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The study aimed at analyzing the consumer demand for various kinds of meat in AlKifah village in New Valley Governorate, by estimating individual demand functions for meat and elasticities of demand at different levels of income. The study relied on both descriptive and quantitative statistical approaches. Data were obtained through questionnaire forms for a random sample of 312 families. The findings showed that red meat, poultry, and fish are substitutionary commodities, and the demand for each kind is affected by the price of this kind besides the prices of other meat substitutes. Furthermore, the demand for meat is significantly affected by income, family size, and educational level of the head of the family. The findings also showed that the demand for all kinds of meat is inelastic (necessary goods), as the price elasticity of demand is less than one at the three income levels. The income elasticity of red meat and fish was higher than one for low-income families, which implies that these two commodities are considered luxury commodities for this category, while it was found that all kinds of meat are ordinary commodities for middle- and high-income families. As for cross elasticity, the elasticity coefficient was positive and less than one for all kinds of meat, which confirms that red meat, poultry, and fish are substitutionary commodities. The study concluded with many recommendations, which generally revolve around how to meet the local demand for meat and reduce its prices. [ABSTRACT FROM AUTHOR]

The renowned van der Waals (VDW) state equation quantifies the equilibrium relationship between the pressure P, volume V, and temperature k B T of a real gas. We assign new variable interpretations adapted to the economic context: P → Y , representing price; V → X , representing demand; and k B T → κ , representing income, to describe an economic state equilibrium. With this reinterpretation, the price elasticity of demand (PED) and the income elasticity of demand (YED) are non-constant factors and may exhibit a singularity of the cusp-catastrophe type. Within this economic framework, the counterpart of VDW liquid–gas phase transition illustrates a substitution mechanism where one product or service is replaced by an alternative substitute. The conceptual relevance of this reinterpretation is discussed qualitatively and quantitatively via several illustrations ranging from transport (carpooling), medical context (generic versus original medication), and empirical data drawn from the electricity market in Germany. [ABSTRACT FROM AUTHOR]

This article investigates the mechanisms that underlie the biases in price elasticities of demand in applying static demand models under dynamic demand, which have been pointed out by previous empirical studies. It studies three sources of biases: disregard of state variables (affecting short-run elasticity); inconsistent utility parameter estimates; and changing expectations of consumers (affecting long-run elasticity). Disregard of state variables, such as durable product holdings, which is not negligible but not paid much attention to in the literature, leads to an overestimate of short-run own elasticities. Inconsistent utility parameter estimates arises due to the failure to account for consumers' future expectations and unobserved state variables. Changing expectations of consumers are not explicitly specified in the static model, and this also leads to biased results when applying static models. Regarding the magnitude of the biases, the first and the third sources of biases might induce large biases in price elasticities, especially when the focus is on the large conditional choice probability products. Possible remedies for the use of static demand models are also discussed. [ABSTRACT FROM AUTHOR]

The comprehensive reform of agricultural water prices in China has entered a critical stage, and it is inevitable that the innovation of water-saving incentive mechanisms involving various prices meets the challenge of direct responses of farmers to the actual cost of irrigation water, so the issue of price elasticity of irrigation water demand must be addressed. Based on the 237 estimates on price elasticity of irrigation water demand from 59 studies worldwide between 1963 and 2022, this study quantified the key factors contributing to variations in price elasticity through a metaregression analysis. Subsequently, we explored the potential intervention space for agricultural water pricing policies by considering the heterogeneous effects of both price levels and elasticity intervals. The following results were obtained: ① Agricultural water prices had a positive impact on price elasticity, and increasing water prices remained an effective and robust means of agricultural water saving. Moreover, as price elasticity intervals increased, the impact on price elasticity due to price rises became greater, leading to more significant water-saving effects. ② The polyculture structure had higher price elasticity than the monoculture structure, and the price elasticity of high-value crops was lower than that of low-value crops. This indicated that the inhibitory effect of increasing water prices on irrigation water demand was more achievable when practicing polyculture or planting low-value crops. Furthermore, the water-saving effects of increasing water prices became more pronounced with wider price elasticity intervals in polyculture systems, whereas for farmers growing low-value crops, the watersaving effects of increasing water prices were more noticeable when the initial water price level was already high. ③ Compared to irrigation system reliant on a single water source, irrigation systems utilizing multiple water sources showed greater sensitivity to water price increases. This highlighted the optimal timing of water price adjustments based on the elasticity interval, which could effectively encourage the implementation of new irrigation water source substitution projects. The empirical results provide policy implications for further deepening the comprehensive reform of agricultural water prices and building a water-saving society in China. More emphasis should be placed on the management of irrigation water demand, and the strategy of raising agricultural water prices should be determined by the response degree of irrigation water demand to water prices. Moreover, differentiated agricultural water pricing schemes should be formulated according to the regional cropping structure. Simultaneously, scientific water use prediction based on the price elasticity of irrigation water demand should be included in the demonstration stage of irrigation water source expansion projects. [ABSTRACT FROM AUTHOR]

The energy crisis that began in the second half of 2021, exacerbated by the Russian-Ukrainian war, created unexpected difficulty for European Union Member States in terms of shaping their energy policies. Hungary was one of the most vulnerable countries, whose economic development was fraught with severe risk due to the strong dependence on Russian energy sources and regulated energy prices for households, significantly slowing down the transition to green energy. The sharp change in energy prices due to the introduction of a price cap in 2013-2014 and the partial adjustment in 2022 draws attention to the situation of Hungarian energy demand. This study describes the absolute short-term price elasticities of Hungarian household natural gas and electricity demand and gas and electricity cross-price and income elasticities of the former for income deciles between 2010 and 2021 using the midpoint percentage method. The results show that electricity demand is more elastic than gas demand, implying that Hungarian household consumers are more responsive to changes in electricity prices than those of gas. In addition, low-income Hungarian households are more sensitive to changes in both of the latter than high-income households, while no consistent pattern is identified in the relationship between income and energy demand. Accordingly, the study recommends the implementation of a multi-tariff pricing strategy based on the energy burden of the income deciles. This should particularly target the first two deciles, which are the most vulnerable and sensitive to energy price changes. [ABSTRACT FROM AUTHOR]

