The Effects of Consumer Protection on Sales Signs, Consumer Search and Competition

Within a one-shot, duopoly game, we show that firms cannot use false in- store price comparisons to deter rational consumers from further beneficial price search in an effort to create market power. However, by introducing a consumer protection authority that monitors price comparisons, we formalise Nelson’s (1974) conjecture by showing that ‘middle-order’ monitoring can actually facilitate the deception of fully rational consumers, to deter them from otherwise optimal search. Despite this effect, we show that no increase in monitoring can ever harm consumers due to a second, larger effect that improves consumer information and increases the intensity of price competition.Comparative Price Advertising, Deception, Obfuscation, Cheap Talk

How Far Does Economic Theory Explain Competitive Nonlinear Pricing in Practice?

Liberalisation of the British electricity market, in which previously monopolised regional markets were exposed to large-scale entry, is used to test the propositions of several recent theoretical papers on oligopolistic nonlinear pricing. Consistent with those theories, each oligopolist offered a single two-part electricity tariff, and a lump sum discount to consumers who purchased both electricity and gas. However, inconsistent with those theories, firms’ two-part tariffs are heterogeneous in ways that cannot be attributed to cost. We establish a series of stylised facts about the nature of these asymmetries between firms and use them to confront established theory

Irrationality in Consumers’ Switching Decisions: When More Firms May Mean Less Benefit

We report evidence of three types of consumer switching decision errors within the UK electricity market. We identify consumers who do not switch despite substantial available savings, consumers who switch from a cheaper to a more expensive supplier and consumers who switch to a cheaper, but not the cheapest available supplier. Moreover, we find that consumers make more efficient decisions in markets with fewer competitors. This finding is consistent with theories of consumer confusion and “information-overload” rather than other “rational” explanations of consumer mistakes such as perceived differences in firm quality or uncertainty over consumers’ own demand.Consumer choice, Switching costs, Behavioural IO

How does marriage affect physical and psychological health? A survey of the longitudinal evidence

This paper examines an accumulating modern literature on the health benefits of relationships like marriage. Although much remains to be understood about physiological channels, we draw the judgement, after looking across many journals and disciplines, that there is persuasive longitudinal evidence for such effects. The size of the health gain from marriage is remarkable. It may be as large as the benefit from giving up smoking

Barriers to specialist palliative care in interstitial lung disease: a systematic review

Background: Current guidelines recommend palliative care based on individual needs for patients with idiopathic pulmonary fibrosis. However, patients with interstitial lung disease (ILD) are less likely to receive specialist palliative care services compared with patients with malignant disease. The aim of this review is to summarise recent studies addressing barriers to referring patients to specialist palliative care services. Methods: PubMed, Embase, Medline and Web of Science were reviewed to identify relevant publications. Studies were selected if they examined the frequency of specialist palliative care referral and/or addressed issues surrounding access to palliative care services for patients with ILD. Results: Ten studies with a total of 4073 people with ILD, 27 caregivers and 18 healthcare professionals were selected and analysed. Frequency of palliative care referrals ranged from 0% to 38%. Delay in palliative care referrals and end-of-life decisions, patients' fear of talking about the future, prognostic uncertainty and confusion about the roles of palliative care were identified as barriers to accessing palliative care services. Conclusion: Further research should concentrate on the early identification of patients who need specialist palliative care possibly with establishment of criteria to trigger referral ensuring that referrals are also based on patient's needs

Market Frictions: A Unified Model of Search and Switching Costs

Despite the existence of two vast literatures, very little is known about the potential differences or interactions between search and switching costs. This paper demonstrates the benefits of examining the two frictions in unison. First, the paper shows how subtle distinctions between the two costs can provide important differences in their effects upon consumer behaviour and market prices. In many cases, policymakers may prefer to reduce search costs rather than switching costs. Second, the paper illustrates a simple methodology for estimating the magnitude of both costs while demonstrating the potential bias that can arise from a single-cost approach

Market frictions: A unified model of search and switching costs

It is well known that search costs and switching costs can create market power by constraining the ability of consumers to change suppliers. While previous research has examined each cost in isolation, this paper demonstrates the benefits of examining the two types of friction in unison. The paper shows how subtle distinctions between the two costs can provide important differences in their effects upon consumer behaviour, competition and welfare. In addition, the paper also illustrates a simple empirical methodology for estimating measures of both costs while demonstrating the potential bias that can arise in approaches that consider only one cost

Multimodal Approach for Assessing Neuromotor Coordination in Schizophrenia Using Convolutional Neural Networks

This study investigates the speech articulatory coordination in schizophrenia subjects exhibiting strong positive symptoms (e.g. hallucinations and delusions), using two distinct channel-delay correlation methods. We show that the schizophrenic subjects with strong positive symptoms and who are markedly ill pose complex articulatory coordination pattern in facial and speech gestures than what is observed in healthy subjects. This distinction in speech coordination pattern is used to train a multimodal convolutional neural network (CNN) which uses video and audio data during speech to distinguish schizophrenic patients with strong positive symptoms from healthy subjects. We also show that the vocal tract variables (TVs) which correspond to place of articulation and glottal source outperform the Mel-frequency Cepstral Coefficients (MFCCs) when fused with Facial Action Units (FAUs) in the proposed multimodal network. For the clinical dataset we collected, our best performing multimodal network improves the mean F1 score for detecting schizophrenia by around 18% with respect to the full vocal tract coordination (FVTC) baseline method implemented with fusing FAUs and MFCCs.Comment: 5 pages. arXiv admin note: text overlap with arXiv:2102.0705

Molecular Hydrogen and Paschen-alpha Emission in Cooling Flow Galaxies

We present near-infrared spectra obtained to search for Pa-alpha and molecular hydrogen lines in edge-darkened (FR I-type) radio galaxies with bright Halpha emission in the redshift range 0.0535<z<0.15. We find that all three galaxies in our sample (PKS 0745-191, PKS 1346+26, & PKS2322-12) which are associated with strong cooling flows also have strong Pa-alpha and H_2 (1-0) S(1) through S(5) emission, while other radio galaxies do not. Together with earlier observations this confirms claims that cooling flow galaxies are copious emitters of molecular hydrogen with large H_2 (1-0) S(3)/Pa-alpha ratios in the range 0.5 to 2. The emission is centrally concentrated within the inner few kiloparsec and could come from warm (T ~ 1000-1500 K) molecular material which is being deposited by the cooling flow. We speculate that the H_2 emission could be related to the interaction between the jets and this molecular gas.Comment: ApJ Letters, in press, AAS LaTex, preprint also available at http://www.astro.umd.edu/~hfalcke/publications.html#nirga