Antitrust and Regulating Big Data

The collection of user data online has seen enormous growth in recent years. Consumers have benefited from this growth through an increase in free or heavily subsidized services, better quality offerings, and rapid innovation. At the same time, the debate about Big Data, and what it really means for consumers and competition, has grown louder. Many have focused on whether Big Data even presents an antitrust issue, and whether and how harms resulting from Big Data should be analyzed and remedied under the antitrust laws. The academic literature, however, has somewhat lagged behind the policy debate, and a closer inspection of existing scholarly works reveals a dearth of thorough study of the issue.Commentators generally are split into two camps: one in favor of more proactive antitrust enforcement in the Big Data realm, and one opposing such intervention, considering antitrust inappropriate for regulation of Big Data. The academic case for the former has not, as yet, been fully developed, and is relatively light at present. Meanwhile, policy-focused work by academics and practitioners in this arena suggests that antitrust intervention in Big Data would be premature and misguided, especially considering the myriad pro-competitive benefits offered by Big Data.This article reviews the scholarly work on the implications of Big Data on competition, and considers the potential role of antitrust in the regulation of Big Data. Part I provides an overview of the scarce, academic literature specifically addressing the role of antitrust in Big Data issues. Parts II and III delve into the policy issues surrounding Big Data and whether it poses a risk to competition that warrants antitrust intervention. Part II details the ways in which Big Data may prove pro-competitive while Part III reviews and critiques the suggested potential harms to competition from Big Data. Part IV discusses the suitability of antitrust as the institutional choice for Big Data issues, and Part V concludes that, at present, antitrust is ill suited as the institutional choice. Further, the scholarly case for such harm has not yet been adequately established. Overall, this Article finds much noise as to potential “problems” around whether current antitrust tools and policy are adequate to deal with a Big Data “challenge.” In reality, there is no challenge at all, as the arguments for antitrust intervention when Big Data has come up as an issue have never carried the day for any merger or decided conduct case in any Department of Justice Antitrust Division (“DOJ”), Federal Trade Commission (“FTC”) or Directorate-General for Competition (“DG Competition”) to date

Constitutional change and inequality in Scotland

What scope does a sub-national economy have to affect the level of inequality? Does a policy menu consistent with the theories of fiscal federalism provide for an ability to affect inequality measures, or does this ability require the powers of a nation state? In this paper we discuss these questions in the context of the debate around the Scottish independence referendum, in which inequality has played a prominent role, and ask whether independence, further devolution, or simply different policies under the current constitutional framework are capable of helping Scotland transition to a less unequal income distribution. We provide a series of estimates of the impact of different policy choices upon inequality in Scotland, and discuss inequality reduction in the context of different constitutional options

Accounting for decarbonisation and reducing capital at risk in the S&P500

This document is the Accepted Manuscript version of the following article: Colin Haslam, Nick Tsitsianis, Glen Lehman, Tord Andersson, and John Malamatenios, ‘Accounting for decarbonisation and reducing capital at risk in the S&P500’, Accounting Forum, Vol. 42 91): 119-129, March 2018. Under embargo until 7 August 2019. The final, definitive version is available online at doi: https://doi.org/10.1016/j.accfor.2018.01.004.This article accounts for carbon emissions in the S&P 500 and explores the extent to which capital is at risk from decarbonising value chains. At a global level it is proving difficult to decouple carbon emissions from GDP growth. Top-down legal and regulatory arrangements envisaged by the Kyoto Protocol are practically redundant given inconsistent political commitment to mitigating global climate change and promoting sustainability. The United Nations Environment Programme (UNEP) and European Commission (EC) are promoting the role of financial markets and financial institutions as drivers of behavioural change mobilising capital allocations to decarbonise corporate activity.Peer reviewe

The Stellar Halos of Massive Elliptical Galaxies II: Detailed Abundance Ratios at Large Radius

We study the radial dependence in stellar populations of 33 nearby early-type galaxies with central stellar velocity dispersions sigma* > 150 km/s. We measure stellar population properties in composite spectra, and use ratios of these composites to highlight the largest spectral changes as a function of radius. Based on stellar population modeling, the typical star at 2 R_e is old (~10 Gyr), relatively metal poor ([Fe/H] -0.5), and alpha-enhanced ([Mg/Fe]~0.3). The stars were made rapidly at z~1.5-2 in shallow potential wells. Declining radial gradients in [C/Fe], which follow [Fe/H], also arise from rapid star formation timescales due to declining carbon yields from low-metallicity massive stars. In contrast, [N/Fe] remains high at large radius. Stars at large radius have different abundance ratio patterns from stars in the center of any present-day galaxy, but are similar to Milky Way thick disk stars. Our observations are thus consistent with a picture in which the stellar outskirts are built up through minor mergers with disky galaxies whose star formation is truncated early (z~1.5-2).Comment: ApJ in press, 12 pages, 6 figure

Linking Environmental Sustainability and Healthcare: The Effects of an Energy Saving Intervention in Two Hospitals

