scholarly journals Dynamic participation in local energy communities with peer-to-peer trading

2022 ◽  
Vol 2 ◽  
pp. 5
Author(s):  
Theresia Perger ◽  
Hans Auer
Keyword(s):  
Willingness To Pay ◽  
Selection Process ◽  
Peer To Peer ◽  
Added Value ◽  
System Capacity ◽  
Sensitivity Analyses ◽  
Optimal Parameters ◽  
Pv System ◽  
Lower Level Problem ◽  
Level Problem

Background: Energy communities and local electricity markets (e.g., as peer-to-peer trading) are on the rise due to increasingly decentralized electricity generation and favorable adjustment of the legal framework in many European countries.  Methods: This work applies a bi-level optimization model for dynamic participation in peer-to-peer electricity trading to determine the optimal parameters of new participants who want to join an energy community, based on the preferences of the members of the original community (e.g., environmental, economic, or mixed preference). The upper-level problem chooses optimal parameters by minimizing an objective function that includes the prosumers' cost-saving and emission-saving preferences, while the lower level problem maximizes community welfare by optimally allocating locally generated photovoltaic (PV) electricity between members according to their willingness-to-pay. The bi-level problem is solved by transforming the lower level problem by its corresponding Karush-Kuhn-Tucker (KKT) conditions. Results: The results demonstrate that environment-oriented prosumers opt for a new prosumer with high PV capacities installed and low electricity demand, whereas profit-oriented prosumers prefer a new member with high demand but no PV system capacity, presenting a new source of income. Sensitivity analyses indicate that new prosumers' willingness-to-pay has an important influence when the community must decide between two new members. Conclusions: The added value of this work is that the proposed method can be seen as a basis for a selection process between a large number of potential new community members. Most important future work will include optimization of energy communities over the horizon several years.

scholarly journals Assessing social preferences in reimbursement negotiations for new Pharmaceuticals in Oncology: an experimental design to analyse willingness to pay and willingness to accept

2021 ◽  
Vol 21 (1) ◽  
Author(s):  
Dominik J. Wettstein ◽  
Stefan Boes
Keyword(s):  
Willingness To Pay ◽  
Real World ◽  
Cognitive Biases ◽  
Social Preferences ◽  
Standard Of Care ◽  
Added Value ◽  
Amazon Mechanical Turk ◽  
Patient Organisation ◽  
Patient Benefit

Abstract Background Price negotiations for specialty pharmaceuticals take place in a complex market setting. The determination of the added value of new treatments and the related societal willingness to pay are of increasing importance in policy reform debates. From a behavioural economics perspective, potential cognitive biases and other-regarding concerns affecting outcomes of reimbursement negotiations are of interest. An experimental setting to investigate social preferences in reimbursement negotiations for novel, oncology pharmaceuticals was used. Of interest were differences in social preferences caused by incremental changes of the patient outcome. Methods An online experiment was conducted in two separate runs (n = 202, n = 404) on the Amazon Mechanical Turk (MTurk) platform. Populations were split into two (run one) and four (run two) equally sized treatment groups for hypothetical reimbursement decisions. Participants were randomly assigned to the role of a public price regulator for pharmaceuticals (buyer) or a representative of a pharmaceutical company (seller). In run two, role groups were further split into two different price magnitude framings (“real world” vs unconverted “real payoff” prices). Decisions had real monetary effects on other participants (in the role of premium payers or investors) and via charitable donations to a patient organisation (patient benefit). Results 56 (run one) and 59 (run two) percent of participants stated strictly monotone preferences for incremental patient benefit. The mean incremental cost-effectiveness ratio (ICER) against standard of care (SoC) was higher than the initial ICER of the SoC against no care. Regulators stated lower reservation prices in the “real world” prices group compared to their colleagues in the unconverted payoff group. No price group showed any reluctance to trade. Overall, regulators rated the relevance of the patient for their decision higher and the relevance of their own role lower compared to sellers. Conclusions The price magnitude of current oncology treatments affects stated preferences for incremental survival, and assigned responsibilities lead to different opinions on the relevance of affected stakeholders. The design is useful to further assess effects of reimbursement negotiations on societal outcomes like affordability (cost) or availability (access) of new pharmaceuticals and test behavioural policy interventions.

Cost-effectiveness analysis of pembrolizumab for BCG-unresponsive carcinoma in situ of the bladder.

