Maximum Price Research Articles

Влияние маркетинговой среды на развитие гостиничной индустрии на современном этапе

The article considers the problem of studying the influence of the marketing environment on the development of the hotel industry at the present stage. An overview of the global hotel market is given, the main indicators of collective accommodation facilities in the Russian Federation over 2010–2019 are illustrated. The influence of the marketing environment on the development of the hotel industry at the present stage is revealed. The marketing environment of the tourism and hospitality industry has been studied, the most optimal methods for forecasting demand for hotel services have been identified, and recommendations for creating business planning algorithms in the hotel business have been developed. Attention is drawn to the fact that the business is currently experiencing a crisis caused by the pandemic. The statistical data are provided to compare the state of the market before the pandemic and at the end of the first half of 2020. There have been considered the legislative innovations aimed at stimulating the demand for tourist services. The analysis of the marketing environment of hotels in Astrakhan is carried out. There has been studied the impact on the development of the hospitality industry of such marketing strategies as cost reduction strategy, survival strategy, strategy of maximum and minimum prices, strategy of winning the market or part of it, and innovation strategy. The results of implementing these strategies in business have been analyzed. The most of the existing marketing strategies are designed to maximize income and increase sales; in modern conditions the leading principle of the development of the hospitality industry is keeping the company in the market. For the successful operation and profitability of the hotel business it is necessary to apply combined marketing strategies that are individual for each enterprise in the tourism sector.

Peculiarities of designing the power supply system with renewable energy sources in the conditions of the electricity market

Due to the formation of the electricity market in 2019, independent producers gained access to the market. This initiative promotes free pricing of electricity costs and in the long run should simultaneously reduce the cost of electricity and ensure the stability of Ukraine's energy system. One of the promising sources of energy that can be sold on the market is renewable energy. At the same time, the owners of power supply systems with renewable electricity have unstable energy generation, which unbalances the unified energy system of Ukraine. Free pricing will help balance the energy system, because at intervals of energy deficit it will have a higher cost. Therefore, energy suppliers from renewable sources will be interested in installing storage capacity in order to accumulate electricity at intervals when it is cheap, and sell at a high cost. The article analyzes the conditions of profitability of power supply systems with and without energy storage system, depending on the level of depreciation and the cost of electricity. In this case, the energy of the power supply system without energy storage is immediately sold to the grid without balancing the system, so it is more appropriate to use a system with storage, which should provide a significant difference in price for periods of energy shortage. It is proved that it is expedient to use one of the cheapest types of renewable energy source in the power supply system. Whereas to reduce the cost of a power storage system with energy storage, it is more appropriate to use several energy sources whose power is weakly correlated. In this case, the storage system has less energy consumption and lower cost. Since the statistics on solar power and wind speed for a particular region are given as an array of numerical data, as a rule, the parameters of the system with the maximum profit are sought by numerical methods, most often - the gradient descent method. In this case, to balance the power system, it is advisable that the profit of the system with energy storage exceeds the profit of the system without it, which is possible provided that the difference between the maximum and minimum price of electricity during the day.

COMPARATIVE ANALYSIS OF FOREIGN PRACTICE OF JUSTIFICATION OF THE INITIAL MAXIMUM PRICE OF THE CONTRACT IN THE PUBLIC ORDER PLACEMENT SYSTEM

The paper highlights the main aspects of the formation and justification of the maximum price when placing a state order by participants in the contract system of foreign countries. The analysis of the best practices in public procurement is described on the example of countries such as the USA, Canada, UK, France, Brazil, Australia. Differences in comparison with the domestic practice of justifying the initial maximum price are revealed, associated with the obligatory survey of participants in the procurement procedure by government customers, with explanations of the decision taken by the commission of the government customer. The work reflects foreign analogues of the concept of the initial maximum contract price used in Russian practice, which are subject to the principles of agreeing a reasonable and fair price, as well as the open and hidden nature of the reserve price. The essence of the concept of the preliminary price of a state contract mentioned in the directives and guidelines of the European Union is revealed. The article reveals the factors enshrined in foreign regulations that prevent the formation of an equilibrium market price in the system of placing a government order, associated not only with a conflict of interest, but also with the unjustified provision of cost and non-cost benefits

