442 research outputs found
Semiparametric Estimation in Models of First-Price, Sealed-Bid Auctions with Affiliation
No full textWithin the affiliated private-values paradigm, we develop a tractable empirical model of equilibrium behaviour at first-price, sealed-bid auctions. The model is non-parametrically identified, but the rate of convergence in estimation is slow when the number of bidders is even moderately large, so we develop a semiparametric estimation strategy, focusing on the Archimedean family of copulae and implementing this framework using particular members--the Clayton, Frank, and Gumbel copulae. We apply our framework to data from low-price, sealed-bid auctions used by the Michigan Department of Transportation to procure road-resurfacing services, rejecting the hypothesis of independence and finding significant (and high) affiliation in cost signals.first-price, sealed-bid auctions, copulae, affiliation
Replication Data for Hurricanes and Gasoline Price Gouging
No full textThese files provide code to replicate results from the paper “Hurricanes and Gasoline Price Gouging” published in the Journal of the Association of Environmental and Resource Economists. All retail and wholesale gasoline price data are proprietary and were purchased from the Oil Price Information Service (OPIS)
FRACTAL GEOMETRY IN AGRICULTURAL CASH PRICE DYNAMICS
No full textAgricultural prices are determined by natural and socio-economic factors that are known to be self-similar at different time scales and to follow non-periodic cyclical patterns. These properties are most easily understood using Mandelbrot's fractal geometry, in which a jagged time series is treated as a jagged coastline or any other natural phenomenon. The fractal market hypothesis provides the theory needed to explain why fractal structure exists in agricultural prices. Empirical evidence confirms theoretical predictions.Demand and Price Analysis,
Making Sense of Non-Binding Retail-Price Recommendations
No full textWe model non-binding retail-price recommendations (RPRs) as a communication device facilitating coordination in vertical supply relations. Assuming both repeated vertical trade and asymmetric information about production costs, we show that RPRs may be part of a relational contract, communicating private information from manufacturer to retailer that is indispensable for maximizing joint surplus. We show that this contract is self-enforcing if the retailer’s profit is independent of production costs and punishment strategies are chosen appropriately. We also extend our analysis to settings where consumer demand is variable or depends directly on the manufacturer’s RPRs.vertical relationships, relational contracts, asymmetric information, price recommendations
The evolution in the treatment of colorectal carcinoma.
No full textTitle page, table of contents, list of publications and abstract only. The complete thesis in print form is available from the University of Adelaide Library.Colorectal cancer (CRC) is a significant health problem in the community with nearly 4000 patients dying each year in Australia. Subsequently there is an ongoing need to improve diagnosis and treatment. Over the last 15 years, significant advances have been made with improvements in screening methods, diagnostic accuracy with modern radiological techniques, surgical interventions including resection of liver and lung metastasis, and improvements in the systemic therapy for patients, both in the post/perioperative and metastatic setting. The aim of the research projects presented here has been to both add to and further complement the development and improvements in care for CRC. The areas covered in this thesis are as follows; combination chemotherapy, specifically with mitomycin C, combination chemotherapy and anti-VEGF (bevacizumab), anti-EGFR therapy, development of biomarkers for anti-EGFR and anti-VEGF therapy, combination chemotherapy in stage lll CRC, and finally analysis of registry data assessing changes and patterns of care in the community. The final section of this research also assesses the impact that advances reported in clinical trials have had on normal clinical practice.Thesis (M.D.) -- University of Adelaide, School of Medicine, 201
Hospital Teaching Status and Medicare Expenditures for Hepato-Pancreato-Biliary Surgery
No full textBackground: The association of hospital teaching status and overall expenditures has not been studied among patients undergoing hepato-pancreato-biliary (HPB) surgery. We sought to define the impact of hospital teaching intensity on payments and charges associated with (HPB) surgery from the payer perspective. Methods: Surgical patients undergoing HPB procedures were identified using 2013–2015 Medicare Provider Analysis and Review (MEDPAR) data. Hospital teaching intensity was categorized based on hospital resident-to-bed ratio: non-teaching (NTH: 0), minor teaching (minor-TH: 0–0.363), and major teaching (major-TH: > 0.363). Risk-adjusted price-standardized Medicare payments were assessed and compared among HPB surgical patients at NTH versus major-TH. Results: A total of 8863 patients underwent HPB (NTH: n = 1239, 14.0%; minor-TH: n = 3202, 36.1%; major-TH: n = 4422, 49.9%). Patient comorbidities did not vary across hospital according to teaching intensity (p = 0.27). Mean