Price Limits Research Articles

Analisis Reaksi Pasar Terhadap Perubahan Auto Rejection 15% Menjadi Auto Rejection Simetris

The condition of the global economy is likely to be experiencing fluctuations from the effects of ecological 19, which affect many sectors of one of the capital markets. Capital markets are affected by fluctuating prices, asa result of these events countries are implementing such policies as price limit (auto excess). Bank Indonesia the central bank/bi decided to raise its key rate by 25 basis points to 8.25 percent. At the current substandard auto drops to 7%. to June 5, 2023 to 15%, and now auto symmetrical again. This condition certainly triggers market reactions. Therefore the purpose of this study is to recognize market responses asa result of these changes in policy. The study population is 55 companies registered in the Indonesia stock exchange (bei). For sample retrieval techniques conducted by simple random sampling methods by taking out 5 companies in all sectors in bei. The data analysis that was used was Shapiro wilk's test for the normality of data, and a hypothetical test used wilxocon signed rank because of insufficient data distribution. Test one specimen t-test and test specimen t-test shows no abnormal return differences in previous and previous periods of auto policy change. But there are differences before and after in the variable trade volume.

Preferensi dan Kesediaan Membayar Konsumen Terhadap Kantong Belanja Ramah Lingkungan di Provinsi DKI Jakarta

As a form of commitment to reducing the amount of plastic waste in the environment, DKI Jakarta Province has issued Governor Regulation Number 142 of 2019 concerning the Obligation to Use Environmentally Friendly Shopping Bags in Shopping Centers, Supermarkets and People's Markets. On the roadmap proposed by the United Nations Environment Agency, Governments developing policies will need to verify the existence of valid alternatives before banning plastic bags. However, in this regulation, the type, size, material, price and sales of eco-friendly shopping bags are the responsibility of the business actor. The definition of a reasonable price, type, size, and material of shopping bags provided by business actors in this regulation is not clear and can lead to different perceptions, causing the implementation of this regulation to be ineffective. In this study, the types and price limits of eco-friendly shopping bags were analyzed based on the perception and willingness of the public as consumers to facilitate the implementation of regulations related to the use of eco-friendly shopping bags, especially in DKI Jakarta Province. This study uses a qualitative approach by conducting a survey of 406 female respondents with an age range of 18-40 years who live in DKI Jakarta Province. Conjoint analysis is used to determine preferences for eco-friendly shopping bags using SPSS version 24. Consumers' willingness to pay for eco-friendly shopping bags is analyzed using the Contingent Valuation Methode (CVM) approach. Based on the research results, consumers prefer eco-friendly shopping bags that are made of cloth, can be reused, and prefer to bring or provide them themselves rather than being provided by businesses but paying a fee. According to consumers, material attributes are the most important, followed by environmental and economic attributes. If required to pay, 28% of respondents are willing to pay with higher price than the average estimated price of consumers' willingness to pay (WTP), which is IDR 2,380 a piece. The government can use the results of an analysis of people's preferences and willingness to formulate the policies.

Nash bargaining based integrated energy agent optimal operation strategy considering negotiation pricing for tradable green certificate

Reasonable tradable green certificate (TGC) price is the key to guiding the orderly transaction of market agents. However, there is little literature on the negotiation pricing of green certificates, especially the multi-agent cooperation optimization operation strategy for green certificate negotiation. To improve the enthusiasm for TGC transactions and the low-carbon economy of the system, this paper studies TGC negotiation and cooperative operation among multi-agents of integrated energy. Firstly, under the influence of the supply and demand relationship and renewable energy generation cost on TGC price, a variable TGC price limit model is constructed. Secondly, the TGC-carbon emissions transaction (CET) interaction mechanism is introduced to the endogenous motivation for TGC transactions. Then, a Nash bargaining theory is used to establish an integrated energy multi-agent cooperative game model based on TGC negotiation pricing. Finally, the non-convex nonlinear model is transformed into a subproblem of distributed solution by ADMM principle, and the AS-ADMM algorithm is used to solve it. The example shows that the model proposed in this paper effectively promotes the transaction volume of green certificates between the agents. Compared with the non-cooperative situation, the transaction volume increased by 20.83%, indicating that the agent's enthusiasm for TGC transactions was improved, and the number of transactions exceeded their liability quotas.

Integrated model of product manufacturing cycle time estimation

In modern business conditions, companies engaged in individual and small-batch production are faced with one of the key tasks of production management, which refers to weekly and, very often, daily production planning. Short delivery times, limited prices, and high requirements regarding the quality and method of product delivery all require timely planning of production capacities, tools, and devices, as well as the number of workers and their allocation to individual jobs. In such production conditions, which are determined by the market, it is of particular importance to determine the production time of the product quickly and qualitatively, including the production price, within the framework of making an offer according to the customer's demand. The paper presents a cycle time estimation model as a part of the overall product manufacturing time, using ANN and fuzzy neural networks.

