IDEAS home Printed from https://ideas.repec.org/a/ssi/jouesi/v8y2020i1p899-916.html
   My bibliography  Save this article

Medication market performance analysis with help of Analytic Hierarchy Processing

Author

Listed:
  • Vladislav Trubnikov

    (Worcester Polytechnic Institute, United States)

  • Artur Meynkhard

    (Financial University under the Government of the Russian Federation, Russian Federation)

  • Kristina Shvandar

    (Financial Research Institute of the Ministry of Finance of the Russian Federation, Russian Federation)

  • Oleg Litvishko

    (Plekhanov Russian University of Economics, Russian Federation)

  • Valery Titov

    (Plekhanov Russian University of Economics, Russian Federation)

Abstract

This study proposes the concept of Analytic Hierarchy Processing (AHP) on the market of active substances used in treatment of HIV and checks the control factors and criteria interconnection and implements Random Forest forecasting model. The new method must help to improve the management decision-making process in the fields of healthcare government budget planning. It has become a prime concern for understanding and comparing of publicly available information with internal market data and the consequences of companies` and government`s actions in choosing the best approach for correct construction of to reduce HIV incidence in Russia. The paper develops the forecasting model of one of the parameters, which has a substantial role in decision-making process. The medication market data in this study represents the cumulative daily concluded contracts, used in treatment of HIV in Russia, the level of HIV incidence (yearly) and federal budget on healthcare (yearly). The proposed approach have more than 82% average accuracy at predicting the sum of medication contract prices at the 3-year time period. The received figures are effective in predicting the factors` behavior in future. It can be used for improved modulation of AHP and consequently, the overall accuracy of the model structure.

Suggested Citation

  • Vladislav Trubnikov & Artur Meynkhard & Kristina Shvandar & Oleg Litvishko & Valery Titov, 2020. "Medication market performance analysis with help of Analytic Hierarchy Processing," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(1), pages 899-916, September.
    • Handle: RePEc:ssi:jouesi:v:8:y:2020:i:1:p:899-916
    DOI: 10.9770/jesi.2020.8.1(60)
    as

