CONSUMER SURPLUS OF THE QUADRATIC DEMAND FUNCTION AND PRODUCER SURPLUS OF THE QUADRATIC SUPPLY FUNCTION BY FUZZIFYING POLYGONAL FUZZY NUMBERS AND DEFUZZIFYING GRADED MEAN

2019 ◽  
Author(s):  
Ismail Ozcan
Keyword(s):  
Demand Function ◽  
Fuzzy Numbers ◽  
Consumer Surplus ◽  
Supply Function ◽  
Producer Surplus ◽  
Polygonal Fuzzy Numbers

scholarly journals Effects of Serbian accession to the European Union

2012 ◽  
Vol 59 (3) ◽  
pp. 355-367 ◽  
Author(s):  
Mario Holzner ◽  
Valentina Ivanic
Keyword(s):  
Trade Liberalization ◽  
Consumer Surplus ◽  
The European Union ◽  
Policy Changes ◽  
Eu Accession ◽  
Consumer Prices ◽  
The World ◽  
Producer Surplus ◽  
The One ◽  
The Eu

In this article, the global simulation model (GSIM) of Joseph F. Francois and Keith H. Hall (2009) for analyzing global, regional, and unilateral trade policy changes was applied to Serbia. This was to measure the effects of full trade liberalization with the EU after Serbian accession to the EU. As anticipated, most of the changes in welfare after full liberalization of trade between Serbia and EU can be expected in sectors where Serbia has specialized; protection against imports from the EU is strong. However, losses could also occur in sectors that currently face strong protection against the rest of the world and this protection is lost after EU accession. Trade liberalization will lead to a substantial loss of tariff revenues. Reduced consumer prices might, on the one hand increase consumer surplus but on the other hand decrease producer surplus and output in certain industries.

The Sustainable Forestry Initiative’s impact on stumpage markets in the US South

2005 ◽  
Vol 35 (8) ◽  
pp. 2056-2064 ◽  
Author(s):  
Roger Brown ◽  
Daowei Zhang
Keyword(s):  
Consumer Surplus ◽  
Sustainable Forestry ◽  
Consumer Welfare ◽  
Us South ◽  
Equilibrium Displacement Model ◽  
Equilibrium Displacement ◽  
The Us ◽  
Producer Surplus ◽  
Nonindustrial Private Forest ◽  
Displacement Model

Using survey data and an equilibrium displacement model, we estimate the market and economic impacts of the American Forest and Paper Association's Sustainable Forestry Initiative (SFI) on stumpage markets in the US South. We examine four timber product markets: softwood pulpwood, softwood sawtimber, hardwood pulpwood, and hardwood sawtimber. In each market we calculate changes in producer and consumer welfare using the equilibrium displacement model that accounts for reductions in timber inventories caused by SFI compliance. We find that SFI compliance costs the US South's economy about $36 million annually. SFI-compliant stumpage producers lose more than $33 million each year in producer surplus as a result of SFI compliance, and consumers lose about $12 million annually in consumer surplus due to higher product prices. These costs are offset partially by benefits to nonindustrial private forest producers, non-SFI-compliant industry producers, and public forest producers, who collectively gain about $10 million in producer surplus annually as a result of higher stumpage prices.

PP170 Quantifying the Life-Cycle Value of Second Generation Antipsychotics

2019 ◽  
Vol 35 (S1) ◽  
pp. 69-69
Author(s):  
Mikel Berdud ◽  
Niklas Wallin-Bernhardsson ◽  
Bernarda Zamora ◽  
Peter Lindgren ◽  
Adrian Towse
Keyword(s):  
Life Cycle ◽  
Cost Effectiveness ◽  
Consumer Surplus ◽  
Value Added ◽  
Dynamic Nature ◽  
Patent Expiration ◽  
Total Surplus ◽  
Long Run ◽  
Second Generation Antipsychotics ◽  
Producer Surplus