Price limits hitting effect and cross-sectional stock returns: Evidence from China

We propose a firm-level measurement which relates the strength of stocks affected by the upper or lower price limits in China. Stocks that frequently hit the upper limit generate substantially lower future stock returns. This effect is significant when we control common factors of asset pricing models. The negative relationship between price limits and expected returns is stronger among micro, growth, and state-owned firms, and is also stronger during bull markets. Moreover, we find this effect could be explained by behavioral mispricing such as overreacted trading.

From Gambling to Gaming: The Crowding Out Effect

This paper investigates how noise trading behavior is influenced by limited attention. As the daily price limit rules of the Chinese stock market provide a scenario for the exhibition of salient payoffs, speculators elevate prices to attract noise traders into the market. Utilizing a series of distraction events stemming from mobile games as exogenous shocks, we obtain statistical evidence that the gambler-like behavior, termed as “Hitting game” may be crowded out. Consistent with our attention mechanism, indicators such as trading volume decline in response to these game shocks.

Price limit relaxation and stock price crash risk: Evidence from China

This paper investigates the impact of price limit relaxation on stock price crash risk, based on the change in the daily price limit in the ChiNext market in August 2020. We find that the widening of price limits significantly reduces stock price crash risk. This result is robust to parallel trend and placebo tests. Furthermore, we show that widening price limits can help lower information asymmetry between informed and uninformed traders, thereby decreasing bad news hoarding and reducing stock price crash risk.

Evaluation of Offshore Project Development under Two Fiscal Regime in Indonesia

The general characteristics of deep water offshore field development are the uncertainty of geological conditions, high technology requirements and development costs, and volatility of oil and gas prices. Despite these challenges, the development of a deep water offshore field remains a strategic project for sustainable economic growth. This study will evaluate the impact of current fiscal of the three offshore field development and estimates the limits of oil and gas price, reserves, and expenses. The intention is to obtain the optimal conditions to encourage the development of new offshore fields. The approached will used a discounted cash flow modelling, followed by evaluate the profitability risk using deterministic and stochastic sensitivity analysis. Monte Carlo simulation used to take into account the uncertainty of several variables, such as oil and gas prices, operating costs, development costs, and reserves. The result shows that investment decisions for the development of new and/or extensions fields in offshore areas remain quite challenging economically, considering to the high development and operating costs, as well as fluctuating of oil and gas prices. The opportunity to obtain a positive net present value on new deep water offshore development fields is less than 41%, thus indicates that further initiative of cost efficiency and fiscal incentive is required in preparing investment planning of new deep water offshore field to compensate the high development and operational cost.

A Combined Gas and Liquid Chromatographic Approach for Quality Evaluation of Saffron-Based Food Supplements.

Considering the interest in the bioactive properties of saffron (Crocus sativus L.), as well as its limited production and high price, saffron-based food supplements (SFS) are highly susceptible to adulteration. However, their complex composition and the wide variety of potential fraudulent practices make the comprehensive assessment of SFS quality a challenging task that has been scarcely addressed. To that aim, a new multianalytical strategy based on gas chromatography coupled to mass spectrometry (GC-MS) and liquid chromatography with diode array detection coupled to mass spectrometry (HPLC-DAD-MS) was developed and validated in order to detect different frauds affecting SFS. Dried saffron stigmas and a commercial standardized saffron extract (affron®) were selected as reference samples (RS) to obtain an authenticity profile, which was further used to evaluate the quality of 17 SFS. Up to 17 crocins and crocetins, 5 kaempferol glycosides, picrocrocin (determined for the first time by GC-MS), safranal, furanone and isophorone-related compounds were determined in RS. Safranal and crocins were identified in all SFS except for one sample. However, discrepancies with the content declared were detected in 65% of the cases. Moreover, this multianalytical methodology also allowed identifying undeclared additives and the non-declared addition of vegetable sources other than saffron.

The Impact of Scarcity Marketing Models on Consumer Behavior in the Luxury Industry - The Case of Hermes

With the continuous development of China's economic level, major luxury brands have entered the Chinese market one after another. People's rising living standards and more disposable income provide a strong impetus for the development of the luxury goods industry. At the same time, the luxury industry is also facing the challenges of market expansion and balancing product scarcity. The study analyzes the impact of scarcity marketing on consumers and puts forward feasible suggestions through the combination of scarcity marketing theory and Maslow's demand theory. On the base of a comprehensive analysis of the existing literature, the study summarizes and analyzes the advantages and disadvantages of scarcity marketing in the luxury goods industry. This study demonstrates the successful application of scarcity marketing by combining the case of Hermes. Hermès created the scarcity and uniqueness of products through limited sales, high pricing, and distribution system, which stimulated consumers' desire to buy and product sales. However, this also brings some negative effects including queuing, hype, limiting market size, intensifying market competition, and damaging brand reputation. Therefore, this study puts forward a number of feasible suggestions including formulating diversified pricing strategies, providing differentiated products and services, and strengthening brand social responsibility.

