equal farm price increases and decreases. Model forecasts suggested no structural changes occurred during the out-of-sample period, July 1996 through June 1998. Simulations with and without the Compact predicted lower retail fluid milk price impacts than actual July 1997 changes. These predicted impacts separate the effects of farm price changes on retail prices from possibly confounding effects.
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Sriram, M., and M. Senthil. "Market Efficiency and Volatility Spill over in Spot & Futures Currency Market." International Journal of Management Excellence 1, no. 3 (August 31, 2013): 45–53. http://dx.doi.org/10.17722/ijme.v1i3.16.
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The present study has analysed the long term relationship between spot and future prices of currency (dollar) for the period of study between 01/06/2009 and 10/07/2013. The spot and future prices of the currency is found to have long term relationship which is supported by the existence of an error correction mechanism called arbitrage. The error correction mechanism restores the equilibrium relationship whenever disequilibrium takes place between the two markets. It is the spot price which corrects the disequilibrium in the market. The study also finds the presence of unidirectional causality in the currency market wherein the spot causes the future. Using Impulse response function,it is found that significant and higher response of future price to the spot price shocks of dollar and also Volatility spill over was from the spot price to the future price whereas, there was no evidence of volatility spill over from future to spot price.
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Herbert, John H. "Do Changes in Natural Gas Futures Prices Influence Changes in Natural Gas Spot Prices?" Energy Exploration & Exploitation 11, no. 5 (October 1993): 467–72. http://dx.doi.org/10.1177/014459879301100506.
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Data on natural gas futures and spot markets are examined to determine if variability in price on futures markets influences variability in price on spot markets. Using econometric techniques, it is found that changes in futures contract prices do not precede changes in spot market prices.
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Kim, Leeyoung, and Wonseok Seo. "Micro-Analysis of Price Spillover Effect among Regional Housing Submarkets in Korea: Evidence from the Seoul Metropolitan Area." Land 10, no. 8 (August 21, 2021): 879. http://dx.doi.org/10.3390/land10080879.
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This study examined the price spillover effect of housing submarkets in cities in the Seoul metropolitan area in South Korea by using the Granger causality test and vector autoregressive model (VAR). We found that housing prices showed a higher spillover effect within regions with similar housing market characteristics. Additionally, the spatial spillover of housing prices revealed a difference between sales price and jeonse price. The spillover of jeonse price was characterized by mutual influence among neighboring cities, while that of sales price was characterized by the influence being transferred in one direction hierarchically. Furthermore, the effects of housing price indicated a slight difference between sales price and jeonse price. Although jeonse price was mainly affected by a neighboring area (geographic boundary), sales price was more influenced by the city with the highest housing prices. Lastly, the housing price spillover tended to be expansive around the city with the highest price. These results suggest that housing price policies targeting specific regions or areas in Korea must be differentiated according to the type of occupancy (jeonse or sales), and it is essential to consider the externalities when promoting policies in the housing market wherein externalities may be significant.
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Shrestha, Mani Raj. "Monetary Policy and Stock Price Dynamics in Nepal." Journal of Business and Management Research 3, no. 1-2 (October 30, 2020): 18–38. http://dx.doi.org/10.3126/jbmr.v3i1.31972.
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Monetary authorities are attentive towards stock price movement because of its significance in financial stability. Though stock price is one of the major channels of monetary transmission, very little is known about it in Nepali context. This study analyzed monetary variables, stock prices, and monetary policy goals using time series data. Results from Koyck approach to distributed lags, vector autoregression and mediation analysis revealed mixed evidence of causality between monetary policy and stock prices. Though results were not consistent across different econometric analysis, inter-bank interest rate, narrow money supply, broad money supply, monetary policy announcement, and monetary policy stances were found to be significant in explaining stock prices. Furthermore, causality also existed from stock prices to monetary policy, suggesting that monetary authorities also consider development in stock prices while formulating monetary policies. However, stock prices had not been found to mediate the relationship between monetary policy variables and monetary policy goals, which questioned stock prices being a channel of monetary policy transmission in Nepal.
