Price Discrimination with Contract Terms: The Lost Volume Problem

In a common commercial pattern, the seller of a standard product contracts with one buyer and then sells to another at the contract price after the initial buyer breaches. Sellers argue, and courts largely agree, that the seller could have served the contract buyer as well as the later buyer; hence, the seller is entitled to retain a down payment to the extent of, or sue to recover, the profit – price less cost – that it would have realized on the initial sale had that sale been completed. Some courts and many scholars disagree, arguing that resale of the contract product at the contract price is fully compensatory; consequently, the seller is not entitled to damages. In this paper, we show that sellers in these “lost volume” contexts may use non-refundable down payments and later transaction prices in an attempt to practice second degree price discrimination. Sellers select among combinations of low down payment and high transaction price – which maximize the number of contracts as these serve low-value buyers, who are relatively unlikely to trade and pay the transaction price but who would be deterred by a significant down payment – and combinations of high down payment and low transaction price – which maximize the likelihood of transaction given a contract and serve high value buyers, who are relatively undeterred by a high down payment as they expect to benefit from increased trade at the low transaction price. These disparate preferences sometimes enable sellers to induce separation among the buyers by offering contracts that differ in their down payment/transaction price combinations. As a positive matter, we identify a form of price discrimination that does not require the seller to vary either the quantity or the quality of goods sold to an individual buyer. As a normative matter, we argue that a rule enforcing price discrimination contracts – i.e., restricting sellers to retention only of the down payment – is preferable to any mandatory rule on the treatment of liquidated damages as well as to the current majority default rule, which permits sellers to recover lost profits when they exceed the down payment, or the current minority default rule, which permits sellers to recover nothing

The 5, 10 methylenetetrahydrofolate reductase C677T mutation and risk of fetal loss: a case series and review of the literature

<p>Abstract</p> <p>Background</p> <p>The true relationship between methylenetetrahydrofolate reductase C677T homozygosity and risk of recurrent spontaneous abortion is unknown, and it is unclear if women with these mutations should be anticoagulated during pregnancy.</p> <p>Objectives</p> <p>We report a series of 8 patients with this issue and review the current literature.</p> <p>Methods</p> <p>8 patients (3 of whom were actively pregnant) were referred with histories of spontaneous fetal loss; hypercoaguability work-ups revealed each were homozygous for the MTHFR C677T mutation without other thrombophilias.</p> <p>Results</p> <p>In the 3 women who have conceived, treatment with LMW heparin during pregnancy led to two full-term births and one additional pregnancy without complication. For the 5 who have not, we recommended treatment with LMW heparin upon conception.</p> <p>Conclusion</p> <p>We provide evidence to support the relationship between MTHFR C677T mutations and recurrent fetal loss, and to suggest that anticoagulation of these patients during pregnancy can lead to a successful pregnancy outcome.</p

Open Heavy Flavor at PHENIX

We report on two new measurements by the PHENIX collaboration regarding open heavy flavor. The first is an additional contribution to the background in the measurement of the yield of electrons at mid-rapidity from open heavy flavor decays. We found that the $J/\Psi$ can contribute substantially to the yield at high $p_T$. PHENIX has also measured the spectrum of muons at forward rapidity from open heavy flavor decays in Cu+Cu collisions at $\sqrt{s_{NN}}$ = 200 GeV.Comment: To appear in the conference proceedings for Quark Matter 2009, March 30 - April 4, Knoxville, Tennesse

The statistics of critical points of Gaussian fields on large-dimensional spaces

We calculate the average number of critical points of a Gaussian field on a high-dimensional space as a function of their energy and their index. Our results give a complete picture of the organization of critical points and are of relevance to glassy and disordered systems, and to landscape scenarios coming from the anthropic approach to string theory.Comment: 5 page

Radiatively Induced Lorentz and CPT Violation in Electrodynamics

In a nonperturbative formulation, radiative corrections arising from Lorentz and CPT violation in the fermion sector induce a definite and nonzero Chern-Simons addition to the electromagnetic action. If instead a perturbative formulation is used, an infinite class of theories characterized by the value of the Chern-Simons coefficient emerges at the quantum level.Comment: 4 page

