An Improved BPNN Algorithm Based on Deep Learning Technology to analyze the Market Risks of A+H Shares

The backpropagation neural network (BPNN) algorithm of artificial intelligence (AI) is utilized to predict A+H shares price for helping investors reduce the risk of stock investment. First, the genetic algorithm (GA) is used to optimize BPNN, and a model that can predict multi-day stock prices is established. Then, the Principal Component Analysis (PCA) algorithm is introduced to improve the GA-BP model, aiming to provide a practical approach for analyzing the market risks of the A+H shares. The experimental results show that for A shares, the model has the best prediction effect on the price of Bank of China (BC), and the average prediction errors of opening price, maximum price, minimum price, as well as closing price are 0.0236, 0.0262, 0.0294 and 0.0339, respectively. For H shares, the model constructed has the best effect on the price prediction of China Merchants Bank (CMB). The average prediction errors of opening price, maximum price, minimum price and closing price are 0.0276, 0.0422, 0.0194 and 0.0619, respectively.

Additive logistic processes in option pricing

In option pricing, it is customary to first specify a stochastic underlying model and then extract valuation equations from it. However, it is possible to reverse this paradigm: starting from an arbitrage-free option valuation formula, one could derive a family of risk-neutral probabilities and a corresponding risk-neutral underlying asset process. In this paper, we start from two simple arbitrage-free valuation equations, inspired by the log-sum-exponential function and an $\ell ^{p}$ ℓ p vector norm. Such expressions lead respectively to logistic and Dagum (or “log-skew-logistic”) risk-neutral distributions for the underlying security price. We proceed to exhibit supporting martingale processes of additive type for underlying securities having as time marginals two such distributions. By construction, these processes produce closed-form valuation equations which are even simpler than those of the Bachelier and Samuelson–Black–Scholes models. Additive logistic processes provide parsimonious and simple option pricing models capturing various important stylised facts at the minimum price of a single market observable input.

Analysis of the variations in price of anti-glaucoma eye preparations available in Indian pharmaceutical market

Background: The aim of the study was to analyze the percentage cost variations among different brands of the commonly prescribed anti–glaucoma drugs.Methods: The maximum and minimum price of each brand of the drug in INR was noted by using CIMS January to April 2018 edition Drug Today April to June 2018 Vol-1. The cost ratio and the percentage cost variation for individual drug brands was calculated. The cost of each eye drop was calculated. At last the cost ratio and percentage cost variation of various brands was compared.Results: Percentage variation in cost for anti-glaucoma eye preparations marketed in india was found to be eye drop timolol maleate (0.5%) of 5 ml:263.63, eye drop dorzolamide (2%) of 5 ml:9.77, eye drop pilocarpine (2%) of 5 ml:160.40, eye drop Betaxolol (0.5%) of 5 ml:56.54, eye drop Latanoprost (50 mcg/ml) of 2.5ml:135.88, eye drop Brimonidine tartarate (0.15%) of 5 ml:183.9, eye drop Levobunolol (5 mg/ml) of 5 ml:32.38.Conclusions: Glaucoma is the most common ocular disease and eye drops are to be prescribed for prolonged period. If a costly brand is prescribed, the patients have to pay more money unnecessarily for their treatment. The clinicians prescribing these drugs should be aware of these variations in cost to reduce the cost of drug therapy.

Concentration of Bid Prices Just Above the Standard Minimum Price in Public Construction Works

In Japan, contract offices are mandated to set threshold prices for public works. A threshold price is the upper limit of the bid price, and a contractor who exceeds this threshold is disqualified. Furthermore, based on the threshold price, a minimum price is set as a price requiring investigation before acceptance. In recent years, bids and contracts for public works have generally had bid prices concentrated slightly above the standard minimum for investigation. It has been pointed out that this tendency is detrimental in terms of the motivation of engineers and social costs. In this study, we confirm that this tendency was alleviated and that the level of the winning bidder's technical evaluation score was feasible at the same time. In addition, we obtained quantitative findings on variables that affect both above. Furthermore, although it is impossible to achieve a perfect balance between alleviating the tendency of prices to concentrate slightly above the standard minimum for investigation and sufficient technical evaluation scores, elements necessary to improve the overall situation were quantitatively identified.