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Kalwani, Manohar U., and Chi Kin Yim. "Consumer Price and Promotion Expectations: An Experimental Study." Journal of Marketing Research 29, no. 1 (February 1992): 90–100. http://dx.doi.org/10.1177/002224379202900108.
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The authors report results from a controlled experiment designed to investigate the impact of a brand's price promotion frequency and the depth of promotional price discounts on the price consumers expect to pay for that brand. A key feature of the work is that expected prices elicited directly from respondents in the experiment are used in the analysis, as opposed to the latent or surrogate measures of expected prices used in previous studies. As hypothesized, both the promotion frequency and the depth of price discounts are found to have a significant impact on price expectations. Evidence also supports a region of relative price insensitivity around the expected price, such that only price changes outside that region have a significant impact on consumer brand choice. Further, the authors find that consumer expectations of both price and promotional activities should be considered in explaining consumer brand choice behavior. Specifically, the presence of a promotional deal when one is not expected or the absence of a promotional deal when one is expected may have a significant impact on consumer brand choice. Finally, as in the case of price expectations, consumer response to promotion expectations is found to be asymmetric in that losses loom larger than gains.
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Elmanisa, Adisti Madella, An An Kartiva, Alfaret Fernando, Rama Arianto, Haryo Winarso, and Denny Zulkaidi. "LAND PRICE MAPPING OF JABODETABEK, INDONESIA." Geoplanning: Journal of Geomatics and Planning 4, no. 1 (December 23, 2016): 53. http://dx.doi.org/10.14710/geoplanning.4.1.53-62.
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Land provision is one of the biggest challenges for development in urban area. Most of the available urban land will be the object of speculation to be resold at a higher price when the time is right. In Jabodetabek, where the pace of urban development is faster than other parts of Indonesia, the prices of land show an abnormal increase; they seem to rise too fast. This paper discusses the increasing land prices in Jabodetabek area and argues that the increasing land price has encourages the private developer to bank the land in the area. Based on land price survey in Jabodetabek, urban activity is moving to south Jakarta. The highest land prices were found at East Kuningan, Setiabudi, and South Jakarta. By constrast, the lowest prices were observed in Sumur Batu and Cimuning (Bantar Gebang, Bekasi).It can be concluded that the land price increase also triggered land banking practice in Jabodetabek reaching in total approximately 60% of total area of Jakarta.
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Singh, Sanjay Kumar, Mukesh Kumar Jain, and Shoeba. "Information Spillover in Indian Agricultural Commodities Market." Asia-Pacific Journal of Management Research and Innovation 16, no. 3 (September 2020): 179–87. http://dx.doi.org/10.1177/2319510x21994048.
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Role of agricultural sector in Indian economy is prominent, as being an agrarian economy and having the second highest population in the world. Thus, the efficiency of this sector is the foremost factor for development and growth of the economy. This article attempts to examine the price discovery relationship of future and spot prices of five agricultural commodities, namely cardamom, crude palm oil, cotton, mentha oil and kapas, during the period 2011–2019. Johansen’s co-integration test, vector error correction model (VECM) and Granger causality block exogeneity test were employed for the study. We found that price discovery process is established for agricultural commodities under consideration. Future prices act as a leader in achieving long-run equilibrium for all commodities except cardamom. Causality was significantly reported for all commodities, as bidirectional causality runs between the prices. The study suggests that Forward Market Commission should be empowered more to control and regulate the market, which will ensure the efficient market situations in these commodities’ market. Attempt was made to evaluate price discovery process in agricultural commodities market during post sub-prime crisis period, which was ignored by majority of researchers.
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Zou, Hao, Jin Qin, Peng Yang, and Bo Dai. "A Coordinated Revenue-Sharing Model for a Sustainable Closed-Loop Supply Chain." Sustainability 10, no. 9 (September 7, 2018): 3198. http://dx.doi.org/10.3390/su10093198.