2021 ◽  
Vol 39 (6_suppl) ◽  
pp. 395-395
Author(s):  
Vidit Sharma ◽  
Kevin Wymer ◽  
Christopher Saigal ◽  
Karim Chamie ◽  
Mark S. Litwin ◽  
...  
Keyword(s):  
Sensitivity Analysis ◽  
Cost Effectiveness ◽  
Willingness To Pay ◽  
Carcinoma In Situ ◽  
Cost Effective ◽  
Index Patient ◽  
Price Reduction ◽  
Sensitivity Analyses ◽  
Effectiveness Analysis

395 Background: Patients with BCG-unresponsive carcinoma in situ (CIS) are treated with radical cystectomy (RCx) or salvage intravesical chemotherapy (SIC). Recently, the FDA approved pembrolizumab for BCG-unresponsive CIS +/- papillary tumors. Given the costs and toxicities of pembrolizumab, it remains unclear whether its benefits are sufficient to warrant widespread use for BCG-unresponsive CIS. To that end, we conducted a cost-effectiveness analysis comparing pembrolizumab with RCx and SIC (using gemcitabine-docetaxel as the prototypical regimen) for patients with BCG-unresponsive CIS. Methods: A decision-analytic Markov model compared pembrolizumab, SIC (with gemcitabine-docetaxel), and RCx for patients with BCG-unresponsive CIS +/- papillary tumors who are RCx candidates (index patient 1) or are unwilling/unable to undergo RCx (index patient 2). Each treatment option was a Markov node containing distinct variations of the following health states: surveillance, recurrence, progression to MIBC, progression to metastasis, treatment toxicity, and death. Incremental Cost-Effectiveness Ratios (ICERs) were compared using a willingness-to-pay threshold of $100,000/Quality-adjusted life year (QALY). The model used a US Medicare perspective with a 5-year time horizon for the base case. One-way and probabilistic sensitivity analyses were performed for all model parameters. Results: For index patient 1, pembrolizumab was not cost-effective vs. RCx (ICER $1,403,008) or SIC (ICER $2,011,923). One-way sensitivity analysis revealed that pembrolizumab only became cost-effective relative to RCx with a > 93% price reduction. Relative to RCx, SIC was cost-effective for time horizons < 5 years and nearly cost-effective at 5 years (ICER $118,324). One-way sensitivity analysis revealed that SIC became cost-effective relative to RCx if its risk of recurrence or metastasis at 2 years was less than 55% or 5.9%, respectively. For index patient 2, pembrolizumab required > 90% price reduction to be cost-effective vs. RCx (ICER $1,073,240). Probabilistic sensitivity analyses revealed that pembrolizumab was unlikely to be cost-effective even at high willingness-to-pay thresholds. Further sensitivity analyses found that no two-way combination of extrapolated values resulted in pembrolizumab being favored over RCx or SIC for either index patient. Conclusions: Based on decision-analytic Markov modeling of treatment options for patients with BCG-unresponsive CIS, pembrolizumab was unlikely to be cost-effective without a > 90% price reduction. While both RCx and SIC were more cost-effective than pembrolizumab, further studies may validate the cost-effectiveness of gemcitabine-docetaxel relative to RCx if the recurrence and metastasis thresholds are met. Overall, our model supports the preferential use of RCx and SIC over pembrolizumab for BCG-unresponsive CIS.

scholarly journals Cost-effectiveness analysis of cinacalcet for haemodialysis patients with moderate-to-severe secondary hyperparathyroidism in China: evaluation based on the EVOLVE trial

BMJ Open ◽  
2020 ◽  
Vol 10 (8) ◽  
pp. e034123
Author(s):  
Lin Liu ◽  
Dongsheng Hong ◽  
Kuifen Ma ◽  
Bin Wu ◽  
Xiaoyang Lu
Keyword(s):  
Cost Effectiveness ◽  
Willingness To Pay ◽  
Secondary Hyperparathyroidism ◽  
Treatment Effect ◽  
Conventional Therapy ◽  
Pharmacoeconomic Evaluation ◽  
Sensitivity Analyses ◽  
Secondary Outcome ◽  
Life Years ◽  
The Cost