Effect of 1918 PB1-F2 Expression on Influenza A Virus Infection Kinetics

Relatively little is known about the viral factors contributing to the lethality of the 1918 pandemic, although its unparalleled virulence was likely due in part to the newly discovered PB1-F2 protein. This protein, while unnecessary for replication, increases apoptosis in monocytes, alters viral polymerase activity in vitro, enhances inflammation and increases secondary pneumonia in vivo. However, the effects the PB1-F2 protein have in vivo remain unclear. To address the mechanisms involved, we intranasally infected groups of mice with either influenza A virus PR8 or a genetically engineered virus that expresses the 1918 PB1-F2 protein on a PR8 background, PR8-PB1-F2(1918). Mice inoculated with PR8 had viral concentrations peaking at 72 hours, while those infected with PR8-PB1-F2(1918) reached peak concentrations earlier, 48 hours. Mice given PR8-PB1-F2(1918) also showed a faster decline in viral loads. We fit a mathematical model to these data to estimate parameter values. The model supports a higher viral production rate per cell and a higher infected cell death rate with the PR8-PB1-F2(1918) virus. We discuss the implications these mechanisms have during an infection with a virus expressing a virulent PB1-F2 on the possibility of a pandemic and on the importance of antiviral treatments

Chronic Fibrotic Changes in Experimental Pulmonary Embolization in the Rat Model

Comparative Medicine - OneHealth and Comparative Medicine Poster SessionIntroduction: Fat embolism, a subclinical event, occurs in many clinical settings, such as long bones fractures, liposuction and during cardiopulmonary bypass. Some cases, especially with trauma, result in fat embolism syndrome (FES), a serious manifestation of fat embolism. FES is reported to occur in 5-10% of major trauma cases and can produce profound respiratory problems that may culminate in adult respiratory distress syndrome (ARDS). Embolized fat is hydrolyzed by lipase into free fatty acids which have been shown by previous histological studies to be toxic to the lung. An animal model of fat embolism has been developed utilizing triolein given intravenously (i.v.) to rats. We hypothesized that i.v. triolein will produce histological changes in the lung that are similar to the changes seen in human FES. Methods: Following University animal care approval, unanesthetized Sprague Dawley rats (study n=13, control n=12) were injected with either triolein, 0.2 mL (study) or saline, 0.2 mL (control). Weights were recorded until necropsy at 3 weeks (n=13) and 6 weeks (n=12). Morphometric measurements were made on both H&E and fat-stained tissues from the lungs, heart, kidneys and spleen. All vessels were examined using high magnification fields. Arterial wall thickness (lumen patency) was calculated by vessel luminal and external diameters. The medial-adventitial ratio was calculated from the outer medial diameter divided by the outer adventitial diameter. These values were keyed into statistical software and analysis as a function of time and treatment was calculated using t-tests with significance noted at a p<0.05. Results: Gross pathological changes were seen in lung, heart, kidneys, liver and spleen of the triolein group. Pulmonary histological examination revealed diffuse intra-alveolar hemorrhages and edema with peri-bronchial inflammation. Vasculitis was more prominent in the peri-bronchial areas as well. Pulmonary arteries revealed significant medial thickening as compared with the control groups with lumen patency p=0.004. Adventitia/media ratio, with large variability in the triolein group, was not statistically significant. Conclusions: Our data showed that injected triolein remains in the rat lung after 3 and 6 weeks with associated vascular and septal damage in the lung tissue compared to controls. Discussion: This study is a continuation of our previous study showing an increase of severe pulmonary damage within 3-6 hours following triolein induced fat embolism in the rat, reaching a peak at 96 hrs post injection. Despite unmedicated recovery of general condition and body weight and reopening of the pulmonary arteries and arterioles, collagen and vasculitis persisted up to 6 weeks. Further studies are needed to verify the eventual recovery or the organ evolution toward chronic fibrosis

Tampering by office-based methadone maintenance patients with methadone take home privileges: a pilot study

Methadone Maintenance Treatment (MMT) is among the most widely studied treatments for opiate dependence with proven benefits for patients and society. When misused, however, methadone can also be lethal. The issue of methadone diversion is a major concern for all MMT programs. A potential source for such diversion is from those MMT patients who receive daily take home methadone doses. Using a reverse phase high performance liquid chromatography method, seven of the nine patients who were randomly selected to have all of their remaining methadone take home doses (within a 24 hour period) analyzed, returned lower than expected quantities of methadone. This finding suggests the possibility that such patients may have tampered with their daily take home doses. Larger prospective observational studies are clearly needed to test the supposition of this pilot study