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This study takes a sustainable closed-loop supply chain composed of one manufacturer and two price-competitive retailers as the object and considers the two-way risk aversion characteristics of manufacturers and retailers in examining the coordination mechanism in a closed-loop supply chain. Using game theory, optimal decision-making on wholesale prices, retail prices, and recycling prices are explored under decentralized and centralized decision-making scenarios, and representative expressions are established. By analyzing the effects of the risk aversion coefficient on players’ optimal strategies, we found that the manufacturer’s and retailers’ risk aversion coefficients have different effects on the wholesale price, retail price, and recycling price under decentralized decision-making, while in a centralized decision-making scenario, the effects are the same. The comparison also found that the wholesale price and recovery price under the centralized decision-making scenario are higher than those under decentralized decision-making. To achieve closed-loop supply chain coordination, we propose a revenue-sharing contract that we demonstrate by coordinating price competition with risk aversion and analyze a range of parameters that influence the revenue-sharing contract. The results show that the proposed contract can increase the profits of supply chain members by identifying the optimal revenue-sharing ratio.
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Rachmi, Nur Habbibah. "Harga: Balutan Tradisi." Journal Competency of Business 4, no. 1 (July 6, 2020): 44–52. http://dx.doi.org/10.47200/jcob.v4i1.680.
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The purpose of this study is to reveal the meaning of prices implemented through the tradition of the Gresik community. This research is a qualitative study using a phenomenological approach, data collected through interviews and informant observation. The results of the study found three meanings of prices, the first price as an effort to establish faith, the second price as a form of togetherness, the third price is not material. The existence of cultural values seems to dismiss the notion that states if the price is closely related to the material and profits
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Stockton, Matthew C. "Impacts of Sample Size and Quality-Adjusted Imputed Prices on Own-Price Elasticities Estimated Using Cross-Sectional Data." Journal of Agricultural and Applied Economics 35, no. 2 (August 2003): 415–21. http://dx.doi.org/10.1017/s1074070800021374.
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Cross-sectional data sets containing expenditure and quantity information are typically used to calculate quality-adjusted imputed prices. Do sample size and quality adjustment of price statistically alter estimates for own-price elasticities? This paper employs a data set pertaining to three food categories—pork, cheese, and food away from home—with four sample sizes for each food category. Twelve sample sizes were used for both adjusted and unadjusted prices to derive elasticities. No statistical differences were found between own-price elasticities among sample sizes. However, elasticities that were based on adjusted price imputations were significantly different from those that were based on unadjusted prices.
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Smith, T. A., C. L. Huang, and B. H. Lin. "Estimating organic premiums in the US fluid milk market." Renewable Agriculture and Food Systems 24, no. 3 (July 30, 2009): 197–204. http://dx.doi.org/10.1017/s1742170509002579.
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AbstractUsing actual retail purchases from the 2006 Nielsen Homescan panel data, we estimate a hedonic model on price premiums and discounts associated with household characteristics, market factors, and product attributes focusing on the organic attribute for fluid milk. The organic attribute carries a significant price premium, which is largest of all product attributes considered in this study. Further, additional price variations among organic milk are observed for differences in fat content, container size and branding. Specifically, the results suggest that organic price premiums for half-gallon milk range from $1.23 for whole private label organic milk (60–68% above conventional counterpart) to $1.86 for nonfat/skim-branded organic milk (89–109% above conventional counterpart). The study also found that milk sold in a discount store (i.e., supercenter or club warehouse) was price 13 cents per half gallon, or 7.4%, below milk sold through other venues, and that milk on sale was priced 26 cents per half gallon, or 14.3%, less than the regular average price. Although household characteristics exert little influence on price relative to product attributes and market factors, the study does find that unmarried households and those with children under six pay slightly higher prices for milk, possibly due to time constraints.