ObjectivesThere is still no study focused on willingness to pay for long-acting injectable cabotegravir (CAB-LA) after it was available on the market in the United States in 2021. Here, we explored the willingness to pay for CAB-LA and associated factors and price elasticity of demand (PED) of CAB-LA among men who have sex with men (MSM) in Guangxi, China.MethodsA cross-sectional study was conducted. Univariate and multivariate ordinal logistic regression analyses were performed to explore the associated factors of willingness to pay for CAB-LA. PED was used to measure the change in the number of participants willing to pay to a change in price.ResultsA total of 1,006 MSM were recruited, among which 84.1% were aged between 18 and 39 years old. The median (interquartile) of the maximum amount of willing to pay for CAB-LA was 200 (100–500) Chinese yuan (CNY) per month. Most (84.2%) were willing to pay less than 600 CNY per month. The number of participants willing to pay for CAB-LA significantly increased with decrease in the price. When the price (CNY per month) decreased from 600 to 500, 500 to 400, 400 to 300, and 300 to 200, PED was 3.13, 1.64, 1.33, and 1.17, respectively. The maximum amount of willing to pay for CAB-LA was positively associated with younger age (vs. ≥40 years group, 18–24 years group, aOR: 1.94, 95% CI: 1.32–2.85; 25–39 year group, aOR: 1.70, 95% CI: 1.20–2.42), being high educated (vs. middle school or lower group, high school or college group, aOR: 1.61, 95% CI: 1.06–2.48; bachelor’s degree or above group, aOR: 2.21, 95% CI: 1.41–3.49), monthly income ≥6000 CNY (vs.

Abstract Background The WHO highlight alcohol, tobacco, unhealthy food, and sugar-sweetened beverage (SSB) taxes as one of the most effective policies for preventing and reducing the burden of non-communicable diseases. This umbrella review aimed to identify and summarise evidence from systematic reviews that report the relationship between price and demand or price and disease/death for alcohol, tobacco, unhealthy food, and SSBs. Given the recent recognition as gambling as a public health problem, we also included gambling. Methods The protocol for this umbrella review was pre-registered (PROSPERO CRD42023447429). Seven electronic databases were searched between 2000–2023. Eligible systematic reviews were those published in any country, including adults or children, and which quantitatively examined the relationship between alcohol, tobacco, gambling, unhealthy food, or SSB price/tax and demand (sales/consumption) or disease/death. Two researchers undertook screening, eligibility, data extraction, and risk of bias assessment using the ROBIS tool. Results We identified 50 reviews from 5,185 records, of which 31 reported on unhealthy food or SSBs, nine reported on tobacco, nine on alcohol, and one on multiple outcomes (alcohol, tobacco, unhealthy food, and SSBs). We did not identify any reviews on gambling. Higher prices were consistently associated with lower demand, notwithstanding variation in the size of effect across commodities or populations. Reductions in demand were large enough to be considered meaningful for policy. Conclusions Increases in the price of alcohol, tobacco, unhealthy food, and SSBs are consistently associated with decreases in demand. Moreover, increasing taxes can be expected to increase tax revenue. There may be potential in joining up approaches to taxation across the harm-causing commodities.

Background: The WHO highlight alcohol, tobacco, unhealthy food, and sugar-sweetened beverage (SSB) taxes as one of the most effective policies for preventing and reducing the burden of non-communicable diseases. This umbrella review aimed to identify and summarise evidence from systematic reviews that report the relationship between price and demand or price and disease/death for alcohol, tobacco, unhealthy food, and SSBs. Given the recent recognition as gambling as a public health problem, we also included gambling. Methods: The protocol for this umbrella review was pre-registered (PROSPERO CRD42023447429). Seven electronic databases were searched between 2000–2023. Eligible systematic reviews were those published in any country, including adults or children, and which quantitatively examined the relationship between alcohol, tobacco, gambling, unhealthy food, or SSB price/tax and demand (sales/consumption) or disease/death. Two researchers undertook screening, eligibility, data extraction, and risk of bias assessment using the ROBIS tool. Results: We identified 50 reviews from 5,185 records, of which 31 reported on unhealthy food or SSBs, nine reported on tobacco, nine on alcohol, and one on multiple outcomes (alcohol, tobacco, unhealthy food, and SSBs). We did not identify any reviews on gambling. Higher prices were consistently associated with lower demand, notwithstanding variation in the size of effect across commodities or populations. Reductions in demand were large enough to be considered meaningful for policy. Conclusions: Increases in the price of alcohol, tobacco, unhealthy food, and SSBs are consistently associated with decreases in demand. Moreover, increasing taxes can be expected to increase tax revenue. There may be potential in joining up approaches to taxation across the harm-causing commodities. [ABSTRACT FROM AUTHOR]