Effectiveness of Auctions in Securing Price Support for Farmers: The Case of a Grain Market in India

This paper reviews rice procurement operations of Government of India from the standpoints of cost of procurement as well as effectiveness in supporting farmers’ incomes. The two channels in use for procuring rice till 2015, were custom milling of rice and levy. In the first, the government bought paddy directly from farmers at the minimum support price (MSP) and got it milled from private millers; while in the second, it purchased rice from private millers at a pre-announced levy price thus providing indirect price support to farmers. Secondary data reveal that levy, despite implying lower cost of procurement was discriminated against till about a decade back and eventually abolished in 2015 in favor of custom milling, better trusted to provide minimum price support. We analyze data from auctions of paddy from a year when levy was still important to investigate its impact on farmers’ revenues. We use semi-nonparametric estimates of millers’ values to simulate farmers’ expected revenues and find these to be rather close to the MSP; a closer analysis shows that bidder competition is critical to this result. Finally, we use our estimates to quantify the impact of change in levy price on farmers’ revenues and use this to discuss ways to revive the levy channel.

Managervergütung, Mindestlohn, Mietpreisbremse

Die Freiheit, den Preis für eine Leistung auszuhandeln, gehört zum Kern der Privatautonomie. Es überrascht daher nicht, dass staatliche Entgeltvorgaben regelmäßig von intensiven politischen und rechtlichen Auseinandersetzungen begleitet werden. Diese Debatten werden jedoch in der Regel sachbereichsbezogen geführt. Entgeltvorschriften werden dabei als Einzelerscheinungen und Fremdkörper in einer marktwirtschaftlichen Ordnung beschrieben. Empirisch trifft diese Einschätzung nicht zu, in normativer Hinsicht greift sie zu kurz. Der Staat nutzt Entgeltregelungen in allen zentralen Wirtschaftsbereichen, insbesondere um die Funktionsfähigkeit eines Marktes zu sichern und um Verbraucher zu schützen. Wir führen diese Vorschriften unter dem Ordnungsbegriff „Vergütungsregelung“ zusammen, analysieren sie vergleichend und beschreiben die Gestaltungsmodelle, die der Gesetzgeber nutzen kann. Die Leistungsfähigkeit dieser Modelle testen wir am Beispiel eines Mindestpreises für Fleisch. The freedom to negotiate the price of goods and services is of central importance in every market economy. Therefore, it is not surprising that the legislator is regularly causing intense debates and is facing accusations of unconstitutionality when restricting this freedom. However, these discussions are often limited to the respective regulatory area. This is one of the reasons why price regulations are widely considered a foreign object in market economies, which is empirically not accurate and falls short in normative terms. The legislator uses price regulations in all important economic areas, especially to tackle market failure and for the purpose of consumer protection. We bring these provisions together under the classification term “price regulations”, analyze them comparatively and describe the models, which can be used by the legislator. We test the potential of these models by the example of a minimum price for meat.

Study of the cost variation analysis of anti-epileptic drugs available in different brands in Indian pharmaceutical market

Background: The aim of this study was to analyze the cost ratio and percentage cost variations in different brands of the commonly prescribed anti-epileptic drugs available in Indian pharmaceutical market.Methods: The maximum and minimum price of each brand of the drug given in Indian rupees (INR) was noted by using CIMS January to April 2020 edition and drug today April to June 2020 volume 1. The cost ratio and the percentage cost variation for individual drug brands was calculated. The cost of one bottle in case of 100 ml syrup and 10 tablets/capsules was calculated in case of oral drugs and the cost of one 1 vial or ampoule was noted in case of injectable drugs. At last the cost ratio and percentage cost variation of various brands was compared.Results: After calculation of cost ratio and percentage cost variation for each brand of anti-epileptic drug tablet clonazepam (2 mg) shows highest cost ratio and percentage cost variation as 10.41 and 941.66, carbamazepine (200 mg SR tablet) shows lowest cost ratio and percentage cost variation as 1.09 and 9.32.Conclusions: Epilepsy is the most common neurological disorder and epileptic drugs are to be prescribed for prolonged period. If a costly brand is prescribed, the patients have to pay more money unnecessarily for their treatment. There is a wide difference in the cost of different brands of anti-epileptic drugs available in India. The clinicians prescribing these drugs should be aware of these variations in cost to reduce the cost of drug therapy.

