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Open Market (open + market)

Distribution by Scientific Domains

Business, Economics, Finance and Accounting	60%

Selected Abstracts

Fixed cost, marginal cost, and the decision to buy or make

MANAGERIAL AND DECISION ECONOMICS, Issue 3 2004
Charles E. Hegji
The paper builds a formal model of the costs and benefits of producing intermediate goods internally as compared to buying partially produced inputs on the open market. The model centers on the link between the purchase of assets specific to a production process and the mean and variance of profits from the purchase. The central point of the paper is that even though purchases of assets specific to a production process can have an ambiguous impact on profits of the decision to make, the purchase of such assets has a tendency to reduce the variability of profits. This trade-off is at the heart of decision to buy or make. Copyright © 2004 John Wiley & Sons, Ltd. [source]

Cost-comparison of DDT and alternative insecticides for malaria control

MEDICAL AND VETERINARY ENTOMOLOGY, Issue 4 2000
K. Walker
Summary In anti-malaria operations the use of DDT for indoor residual spraying has declined substantially over the past 30 years, but this insecticide is still considered valuable for malaria control, mainly because of its low cost relative to alternative insecticides. Despite the development of resistance to DDT in some populations of malaria vector Anopheles mosquitoes (Diptera: Culicidae), DDT remains generally effective when used for house-spraying against most species of Anopheles, due to excitorepellency as well as insecticidal effects. A 1990 cost comparison by the World Health Organization (WHO) found DDT to be considerably less expensive than other insecticides, which cost 2 to 23 times more on the basis of cost per house per 6 months of control. To determine whether such a cost advantage still prevails for DDT, this paper compares recent price quotes from manufacturers and WHO suppliers for DDT and appropriate formulations of nine other insecticides (two carbamates, two organophosphates and five pyrethroids) commonly used for residual house-spraying in malaria control programmes. Based on these ,global' price quotes, detailed calculations show that DDT is still the least expensive insecticide on a cost per house basis, although the price appears to be rising as DDT production declines. At the same time, the prices of pyrethroids are declining, making some only slightly more expensive than DDT at low application dosages. Other costs, including operations (labour), transportation and human safety may also increase the price advantages of DDT and some pyrethroids vs. organophosphates and carbamates, although possible environmental impacts from DDT remain a concern. However, a global cost comparison may not realistically reflect local costs or effective application dosages at the country level. Recent data on insecticide prices paid by the health ministries of individual countries showed that prices of particular insecticides can vary substantially in the open market. Therefore, the most cost-effective insecticide in any given country or region must be determined on a case-by-case basis. Regional coordination of procurement of public health insecticides could improve access to affordable products. [source]

Optimal Generic Advertising with a Rationed Related Good: The Case of Canadian Beef and Chicken Markets

CANADIAN JOURNAL OF AGRICULTURAL ECONOMICS, Issue 2 2002
J. A. L. Cranfield
An optimal advertising rule is derived for a good sold in an open market (beef) when a related substitute good (chicken) is production rationed and whose imports are subject to trade restrictions. Such a rule is developed using a multi-market equilibrium displacement model that reflects demand interrelatedness, open trade of the advertised good (beef), with rationed production and restricted trade of the related good (chicken). The optimal rule nests earlier optimal advertising rules under a variety of conditions. Results underscore the importance of accounting for cross-product advertising effects. When these effects are present (absent), the optimal generic beef advertising intensity in Canada is shown to fall (rise) with elimination of supply management in Canada's chicken sector. L'auteur dérive une règie sur l'optimisation de la publicité pour un produit vendu sur un marché libre (b,uf) en présence d'un produit de substitution rationné dont on restreint les importations. Pour parvenir à une telle règie, l'auteur a utilisé un modèle de déplacement du point d'équilibre sur un marché multiple illustrant les liens entre la demande des produits concernés, le libre-échange du produit faisant l'objet de la publicité (b,uf) et la restriction de la production et des importations du produit apparenté (poulet). La règie d'optimisation englobe les règles antérieures sur l'optimisation de la publicité dans diverses situations. Les résultats soulignent qu'il est important de prendre en compte les retombées de la publicité sur les autres produits. Au Canada, en présence (absence) de telles retombées, le degré optimal de publicité générique sur le b,uf diminue (augmente) avec l'abolition de la gestion de l'offre de poulet. [source]

Price and Volatility Transmission across Borders

FINANCIAL MARKETS, INSTITUTIONS & INSTRUMENTS, Issue 3 2006
Louis Gagnon
Over the past forty years, financial markets throughout the world have steadily become more open to foreign investors. With open markets, asset prices are determined globally. A vast literature on portfolio choice and asset pricing has evolved to study the importance of global factors as well as local factors as determinants of portfolio choice and of expected returns on risky assets. There is growing evidence that risk premia are increasingly determined globally. An important outcome of this force of globalization is increased comovement in asset prices across markets. This survey study examines the literature on the dynamics of comovements in asset prices and volatility across markets around the world. The literature began in the 1970s in conjunction with early theoretical developments on international asset pricing models, but it blossomed in the late 1980s and early 1990s with the availability of comprehensive international stock market databases and the development of econometric methodology to model these dynamics. [source]

Safety of Polyethylene Terephthalate Food Containers Evaluated by HPLC, Migration Test, and Estimated Daily Intake

JOURNAL OF FOOD SCIENCE, Issue 6 2008
H.-J. Park
ABSTRACT:, A comparative high-pressure liquid chromatography (HPLC) analysis of monomers, terephthalic acid (TPA), isophthalic acid (IPA), and dimethyl terephthalate (DMT) from polyethylene terephthalate (PET) food containers was conducted. Monomer linearities and sensitivities were calibrated between established and novel HPLC analyses. Safety of PET containers was evaluated with newly established detection methods for TPA, IPA, and DMT. Migration of the 3 monomers into food simulants (water, 4% acetic acid, 20% alcohol, and n-heptane) from 56 PET containers collected from open markets was monitored. Migrated monomers were not detected over 0.1 ppm of detection limit. The corresponding estimated daily intake was measured to confirm the safety of these publicly available PET containers and to permit comparison to the specific migration limit of the European Union. The estimated daily intake of 3 monomers migrating from PET was 0.0384 mg/kg each. This represented only 0.6% of the European Union's specific migration limit, confirming the safety of the examined containers. [source]