Cost Benefits Research Articles

Asymmetries in Federal Reserve Objectives

Abstract Abstract This paper uses evidence from the Federal Open Market Committee’s Summary of Economic Projections to show that US monetary policymakers have objectives over unemployment and inflation outcomes that are not well-approximated through a conventional quadratic loss function. Rather, policymakers derive material costs (benefits) from overshooting (undershooting) their long-run inflation and unemployment goals. The trade-off between the resultant downward tilts in unemployment and inflation played a key role in shaping the evolution of monetary policy choices since the Great Recession.

Three Versus Six Months of Adjuvant Oxaliplatin-Containing Chemotherapy for Patients With Stage III Colorectal Cancer: A Contemporary Real-World Analysis.

Based on the International Duration Evaluation of Adjuvant Chemotherapy analysis, 3 months of adjuvant chemotherapy with capecitabine and oxaliplatin (CAPOX) is an option for stage III colorectal cancer (colorectal cancer [CRC]), with cost and toxicity benefits. We examined the patterns of uptake of CAPOX versus fluorouracil, leucovorin, and oxaliplatin (FOLFOX) and chemotherapy duration in a contemporary real-world cohort of patients in Canada. The provincial pharmacy database was used to identify patients with resected stage III CRC receiving adjuvant chemotherapy between January 2021 and December 2022. Demographic, tumor, and treatment information was collected and compared. Of 452 patients, 234 (52%) and 218 (48%) were planned to receive 3 and 6 months of chemotherapy, respectively. Within the 3-month group, 226 (97%) received CAPOX. Within the 6-month group, there was a 51%-49% split between CAPOX and FOLFOX. Age >70 years (P = .039), well/moderately differentiated (P = .005), and low-risk disease (P < .0001) were significantly associated with 3 months. Performance status, ileostomy, or preexisting neuropathy did not affect treatment choice. Of patients planned for 6 months, 29% had low-risk disease, with 52% of these receiving CAPOX. Patients receiving 6 months were more likely to report neuropathy (68 v 36%, P < .0001) and to stop oxaliplatin early (54 v 31%, P < .0001). The most likely reason for early adjuvant discontinuation was neuropathy in the 6-month group and gastrointestinal toxicity in the 3-month group (P < .0001). Irrespective of duration, mean time from consult to starting chemotherapy was longer for FOLFOX versus CAPOX (24 v 19 days, P = .007). In this contemporary cohort, 6 months chemotherapy is still being offered to patients with low-risk disease and is associated with more neuropathy. Exploration of patient preferences and resource costs may improve adoption of reduced duration adjuvant CAPOX in stage III CRC.

Building Representative State Groupings in an Input-Output Model for the Development of an Economic Impact Calculator for Nutrition Incentive Programs

Eating a diet high in fruits and vegetables is associated with a reduction in the risk of chronic diseases such as obesity, cardiovascular disease, Type 2 diabetes, hypertension, asthma, depression, and mental illness, yet few low-income adults meet these recommendations. Nutrition incentive programs have emerged over the last decade to offer incentives to food-insecure households to purchase more fruits and vegetables. Although the goal of the program is to increase the consumption of fresh fruits and vegetables, defenders of nutrition incentive programs increasingly want to document economic impacts of their programs but often lack the resources to do so. Rather than these programs spending their scarce resources on conducting studies, this research created a rigorous, yet easy to use tool that U.S.-based practitioners operating nutrition incentive programs can use to estimate the economic impact of their programs, including incentive redemptions at both farm-direct and brick-and-mortar businesses.

The target group of policy

ABSTRACT Policy is typically aimed at behaviour change within a target group. It is traditionally assumed that this target group makes an economic calculation and bases its decision on whether or not to comply. Previous research has shown that, in addition to economic motives, other motives also play a role in the considerations of the target group. However, previous research does not consider to what extent the target group actually acts compliant or non-compliant. This research not only examines the different motives, but also provides a picture of the actual level of compliance, in order to assess and explain policy effectiveness. It appears that motives alone do not explain the degree to which a target group actually acts compliant. This degree is rather explained by the target group’s assessment of current circumstances combined with underlying motives.