Purpose: The aim of the article is to determine the price sensitivity of students to their favorite applications and programs. Design/methodology/approach: The main research problem is: What is the price sensitivity of students to their favorite applications and programs? The study was conducted using the quantitative method, the survey technique on students in Krakow (Poland) in May and June 2023. The research sample was 424 people. Findings: Every second student would not give up Messenger if it was paid at an affordable price, every third from Instagram and Spotify, every fourth from YouTube, and every fifth from TikTok. They would be less willing to pay, for example, for Facebook. Every third student would be willing to pay up to PLN 20 per month for their favorite application or program (above this amount, they would rather not use it than pay). Every fifth respondent indicated PLN 30 per month as the upper limit. The vast majority of students (71%) declared that if the respondents' favorite application or program was paid at an affordable price, they would continue to use it. One in four respondents said they would look for a replacement (25%). Research limitations/implications: Studying price sensitivity in the new technologies sector is a complex problem and the research presented in this work covers only selected aspects in this field. Practical implications: The research results show young people's declarations of price changes in the new technologies sector. Could raising the prices of their favorite apps cause them to use them less? The new technologies sector can use the research results to set prices for selected applications or programs. Social implications: The research conclusions can be used to determine whether price manipulation for new technologies can result in less use of them by young people, and thus have a positive social effect. Originality/value: The study provides insights into the willingness of students to pay for these services and identifies specific preferences and behaviors regarding the use of paid and free versions of applications. The research results can be used by owners of online platforms, marketers, educators and students. [ABSTRACT FROM AUTHOR]

This article aims to estimate an equation for parcels demand of the Brazilian Post, cash modality, as well as to determine the price elasticity and the income elasticity of parcels demand in light of economic theory and the brazilian e-commerce scenario. The results show a price-elastic demand and sensitive to income variations. The level of e-commerce development have a negative impact on the volume of orders in cash modality. In the opposite direction, the development of e-commerce has a significant positive impact on the global quantity of postal parcels (sum of cash and invoice modalities) – and can be considered as the main driver of demand for parcels in Brazil and in other posts around the world. [ABSTRACT FROM AUTHOR]

Copyright of Revista Electrónica de Investigación en Ciencias Económicas (REICE) is the property of REICE: Revista Electronica de Investigacion en Ciencias Economicas and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The presented article focuses on the issue of customer segmentation in the hospitality industry and its use for price optimisation. To identify the market segments article uses the Two-Step cluster analysis. The analysis was based on the seven variables (length of stay, average room rate, distribution channel, reservation day, day of arrival, lead time and payment conditions). Six clusters were identified as following segments: Corporates, Early Bird Bookers, Last Minute Bookers, Product Seekers, Values Seekers and Last Minute Bookers. To optimise the price for these segments, article works with the coefficient of price elasticity of demand for the presented market segments. The price elasticity of demand is measured by the log-log regression analysis. Data were colected from the four-star hotel in Prague, Czech Republic and analysis is based on more than 9000 transactions. Last minute bookers segment was the only one with the positive coefficient of price elasticity and has the lowest value of lead time (9,27 in average). Product seekers have the highest coefficient of price elasticity (−3,413) and highest average room rate (3573 CZK in average). Early bird bookers, Long time stayers, Corporates and Value seekers was identified as pricely inelastic. [ABSTRACT FROM AUTHOR]

The renowned van der Waals (VDW) state equation quantifies the equilibrium relationship between the pressure P, volume V, and temperature kBT of a real gas. We assign new variable interpretations adapted to the economic context: P→Y, representing price; V→X, representing demand; and kBT→κ, representing income, to describe an economic state equilibrium. With this reinterpretation, the price elasticity of demand (PED) and the income elasticity of demand (YED) are non-constant factors and may exhibit a singularity of the cusp-catastrophe type. Within this economic framework, the counterpart of VDW liquid–gas phase transition illustrates a substitution mechanism where one product or service is replaced by an alternative substitute. The conceptual relevance of this reinterpretation is discussed qualitatively and quantitatively via several illustrations ranging from transport (carpooling), medical context (generic versus original medication), and empirical data drawn from the electricity market in Germany.

Dynamic pricing is frequently used in online marketplaces, ticket sales, and booking systems. The commercial principles of dynamic pricing systems are often kept secret; however, their application causes complex changes in human behavior. Thus, a scientific tool is needed to evaluate and predict the impact of dynamic pricing strategies. Publications in the field lack a common quality evaluation methodology, public data, and source code, making them difficult to reproduce. In this paper, a data-driven method, DPRank, for evaluating dynamic pricing systems is proposed. DPRank first builds a surrogate price elasticity of demand model using public data generated by a hidden dynamic pricing model, and then applies the surrogate model to build an exposed dynamic pricing model. The hidden and exposed dynamic pricing models were then systematically compared in terms of quality using a Monte Carlo simulation in terms of a company’s revenue. The effectiveness of the proposed method was tested on the dataset collected from the website of a Russian railway passenger carrier company. Depending on the train type, the quality difference between the hidden and exposed models can vary by several dozen percent on average, indicating the potential for improving the existing (hidden) company’s dynamic pricing model.

ABSTRACTThis paper examines the role of addiction in influencing the demand for e-cigarettes using the Nielsen Retail Scanner Data and the Nielsen Consumer Panel Data between 2012 and 2017. With a comparison of a myopic addiction model, a forward-looking model, and a rational addiction model, this paper tests whether the consumption of e-cigarettes is addictive and rational. Results from both the macro data and the microdata support the rational addictiveness of e-cigarettes. Applying an OLS method and an instrumental variable method in causal inference, results show that the long-run price elasticity estimates are larger than the estimates of the short-run price elasticity of demand for e-cigarettes. Estimates of both long-run and short-run elasticities are greater than one, −1.50 and −1.05, suggesting e-cigarette demand is elastic in both the long run and short run.