Economic value analysis of on-orbit servicing for geosynchronous communication satellites

In recent years, On-orbit servicing (OOS) is in the ascendant, attracting attentions of a growing number of institutions and commercial space companies. The sustainable development of OOS is heavily relied on its economic benefits. However, the economic feasibility of OOS is not sufficiently analyzed in the existing studies. Based on this, a general economic value analysis framework for OOS is proposed in this paper. Firstly, the maximum price that clients would be willing to pay is obtained by real option method through comparing values of OOS by an alternative scheme. Secondly, the minimum price that the servicer could afford is predicted by Discounted Cash Flow (DCF) method, which is based on a service provider value model. Six necessary factors are considered in this model at the same time, including servicing architecture and its initial construction cost, mission related depreciation, income tax, operating expense, monetary value, as well as technical risks and the corresponding insurance premium. Then, the above two prices are compared to analyze the economic feasibility of OOS. Finally, mission cost, pricing strategies and OOS value drivers are modeled and discussed within the estimated acceptable price range. The results show that the OOS is commercially viable when the initial costs of geosynchronous communication satellites and the servicing architecture are more than $242 M and less than $140 M respectively. The applicability and usefulness of the proposed method are demonstrated by an actual business case analysis of the Mission Extension Vehicle-1 (MEV-1).

Analysis for price variations in fluoroquinolones eye preparations manufactured by various pharmaceutical companies

Introduction: Fluoroquinolone eye drops are prescribing by Ophthalmologist in many ocular diseases as conjunctivitis, keratitis, bacterial corneal ulcers etc in more and more amount. There are many brands of fluoroquinolones drugs available in Indian market. Costly drugs can lead to economic burden on patients. Modifications in pharmaceutical policy are required, and prices of the drug should be controlled in effective way for all the drugs. Hence this study was done to assess the cost variation of fluoroquinolones ophthalmic solutions available in Indian market. Materials and Method: The maximum and minimum price of each brand of the drug in INR was noted by using CIMS January to April 2018 edition Drug Today April to June 2018 Vol-1. The cost ratio and the percentage cost variation for individual drug brands was calculated. The cost of each eye drop was calculated. At last the cost ratio and percentage cost variation of various brands was compared. Result:Percentage variation in cost for fluoroquinolones eye preparations marketed in India was found to be Eye drop Ciprofloxacin (0.3%) of 5ml:210.39, Eye drop Ciprofloxacin (0.3%) of 10 ml:162, Eye drop Gatifloxacin (0.3%) of 5ml:156, Eye drop Moxifloxacin (0.5%) of 5ml:196.95, Eye drop Ofloxacin (0.3%) of 5ml:245.16,Eye drop Ofloxacin(0.3%) of 10ml:62.5,Eye drop Norfloxacin(0.3%) of 5ml:120.68, Eye drop Sparfloxacin (0.3%):8.31,Eye drop Lomefloxacin (0.3%):16.17 Conclusion:There is a wide difference in the cost of different brands of fluoroquinolones eye preparations available in India. The clinicians prescribing these drugs should be aware of these variations in cost to reduce the cost of drug therapy. Keywords: Fluoroquinolones, Percentage cost variation, Keratitis, Bacterial corneal ulcer, Conjunctivitis

To analyze the variations in cost of Anti-glaucoma eye preparations available in Indian market

Aim: To analyze the percentage cost variations among different brands of the commonly prescribed anti–glaucoma drugs. Material and Methods: The maximum and minimum price of each brand of the drug in INR was noted by using CIMS January to April 2018 edition Drug Today April to June 2018 Vol-1. The cost ratio and the percentage cost variation for individual drug brands was calculated. The cost of each eye drop was calculated. At last the cost ratio and percentage cost variation of various brands was compared. Results:Percentage variation in cost for anti-glaucoma eye preparations marketed in India was found to be Eye drop Timolol maleate (0.5%) of 5ml:263.63, Eye drop Dorzolamide (2%) of 5ml:9.77, Eye drop Pilocarpine (2%) of 5ml:160.40, Eye drop Betaxolol (0.5%) of 5ml:56.54, Eye drop Latanoprost(50mcg/ml) of 2.5ml:135.88, Eye drop Brimonidine tartarate (0.15%) of 5ml:183.9, Eye drop Levobunolol (5mg/ml) of 5ml:32.38, Conclusion:Glaucoma is the most common ocular disease and eye drops are to be prescribed for prolonged period. If a costly brand is prescribed, the patients have to pay more money unnecessarily for their treatment. The clinicians prescribing these drugs should be aware of these variations in cost to reduce the cost of drug therapy. Keywords: Glaucoma, Percentage cost variation, Cost ratio.

