The Economist’s View of Pricing

Measuring the Impact of Gambling: an Economist’s View

Automobile Accidents, Tort Law, Externalities, and Insurance: An Economist’s Critique

Preface – By Todd Litman This is a seminal article concerning traffic accident cost analysis and vehicle insurance pricing reform by Professor William Vickrey, winner of the 1996 Nobel Prize for economics. It describes how to determine the marginal accident costs of vehicle travel, identifies several problems associated with current insurance pricing and compensation practices, and proposes inn...

Cooperative Advertising and Pricing in a Supply Chain: A Bi-level Programming Approach

Nowadays, coordination between members in a supply chain has become very important and beneficial to channel members. Through cooperative advertising, manufacturers and retailers can jointly participate in promotional programs. This action not only reduces the cost of advertising, but also is important to create a link with local retailers in order to increase immediate sales at the retail leve...

Variance analysis of control variate technique and applications in Asian option ‎pricing‎

This paper presents an analytical view of variance reduction by control variate technique for pricing arithmetic Asian options as a financial derivatives. In this paper, the effect of correlation between two random variables is shown. We propose an efficient method for choose suitable control in pricing arithmetic Asian options based on the control variates (CV). The numerical experiment shows ...

Introducing a New Method for Multiarea Transmission Networks Loss Allocation

Transmission loss allocation in very large networks with multiple interconnected areas or countries is investigated in this paper. The main contribution is to propose a method to calculate the amount of losses due to activity of each participant in the multi area markets. Pricing of cross-border trades in Multi area systems is often difficult since individual countries may use incompatible ...