Are Sunk Costs A Barrier To Entry?

The received wisdom is that sunk costs create a barrier to entry if entry fails, then the entrant, unable to recover sunk costs, incurs greater losses. In a strategic context where an incumbent may prey on the entrant, sunk entry costs have a countervailing effect: they may effectively commit the entrant to stay in the market. By providing the entrant with commitment power, sunk investments may soften the reactions of incumbents. The net effect may imply that entry is more profitable when sunk costs are greater

Drivers of redistribution of fishing and non-fishing effort after the implementation of a marine protected area network

Marine spatial planning (MSP) is increasingly utilized to sustainably manage ocean uses. Marine protected areas (MPAs), a form of spatial management in which parts of the ocean are regulated to fishing, are now a common tool in MSP for conserving marine biodiversity and managing fisheries. However, the use of MPAs in MSP often neglects, or simplifies, the redistribution of fishing and non-fishing activities inside and outside of MPAs following their implementation. This redistribution of effort can have important implications for effective MSP. Using long-term (14 yr) aerial surveys of boats at the California Channel Islands, we examined the spatial redistribution of fishing and non-fishing activities and their drivers following MPA establishment. Our data represent 6 yr of information before the implementation of an MPA network and 8 yr after implementation. Different types of boats responded in different ways to the closures, ranging from behaviors by commercial dive boats that support the hypothesis of fishing-the-line, to behaviors by urchin, sport fishing, and recreational boats that support the theory of ideal free distribution. Additionally, we found that boats engaged in recreational activities targeted areas that are sheltered from large waves and located near their home ports, while boats engaged in fishing activities also avoided high wave areas but were not constrained by the distance to their home ports. We did not observe the expected pattern of effort concentration near MPA borders for some boat types; this can be explained by the habitat preference of certain activities (for some activities, the desired habitat attributes are not inside the MPAs), species’ biology (species such as urchins where the MPA benefit would likely come from larval export rather than adult spillover), or policy-infraction avoidance. The diversity of boat responses reveals variance from the usual simplified assumption that all extractive boats respond similarly to MPA establishment. Our work is the first empirical study to analyze the response of both commercial and recreational boats to closure. Our results will inform MSP in better accounting for effort redistribution by ocean users in response to the implementation of MPAs and other closures

Are Sunk Costs A Barrier To Entry?

The received wisdom is that sunk costs create a barrier to entry if entry fails, then the entrant, unable to recover sunk costs, incurs greater losses. In a strategic context where an incumbent may prey on the entrant, sunk entry costs have a countervailing effect: they may effectively commit the entrant to stay in the market. By providing the entrant with commitment power, sunk investments may soften the reactions of incumbents. The net effect may imply that entry is more profitable when sunk costs are greater

Colheita, beneficiamento e armazenamento de sementes de pimenta longa (Piper hispidinervium).

A identificação da pimenta longa (Piper hispidinervum) no estado do Acre, por meio do Programa de Triagem de Plantas Aromáticas da Amazônia vem despertando, nos últimos seis anos, grande interesse por parte dos produtores e empresas nacionais de internacionais, processadoras de óleos essenciais ricos em safrol. O objetivo desta publicação é fornecer informações sobre a produção de sementes, bem como sua conservação, para que possam manter um bom padrão de qualidade.bitstream/CPAF-AC/3641/1/it20.pd

Electromagnetic Form Factors of a Massive Neutrino

Electromagnetic form factors of a massive neutrino are studied in a minimally extended standard model in an arbitrary $R_{\xi}$ gauge and taking into account the dependence on the masses of all interacting particles. The contribution from all Feynman diagrams to the charge, magnetic, and anapole form factors, in which the dependence on the masses of all particles as well as on gauge parameters is accounted for exactly, are obtained for the first time in explicit form. The asymptotic behavior of the magnetic form factor for large negative squares of the momentum of an external photon is analyzed and expression for the anapole moment of a massive neutrino is derived. The results are generalized to the case of mixing between various generations of the neutrino. Explicit expressions are obtained for the charge, magnetic, and electric dipole and anapole transition form factors as well as for the transition electric dipole moment.Comment: 16 pares with 5 figures in pdf forma

Increasing Dominance - the Role of Advertising, Pricing and Product Design

Despite the empirical relevance of advertising strategies in concentrated markets, the economics literature is largely silent on the effect of persuasive advertising strategies on pricing, market structure and increasing (or decreasing) dominance. In a simple model of persuasive advertising and pricing with differentiated goods, we analyze the interdependencies between ex-ante asymmetries in consumer appeal, advertising and prices. Products with larger initial appeal to consumers will be advertised more heavily but priced at a higher level - that is, advertising and price discounts are strategic substitutes for products with asymmetric initial appeal. We find that the escalating effect of advertising dominates the moderating effect of pricing so that post-competition market shares are more asymmetric than pre-competition differences in consumer appeal. We further find that collusive advertising (but competitive pricing) generates the same market outcomes, and that network effects lead to even more extreme market outcomes, both directly and via the effect on advertising