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Saleerut, Sriwena, Chalermpon Jatuporn, Vasu Suvanvihok, and Apinya Wanaset. "Price Adjustment of Oil Palm and Palm Oil in Thailand to the World Price of the Palm Oil Market." Asian Journal of Agriculture and Rural Development 10, no. 2 (September 4, 2020): 690–97. http://dx.doi.org/10.18488/journal.ajard.2020.102.690.697.
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The objectives of this study are to analyze: (1) the effects from the change of palm oil price in the world market to the prices of oil palm and palm oil in Thailand, and (2) the adjustment of oil palm and palm oil prices in Thailand to the change of the price of palm oil in the world market using monthly time series from January 2008 to September 2019. The statistics consist of the stationary test using the ADF unit root, the long-run equilibrium test using the cointegration, and the short-run adjustment to the equilibrium using the error correction model, respectively. The empirical findings show that farm-gate price is the most affected by the change of palm oil price in the world market, followed by wholesale, export, and retail prices, respectively. In line with the adjustment of the prices of oil palm and palm oil in Thailand to the change in the world palm oil price, it is found that farm-gate price has adjusted in the short-term to return the equilibrium with the highest speed at 27.883%, followed by wholesale price 22.710%, exporting price 18.792%, and retail price 15.658%, respectively.
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Kopytets, Nataliia. "Analysis of the price situation in the cattle meat market." Ekonomika APK 313, no. 11 (November 27, 2020): 52–59. http://dx.doi.org/10.32317/2221-1055.202011052.
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The purpose of the article is to investigate the current price situation in the cattle meat market, taking into account the peculiarities of the beef price chain “production – processing –trade – consumer”. Research methods. The following methods have been used in the research process: abstract and logical, system analysis – for generalize theoretical positions, formulating conclusions; comparative analysis – for compare indicators and identify trends in their change over time; statistical – for assessing the cattle meat market; tabular – for visual representation of the research results; monographic – for detailing the price situation in the beef market; graphic – for identify and illustrate the trends of the research economic phenomena. Research results. An analysis of the price situation in the cattle meat market with details of individual species priced in dif-ferent areas of the country. Trends and regularities of dynamics of prices for cattle and products of processing in wholesale and retail trade are estimated. There is a clear tendency of annual increase in prices for cattle meat market in Ukraine during 2017-2020. It was found that the increase in purchase prices for young cattle causes an increase in wholesale and retail prices for various types of meat. It is justified that the price is important to all cattle meat market participants. The level of prices affects the efficiency of both individual producers and the development of the economy of any country. Prices clearly reflect the processes of production, exchange, distribution and consumption. Scientific novelty. It is specified that under the conditions of low purchasing power of most of the population of Ukraine, the actual retail prices for beef and veal within the trade network are quite high and do not contribute to the growth of demand for this type of meat. Practical significance. The research results can be useful for all participants in the food chain “production – processing – distribution – consumption” of the cattle market. Tabl.: 1. Figs.: 1. Refs.: 23.
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Hulland, John, Honorio S. Todiño, and Donald J. Lecraw. "Country-of-Origin Effects on Sellers’ Price Premiums in Competitive Philippine Markets." Journal of International Marketing 4, no. 1 (March 1996): 57–79. http://dx.doi.org/10.1177/1069031x9600400105.
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Data collected from highly competitive markets in the Philippines were used to investigate how country-of-origin (CO) information influenced the prices set for a wide range of products. The data permitted direct comparisons between prices for the same product produced by the same company, but in different countries, and sold in adjacent markets. Imported products produced in more industrialized countries were found to command price premiums over the same product, produced by the same company in less industrialized countries. However, imports from all countries commanded significant price premiums over domestically produced products. Consistent with previous research, branding was found to moderate the effect of CO information on price. Finally, CO information had a stronger impact on price when product risk was high than when it was low.
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Hu, Jin, Xuelei Xiong, Yuanyuan Cai, and Feng Yuan. "The Ripple Effect and Spatiotemporal Dynamics of Intra-Urban Housing Prices at the Submarket Level in Shanghai, China." Sustainability 12, no. 12 (June 22, 2020): 5073. http://dx.doi.org/10.3390/su12125073.