Bread is a basic and essential good that has a special importance in the consumer basket of households and constitutes the main food of many people in the world. The main objective of this study was to investigate the consumption behavior of household bread basket using demand systems during 1998-2018. Therefore, estimates of various demand systems including generalized ordinary demand, Almost Ideal Differential Demand, Rotterdam, Central Bureau of Statistics (CBS) and National Bureau of Research (NBR) were used to select the appropriate demand system to calculate the price and income elasticities of bread demand. Based on statistical tests and econometric criteria, the results showed that the generalized ordinary demand system was the most appropriate model for estimating the consumption demand of the bread basket in urban households. The income elasticities of all types of bread were positive, and, for urban consumers, Barbari and industrial bread were essential and Lavash, Sangak, and Taftoon were luxury types. Also, according to the negative expectations and cross elasticities of Sangak with Barbari, self-price elasticities of different types of bread were positive, meaning that Sangak was replaced by Barbari. In addition, the variable effect of subsidy targeting was positive for Taftoon and Lavash breads, negative for Barbari, and meaningless for Sangak. According to the study results, it is suggested that government officials pay special attention to the importance of bread consumption basket and preferences of its consumers in economic policies regarding food and household consumption basket (such as targeted subsidies). [ABSTRACT FROM AUTHOR]

Nowadays, the design of supply chain networks should be based on environmental issues as well as the needs of customers since the main driver of a supply chain network is customers. Continuous innovation of products requires understanding the features that are most important to customers, and product pricing should be carried out in a way that includes the satisfaction of both customers and manufacturers. This study uses the Kano model to classify product features into different categories. The design of the green supply chain network based on the Kano model has not been investigated in the literature so far. This study examines a green supply chain network including multiple manufacturers, product types, distributors, and carriers that is designed based on Kano's conceptual model of multiple needs. In the proposed mathematical model of this paper, customer demand is a function of the selling price of the product, transportation pollution is minimized, and a solution based on the Cooperative Game Theory approach is used to solve the mathematical model using the GAMS software. One of the advantages of the proposed mathematical model in this research compared to other supply chain models is that the design needs of the supply chain network based on the Kano model ("must-be", "one-dimensional", "attractive" and "indifferent") can be determined based on customer satisfaction. In addition, the price of the product can be determined according to the satisfaction of both customers and the manufacturers. [ABSTRACT FROM AUTHOR]

The research aims to estimate the demand functions for Egyptian exports of both dried beans and dried onions in the most important global markets using the Almost Ideal Demand System to identify the extent to which it is possible to increase the competitiveness of these products in those markets. The research reached the following results: 1- The most important importing countries of dried beans in terms of value are Algeria, Turkey and Iraq, with a relative importance of about 24.5%, 16.7%, and 12.5%, respectively, during the period (2018-2022). 2- The most important countries importing dried onions in terms of value are the Netherlands, Germany and Japan, with a relative importance of about 24.6%, 18.5%, and 9.5%, respectively, during the period (2018-2022). 3- The results of the Almost Ideal Demand System for dry beans in the Algerian, Turkish, and Iraqi markets showed that the price elasticity of demand reached -0.84, -1.63, and -1.31, respectively. This means that it is a commodity with inelastic demand in the Algerian market and elastic demand in both the Turkish and Iraqi markets. Spending elasticity amounted to about 1.11%, 2.6%, and 0.12%, which indicates that it is a normal commodity in the Algerian and Turkish markets, while it was necessary in the Iraqi market. 4- The results of the Almost Ideal Demand System for dried onions in the German, Dutch, and Japanese markets also showed that the price elasticity of demand reached -3.05, -0.61, and -0.95, respectively. This means that it is a commodity with inelastic demand in the Algerian market and elastic demand in both the Iraqi and Turkish markets. Spending elasticity also reached about 1.75%, 0.82%, and 2.3%, which indicates that it is a normal commodity in the German and Japanese markets, while it was necessary in the Dutch market. [ABSTRACT FROM AUTHOR]

According to the World Health Organisation (WHO), almost a billion people worldwide are at risk of falling into poverty due to out‑of‑pocket health spending, and pharmaceuticals are an integral part of this growing problem. The presented study aims to assess the price and income elasticity of demand for pharmaceuticals across European states over the period 2009–2019. The subject of the analysis is a typical household in each state. The analysis focuses on evaluating interactions in the light of economic growth, thus the results are cross‑referenced with the countries’ development groups to pinpoint any similarities and contrasts within and between clusters. The results indicate that households in underprivileged regions have a higher responsiveness to economic stimuli than in prosperous states. Both the income and price elasticities indicate the existence of unmet need for pharmaceuticals due to insufficient financial resources. Moreover, households’ responsiveness to income and price changes varies across time, states and affluence development groups.

The research on price elasticity of demand, especially in the field of transportation, has high theoretical and application value. Based on the perspective of price elasticity of demand, the study presents the impact of adjusting expressway rates on the traffic flow of cars with seven seats or less. The data are from the measured data of the Shanghai expressway Electronic Toll Collection (ETC) from 2019 to 2020. In order to eliminate the impact of the surge of ETC users in 2019 on the results, Empirical Mode Decomposition (EMD) is used to optimize the data. The research shows that the price elasticity of demand will increase with the increase in charge amount (distance). [ABSTRACT FROM AUTHOR]

Aims: Smoking in youth remains a major public health issue. As increasing tobacco prices is considered one of the most effective prevention strategies, examining youth's responsiveness to price changes on cigarettes will provide crucial knowledge. This study aims systematically to review research examining the price elasticity of demand for cigarettes among youths (<30 years of age) in high-income countries. Methods: Searches were conducted in three databases (Web of Science, Pubmed and Scopus). Inclusion criteria were publications within the past 10 years (2011–2021) written in English and with a population of youths below 30 years of age, concerning price elasticity of demand for cigarettes and from high-income countries. Searches were screened by two independent reviewers and the quality of studies was assessed using a quality assessment tool. Results: Four outcomes related to price elasticity of demand for cigarettes were examined in six studies included in this review; that is, cigarette initiation, consumption, prevalence and cessation. Overall, findings indicate that increasing tobacco prices affect youth tobacco use. The effect was associated with gender and age; young women were more price sensitive concerning smoking initiation, whereas young men were more price sensitive concerning cigarette prevalence and consumption. Moreover, younger age was associated with higher price elasticity. Conclusions: Estimates for price elasticity varied across the included studies. This may be caused by differences in data sources, collection methods used and country of origin. Most included studies were of older date. Therefore, to make reliable predictions of the expected effects of increased tobacco prices, further examinations of up-to-date and locally embedded measures are required. [ABSTRACT FROM AUTHOR]

