Flat Pricing Research Articles

Cost per responder analysis of abrocitinib versus dupilumab in moderate to severe atopic dermatitis.

The JADE COMPARE was a multicenter, phase 3 randomized, double-blind, placebo-controlled trial with the objective of comparing the 16-week efficacy and safety of oral abrocitinib 100 or 200 mg once daily, dupilumab 300 mg subcutaneous injection every 2 weeks, or placebo in adults with moderate-to-severe atopic dermatitis (AD). Pharmacoeconomic evaluation of these new drugs for AD is lacking. The objective of our study was to compare the cost per responder of abrocitinib versus dupilumab in patients with AD using the data from the JADE COMPARE trial. The cost per responder was calculated by multiplying the cost of treatment by the number needed to treat for each therapy, as obtained from the JADE COMPARE trial. The 12-week primary endpoint was the Investigator global assessment (IGA) 0/1 and eczema area and severity index improvement of at least 75% (EASI75) response rate. The key secondary end points were itch response (defined as an improvement of ≥4 points in the score on the Peak Pruritus Numerical Rating Scale [PP-NRS; scores range from 0 to 10]) at week 2 and IGA and EASI-75 responses at week 16. The cost per responder model was based on the perspective of the Italian National Health System. Regarding the costs of drugs, ex-factory wholesale purchase prices were used, including the mandatory discounts according to the national legislation (5% discount, plus a further 5% reduction on the discount result). Abrocitinib 100 mg and 200 mg have flat price in Italy. The 12-week IGA 0/1 cost per responder was € 3955.77 and € 2984.94 for abrocitinib 100 mg and 200 mg, respectively, versus € 7467.96 for dupilumab; as for 12-week EASI75 the cost were € 2463.30 and € 2057.58 vs. € 4705.09, respectively. As far as the secondary end points, the costs per responder were always lower for abrocitinib 100 and 200 mg compared to dupilumab, including the PP-NRS (€ 3791.55 and € 2451.22, vs. € 6462.65), the IGA 0/1 at week 16 (€ 6931.05 and € 4854.15 vs. € 8787.85) and the EASI75 at week 16 (€ 3984.75 and € 3381.00 vs. € 5197.45). According to JADE COMPARE trial data, the costs per responder of abrocitinib were considerably lower than dupilumab. The results of the study are limited to the short time frame of JADE COMPARE trial.

Photovoltaic sizing assessment for microgrid communities under load shifting constraints and endogenous electricity prices: A Stackelberg approach

Renewable energy resources are crucial for decarbonizing the energy sector. Distributed energy resources, such as renewable generation by microgrids, aid the transition to net-zero systems. As microgrids proliferate, renewable generation often exceeds self-supply capacities, necessitating either the sale of excess electricity or the implementation of demand-response strategies. The optimal approach for microgrids (selling or shifting demand) hinges on electricity prices. This article examines the interplay between microgrids, demand response, photovoltaic investments, and pricing mechanisms. A novel Stackelberg model is proposed to minimize microgrid investment and operational costs. The upper-level problem determines energy community investments and demand response levels based on electricity prices, while the lower-level problem addresses market dispatch and endogenous pricing for microgrids. Case studies with varying battery storage levels, demand response limits, and pricing mechanisms are conducted. The research results illustrate the responsiveness of market transactions to supply conditions and pricing. Key findings show that microgrid flexibility in demand response reduces grid dependency, prompting significant investments in solar energy and battery storage, driven by economic incentives, especially under spot market conditions. Investments in solar energy more than double when microgrids trade energy at spot prices compared to flat prices.

Gentrification and access to housing in Mexico City during 2000 to 2022

We conducted a spatial and temporal analysis of housing patterns in Mexico City by utilizing an extensive database of 16,000 prices for flats and houses, covering the period from 2000 to 2022. Our findings reveal a striking trend: The average housing prices have quadrupled over a 20-y period, without considering inflation. In contrast, the per capita labor income of Mexican citizens has declined relative to inflation. As a result, the average family encountered four times greater challenges in accessing housing in 2015 as compared to 2005. Furthermore, our research demonstrates that areas that have undergone significant gentrification or super-gentrification contribute to a widespread increase in land value on neighboring zones, leading to the emergence of clusters of highly expensive neighborhoods.

