scholarly journals Utility Maximization of Bangladeshi Consumers within Their Budget: A Mathematical Procedure

2021 ◽  
Vol 10 (3) ◽  
pp. 60-85
Author(s):  
Haradhan Kumar MOHAJAN ◽  
Keyword(s):  
Economic Analysis ◽  
Mathematical Analysis ◽  
Lagrange Multipliers ◽  
Utility Maximization ◽  
Budget Constraint ◽  
Mathematical Procedure ◽  
Personal Use ◽  
Economic Analyses ◽  
Utility Problem ◽  
Analysis Prediction

A consumer is considered as a person or a group of people who uses purchased goods, products, or services only for personal use, and not for manufacturing or resale. Consumers usually purchase valuable and useful commodities or goods by spending all or partial of their income. The property of a commodity that enables it to satisfy human wants is called utility. Producers must be conscious to increase the utility among the consumers. This study has considered the maximization of utility problem of consumers of Bangladesh subject to two constraints; namely, budget constraint and coupon constraint. Consequently, in the study two Lagrange multipliers are used and interpreted these with mathematical analysis. Prediction of consumer behavior will help both producers and consumers to take decision of their future economic productions and consumptions, respectively. This article is ornamented with sufficient theorems and economic analyses. So that all the readers find interest when go through the economic analysis of utility maximization.

A Methodology to Conduct a Combined Heating and Power System Assessment and Feasibility Study for Industrial Manufacturing Facilities

2011 ◽  
Author(s):  
Chad Wheeley ◽  
Pedro J. Mago
Keyword(s):  
Economic Analysis ◽  
Feasibility Study ◽  
Prime Mover ◽  
Viable Option ◽  
Industrial Manufacturing ◽  
System Assessment ◽  
Manufacturing Facilities ◽  
Economic Analyses ◽  
Chp System ◽  
Topping Cycle

This paper considers combined heat and power (CHP) systems based on topping cycles only, in which electricity is generated by a prime mover and heat is then recovered from the exhaust and utilized to offset all or a portion of the facility’s process and/or space heating requirements.. The objective of this paper is to develop a methodology to perform a topping cycle CHP assessment and feasibility study for industrial manufacturing facilities. In order to determine the best and most viable option for the facility in question, the proposed methodology can be used to size different systems which utilize diverse technologies and fuel sources, perform an economic analysis of each proposed option, and then compare the benefits and setbacks of each type of CHP system considered. The calculations performed in the economic analysis will then provide a broad insight as to which proposed system will show the best payback if installed. Examples are presented in this paper that describe in detail the application of this methodology, from equipment selection and sizing through economic analyses and proposed system comparisons, which is recommended for use in order to determine the most economically feasible CHP system for an industrial manufacturing facility.

scholarly journals Techno-Economic Analysis of a Hyaluronic Acid Production Process Utilizing Streptococcal Fermentation

Processes ◽  
2021 ◽  
Vol 9 (2) ◽  
pp. 241
Author(s):  
Rafael G. Ferreira ◽  
Adriano R. Azzoni ◽  
Maria Helena Andrade Santana ◽  
Demetri Petrides
Keyword(s):  
Hyaluronic Acid ◽  
Economic Analysis ◽  
Lower Cost ◽  
Value Added ◽  
Production Costs ◽  
Selling Price ◽  
Baseline Scenario ◽  
Adhesive Properties ◽  
Fed Batch Culture ◽  
Economic Analyses

Hyaluronic acid (HA) is a polysaccharide of alternating d-glucuronic acid and N-acetyl-d-glucosamine residues present in the extracellular matrix of connective, epithelial, and nervous tissues. Due to its singular hydrating, rheological and adhesive properties, HA has found numerous cosmetic and medical applications. However, techno-economic analyses of high value-added bioproducts such as HA are scarce in the literature. Here, we present a techno-economic analysis of a process for producing HA using Streptococcus zooepidemicus, simulated in SuperPro Designer. In the baseline scenario, HA is produced by batch fermentation, reaching 2.5 g/L after 24 h. It is then centrifuged, diafiltered, treated with activated carbon and precipitated with isopropanol. The product is suitable for topical formulations and its production cost was estimated as 1115 $/kg. A similar scenario, based on fed-batch culture and assuming a titer of 5.0 g/L, led to a lower cost of 946 $/kg. Moreover, in two additional scenarios, 10% of the precipitated HA is diverted to the production of a highly pure and high-molecular weight HA, suitable for injectable applications. These scenarios resulted in higher capital and operating costs, but also in higher profits, because HA for injectable use has a higher selling price that more than compensates for its higher production costs.