Comparative analysis of the cost of pharmacotherapy schemes for patients with rheumatoid arthritis

Rheumatoid arthritis (RA) is an unpredictable and progressive inflammatory disease of the joints of an immune nature, which in general for various reasons reduces the life expectancy of patients by 5 to 10 years. Pharmacotherapy of RA is based on long-term use of a large number of drugs of different pharmacotherapeutic groups, the cost of which varies significantly. The above makes the study of economic parameters of RA treatment an urgent problem.
 The aim of the study was to analyse the cost characteristics of pharmacotherapy of inpatients with RA in a hospital in order to optimize the cost of medication for these patients.
 The data of medical cards and medical records of 89 and 108 inpatients with RA, which were treated in the rheumatology department of the 4th Lviv City Clinical Hospital in 2009 and 2019, respectively, were selected as objects of the study. The methods of information retrieval, mathematical statistics, frequency, comparative, content analysis, data generalization, cost analysis were used.
 Disease-modifying antirheumatic drugs (DMARDs), glucocorticosteroids (GCs), and nonsteroidal anti-inflammatory drugs (NSAIDs) were grouped into six schemes for the RA pharmacotherapy in 2009 and 2019. An increase in the number of appointments of those schemes in which DMARDs were used has been established. The maximum share in both analysed periods was occupied by the triple pharmacotherapy scheme, which included all the above-mentioned drugs. This scheme was also the most expensive and its value at average retail prices (ARP) increased the most (9.4 times) from 2009 till 2019. During the analysed period, the average salary in Lviv region increased in 5.4 times, while the cost change indices (Ic) of different pharmacotherapy schemes, calculated on the basis of ARP, ranged from 6.9 for the two-component scheme with DMARDs and NSAIDs to 9.4 for the three-component scheme with DMARDs, GCs and NSAIDs. The analysis of affordability indices (Ia) showed that the most accessible was a two-component scheme, which included DMARDs and NSAIDs (Ia = 0.78). The study of the influence of the cost of the treatment schemes on the frequency of their prescribing using correlation analysis showed a very high dependence of these indices (R = 0.97). Pairwise correlations of pharmacotherapy appointment change indices (Iap) from Ic based on minimum (RPmin), maximum (RPmax) or average retail prices in Lviv pharmacies made it possible to establish a very high pair dependence of Iap from Ic calculated only on the basis of RPmax or ARP (R = 0.90).
 Thus, the analysis of patients' consumption of drugs for pharmacotherapy RA in the hospital allowed us to establish that in 2019 the treatment of RA became less available in comparison to 2009.

Binary Logistic Regression Modeling on Net Income of Pagar Alam Coffee Farmers

Pagar Alam Coffee is a Besemah coffee originating from the Smallholder Plantation in South Sumatra, Indonesia. The majority of Pagar Alam coffee farming is a hereditary business. Coffee farmers' income is very dependent on coffee production, production costs, and coffee prices. This study aims to obtain a probability model of Pagar Alam coffee farmers income based on the factors that influence it. The independent variables studied were the number of dependents, economic conditions, number of trees, age of trees, frequency of fertilizer used, frequency of pesticide used, production at harvest time, production outside harvest time, number of women workers outside the family, minimum price of coffee, maximum price of coffee, farmers' gross income, and land productivity. Modeling used binary logistic regression method on 179 respondents. There were three methods used, i.e. enter method, forward and backward methods. The model using enter method results the greatest prediction accuracy which is 87.7%. The factors that have a significant influence on the net income of Pagar Alam coffee farmers are gross income, land productivity, and the number of women workers from outside the family. The most influential variable is gross income.