Product-Based Collaborative Filtering Recommendation System for E- Commerce

Recommendation System are an application of ML. RS in any E-commerce websites are an important aspect as they are needed to satisfy the customers and for a better user experience. They help to suggest the best possible products a user might want to buy. The Product- based Collaborative Filtering is used in RS to suggest the desired products in an efficient way. They will allow a customer using the website to buy a product of a particular brand or of a certain price limit. Further it will not need much struggle as it will use the previous history of the user to recommend the products. This method can further enhance the UI. Further RS also has its roots in DL where we can use Neural networks for the RS.

Attention Spillover in Asset Pricing

ABSTRACTExploiting a screen display feature whereby the order of stock display is determined by the stock's listing code, we lever a novel identification strategy and study how the interaction between overconfidence and limited attention affect asset pricing. We find that stocks displayed next to those with higher returns in the past two weeks are associated with higher returns in the future week, which are reverted in the long run. This is consistent with our conjectures that investors tend to trade more after positive investment experience and are more likely to pay attention to neighboring stocks, both confirmed using trading data.

Biomass price as a key factor for the further development of biogas and biomethane use – Methodology and policy implications

Intentionally planted biomass is one of the important possible sources for biomethane production. The production cost of biomass plays a key role in both a farmer's decision to grow it and the efficiency of biomethane production. Unlike conventional agricultural crops, biomass grown for biogas or biomethane plants does not have a direct market price. The paper presents a methodology for determining the limit of biomass production price based on modelling lost revenue from planting conventional crops over the lifetime of the biogas or biomethane plant, considering local agrotechnical practices and soil and climatic conditions. The application of the methodology is demonstrated by providing maize biomass for a reference biogas plant and conditions of the Czech Republic. The production price of maize silage is in the range of 25.6–29.4 EUR/tFM for base line scenario of conventional crop prices. The increase in commodity prices in 2021 and 2022 leads to an increase in the biomass production price up to 34–43 EUR/tFM. The paper also discusses the influence of the biomass input price on the cost of biomethane production.

Does price limit improve price discovery? Evidence from IPO market in a quasi-natural experiment

The two major Chinese stock exchanges imposed a new trading rule with a price-move limit of 44% on the first trading day for IPOs after 2013. Following this quasi-natural experiment, market sentiment on IPOs drastically rises, resulting in extreme price run-up in initial trading days. Newly listed stocks under the trading rule experience greater illiquidity, higher turnover and volatility than earlier ones. Account-level data from the Shanghai Stock Exchange shows that following the new rule, net buyers of IPO change from institutional to retail investors. The evidence suggests that this price limit delays price discovery by arousing sentiment and crowding out informed investors.

Impact of carbon price on Indonesia’s power sector up to 2050

This study uses TIMES model to assess Indonesia’s power sector’s carbon price impact from 2020 to 2050 and the price needed by 2030 to meet the Paris Agreement NDC target. Four scenarios are used to model the impact of carbon price up to 2050: no carbon price, Indonesia’s current price of USD 2.02/tCO2e, ICPF middle- and high-income countries, USD 50/tCO2e and USD 75/tCO2e. Four price scenarios—10, 25, 35, and 150 USD/tCO2e —are added to better understand the carbon price’s effects. As carbon prices rise, installed capacity and power generation will shift to lower-carbon technology. Ultracritical coal, gas-fired, solar, geothermal, and hydropower plants will replace subcritical coal. Investment, fixed, and variable costs would exceed BaU with a higher carbon price. 2.02 to 25 USD/tCO2e can start the coal-to-gas switch but not significantly change the generation profile. The generation will change significantly above 35 USD/tCO2e. Carbon emissions peak lower with rising carbon prices. USD 25 carbon price reduces emissions significantly; a carbon price below that is costly and ineffective. Indonesian Law No. 16 of 2016 ratified the Paris Agreement NDC, committing Indonesia to reduce greenhouse gas emissions by 29% by 2030 or 41% with international assistance. Energy sector emissions need to decrease by 11% for a 29 percent reduction and 14% for a 41 percent reduction. A 29% reduction requires USD 39.65/tCO2e carbon price, while a 41% reduction requires USD 43.78/tCO2e. These prices are still within the reasonable ICPF price limit for Indonesia to approach the middle-income country price floor.