Set in a real organisational setting, this study examines the challenges of implementing environmentally sustainable behaviour in healthcare. It evaluates the success of a real energy saving behaviour change intervention, based on social marketing principles, which targeted the employees of two National Health Service (NHS) hospitals. It also explores the intervention benefits for three key stakeholders: the organisation/hospitals, hospital employees and patients. A rich secondary dataset containing actual workplace behaviour measures (collected via observations) and self-reported data from employee interviews and patient questionnaires is used for this purpose. The intervention encouraged three employee energy saving actions (called TLC actions): (1) Turn off machines, (2) Lights out when not needed, and (3) Close doors when possible; which led to energy savings and carbon reduction for the two hospitals. Hospital employees reported a greater level of work efficiency as a result of engaging in TLC actions, which increased the 'quiet time' periods in both hospitals. Indirectly, employees' TLC actions also improved patients' quality of sleep (which in turn is positively associated with greater patient hospital experience satisfaction). These findings shed light on the benefits of social marketing interventions targeting energy saving behaviour change for multiple stakeholders in healthcare organisations. They also illustrate connections between environmental sustainability and social and political pillars of corporate social responsibility. Additionally, organisational culture was highlighted as a key challenge in changing practices. To encourage long-term sustainable behaviour, this study recommends a pre-intervention assessment of infrastructure and equipment, the communication of expected benefits to motivate higher involvement of employees, the need for internal green champions and the dissemination of post-intervention feedback on various energy saving and patient indicators

A Search for Binary Active Galactic Nuclei: Double-Peaked [OIII] AGN in the Sloan Digital Sky Survey

We present AGN from the Sloan Digital Sky Survey (SDSS) having double-peaked profiles of [OIII] 5007,4959 and other narrow emission-lines, motivated by the prospect of finding candidate binary AGN. These objects were identified by means of a visual examination of 21,592 quasars at z < 0.7 in SDSS Data Release 7 (DR7). Of the spectra with adequate signal-to-noise, 148 spectra exhibit a double-peaked [OIII] profile. Of these, 86 are Type 1 AGN and 62 are Type 2 AGN. Only two give the appearance of possibly being optically resolved double AGN in the SDSS images, but many show close companions or signs of recent interaction. Radio-detected quasars are three times more likely to exhibit a double-peaked [OIII] profile than quasars with no detected radio flux, suggesting a role for jet interactions in producing the double-peaked profiles. Of the 66 broad line (Type 1) AGN that are undetected in the FIRST survey, 0.9% show double peaked [OIII] profiles. We discuss statistical tests of the nature of the double-peaked objects. Further study is needed to determine which of them are binary AGN rather than disturbed narrow line regions, and how many additional binaries may remain undetected because of insufficient line-of-sight velocity splitting. Previous studies indicate that 0.1% of SDSS quasars are spatially resolved binaries, with typical spacings of ~10 to 100 kpc. If a substantial fraction of the double-peaked objects are indeed binaries, then our results imply that binaries occur more frequently at smaller separations (< 10 kpc). This suggests that simultaneous fueling of both black holes is more common as the binary orbit decays through these spacings.Comment: 33 pages, 5 figures, LaTeX. Major revisions. Accepted for publication in ApJ

Rings of Dark Matter in Collisions Between Clusters of Galaxies

Several lines of evidence suggest that the galaxy cluster Cl0024+17, an apparently relaxed system, is actually a collision of two clusters, the interaction occurring along our line of sight. Recent lensing observations suggest the presence of a ring-like dark matter structure, which has been interpreted as the result of such a collision. In this paper we present $N$-body simulations of cluster collisions along the line of sight to investigate the detectability of such features. We use realistic dark matter density profiles as determined from cosmological simulations. Our simulations show a "shoulder" in the dark matter distribution after the collision, but no ring feature even when the initial particle velocity distribution is highly tangentially anisotropic ($\sigma_\theta/\sigma_r >> 1$). Only when the initial particle velocity distribution is circular do our simulations show such a feature. Even modestly anisotropic velocity distributions are inconsistent with the halo velocity distributions seen in cosmological simulations, and would require highly fine-tuned initial conditions. Our investigation leaves us without an explanation for the dark matter ring-like feature in Cl 0024+17 suggested by lensing observations.Comment: 7 pages (emulateapj), 9 figures. Expanded figures and text to match accepted versio

Investigating the evolution of the dual AGN system ESO~509-IG066

We analyze the evolution of the dual AGN in ESO 509-IG066, a galaxy pair located at z=0.034 whose nuclei are separated by 11 kpc. Previous observations with XMM-Newton on this dual AGN found evidence for two moderately obscured ($N_H\sim10^{22}$ cm$^{-2}$) X-ray luminous ($L_X\sim10^{43}$ erg/s) nuclear sources. We present an analysis of subsequent Chandra, NuSTAR and Swift/XRT observations that show one source has dropped in flux by a factor of 10 between 2004 and 2011, which could be explained by either an increase in the absorbing column or an intrinsic fading of the central engine possibly due to a decrease in mass accretion. Both of these scenarios are predicted by galaxy merger simulations. The source which has dropped in flux is not detected by NuSTAR, which argues against absorption, unless it is extreme. However, new Keck/LRIS optical spectroscopy reveals a previously unreported broad H-alpha line which is highly unlikely to be visible under the extreme absorption scenario. We therefore conclude that the black hole in this nucleus has undergone a dramatic drop in accretion rate. From AO-assisted near-infrared integral-field spectroscopy of the other nucleus, we find evidence that the galaxy merger is having a direct effect on the kinematics of the gas close to the nucleus of the galaxy, providing a direct observational link between the galaxy merger and the mass accretion rate on to the black hole.Comment: Accepted for publication in Ap