Insurance regulation in Europe: an analysis of effectiveness and efficiency

2021 ◽  
pp. 1-26
Author(s):  
Martin Eling
Keyword(s):  
Cost Benefit ◽  
Unintended Consequences ◽  
Insurance Regulation ◽  
Current Development ◽  
Before And After ◽  
Effectiveness And Efficiency ◽  
The Cost

Recent years have witnessed a great deal of controversy over the amount, intensity and complexity of insurance regulation. The aim of this article is to analyze the current development of insurance regulation in Europe with respect to its effectiveness and efficiency. I first illustrate the increasing amount, cost and complexity of insurance regulation. Then I analyze some unintended consequences of the cost and complexity of regulation and discuss how effective and efficient insurance regulation might look. I finish by discussing three suggestions for policymakers: 1) reduce complexity; 2) increase transparency; and 3) conduct systematic cost-benefit analyses before and after the implementation of regulation.

Unintended Consequences of Nevada’s Ninety-Percent Prevailing Wage Rule

2020 ◽  
Vol 45 (2) ◽  
pp. 166-185 ◽  
Author(s):  
Kevin Duncan ◽  
Jeffrey Waddoups
Keyword(s):  
Public Schools ◽  
Policy Change ◽  
Unintended Consequences ◽  
Wage Policy ◽  
Construction Costs ◽  
Clark County ◽  
Wage Rates ◽  
Prevailing Wage ◽  
Before And After ◽  
The Cost

In 2015, the State of Nevada reduced prevailing wage rates on education-related construction to 90 percent of the applicable rate for other state-funded construction. The examination of projects built for Clark County School District between 2009 and 2108 indicates that Nevada’s wage policy has no statistically significant effect on school construction costs or bid competition, taking into consideration bids placed before and after the 2015 policy change. However, prevailing wage reductions on education projects motivated union contractors to pursue other opportunities as Nevada’s building industry expanded after 2015. Reduced participation in district bidding by union contractors contributed to a 25-percent overall decrease in bid competition and a 20-percent increase in bid costs following the 2015 policy change. While the goal of the 90-percent prevailing wage rule was to reduce the cost of building public schools, unforeseen consequences contributed to decreased bid competition and increased construction costs.

Increasing Steam Turbine Capacity

2004 ◽  
Author(s):  
Deborah H. Cioffi
Keyword(s):  
Steam Turbine ◽  
Power Output ◽  
Cost Benefit ◽  
Flow Capacity ◽  
Before And After ◽  
Stage Properties ◽  
Turbine Capacity ◽  
High Level ◽  
The Cost ◽  
Work Done

Steam turbine owners are often searching for opportunities to increase power output. Increases in steam turbine flow capacity yield a proportional increase in power output, but there is more to increasing capacity than just opening up nozzle areas. This paper describes how Mechanical Dynamics and Analysis personnel increased the flow capacity and power output using original blading on a large, supercritical, reheat unit while maintaining a high level of efficiency. Much attention was given to the as-left stage properties in order to minimize the change in efficiency from the design levels. The work is documented using a timeline which centers on the outage. Much of the engineering work done prior to the outage minimized the time necessary during the outage to complete the modifications. Before and after test results demonstrate the cost-benefit of the capacity increase.

scholarly journals Cost and Benefit Analysis of Contract Farming

2019 ◽  
Vol 8 (1) ◽  
pp. 37-46
Author(s):  
N Harish
Keyword(s):  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Fixed Cost ◽  
Benefit Analysis ◽  
Total Income ◽  
Contract Farming ◽  
Total Cost ◽  
Before And After ◽  
Cost And Benefit Analysis ◽  
The Cost

This article focused on cost-benefit analysis of contract farming. The cost benefit analysis includes total cost, total income and profit before and after contract farming of respondents. Total cost calculated without fixed cost and with fixed cost, profit also calculated with fixed cost and without fixed cost. Contract farming is beneficial to farmers after contract farming. The total cost should be considered without fixed cost.

A Cost-Benefit Analysis of Reducing Surgical Site Infections

2018 ◽  
Vol 84 (2) ◽  
pp. 254-261
Author(s):  
Alexander Rosemurgy ◽  
Jacqueline Whitaker ◽  
Kenneth Luberice ◽  
Christian Rodriguez ◽  
Darrell Downs ◽  
...  
Keyword(s):  
Cost Benefit Analysis ◽  
Cost Savings ◽  
Cost Benefit ◽  
Surgical Site Infections ◽  
Potential Cost ◽  
Pancreatic Resections ◽  
Before And After ◽  
Abdominal Operations ◽  
The Cost ◽  
The Impact

Surgical Site Infections (SSI) represent an onerous burden on our health-care system. This study was undertaken to determine the impact of a protocol aimed at reducing SSIs on the frequency and cost of SSIs after abdominal surgery. Beginning in 2013, 811 patients undergoing gastrointestinal operations were prospectively followed. In 2014, we initiated a protocol to reduce SSIs. SSIs were monitored before and after protocol implementation, and differences in SSI incidence and associated costs were determined. Before protocol initiation, standardized operative preparation cost was $40.85 to $126.94 per patient depending on the results of methicillin-resistant Staphylococcus aureus screen; after protocol initiation, the cost was $43.85 per patient, saving up to $83.09 per patient. With the protocol in place, SSI rate was reduced from 4.9 to 3.4 per cent (13 of 379) representing a potential prevention of eight infections that would have cost payers $166,280 ($20,785 per infection). Notably, the SSI rate after pancreatectomy was reduced by 63 per cent ( P = 0.04). With preparation and diligence, SSI rate can be meaningfully reduced and potential cost savings can be achieved. In particular, SSI rate reduction for major abdominal operations and especially pancreatic resections can be achieved. A protocol to reduce SSI is a “win-win” for all stakeholders and should be encouraged with thoughtful and active participation from all hospital disciplines.

