In recent years, aiming to reduce the Greenhouse Gas pollution and promote energy efficiency and conservation among consumers’ energy use, price policies and price changes derived from environmental regulations have played a more important role. In this paper, using the most recent annual state-level panel data for 48 states, I estimate a dynamic partial adjustment model for electricity demand ...

Background: Esophagectomy is considered to be the main treatment for esophageal malignancies. Among the different methods, transhiatal approach can cause less damage to patients and is widely used however, manipulation of esophagus result in heart rate and blood pressure variations. The aim of this study was to investigate changes in blood pressure and heart rhythm during transhiatal esophagect...

This paper is a quantitatively-oriented theoretical study into the interaction between housing prices, aggregate production, and household behaviour over a lifetime. We develop an overlapping generations model of a production economy in which land and capital are combined into residential and commercial structures. We …nd that, in the economy where land is more important for structures, the hou...

In the literature, the study of price subsidies of new technologies has focused on the tactical problem of achieving maximum penetration under a budget constraint over a short horizon. In practice, such tactical, short-termpenetration objectives seemboth to adequately reflect the structure ofmany price subsidy programs (e.g., solar energy), and account for their high failure rate. The present p...

It is suggested that instead of attempting to adjust the consumer price index (CPI) after tax reform it is better to measure changes in after-tax income.

Many government contracts with or policies towards oligopolistic sectors essentially involve private firms selling a given proportion (O), or quantity, of output to the government at a fixed price (pR) with the remainder being sold on the open-market. Often this is combined with consumer rationing. Examples include cement and sugar in India, and health, housing and defence in many countries. Th...

This note describes probabilistic properties of optimal price sample paths in a dynamic pricing model with a finite horizon and limited stock. We assume that customer arrivals follow a nonhomogeneous Poisson process. We show that if customers’ willingness-to-pay increases rapidly over time, then the optimal price process follows a submartingale, which implies an upward price trend. Alternativel...

The aim of this note is to establish criterion of absence of arbitrage opportunities under small transaction costs for a family of multi-asset models of financial market.

On October 6, 1979, the Federal Open Market Committee of the Federal Reserve System embarked on an aggressive policy to lower the inflation rate, which then stood near 12 percent. That effort succeeded: By the mid-1980s, the rate of change in the Consumer Price Index (CPI) was reduced to less than 4 percent on a three-year moving-average basis, as shown in figure 1. The commonly reported measur...

For portfolio optimisation under proportional transaction costs, we provide a duality theory for general càdlàg price processes. In this setting, we prove the existence of a dual optimiser as well as a shadow price process in a generalised sense. This shadow price is defined via a “sandwiched” process consisting of a predictable and an optional strong supermartingale and pertains to all strateg...