Forecasting household energy consumption based on lifestyle data using hybrid machine learning

Household lifestyle play a significant role in appliance consumption. The overall effects are that, it can be a determining factor in the healthy functioning of the household appliance or its abnormal functioning. The rapid growth in residential consumption has raised serious concerns toward limited energy resource and high electricity pricing. The propose 134% electricity tariffs adjustment by Electricity Company of Ghana (ECG) at the heat of economic hardships caused by Covid-19 has raised serious public agitation in Ghana (west Africa) . The unpredictable lifestyle of residential consumers in an attempt to attain a comfortable lifestyle and the rippling effects of population growth burdens energy demand at the residential sector. This study attempts to identify the lifestyle factors that have great influence on household energy consumption and predict future consumption of the household with mitigating factors to cushion the effects on high consumption. The study is based on lifestyle data using hybrid machine learning. The hybrid model achieved high accuracy (96%) as compared to previous models. The hybrid model performance was evaluated using mean absolute percentage error (MAPE), root mean square error (RMSE) and correlation coefficient (R) metrics.

Who bears the risk? Incentives for renewable electricity under strategic interaction between regulator and investors

Energy policies for promoting investment in renewable energy sources have become crucial for deploying green energy technologies worldwide. Conventional incentive systems assign risk to either policymakers or investors. In this paper, we combine option theory and game theory to obtain optimal parameters for incentive schemes with different degrees of risk-sharing. We present an empirical application to the Spanish electricity market for 2013, when the Feed-in Tariff scheme was still in force, and for 2019, when Feed-in Tariffs had been completely phased out but before the demand shock caused by COVID-19, the restructuring of market price limits, and the recent energy price crisis in Europe. Our results indicate that there are more flexible systems based on Fixed Tariffs and Premiums that can outperform conventional designs, since they may enable the same investment level to be reached at a lower regulatory cost. In addition, these hybrid schemes permit risk-sharing between both parties. Our results may also be useful for designing incentives awarded through competitive auctions.

Choosing annuities for a home reversion: the case of the French viager market

PurposeThe authors analyzed annuitization preferences when retired people extract cash from their homes. Based on 2,608 viager (home reversion) transactions, the authors study the relations between annuitization, negotiation, cash extraction, age, gender and marital status.Design/methodology/approachA database comprising 2,608 transactions is used. The three-stage least squares (3SLS) and moderation models are implemented, with a focus on potential adverse selection issues.FindingsThe authors found that difficulties in selling a property generally result in increased annuitization. The single men's group endures gender inequality, suffering from limitations in their possibility to extract wealth and annuitize, as well as an additional price discount during negotiation. Young single men, as compared to young single women and young couples, must consent to a substantial price reduction if they prefer a high down payment and limited price reductions if they prefer annuities. Elderly single men, as compared to young single men, have less capacity to negotiate, a concern that is reinforced when they prefer annuities.Originality/valueAmong the home equity conversion products, the academic real estate literature has intensely analyzed the reverse mortgage. The viager is distinct from a mortgage in that it consists of the true sale of a property without bank involvement. This product deserves reinforced attention in an aging continental Europe. It exists in numerous countries (France, Belgium, Germany, Italy, Spain, etc.).

How price limit affects the market efficiency in a short-sale constrained market? Evidence from a quasi-natural experiment

In this paper, we examine the joint effect of price limit and short-sale constraints on price discovery. Using a natural experiment in China, we show the exogenous relaxation of price limit improves price efficiency. Importantly, shortable stocks experience more improvement in price efficiency than non-shortable stocks. Event-study analysis further documents less delayed price discovery following the price-limit-hitting event on shortable stocks, which is explained by selling pressure from large institutional orders. Our findings suggest that alleviating shortsale constraints could synergize with the relaxation of trading restrictions to improve price efficiency.

Debunking True Purchase Price Limits in Teenagers

This project aims to explore whether or not the endowment effect, a concept in behavioral economics, holds true for adolescents, since this population has not been studied before. The endowment effect occurs when there is a gap between a buyer’s willingness to pay (WTP) and a seller’s willingness to accept (WTA) at a certain price. A WTA:WTP ratio equal to 1 would exhibit traditional economic rationality, and a ratio above 1 would exhibit the endowment effect. This study used survey research in the form of having participants explicit state prices, to investigate how the WTA-WTP discrepancy, a measurement of the endowment effect, varies across economic goods and survey procedure (or how survey questions were worded). The final conclusion that can be drawn from this paper is that high school students exhibit the endowment effect only for durable goods (shoes and electronics), and exhibit the reverse trend of the endowment effect for perishable goods (food and beverage). Additionally, the survey procedure and socioeconomic status were not a contributing factor to the endowment effect. These results, which differ from previous literature regarding the endowment effect, emphasize the increased importance of studying teenage purchasing pricing preferences, compared to prior studies that focused solely on undergraduate business students.