A Comparative Analysis of the Costs and Benefits of Outsourcing Vs. Insourcing Cleaning Services in a Rural Hospital in Uganda

2018 ◽  
Vol 06 (1) ◽  
pp. 9-20 ◽  
Author(s):  
Paschal N Mujasi ◽  
Zerish Z Nkosi
Keyword(s):  
Service Quality ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Quality Data ◽  
Total Cost ◽  
Before And After ◽  
Quality Rating ◽  
One Year ◽  
The Cost ◽  
The Impact

Background:This study estimates the net cost benefit of outsourcing cleaning services in a hospital in Uganda. The aim is to demonstrate an approach that can be applied by hospital managers using readily available data to conduct a cost benefit analysis as part of pre-sourcing evaluation.Methods:A before and after design was used to analyze, from the hospital manager’s perspective, the impact of outsourcing cleaning services on the hospital’s costs. Cost and service quality data was collected for the pre- and post- outsourcing period. Net costs of outsourcing were determined using a total cost pre- and post-out-sourcing approach. Benefits were monetized by comparing the costs of outsourcing with the theoretical in-sourcing costs that would be required to achieve the same quality as outsourced cleaning services. The theoretical in-sourcing costs were estimated by weighting the actual insourcing costs by a quality factor based on the hospital manager’s rating of service quality pre- and post-outsourcing. The outcome measures were the net total cost and cost per square meter cleaned for a one-year period.Results:Before adjusting for quality, outsourcing cleaning services were more costly than insourcing, with an annual cost of UGX 644.35 ($ 0.25) and UGX 568.07 ($ 0.22) per square meter cleaned, respectively. After adjusting for quality, outsourcing is cost-beneficial, providing a cost saving of UGX 372.20 ($ 0.14) per square meter cleaned. Sensitivity analysis indicates that cost of the outsourcing contract and manager’s quality rating of outsourced services have the greatest impact on value for money from outsourcing. An annual contract cost above UGX 1000 ($ 0.38) per square meter cleaned makes outsourcing less beneficial, keeping all other factors constant. An average quality rating below 5 for the outsourced service makes outsourcing less beneficial cost wise.Conclusion:Outsourcing resulted in additional hospital expenditure compared to in-sourcing, but also resulted in better quality service. Adjusting for quality makes outsourcing more cost beneficial. The magnitude of the cost benefit is sensitive to the contract value and the managers’ quality rating of the outsourced services.

Hostile Takeovers and Anti-takeover Defenses in the Russian Corporate Market

2007 ◽  
pp. 70-84 ◽  
Author(s):  
E. Demidova
Keyword(s):  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Benefit Analysis ◽  
Costs And Benefits ◽  
Hostile Takeovers ◽  
Russian Market ◽  
Takeover Defenses ◽  
The Cost ◽  
European Markets

This article analyzes definitions and the role of hostile takeovers at the Russian and European markets for corporate control. It develops the methodology of assessing the efficiency of anti-takeover defenses adapted to the conditions of the Russian market. The paper uses the cost-benefit analysis, where the costs and benefits of the pre-bid and post-bid defenses are compared.

The Evolutionary Psychology of Scientific Publishing: Cost-Benefit Optimization of Players in the Game

2019 ◽  
Author(s):  
Milind Watve
Keyword(s):  
Peer Review ◽  
Current System ◽  
Critical Mass ◽  
Cost Benefit ◽  
Active Role ◽  
Scientific Publishing ◽  
Collective Goal ◽  
The Cost ◽  
Collective Goals ◽  
Innate Tendency

Peer reviewed scientific publishing is critical for communicating important findings, interpretations and theories in any branch of science. While the value of peer review is rarely doubted, much concern is being raised about the possible biases in the process. I argue here that most of the biases originate in the evolved innate tendency of every player to optimize one’s own cost benefits. Different players in the scientific publishing game have different cost-benefit optima. There are multiple conflicts between individual optima and collective goals. An analysis of the cost-benefit optima of every player in the scientific publishing game shows how and why biases originate. In the current system of publishing, by optimization considerations, the probability of publishing a ‘bad’ manuscript is relatively small but the probability of rejecting a ‘good’ manuscript is very high. By continuing with the current publishing structure, the global distribution of the scientific community would be increasingly clustered. Publication biases by gender, ethnicity, reputation, conformation and conformity will be increasingly common and revolutionary concepts increasingly difficult to publish. Ultimately, I explore the possibility of designing a peer review publishing system in which the conflicts between individual optimization and collective goal can be minimized. In such a system, if everyone behaves with maximum selfishness, biases would be minimized and the progress towards the collective goal would be faster and smoother. Changing towards such a system might prove difficult unless a critical mass of authors take an active role to revolutionize scientific publishing.

What's it Worth? Improving Surface Water Quality

1999 ◽  
Vol 40 (10) ◽  
pp. 153-159 ◽  
Author(s):  
D. H. Newsome ◽  
C. D. Stephen
Keyword(s):  
Water Quality ◽  
Surface Water ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Surface Water Quality ◽  
Control Measures ◽  
Benefit Analysis ◽  
The Cost

Many countries are investing in measures to improve surface water quality, but the investment programmes for so doing are increasingly becoming subject to cost-benefit analysis. Whilst the cost of control measures can usually be determined for individual improvement schemes, there are currently no established procedures for valuing the benefits attributable to improved surface water quality. The paper describes a methodology that has been derived that now makes this possible.

Sign in / Sign up

Export Citation Format

Share Document