In this paper the author formulates and tests an international intertemporal capital asset pricing model in the presence of deviations from purchasing power parity (II-CAPM [PPP]). He finds evidence in favor of at least mild segmentation of international equity markets in which only global market risk appears to be priced. When using the Hansen & Jagannathan (1991, 1997) variance bounds and dis...

This paper addresses issues related to reactive power, voltage support and transmission losses as dictated from a certain class of electric loads. Specifically, it addresses the impact of predominantly induction motor loads on voltage support, reactive power requirements, and transmission losses. These issues are examined with a model, which explicitly models the induction motor mechanical load...

This article presents a computer program that is used in a power system economics course in order to clarify the differences and the impact of eight transmission pricing and three tracing methodologies on transmission cost allocation. The software can graphically represent the allocation of transmission cost to network users. Thanks to its graphical user interface, the software is very friendly...

This paper describes methods for determining the prices for a discrete set of interrelated products oflered by a single supplier. Each product has a fixed marginal rate per unit, the demand for each product depends upon the price levels of all the products and the supplier’s cost function depends upon the demands for all the products. For spec$c demand function forms, methods are described for ...

In many competitive settings consumers buy multiple product categories, and some prefer to use a single firm, generating complementary cross-category price effects. To study pricing in supermarkets, an organizational form where these effects are internalized, we develop a multi-category multi-seller demand model and estimate it using UK consumer data. This class of model is used widely in theor...

AMID A PERIOD OF UNPRECEDENTED CHANGE AND IMprovement in the US health system, the changes leading to larger local hospitals and health systems, including academic medical centers, are cause for concern. For decades, the dominant business strategy of local hospitals and health systems has been to gain local and regional market share and use that local market power to increase prices charged to ...

We propose a priority-pricing scheme for zonal access to the electric power grid that is uniform across all buses in each zone. The Independent System Operator (ISO) charges bulk power traders a per unit ex-ante transmission access fee based on the expected option value of the generated power with respect to the random zonal spot prices. The zonal access fee depends on the injection zone and a ...

The issue of channel power in supply chain has recently received considerable attention in literature. Several different channel interactions between manufacturers and retailers and the relative power of supply chain members have been examined. Most of these practices considered all manufacturers to be Stackelberg leaders or followers over/under retailers. In this paper we add to the existing l...

A method to quantify the individual contribution of power system stabilisers (PSSs) to enhance system performance is proposed. Enhancement in system performance from PSS is measured through increased system transfer capability and the margin of stability thus achieved, and considering an N 1 contingency criterion. The method is based on cooperative game theory and makes use of the Shapley value...

Pricing and reimbursement of orphan drugs are an issue of high priority for policy makers, legislators, health care professionals, industry leaders, academics and patients. This study aims to conduct a literature review to provide insight into the drivers of orphan drug pricing and reimbursement. Although orphan drug pricing follows the same economic logic as drug pricing in general, the monopo...