In modern global supply chain system strategies, the importance of risk management to prevent disruption thereto is increasing. One efficient approach for overcoming this problem is a collaboration between manufacturers and retailers. This study extends a deterministic supply chain model based on the joint economic lot-sizing problem (JELP) to a stochastic programming model, which considers the uncertainty of price sensitive demand. A comparison of the results from numerical experiments based on individual and cooperative models suggests that a manufacturer-retailer collaboration could be beneficial in increasing the overall profit of the entire supply chain system. For instance, total profits were increased by 0.11-12.92% under joint optimization in the range of parameters used in this paper and the growth ratio was considerably higher for the cases in which the demand was more price sensitive. However, the above collaboration can decrease the retailer's profits. For this reason, this study proposes and formulates a collaborative model by adding profit constraints to the above model. As a result, the diminution of the retailer's profits is decreased to 0.0020-0.0164%, that is, the proposed model is able to maximize the total profit by minimizing the reduction of the profits for both the manufacturer and the retailer as much as possible. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Accounting & Management is the property of Croatian Accountant and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Estimating price elasticity of demand for electric vehicle charging contributes to the accurate determination of charging price, thereby improving electric vehicle adoption and energy sustainability. However, few studies have studied the impact of electricity price on electric vehicle charging behavior, especially the demand spillover effect caused by price fluctuations. To fill the gaps, on a citywide dataset of public charging piles in Shenzhen, China, first, correlation coefficients and hypothesis tests are used to determine the relationship between charging demand and price. A learning model incorporating two-layer graph attention, temporal pattern attention, and knowledge-embedded meta-learning is developed for accurate spatio-temporal regression. Impulse response analysis is conducted to unravel several noteworthy phenomena: (1) public charging demand is inelastic to electricity price, with an average elasticity of − 0. 76 , and distinction between different functional areas and times is revealed; (2) negative price impulses marginally change the elasticity, while positive ones make electric vehicle charging users more price sensitive, and (3) the spillover effects caused by price increases and decreases bring 89.48% and 53.88% of its local demand changes to neighbors, respectively, with a scope of 3.45 kilometer. These findings provide policy implications for promoting electric vehicle charging to facilitate renewable energy transition. • A deep learning regression model and impulse response analysis are used. • The differential effects of price across time and space are revealed. • The magnitude and scope of the spillover effect are quantified. • Relevant policy recommendations are put forward. [ABSTRACT FROM AUTHOR]

The smart grid model is developed with some changes to help in implementing a demand response program which was initially developed for a Pecan Street project. Correspondingly, the real-time solar and load data are collected from the data port for the city of Austin. A single day is selected for our analysis of all four seasons of the year. The flat rate, and real-time and day-ahead pricing information are collected from ComEd. The key challenge for addressing business problems is the flexibility of consumption. However, without considering the properties of loss aversion, the system would not be a practical solution. So, in this article, a dynamic demand response program based on price elasticity that integrates loss aversion characteristics is proposed. The proposed system is compared for all pricing schemes and all seasons. Four scenarios are created for peak time rebate with different combinations of loss aversion factor values and all the possible combinations of rebates. This article directs how these combinations could change the demand curve and how the utility can make a decision about the specific importance of the criteria, such as the total demand carrying capacity, peak demand reduction, and in obtaining optimum profit for utility and the consumer.

This paper empirically studied how Airbnb supply and business cycles affected the price elasticity of room demand (PED) in the hotel industry. Economic theory points out that demand becomes more elastic as there exist more close substitutes in the market. Moreover, market elasticities can vary either procyclically or countercyclically across the business cycles. Using monthly operation data of Taipei's international tourist hotels (ITHs) from 2009 (debut of Airbnb in Taipei) to 2016 and exploiting a Markov regime-switching model, this study finds that total listings of Airbnb were positively associated with PED during the peaks (i.e. high price elasticity of demand). Thus, the Airbnb supply posed a substitution threat to the hotel industry in Taipei. For the effect of business cycles, this study found that elasticities of room demand exhibited a countercyclical nature in the Taipei ITH market. [ABSTRACT FROM AUTHOR]

Objective: The objective of this study was to estimate the price elasticity of demand for 3 common equine veterinary services: vaccinations (a routine service), lameness examinations (an elective service), and emergency colic surgery (an urgent service)., Methods: Data were collected via a nationwide online survey of horse owners from August 15 to September 11, 2023, eliciting their willingness to pay for each service. The link to the online survey was distributed through participating organizations' social media and email lists to the target audience of US residents aged ≥ 18 years who were financially responsible for at least 1 horse, pony, mule, or donkey. Statistical software was used to estimate the demand models., Results: The survey received a total of 4,915 usable responses, with at least one response from every state in the US. Results revealed elastic demand for all 3 services and subsample analyses provided reassurance as to the robustness of the results, suggesting that quantity demanded of these services would decrease more in a relative sense as compared to the increase in price., Conclusions: Understanding the current and future trends of equine veterinary service demand is vital in ensuring the long-term financial sustainability of equine veterinary practices. Moreover, due to vast differences in the pricing structure of small animal and equine practice procedures, business models for these types of practices should be treated separately., Clinical Relevance: Although it may seem counterintuitive for practice growth, the estimated price elasticity of demand suggests that strategic price increases could enhance profitability. While higher prices may reduce service volume, they could also lead to lower costs, potentially offsetting any revenue reduction. Moreover, the findings on elastic demand can also inform decisions regarding discounts, service bundles, and the development of tiered service offerings.