Vasectomy provider decision-making balancing autonomy and non-maleficence: qualitative interviews with providers

Background Male sterilization, or vasectomy, is 99.9% effective at preventing pregnancy with less than a 2% risk of complications. Despite the high efficacy, low risk, low cost, and gender equity benefits of vasectomy, just 2% of women reported that they and their partners relied on vasectomy as their contraceptive method globally in 2019. Health care providers can be both a facilitator and a barrier in men’s health generally, and may be in vasectomy provision as well. This study sought to describe the decision-making rationales of experienced vasectomy providers when evaluating patient candidacy in complex cases. Methods Fifteen vasectomy providers belonging to the global Vasectomy Network Google Group from seven countries participated in online interviews using a semi-structured in-depth interview guide. Providers were asked about their vasectomy training, their reasons for vasectomy provision, challenging cases they have faced, and approaches used to manage challenging cases. Vignettes were used to further elicit decision-making rationale. Thematic analysis was conducted using MAXQDA20. Results Provider decision-making was predicated on ensuring patients were well-informed, able to consent, and certain about their choice to have a vasectomy. Once those foundational conditions were met, providers filtered patient characteristics through their training, laws and policies, sociocultural norms, experience, and peer influence to produce a cost-benefit breakdown. Based on the cost-benefit analysis, providers determined whether to weigh autonomy or non-maleficence more heavily when determining vasectomy patient candidacy. Conclusions Despite clinical best practices that promote prioritizing patient autonomy over non-maleficence, some providers continued to weigh non-maleficence over autonomy in vasectomy patient candidacy evaluations. Non-maleficence was particularly prioritized in cases providers deemed to be at higher risk of regret. The findings of this study suggest vasectomy provider training should emphasize evidence-based best practices in shared decision-making and patient-centered care to facilitate vasectomy provision that honors patient autonomy and rights.

PRAXEOLOGICAL ANALYSIS OF ESG: THE PRACTICAL IMPLEMENTATION OF THE STAKEHOLDER MODEL

This paper presents a praxeological examination of ESG —Environmental, Social, and Governance— conceptualized as the practical enactment of the Stakeholder Model, where the corporation is seen as an instrument for social organization. At the heart of this scrutiny is the entrepreneurial function, explored through the lens of the impossibility of economic calculation theory, dynamic efficiency theory, and the theory of spontaneous order. These notions are contrasted against the neoclassical critique of ESG challenges, underscoring that the Austrian viewpoint penetrates more profoundly into the fundamental issue: ESG is an institutional encroachment on the entrepreneurial function and, thus, a variant of socialism that induces miscoordination in social processes. The paper delves into the multifaceted causes and resultant effects, elucidating why the prevailing prescriptions for ESG enhancement are likely to lead to augmented regulation and further miscoordination.

Steps for the Realization of a Medium-power Photovoltaic Park

The design of photovoltaic parks has become in Romania, now, one of the most profitable and safe investments in the field of renewable energy sources, not only at present, but even more so in the future. Solar photovoltaic parks are favored by maximum exposure to solar radiation, a minimal impact on the environment, allowing the production of energy with a cost per kWp lower than that of other installations. The execution period of a photovoltaic park varies between 3-6 months depending on location and weather conditions. Romania has a high degree of solar radiation, suitable for investment in photovoltaic parks. There are three categories of documents required for the establishment of a photovoltaic park: those related of the land on which the park is build, the solution study for obtaining the technical approval for connection (ATR) to the electrical grid and obtaining the establishment authorization. The realization costs involved in building and designing a photovoltaic park are between 1.1-1.9 Euro/Watt. The quality of the equipment used in construction, the shape of the land, the costs of connection to the national electrical grid, are factors that can constitute the cost of realization. Another important factor in terms of income is the level of operational expenses, which is between 2% and 8% of the annual income and includes security, equipment and land maintenance, system monitoring. The paper will present a technical and economic calculation for a photovoltaic park with a power of 400 kW.

