Two-Dimensional Product Differentiation Under Duopoly: An Application to Product and Service Reliability

Under oligopoly firms are often observed to specialise their production, with some firms producing highly reliable output and offering good warranty deals, while others produce less reliable output and offer less attractive warranties, but charge a lower price. This paper develops an approach to product/service reliability which provides an alternative to the conventional analysis based on the characteristics approach. The model of this paper defines reliability as the objective probability of product failure, not as a characteristic of individual goods. Reliability, thus defined, is treated as a choice variable of the firm, and consumers’ preferences are partially endogenised. This approach to reliability is incorporated into a duopoly model which explains the phenomenon of specialisation described above. The model is applicable to the markets for consumer durables, some intermediate goods and some services.Reliability, duopoly.

A Model of Endogenous Quality Management

This paper is concerned with product quality, defined as a kind of durability. Existing models of product quality (in the sense considered here) depend on the idea of signalling, itself driven by an informational asymmetry dictated by “Nature”. The paper proposes an alternative approach, which endogenises the quality managment process. A model is developed which is applicable to the markets for consumer durables and for some intermediate goods. Both competitive and monopolistic markets are considered, and some comparative static results are obtained.

Stability of Growth Models with Generalised Lag Structures

This paper considers the lag structures of dynamic models in economics, arguing that the standard approach is too simple to capture the complexity of actual lag structures arising, for example, from production and investment decisions. It is argued that recent (1990s) developments in the the theory of functional differential equations provide a means to analyse models with generalised lag structures. The stability and asymptotic stability of two growth models with generalised lag structures are analysed. The paper concludes with some speculative discussion of time-varying parameters.

High- and low-pressure pneumotachometers measure respiration rates accurately in adverse environments

Respiration-rate transducers in the form of pneumotachometers measure respiration rates of pilots operating high performance research aircraft. In each low pressure or high pressure oxygen system a sensor is placed in series with the pilots oxygen supply line to detect gas flow accompanying respiration

Endoscopic measurements using a panoramic annular lens

The objective of this project was to design, build, demonstrate, and deliver a prototype system for making measurements within cavities. The system was to utilize structured lighting as the means for making measurements and was to rely on a stationary probe, equipped with a unique panoramic annular lens, to capture a cylindrical view of the illuminated cavity. Panoramic images, acquired with a digitizing camera and stored in a desk top computer, were to be linearized and analyzed by mouse-driven interactive software

Money and inflation in a nonlinear model

A nonlinear model of inflation and growth, with a fixed rate of money growth, is developed and its global dynamics analysed. These are compared with the local, linearised dynamics of the model. It is shown that the global dynamics of the model plausibly predict hyperinflationary bubbles, which are not present in the linearised version. Numerical simulations of the model are presented.Money, inflation, nonlinearity.

Endoscopic inspection using a panoramic annular lens

The objective of this one year study was to design, build, and demonstrate a prototype system for cavity inspection. A cylindrical view of the cavity interior was captured in real time through a compound lens system consisting of a unique panoramic annular lens and a collector lens. Images, acquired with a digitizing camera and stored in a desktop computer, were manipulated using image processing software to aid in visual inspection and qualitative analysis. A detailed description of the lens and its applications is given

Cancerphobia: Electromagnetic Fields and Their Impact on Residential Loan Values

This article provides a matrix representation of the adjustment grid estimator. From this representation, one can invoke the Gauss-Mrkov theorem to examine the efficiency of ordinary least squares (OLS) and the grid estimator that uses OLS estimates of the adjustments (the "plug-in" grid method). In addition, this matrix representation suggests a generalized least squares version of the grid method, labeled herin as the total grid estimator. Based on the empirical experiments, the total grid estimator outperformed the plug-in grid estimator, which in turn outperformed the OLS.

Functional traits of expanding, thicket-forming shrubs: contrasting strategies between exotic and native species

Woody expansion has been documented for decades in many different systems globally, often yielding vast changes in ecosystem functioning. While causes and consequences of woody expansion have been well documented, few studies have addressed plant functional traits that promote dramatic and rapid expansion in range. Our objectives were to investigate plant functional traits that contribute to the colonization, rapid expansion, and thicket formation of an invasive, N-fixing shrub, Elaeagnus umbellata Thunb. (Elaeagnaceae), and a native, N-fixing shrub Morella cerifera (L.) Small (Myricaceae) and compare to native, sympatric, non-expanding shrub species. Quantified functional traits included morphological (e.g., specific leaf area, leaf area) and physiological characteristics (e.g., electron transport rate, hydraulic conductivity) and were linked to two primary resources: light and water, which directly influence plant growth. Elaeagnus umbellata and M. cerifera rely on different strategies to maximize carbon gain, yet resulting physiological efficiency is similar. Elaeagnus umbellata invests a substantial amount of energy into growth during a short amount of time (i.e., deciduous growing season), using an acquisitive trait strategy to outcompete co-occurring woody species, while M. cerifera is productive year-round and uses a combination of conservative and acquisitive traits to outcompete co-occurring woody species. The majority of quantified functional traits of E. umbellata and several of M. cerifera are indicative of efficient light capture, utilization, and internal water movement. These factors contribute to rapid range expansion and thicket formation by promoting enhanced productivity while simultaneously inhibiting colonization and expansion of co-occurring species. Suites of functional traits are important for expansive success and thicket formation, yet differences in functional traits represent alternative strategies for colonization, rapid expansion, and thicketization