Objectives: There is still no study focused on willingness to pay for long-acting injectable cabotegravir (CAB-LA) after it was available on the market in the United States in 2021. Here, we explored the willingness to pay for CAB-LA and associated factors and price elasticity of demand (PED) of CAB-LA among men who have sex with men (MSM) in Guangxi, China., Methods: A cross-sectional study was conducted. Univariate and multivariate ordinal logistic regression analyses were performed to explore the associated factors of willingness to pay for CAB-LA. PED was used to measure the change in the number of participants willing to pay to a change in price., Results: A total of 1,006 MSM were recruited, among which 84.1% were aged between 18 and 39 years old. The median (interquartile) of the maximum amount of willing to pay for CAB-LA was 200 (100-500) Chinese yuan (CNY) per month. Most (84.2%) were willing to pay less than 600 CNY per month. The number of participants willing to pay for CAB-LA significantly increased with decrease in the price. When the price (CNY per month) decreased from 600 to 500, 500 to 400, 400 to 300, and 300 to 200, PED was 3.13, 1.64, 1.33, and 1.17, respectively. The maximum amount of willing to pay for CAB-LA was positively associated with younger age (vs. ≥40 years group, 18-24 years group, aOR: 1.94, 95% CI: 1.32-2.85; 25-39 year group, aOR: 1.70, 95% CI: 1.20-2.42), being high educated (vs. middle school or lower group, high school or college group, aOR: 1.61, 95% CI: 1.06-2.48; bachelor's degree or above group, aOR: 2.21, 95% CI: 1.41-3.49), monthly income ≥6000 CNY (vs. <3000 CNY, aOR: 1.46, 95% CI: 1.02-2.09), being bisexual/unsure sexual orientation (vs. gay, aOR: 1.73, 95% CI: 1.24-2.43), and heard of PrEP and used (vs. never heard of PrEP, aOR: 1.76, 95% CI: 1.11-2.77)., Conclusion: The maximum amount of willing to pay for CAB-LA was low in Guangxi, China. PED of CAB-LA is relatively elastic. The waived patent protection should be considered for the wide promotion of CAB-LA, and the health education should be strengthened to improve the recognition of CAB-LA., Competing Interests: The authors declare that the research was conducted in the absence of any commercial or financial relationships that could be construed as a potential conflict of interest., (Copyright © 2024 Chen, Ruan, Liu, Pei, Jiang, Huang, Wei, Qin, Dai, Liu, Liu and Xie.)

To solve the problems that electricity demand was affected by multiple disturbance factors in the electricity market, and the price elasticity of demand was increased, for obtaining more accurate and comprehensive power load forecast value, the cuckoo search algorithm and support vector machine ( CS-SVM) short-term load forecasting method was proposed with considering demand price elasticity. The Pearson correlation coefficient method was used to analyze the load autocorrelation and the correlation among load and historical load temperature, humidity, electricity price, load difference and electricity price difference. Based on the definition of demand price elasticity, a demand price elasticity model was established to reflect the impact of electricity market transactions on load. The cuckoo search algorithm was used to optimize the parameters of support vector machine, and the CS-SVM short-term load forecasting model was established with considering the price elasticity of demand. The actual data of a certain state in the PJM power market in the United States was taken as example to conduct the prediction, and the prediction error was compared with that of comparison model. The results show that the average relative percentage error of the proposed model is 13. 43 %, and the prediction accuracy is improved by 5. 31 % compared with that of the model without introduction of demand price elasticity. [ABSTRACT FROM AUTHOR]

Demand response (DR) is an attractive concept that invites customers' active participation in the distribution sector by means of price elasticity of demand (PED). It not only enhances customers' demand sensitivity but also improves technicalities and economics related to both the utility and demand sides. This paper emphasizes the combined effect of price-based DR (PBDR) and incentive-based DR (IBDR) with the inclusion of PED. The elasticity phenomenon, when applied with incentives as in IBDR, changes the demand-consumption pattern as compared to individual DR. Moreover, the demand variation due to only incentives leads to incentive elasticity, which needs to be studied carefully; then only the impact of individual DR and augmented DR (PBDR and IBDR combined) can be understood analytically. In this work, IBDR models are tested on considered pricing schemes along with a new proposed pricing scheme to evaluate the systems' technical and economical parameters. A standard IEEE 33 bus distribution system has been chosen for the assessment of suggested models and to compare them to the existing ones. Furthermore, these models are descriptively evaluated from both the utility and consumer perspectives. • An augmented IBDR structure combining the effect of incentive with elasticity is proposed. • It offers a thorough analytically enhanced DR framework to distinguish elasticity based on price and incentive term. • The proposed augmented IBDR model is evaluated critically under various suggested and current pricing schemes. • The technical and economic analysis of DR is examined from the utility's and the customer's points of view. [ABSTRACT FROM AUTHOR]

• The price elasticity of parking demand in the Japanese coin-parking market was estimated. A field survey of parking prices and demand was conducted. • A Heckman-type sample selection model with instrumental variables were used. • Price elasticity estimates ranged from about –1.683 to –0.9971. Existing evidence suggests that the demand for parking is inelastic. This study investigates the price elasticity of parking demand in the Japanese coin-parking market, which is characterized by near-free-market conditions. A field survey of parking prices and demand in an approximately 8 km2 area in the center of Hiroshima City was conducted. The prices per 10 min were collected from 949 parking lots, and occupancy rates were observed for 133 parking lots from afternoon to evening. The estimation results, using a Heckman-type sample selection model with instrumental variables, reveal that price elasticity ranged from –1.683 to –0.9971, which is higher than the estimates of previous studies in terms of absolute value. This difference can be attributed to the characteristics of the target area where alternative parking spaces and transportation options are readily available. Our results also indicate that parking operation companies have difficulty raising price in areas with high parking density due to competition, resulting in the increase in the attractiveness of automobiles relative to public transportation. Parking price would need to be controlled to manage urban traffic. [ABSTRACT FROM AUTHOR]