risk-adjusted Medicare payment at a major-TH was 19,345 at a NTH (Δ-payment: + 10,195; p < 0.001). Differences in Medicare payments associated with hospital teaching status persisted when the risk-adjusted price was standardized to remove social subsidies and regional variation in costs (NTH: 19,760 vs. major-TH: 8623). Major-TH had higher total charges submitted to Medicare versus NTH (NTH: 120,498; Δ-charge = + $19,915), including charges for accommodations, laboratory, and blood utilization (all p < 0.05). Compared with NTH, major-TH had lower morbidity (22.6 vs. 19.0%), serious complications (13.0 vs. 10.5%) and 30-day mortality (4.8 vs. 2.3%) (all p < 0.05). Conclusions: Major-TH was associated with higher Medicare expenditures than NTH among HPB surgical patients. These differences were attributable, in part, to higher submitted charges for hospital-based services. While associated with higher payments and charges, TH did have better short-term outcomes compared with NTH
Cetuximab in metastatic colorectal cancer
No full textManagement of metastatic colorectal cancer has evolved in the last 10 years, with the availability of targeted therapies resulting in improvement in quality of life and overall survival. Cetuximab is a chimeric monoclonal antibody that binds to the EGF receptor, and the net effects are inhibition of tumor growth, invasion, angiogenesis and metastasis. Cetuximab binding to the EGF receptor is also known to augment the effects of chemotherapy and radiotherapy. Only tumors expressing wild-type KRAS respond to cetuximab and improvements in progression-free survival and overall survival are seen, whereas patients with mutant KRAS are considered to be resistant. Cetuximab is currently available worldwide for use as monotherapy or in combination with chemotherapy in first-, second- or third-line settings in metastatic colorectal cancer patients with wild-type KRAS.Vy Tuong Broadbridge, Cristos S. Karapetis and Timothy Jay Pric
Generating Evidence to Guide Merger Enforcement
No full textThe challenge of effective merger enforcement is tremendous. U.S. antitrust agencies must, by statute, quickly forecast the competitive effects of mergers that occur in virtually every sector of the economy to determine if mergers can proceed. Surprisingly, given the complexity of the regulators task, there is remarkably little empirical evidence on the effects of mergers to guide regulators. This paper describes the necessity of retrospective analysis of past mergers in building an empirical basis for antitrust enforcement, and provides guidance on the key measurement issues researchers confront in estimating the price effects of mergers. We also describe how evidence from merger retrospectives can be used to evaluate the economic models used to predict the competitive effects of mergers.Corporate mergers, antitrust enforcement
Generating Evidence to Guide Merger Enforcement
No full textThe challenge of effective merger enforcement is tremendous. U.S. antitrust agencies must, by statute, quickly forecast the competitive effects of mergers that occur in virtually every sector of the economy to determine if mergers can proceed. Surprisingly, given the complexity of the regulators task, there is remarkably little empirical evidence on the effects of mergers to guide regulators. This paper describes the necessity of retrospective analysis of past mergers in building an empirical basis for antitrust enforcement, and provides guidance on the key measurement issues researchers confront in estimating the price effects of mergers. We also describe how evidence from merger retrospectives can be used to evaluate the economic models used to predict the competitive effects of mergers.
The influence of demographic and household specific price indices on expenditure based inequality and welfare: A comparison of Spain and the united states.
No full textThe purpose of this research is to examine the role of household size and household specific price indices on inequality and welfare measurement in Spain and the O.S. Total household expenditures from each countries' 1990-91 consumer expenditure surveys, with adjustments to reflect more accurately households' current consumption, are used as the basis for the analysis. Household size scale factors are used to produce adjusted expenditures. Household specific price indices are used to expresss the 1990-91 expenditure distribution at winter of 1981 and winter of 1991 prices. Decomposable measurement instruments are used both for the inequality and social welfare analyses. Our results show that wide differences in household size can be very important in international comparisons. Inequality and welfare comparisons are drastically different for smaller and larger households. For both countries we find that from the point of view of winter 1981, the amount of expenditures that we would need to give to richer households to compensate them for inflation, over the 1981 to 1991 period, would be greater than the amount that we would need to give to poorer households for them to be able to acquire the same bundle of goods. Our inequality comparisons are robust to the choice of the reference price vector.Theil inequality; Wealfare; Demographic factors; household expenditures; Household price indexes;
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