IntroductionWe estimate the life-cycle value of risperidone – Second-Generation Antipsychotics (SGA) – to balance the view that cost per Quality-Adjusted Life Year (QALY) estimates at launch are enough to guide access decisions. Study results will also drive discussion on access and price to recognize the dynamic nature of pharmaceutical pricing over the long-run.MethodsWe estimated number of patients treated for schizophrenia with risperidone in Sweden and the United Kingdom (UK) between 1994-2017 based on usage data form national statistics and volume sales data from IQVIA. We collected data from literature on the effectiveness (QALYs) and costs (EUR 2017) of risperidone (SGA) and haloperidol – First-Generation antipsychotic (FGA). We estimate the life-cycle value added by risperidone versus haloperidol, and the life-cycle distribution of the social surplus between the payer (consumer surplus) and the innovator (producer surplus).ResultsWe estimated the consumer surplus, the producer surplus, the Net Monetary Benefit (NMB) and Incremental Cost-Effectiveness Ratio (ICER) at each year and in aggregate terms (1993-2017). For the UK the producer surplus was ~28 percent out of the total surplus before patent expiration and five percent after patent expiration. In Sweden, producer surplus was around 6 percent out of the total surplus before patent expiration and one percent thereafter. In both countries, during the life-cycle of risperidone, the NMB per patient increased and the ICER decreased as a response to: (i) the launch of Risperidone Long-Acting Injectable (RLAI); and (ii) the generic entry.ConclusionsThe value added by risperidone increased during the life-cycle due to the launch of RLAI and the generic competition. This suggests that, considering the entire life-cycle, the value added by SGAs to the system is higher than the expected value estimated using cost-effectiveness analysis at launch. Pricing and reimbursement decisions should take into account the dynamic nature of pharmaceutical markets and the value added by innovative medicines over the long-run.

Are capital inflows in the CR inflationary?

1996 ◽  
Vol 5 (1) ◽  
Author(s):  
Tomáš Dvořák
Keyword(s):  
Czech Republic ◽  
Money Supply ◽  
Money Demand ◽  
Empirical Investigation ◽  
Demand Function ◽  
Supply And Demand ◽  
Capital Inflows ◽  
Supply Function ◽  
The Czech Republic ◽  
Net Foreign Assets

It is evident that the volume of capital inflows in the Czech Republic has had seriously monetary consequences. As shown in the section 2 net foreign assets accounted for most of the growth in the money supply in the Czech Republic during 1993 and 1994. Inflationary effects of capital inflows depend on whether capital inflows are driven by the money demand or by the money supply. The inflows driven by a rightward shift in the money demand function are not likely to result in inflation, while a shift in the money, supply function, caused perhaps by institutional change and greater availability of foreign funds, is likely to put pressure on prices. Empirical investigation of the supply and demand effects attempted to confirm the existence of the supply of money supply function in the Czech Republic. The application of appropriate econometric analysis in the turbulent period of 1992 - 1994 was somewhat problematic.

scholarly journals Welfare Impacts of the Mexico Potato Quarantine

2009 ◽  
Vol 41 (3) ◽  
pp. 761-776 ◽  
Author(s):  
Timothy J. Richards ◽  
Ignacio Molina ◽  
Osman Hussein
Keyword(s):  
Free Trade Agreement ◽  
Consumer Surplus ◽  
Trade Agreement ◽  
Welfare Cost ◽  
Trade Restrictions ◽  
Welfare Impacts ◽  
The North ◽  
Producer Surplus ◽  
Mexican Government ◽  
Border Areas

Under the North American Free Trade Agreement (NAFTA) tariffs on U.S. potato imports to Mexico were phased out by 1993. Citing phytosanitary issues, in 1996, the Mexican government placed quantitative restrictions on U.S. potato imports and restricted their import only to designated border areas. This article estimates the welfare cost of restricting U.S. potato imports into Mexico. We find that removing trade restrictions may lead to over 1.8 million tons of new imports into Mexico, a gain of consumer surplus of 4.0 billion pesos per year, and a loss of 2.9 billion pesos of producer surplus.