Abstract Background The long border of Saudi Arabia with Yemen is the primary route for khat entry to the Kingdom. As of April 2015, the government of SA tightened the border, making it more difficult to import khat into the country. As a result, local user prices of khat probably increased due in part to higher supply costs and perhaps lower quantities. One anti-drug strategy is to increase consumption cost by increasing the price of supply. We aim in this study to measure the responsiveness of khat demand to price changes. Methods This study used a cross-sectional survey design. Two stage sampling was used to recruit 350 khat chewers from four selected primary healthcare centers in Jazan province (South western province of Saudi Arabia). The data were collected during the first quarter of 2017. This study used both contingent valuation and revealed preference methods to assess the impact of price increases on the purchasing of khat. Graphical analysis, paired-samples t-test, and one-way repeated measures analysis of variance (ANOVA) were used to assess the impact of price increases on khat consumption. Results The study results showed a significant decrease in khat consumption amount (t = 8.63, p ≤ 0.05), frequency (t = 30.42, p ≤ 0.05), and expenditure (t = 34.67, p ≤ 0.05) after the tightening of the Saudi–Yemeni border. Hence khat demand is price elastic. The price elasticity of khat demand in Jazan is estimated to be between − 2.38 and − 1.07. Therefore, each 1% increase in price is associated with 1–2% reduction in quantity demanded. This means khat chewers are relatively responsive to price changes (i.e., khat demand is price elastic). Repeated measures analysis of variance showed price increases significantly affect the quantity {F(4, 2.58) = 257, p ≤ 0.05, ηp2 = 0.423} and frequency {F(4, 1.83) = 415, p ≤ 0.05, ηp2 = 0.543} of khat chewing. Conclusions Increased prices for khat would significantly decrease demand. Accordingly, we recommend implementing law enforcement strategies focused on disrupting the khat supply chain to realize high prices and so discourage use, hence reducing the incidence of khat-related illnesses.

The change of customer behaviors and the fluctuation of spot prices can affect the benefits of electricity retailers. To address this issue, an incentive-based demand response (DR) model involving the utility and elasticity of customers is proposed for maximizing the benefits of retailers. The benefits will increase by triggering an incentive price to influence customer behaviors to change their demand consumptions. The optimal reduction of customers is obtained by their own profit optimization model with a certain incentive price. Then, the sensitivity of incentive price on retailers' benefits is analyzed and the optimal incentive price is obtained according to the DR model. The case study verifies the effectiveness of the proposed model.

Before the reality of COVID 19 surfaced, many universities faced economic uncertainties due to decreased revenues. Small, private, nonprofit universities are tuition-dependent and must lower costs to remain financially viable. This study investigates how much students understand about the financial situation of their University and how the decrease in university spending impacted student experience. We surveyed a sample (n=30) of recent graduates from the business department of a small, private, nonprofit university to gain a better understanding of how recent graduates perceived the financial decisions made by the administration and the outcomes of those decisions on their experiences. Questions asking about program cuts and other substantial decreases showed that these actions were widely recognized by students, even as the administration worked hard to limit their effects on the overall student experience. The findings indicate that most students are aware of the University's financial state, so leaders must develop communication strategies for current students and alumni built on trust and transparency as part of an overall strategy for long-term financial sustainability. [ABSTRACT FROM AUTHOR]

The dairy industries in California, Idaho, and New Mexico expanded rapidly during the early 2000s. This study focuses on the expansion effects on milk-to-hay price responsiveness. Dairy industry expansion makes hay markets tighter, with less available marketable supply in most periods. The empirical models account for the expansion effect as well as those from hay exports and low stocks-to-use ratios that also cause changes in hay market demand characteristics. The results show that hay-to-milk price responsiveness increased after dairy expansion in all analyzed states. Low stocks-to-use and high exports dampened the responsiveness, but were not statistically significant for all analyzed states. [ABSTRACT FROM AUTHOR]

Research background: An essential part of marketing practice in contemporary food retail is the store flyer campaign, in which goods are offered at discounted prices. Even if it is not a new innovation in the field of sales promotion, its popularity does not decrease, and what’s more, in many countries it is still one of the most successful forms of promotion and communication with customers. Purpose of the article: This article brings an answer to the question of how to plan a successful store flyer campaign. The goal is to design the process of planning such campaign based on the knowledge of price elasticity of demand. The rate of success is represented by the level of fulfillment of goals set by the merchant. Methods: The area of the research is the Czech retail food market . The knowledge of the price elasticity of demand is based on the analysis of real terms of prices, sales volumes and margins, and the typology of goals we want to achieve. The proposed method of planning determines the evaluation rules for products in terms of their suitability for inclusion in a store flyer. The calculated values of price elasticity of demand and their changes during the time phases of the campaign are used as a knowledge base for a planning of consumers’ responses to the store flyer. The principle of planning is demonstrated in a case study. Findings & Value added: The practical output of the proposed process is the answer to the question of which goods should be included in the store flayer to achieve the goals set for the campaign. This study gives the method of identifying the groups of products which are suitable for inclusion in the store flyer and recommends the rules for the planning of the campaign.