Economic Analysis of Tank Coatings for Tankers in Clean Service

1965 ◽  
Vol 2 (04) ◽  
pp. 380-389
Author(s):  
E. Lee Purlee ◽  
Walter A. Leyland ◽  
W. E. McPherson
Keyword(s):  
Economic Analysis ◽  
Zinc Silicate ◽  
Silicate Coating ◽  
Economic Analyses ◽  
Two Alternatives

An economic analysis has been made of a hypothetical 30,000-dwt tanker operated in continuous, clean service. Under the premise that the ship will continue to operate throughout her remaining book-life in predominantly clean service, two alternatives are considered. Alternative I: Conventional corrosion policy is continued. Annual shipyard repair, including steel renewals and maintenance are performed to the extent required. Alternative II: The required steel renewals are made at the end of the fifth year of service and all tanks are coated with a zinc silicate coating. Annual shipyard repairs and maintenance are subsequently performed to the extent required. In general, the methods consisted of (a) generating steel-renewal requirements by appropriate simulations for the 20 years' book-life of the vessel, and (b) conducting economic analyses of alternatives I and II for comparison. The results of this study indicate that coating the tanks in accordance with alternative II represents a net saving of $998,301 by the end of the vessel's book-life. The payout time on the coating investment was found to be 6.6 years with an average, annual return on the coating investment of 21.9 percent.

SIGNIFICANCE OF LOGISTIC CONTROLLING AS A BASE FOR FILLING GOALS OF BUSINESS STRATEGY

2021 ◽  
Vol 8 (3) ◽  
pp. 209-216
Author(s):  
Katarína Teplická ◽  
Zoltán Szalay
Keyword(s):  
Economic Analysis ◽  
Business Strategy ◽  
Business Management ◽  
Statistical Analyses ◽  
Financial Situation ◽  
Business Goals ◽  
Logistic Management ◽  
Business Profit ◽  
Effective Instrument ◽  
Economic Analyses

Logistics costs form one group of total business costs that fundamentally affect the performance of the firm, which is part of the business strategy orientated to minimize costs. Logistics controlling has to be part of the business management system for a reasonable evaluation of the performance of logistic processes and their influence to profit. The main goal of this paper to points to the significance of synergy of economic analysis, statistics, logistic controlling, dashboarding for filling the aims of business strategy. Effective logistic management the means of optimizing logistics costs, improvement of logistic processes, and achieving a business profit. We use economic, statistical analyses, controlling, dashboarding, and a questionary survey in this paper. An effective tool for improving the goals of business strategy in the logistic area is the implementation of logistics controlling presented by software EIS Dominant, results of analyses by a dashboarding, logistic performance by statistic, and economic analyses. Results of all analyses point to reducing logistic costs and improving the financial situation. This fact is an effective instrument for logistic improvement and innovation in logistic processes, implementation of logistics controlling. Logistics controlling is a system of rules which helps achieve business goals by minimizing costs.

Aid Motivation and Donor Behavior

2007 ◽  
Vol 5 (1) ◽  
Author(s):  
Shyam Nath ◽  
Keyword(s):  
Income Distribution ◽  
Utility Function ◽  
Foreign Aid ◽  
Utility Maximization ◽  
Analytical Framework ◽  
Budget Constraint ◽  
Aid Allocation ◽  
Donor Behavior ◽  
Trade Performance

This paper develops an analytical framework to explain foreign aid motivation and donor behavior, using an interdependent utility maximization framework, in which donor faces two constraints; its own budget constraint and the recipient's utility function. This paper specifically contributes to the literature on foreign aid by integrating the various objectives underlying aid allocation, namely recipient income and trade performance, international income distribution and donor reaction to fungibility. Between trade interest and international income distribution, the former is found to be a more common consideration in aid allocation. One of the important results is that the fungibility of foreign aid is established as a major problem so as to invite donor’s retaliation. However, the retaliatory response appears to co-exist with other motivations.

Analysis of CPV System Vis-à-Vis SPV System for an Educational Institution In India

2014 ◽  
Vol 592-594 ◽  
pp. 2422-2426
Author(s):  
V. Ramsankar ◽  
V. Vipin ◽  
Ajit Smrithi
Keyword(s):  
Economic Analysis ◽  
Educational Institution ◽  
Energy Requirements ◽  
Solar Photovoltaic ◽  
Final Energy ◽  
Energy Auditing ◽  
Photo Voltaic ◽  
Economic Analyses

This paper presents the undertaken attempt to perform techno –economic analysis of water cooled concentrating photo voltaic (CPV) system vis-à-vis solar photovoltaic (SPV) for an educational institution (BITS Pilani Hyderabad). With the help of preliminary and final energy auditing, the energy requirements for the 2800 hostel rooms of the campus were computed. Required PV & CPV systems’ techno-economic analyses to meet the energy loads were performed and a comparison was made to arrive at the possibility of using CPV systems. Area required for installing both the system was also performed.

scholarly journals Direct Cost Analysis of Patients With Brain Tumors Submitted to Microsurgical Neurosurgical Procedures - An Epidemiological and Economic Analysis in a Large Developing Country

2021 ◽  
Author(s):  
Aline Lariessy Campos Paiva ◽  
João Luiz Vitorino-Araujo ◽  
Renan Maximilian Lovato ◽  
Guilherme Henrique Ferreira da Costa ◽  
José Carlos Esteves Veiga
Keyword(s):  
Brain Tumors ◽  
Economic Analysis ◽  
Operating Room ◽  
Direct Cost ◽  
Neurosurgical Procedures ◽  
Middle Income ◽  
Emergency Procedures ◽  
Hospitalization Period ◽  
Neurosurgical Patients ◽  
Economic Analyses