Techno-economic impact of electricity price mechanism and demand response on residential rooftop photovoltaic integration

Rooftop distributed photovoltaics show great potential for deep decarbonisation in the residential sector. However, the intermittency and undispatchability of photovoltaic output are urgent problems in the large-scale deployment of rooftop distributed photovoltaics. This study develops a techno-economic evaluation framework for rooftop distributed photovoltaics by comprehensively considering and exploring the uncertain effects of electricity price mechanisms, battery energy storage, demand response for residential flexible loads, and residential electricity demand difference to increase self-consumption and the economic benefits of rooftop distributed photovoltaics. The results show that electricity price mechanisms are the main factors affecting the economic benefits of rooftop distributed photovoltaics, which are more economical under time-of-use prices than under flat prices. Installing battery energy storage and participating in demand response for residential flexible loads can significantly improve self-consumption and self-sufficiency rates, and bring more electricity bill savings and less feed-in revenue. Specifically, the relative economic benefits of installing battery energy storage and demand response were greater at lower feed-in tariffs. Moreover, the greater the ratio of annual residential electricity demand to photovoltaic power generation, the greater the self-consumption rate. Further, only when battery energy storage is installed, the smaller the ratio, the greater the self-sufficiency rate. Consequently, the energy sector can design more efficient time-of-use pricing mechanisms and adopt lower feed-in tariffs to encourage residential consumers to deploy both rooftop distributed photovoltaics and battery energy storage and to participate in demand response.

Changing Electricity Tariff—An Empirical Analysis Based on Commercial Customers’ Data from Poland

Nearly 60% of commercial customers are connected to a low-voltage network in Poland with a contractual capacity of more than 40 kW and are assigned a fixed tariff with flat prices for the whole year, no matter the usage volume. With smart meters, more data about how businesses use energy are becoming available to both energy providers and customers. This enables innovation in the structure and type of tariffs on offer in the energy market. Customers can explore their usage patterns to choose the most suitable tariff to benefit from lower prices and thus generate savings. In this paper, we analyzed whether customers’ electricity usage matched their optimal tariff and further investigated which of them could benefit or lose from switching the tariff based on the real dataset with the hourly energy readings of 1212 commercial entities in Poland recorded between 2016 and 2019. Three modelling approaches, i.e., the k-nearest neighbors, classification tree and random forest, were tested for optimal tariff classification, while for the benchmark, we used a simple approach, in which the tariff was proposed based on the customers’ previous electricity usage. The main findings from the research are threefold: (1) out of all the analyzed entities, on average, 76% of them could have benefited from the tariff switching, which suggests that customers may not be aware of the tariff change benefits, or they had chosen a tariff plan that was not tailored to them; (2) a random forest model offers a viable approach to accurate tariff classification; (3) the policy implication from the research is the need to increase the customers’ awareness about the tariffs and propose reliable tools for selecting the optimal tariff.

Capacity investment decisions of energy storage power stations supporting wind power projects

PurposeRapidly increasing the proportion of installed wind power capacity with zero carbon emission characteristics will help adjust the energy structure and support the realization of carbon neutrality targets. The intermittency of wind resources and fluctuations in electricity demand has exacerbated the contradiction between power supply and demand. The time-of-use pricing and supply-side allocation of energy storage power stations will help “peak shaving and valley filling” and reduce the gap between power supply and demand. To this end, this paper constructs a decision-making model for the capacity investment of energy storage power stations under time-of-use pricing, which is intended to provide a reference for scientific decision-making on electricity prices and energy storage power station capacity.Design/methodology/approachBased on the research framework of time-of-use pricing, this paper constructs a profit-maximizing electricity price and capacity investment decision model of energy storage power station for flat pricing and time-of-use pricing respectively. In the process, this study considers the dual uncertain scenarios of intermittency of wind resources and random fluctuations in power demand.Findings(1) Investment in energy storage power stations is the optimal decision. Time-of-use pricing will reduce the optimal capacity of the energy storage power station. (2) The optimal capacity of the energy storage power station and optimal electricity price are related to factors such as the intermittency of wind resources, the unit investment cost, the price sensitivities of the demand, the proportion of time-of-use pricing and the thermal power price. (3) The carbon emission level is affected by the intermittency of wind resources, price sensitivities of the demand and the proportion of time-of-use pricing. Incentive policies can always reduce carbon emission levels.Originality/valueThis paper creatively introduced the research framework of time-of-use pricing into the capacity decision-making of energy storage power stations, and considering the influence of wind power intermittentness and power demand fluctuations, constructed the capacity investment decision model of energy storage power stations under different pricing methods, and compared the impact of pricing methods on optimal energy storage power station capacity and carbon emissions.HighlightsElectricity pricing and capacity of energy storage power stations in an uncertain electricity market.Investment strategy of energy storage power stations on the supply side of wind power generators.Impact of pricing method on the investment decisions of energy storage power stations.Impact of pricing method, energy storage investment and incentive policies on carbon emissions.A two-stage wind power supply chain including energy storage power stations.