Methodology for selecting optimal wire grade and cross-section based on an integrated technical and economic criterion

The aim was to develop a methodology for selecting an optimal wire grade and cross-section for overhead power lines with a voltage of above 1 kV under intensive development of power grid systems. This aim was solved using the authors’ previously developed methods: selection of an optimal wire grade based on hierarchy analysis and selection of an optimal wire cross-section by optimizing the specific discounted costs during the entire period of construction and operation of overhead power lines. In the present study, these methods are integrated into a single methodology. It is proposed to implement wire inspections prior to the stage of technical and economic calculations, since the necessary data has already been taken into account during the selection of a wire grade and its cross-section. The proposed methodology was tested on a typical example of reconstruction of the Zapadnaya– Davydovka 110 kV overhead line, which creates limitations in the power supply of Primorsky Krai due to insufficient wire capacity and its operation beyond the normative period. SENILEK AT3/C 150/24 wire was selected as a solution for the example under consideration. The application of this wire grade allows not only the overhead line capacity to be increased by 151% without replacing the existing supports, but also active and reactive power losses in the electric network to be reduced by 18.9 and 2.5%, respectively. The proposed methodology enables selection of an optimal grade and cross-section of any wire design, taking the dynamically changing operational conditions of power grid systems into account. The solutions found by the proposed methodology may contribute to a more efficient operation of power lines due to increasing their transmission capacity, reducing the number of used supports, replacing the line wire without replacing supports, decreasing ice formation on wires, and reducing power losses.

Exploration of the optimal low-carbon peanut rotation system in South China

CONTEXTPeanut is an important economic and oil crop that has the potential to contribute to low-carbon agriculture. However, there is scarcity of comprehensive evaluations regarding the impact of various peanut rotation systems and their contribution to low-carbon agriculture. OBJECTIVEThe research aims to comprehensively evaluate the contribution of peanut rotation systems to low-carbon agriculture in South China, and expected to explore the optimal low-carbon peanut rotation system in this area. METHODSThree cropping patterns were compared over a four-year experimental period: wheat–peanut (W-P) rotation, rape–peanut (R-P) rotation, and peanut monocropping (MP), under two types of initial fields (paddy and dryland). The carbon footprint (CF), product carbon footprint (PCF), carbon sequestration, food carbon cost (FCC), soil carbon characteristics, net economic benefit, and ecosystem service values of C sequestration of three rotation ecosystems were studied. RESULTS AND CONCLUSIONSOur findings reveal that R-P, WP, and MP had total CFs of 1.788, 3.882, and 1.096 t CO2-eq·hm−2, respectively. Agricultural material input, particularly N fertilizer, was the primary CF contributor. R-P had higher carbon sequestration amount and efficiency than WP. Notably, dryland-initial fields of both R-P and WP had higher carbon sequestration efficiency (71.1 % and 17.6 % higher, specifically). Our soil carbon analysis indicates that both plant residue quality and initial field type influence C sequestration. While WP had the highest PCF (0.552 t CO2-eq t−1) and FCC of protein (3.428 kg CO2-eq·kg−1), fat (3.791 kg CO2-eq·kg−1), and energy (0.135 kg CO2-eq·1000 kcal−1), R-P showed the highest net income (3333.3 US$·hm−2) and higher ecosystem service value of C sequestration (−5.6 US$·hm−2). Furthermore, our findings reveal that common crop rotations in South China have higher CFs than the tested peanut-based systems. Therefore, R-P rotation is the most suitable system for low-carbon agriculture in the research area among these three rotations due to its lower carbon cost and higher economic benefits. And the advantages, disadvantages and uncertainties of different low-carbon agricultural indicators have also been analyzed. SIGNIFICANCEOur study would contribute to exploring agroecosystems management ways and methods to mitigation climate change and provide references for the establishment of evaluation criteria for low-carbon agriculture.

Cost Analysis of Avoiding Gastrostomy Tube in Robin Sequence Neonates that Undergo Mandibular Distraction.

