In this paper, a heuristic mathematical model for optimal decision-making of a Distribution Company (DisCo) is proposed that employs demand response (DR) programs in order to participate in a day-ahead market, taking into account elastic and inelastic load models. The proposed model is an extended responsive load modeling that is based on price elasticity and customers’ incentives in which they...

This paper studies a supply chain coordinated by a revenue-sharing contract in fuzzy environment. Two kinds of fuzzy programming models are discussed: revenue-sharing contract with fuzzy linear demand model and fuzzy iso-price-elastic demand model. Supply chain coordination in both centralized decision setting and centralized decision setting are achieved by obtaining the optimal solutions in t...

We use a novel approach to identify price effects in a differentiated products demand system for drugs used to treat ADHD and find that the demand for ADHD drugs is elastic and there are significant substitution possibilities within and across molecules and delivery mechanisms. The first-time introduction of a generic drug shows large welfare gains due to expansion of the market to price sensit...

A model of the Iranian wheat market is specified and fitted to data from 1981-2008. Severaldiagnostic tests were employed in the analysis to determine the specification of the model. Despitethe simplicity of the model and data problems, an examination of the econometric model leads toseveral conclusions with possible important policy implications for the wheat economy in Iran.The general result...

In this article, we estimate the price elasticities of demand for subscription and consumer switching costs for mobile telephony. We use a panel of Portuguese consumer level data to estimate a series of multinomial and mixed logit models. The demand for subscription is elastic. Switching costs are large. We use the structural model to perform several policy exercises. Switching costs and brand ...

We develop a competition index for differentiated products oligopoly and apply it to assessing the impact of concentration on price in hospital markets in California. Our index, which we term LOCI, is bounded between zero and one and increases with the competitiveness of a market. We use 1992-1995 hospital data from California to estimate the impact of concentration on price using our new conce...

Bilateral drug price and quantity indexes, based on comprehensive data for seven countries (US, Canada, France, Germany, Italy, Japan and the UK), refute the conventional wisdom that US drug prices are much higher than elsewhere, for Laspeyres (US-weighted) indexes. Previous drug-price comparisons are biased by unrepresentative samples and unweighted indexes. Quasi-hedonic regression shows that...

We estimate flight-level price elasticities using a database of online prices and seat map displays. In contrast to market-level and route-level elasticities reported in the literature, flight-level elasticities can forecast responses in demand due to day-to-day price fluctuations. Knowing how elasticities vary by flight and booking characteristics and in response to competitors’ pricing action...

BACKGROUND Vaccination programs often organize subsidies and public relations in order to obtain high uptake rates and coverage. However, effects of subsidies and public relations have not been studied well in the literature. In this study, the demand function of pneumococcal vaccination among the elderly in Japan is estimated, incorporating effects of public relations and subsidy. METHODS Us...