ObjectiveAs the cost-effectiveness evaluation of cinacalcet and conventional therapy in China has not been reported, the objective of this study was to make a pharmacoeconomic evaluation of cinacalcet specific to the Chinese healthcare setting in patients with moderate-to-severe secondary hyperparathyroidism (SHPT) undergoing dialysis.DesignsData from Evaluation of Cinacalcet Therapy to Lower Cardiovascular Events trial were used for this analysis. A semi-Markov model was constructed to estimate quality-adjusted life years (QALYs) and lifetime costs in cinacalcet plus conventional therapy (cinacalcet strategy) compared with conventional therapy (standard strategy), in patients with moderate-to-severe SHPT undergoing dialysis. Treatment effect estimates from the unadjusted intent-to-treat (ITT) analysis and covariate-adjusted ITT analysis were used as the main analyses. Model sensitivity to variations in individual inputs and overall decision uncertainty were assessed through probabilistic sensitivity analyses.Primary and secondary outcome measuresIncremental cost-effectiveness ratio (ICER) as measured by cost per QALY gained.ResultsThe ICER for cinacalcet strategy was US$44 400 per QALY gained using the covariate-adjusted ITT analysis. Probabilistic sensitivity analysis suggested a 46.2% chance of the ICER being below a willingness-to-pay threshold of US$26 508. Treatment effects from unadjusted ITT analysis yielded an ICER of US$87 210 per QALY. The model was most sensitive to the treatment effect on mortality.ConclusionsExisting evidence does not support the cost-effectiveness of cinacalcet strategy in patients with moderate-to-severe SHPT undergoing dialysis when applying a willingness-to-pay threshold of US$26 508 per QALY, whether it is using the treatment effect from covariate-adjusted ITT analysis or unadjusted ITT analysis.

scholarly journals Solving Signal Control Problems with Second-Order Sensitivity Information of Equilibrium Network Flows

2014 ◽  
Vol 2014 ◽  
pp. 1-12
Author(s):  
Hsun-Jung Cho ◽  
You-Heng Huang
Keyword(s):  
Control Problem ◽  
Network Flows ◽  
Stackelberg Game ◽  
Nonlinear Approximation ◽  
Second Order ◽  
Signal Control ◽  
Reaction Function ◽  
Lower Level Problem ◽  
Level Problem ◽  
Upper Level

The equilibrium network signal control problem is represented as a Stackelberg game. Due to the characteristics of a Stackelberg game, solving the upper-level problem and lower-level problem iteratively cannot be expected to converge to the solution. The reaction function of the lower-level problem is the key information to solve a Stackelberg game. Usually, the reaction function is approximated by the network sensitivity information. This paper firstly presents the general form of the second-order sensitivity formula for equilibrium network flows. The second-order sensitivity information can be applied to the second-order reaction function to solve the network signal control problem efficiently. Finally, this paper also demonstrates two numerical examples that show the computation of second-order sensitivity and the speed of convergence of the nonlinear approximation algorithm.

scholarly journals Human Factors and Organizational Issues in 2015: The Increasing Complexity of the Healthcare Domain Calls for More Comprehensive Approaches

2016 ◽  
Vol 25 (01) ◽  
pp. 126-129 ◽  
Author(s):  
R. Santos ◽  
S. Pelayo ◽  
Keyword(s):  
Human Factors ◽  
Medical Informatics ◽  
Selection Process ◽  
Evaluation Studies ◽  
Added Value ◽  
Health It ◽  
Organizational Issues ◽  
Significant Research ◽  
Selection Of

Summary Objective: To summarize significant research contributions on human factors and organizational issues in medical informatics published in 2015. Methods: An extensive search using PubMed/Medline and Web of Science® was conducted to identify the scientific contributions published in 2015 that address human factors and organizational issues in medical informatics. The selection process comprised three steps: (i) 15 candidate best papers were first selected by the two section editors, (ii) external reviewers from internationally renowned research teams reviewed each candidate best paper, and (iii) the final selection of five best papers was conducted by the editorial board of the Yearbook. Results: Noteworthy papers in 2015 emphasize the increasing complexity of the healthcare environment. They call for more comprehensive approaches and evaluation studies. All provide a real added-value in this direction. Conclusion: There is no more need to promote the contribution of human factors and ergonomics (HFE) approaches to health IT-related risks and patient safety. However, there is still a need for research on HFE methods to adapt health information technology tools to the complexity of the healthcare domain.