Decision making method for evaluating logistics companies based on the ordered representation of the polygonal fuzziness1

2020 ◽  
Vol 39 (3) ◽  
pp. 3151-3166
Author(s):  
Xiaoping Li ◽  
Yujie Tao ◽  
Yanhong Li
Keyword(s):  
Decision Making ◽  
Euclidean Distance ◽  
Fuzzy Numbers ◽  
Decision Matrix ◽  
Arithmetic Average ◽  
Weighted Arithmetic ◽  
Relative Closeness ◽  
Negative Ideal Solution ◽  
Arbitrary Precision ◽  
Polygonal Fuzzy Numbers

A polygonal fuzzy numbers can describe fuzzy information by means of finite ordered real numbers. It not only overcomes the complexity of traditional fuzzy number operations, but also keeps some good properties of trapezoidal fuzzy numbers, and it can approximate general fuzzy numbers with arbitrary precision. In this paper, a weighted arithmetic average operator is defined by the ordered representation and its operations of the polygonal fuzzy numbers, and a new Euclidean distance for measuring the polygonal fuzzy numbers is given. Secondly, in view of cost attribute and benefit attributes, the polygonal fuzzy decision matrix is normalized, and the weighted Euclidean distance is used to solve the positive (negative) ideal solution and the relative closeness of the decision matrix, and then a new decision method is given. Finally, the effectiveness of the proposed decision-making method is illustrated by an example of the evaluation of logistics companies by shopping websites.

Equilibrium pollution and economic development in China

2003 ◽  
Vol 8 (3) ◽  
pp. 451-466 ◽  
Author(s):  
Hua Wang ◽  
David Wheeler
Keyword(s):  
Economic Development ◽  
Industrial Pollution ◽  
Demand Function ◽  
Host Community ◽  
Supply Function ◽  
Industrial Emissions ◽  
Demand And Supply ◽  
Supply Functions ◽  
Chinese Industry ◽  
Environmental Demand

This paper develops and estimates a structural equilibrium pollution model, in which the price and quantity of industrial pollution are jointly determined by the intersection of environmental demand and supply functions. The industrial environmental demand function relates industrial pollution intensity to the local price of pollution, while controlling for characteristics such as sector, scale, and ownership. The local environmental supply function specifies the pollution price imposed by the host community as pollution rises. The model provides a good fit to available data on provincial variations in China's pollution levy, or industrial emissions charge. Our results also suggest that Chinese industry has reduced emissions significantly in response to the levy.

scholarly journals Welfare Effect of Adaptation Policy for Rice Price Variation under Climate Change in Bangladesh

2021 ◽  
pp. 26-40
Author(s):  
M. A. Salam ◽  
Jun Furuya ◽  
Shintaro Kobayashi
Keyword(s):  
Social Welfare ◽  
Consumer Surplus ◽  
Price Policy ◽  
Welfare Effect ◽  
Adaptation Policy ◽  
Price Variation ◽  
Total Surplus ◽  
Rice Price ◽  
Producer Surplus ◽  
Support Price

This study was designed to evaluate the welfare effect of the climate adaptation policy for rice price variation in terms of producer surplus, consumer surplus, and net change in social welfare in Bangladesh, using the partial equilibrium model of the adaptation policy. The long-term trend of climate and policy adaptation for climate impact on price variation of the rice in Bangladesh is taken into economic model approach. The base period of this research is 1977-2009 and the extrapolation period is 2010-2030. To execute the designed analysis, the time series data from national and international organization are used. The results for the support price policy show that the total surplus that producers receive is equivalent to USD 1,164 million, substantially higher than the consumer surplus (USD 763 million) during the period 2010–2030. The net change in the social welfare owing to the support price policy is equivalent to –1483 million (USD) during the period 2010–2030. Moreover, analysis of the subsidized price policy shows that the total surplus that consumers receive (USD 1,958 million) is relatively higher than the producer surplus (USD 1,738 million) in the same period. The net change in social welfare owing to the subsidized price policy (–197 million USD) is much higher than that owing to price support –1483 million (USD). Implementing the dual price policy would result in a much higher net change in the society’s welfare (–1185 million USD) compared to that possible through each policy separately. In conclusion, these adaptation and price stabilization policies are recognized to be more useful in mitigating the severe price rise and fall in the future food market, in favour of both producers and consumers. Even though the change in net social welfare is higher, the higher cost of policy budget is imperative to make stable food supply and security.

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