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The ripple effect of housing price movements between cities has been extensively investigated, but there are relatively few studies on this topic within a metropolitan context, especially at the submarket level. This paper describes the use of ripple effect theory to examine the diffusion process and convergence of intra-urban housing prices at the submarket level in Shanghai, an emerging global city in China. The analysis is based on directed acyclic graphs, local indicators of spatial association time-paths, and a recently developed convergence test. The empirical results of grouping analysis identify 25 submarkets in Shanghai, and the diffusion of housing prices between these submarkets is found to be caused by both geographical and economic proximities. There is also a complex recursive process of price spillovers from high- to low-priced submarkets, and vice versa, which contributes to the spiraling local housing prices. Housing prices diverge across all submarkets, and the whole market can be divided into three convergence clubs. Finally, these convergence clubs have a circular structure with a degree of continuity. This study broadens our knowledge of the price interrelationship among housing submarkets at the intra-urban level. These findings have profound implications for urban planners, policy makers, and local residents.
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Dewi, Syanti, and Ishak Ramli. "OPSI SAHAM PADA PASAR MODAL DI INDONESIA (STUDI PASAR OPSI SAAT PASAR OPSI MASIH BERLANGSUNG DI BURSA EFEK INDONESIA)." Jurnal Muara Ilmu Ekonomi dan Bisnis 2, no. 2 (March 28, 2019): 300. http://dx.doi.org/10.24912/jmieb.v2i2.1001.
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Stock option exchange market is not working anymore in the Indonesian Stock Exchange, using the data option exchange market for the running period 2007-2008, we analyzed the effect of stock price, strike price, time to maturity, volatility and risk- free interest rate on the stock option’s price of listed stock call or put option trading at the Indonesian Stock Exchange during 2007-2008. The results found that the stock price, strike price, time to maturity, volatility and risk-free interest rate are positive significantly affecting the stock option price either the buying option price or the selling option price in Indonesia Stock Exchange 2007-2008 period. While there were no variables that significantly affected the call option during the periode 2007-2008, furthermore stock prices and strike prices significantly affected the put option prices. Time to maturity, Volatility, and risk free interest rate did not significantly affect the put option prices.That is why the stock option exchange market stop since the investor were not sure to the stock option price versus the risk of the volatility, time to maturity, and riskfree rate.
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Kumar, Rahul, Narendra Kumar, Akhlaque Ahmad, Manoj Kumar, Rajendra Nath, Rakesh Kumar Dixit, and Sarvesh Singh. "Cost comparison of antihypertensive drugs available in India with Drugs Prices Control Order price list." International Journal of Research in Medical Sciences 7, no. 1 (December 26, 2018): 101. http://dx.doi.org/10.18203/2320-6012.ijrms20185124.
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Background: DPCO (Drugs Prices Control Order) price list is issued by NPPA (National Pharmaceutical Pricing Authority) each year to guide the pharmaceuticals companies for controlling the prices in India. Some drugs cost more than the DPCO list. As antihypertensive drugs are taken lifelong once diagnosis is made, price variation and costing above prescribed price cause a huge economic burden on such patients. This study was undertaken to know the number of antihypertensive drugs brands with price above the recommended DPCO price list 2017.Methods: Authors have collected the data from website medguideindia.com, CIMS (current index of medical specialties), Drug Today, and compared the listed antihypertensive drugs of various available brands in India with DPCO price list 2017. Data was entered in Microsoft excel 2010. Percentage of selling price above the DPCO price list was calculated for each drug.Results: The data of 30 formulations of 16 antihypertensive drugs was analysed. The total number of available brands of all formulations was 1365 out of which only 831 (60.88%) brands were found to have price <DPCO recommended list. 534 (39.12%) brands had price more than the recommended limit. The minimum violation of price limit was found in case of metoprolol 25mg (6.66%) and maximum price violation was observed with spironolactone 25mg and sodium nitroprusside inj 10mg/ml.Conclusions: Reassessment and monitoring for implementation of DPCO price list should be done as still large number of brands are not following the regulations and are violating the limit set by NPPA/DPCO.