How Much Value Would a Treatment for Alzheimer's Disease Offer? Cost-Effectiveness Thresholds for Pricing a Disease-Modifying Therapy.

Recent trials suggest that disease-modifying therapy (DMT) for Alzheimer's disease may become available soon. With the expected high price and a large patient pool, the budget impact will be substantial. We explore combinations of effectiveness and price under which a DMT is cost-effective. We used an open-source model to conduct two-way scenario analyses for both payer and societal perspectives, varying price, and treatment effect size simultaneously. The analysis generates costeffectiveness threshold prices over a potential range of DMT effectiveness in patients aged 65+ with mild cognitive impairment due to Alzheimer's disease in the US. Under the willingness-to-pay a threshold of $150,000 per quality-adjusted life year and assuming 30% risk reduction relative to the standard of care, the maximum cost-effective price of a DMT per patient per year is ~$22,000 and ~$15,000 from societal and payer perspectives, respectively. Joint variation of price and treatment effect size can help assess the cost-effectiveness of a potential Alzheimer's disease treatment.

Pandemia, Crise e Intervenção

Este artigo está voltado a explicar as consequências econômicas decorrente de uma pandemia, circunstância em que o advento da crise não é induzido de maneira endógena ao sistema financeiro. A análise está dividida em duas partes. A primeira delas estará voltada aos efeitos que uma doença contagiosa e mortal tem na escala valorativa dos agentes econômicos e em sua preferência temporal e como isso é responsável por distorcer a estrutura produtiva e dar origem a uma crise econômica. Em seguida, passaremos a analisar os tipos de intervenção mais comuns em tempos de pandemia, tais como quarentena, estabelecimento de preços máximos, regate as empresas e subsídios a determinados agentes. Desta forma, pretende-se explicar como o uso destas políticas acabam por agravar a tragédia e de que maneira o Estado deveria atuar neste cenário.

An assessment of consumer behavior in the quality to price relationship of tomatoes in the Slovak Republic environment

The aim of this research was to compare consumer expectations of quality of tomatoes based on disclosed price and later estimate the unknown price of tomatoes based on its tasting. One hundred six participants tasted four types of tomatoes with disclosed prices and with unknow prices and fulfilled the questionnaire. We focused on analysing how recognition of prices affects customer behaviour and price estimation of additional products. Using descriptive statistics and machine learning techniques in WEKA software we got results. The findings of this study corroborate that the knowledge of current prices significantly affected participants’ perception of the quality of the tomatoes being tasted; affected 63,21% students’ maximum price limits that they are willing to pay for tomatoes and make 32,77% of students use known prices and its rounded values to evaluate prices of additional products.

Going, going, gone: competitive decision-making in Dutch auctions

In a Dutch auction, an item is offered for sale at a set maximum price. The price is then gradually lowered over a fixed interval of time until a bid is made, securing the item for the bidder at the current price. Bidders must trade-off between certainty and price: bid early to secure the item and you pay a premium; bid later at a lower price but risk losing to another bidder. These properties of Dutch auctions provide new opportunities to study competitive decision-making in a group setting. We developed a novel computerised Dutch auction platform and conducted a set of experiments manipulating volatility (fixed vs varied number of items for sale) and price reduction interval rate (step-rate). Triplets of participants (N=66) competed with hypothetical funds against each other. We report null effects of step-rate and volatility on bidding behaviour. We developed a novel adaptation of prospect theory to account for group bidding behaviour by balancing certainty and subjective expected utility. We show the model is sensitive to variation in auction starting price and can predict the associated changes in group bid prices that were observed in our data.

Methodology of Economic Assessment of Forest Resources, Concerning Forest Conditions and Their Impact on Wood Quality

The present study aims to develop a methodology for forest economic assessment using forest protection strips as an example. Environmental (soil composition) and biological factors (tree species) effecting the wood quality in the south European part of Russia are taken into account. The studies were conducted from 2010 to 2017 in six regions of the south European part of Russia. In this area, a total of eight dominating tree species lying in forest shelterbelts were examined. The wood price in different natural zones was determined by two factors: stem wood volume (maximum volume and price in the forest-steppe, minimum in the dry steppe) and edaphic conditions. Stand wood compared to the forest have a high price, since the former consists mainly of one species that dominates in the upper tier whereas the forest usually includes a minimum of two to four species. The natural zone is of paramount importance for the formation of the economic potential of eight species studied. We observed maximum indices for oak and larch under conditions of a forest-steppe, two to eight times greater compared to the species present in the steppe. The same type of plant (oak), depending on conditions, can produce wood of different values based on different natural zones, with a difference in prices varying two to five times than the original price.

