Why Are Prices Sticky? The Dynamics of Wholesale Gasoline Prices

The menu-cost interpretation of sticky prices implies that the probability of a price change should depend on the past history of prices and fundamentals only through the gap between the current price and the frictionless price. We find that this prediction is broadly consistent with the behavior of 9 Philadelphia gasoline wholesalers. We nevertheless reject the menu-cost model as a literal description of these firms' behavior, arguing instead that price stickiness arises from strategic considerations of how customers and competitors will react to price changes.

The1997 Scottish referendum : an analysis of the Scottish referendum

Referendums are rare events in the United Kingdom. Only one UK-wide referendum has been held - on membership of the European Community (as it then was) in 1975 - and before 1997 there had been only three other significant referendums: in 1973, in Northern Ireland, on the constitutional position of the province, and in 1979, in Scotland and Wales, on proposals for devolution. Thus the scarcity of cases available for study in itself makes the 1997 referendum on a Scottish parliament worthy of close attention. In addition, however, the fact that Scottish voters were asked to vote on, not one, but two questions - whether or not they were in favour of a Scottish parliament and whether such a parliament should have tax-varying powers - made the Scottish referendum unique among the (admittedly few) referendums that have been held in Britain

Experience with abstract notation one

The development of computer science has produced a vast number of machine architectures, programming languages, and compiler technologies. The cross product of these three characteristics defines the spectrum of previous and present data representation methodologies. With regard to computer networks, the uniqueness of these methodologies presents an obstacle when disparate host environments are to be interconnected. Interoperability within a heterogeneous network relies upon the establishment of data representation commonality. The International Standards Organization (ISO) is currently developing the abstract syntax notation one standard (ASN.1) and the basic encoding rules standard (BER) that collectively address this problem. When used within the presentation layer of the open systems interconnection reference model, these two standards provide the data representation commonality required to facilitate interoperability. The details of a compiler that was built to automate the use of ASN.1 and BER are described. From this experience, insights into both standards are given and potential problems relating to this development effort are discussed

Analysis of non-premixed turbulent reacting flows

Studies of chemical reactions occurring in turbulent flows are important in the understanding of combustion and other applications. Current numerical methods are limited in their applications due to the numerical resolution required to completely capture all length scales, but, despite the fact that realistic combustion cannot be solved completely, numerical simulations can be used to give insight into the interaction between the processes of turbulence and chemical reaction. The objective was to investigate the effects of turbulent motion on the effects of chemical reaction to gain some insight on the interaction of turbulence, molecular diffusion, and chemical reaction to support modeling efforts. A direct turbulence simulation spectral code was modified to include the effects of chemical reaction and applied to an initial value problem of chemical reaction between non-premixed species. The influence of hydrodynamics on the instantaneous structure of the reaction was investigated. The local scalar dissipation rates and the local reaction rates were examined to determine the influence of vorticity or rate of strain on the reaction and the structure of the scalar field

Observations of the Vertical Structure of Tidal Currents in Two Inlets

Observations of the vertical structure of broad band tidal currents were obtained at two energetic inlets. Each experiment took place over a 4 week period, the first at Hampton Inlet in southeastern New Hampshire, USA, in the Fall of 2011, and the second at New River Inlet in southern North Carolina, USA, in the spring of 2012. The temporal variation and vertical structure of the currents were observed at each site with 600 kHz and 1200 kHz RDI Acoustic Doppler Current Profilers (ADCP) deployed on low-profile bottom tripods in 7.5 and 12.5 m water depths near the entrance to Hampton Inlet, and in 8 and 9 m water depth within and outside New River Inlet, respectively. In addition, a Nortek Aquapro ADCP was mounted on a jetted pipe in about 2.5 m water depth on the flank of the each inlet channel. Flows within the Hampton/Seabrook Inlet were dominated by semi-diurnal tides ranging 2.5 - 4 m in elevation, with velocities exceeding 2.5 m/s. Flows within New River inlet were also semi-diurnal with tides ranging about 1 – 1.5 m in elevation and with velocities exceeding 1.5 m/s. Vertical variation in the flow structure at the dominant tidal frequency are examined as a function of location within and near the inlet. Outside the inlet, velocities vary strongly over the vertical, with a nearly linear decay from the surface to near the bottom. The coherence between the upper most velocity bin and the successively vertically separated bins drops off quickly with depth, with as much as 50% coherence decay over the water column. The phase relative to the uppermost velocity bin shifts over depth, with as much as 40 deg phase lag over the vertical, with bottom velocities leading the surface. Offshore, rotary coefficients indicate a stable ellipse orientation with rotational directions consistent over the vertical. At Hampton, the shallower ADCP, but still outside the inlet, shows a rotational structure that changes sign in the vertical indicating a sense of rotation at the bottom that is opposite to that at the surface. Within the inlet, the flow is more aligned with the channel, the decay in amplitude over the vertical is diminished, the coherence and phase structure is nearly uniform, and the rotary coefficients indicate no sense of rotation in the flow. The observations are qualitatively consistent with behavior described by Prandle (1982) for shallow water tidal flows

Budding and Domain Shape Transformations in Mixed Lipid Films and Bilayer Membranes

We study the stability and shapes of domains with spontaneous curvature in fluid films and membranes, embedded in a surrounding membrane with zero spontaneous curvature. These domains can result from the inclusion of an impurity in a fluid membrane, or from phase separation within the membrane. We show that for small but finite line and surface tensions and for finite spontaneous curvatures, an equilibrium phase of protruding circular domains is obtained at low impurity concentrations. At higher concentrations, we predict a transition from circular domains, or "caplets", to stripes. In both cases, we calculate the shapes of these domains within the Monge representation for the membrane shape. With increasing line tension, we show numerically that there is a budding transformation from stable protruding circular domains to spherical buds. We calculate the full phase diagram, and demonstrate a two triple points, of respectively bud-flat-caplet and flat-stripe-caplet coexistence.Comment: 14 pages, to appear in Phys Rev

Characteristics of Waterfowl Harvest at Horseshoe Lake, Madison County, Illinois

Division of Wildlife Resources Migratory Bird Section, Periodic Report No. 13Report issued on: April 21, 197

An evaluation of the pressure proof test concept for thin sheet 2024-T3

The concept of pressure proof testing of fuselage structures with fatigue cracks to insure structural integrity was evaluated from a fracture mechanics viewpoint. A generic analytical and experimental investigation was conducted on uniaxially loaded flat panels with crack configurations and stress levels typical of longitudinal lap splice joints in commercial transport aircraft fuselages. The results revealed that the remaining fatigue life after a proof test was longer than that without the proof test because of crack growth retardation due to increased crack closure. However, based on a crack length that is slightly less than the critical value at the maximum proof test stress, the minimum assured life or proof test interval must be no more than 550 pressure cycles for a 1.33 proof factor and 1530 pressure cycles for a 1.5 proof factor to prevent in-flight failures