Abstract Purpose In low- and middle-income countries, there is a lack of data on neurosurgical costs. These data are relevant to help international cooperation, especially for huge trials. This study aims to estimate the direct cost of an adult neurooncological patient during hospital admission in the largest philanthropic hospital in Latin America. Methods This observational economic analysis describes the direct cost of a neurooncological patient at Santa Casa de São Paulo, Brazil. For this analysis, only adult patients with the two more common primary brain tumors were considered. Results Between January 2008 and December 2019 a total of 1279 charts were reviewed. 53.57% were female patients. Most patients had an age range between 56 and 65 years (22.5%). A statistically significant sample of patients with meningiomas and gliomas were analyzed. The estimated mean cost of neurosurgical hospitalization was U$ 4.166. The operating room and ICU costs represented the largest proportion of the total cost (29.24% and 24.95%, respectively). 17.5% of patients had some types of infection and 66.67% them occurred in nonelective procedures. The mortality rate was 12.7% and 92.3% occurred in emergency procedures. Conclusions This study evaluated the cost of oncological neurosurgical patients. The operating room was the most expensive variable, followed by the ICU hospitalization period. Surgery performed in an emergency was more associated with infections and mortality. Findings from this study could be used by stakeholders and policymakers for resource allocation and to perform economic analyses to establish the value of neurosurgery in achieving global health goals.

scholarly journals A Welfare Economic Analysis of Labor Market Policies in the Harris-Todaro Model

2018 ◽  
pp. 343-366 ◽  
Author(s):  
Gary S. Fields
Keyword(s):  
Labor Market ◽  
Economic Analysis ◽  
Job Creation ◽  
Welfare Economic ◽  
Market Model ◽  
Modern Sector ◽  
Labor Earnings ◽  
Labor Market Policies ◽  
Total Labor ◽  
Economic Analyses

This chapter presents a welfare economic analysis of the benefits of various labor market policies in the Harris-Todaro labor market model. The policies considered are a policy of modern sector job creation, called modern sector enlargement (MSENL); a policy of rural development, called traditional sector enrichment (TSENR); and a policy of wage limitation in the urban economy, called modern sector wage restraint (MSWR). First, the inequality effects of these policies are analyzed. Then two welfare economic analyses are performed, the first based on summary measures of labor market conditions (total labor earnings, unemployment, inequality of labor incomes, and poverty rates) and the second based on dominance analysis in the labor market, in both cases assuming that the costs are borne elsewhere. The results of the welfare analyses are compared, and it is shown that TSENR unambiguously increases welfare in the labor market using both approaches, the other policies yield ambiguous results, and no policy is unambiguously welfare-decreasing.

Available and Future Gas Turbine Power Augmentation Technologies: Techno-Economic Analysis in Selected Climatic Conditions

2012 ◽  
Author(s):  
R. K. Bhargava ◽  
L. Branchini ◽  
F. Melino ◽  
A. Peretto
Keyword(s):  
Power Generation ◽  
Economic Analysis ◽  
Electric Power ◽  
Gas Turbine ◽  
Climatic Conditions ◽  
Proper Selection ◽  
Peak Demand ◽  
Economic Analyses ◽  
Widespread Interest ◽  
Selection Of

There exist a widespread interest in the application of gas turbine power augmentation technologies in both electric power generation and mechanical drive markets attributable to deregulation in the power generation sector, increased electric rates during peak demand period, and need for a proper selection of the gas turbine in a given application. In this study detailed thermo-economic analyses of various power augmentation technologies, implemented on a selected gas turbine, have been performed to identify the best techno-economic solution depending on the selected climatic conditions. The presented results show that various power augmentation technologies examined have different payback periods. Such a techno-economic analysis is necessary for proper selection of a power augmentation technology.

Disease Prevention, Health Care, and Economics

2011 ◽  
pp. 554-577 ◽  
Author(s):  
Jane Hall
Keyword(s):  
Public Health ◽  
Health Care ◽  
Economic Analysis ◽  
Policy Development ◽  
Utility Maximization ◽  
Evidence Base ◽  
Prevention Policy ◽  
Prevention Strategies ◽  
Policy Issues ◽  
A Current

This article attempts to take on the policy issues and explores the economic analysis of prevention that can add to policy development. It discusses prevention and draws on the economic concepts of human capital and utility maximization. It provides a framework for investigating the reasons for people making the decisions and their response if their incentives or constraints alter. This approach can yield useful insights into behavior and answer various questions such as the reasons for smoking and the rise in the obesity level. Thus economic analysis can provide a basis for designing prevention strategies. This article addresses the issue of whether there is a current under-investment in prevention. For many policymakers and public health advocates, this question is about whether more prevention will save on care expenditure. Furthermore, the article turns to the special challenges in building an evidence base for prevention policy.

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