Showing 17 results for Pricing
Volume 3, Issue 1 (6-2013)
Abstract
There is a close relationship between economic growth and energy consumption. Price is one of the most important parameters which affect energy demand and consumption. Thus, investigating the factors which affect the pricing of different forms of energy is very important. The purpose of this study is to identify and rank the most important factors that influence the pricing of renewable energy in Iran. In this study, we use Analytic Network Process to combine social, economic and environmental aspects in order to provide a comprehensive view about the most important factors affecting renewable energy pricing in Iran. The results show that in 1392, economic, financial & technical factors are respectively the most important factors in pricing of renewable energies in Iran.
Firoozeh Azizi, Sara Vakhshouri,
Volume 7, Issue 4 (1-2008)
Abstract
After the success of the revolution in the Islamic Republic of Iran, all polices regarding crude oil production and marketing have been revised and changed. Since the policies and methods of crude oil marketing were always influenced by political and economic conditions, and since the Islamic Republic of Iran has experienced different political and economic situations after the revolution, we tried in this paper to discuss the policies and ways of marketing and selling the crude oil in Iran. For finding the effective factors on the Iranian export crude oil prices from year 1979 (Islamic Republic of Iran revolution) till year 2005 and prioritizing them, we used Likert scale, but since the crude oil marketing experts couldn’t show the priority of effective factors by Likert Questioner, we used Analytical Hierarchy Process (AHP) to prioritize the factors. The findings show that, the quality of crude oil (API and Sulfur content) is the most important factor and “the General Terms and Conditions (GTC)” of National Iranian oil company ( NIOC) for selling Iranian export crude oil is the less effective factor on the Iranian export crude oil prices.
Behnam Shahreaar, Abdolhamid Khosravi, Ali Sayyadzadeh,
Volume 8, Issue 2 (7-2008)
Abstract
Iran plans to export natural gas (NG) to Western Europe using a system of pipelines running through Iran, Turkey, and Western Europe. International gas pricing is usually undertaken through negotiations between buyers and sellers on a bilateral basis. Currently, Russia is the only exporter of gas from the Former Soviet region. So, Russia competes strongly with Iran to export NG to Western Europe.
This paper develops a bargaining model to study natural gas pricing and analyze competition between Iran and Russia as gas suppliers to Western Europe. In this model, it is assumed that NG pricing is usually linked to the prices of alternative fuels as competing energy sources. Therefore, in light of previous evidence, it is reasonable to consider that there is a
long-run relationship between NG price and price of alternative fuels. Initially, a regression model is specified to investigate unlagged relationship among variables. This relationship is estimated using the Johansen cointegration technique and then we forecast margins of the Iranian NG price. Finally, a VECM model is identified and used to forecast the lower and upper bounds of future NG price.
Seyyed Hamid Reza Ashrafzadeh, Maysam Musai,
Volume 8, Issue 4 (1-2009)
Abstract
This paper aims to measure the extent of mark-up and monopoly pricing in different sub sectors of the Iranian manufacturing. We measure annually the degree of monopoly pricing and mark-up for sub sectors over the period from 1959 to 2003. A panel data approach is developed and applied to gauge the mark-up and degree of monopoly pricing
The results show that in four sub sectors, including chemical, non-ferrous metals, basic metals and machinery, these kinds of pricing are dominated and it is also prevalent in other sub sectors. Capital intensity and increase in the number of firms in each sector cause a reduction in mark-up while trade liberalization leads to an increase in productivity. The experience of liberalization in Iran over a short period of time confirms that mark-up is reduced, productivity is increased and capital intensity is decreased.
Volume 9, Issue 1 (1-2009)
Abstract
In trading electrical energy in deregulated power systems, violation of operation constraints such as transmission lines flow limits is possible. These conditions have been called “congestion”. One of the most important responsibility of Independent System Operator (ISO) is congestion management in a manner that all the system equipments be operated in their nominal ranges.
In this paper, using topological generation distribution factor, participation of each generator in power flow in each line is calculated. Then, by means of decomposition of nodal price and mentioned factor, the effect of generation in each bus on the locational marginal price in all buses of the system are calculated. And the congestion price is calculated based on re-dispatch in constant demand.
In this paper a new method is introduced to dedicate congestion price to each generator and by this method a fair congestion cost allocation is implemented. The method has been tested on IEEE 24-bus test system and the results have been demonstrated.
, ,
Volume 9, Issue 1 (4-2009)
Abstract
This paper is an attempt to investigate the impacts of macroeconomic variables on capital market in Iran using quarterly observations for the period 1991Q2 to 2007Q1. The macroeconomic variables considered in the model include GDP, prices, money and exchange rate. Arbitrage pricing theory is considered to model the variables. Standard unit root tests are conducted to investigate the order of integration in time series used in the study. Cointegration analysis is employed to estimate the model. More specifically, the autoregressive distributed lag (ARDL) framework and error correction model (ECM) are employed.