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Lemmerer, Andreas, and Klaus Menrad. "Customers’ use of prices and internal reference prices to evaluate new food products." British Food Journal 117, no. 4 (April 2, 2015): 1411–24. http://dx.doi.org/10.1108/bfj-07-2014-0270.
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Purpose – The purpose of this paper is to demonstrate the heterogeneous effects of gains and losses on the perception of new products. It seeks to argue that the heterogeneity in these effects (partly) stems from the price-perceived quality relationship which is more important for quality-seeking customers. Design/methodology/approach – A multilevel logit model was applied to household panel data on purchases of new yoghurt and sausage products in Germany. The multilevel model allowed to estimate heterogeneous price effects and accounted for the nested structure in panel data. Findings – Significant variation in the effects of gains, losses, and promotions were found. Internal reference prices (IRPs), which served as indicator of loss-averse vs quality-seeking customers, were found to moderate these effects. Monetary losses have less negative effects for customers with high IRPs. Negative interaction effects of IRPs with monetary gains and promotions indicate that quality-seeking customers are less attracted by gains and promotions. Practical implications – The heterogeneity in the price effects confirms the strategic importance of new product prices to influence customers’ perception of value. The price-quality relationship is an explanatory approach for heterogeneous price effects and should not be neglected in price setting. The inclusion of customer-specific reference price information yields deeper insights into customers’ use of prices to evaluate new products. Originality/value – This study is the first to estimate asymmetric gain and loss effects in the analysis of new product trial. A customer-specific view in price setting is emphasized by taking customer-specific reference prices into account.
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Sidley, Pat. "South African drug companies are found guilty of price fixing." BMJ 336, no. 7641 (February 21, 2008): 413.4–413. http://dx.doi.org/10.1136/bmj.39497.390069.db.
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Hoque, Mohmmad Enamul, Soo Wah Low, and Mohd Azlan Shah Zaidi. "Do Oil and Gas Risk Factors Matter in the Malaysian Oil and Gas Industry? A Fama-MacBeth Two Stage Panel Regression Approach." Energies 13, no. 5 (March 4, 2020): 1154. http://dx.doi.org/10.3390/en13051154.
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This study examines whether oil and gas risk factors are priced in the returns of Malaysian oil and gas stocks employing asset pricing model with improved version of Fama-MacBeth two-stage panel regression. The findings reveal that oil price risk, gas price risk, and exchange rate risk are priced factors in the returns of oil and gas stocks, alongside market-based risk factors. Oil price, gas price and exchange rate factors are found to be associated with positive risk premium implying that they are systematic risk factors in the Malaysian oil and gas industry. Investors demand compensation for exposure to changes in oil price, gas price and exchange rate, implying that the risk cannot be eliminated through diversification. The risk premium for common systematic risk factors such as market, book-to-market, and momentum factors are found to be negative. The results suggest that in the Malaysian oil and gas industry, momentum driven strategy produces negative returns and investors receive higher returns from investing in growth oriented oil and gas stocks. Our results offer implications for asset pricing and portfolio management.
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Quan, Li. "Daqing Crude Oil Price Forecast Based on the ARIMA Model." Open Petroleum Engineering Journal 8, no. 1 (October 22, 2015): 457–62. http://dx.doi.org/10.2174/1874834101508010457.
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Oil is the lifeblood of the industrial economy, oil prices are affected by many factors. China is a major industrial country, changes in the price of oil will affect many aspects of economic development, and therefore the price of crude oil research is extremely important. In this paper, monthly average prices of crude oil in Daqing from January 2000 to December 2010 are utilized to do the research. Based on ARIMA model by building software using EVIEWS, rule of oil price movements is found and a prediction of oil price is made using the data from the first 10 months of 2011.
