Price Premium for High-Efficiency Refrigerators and Calculation of Price-Elasticities for Close-Substitutes: Combining Hedonic Pricing and Demand Systems

21 p.

Optimal Scheduling of Secondary Content for Aggregation in Video-on-Demand Systems

Dynamic service aggregation techniques can exploit skewed access popularity patterns to reduce the costs of building interactive VoD systems. These schemes seek to cluster and merge users into single streams by bridging the temporal skew between them, thus improving server and network utilization. Rate adaptation and secondary content insertion are two such schemes. In this paper, we present and evaluate an optimal scheduling algorithm for inserting secondary content in this scenario. The algorithm runs in polynomial time, and is optimal with respect to the total bandwidth usage over the merging interval. We present constraints on content insertion which make the overall QoS of the delivered stream acceptable, and show how our algorithm can satisfy these constraints. We report simulation results which quantify the excellent gains due to content insertion. We discuss dynamic scenarios with user arrivals and interactions, and show that content insertion reduces the channel bandwidth requirement to almost half. We also discuss differentiated service techniques, such as N-VoD and premium no-advertisement service, and show how our algorithm can support these as well.

The Theoretical Framework and Methodology to Estimate the Farm Labour and Other Factor-Derived Demand and Output Supply Systems. Factor Markets Working Document No. 44, May 2013

This paper provides a conceptual framework for the estimation of the farm labour and other factor-derived demand and output supply systems. In order to analyse the drivers of labour demand in agriculture and account for the impact of policies on those decisions, it is necessary to acknowledge the interaction between the different factor markets. For this purpose, we present a review of the theoretical background to primal and dual representations of production and some empirical literature that has made use of derived demand systems. The main focus of the empirical work is to study the effect of market distortions in one market, through inefficient pricing, on the demand for other inputs. Therefore, own-price and cross-price elasticities of demand become key variables in the analysis. The dual cost function is selected as the most appropriate approach, where input prices are assumed to be exogenous. A commonly employed specification – and one that is particularly convenient due to its flexible form – is the translog cost function. The analysis consists of estimating the system of cost-share equations, in order to obtain the derived demand functions for inputs. Thus, the elasticities of factor substitution can be used to examine the complementarity/substitutability between inputs.

Demand and supply: price elasticities and corporate performance in the UK

This paper investigates the relationship between consumer demand and corporate performance in several consumer industries in the UK, using two independent datasets. It uses data on consumer expenditures and the retail price index to estimate Almost Ideal Demand Systems on micro-data and compute timevarying price elasticities of demand for disaggregated commodity groups. Then, it matches the product definitions to the Standard Industry Classification and uses the estimated elasticities to investigate the impact of consumer behaviour on firm-level profitability equations. The time-varying household characteristics are ideal instruments for the demand effects in the firms' supply equation. The paper concludes that demand elasticities have a significant and tangible impact on the profitability of UK firms and that this impact can shed some light on the relationship between market structure and economic performance.

Evaluating the Role of Energy Efficiency Labels: the Case of Dish Washers

27 p.

40 Gbit/s optical communication system

The University of Bristol is studying the feasibility of deploying 40 Gbit/s optical time division multiplexed (OTDM) transmission networks to support new telecommunication services such the Internet and video-on-demand systems. Among the functional blocks being considered in the project are the optical pulse sources, signal multiplexers and demultiplexers, clock recovery subsystems, signal detection and dispersion accommodation methods.

A Test of New Aggregate Damand Curvature Properties.

In This Paper We Present and Implement an Econometric Test of Both Negative Semi-Definiteness of the Matrix of Compensated Price Effects and of the Negative Quasi-Definiteness of the Matrix of Uncompensated Price Effects. This Test Allows Us to Evaluate Two Alternative Characterizations of Aggregate Demand Systems: the First, That They Behave Like Individual Demand Fuctions, and the Second, That They Respect the Properties Implied by the Assumptions Proposed by Hidebrand (1983) Or Grandmont (1984).