Green Space at New Housing Estates: Flat Price Versus Accessibility to Good Quality Greenery

Green areas positively affect human health. It applies in particular to greenery in a direct neighbourhood of the housing. We analysed new housing estates in Poznan, Poland. Greenery quality was assessed according to developed factors, based on data about the area of the greenery in comparison with the area covered by hardscapes within the site; pre-existing greenery inventories; new greenery inventories; green area functions and accessibility. In the second stage of research, we compared data about greenery quality to information concerning economic value of the statistic flat in the estate. The average area of greenery in relation to the area of the plot was 40.16% for prestigious investments and 41.62% for less prestigious ones. The median value of WU (‘Socialisation rate’ indicator designed for this research) for prestigious investments was 0.035 and for less prestigious investments it was 0.226. The research showed that the price of flats does not affect the quality of residential greenery. Less prestigious (cheaper) flats have the same or even better access and quality of greenery in the estate. Developers do not take actual actions in the field of environmental compensation, which leads to lowering of the quality of greenery and public space.

Improving the Accuracy of Biologic Drug Survival Data: The Increasing Prevalence of Off-Label Dosing Must Be Considered when Reporting Drug Effectiveness and Safety

Improving the Accuracy of Biologic Drug Survival Data: The Increasing Prevalence of Off-Label Dosing Must Be Considered when Reporting Drug Effectiveness and Safety

Disamenities of living close to transit tracks: Evidence from Singapore's MRT system

This study empirically tests how disamenities associated with Mass Rapid Transit (MRT) tracks affect public housing prices in Singapore. Residents living near aboveground rail tracks are more affected by MRT train noise than those living near underground rail tracks. Prices of public housing flats near the aboveground tracks are higher than those near the underground tracks by 3%–4% for every 1 km away from the MRT rail tracks. We use the erection of noise barriers on the selected segments of MRT tracks to mitigate noise effects as the shock in the models. The results show that housing prices increased by 2% and 3% for every 1 km reduction in distance to the segments of MRT tracks with new noise barriers after the announcement and completion of the projects, respectively. The welfare gains of the noise barrier project accrued to public housing residents near the noise-mitigating segments of rail tracks are estimated to be more than 700 million Singapore dollars.

Housing prices during the COVID-19 pandemic: insights from Sweden

The COVID-19 pandemic triggered a major global economic recession, to which policymakers around the world responded with massive fiscal and monetary support. While housing prices generally fall during economic downturns, they have risen during the pandemic in all OECD countries. A number of factors may have contributed, including expansionary monetary policy, the lifting of some macro-prudential constraints and a shift in housing preferences. This paper uses monthly data to examine the behaviour of real house and flat prices during the pandemic in Sweden, at the national level and in the three biggest cities. While a model containing usual determinants of housing prices tracked price developments well before the pandemic, it underestimates house prices and generally overestimates flat prices in the pandemic period. This suggests a preference shift from flats towards houses, which is consistent with findings from the recent literature on other countries. The introduction of mortgage amortisation requirements in 2016 and 2018 is estimated to have lowered housing prices. However, their lifting during the pandemic seems to have had a relatively minor effect on housing prices.

