On the welfare impact of mergers of complements: Raising rivals' costs versus elimination of double marginalization

Abstract A common view in antitrust analysis is that mergers of complements can have raising rivals' costs and elimination of double marginalization effects, with the net effect on consumer welfare thus unclear. We revise this view in the context of a merger between a monopolist in one market and a duopoly producer of a complement good. With linear demand and imperfect substitutability, while such a merger increases the price of the monopolized component, elimination of double marginalization dominates any raising rivals' costs effects, increasing consumer welfare. We discuss a variety of extensions

Effect of ABCG2/BCRP Expression on Efflux and Uptake of Gefitinib in NSCLC Cell Lines

BCRP/ABCG2 emerged as an important multidrug resistance protein, because it confers resistance to several classes of cancer chemotherapeutic agents and to a number of novel molecularly-targeted therapeutics such as tyrosine kinase inhibitors. Gefitinib is an orally active, selective EGFR tyrosine kinase inhibitor used in the treatment of patients with advanced non small cell lung cancer (NSCLC) carrying activating EGFR mutations. Membrane transporters may affect the distribution and accumulation of gefitinib in tumour cells; in particular a reduced intracellular level of the drug may result from poor uptake, enhanced efflux or increased metabolism

Transethnic meta-analysis of rare coding variants in PLCG2, ABI3, and TREM2 supports their general contribution to Alzheimer’s disease

Rare coding variants in TREM2, PLCG2, and ABI3 were recently associated with the susceptibility to Alzheimer’s disease (AD) in Caucasians. Frequencies and AD-associated effects of variants differ across ethnicities. To start filling the gap on AD genetics in South America and assess the impact of these variants across ethnicity, we studied these variants in Argentinian population in association with ancestry. TREM2 (rs143332484 and rs75932628), PLCG2 (rs72824905), and ABI3 (rs616338) were genotyped in 419 AD cases and 486 controls. Meta-analysis with European population was performed. Ancestry was estimated from genome-wide genotyping results. All variants show similar frequencies and odds ratios to those previously reported. Their association with AD reach statistical significance by meta-analysis. Although the Argentinian population is an admixture, variant carriers presented mainly Caucasian ancestry. Rare coding variants in TREM2, PLCG2, and ABI3 also modulate susceptibility to AD in populations from Argentina, and they may have a European heritage.International Society for Neurochemistry (ISN) and Alexander von Humboldt Foundation (to M.C.D.); Agencia Nacional de Promoción Científica y Tecnológica (PBIT/09 2013, PICT2015-0285 and PICT-2016-4647 to L.M.; PICT-2014-1537 to M.C.D.

Convergent genetic and expression data implicate immunity in Alzheimer's disease

Background Late–onset Alzheimer's disease (AD) is heritable with 20 genes showing genome wide association in the International Genomics of Alzheimer's Project (IGAP). To identify the biology underlying the disease we extended these genetic data in a pathway analysis. Methods The ALIGATOR and GSEA algorithms were used in the IGAP data to identify associated functional pathways and correlated gene expression networks in human brain. Results ALIGATOR identified an excess of curated biological pathways showing enrichment of association. Enriched areas of biology included the immune response (p = 3.27×10-12 after multiple testing correction for pathways), regulation of endocytosis (p = 1.31×10-11), cholesterol transport (p = 2.96 × 10-9) and proteasome-ubiquitin activity (p = 1.34×10-6). Correlated gene expression analysis identified four significant network modules, all related to the immune response (corrected p 0.002 – 0.05). Conclusions The immune response, regulation of endocytosis, cholesterol transport and protein ubiquitination represent prime targets for AD therapeutics

Vertical contracts in petrol retailing : incentives and risk-sharing: OIES paper: M19

The purpose of this paper is to describe the variety of contractual arrangements in use in the UK petrol industry between refiners/wholesalers and their retailers, and assess their respective properties. Section 2 provides a brief account of the evolution of the main contractual options over the past two decades, emphasizing both the process of dynamic change which characterized the choice of organizational form, and the competitive element in such choice (i.e. how changes by one company appear to set in motion a process of adjustment by other companies). The profile of each contract type is outlined in Section 3; the main differences across types are then analysed in an agency framework, with emphasis on the risk-sharing and the incentive properties – explicit and implicit – of each format (Sections 4 and 5)

The role and behaviour of oil inventories

The purposes of this paper are to explain the economics of inventory behaviour, to describe and analyse the changes in oil inventories since the beginning of the Gulf crisis, and to discuss issues of public policies relating to stocks. In Section 2 we emphasize the different economic function performed by inventories in times of crisis, when increased uncertainty and larger variance of expectations tend to increase desired inventory levels. Section 3 describes the evolution of petroleum inventories over the course of the 1980s, arguing that the drive to reduce product holdings especially over the decade has reduced their buffer role and therefore increased the vulnerability of the supply system when refining capacity is stretched. Section 4 evaluates the available evidence on stockholding behaviour since last August, focusing on the different pattern that emerged in three major areas: the USA, Europe and Japan. Finally, Section 5 addresses the issue of public policies and discusses the motivations and performance of the major institutional players (EC, IEA, DOE) in the context of the current crisis

The role and behaviour of oil inventories: OIES paper: GWO4

The purposes of this paper are to explain the economics of inventory behaviour, to describe and analyse the changes in oil inventories since the beginning of the Gulf crisis, and to discuss issues of public policies relating to stocks. In Section 2 we emphasize the different economic function performed by inventories in times of crisis, when increased uncertainty and larger variance of expectations tend to increase desired inventory levels. Section 3 describes the evolution of petroleum inventories over the course of the 1980s, arguing that the drive to reduce product holdings especially over the decade has reduced their buffer role and therefore increased the vulnerability of the supply system when refining capacity is stretched. Section 4 evaluates the available evidence on stockholding behaviour since last August, focusing on the different pattern that emerged in three major areas: the USA, Europe and Japan. Finally, Section 5 addresses the issue of public policies and discusses the motivations and performance of the major institutional players (EC, IEA, DOE) in the context of the current crisis

Vertical contracts in petrol retailing : incentives and risk-sharing

The purpose of this paper is to describe the variety of contractual arrangements in use in the UK petrol industry between refiners/wholesalers and their retailers, and assess their respective properties. Section 2 provides a brief account of the evolution of the main contractual options over the past two decades, emphasizing both the process of dynamic change which characterized the choice of organizational form, and the competitive element in such choice (i.e. how changes by one company appear to set in motion a process of adjustment by other companies). The profile of each contract type is outlined in Section 3; the main differences across types are then analysed in an agency framework, with emphasis on the risk-sharing and the incentive properties – explicit and implicit – of each format (Sections 4 and 5)