premium

Definitions

  • WordNet 3.6
    • adj premium having or reflecting superior quality or value "premium gasoline at a premium price"
    • n premium payment or reward (especially from a government) for acts such as catching criminals or killing predatory animals or enlisting in the military
    • n premium a prize, bonus, or award given as an inducement to purchase products, enter competitions initiated by business interests, etc. "they encouraged customers with a premium for loyal patronage"
    • n premium payment for insurance
    • n premium a fee charged for exchanging currencies
    • n premium the amount that something in scarce supply is valued above its nominal value "they paid a premium for access to water"
    • ***
Webster's Revised Unabridged Dictionary
  • Interesting fact: Only about 20% of harvested coffee beans are considered to be a premium bean of the highest quality.
    • Premium A reward or recompense; a prize to be won by being before another, or others, in a competition; reward or prize to be adjudged; a bounty; as, a premium for good behavior or scholarship, for discoveries, etc. "To think it not the necessity, but the premium and privilege of life, to eat and sleep without any regard to glory.""The law that obliges parishes to support the poor offers a premium for the encouragement of idleness."
    • Premium A sum in advance of, or in addition to, the nominal or par value of anything; as, gold was at a premium; he sold his stock at a premium.
    • Premium A sum of money paid to underwriters for insurance, or for undertaking to indemnify for losses of any kind.
    • Premium Something offered or given for the loan of money; bonus; -- sometimes synonymous with interest, but generally signifying a sum in addition to the capital. "People were tempted to lend, by great premiums and large interest."
    • ***
Century Dictionary and Cyclopedia
  • Interesting fact: There are, on average, 259 raisins in a box of Raisin Bran and 388 in a box of Premium Raisin Bran.
    • n premium A reward; a recompense given for a particular action or line of conduct. Specifically— A prize to be won by competition.
    • n premium That which is given for the loan of money; interest.
    • n premium In insurance, the amount paid or agreed to be paid in one sum or periodically to insurers as the consideration for a contract of insurance. See insurance, 2.
    • n premium In banking and currency, the difference by which the value of one metallic currency exceeds that of another of the same denomination, or by which a metallic currency exceeds a paper currency of the same denomination in the same country; agio: the opposite of discount, or disagio, which is the amount by which the value of one currency has depreciated when compared with another. Thus, during the civil war in the United States, when $125 in paper currency was demanded for $100 in gold, the gold dollar was said to be at a premium of 25, as compared with paper, but it might more correctly be said that paper was at a discount of 20 per cent, as compared with gold.
    • n premium In stock-broking, etc., the percentage of difference by which the market price of shares, stocks, bonds, etc., exceeds their face-value or the sum originally paid for them: thus, when stock originally issued at $100 per share sells at $140 per share, it is said to be at a premium of 40 per cent.
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Chambers's Twentieth Century Dictionary
  • Interesting fact: Alcoholic lemonade is outselling premium bottled lagers in United Kingdom pubs, according to a report in "NASFT Showcase" magazine.
    • n Premium prē′mi-um a reward: a prize: a bounty: payment made for insurance: the difference in value above the original price or par of stock—opp. to Discount: anything offered as an incentive
    • ***

Quotations

  • Gail Godwin
    Gail Godwin
    “One is taught by experience to put a premium on those few people who can appreciate you for what you are.”

Etymology

Webster's Revised Unabridged Dictionary
L. praemium, originally, what one has got before or better than others; prae, before + emere, to take, buy. See Redeem
Chambers's Twentieth Century Dictionary
L. præmiumpræ, above, emĕre, to buy.

Usage

In literature:

Indeed, upon a test vote in Congress in February last, it had failed, when the premium on gold rose immediately over twenty per cent.
"The Continental Monthly, Vol. IV. October, 1863, No. IV." by Various
The day the premium book was handed them, all serious effort died.
"The Young Priest's Keepsake" by Michael Phelan
They considered it simply as an increase of their peace insurance premium.
"New York Times Current History: The European War from the Beginning to March 1915, Vol 1, No. 2" by Various
It set a premium upon the virtues of courage, self-control, justice and public spirit.
"Some Christian Convictions" by Henry Sloane Coffin
My father tried to find a position for me; but the farmers asked too high a premium.
"Autobiography of Friedrich Froebel" by Friedrich Froebel
Naturally the bonds are at a high premium.
"The Transvaal from Within" by J. P. Fitzpatrick
No premium is offered for U.S. pennies coined in 1858.
"Golden Days for Boys and Girls, Vol. XIII, Nov. 28, 1891" by Various
The total offered in premiums for all classes of exhibits has been $303,961.
"Prairie Farmer, Vol. 56: No. 1, January 5, 1884." by Various
The premium list was revised for the fair of 1884.
"The Prairie Farmer, Vol. 56, No. 2, January 12, 1884" by Various
The fourth premium comes due at this meeting, but no claimants have as yet come forward for any of these premiums.
"Trees, Fruits and Flowers of Minnesota, 1916" by Various
By the ingenious use of export premiums, the Germans had the best of it.
"The War After the War" by Isaac Frederick Marcosson
But thus far, I've paid my premium and got no return, these last three years.
"The Second Latchkey" by Charles Norris Williamson and Alice Muriel Williamson
Why five men out of six would pay a large premium for a chance at such rating.
"Star Hunter" by Andre Alice Norton
The Allen engine was the only important one entered, and of course received the first premium.
"Scientific American, Volume XXIV., No. 12, March 18, 1871" by Various
His first editions begin to bring higher premiums than those of any other living author.
"A Book of Prefaces" by H. L. Mencken
For several months the dividends were paid regularly, and the company's stock rose to a splendid premium.
"Lights and Shadows of New York Life" by James D. McCabe
The idea of someone stealing the nuts and getting the premiums!
"Northern Nut Growers Report of the Proceedings at the Twenty-First Annual Meeting" by Northern Nut Growers Association
And if the only way he can free himself is by adultery, does not your stringent divorce law put a premium upon vice?
"A Preface to Politics" by Walter Lippmann
The social system no longer offers a premium on dishonesty.
"Looking Backward" by Edward Bellamy
Of course, it did save space to build apartments this way, and space was at a premium.
"This Crowded Earth" by Robert Bloch
***

