On the Formation of Buyer-Seller Relationships when Product Quality is Perfectly Observable

This study explores the formation of buyer-seller relationships in markets with observable quality. We develop a model that explains why relationships form in equilibrium within such markets. A key feature of our model is that as individuals gain experience in the marketplace, they resolve uncertainty over unobserved bargainer types. Relationships thus form as a means to reduce such transactions costs and uncertainty. We explore the usefulness of our theory by using a battery of simulations and experimental treatments. Overall, we find that our theoretical predictions are largely confirmed. Interestingly, the quantitative impact of relationships on overall market efficiency depends critically on the extend to which market structure affects the matching of buyers and sellers that could profitably transact. In certain important cases, a greater number of buyer-seller relationships can reduce market efficiency.Field experiments, pricing, market structure

Geology of a Portion of the Bull Mountain Range Jefferson County, Montana

Work was first done on a known section, the south Boulder Section, in order to familiarize the student with the formations. Most of the area was mapped by plane table and telescopic alidade, general features being surveyed by automobile traverse and a pacing traverse

Comment intégrer les pays en développement dans des politiques climatiques basées sur un système de quotas d'émissions ?

National audienceLes politiques climatiques ne seront pas acceptées par les pays en développement tant qu'elles seront perçues comme une contrainte supplémentaire sur leur développement. La répartition du fardeau imposée par le changement climatique sur ces pays doit donc être perçue comme équitable. Cependant, la diversité des métriques envisageables pour juger du caractère équitable d'une allocation de quotas compromet la possibilité d'aboutir à un accord. Par contre, un système de permis d'émissions négociables induit des transferts compensatoires qui peuvent être importants et aider à la mise en place d'un ensemble de quotas et de mesures d'accompagnement visant la levée de barrières au développement

Antifungal Activity of Lavandula angustifolia Essential Oil against Candida albicans: Time-Kill Study on Pediatric Sputum Isolates

The aim of our study was to determine the susceptibility of 15 Candida albicans sputum isolates on fluconazole and caspofungin, as well as the antifungal potential of Lavandula angustifolia essential oil (LAEO). The commercial LAEO was analyzed using gas chromatography-mass spectrometry. The antifungal activity was evaluated using EUCAST protocol. A killing assay was performed to evaluate kinetics of 2% LAEO within 30 min treatment. LAEO with major constituents’ linalool (33.4%) and linalyl acetate (30.5%) effective inhibited grows of C. albicans in concentration range 0.5–2%. Fluconazole activity was noted in 67% of the isolates with MICs in range 0.06–1 µg/mL. Surprisingly, 40% of isolates were non-wild-type (non-WT), while MICs for WT ranged between 0.125–0.25 µg/mL. There were no significant differences in the LAEO MICs among fluconazole-resistant and fluconazole-susceptible sputum strains (p = 0.31) and neither among caspofungin non-WT and WT isolates (p = 0.79). The 2% LAEO rapidly achieved 50% growth reduction in all tested strains between 0.2 and 3.5 min. Within 30 min, the same LAEO concentration exhibited a 99.9% reduction in 27% isolates. This study demonstrated that 2% solution of LAEO showed a significant antifungal activity which is equally effective against fluconazole and caspofungin susceptible and less-susceptible strains