An inquiry of the nature and causes of price variation in vegetable marketing system of Bangladesh

The study was conducted to examine the nature of vegetable price variation from farmers to different traders through different marketing channels and identified some factors that were causes for vegetable price variation. On the basis of vegetable trader, five marketing channels identified which responsible for transporting vegetables from farmer to consumer. This study pointed out that the maximum price variation chain is Farmer ? Wholesaler ? Agent ? Retailer ? Consumer. This study also explored that price variation has a positive relationship with the increase of trader’s number and several times price variation executed in retailers’ level. Sometimes new trader arrivals in retail level which depends on the nature of vegetable deterioration. The majority farmers and traders remarked that price variation is occurred due to high input cost, high transportation cost, and traditional marketing system

Energy and exergy prices of the jet kerosene fuel with carbon emission equivalents for an aircraft used in the air transport sector in Turkey

Purpose The purpose of this study is to evaluate the energy and exergy prices and carbon emission equivalents of the jet kerosene (Jet A-1) fuel considering 12 months data for an air craft used in the air transport sector in Turkey. Design/methodology/approach In the selection of the energy resources, one of the most important factors besides the need is the price of the energy resources. To use and save the energy resources efficiently, the prices should be evaluated in terms of exergy too. In this context, the exergy prices and carbon emission equivalents of the jet kerosene fuel have been examined. Findings According to analysis results, after January 2020, a steady decline in energy prices has been obtained until April 2020. In this regard, directly proportional changes have been obtained in exergy prices. The minimum exergy price of the fuel is calculated as 74.36 US cents/kWh for April 2020, while the maximum exergy price of the fuel is calculated as 150.02 US cents/kWh for September 2019. The minimum exergy price based carbon emission equivalents for the jet kerosene fuel is determined as 1,099.98 US cents/kg for April 2020, while the maximum exergy price based carbon emission equivalents for the jet kerosene fuel is found to be 2,219.29 US cents/kg for September 2019. Originality/value The new contribution has been made to the open literature by examining the energy and exergy prices of the jet kerosene fuel. In addition, the carbon emission equivalents of the jet kerosene fuel have been determined not only energy but also exergy methods.

A big divide in prices of lactobacillus preparations in India

There exists a wide range of variation in the prices of drugs marketed in India and other parts of the world. In the Indian market, various probiotic drugs of different brands, different combinations and different dosage forms are available. To evaluate the cost of Lactobacillus combinations of different brands of one dosage form and difference in cost of different brands of the same dosage form by calculating the percentage variation of cost. The retail cost of different Lactobacillus combinations being manufactured by different companies, in the same dosage form was compared. The difference in the maximum and minimum price of the same dosage form manufactured by different pharmaceutical companies was calculated and the percentage variation in price of same dosage form was calculated. Among Lactobacillus combinations of different dosage forms, the percentage variation in price of powder form, tablet form, capsule form and liquid dosage form were 380.7%, 578.5%, 3446.6% and 338.3% respectively. The average percentage price variation of different brands of Lactobacillus combinations of the same dosage form manufactured in India was very wide. The appraisal and management of selling drugs should be directed towards maximizing the advantages of therapy and minimizing negative personal and economic outcomes.