The results show that stock price has a positive effect on GDP and price level, but a negative effect on money stock and exchange rate. The estimated coefficient of the error correction term is 15 percent indicating the speed of adjustment in response to deviation from the long run equilibrium is relatively low.
Farhad Savabi Asl, Hamid Shahrestani, Bijan Bidabad,
Volume 10, Issue 2 (7-2010)
Abstract
Markowitz's model which determines the weight of each stock in the portfolio is based on the optimal choice of stocks in order to maximize the expected returns. However, this theory through paying special attention to the concept of total risk reaches to an efficient frontier which undoubtedly the portion of unsystematic risk that the market doesn’t reward will not stand in the minimum level.
Besides, Sharpe’s theory presents a model using some simplifying assumptions which attains a new efficient frontier in which although the concept of systematic risk governs it, its fundamental defect will absolutely be applying market portfolio in the case of investing.
This article aims to combine the theories of Markowitz and Sharpe to introduce a new model. This new model is much better and more efficient in comparison to Markowitz’s efficient frontier. Moreover, it reforms the exiting defect in Sharpe’s model
The superiority of proposed model over Markowitz and Sharpe's traditional models from the view point of theory is definitely proven through paying attention to unsystematic risk, eliminating some assumptions of the traditional models and finally through finding the optimal portfolio of stocks for large cement corporations in Tehran stock exchange market.
Volume 10, Issue 4 (3-2021)
Abstract
Pricing as a basis of revenue management can ensure the maximum expected profit of any business if managed effectively. In competitive markets of perishable products, the prices are vitally set in a dynamic manner according to the product life cycle by different discounts or price recovery strategies. Consequently this study develops an optimization model on dynamic pricing with the aim of maximizing revenue and diminishing the related costs. Considering the product freshness and its impact on demand, the model determines the pricing policy including the increasing or decreasing rate of the price during the sales horizon consist of several time periods equal to the product life cycle. Moreover, replenishment and inventory costs are incorporated in defining the pricing policy for each period. The proposed model implemented for the OK chain store, which results in a suitable pricing policy (decreasing) in line with the revenue increase for the meat and vegetable products of the whole store.
Volume 12, Issue 1 (3-2008)
Abstract
Commercialization of technology is one of the importants element of innovation process and there are several difficulties to do that. Evaluating and pricing of know –how is one of the most complicated activities in commercialization process. The complexity of technology and know-how pricing has caused difficulties for research technology institutes (RTIs) leading them to use heuristic method for pricing. On the other hand, they are eager to use scientific methods for pricing in commercialization process. In this paper, a model was developed to systematically evaluate know-how and then to price the technology based on experience and heuristics method. Then the model was tested with the real cases in the Research Institute of Petroleum Industry (RIPI)(Iran).
Volume 12, Issue 2 (5-2024)
Abstract
Aims: The insurance strategy of direct insurers (reinsurers) should be in accordance with actuarial risk-based principles. Therefore, every decision and action taken by insurance institutions in relation to climate change adaptation requires a risk assessment. Therefore, examining international underwriting and dealing with the climate change insurance process in Iran can provide useful strategies to managers. This research has been done in order to investigate the situation of Iran's insurance industry in the underwriting of climate change.
Materials & methods: In the beginning, insurance plans and coverage and climate change risk management strategies are reviewed in selected developed and developing countries. Then, the experiences of global surveys, regarding climate change are used in order to develop a questionnaire in line with the current situation of Iran country in the field of climate change insurance.
Finding: The results of the questionnaire’s analysis distributed among 35 insurance experts on climate change risk management, show that some insurance companies, despite predicting the impact of climate risks in their insurance processes and empowering their employees, don’t have any plan for the assessment and mitigation of greenhouse gases, regular assessment of climate hazards, providing incentives and modeling. Also, the strategy of annual re-pricing and risk-based pricing has the highest priority to face climate change in insurance companies.
Conclusion: Most of the country's insurance companies use different strategies to deal with climate change, of which annual repricing and risk-based pricing have been the most popular.
Seyed Abolghasem Mortazavi, Seyedeh Samaneh Abbasmiri, Pejman A’laei Borujeni,
Volume 13, Issue 4 (1-2014)
Abstract
To investigate the effects of pricing policies in the production of Colza, first, we estimate demand function for inputs of Colza oil production by applying the Almost Ideal Supply System (AISS) and supply function for Colza by applying the Koyck model in Iran during 1989-2009. Then, using the calculated supply and demand elasticities, we compute equilibrium price and quantity for 2008 in the absence of government intervention and compare them with current situation. Finally, we evaluate the effects of floor price policy on the producer surplus for Colza in 2008. The results show that price elasticities of supply of and demands for Colza are greater and less than one, respectively. In addition, the performance of pricing policy is not too effective, since floor price is slightly higher than the equilibrium price. Thus, it is recommended that floor price is determined at a level upper than equilibrium price.
