Does The Betting Industry Price Gender? Evidence from Professional Tennis

This research addresses the importance of gender in the pricing process of the sports betting industry. Specifically, we investigate the impact of gender in the prices that bookmakers offer for tennis matches. Despite widespread evidence of gender bias both in the practice of the sport and its media coverage, tennis is one of the sports that has done most to achieve equality. The analysis of 51,881 tennis matches reveals that betting firms quote higher prices for women's matches than for men's, even when considering uncertainty due to the surprise factor and the media attention. The separate analysis of two bookmakers strengthens the evidence for the role of media attention as a source of gender-related information asymmetry.

The influence of international offshore jurisdictions on the pricing strategy

The article analyzes the causes of offshore jurisdictions and identifies the effects of offshore on national economies. An analysis of the implementation of export-import operations carried out by offshore companies in order to influence the pricing process. The pricing mechanism with affiliates within offshore jurisdictions was presented. It was substantiated the role of offshore banks in the implementation of the pricing mechanism. It was presented the pricing mechanisms within offshore jurisdictions. It has been made an analysis of the impact of transfer pricing within offshore jurisdictions. It was substantiated the economic mechanism of pricing. The international experience of regulation of offshore jurisdictions and the system of controlling the operations of affiliates was analyzed. It was substantiated the mechanisms of functioning of offshore zones and companies operating in offshore jurisdictions. The relationship between agreements concluded within offshore jurisdictions in the following areas is established and substantiated: the agreement is concluded between two independent companies in case of underpricing; the agreement is concluded between the companies connected with the capital relations (affiliated companies) at understatement of the price; agreements between two independent companies in case of overpricing; agreements between affiliated companies in case of overpricing. It was justified the use of the transfer pricing mechanism within offshore jurisdictions. Transfer prices allow you to withdraw capital from the country, as well as hide the profits of companies from taxation. The following ways of minimizing taxation are systematized: registration of a company that concentrates profits in a jurisdiction with lower taxation; concentration of profits in companies that are unprofitable according to management accounting; the use of front companies as sales companies in which profits are concentrated; non-payment of taxes as a result of illegal liquidation of the enterprise - the taxpayer, where the profit is concentrated. The basis of tax minimization is the use in the transaction of a price that deviates from the market.

Pricing insurance policies with offsetting relationship

This paper investigates the benefits of incorporating diversification effects into the pricing process of insurance policies from two different business lines. The paper shows that, for the same risk reduction, insurers pricing policies jointly can have a competitive advantage over those pricing them separately. However, the choice of competitiveness constrains the underwriting flexibility of joint pricers. The paper goes a step further by modelling explicitly the relationship between premiums and the number of customers in each line. Using the total collected premiums as a criterion to compare the competing strategies, the paper provides conditions for the optimal pricing decision based on policyholders’ sensitivity to price discounts. The results are illustrated for a portfolio of annuities and assurances. Further, using non-life data from the Brazilian insurance market, an empirical exploration shows that most pairs satisfy the condition for being priced jointly, even when pairwise correlations are high.

Scalar Multivariate Risk Measures with a Single Eligible Asset

In this paper, we present results on scalar risk measures in markets with transaction costs. Such risk measures are defined as the minimal capital requirements in the cash asset. First, some results are provided on the dual representation of such risk measures, with particular emphasis given on the space of dual variables as (equivalent) martingale measures and prices consistent with the market model. Then, these dual representations are used to obtain the main results of this paper on time consistency for scalar risk measures in markets with frictions. It is well known from the superhedging risk measure in markets with transaction costs that the usual scalar concept of time consistency is too strong and not satisfied. We will show that a weaker notion of time consistency can be defined, which corresponds to the usual scalar time consistency but under any fixed consistent pricing process. We will prove the equivalence of this weaker notion of time consistency and a certain type of backward recursion with respect to the underlying risk measure with a fixed consistent pricing process. Several examples are given, with special emphasis on the superhedging risk measure.