Information loss in volatility measurement with flat price trading

A model of financial asset price determination is proposed that incorporates flat trading features into an efficient price process. The model involves the superposition of a Brownian semimartingale process for the efficient price and a Bernoulli process that determines the extent of flat price trading. The approach is related to sticky price modeling and the Calvo pricing mechanism in macroeconomic dynamics. A limit theory for the conventional realized volatility (RV) measure of integrated volatility is developed. The results show that RV is still consistent but has an inflated asymptotic variance that depends on the probability of flat trading. Estimated quarticity is similarly affected, so that both the feasible central limit theorem and the inferential framework suggested in Barndorff-Nielsen and Shephard (J Royal Stat Soc Ser B (Stat Methodol) 64:253–280, 2002) remain valid under flat price trading even though there is information loss due to flat trading effects. The results are related to work by Jacod (J Financ Econom 16:526–569, 2018) and Mykland and Zhang (Ann Stat 34:1931–1963, 2006) on realized volatility measures with random and intermittent sampling, and to ACD models for irregularly spaced transactions data. Extensions are given to include models with microstructure noise. Some simulation results are reported. Empirical evaluations with tick-by-tick data indicate that the effect of flat trading on the limit theory under microstructure noise is likely to be minor in most cases, thereby affirming the relevance of existing approaches.

HPR146 What Are the Opportunities for Flat Pricing of Innovative Medicines Across the EU4 and UK?

HPR146 What Are the Opportunities for Flat Pricing of Innovative Medicines Across the EU4 and UK?

Identification of Regularities in Relation Between Prices on Primary and Secondary Housing Market in Selected Cities in Poland

Abstract The purpose of this study is to identify regularities in the price relations between primary and secondary housing markets. The primary market and the secondary market are two related but quite differentiated sub-segments of the residential market. They particularly differ in the qualitative features of their traded objects and, consequently, also in the prices recorded in their trading. Nevertheless, they remain under the influence of the same main factors of a macroeconomic nature. This gives rise to the research hypothesis that prices of flats quoted in the sub-segments of the residential market remain in specific relationships with one another. In an attempt to verify this hypothesis, the paper presents the results of an analytical work on the search for regularities in the relationship between prices on primary and secondary housing markets in selected Polish cities. The regularities concern the dynamics and structure of price relation indices constructed for the research. They also include classification analyses. The findings of the research have revealed, inter alia, that in the majority of the cities under study, prices of flats in the primary markets are higher than prices in the secondary markets. However, situations in which the reverse happens periodically (sometimes occasionally) are not rare. The examined relations are not permanent and are subject to relatively large, irregular fluctuations over time. It is possible to distinguish groups of cities which are relatively similar in this respect, but these similarities are not strong.

Tariff Menus to Avoid Rebound Peaks: Results from a Discrete Choice Experiment with Swiss Customers

While automation helps to increase load-shifting, the combination of automation with time-of-use (TOU) or critical-peak prices (CPP) may lead to rebound peaks at the beginning of low-tariff periods which may exceed the original peak. Using a discrete choice experiment with a representative sample of 696 Swiss consumers, we find that a tariff menu including (i) a flat price with direct load control (DLC) and (ii) a time-of-use tariff without direct load control could avoid this problem. The majority (57%) of mostly younger customers, which could be interested in automation would likely sign up for a DLC with flat prices, while the remaining customers would either chose a TOU tariff with manual load control (28%) or avoid any form of load-shifting incentives (15%).

Is group‐buying price mechanism a good choice in the business‐to‐business system?

AbstractGroup‐buying price mechanism is useful for online sales since the 1990s, yet it has not been widely applied in the business‐to‐business (B2B) environment. In this study, we consider a B2B supply chain with one supplier and multiple retailers. With our analytical model, we compare the supplier's profit under the flat price mechanism, individual quantity discount mechanism, and group‐buying price mechanism. The results show that when retailers are homogeneous, the individual quantity discount mechanism is the best choice for the supplier. In situations with heterogeneous retailers (i.e., a large retailer and multiple small retailers), the group‐buying price mechanism is the best choice when there is a moderate difference in market scale between retailers. However, the condition is quite strict. These findings also hold with a step‐wise price menu set by the supplier. Our conclusions explain why the group‐buying price mechanism is not widely used in the B2B environment and provide some advice for the supplier on how to choose suitable pricing mechanisms.