A dynamic network analysis of spot electricity prices in the Australian national electricity market

Abstract This study applies dynamic network analysis to the power sector, examining the relationship between regional spot electricity prices in the Australian National Electricity Market (NEM). In particular, we employ principal component analysis and generate Granger causality networks to examine the degree of interconnectedness of the NEM in a time-varying setting. We find that the derived measures of interdependence can be related to actual market events such as price spikes, unexpected high demand for electricity, sudden increases in price volatility, rebidding of dominant generators, the temporary or permanent outage of major power stations, and upgrades and limitations in transmission capacity. In the analysed network, we find that stronger dependence is exhibited by regional markets that are linked through interconnectors, while the direction of Granger causality can be related to interregional trade. We further examine the usefulness of the derived measures for forecasting distributional characteristics of spot prices such as the maximum price, volatility, price spreads, or upcoming periods of price spikes. Our results suggest that the derived network measures have predictive power, albeit limited, for the behaviour of spot electricity prices in the NEM.

Value of mesenchymal stem cell therapy for patients with septic shock: an early health economic evaluation.

This study estimates the maximum price at which mesenchymal stem cell (MSC) therapy is deemed cost-effective for septic shock patients and identifies parameters that are most important in making treatment decisions. We developed a probabilistic Markov model according to the sepsis care trajectory to simulate costs and quality-adjusted life years (QALYs) of septic shock patients receiving either MSC therapy or usual care over their lifetime. We calculated the therapeutic headroom by multiplying the gains attributable to MSCs with willingness-to-pay (WTP) threshold and derived the maximum reimbursable price (MRP) from the expected net monetary benefit and savings attributable to MSCs. We performed scenario analyses to assess the impact of changes to assumptions on the study findings. A value of information analysis is performed to identify parameters with greatest impact on the uncertainty around the cost-effectiveness of MSC therapy. At a WTP threshold of $50,000 per QALY, the therapeutic headroom and MRP of MSC therapy were $20,941 and $16,748, respectively; these estimates increased with the larger WTP values and the greater impact of MSCs on in-hospital mortality and hospital discharge rates. The parameters with greatest information value were MSC's impact on in-hospital mortality and the baseline septic shock in-hospital mortality. At a common WTP of $50,000/QALY, MSC therapy is deemed to be economically attractive if its unit cost does not exceed $16,748. This ceiling price can be increased to $101,450 if the therapy significantly reduces both in-hospital mortality and increases hospital discharge rates.

ВИКОРИСТАННЯ МЕТОДУ ПОСЛІДОВНИХ ПОСТУПОК ДЛЯ РОЗВ’ЯЗУВАННЯ ЗАДАЧІ ПІДВИЩЕННЯ СОБІВАРТОСТІ ПРОДУКЦІЇ

The processes of optimization of the production plan according to certain criteria were investigated. One of the problems is the difficulty of coordination and taking into account the impact of criteria on the optimal production plan. In practice, every company often faces tasks that require decisions that are quite complex and significantly affect the result. The choice of the best solutions is usually made by using a single numerical function - the criterion of optimality. The best solution is one that provides the maximum (or minimum) of the selected criterion. For the most part, the quality of decisions is characterized not by one but by many incomparable criteria. Therefore, it is necessary to make decisions based not on one but on many criteria. That is why the investigation and implementation of multicriteria models is an important stage in the development of modern science. The current rate of change in production is very high. To meet new needs and maintain the competitiveness each enterprise, firm, company must be able to make fast and correct decisions. Properly formed production program allows companies to meet the needs of consumers in products that are produced with the best use of resources, and get the maximum profit. Quite often there is a need to use mathematical methods to study this problem. The results obtained by solving a mathematical problem will make it possible to make optimal recommendations for certain actions. The main purpose of the company is usually to make a profit. One of the factors on which profit depends is the cost price. In view of this, an optimization model of the problem of increasing the cost price was proposed. The maximum price of manufactured products and the minimum costs for production was taken as criteria. At the same time it is impossible to ensure the maximum price and minimum production costs. Therefore, the solution was achieved by step-by-step solution of the proposed mathematical model of optimization of the production plan using the idea of the method of successive concessions, which would provide a certain price at low cost. An example shows an algorithm for solving this problem.

Closing the Monetary Policy Curriculum Gap: A Primer for Educators Making the Transition to Teaching the Fed's Ample-Reserves Framework

<ns2:p>The Federal Reserve (the Fed), the central bank of the United States, has a Congressional mandate to promote maximum employment and price stability. While those goals were articulated in 1977, the approach and tools used to implement those objectives have changed over time.</ns2:p>