Volume 15, Issue 1 (2-2011)
Abstract
This paper seeks to investigate the initial aftermarket performance of 142 Iranian IPOs listed on Tehran Stock Exchange for the period 1997-2005 to contribute to the growing body of international evidence on the anomalous performance of IPOs in the short run. The results suggest that Iranian IPOs are underpriced on the initial trading window of 1 through 4-weeks on average of 14.85%, as are almost all IPOs in different countries. In terms of industry sub-sectors, the adjusted initial underpricing is 70.24% for minerals, 62.31% for oil and nuclear fuel, and 1.12% for multimedia industries. Finally, the investigation of possible factors influencing the high initial positive returns in TSE (the size of the issue, age of the issuing firm, financial risk of the issuing firm, gross proceeds from the issue, market sentiment, offer rate and the institutional ownership of the issue) indicates that the offer rate and financial risk of the issuing firm are significant determinants of the initial underpricing of Iranian IPOs. As such, the results yield strong support for the signaling hypothesis as possible explanation for the underpricing phenomenon on the Iranian IPO market.
Volume 16, Issue 2 (6-2016)
Abstract
In this paper, we consider a price-based resource allocation within an Orthogonal Frequency-Division Multiple Access (OFDMA) based on spectrum sensing in the cognitive networks. Furthermore, there is the primary network which has an opportunity to sell the spectrum to secondary network. We assume the secondary network’s interference pricing is used to
protect primary network and propose a joint utility maximization of the primary and secondary with a maximum interference constraint at the primary and a transmission power threshold at the secondary transmitter. Accordingly, we devise a novel cost computation strategy which is function of primary and secondary behaviors. To formulate this method, a Stackelberg game and equilibriums are exploited. Numerical results are presented to verify the proposed scheme. The impact of different system parameters is investigated and compared through simulations.
Volume 18, Issue 2 (7-2014)
Abstract
The main objective of this study is investigating the relevance of momentum and liquidity market status on short-term (6 and 12 months), medium-term (24 months) and long-term (60 months) periods. Statistical sample in clouded 270 firms that were accepted during years 82-85 in Tehran Stock Exchange, and are still working. The results showed that liquidity market status is a factor for separation of the market's effects on excess returns in different periods of times. So that the momentum in the companies with high liquidity in 6 months formation and 6 & 12 months holding periods was positive, and the momentum in the companies with low liquidity in 24 & 60 months holding periods was negative. Also there was no significant difference between the profitability of momentum strategy in the companies with high and low liquidity.
Volume 21, Issue 6 (10-2019)
Abstract
Fig and grape have a high position in job creation and foreign exchange earnings for Iran. Moreover, these two products also have the same international position in terms of production and exports. This study has examined and compared price discrimination in the two markets of fig and grape exports using Exchange Rate Pass-Through and Pricing To Market (PTM) behavior approaches. The econometric analysis using the Panel-Corrected Standard Errors (PCSE) model showed that fig exporters had the ability to discriminate prices in the Singapore, Malaysia, Australia, Sweden, and Russia. Furthermore, fig and grape have an equal position in terms of production and exports, but the power of exporters are more in the fig export market and have better conditions for applying price discrimination. Therefore, it is recommended that the principled export of agricultural products be adopted according to global consumer demand by identifying target markets. The results of the analysis of the asymmetric effects of exchange rates on fig's exports illustrate that these effects are symmetrical in the market of all countries; however, it is asymmetrical in exporting grapes to Singapore, Sweden, and Saudi Arabia.
Volume 24, Issue 1 (3-2020)
Abstract
1. Introduction
This study investigates the impact of a variety of attributes or ‘characteristics’ on the rates charged for hotel rooms in Iran. The aim of this paper is to provide information for tourist destinations through an analysis of the valuation of the location implicit in the price of accommodation. Using OLS model (that is, taking into account that demand valuation can vary along the hotel price distribution), the authors find that huge price differences between 5-star hotels and the rest, is coupled with practically of no difference between 1-star and 2-star hotels. Other attributes with a significant effect on price are towns. With regard to the valuation of location, a hotel in Tehran location is valued much more at higher percentiles.
The study of hotel-room pricing is complex because of seasonality, different price regimes (full-board, half-board, bed & breakfast), and discounts and supplements on various grounds (additional bed for children, single room, view of the sea, additional room equipment such as air-conditioning, television, or mini-bar).