    Download full text from publisher

    File URL: https://jssidoi.org/jesi/uploads/articles/29/Trubnikov_Medication_market_performance_analysis_with_help_of_Analytic_Hierarchy_Processing.pdf
    Download Restriction: no
    File URL: https://jssidoi.org/jesi/article/660
    Download Restriction: no
    File URL: https://libkey.io/10.9770/jesi.2020.8.1(60)?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Dayong Nie & Elena Panfilova & Vadim Samusenkov & Alexey Mikhaylov, 2020. "E-Learning Financing Models in Russia for Sustainable Development," Sustainability, MDPI, vol. 12(11), pages 1-14, May.
    2. Anthony Msafiri Nyangarika & Alexey Yurievich Mikhaylov & Bao-jun Tang, 2018. "Correlation of Oil Prices and Gross Domestic Product in Oil Producing Countries," International Journal of Energy Economics and Policy, Econjournals, vol. 8(5), pages 42-48.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Manuel Sousa & Maria Fatima Almeida & Rodrigo Calili, 2021. "Multiple Criteria Decision Making for the Achievement of the UN Sustainable Development Goals: A Systematic Literature Review and a Research Agenda," Sustainability, MDPI, vol. 13(8), pages 1-37, April.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ivan Udalov, 2021. "The Transition to Renewable Energy Sources as a Threat to Resource Economies," International Journal of Energy Economics and Policy, Econjournals, vol. 11(3), pages 460-467.
    2. Xenia Tabachkova, 2021. "Consequences of Oil Supply and Demand on the Electricity Market: Coronavirus Effect," International Journal of Energy Economics and Policy, Econjournals, vol. 11(4), pages 573-580.
    3. Uyeh Daniel Dooyum & Alexey Mikhaylov & Igor Varyash, 2020. "Energy Security Concept in Russia and South Korea," International Journal of Energy Economics and Policy, Econjournals, vol. 10(4), pages 102-107.
    4. Jaehyung An & Alexey Mikhaylov & Sang-Uk Jung, 2020. "The Strategy of South Korea in the Global Oil Market," Energies, MDPI, vol. 13(10), pages 1-8, May.
    5. Mikhail Bondarev, 2020. "Energy Consumption of Bitcoin Mining," International Journal of Energy Economics and Policy, Econjournals, vol. 10(4), pages 525-529.
    6. Nikita Suslov & Vladimir Buzulutskov & Ekaterina Isupova, 2022. "Inter-sector Inter-Region Model for Russian Economy: Methodology and Application," International Journal of Energy Economics and Policy, Econjournals, vol. 12(1), pages 307-315.
    7. Artur Meynkhard, 2020. "Priorities of Russian Energy Policy in Russian-Chinese Relations," International Journal of Energy Economics and Policy, Econjournals, vol. 10(1), pages 65-71.
    8. Valeriia Denisova, 2019. "Energy Efficiency as a Way to Ecological Safety: Evidence From Russia," International Journal of Energy Economics and Policy, Econjournals, vol. 9(5), pages 32-37.
    9. Ivonne Angelica Castiblanco Jimenez & Laura Cristina Cepeda García & Maria Grazia Violante & Federica Marcolin & Enrico Vezzetti, 2020. "Commonly Used External TAM Variables in e-Learning, Agriculture and Virtual Reality Applications," Future Internet, MDPI, vol. 13(1), pages 1-21, December.
    10. Li-Jen He & Jianxiong Chen, 2021. "Does Mandatory Audit Partner Rotation Influence Auditor Selection Strategies?," Sustainability, MDPI, vol. 13(4), pages 1-21, February.
    11. Yang, Jinxuan & Rizvi, Syed Kumail Abbas & Tan, Zhixiong & Umar, Muhammad & Koondhar, Mansoor Ahmed, 2021. "The competing role of natural gas and oil as fossil fuel and the non-linear dynamics of resource curse in Russia," Resources Policy, Elsevier, vol. 72(C).
    12. Ahmad Al Humssi & Maria Petrovskaya & Milana Abueva, 2022. "Modelling the Impact of World Oil Prices and the Mining and Quarrying Sector on the United Arab Emirates’ GDP," Mathematics, MDPI, vol. 11(1), pages 1-22, December.
    13. Jaehyung An & Alexey Mikhaylov & Nikita Moiseev, 2019. "Oil Price Predictors: Machine Learning Approach," International Journal of Energy Economics and Policy, Econjournals, vol. 9(5), pages 1-6.
    14. Jean-Louis Bago & Koffi Akakpo & Imad Rherrad & Ernest Ouédraogo, 2021. "Volatility Spillover and International Contagion of Housing Bubbles," JRFM, MDPI, vol. 14(7), pages 1-14, June.
    15. Sugra Ingilab Humbatova & Natig Gadim-Oglu Hajiev, 2024. "Analysis of the Main Social Macroeconomic Indicators of the Population During The oil Boom in Azerbaijan," International Journal of Energy Economics and Policy, Econjournals, vol. 14(2), pages 135-149, March.
    16. Sylvester Ngome Chisika & Chunho Yeom, 2021. "Enhancing Sustainable Development and Regional Integration through Electrification by Solar Power: The Case of Six East African States," Sustainability, MDPI, vol. 13(6), pages 1-20, March.
    17. Anton Lisin, 2020. "Biofuel Energy in the Post-oil Era," International Journal of Energy Economics and Policy, Econjournals, vol. 10(2), pages 194-199.
    18. Akhmad Akhmad & Buyung Romadhoni & Kasnaeny Karim & Muhammad Jibril Tajibu & Muhammad Syukur, 2019. "The Impact of Fuel Oil Price Fluctuations on Indonesia s Macro Economic Condition," International Journal of Energy Economics and Policy, Econjournals, vol. 9(2), pages 277-282.
    19. Fe Amor Parel Gudmundsson & Sergey Prosekov & Natalia Sokolinskaya & Sergey Tarakanov & Evgeniy Lopatin, 2020. "Factors of the Formation of Modern Energetic Reality in North Western Europe," International Journal of Energy Economics and Policy, Econjournals, vol. 10(4), pages 539-544.
    20. Vladislav Trubnikov & Ulf Henning Richter, 2020. "China Energy Policy: Evidence of China-Russia Cooperation," International Journal of Energy Economics and Policy, Econjournals, vol. 10(1), pages 145-149.

    More about this item

    Keywords

    medical contract prices analysis; multi criteria decision making; machine learning approach; innovations; healthcare management; HIV; Russia;
    All these keywords.

    JEL classification:

    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General
    • I11 - Health, Education, and Welfare - - Health - - - Analysis of Health Care Markets
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ssi:jouesi:v:8:y:2020:i:1:p:899-916. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Manuela Tvaronaviciene (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.