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Marques dos Santos, Jose Paulo, Marisa Martins, Hugo Alexandre Ferreira, Joana Ramalho, and Daniela Seixas. "Neural imprints of national brands versus own-label brands." Journal of Product & Brand Management 25, no. 2 (April 18, 2016): 184–95. http://dx.doi.org/10.1108/jpbm-12-2014-0756.
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Purpose This paper aims to explore brain-based differences in national and own-label brands perceptions. Because price is a differentiating characteristic, able to discriminate between national and own-label brands, its influence is also studied. Design/methodology/approach The study uses the Save Holdings Or Purchase (SHOP) task with functional magnetic resonance imaging to explore the differences in brain functioning for national versus own-label branded products. Findings For the same product, the higher priced national brands and the lower priced own-label brands lead to more buying decisions. It is also found that there are brain structures that are more active/deactive for national than for own-label brands, both marked with real market prices. Price is a powerful driver of buying decisions and has its neural correlates. Parietal regions activate when brand information is subtracted from brand-plus-price information. The most surprising finding is that visual and visual associative areas are involved in the contrasts between branded products marked with switched prices and marked with real market prices. Originality/value The activation/deactivation brain patterns suggest that accepted models of brain functioning are not suitable for explaining brand decisions. Also, to our knowledge, this is the first time that a study directly addresses the brain’s functioning when subjects are stimulated with national versus own-label brands. It paves the way for a new approach to understanding how such brand categories are perceived, revealing the neural origins of the associated psychological processes.
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Khasanah, Siti Mir'atul, Mochammad Maksum, and Endy Suwondo. "Trend Analysis of Red Chili Price-Formation Models." agriTECH 40, no. 1 (March 5, 2020): 57. http://dx.doi.org/10.22146/agritech.45946.
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Red chili’s characteristic flavor has been a popular element in Indonesian cuisine. A large and continuous demand for red chili is inconsistent with production volumes, causing frequent and extreme price fluctuations throughout the year. This study explores the changing trends in red chili prices to identify the influencing factors. The study was conducted in the Sleman district of Yogyakarta, Indonesia. Time-series datasets of monthly production rates and prices of chili for 3 years were subject to multiple linear regression analysis. The study found a rising trend in prices in the Sleman Regency from January 2014 to December 2016. The factors significantly influencing the red chili prices was the price of cayenne pepper. The production cost of chili, the price of tomatoes, and the price of chili for the previous 2 months had only partial and nonsignificant effects. The timing of great Muslim celebrations, such as Eid Al-Fitr and Eid Al-Adha had no significant effect on the price of red chili. However, Christmas and New Year events were associated with higher prices.
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Shapiro, Stephen L., and Joris Drayer. "A New Age of Demand-Based Pricing: An Examination of Dynamic Ticket Pricing and Secondary Market Prices in Major League Baseball." Journal of Sport Management 26, no. 6 (November 2012): 532–46. http://dx.doi.org/10.1123/jsm.26.6.532.
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In 2010, the San Francisco Giants became the first professional team to implement a comprehensive demand-based ticket pricing strategy called dynamic ticket pricing (DTP). In an effort to understand DTP as a price setting strategy, the current investigation explored Giants’ ticket prices during the 2010 season. First, the relationship between fixed ticket prices, dynamic ticket prices, and secondary market ticket prices for comparable seats were examined. In addition, seat location and price changes over time were examined to identify potential effects on ticket price in the primary and secondary market. Giants’ ticket price data were collected for various games throughout the 2010 season. A purposive selection of 12 games, which included (N= 1,316) ticket price observations, were chosen in an effort to include a multitude of game settings. Two ANOVA models were developed to examine price differences based on pricing structure, market, section, and time. Findings showed significant differences between fixed ticket prices, dynamic ticket prices, and secondary market ticket prices, with fixed ticket prices on the low end and secondary market ticket prices on the high end of the pricing spectrum. Furthermore, time was found to have a significant influence on ticket price; however, the influence of time varied by market and seat location. These findings are discussed and both theoretical and practical implications are considered.