To evaluate costs associated with perioperative gastrostomy tube (G-tube) placement for neonates with Robin sequence (PRS) that undergo mandibular distraction osteogenesis (MDO). Retrospective chart review was performed to examine the medical records of neonates with RS who received treatment at our institution between 2012 and 2021. Patients under 6 months of age that underwent MDO for RS were included. Billing records of hospital costs over a 2-year period were analyzed. The study included 26 total patients with 11 in the MDO-only group, 9 in G-tube after MDO group, and 6 in G-tube before MDO group. There was a significant difference (p < 0.001) in total hospital costs between groups with MDO-only group averaging $119,532 (SD 33,503), the G-tube after MDO group averaging $245,315 (SD 102,327), and G-tube before MDO group averaging $252,300 (SD 84,990). Multiple linear regression was performed controlling for genetic syndrome and birth weight, which still showed a statistically significant difference in total cost between the MDO-only group and G-tube after MDO (p = 0.006), and between the MDO-only group and G-tube prior to MDO (p = 0.01). There was a significant difference in costs between all three groups for total inpatient/outpatient costs with MDO-only group averaging $78,502 (SD 30,953), the G-tube after MDO group averaging $176,125 (SD 84,315), and the G-tube prior to MDO group averaging $156,309 (SD 95,746). MDO performed without perioperative G-tube placement may reduce charges by >$100,000. The associated improvement of dysphagia after MDO surgery and potential for avoiding a G-tube has tremendous downstream cost and social benefits for families. NA Laryngoscope, 2024.

Techno-Economic Analysis of Utilization Offshore Platform in the Java Sea to Produce Hydrogen with Offshore Wind Turbine-Based Energy Sources

Abstract Indonesia’s geographical condition, which consists of 70 percent ocean territory, holds the potential for utilizing offshore wind turbines to provide cleaner energy. In this study, economic calculations were conducted for offshore wind turbines to generate green electricity and green hydrogen. The chosen ocean area for this endeavor is around the Papa offshore platform in the Java Sea. This area has experienced an economic decline, making it viable for repurposing as a sub-station for a powerhouse and an electrolyzer plant. Based on meteorological data analysis results, the area around the Papa offshore platform exhibits an average at height of 119 m; the wind speed is 5.5 m/s.The prevailing wind direction is East Southeast (ESE), with a frequency of 25.2%. Further analysis of wind farms aimed at generating a capacity of 100.8 MW revealed an optimal potential energy generation of approximately 141,656.9 MWh per year. For scenario 1 (electricity production), the cost is $0.192/kWh. The levelized cost of hydrogen (LCOH) for scenario 2 (offshore electrolyzer) and scenario 3 (onshore electrolyzer) is $9.44/kg and $10.1/kg, respectively. To assess investment feasibility, a Net Present Value (NPV) analysis was conducted. This analysis yielded a selling price of electricity at $0.0271/kWh for the first scenario. For the second scenario, the selling price of hydrogen was calculated at $17.11/kg, and for the third scenario, it was $16.99/kg. Considering its flexibility and potential response to restrictions, the third scenario was deemed the most suitable for offshore utilization to produce clean energy.

National health and economic impact of a lifestyle program to prevent type 2 diabetes mellitus in Germany: a simulation study

IntroductionTo examine the long-term health and economic impact of a lifestyle diabetes prevention program in people with high risk of developing type 2 diabetes in Germany.Research design and methodsWe assessed...

An economic analysis of production and cost benefits of major crops in Janjgir-Champa district of Chhattisgarh

An economic analysis of production and cost benefits of major crops in Janjgir-Champa district of Chhattisgarh

Economic optimization of sustainable soil management: a Dutch case study

Soil quality is pivotal for crop productivity and the environmental quality of agricultural ecosystems. Achieving sufficient yearly income and long-term farm continuity are key goals for farmers, making sustainable soil management an economic challenge. Existing bio-economic models often inadequately address soil quality. In this study, we apply the novel FARManalytics model, which integrates chemical, physical, and biological indicators of soil quality indicator, quantitative rules on how these indicators respond to farmers’ production management over time, and an economic calculation framework that accurately calculates the contribution of production management decisions towards farm income. This is the first study applying this model on existing arable farms. FARManalytics optimizes crop rotation design, cover crops, manure and fertilizer application and crop residue management. Nine Dutch arable farms were analyzed with a high variation in farm size, soil type, and cultivated crops. First, we assessed farm differences in soil quality and farm economics. Second, we optimized production management to maximize farm income while meeting soil quality targets using farm-specific scenarios. Third, we explored the impact of recent policy measures to preserve water quality and to increase the contribution of local protein production. The results show that the case farms already perform well regarding soil quality, with 75% of the soil quality indicators above critical levels. The main soil quality bottlenecks are subsoil compaction and soil organic matter input. We show that even in front-runner farms, bio-economic modeling with FARManalytics substantially improves economic performance while increasing soil quality. We found that farm income could be increased by up to €704 ha−1 year−1 while meeting soil quality targets. Additionally, we show that to anticipate on stricter water quality regulation and market shift for protein crops, FARManalytics is able to provide alternative production management strategies that ensure the highest farm income while preserving soil quality for a set of heterogenous farms.