In poetry:

"`Since you've been out, the news arrives
The Elfs' Insurance Company's gone.
Ah, Claus, those premiums! Now, our lives
Depend on yours: thus griefs go on.
"The Hard Times In Elfland [A Story of Christmas Eve]" by Sidney Lanier
What a blessed thing it were to be old--
A little past "forty-five;"
'Twere better indeed than a purse of gold
At a premium yet unwritten, untold,
For what poor devil that's now "enrolled"
Expects to get off alive?
"The Draft" by Hanford Lennox Gordon
"I cannot pay that premium, I'll have to let it go;
It fills me with remorse and sorrow, not to mention woe.
Though I'm quite strong and healthy, and will outlive you, perhaps,
I cannot pay that premium; I'll have to let it lapse."
"I Cannot Pay That Premium" by Franklin Pierce Adams

In news:

Toshiba is following up its Thrive Android Honeycomb tablet with the 10 LE, a premium slate that is only 7.7mm thin and weighs 1.18 pounds.
Plans will start at $69.99 per month plus a $10 premium data add-on charge.
The eyeglasses will initially cost about $1,000, says Blum, 63, a 20 percent to 25 percent premium over high-end frames with progressive lenses.
This represents a 64% premium over Facet 's closing price on September 3, while the firm's 52-week high was $50 per share.
Audrey Wood used to pay $300 a month for her mother's dementia medication along with premium costs for her husband's and her own health care.
Medicare Premium Hike May Offset Benefit Increase.
You need to sign in to view this premium content.
The really hot, high-tech, premium-priced apparel brand.
Carolina Prime Pets, which manufactures premium pet food products, plans to relocate to Lenoir this year.
Pepsi to launch 'premium' soft drink.
PepsiCo said it will launch its first premium soft drink in the second quarter of next year.
People will pay a premium for immediate over future rewards.
Premium forwarding easier at postal service.
The US Postal Service has added Premium Forwarding Service to the suite of online products and services available through usps.com.
Should I take it up a notch and pick premium.
***

In science:

The resulting premium has been evaluated for some realistic scenarios and grows first quadratically with the number of months and then more slowly.
Pricing of insurance policies against cloud storage price rises
The impact of the dispersion of storage prices on the premium is quite small for short durations and practically negligible for longer ones.
Pricing of insurance policies against cloud storage price rises
For physics studies such as Higgs pair production in association with a Z boson (to measure the Higgs self couplings) there is a premium on the best possible jet energy resolution.
Linear Collider Workshop 2000 Summary
So this comparison puts a premium on very precise mass determinations, such as a linear collider will make possible.
Linear Collider Physics Resource Book for Snowmass 2001 - Part 1: Introduction
It permits them to charge premium prices for bug fixes and upgrades.
Open source software and peer review
For more decision variables it requires an add-in such as the Excel Solver. More powerful solvers are available from Frontline Systems (Premium Solver product line, www.solver.com) and Lindo Systems (What’s Best! product line, www.lindo.com).
A Primer on Spreadsheet Analytics
Detailed understanding of hadronic charm decays places a premium on efficient and pure particle identification, high resolution on daughter hadron momenta, well-understood initial states, and large datasets, which these experiments can provide.
Hadronic Charm Decays: An Experimental Review
Premium for this rearrangement is that the approach becomes explicitly consistent with the heavy quark expansion. A detailed comparison of light-cone and conventional QCD sum rules can be found in .
QCD Sum Rules for Heavy Flavors
Moreover, there exists a predictable and bounded process θ (the risk premium ) such that bt − rt1 = σtθt , dP×dt a.s. (1 denotes the vector with all components equal to one).
Pricing financial derivatives by a minimizing method
This degree of freedom can be used to fix the risk premium according to λt = −σ ˆΦtt without loss of generality (see also the discussion in Brody & Hughston 2002).
Information of Interest
The key point to note here is that the specification of a model {ξt} for the flow of information concerning the timing of the liquidity risk fixes both the short rate process {rt} and the risk premium process {λt}.
Information of Interest
What the model shows is that in such a scenario the risk premium becomes negative.
Information of Interest
Under normal market conditions, we expect the risk premium be positive.
Information of Interest
It is worth remarking that the positivity of the risk premium in the arbitrage pricing theory is an assumption that cannot be deduced from the no arbitrage condition.
Information of Interest
Hence it is satisfying that in the present framework we are able to deduce how the structure of the flow of information affects the signature of the risk premium.
Information of Interest
***