Topic
Limit price
About: Limit price is a research topic. Over the lifetime, 4865 publications have been published within this topic receiving 148546 citations.
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TL;DR: In this paper, the authors investigated the price specification controversy (marginal price versus average revenue) when estimating residential water demand and found that the marginal price was an artifact of the unitary elastic identity created when monthly rate schedules contain a fixed fee.
Abstract: Using a new model formulation and data from a sample of Colorado utilities, we investigated the price specification controversy (marginal price versus average revenue) when estimating residential water demand. The improved statistical fit using average revenue as the price variable was shown to be an artifact of the unitary elastic identity created when monthly rate schedules contain a fixed fee. When the fixed fee was purged from the data, average price was not significant, but marginal price remained significant. In the preferred double-log marginal price model, estimated price elasticity was –0.3, and conservation programs had no significant effect on water use.
69 citations
TL;DR: An information display device wherein there is a base plate with information bearing face plates detachably mounted thereon by one or more spline elements that press-fit with formations on each of the opposing faces of the base and face plate.
Abstract: We investigate expectation formation in a controlled experimental environment. Subjects are asked to predict the price in a standard asset pricing model. They do not have knowledge of the underlying market equilibrium equations, but they know all past realized prices and their own predictions. Aggregate demand of the risky asset depends upon the forecasts of the participants. The realized price is then obtained from market equilibrium with feedback from individual expectations. Each market is populated by six subjects and a small fraction of fundamentalist traders. Realized prices differ significantly from fundamental values. In some groups the asset price converges slowly to the fundamental price, in other groups there are regular oscillations around the fundamental price. Participants coordinate on a common prediction strategy. The individual prediction strategies can be estimated and correspond, for a large majority of participants, to simple linear autoregressive forecasting rules.
69 citations
TL;DR: In this article, economic growth and food security effects may dominate more conventional welfare costs of food price fluctuations, although estimating the empirical magnitude of the effects is hampered by the lack of consensus on the extent to which price fluctuations actually reduce economic growth or food security.
68 citations
TL;DR: In this article, the authors developed a two-stage model of the generation market in which capacity construction occurs in stage 1, before demand realization, and price determination occurred in stage 2, when the equilibrium price ensures that the realized demand does not exceed the installed capacity.
68 citations
TL;DR: It is suggested that moderate fees can be imposed for family planning services without affecting demand; however, full cost recovery may pose a deterrent to low- and moderate-income couples.
Abstract: This article explores the significance of price of contraceptives as a deterrent to use by studying demand shifts in response to changes in contraceptive prices. Where high fertility represents a net cost to society government subsidies are warranted to encourage utilization of family planning; the optimal amount subsidized is the price that maximizes cost recovery and minimizes loss of users. Costs of contraception to the consumer other than price of contraceptives include distance to source of supply opportunity cost of waiting opportunity and travel costs of futile trips to closed or oversubscribed family planning services. Quality of service also has an effect. Other studies have shown that consumers prefer to pay for goods and services as price reflects value and in many societies users distrust free services; fees also provide greater assurance of effective use and minimal wasting. Marginal charges may have a beneficial effect on demand. Evidence from studies conducted in Sri Lanka Jamaica Colombia and Thailand demonstrate that increased prices generally have no effect on demand but there are circumstances where contraceptive prices are too high for low-income households and in these cases price reductions will have a positive impact on utilization.
68 citations