Techno-economic-environmental study of CO2 and aqueous formate solution injection for geologic carbon storage and enhanced oil recovery

As carbon capture, utilization, and storage (CCUS), carbon-dioxide enhanced oil recovery (CO2 EOR) has inherent shortcomings, such as inefficient oil recovery and carbon storage, and low storage security with mobile CO2. This paper presents a techno-economic-environmental analysis of using formate species, a product of CO2 electrochemical reduction, as an alternative carbon carrier for sequestration and EOR in a carbonate oil reservoir in the Gulf of Mexico Basin. CO2 injection, water-alternating-CO2 injection, and aqueous formate solution injection were compared using a compositional reservoir simulation model and an economic calculator. Formate solution injection yielded greater levels of oil recovery and net carbon storage, where the carbon-bearing species resided in the dense aqueous phase without having to rely on petrophysical trapping mechanisms (structural and capillary). The enhanced oil production, net carbon storage, and storage security can be promoted by providing formate-based CCUS with more incentives (e.g., greater tax credit) in comparison to CO2-based CCUS for EOR and the manufacture of chemicals and products. In establishing carbon storage incentive policies and regulations, policymakers should include alternative carbon carriers.

ECONOMIC EFFICIENCY OF APPLICATION OF OPTIMIZED MILL BED

This paper presents the selection of optimization parameters for the bed geometry of a long metal cutting machine (MCM), the design problem and boundary conditions were given. Five different geometries were designed for further mathematical analysis to meet the requirements of the problem. Static analysis of the mathematical model of the bed shells was performed by finite element method (FEM) using BETA CAE System tool, ABAQUS, which showed that by using stiffeners in the form of two variable pitch spirals and three hollow tubes, as well as changing the design at the connection point of the beam support to the bollards of the long bed of the metal cutting machine, the stresses that occurred in these places at an angle of 90° were reduced. The geometries were chosen in such a way that it was possible to reduce the stresses occurring at the point of cutting, to reduce the deflection, to increase the rigidity of the structure. The economic calculation aimed at determining the cost of a long metal-cutting machine tool with the proposed geometry has been carried out. The analysis of the unit cost of the product (long bed of the metal-cutting machine tool made of polymer concrete with optimized geometry) has been carried out, the calculation of the annual economic effect from the use of the proposed method of manufacturing has been carried out. Keywords: MCM, FEM, statistical analysis, product cost, economic calculation.

Pain Management of Cow Before and After Cesarean Surgery

Background: On-farm pain reduction treatments are used depending on whether or not they are feasible and how important they are to the producer. The Iraqi beef industry lacks understanding on the various methods of pain treatment. The aim is to management the pain in cows of caesarean section operation. Method: This article provides an overview of agricultural pain techniques as well as producer pain mitigation strategies. A questionnaire covering calving and processing was given to one hundred cow–calf producers in the southern region of Iraq. Interviews on farms were semi-structured, and 25 people who had filled out the questionnaire were chosen to participate. Results: Between fifty and one hundred percent of respondents utilized cesarean pain relief. Reports. In most cases, pain medication was not offered. 66% of them employed branding, while just 7% focused on pain alleviation. The perception of pain by producers is influenced by factors such as common sense, relatability to cattle, visual evidence of suffering, and the age of the animal. The reason for reducing pain was impacted by factors such as the age of the animal, the benefits of operation, costs and logistics, market needs, and personal conscience. The management adhered to the norms of Iraq. Conclusion: The findings of this research might potentially provide future efforts in policy making, research, and extension with a route to follow in order to expand the adoption of pain reduction techniques.