El consumo de los hogares colombianos, 2006-2007: estimación de sistemas de demanda

Utilizando datos a nivel de hogares de la Encuesta de Ingresos y Gastos 2006- 007, presentamos nuevas estimaciones de sistemas de demanda para Colombia. Estimamos tres diferentes especificaciones de sistemas de demanda, a saber, el Sistema Lineal de Gastos (LES), el Sistema Lineal de Gastos Extendido (ELES) y el Sistema Cuasi-Ideal de Demanda (AIDS). También calculamos valores de elas- ticidades gasto, ingreso y precio para diferentes grupos de bienes. Encontramos que la elasticidad gasto de los alimentos se ha mantenido estable a través del tiempo alrededor de 0.77. Por su parte, el vestuario ha dejado de ser un de bien de lujo para volverse un bien de elasticidad gasto unitaria. Finalmente, la salud y la educación siguen siendo bienes de lujo, pero sus elasticidades gasto han caıdo a través es del tiempo.

Divisia indexes, money and welfare

We suggest the use of a particular Divisia index for measuring welfare losses due to interest rate wedges and in‡ation. Compared to the existing options in the literature: i) when the demands for the monetary assets are known, closed-form solutions for the welfare measures can be obtained at a relatively lower algebraic cost; ii) less demanding integrability conditions allow for the recovery of welfare measures from a larger class of demand systems and; iii) when the demand speci…cations are not known, using an index number entitles the researcher to rank di¤erent vectors of opportunity costs directly from market observations. We use two examples to illustrate the method.

A novel real time pricing scheme for demand response in residential distribution systems

Price based technique is one way to handle increase in peak demand and deal with voltage violations in residential distribution systems. This paper proposes an improved real time pricing scheme for residential customers with demand response option. Smart meters and in-home display units are used to broadcast the price and appropriate load adjustment signals. Customers are given an opportunity to respond to the signals and adjust the loads. This scheme helps distribution companies to deal with overloading problems and voltage issues in a more efficient way. Also, variations in wholesale electricity prices are passed on to electricity customers to take collective measure to reduce network peak demand. It is ensured that both customers and utility are benefitted by this scheme.

Systems modelling of the socio-technical aspects of residential electricity use and network peak demand

Provision of network infrastructure to meet rising network peak demand is increasing the cost of electricity. Addressing this demand is a major imperative for Australian electricity agencies. The network peak demand model reported in this paper provides a quantified decision support tool and a means of understanding the key influences and impacts on network peak demand. An investigation of the system factors impacting residential consumers’ peak demand for electricity was undertaken in Queensland, Australia. Technical factors, such as the customers’ location, housing construction and appliances, were combined with social factors, such as household demographics, culture, trust and knowledge, and Change Management Options (CMOs) such as tariffs, price,managed supply, etc., in a conceptual ‘map’ of the system. A Bayesian network was used to quantify the model and provide insights into the major influential factors and their interactions. The model was also used to examine the reduction in network peak demand with different market-based and government interventions in various customer locations of interest and investigate the relative importance of instituting programs that build trust and knowledge through well designed customer-industry engagement activities. The Bayesian network was implemented via a spreadsheet with a tick box interface. The model combined available data from industry-specific and public sources with relevant expert opinion. The results revealed that the most effective intervention strategies involve combining particular CMOs with associated education and engagement activities. The model demonstrated the importance of designing interventions that take into account the interactions of the various elements of the socio-technical system. The options that provided the greatest impact on peak demand were Off-Peak Tariffs and Managed Supply and increases in the price of electricity. The impact in peak demand reduction differed for each of the locations and highlighted that household numbers, demographics as well as the different climates were significant factors. It presented possible network peak demand reductions which would delay any upgrade of networks, resulting in savings for Queensland utilities and ultimately for households. The use of this systems approach using Bayesian networks to assist the management of peak demand in different modelled locations in Queensland provided insights about the most important elements in the system and the intervention strategies that could be tailored to the targeted customer segments.