The value of attributes and characteristics are unobserved, as they are not separately traded in any market. Only the overall prices of hotel rooms, including particular combinations of attributes are observed. Our analysis draws upon the hedonic-prices tradition of fitting statistical models to estimate the effect of attributes on price (early theoretical developments in hedonic prices are those of Lancaster 1966; Rosen, 1974.
Empirical applications in the tourist sector are found in Andersson, 2010; Chen and Rothschild, 2010; Castro and Ferreira, 2014; and Espinet, Coenders, and Fluvia 2003). The product a given hotel H is offering can be regarded as a set of attributes, which may consist of services (such as swimming pool, garden, television in the room), or characteristics (star category, town, year of first opening, number of rooms, etc):
Hi = (qi1, qi2, qi3,…, qik,…, qim ) (1)
Where i= 1 … n represents the hotel and qik (k=1,…, m) each of its attributes.
Thus, the hedonic price function for each hotel is represented as:
Pi = P(qi1, qi2, qi3,…,qik,…, qim ) (2)
2. Methodology
This regression model offers us estimates of the homogeneous parameters between individuals and its application is justified by hedonic price theory. In the context of tourism, it is also easy to appreciate that the valuations individuals make of the physical characteristics (destination and time) of their accommodation differ according to their price. That is, it would be interesting to know the behavior of the explanatory variables along the price distribution. For this, an estimator is required that allows heterogeneous responses: the estimator stemming from the linear regression (βi). Furthermore, a median-based estimator is also attractive because it is less sensitive to outliers than a mean-based estimator. Therefore, the bias from unobserved characteristics (quality, renovation) should be smaller.
Dependent variable: Price
The per night price of a room in the case of hotels and of an entire unit in the case of hotel.
Explanatory variables:
- Resort
Esfahan: a dummy variable that takes a value of one if the accommodation is located in Esfahan and zero otherwise.
Tabriz: a dummy variable that takes a value of one if the accommodation is located in Tabriz and zero otherwise.
Tehran: a dummy variable that takes a value of one if the accommodation is located in Tehran and zero otherwise.
Mashhad: a dummy variable that takes a value of one if the accommodation is located in Mashhad and zero otherwise, and etc.
- Category
One star: a dummy variable that takes a value of one if the hotel is one-star and zero otherwise.
Two stars: a dummy variable that takes a value of one if the hotel is two-star and zero otherwise, and etc.
- Type of room (Single, Double and Suite).
Rooms: number of hotel/apartment rooms.
- Swimming pool: a dummy variable that takes a value of one if the hotel has a swimming pool and zero otherwise.
- Car park: a dummy variable that takes a value of one if the hotel has a car park and zero otherwise.
- Garden/terrace: a dummy variable that takes a value of one if the hotel has a garden/terrace and zero otherwise.
3. Results and Discussion
One of the most relevant characteristics ratios of a hotel to its price is star category. Figure 1 clearly shows that the greatest differences in price occur for 5-star hotels, while those with 1 and 2 stars hardly vary. Given the marked differences among the towns under study, the town in which the hotel is situated is another potentially very relevant variable.
4. Conclusion
This article has identified some variables that affect the price paid by tourists in Iran hotels. The attributes or characteristics that allow hotels to increase price can also be seen as attributes that contribute to the differentiation of their offers.
The use of hedonic functions has allowed us to quantify the effects of each of the significant variables (town, star category, number of rooms, and availability of parking place) on price. Thus, hotel managers can make economic estimates of the impact of decisions concerning changes in these variables. This should make the results very useful to hotel managers, and to a lesser extent, to tour operators and public authorities
Volume 27, Issue 1 (12-2023)
Abstract
Discriminatory transactions are contracts in which there is unjustified discrimination in one of them despite the fact that the circumstances are the same. In legal systems, special conditions for prohibition have been included. Some of these conditions are related to the contract itself; Such as the similarity of transactions and the condition of applying restrictions, which exist only in the United States. Some of these conditions are related to the parties to the contract, such as the exclusive power of the economic enterprise or the dominant economic situation. Some conditions are competitive legal conditions. Competitive conditions include disruption of competition, competitive damage and discrimination between competing buyers. The condition of entering damage to the interstate market in the United States and to the trade between the member countries, is foreseen in the European Union law; But it has not been relevant in Iran's legal system. Therefore, in all three legal systems, special conditions for prohibition have been stated. In America, these restrictions are more and most transactions are considered legal. The most important difference between the European Union and Iran is that, in the European Union, only those transactions which are stated by the economic enterprise in a dominant position are prohibited. This should be emphasized in Iranian law as well. Also, based on the appearance of Iranian law, the conditions for prohibiting unilateral discriminatory transactions are stricter than multilateral discriminatory transactions. Finally, based on the examination of the conditions of prohibition, legal articles have been proposed to amend the law.