Providers Versus Platforms: Marketing Communications in the Sharing Economy

2020 ◽  
Vol 84 (6) ◽  
pp. 22-38
Author(s):  
John P. Costello ◽  
Rebecca Walker Reczek
Keyword(s):  
Willingness To Pay ◽  
Business Models ◽  
Sharing Economy ◽  
Peer To Peer ◽  
Consumer Perceptions ◽  
Marketing Communications ◽  
Marketing Managers ◽  
Individual Provider

Peer-to-peer (P2P) business models have become increasingly prevalent in the marketplace. However, little is known about what factors influence consumer perceptions of purchases from firms using these models. The authors propose that features inherent to the P2P model lead consumers to perceive high provider–firm independence, where providers are viewed as relatively independent from the platform on which they offer goods/services. Across a series of studies, the authors show that when P2P brands use provider-focused (vs. platform-focused) marketing communications, consumers perceive a purchase as helping an individual provider to a greater extent, which increases consumers’ willingness to pay and their likelihood of both making a purchase and downloading the brand’s app. This is because provider-focused marketing communications in this context lead consumers to think about their purchase from the provider’s perspective, thus adopting an “empathy lens.” The authors further show that this effect does not extend to other business models. This work thus identifies provider- (vs. platform-) focused marketing communications as a way for marketing managers of P2P brands to drive important purchase-related outcomes.

Based on Time Series Prediction of Photovoltaic Power Plant Output

2011 ◽  
Vol 383-390 ◽  
pp. 5142-5147
Author(s):  
Wei Guo Li ◽  
Zhi Min Liao ◽  
Xue Lin Sun
Keyword(s):  
Time Series ◽  
Power Systems ◽  
Prediction Model ◽  
Time Series Prediction ◽  
System Capacity ◽  
Stable Operation ◽  
Power Prediction ◽  
Pv System ◽  
Test And Evaluation ◽  
System Output

With the PV power system capacity continues to expand, PV power generation forecasting techniques can reduce the PV system output power of randomness, it has great impact on power systems. This paper presents a method based on ARMA time series power prediction model. With historical electricity data and meteorological factors, the model gets test and evaluation by Eviews software. Results indicated that the prediction model has high accuracy, it can solve the shortcomings of PV randomness and also can improve the ability of the stable operation of the system.

Minimization of cost and congestion management using interline power flow controller

2016 ◽  
Vol 35 (5) ◽  
pp. 1495-1512
Author(s):  
Uma Velayutham ◽  
Lakshmi Ponnusamy ◽  
Gomathi Venugopal
Keyword(s):  
Social Welfare ◽  
Power Flow ◽  
Optimal Power Flow ◽  
Real Power ◽  
Content Type ◽  
Optimal Power ◽  
Lower Level Problem ◽  
Level Problem ◽  
Upper Level ◽  
Power Flow Controller

Purpose The purpose of this paper is to optimally locate and size the FACTS device, namely, interline power flow controller in order to minimize the total cost and relieve congestion in a power system. This security analysis helps independent system operator (ISO) to have a better planning and market clearing criteria during any operating state of the system. Design/methodology/approach A multi-objective optimization problem has been developed including real power performance index (RPPI) and expected security cost (ESC). A security constrained optimal power flow has been developed as expected security cost optimal power flow problem which gives the probabilities of operating the system in all possible pre-contingency and post-contingency states subjected to various equality and inequality constraints. Maximizing social welfare is the objective function considered for normal state, while minimizing compensations for generations rescheduling and maximizing social welfare are the objectives in case of contingency states. The proposed work is viewed as a two level problem wherein the upper-level problem is to optimally locate IPFC using RPPI and the lower-level problem is to minimize the ESC subjected to various system constraints. Both upper-level and lower-level problem are solved using particle swarm optimization and The performance of the proposed algorithm is tested under severe line outages and has been validated using IEEE 30 bus system. Findings The proposed methodology shows that IPFC controls the power flows in the network without generation rescheduling or topological changes and thus improves the performance of the system. It is found that the benefit achieved in the ESC due to the installation of IPFC is greater than the annual investment cost of the device. ISO cannot achieve minimum total system cost by merely rescheduling generators. Instead of rescheduling, FACTS devices can be used for compensation by achieving minimum cost. IPFC can be used to compensate the congested lines and transfer cheaper power from generators to consumers. Originality/value Operational reliability, financial profitability and efficient utilization of the existing transmission system infrastructure has been achieved using single FACTS device. Instead of using multiple FATCS devices, if a single FACTS device like IPFC which itself can compensate several transmission lines is used, then in addition to the facility for independently controlled reactive (series) compensation of each individual line, it provides a capability to directly transfer real power between the compensated lines. Hence an attempt has been made in this paper to incorporate IPFC for relieving congestion in a deregulated environment. However, no previous researches have considered incorporating compensation of multi-transmission line using single IPFC in minimizing ESC. Thus, in this paper, the authors indicate how much the ESC is reduced by installing IPFC.

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