marginal analysis
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2021 ◽  
pp. 238008442110562
Author(s):  
C.R. Vernazza ◽  
K. Carr ◽  
R.D. Holmes ◽  
J. Wildman ◽  
J. Gray ◽  
...  

Introduction: In any health system, choices must be made about the allocation of resources (budget), which are often scarce. Economics has defined frameworks to aid resource allocation, and program budgeting marginal analysis (PBMA) is one such framework. In principle, patient and public values can be incorporated into these frameworks, using techniques such as willingness to pay (WTP). However, this has not been done before, and few formal resource allocation processes have been undertaken in dentistry. This study aimed to undertake a PBMA with embedded WTP values in a national dental setting. Methods: The PBMA process was undertaken by a panel of participant-researchers representing commissioners, dentists, dental public health staff, and academics. The panel reviewed current allocations and generated a set of weighted criteria to evaluate services against. Services to be considered for removal and investment were determined by the panel and wider discussion and then scored against the criteria. Values from a nationally representative WTP survey of the public contributed to the scores for interventions. Final decisions on removal and investment were taken after panel discussion using individual anonymous electronic voting. Results: The PBMA process resulted in recommendations to invest in new program components to improve access to general dentists, care home dentistry, and extra support for dental public health input into local government decisions. Disinvestments were recommended in orthodontics and to remove routine scaling and polishing of teeth. Discussion: The PBMA process was successful in raising awareness of resource allocation issues. Implementation of findings will depend on the ability of decision makers to find ways of operationalizing the decisions. The process illustrates practical aspects of the process that future dental PBMAs could learn from. Knowledge Transfer Statement: This study illustrates a framework for resource allocation in dental health services and will aid decision makers in implementing their own resource allocation systems.


2021 ◽  
Vol 14 (2) ◽  
pp. 231-237
Author(s):  
A. N. Sunteev

Due to tough competition and economic sanctions domestic mechanical engineering enterprises are in a permanent search of sources of increasing their performance efficiency. One of such sources is the internal potential of a company. Engineering enterprises possess a large stock of internal reserves and their exploitation provides the businesses with competitive advantages in the global market. Internal reserves are the source of a company’s investment. Reduction of production costs at the expense of internal reserves is an important direction of increasing an engineering company’s performance efficiency. Currently, there are no universal methodical tools to manage internal reserves of reducing production costs at the mechanical engineering enterprises. The study is aimed at describing the process of management of internal reserves of reducing production costs which is applied at one of engineering plants. The author outlines the experience of an mechanical engineering company on managing internal reserves of reducing production costs. It is based on the marginal analysis method which makes it possible to find a product with high margin profitability. The author adduces the sequence of all stages of the management process and the calculations on certain types of products, and reveals reserves for reducing production costs according to the directions of search for them. The experience presented in the article will be a good example for the other engineering enterprises and will provide them with the opportunity to reduce production costs and increase their performance efficiency avoiding any borrowed funds.


2021 ◽  
pp. 001946622110172
Author(s):  
Christian Gehrke

The study discusses Krishna Bharadwaj’s elaboration of the Sraffian critique of the currently dominating supply-and-demand equilibrium theories that are based on the marginalist approach by making use of documents from the Sraffa archive. Starting from Krishna Bharadwaj’s astute observation that the law of diminishing returns ‘was the thin end of the wedge by which the marginal analysis was introduced and generalised’ the study is concerned with Sraffa’s critique of the marginalist treatment of intensive diminishing returns and his return to a pre-marginalist and non-mechanical analysis of the intensification of land use. In the opening part of the article, the development of the friendship and collaboration between Piero Sraffa and Krishna Bharadwaj is briefly recalled, based on information provided in the correspondence files and diary entries in Sraffa’s papers. JEL Code: B24, B31, B51


2021 ◽  
pp. 46-50
Author(s):  
Thomas Jere

Margin analysis is a very powerful tool for modelling how individual producers and consumers make decisions. The basic idea is that decision makers make choices based on the comparative costs and benefits associated with small changes in a given state of the world. If the marginal benefits of a small change outweigh the marginal costs of that change, the decision maker makes that small change and then re-analyses for the next potential additional change. Margin analysis is an important component in modelling how producers make decisions to maximize profits and how consumers make decisions to maximize utility. The purpose of this study is to evaluate the different aspects of marginal analysis and how it may be applied in management accounting, therefore it encompasses a lot of aspects from how to evaluate actual opportunity costs to profit maximization and how these aspects can be applied in decision making, consequently this research will try to determine and infer whether the concept can be reliably applied in real life scenarios and be able to produce reliable results which can benefit firms to reduce costs and maximize their profits.


2021 ◽  
Vol 5 (2) ◽  
pp. 60-68
Author(s):  
Bilkisu Maijamaa

Program budget marginal-analysis is a framework used by decision makers to allocate and reallocate resources with maximized benefit or specified goals. Evidently most application of PBMA as employed in most studies have focused mainly within the health organization. To implement the PBMA for optimizing budget allocation problems it involves seven stages. This research will look at applying the PBMA in other organizations that are strategically based for budget allocations. To implement on other organizations, some adjustment on the existing PBMA need to be made. This was achieved through introduction of suitable quantitative approach instead of using the traditional qualitative approach to calculate the marginal cost for the activities/strategies. By introducing and implementation of a suitable mathematical programming model for the final budget allocation process. The adjusted PBMA has proven to be a flexible and workable framework that can be used in other organization not just the health sector where it originated. Hence it is recommended to be used by other organizations for optimal budget allocations


2021 ◽  
Vol 34 (01) ◽  
pp. 457-468
Author(s):  
Mikhail Samuilovich Gasparian ◽  
Irina Anatolievna Kiseleva ◽  
Valery Aleksandrovich Titov ◽  
Natalia Alekseevna Sadovnikova

The paper explores the topical subject of modeling enterprise operations with the use of marginal analysis. The market economy is characterised by the heightened instability of the complex socioeconomic system, which is almost impossible to fully grasp and study. Businesses face intense competition. Adequate managerial decision-making requires in-depth comprehensive assessments of the situation and reliable forecasting. A firm that makes correct forecasts gains additional profit compared to one abstaining from forecasting. Meanwhile, a firm making an incorrect forecast loses most of all. Managerial decisions often rely on break-even analysis, i. e., marginal analysis. This paper explores examples where even in cases when disadvantageous choices are made (as shown by break-even analysis), the setting can still lead to positive results, i. e., at least a moderate profit, through the validation of the managerial decision by further analysis and calculations. The methods of enquiry, retrospective and document analysis, as well as synthesis, generalisation and systematisation were used.


Author(s):  
Pavel Baboshkin ◽  
Natalia Yegina ◽  
Elena Zemskova ◽  
Diana Stepanova ◽  
Serhat Yuksel

This article aims to highlight various methods and approaches to grouping countries, according to the behavior of their open innovation indicators. GDP, inflation and unemployment are the most important indicators of the economic and social policies of states, allowing them to be evaluated and models built. To find the relationships between open innovation indicators the paper uses marginal analysis and feature reduction, as well as machine learning methods (shift to the mean, agglomerative clustering and random forest methods). The results showed that, after isolating all groups, the importance of the signs was established and the patterns of behavior of indicators for each group were compared and open innovation dynamics was analyzed. The conclusions showed that it is obvious that increasing the number of variables in the model and using more extensive indicators can greatly increase the accuracy, in contrast to the generally accepted simple classifications. This approach makes it possible to more accurately find the connections between sectors of the economy or between state economies in general. An accompanying result of the study was the clarification of the equality of open innovation indicators for the analysis of their interrelationships between countries.


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