The impact of early phase price agreements on prices of orphan drugs

Background Innovative orphan drugs often have an incremental cost-effectiveness ratio (ICER) which is higher than the maximum threshold for reimbursement. Payers have limited budgets and often cannot pay the full price of a new product, but pharmaceutical and biotechnology companies require a minimum price to satisfy their investors. The objective of this study was to present a possible solution to bridge this pricing gap by having early phase price agreements, which reduce the risk for investors. Methods We used a Pricing Model, which determines the minimum (break-even) price of an innovative drug from an investor’s perspective. This model is based on economic valuation theory, which uses the expected free cash flows and the required cost of capital. We selected two orphan drugs with a positive clinical assessment and an ICER higsher than the Dutch maximum threshold of €80,000 per QALY gained to use as examples in the model: Spinraza for spinal muscular atrophy and Orkambi for cystic fibrosis. RESULTS: The results show that early pricing agreements before phase III trials can substantially lower the drug price resulting from a lower cost of capital. The minimum price for orphan drugs can be reduced by 27.4%, when cost of capital decreases from 12 to 9%. An additional adjustment of other critical parameters due to early pricing agreements (lower probabilities of phase III failure and lower research and development (R&D) costs) can further reduce the minimal price by 62.8%. Conclusion This study shows that earlier timing of price negotiations resulting in an agreement on drug price can substantially lower the minimal price of orphan drugs for the investor.

Anticipated responses to a hypothetical minimum price for cigarettes and roll-your-own tobacco: an online cross-sectional survey with cigarette smokers and ex-smokers in the UK

ObjectivesAs tobacco companies can circumvent tax increases, a minimum retail price per-cigarette/per-gram of roll-your-own tobacco presents an additional mechanism for governments to reduce smoking. We examined (1) anticipated responses to a hypothetical minimum price-per-cigarette/per-gram among smokers in the UK; (2) what demographic and smoker characteristics are associated with anticipated responses; and (3) whether minimum pricing may help ex-smokers stay quit.DesignCross-sectional survey (May–July 2019).SettingUK.ParticipantsAdult cigarette smokers (n=2412) and ex-smokers (n=700).Main outcome measurementsAnticipated responses to a hypothetical minimum price of £10.00 for 20 cigarettes (£0.50 per-cigarette) and £13.50 for 30 grams of roll-your-own tobacco (£0.45 per-gram); approximately £0.10 per-cigarette/per-gram increases on the cheapest prices in leading UK supermarkets (January 2019). Smokers were presented with ten options (eg, ‘Try to quit’) and asked which they would do (Yes/No) and then which they would most likely do. Ex-smokers were asked to what extent the minimum prices would help them stay quit (A lot vs Lesser agreement).ResultsAmong smokers, 55.6% said they would most likely smoke the same amount, 10.7% they would smoke less, 9.5% they would try to quit and 5.8% they would use e-cigarettes more often. Anticipated reactions were associated with demography and smoker characteristics, for example, C2DE (lower social grade) smokers were less likely than ABC1 (higher social grade) smokers to say they would smoke the same as they do now (ORAdj=0.74, 95% CI 0.62 to 0.88). Among ex-smokers, 38.5% said the minimum prices would help them stay quit ‘A lot’, more so among C2DE than ABC1 participants (ORAdj=1.80, 95% CI 1.30 to 2.49).ConclusionsIn response to a hypothetical minimum price for cigarettes and roll-your-own tobacco, approximately a fifth of smokers in the UK indicated they would smoke less or quit and almost two-fifths of ex-smokers indicated the prices would help them stay quit.