Competition, Consumer Welfare, and the Social Cost of Monopoly

Conventional deadweight loss measures of the social cost of monopoly ignore, among other things, the social cost of inducing competition and thus cannot accurately capture the loss in social welfare. In this Article, we suggest an alternative method of measuring the social cost of monopoly. Using elements of general equilibrium theory, we propose a social cost metric where the benchmark is the Pareto optimal state of the economy that uses the least amount of resources, consistent with consumers' utility levels in the monopolized state. If the primary goal of antitrust policy is the enhancement of consumer welfare, then the proper benchmark is Pareto optimality, not simply competitive markets. We discuss the implications of our approach for antitrust law as well as how our methodology can be used in practice for allegations of monopoly power given a history of price-demand observations.Monopoly power, Antitrust economics, Applied general equilibrium

Evaluation of MHOST analysis capabilities for a plate element

Results of the evaluation of the static, buckling, and free vibration analyses capabilities of MHOST for the plate elements are presented. Two large scale, general purpose finite element codes (MARC and MSC/NASTRAN) are used to validate MHOST. Comparisons of MHOST results with those from MARC and MSC/NASTRAN show good agreement and indicate that MHOST can be used with confidence to perform the aforementioned analyses using the plate element

Duality of Quasilocal Black Hole Thermodynamics

We consider T-duality of the quasilocal black hole thermodynamics for the three-dimensional low energy effective string theory. Quasilocal thermodynamic variables in the first law are explicitly calculated on a general axisymmetric three-dimensional black hole solution and corresponding dual one. Physical meaning of the dual invariance of the black hole entropy is considered in terms of the Euclidean path integral formulation.Comment: 19 pages, Latex, no figures, to be published in Class. Quantum Grav. Some minor changes, references adde

Hybrid bounds for twisted L-functions

The aim of this paper is to derive bounds on the critical line Rs 1/2 for L- functions attached to twists f circle times chi of a primitive cusp form f of level N and a primitive character modulo q that break convexity simultaneously in the s and q aspects. If f has trivial nebentypus, it is shown that L(f circle times chi, s) << (N vertical bar s vertical bar q)(epsilon) N-4/5(vertical bar s vertical bar q)(1/2-1/40), where the implied constant depends only on epsilon > 0 and the archimedean parameter of f. To this end, two independent methods are employed to show L(f circle times chi, s) << (N vertical bar s vertical bar q)(epsilon) N-1/2 vertical bar S vertical bar(1/2)q(3/8) and L(g,s) << D-2/3 vertical bar S vertical bar(5/12) for any primitive cusp form g of level D and arbitrary nebentypus (not necessarily a twist f circle times chi of level D vertical bar Nq(2))

Competition, Consumer Welfare, and the Social Cost of Monopoly

Conventional deadweight loss measures of the social cost of monopoly ignore, among other things, the social cost of inducing competition and thus cannot accurately capture the loss in social welfare. In this Article, we suggest an alternative method of measuring the social cost of monopoly. Using elements of general equilibrium theory, we propose a social cost metric where the benchmark is the Pareto optimal state of the economy that uses the least amount of resources, consistent with consumers’ utility levels in the monopolized state. If the primary goal of antitrust policy is the enhancement of consumer welfare, then the proper benchmark is Pareto optimality, not simply competitive markets. We discuss the implications of our approach for antitrust law as well as how our methodology can be used in practice for allegations of monopoly power given a history of price-demand observations

Models of magnetized neutron star atmospheres: thin atmospheres and partially ionized hydrogen atmospheres with vacuum polarization

Observed X-ray spectra of some isolated magnetized neutron stars display absorption features, sometimes interpreted as ion cyclotron lines. Modeling the observed spectra is necessary to check this hypothesis and to evaluate neutron star parameters.We develop a computer code for modeling magnetized neutron star atmospheres in a wide range of magnetic fields (10^{12} - 10^{15} G) and effective temperatures (3 \times 10^5 - 10^7 K). Using this code, we study the possibilities to explain the soft X-ray spectra of isolated neutron stars by different atmosphere models. The atmosphere is assumed to consist either of fully ionized electron-ion plasmas or of partially ionized hydrogen. Vacuum resonance and partial mode conversion are taken into account. Any inclination of the magnetic field relative to the stellar surface is allowed. We use modern opacities of fully or partially ionized plasmas in strong magnetic fields and solve the coupled radiative transfer equations for the normal electromagnetic modes in the plasma. Spectra of outgoing radiation are calculated for various atmosphere models: fully ionized semi-infinite atmosphere, thin atmosphere, partially ionized hydrogen atmosphere, or novel "sandwich" atmosphere (thin atmosphere with a hydrogen layer above a helium layer. Possibilities of applications of these results are discussed. In particular, the outgoing spectrum using the "sandwich" model is constructed. Thin partially ionized hydrogen atmospheres with vacuum polarization are shown to be able to improve the fit to the observed spectrum of the nearby isolated neutron star RBS 1223 (RX J1308.8+2127).Comment: Accepted for publications in Astronomy and Astrophysics, 9 pages, 12 figure