Anti-Trust and Economic Theory: Some Observations from the US Experience

Recent developments in US anti-trust can be characterised as reflecting the uneasy interaction of two quite separate phenomena: first, the increased emphasis on economic analysis as the overriding organising principle of anti-trust policy and on economic efficiency as the primary (perhaps only) relevant goal for anti-trust; second, the long-standing reluctance of the federal judiciary to involve itself in any substantive economic analysis, and the preference, instead, for simple rules of thumb or ‘pigeon holes’ to sort out lawful from unlawful conduct. The result has been that while economics has played a major role, it has not influenced American anti-trust as thoroughly or as uniformly as might have been imagined; rather the extent and the nature of its influence have depended on the degree to which the relevant economics could be reduced to the kind of simple rules or pigeon holes that the judiciary favours. The present paper will illustrate that theme, first by reporting on the two developments separately and then by illustrating their joint influence with reference to two important areas of American anti-trust: predatory conduct and so-called vertical restraints. Finally, a contrast will be made between judicial development in those two areas and recent American merger policy which, it is argued, is carried out largely independently of the judiciary, and hence the opportunities for economics to influence the process are less inhibited by the judicial reluctance to undertake extensive economic analysis

Harmonic generation in ring-shaped molecules

We study numerically the interaction between an intense circularly polarized laser field and an electron moving in a potential which has a discrete cylindrical symmetry with respect to the laser pulse propagation direction. This setup serves as a simple model, e.g., for benzene and other aromatic compounds. From general symmetry considerations, within a Floquet approach, selection rules for the harmonic generation [O. Alon Phys. Rev. Lett. 80 3743 (1998)] have been derived recently. Instead, the results we present in this paper have been obtained solving the time-dependent Schroedinger equation ab initio for realistic pulse shapes. We find a rich structure which is not always dominated by the laser harmonics.Comment: 15 pages including 7 figure

Four-directional stereo-microscopy for 3D particle tracking with real-time error evaluation

High-speed video stereo-microscopy relies on illumination from two distinct angles to create two views of a sample from different directions. The 3D trajectory of a microscopic object can then be reconstructed using parallax to combine 2D measurements of its position in each image. In this work, we evaluate the accuracy of 3D particle tracking using this technique, by extending the number of views from two to four directions. This allows us to record two independent sets of measurements of the 3D coordinates of tracked objects, and comparison of these enables measurement and minimisation of the tracking error in all dimensions. We demonstrate the method by tracking the motion of an optically trapped microsphere of 5 μm in diameter, and find an accuracy of 2–5 nm laterally, and 5–10 nm axially, representing a relative error of less than 2.5% of its range of motion in each dimension

Late Miocene to early Pliocene stratigraphic record in northern Taranaki Basin: Condensed sedimentation ahead of Northern Graben extension and progradation of the modern continental margin

The middle Pliocene-Pleistocene progradation of the Giant Foresets Formation in Taranaki Basin built up the modern continental margin offshore from western North Island. The late Miocene to early Pliocene interval preceding this progradation was characterised in northern Taranaki Basin by the accumulation of hemipelagic mudstone (Manganui Formation), volcaniclastic sediments (Mohakatino Formation), and marl (Ariki Formation), all at bathyal depths. The Manganui Formation has generally featureless wireline log signatures and moderate to low amplitude seismic reflection characteristics. Mohakatino Formation is characterised by a sharp decrease in the GR log value at its base, a blocky GR log motif reflecting sandstone packets, and erratic resistivity logs. Seismic profiles show bold laterally continuous reflectors. The Ariki Formation has a distinctive barrel-shaped to blocky GR log motif. This signature is mirrored by the SP log and often by an increase in resistivity values through this interval. The Ariki Formation comprises (calcareous) marl made up of abundant planktic foraminifera, is 109 m thick in Ariki-1, and accumulated over parts of the Western Stable Platform and beneath the fill of the Northern Graben. It indicates condensed sedimentation reflecting the distance of the northern region from the contemporary continental margin to the south

Scattering length of the ground state Mg+Mg collision

We have constructed the X 1SIGMAg+ potential for the collision between two ground state Mg atoms and analyzed the effect of uncertainties in the shape of the potential on scattering properties at ultra-cold temperatures. This potential reproduces the experimental term values to 0.2 inverse cm and has a scattering length of +1.4(5) nm where the error is prodominantly due to the uncertainty in the dissociation energy and the C6 dispersion coefficient. A positive sign of the scattering length suggests that a Bose-Einstein condensate of ground state Mg atoms is stable.Comment: 15 pages, 3 figures, Submitted Phys. Rev.

The links between prenatal stress and offspring development and psychopathology: disentangling environmental and inherited influences

Background. Exposure to prenatal stress is associated with later adverse health and adjustment outcomes. This is generally presumed to arise through early environmentally mediated programming effects on the foetus. However, associations could arise through factors that influence mothers’ characteristics and behaviour during pregnancy which are inherited by offspring. Method. A ‘ prenatal cross-fostering ’ design where pregnant mothers are related or unrelated to their child as a result of in vitro fertilization (IVF) was used to disentangle maternally inherited and environmental influences. If links between prenatal stress and offspring outcome are environmental, association should be observed in unrelated as well as related mother–child pairs. Offspring birth weight and gestational age as well as mental health were the outcomes assessed. Results. Associations between prenatal stress and offspring birth weight, gestational age and antisocial behaviour were seen in both related and unrelated mother–offspring pairs, consistent with there being environmental links. The association between prenatal stress and offspring anxiety in related and unrelated groups appeared to be due to current maternal anxiety/depression rather than prenatal stress. In contrast, the link between prenatal stress and offspring attention deficit hyperactivity disorder was only present in related mother–offspring pairs and therefore was attributable to inherited factors. Conclusions. Genetically informative designs can be helpful in testing whether inherited factors contribute to the association between environmental risk factors and health outcomes. These results suggest that associations between prenatal stress and offspring outcomes could arise from inherited factors and post-natal environmental factors in addition to causal prenatal risk effects