For many assets and liabilities there exist deep and liquid markets so that the market value are readily observed. However, for non-hedgeable risks, the market value of liabilities must be estimated. The Draft Solvency II Directive suggests in article 75 that the valuation of technical provisions (for non hedgeable risks) shall be the sum of a best estimate and a market value margin measuring t...

Market concentration ratios are popular statistics for characterizing the extent of market dominance in an imperfectly competitive market, but these ratios may not agree when comparing two markets. Neither do they necessarily agree with the Herfindahl-Hirschman or entropy indices. This letter compares two Cournot oligopoly markets in which firms have constant unit costs. It is shown that the ma...

deregulation policy has caused some changes in the concepts of power systems reliability assessment and enhancement. in this paper, generation reliability is considered, and a method for its assessment using intelligent systems is proposed. also, because of power market and generators’ forced outages stochastic behavior, monte carlo simulation is used for reliability evaluation. generation reli...

OBJECTIVE Examine the variation for Medicare and privately insured patients in hospital costs, payments, and contribution margins and their association with characteristics of the patients, hospitals, and hospital markets. DATA SOURCES Administrative records for 1,858 patients undergoing cardiac valve replacement surgery were obtained from 37 hospitals in 7 states for 2008. STUDY DESIGN Biv...

The literature on the economics of airline codesharing has suggested that codeshare agreements serve to eliminate double marginalization that exists when unaffiliated airlines independently determine the price for different segments of an interline trip. Using a structural econometric model, this paper investigates whether codeshare contracts do eliminate double marginalization. The results sug...

The outbreak of the COVID-19 pandemic caused some largest – and fastest market dislocations in modern history. During outbreak, liquidity quickly evaporated a coordinated fashion across global markets. We show that sudden increase margin requirements during is correlated with withdrawal providers. These effects are concentrated securities most exposed to high-frequency makers, consistent bindin...

Silicon diagnosis is used to locate silicon defects inside faulty chips. During the life cycle of silicon devices, silicon diagnosis is used mainly at three stages. At first silicon debug stage, the focus is to locate design errors. The goal is to reduce time to market. At early yield rampup stage, the focus is to locate design margin and manufacture process margin problems. The goal is to redu...

The practice of target pricing has been a key factor in the success of Japanese manufacturers. In the more commonly-known demand-side approach, the target price for the supplier equals the manufacturer’s market price less a percent margin for the manufacturer but no cost-improvement expenses are shared. In the supply-side approach, cost-improvement expenses are shared and the target price equal...