Water problem in the Colombo city has aggravated over the time. Thus, encouraging consumers for responsible water consumption is imperative. As the city is almost completely reliant on pipe-borne water, water tariff could be utilized in this effort. However, as water is a basic need and a human right, an upward revision of tariff should not deprive consumers from satisfying essential needs, while discouraging wasteful consumption. Therefore, this study attempted to identify whether the consumers are sensitive to changes in water tariff, whether there exists a disparity among different blocks of tariff with respect to Price Elasticity of Demand and identify different sensitivities of levels of consumption to an increase in tariff. In order to achieve the research objectives, the Price Elasticity of Demand for pipe-borne water, overall and block-wise, was analyzed, before and after the last revision of tariff in 2012. Results revealed that after the revision, overall consumption had reduced and out of nine blocks, first three and last two were the least sensitive and the four blocks in the middle were the most sensitive. Thus, it was recommended that in order to discourage wasteful consumption, unit rates of highly sensitive blocks should be increased and to preserve economic efficiency and welfare, the tariff for least sensitive blocks should not be revised significantly.

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• This research analyzes the entire public charging demand of Portugal over a full year with more than 225,000 charging events. • A case study of the emissions impact of Portuguese public electric vehicle charging demonstrates additional emissions reductions can be achieved through pricing mechanisms. • Policies and incentives for vehicle acquisition across seven European countries are compared, replicating results of an earlier study with newer data. • Charging stations can remain profitable while charging more for carbon intense electricity. Passenger cars account for most road transportation emissions, and almost half of overall transport sector emissions in the EU. Countries in Europe have established policies to achieve emissions reductions in the transport sector by incentivizing the acquisition of fuel-efficient vehicles. In this paper, we perform a pair-wise comparison of common passenger vehicles sold in 2017, which implements newer data and more realistic assumptions than an earlier study. The pair-wise study compares an electric vehicle (EV) against a similar combustion vehicle to simulate a real market choice for consumers—a method commonly used to elicit preferences—and shows that fiscal incentives are effective at increasing EV acquisition. Acquiring EVs over conventional vehicles alone contributes to about a 60% reduction per kilometer of well-to-wheel emissions, based on average emissions of new EU vehicle fleets in 2017. A second mechanism at reducing emissions in the transport sector is through incentivizing consumer charging behavior to use less carbon intense electricity. The electricity used to charge EVs is variable throughout a day; therefore, we propose a dynamic pricing mechanism dependent on the carbon intensity of the electricity grid. We do this analysis through a case study for Portugal using the entire country's public charging demands from 2017. The responsiveness of the users to the variable price is reflected by the market price elasticity of demand, and the resulting reduction in demand from the surcharge is approximated. Our study finds that a surcharging mechanism based on the carbon intensity of the electric grid can yield an emissions reduction of 20 tonnes per year while still achieving profits. [ABSTRACT FROM AUTHOR]

Online customer behavior in terms of price elasticity of demand and the effect of time along the booking horizon are key requirements for the price optimization process that allows hotels to maximize their revenues. In this vein, this study adapts the online transient hotel demand functions to deterministic and stochastic dynamic models—two extended optimal pricing methods existing in the literature—in order to determine the prices that maximize the revenues of two resort hotels located in Majorca. The main findings indicate that (1) seasonality, the number of rooms available, the hotel location, and the tourist profile affect dynamic pricing (DP); (2) the booking horizon limitation leads to larger revenue decreases under elastic demand; (3) higher levels in demand elasticities generally produce lower levels of prices; and (4) the distribution of elasticities across the booking horizon and the natural variability of demand have an impact on DP. Implication for industry revenue managers is that they have to consider the booking horizon duration together with the demand price sensitivity in order to maximize the hotel revenues. [ABSTRACT FROM AUTHOR]

This paper assesses household water demand and estimates a demand equation particularly for low-income households in the Philippines. The study uses survey data on the value and volume of household water purchases from different water providers in a government resettlement area. The paper provides empirical evidence on the impact of average water price on household water consumption, as well as the effects of household income and size on household water consumption. The study finds that households buying water from jetmatic pump wells and water tankers pay more than five times that of those served by the piped water system. This much higher cost of water from non-Water District sources could have constrained their water consumption to just about half that of the Water District customers. The estimated water demand equation reveals that demand for water significantly decreases with the average price of water but is only weakly responsive to price changes, with a price elasticity of -0.38. It is also found that water demand is not significantly affected by household income implying that it is not the households' low income but the unavailability of efficient water providers that constrains consumption to a bare minimum. These findings confirm the high vulnerability of low-income households to inadequate and inefficient water providers, necessitating more prudent programming of the resettlement areas' water supply system. [ABSTRACT FROM AUTHOR]

Water managers may modify many components of urban water systems to minimize water shortage. Since each modification activity has its own positive and negative effects, it is necessary to define an appropriate procedure to predict the consequences of each action. As the parameters of urban water supply and demand system have internal relationships in the time domain, a dynamic model is needed to forecast the result of changes and select the best modification activity. Here the Vensim® is applied as a modeling tool to choose the most effective water management activities in Tehran province. It has been found that the annual increase rate of water tariff by 16.4% and assigning 4.5% of revenue on reducing non-revenue water may be the most effective demand management activity to reduce water shortage in Tehran province. It has also been revealed that, even by implementing the most effective demand management activities in Tehran, the amount of required water in the next 10 years is more than the sustainable capacity of its resources and activities like seawater desalination are inevitable to prevent unsustainable use of water sources. [ABSTRACT FROM AUTHOR]

This report summarizes our study of the price elasticity of demand for home appliances, including refrigerators, clothes washers, and dishwashers. In the context of increasingly stringent appliance standards, we are interested in what kind of impact the increased manufacturing costs caused by higher efficiency requirements will have on appliance sales. We begin with a review of existing economics literature describing the impact of economic variables on the sale of durable goods. We then describe the market for home appliances and changes in this market over the past 20 years, performing regression analysis on the shipments of home appliances and relevant economic variables including changes to operating cost and household income. Based on our analysis, we conclude that the demand for home appliances is price inelastic.