Stosowanie algorytmów cenowych jako wyzwanie dla współczesnego prawa antymonopolowego

In the following paper, the author elaborates on the challenges that today’s competition law has to face with regard to the more and more common use of algorithmic technics by the entrepreneurs, particularly in the field of pricing process. After providing a brief definition of the most fundamental terms, a structural analysis is performed of anticompetitive practices that are facilitated by algorithms. Instances investigated by the author have been assigned into three groups, distinguished according to relations between the entities taking part in a particular practice. The described models are of various complexity and pose different threats to the state of competition. The author made an attempt to draw the line between the cases which fall under the scope of currently enforceable competition law provisions and those to which competition agencies do not apply appropriate tools. In the next part of the paper, the author presents a case study of the so called lex Uber – an Act of the Polish Parliament intended to regulate the passenger transport market in Poland in the light of the rise of modern transportation services, e.g. provided by Uber or Bolt. In the author’s opinion, the enacted provisions may result in inconsistencies with competition law. In the last part of the paper the author suggests possible legal solutions that should safeguard competition on the markets where using algorithmic solutions is still more and more common.

FEATURES OF PRICING FOR TRANSPORTATION SERVICES BASED ON MARKETING APPROACH

The article examines the features of pricing in the transport market, which is one of the key factors of the market economy; the process of establishing the optimal price for transport services is considered – the only element of traditional marketing, the value of which depends on the economic state and competition in the market and ensures the real income of the enterprise. The problems of modern pricing have been updated; identified the most important external factors that should be considered by transport companies in the pricing process. The analysis showed that despite the ordered and structured classification of pricing methods, there are no systematic methodological approaches that would allow them to adapt to real market conditions. Each of the methods presented in the scientific and methodological literature has a significant drawback – the ability to solve only a particular, separate and narrowly focused problem. Thus, the development of a pricing mechanism that will allow continuous and comprehensive control of this process, taking into account any changes in the current market, is relevant and in demand in the production practice of transport enterprises. New approaches to the pricing of transport services using marketing tools are considered. Taking into account the factors affecting the pricing, a mechanism was proposed for determining the optimal price of a transport company for the services provided, consisting of five consecutive stages and assuming a continuous, regular pricing process aimed at increasing the stability of the company in the market, the formation of its positive dynamics and profit growth. The examples of the step-by-step calculation of the indicators of the company's price attractiveness and the services provided for the formation of optimal prices in the transport market are given. This pricing mechanism develops the methodological foundations of the analysis of the financial and economic activities of a transport company and expands the toolkit for its pricing in market conditions.

Analysis of long-term trends of world prices for agricultural products

The issues related to the long-term pricing process in the world market of agricultural products are discussed in the paper. It is noted that international trade of agro-industrial products, namely the fishery commodities, is one of the key components of the global economy. A detailed analysis of export prices for agricultural products was carried out along with the current trend identification. It is noted that a qualitative analysis of long-term trends of changes of world prices for agricultural products, namely fishery products, can serve as a basis for strategic forecasting of development of the most important sectors of the Russian economy.

Applications of Managerial Economics in Business Pricing Strategies

Pricing Strategies are crucial determinants of business success in terms of sales revenue and profitability. This article introduces some key concepts in managerial economics such as price bundling that have significant applications in sophisticated business pricing. The concepts are illustrated separately through detailed theory explanation with graphical analysis, and a real-life business case is briefly discussed for each of these concepts to demonstrate the practical applications of the theoretical ideas. It can be concluded that although some limitations have to be taken into account, these ideas still provide essential insights into the pricing process and can effectively improve firms’ profit conditions.

On the issue of pricing works of art in the process of historical development of artistic practices

In modern art practice, the issue of formation of symbolic and economic value of works of art remains acute and relevant. In the history of art art historians, curators, and art critics used to determine symbolic value. The issue of formation of economic value of works of art is still debatable. The task of the study is to identify features of the pricing of works of art inherent in individual periods of the development of artistic practices in a historical context. The authors address the issue retrospectively, considering the relationships between art and market, originated in the 18th century in Holland. The paper conducts a detailed analyze of the epistolary heritage of P. M. Tretiakov, concluding that in the 19th century it was the professional environment that acted as a regulator of the pricing of works of art. Economic conditions of the 20th century in the domestic art put to the forefront state insurance or state order, therefore the volume of payment of works depended on regalia and social status of an artist. The situation of the beginning of the 21st century brought not only new forms and mechanisms to the art market as Internet trading, corporate collecting, art banking, but also new problems that influenced the pricing process.