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.

Leadership Sentiment and Price Fluctuations

The relationship between prices and leadership mood was examined using the example of crude oil prices and the sentiment of the CEOs of 5 leading oil production companies between 2014 and 2019. The crude oil market was chosen due to recent price fluctuations and upcoming challenges, and for its significant for the global economy. This study uses an empirical approach based on a mood analysis of the CEO's natural language. 160 speech transcripts were analyzed using a leading aspect-based sentiment analysis machine learning algorithm to obtain sentiment data. The relation between sentiment and oil price was tested using linear regression. The results of this study show in detail that the sentiment correlates positively in times of low prices and negatively in times of high prices. The average threshold price calculated using this method was 63 USD per barrel of West Texas Intermediate (WTI) crude oil in the observed period. This corresponds to analysts who estimated the ideal oil price for 2018 at USD 60 to 70. Finally, the restrictions and prospects are discussed. Findings of this study could aid investors decision making and advance the use of sentiment analysis in economic sciences.

Analysis of Competitiveness and Threshold Price Transmission of Indonesian Coffee in Importing Countries

Coffee is a leading commodity export in Indonesia and contributes greatly to the national coffee exports. Indonesia is the world's fourth largest exporter. The objectives of this study are investigating business competitiveness of Indonesian coffee compared to the other of coffee exporting countries and threshold price transmission in importing countries uses Constant Market Share Analysis (CMSA) and ECM models , and threshold cointegration . The results concluded that the most influencing business competitiveness was the effect of market distribution, threshold price transmission of Indonesian coffee in importing markets, the United States amounting to 0.9, Germany at -0.6, Japan at 0.5, Italy at 0.2, and Malaysia at -0.4. This means that when the coffee price of deviation in importing countries and Indonesia in its long-term balance exceeds its threshold value, coffee prices in importers countries will adjust to achieve their balance so that both coffee prices are in the Indonesian market and the markets of countries importers have a cointegration relationship.

PHARMACOECONOMIC EVALUATION FOR DENGUE VACCINE PRICING FOR MALAYSIA: TOWARDS AFFORDABILITY, COST EFFECTIVENESS AND SUSTAINABILITY

Objective: Malaysian health ministry is currently evaluating the licensing of dengue vaccine Dengvaxia using a set of criteria including safety, efficacy and cost-effectiveness. The purpose of this research is to formulate a model framework to assist transparent decision-making.Methods: To quantify the cost-effective price of vaccine, pharmacoeconomic evaluation models are commonly used. We review in this paper dengue economic burdens and pharmacoeconomic models, with particular reference to cost-effectiveness.Results: A major weakness in current pharmacoeconomic models is the omission of cost of vaccine production, which is two orders of magnitude lower than the market price. This paper proposes an inclusive model that yields a highly cost-effective threshold price of dengue vaccine at USD 5 per dose for Malaysia.Conclusion: At USD 5 per dose, Dengue vaccine will be fair, Affordable and sustainable.

An Assessment of Willingness To Pay by Maize and Groundnut Farmers for Aflatoxin Biocontrol Product in Northern Nigeria

ABSTRACT In Nigeria, Aflasafe is a registered biological product for reducing aflatoxin infestation of crops from the field to storage, making the crops safer for consumption. The important questions are whether farmers will purchase and apply this product to reduce aflatoxin contamination of crops, and if so under what conditions. A study was carried out to address these questions and assess determinants of willingness to pay (WTP) for the product among maize and groundnut farmers in Kano and Kaduna states in Nigeria. A multistage sampling technique was used to collect primary data from 492 farmers. The majority of farmers who had direct experience with Aflasafe (experienced farmers) in Kano (80.7%) and Kaduna (84.3%) had a WTP bid value equal to or greater than the threshold price ($10) at which Aflasafe was to be sold. The mean WTP estimates for Aflasafe for experienced farmers in Kano and Kaduna were statistically the same. However, values of $3.56 and $7.46 were offered in Kano and Kaduna states, respectively, by farmers who had never applied Aflasafe (inexperienced farmers), and the difference here was significant (P < 0.01). Regression results indicate that contact with extension agents (P < 0.01) and access to credit (P < 0.05) positively and significantly influenced the probability that a farmer would be willing to pay more for Aflasafe than the threshold price. Lack of awareness of the importance of Aflasafe was the major reason cited by inexperienced farmers (64% in Kano state and 21% in Kaduna state) for not using the product. A market strategy promoting a premium price for aflatoxin-safe produce and creating awareness and explaining the availability of Aflasafe to potential users should increase Aflasafe usage.