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Anis Erma Wulandari, Harianto Harianto, Bustanul Arifin, and Heny K Suwarsinah. "The Impact of Futures Price Volatility to Spot Market : Case of Coffee in Indonesia." Jurnal Organisasi dan Manajemen 15, no. 1 (March 1, 2019): 1–15. http://dx.doi.org/10.33830/jom.v15i1.5.2019.
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Indonesia is the world 4th largest coffee producer after Brazil, Vietnam and Colombia with export potential and higher national consumption concluded in 2017 while the coffee production was relatively stagnant. This was led the producer to not only the production risk but also the price risk which then emphasize the importance of futures markets existence as price risk management. This study is performed to examine the impact of futures price volatility to spot market using ARCH-GARCH toward primary data of coffee futures and spot prices of 1172 trading days starting from January 2014 to June 2018. The ARCH-GARCH analysis result indicates that futures price volatility and monetary variables are impacting the volatility of spot price. Arabica spot price volatility is impacted by volatility of Arabica futures price, inflation and exchange rate while Robusta spot price is impacted by Robusta futures price volatility and exchange rate. This is confirming that futures market plays dominant role in spot price discovery. Local futures and spot prices are also found to be significantly influenced by volatility of offshore futures prices which indicates that emerging country futures market is actually influenced by offshore futures market which the price itself used as price reference.
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Zhang, Xiao Hong, Li You Fu, and Hang Zhang. "Hedonic Price Analysis on Mobile Phone Market." Advanced Materials Research 418-420 (December 2011): 2200–2205. http://dx.doi.org/10.4028/www.scientific.net/amr.418-420.2200.
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Using collected 190 samples, this paper studied Chinese mobile phone market with hedonic price analysis. Through calculating hedonic price of heterogeneous goods, this paper summed up the positive and negative factors that influence the price of mobile phones. This paper found that network type and GPS are negative effects on mobile phones’ prices, which is little different from the real life situation; And the price will become more and more cheaper with time; In addition, the price of mobile phones with additional features is correspondingly higher.
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Baek, Jungho, and Won W. Koo. "Price Dynamics in the North American Wheat Market." Agricultural and Resource Economics Review 35, no. 2 (October 2006): 265–75. http://dx.doi.org/10.1017/s1068280500006717.
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Perron's test, Johansen cointegration analysis, and a vector error-correction (VEC) model are used to identify structural change, as well as to examine price dynamics in the U. S. and Canadian hard red spring (HRS) and durum wheat markets. It is found that, due to the U. S. Export Enhancement Program (EEP), price instability experienced in June 1986 has resulted in structural changes for Canadian HRS and durum prices. We also find that Canadian prices have significant effects on the determination of the U. S. prices in the North American wheat market.
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Baum, Sandy, and Saul Schwartz. "Is Postsecondary Education Affordable?" International Higher Education, no. 70 (January 1, 2013): 11–12. http://dx.doi.org/10.6017/ihe.2013.70.8706.
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The evolution of higher education from a privilege for the elite to an economic and social necessity for broad segments of the population has created financing challenges, along with new opportunities, for students and their families. Governments that were able to provide free or low-priced access to universities for the select few have found it necessary to charge rising levels of tuition, even as less-affluent citizens aspire to enroll. In a number of countries—including Canada, Chile, and England—students have taken to the streets to protest tuition policies. Students are less militant in the United States; but there, as elsewhere, rising college prices and stagnating incomes have led to the widespread perception that postsecondary education is “unaffordable” for more and more people.Yet, it is not obvious what “unaffordable” means. What price is relevant—the published price of postsecondary study, the price people actually pay, or the price people should be expected to pay? Efforts to increase educational opportunity can be hindered if policymakers do not have a clear idea of the meaning of an “affordable” or “unaffordable” education.