Pricing Strategy of Cold Ironing Services for All-Electric Ships Based on Carbon Integrated Electricity Price

Maritime transportationis currently responsible for about 90% of the worldwide trade and contributes about 2.7% of the global carbon emission. To establish a sustainable maritime system, transportation electrification is an inevitable trend. Under this context, cold ironing technology for all-electric ships (AESs) emerges. In this paper, we propose a tri-level pricing framework of cold ironing services for AESs, which comprehensively considers the voyage scheduling of AESs, the power system dispatch, and the profit of the cold ironing serving entity (CISE). Time-of-use (TOU)-based pricing, where price level and price structure are jointly optimized, is formulated based on the carbon integrated distribution locational marginal pricing (DLMP). The proposed pricing strategy is verified in a three-seaport system. It is found that compared with the real-time pricing strategy and the flat pricing strategy, the proposed method can better incentivize the AESs to realize power congestion management and emission control. Besides, it guarantees the profit of CISE with low risks and helps the customer to hedge the market risks.

Optimal Demand-Side Management Using Flat Pricing Scheme in Smart Grid

This work proposes a framework to solve demand-side management (DSM) problem by systematically scheduling energy consumption using flat pricing scheme (FPS) in smart grid (SG). The framework includes microgrid with renewable energy sources (solar and wind), energy storage systems, electric vehicles (EVs), and building appliances like time flexible, power flexible, and base/critical appliances. For the proposed framework, we develop an ant colony optimization (ACO) algorithm, which efficiently schedules smart appliances, and EVs batteries charging/discharging with microgrid and without (W/O) microgrid under FPS to minimize energy cost, carbon emission, and peak to average ratio (PAR). An integrated technique of enhanced differential evolution (EDE) algorithm and artificial neural network (ANN) is devised to predict solar irradiance and wind speed for accurate microgrid energy estimation. To endorse the applicability of the proposed framework, simulations are conducted. Moreover, the proposed framework based on the ACO algorithm is compared to mixed-integer linear programming (MILP) and W/O scheduling energy management frameworks in terms of energy cost, carbon emission, and PAR. The developed ACO algorithm reduces energy cost, PAR, and carbon emission by 23.69%, 26.20%, and 15.35% in scenario I, and 25.09%, 31.45%, and 18.50% in scenario II, respectively, as compared to W/O scheduling case. The results affirm the applicability of the proposed framework in aspects of the desired objectives.

Renewal of waterways in a dense city creates value for residents

Water sensitive practices can improve water quality and city livability, but the extent to which these practices improve the welfare of residents is not well researched. We contribute to knowledge in this area using Singapore's Active, Beautiful, Clean Waters (ABC Waters) Program as a case study. The program includes the renovation and integration of drains, canals, and reservoirs with the surrounding environment. To investigate impacts, we analyse real estate transactions within 2000 m of 13 canals that were renovated between 2008 and 2016 as part of the ABC Waters program using both a difference-in-differences hedonic price model and a difference-in-differences exact matching model. To test the robustness of the result, we implement a placebo test by shifting the restoration project dates. We find the value of residential flats within 500 m of renovation sites increase by 1.6% (95% CI 1.0–2.2%) after renovation projects. The empirical strategy and the placebo test results support a causal interpretation of the effect of canal renovation projects on flat prices. The uplift in value for flats within 500 m of canal upgrading projects is estimated to be between S$336 and S$504 million. This exceeds the combined costs of all ABC Waters projects and provides evidence that the benefits of urban waterway renewal projects are greater than the costs.

Komparace kupních a odhadních cen bytů v ČR za rok 2019

Komparace kupních a odhadních cen bytů v ČR za rok 2019

A review of current status, challenges, and solution to improve waste management

Government plays the most important role in improving the waste management system. Incineration system can be introduced into the waste management system to incinerate specific type of waste. This will increase the availability space for the landfilling process. However, the incineration process must be carried out with full pollution control system to prevent and minimize the pollution that might cause during the incineration process. Other than that, the government should encourage the public to separate out the waste into different categories before the collection of the waste by the waste management company. This can be implemented by providing guideline for the separation of waste methods as well as encouraging the public to be responsible for own produced waste. The dumpsites must also be improved and it is suggested that all dumpsites used are engineered sanitary landfill. An engineered sanitary landfill will reduce the impact of the pollution towards the environment to the minimum. Better tools also must be included in the sanitary landfill system to monitor the condition of the landfill site. This will prevent the happen of any unexpected conditions and can be resolve before the happening of the unexpected condition. Last but not least, the government should implement new charging fee system for the waste management. The charging fee should be based on the rate of waste generated but not flat pricing. This will help in reducing the waste generated as all individuals must pay for their own generated waste. The earth belongs to everyone which indicates everyone have the responsible to keep the earth clean and to reduce the waste produce.