POST-PANDEMIC TRADE FAIR DYNAMICS: A LONGITUDINAL STUDY OF EXHIBITORS' VIEWS ON DIGITAL AND HYBRID TRADE FAIRS

This study investigates evolving perceptions and preferences among exhibitors regarding trade fair formats, focusing on virtual, hybrid, and physical events. The aim is to understand how attitudes have shifted post-pandemic and the implications for future trade fair strategies. A longitudinal comparative analysis was conducted using survey data collected from exhibitors over two years. The analysis focused on evaluating perceptions of virtual, hybrid, and physical trade fairs, examining factors such as cost savings, technological barriers, health safety advantages, and interpersonal interactions. Findings indicate increasing recognition of cost and time-saving benefits in virtual formats. Despite technological improvements, challenges in interpersonal interactions persist. Interest in hybrid events is rising, but concerns exist about effectively combining physical and virtual advantages. Confidence in physical trade fairs is rebounding, especially among less COVID-affected exhibitors, suggesting a coexistence with virtual events rather than a complete replacement. Strategic flexibility is crucial to optimizing engagement across diverse preferences and capitalizing on emerging opportunities. The findings underscore the need for trade fair organizers to adapt their strategies to accommodate hybrid models effectively. Future research should delve deeper into specific factors influencing exhibitor satisfaction and engagement in hybrid environments, informing ongoing adaptations to the evolving trade fair landscape.

Comprehensive evaluation of CCUS technology: A case study of China's first million-tonne CCUS-EOR project

CCUS, an emerging technology for reducing carbon emission, plays a crucial role in achieving the goal of carbon neutrality. CCUS technology exemplified by CO2 enhanced oil recovery (EOR) is gradually progressing from project demonstration to large-scale application. However, the commercial application still faces uncertainties in economic cost, energy efficiency and environmental benefits. This paper takes China's first million-tonne CCUS-EOR project (Qilu Petrochemical-Shengli Oilfield CCUS-EOR project) as an example, and establishes a comprehensive research framework for evaluating CCUS from the three dimensions of energy, environment, and economy, based on economic viability, energy input-output analysis, and carbon input-output analysis. The results demonstrate that during the project lifecycle, when the average oil price is $90/bbl, the project's NPV is $56.09 million, the project's IRR is 13.4 %, the payback period is 8.34 years, and the threshold oil price for the project to be economically profitable is $81.52/bbl. Furthermore, the Energy Return on Investment (EROI) of the project is 9.09, which considerably superior to that of the Shengli Oilfield's non-EOR, and the net energy output is approximately 18,472.57 kilobarrels. The Carbon Return on Investment (CROI) of the project is 4.12, with significant environmental benefits, and the cumulative net carbon emission reduction is approximately 8078.55 kilotonnes. Furthermore, the trends in EROI and CROI of the CCUS-EOR project demonstrate nearly opposite trajectories. The variation trends in EROI emerge N-shaped curve, while that of CROI emerge S-shaped curve. In summary, the Qilu Petrochemical-Shengli Oilfield CCUS-EOR project exhibits notable advantages in terms of energy efficiency and environmental benefits. However, the threshold oil price for triggering economic profitability is relatively high, which may pose certain economic risks to investors during periods of low oil price.

Assessment of regional financial risk based on an integrated approach

Subject. The article considers a comprehensive model to assess the financial risk of the region. Objectives. The aim is to develop a financial risk prevention model that integrates economic, social, political, environmental, and financial indicators, having a significant impact on the economy. Methods. The study rests on methods of synthesis, analysis, comparison, and economic and mathematical calculations, i.e. weighted summation with preliminary normalization of each estimated indicator. The process of data collection, normalization, selection of indicator weights, and calculation of integral indicator of financial risk was implemented for 2022. Results. We established the presence of financial risks in the region. Both the results and the model itself can be useful for further research. The advantage of the model is the relative small number of applied indicators. This facilitates the collection of information, its processing and evaluation. The evaluation of the above calculations reflects the conditionality of ranking. The results that reflect dynamics are more indicative. Conclusions. The formed model, when assessing regional financial risk, enables to take into account the multidimensionality of modern regional economies.