Innovation Preannouncement and Entry in a Vertically Differentiated Industry

When considering the preannouncement of the market introduction of a newly developed, durable good, an innovative firm faces a trade-off. By announcing early, the firm can prevent the loss of potential demand before the launch of its product. At the same time, the incumbent firm learns about the market introduction and has the opportunity to take preemptive actions against the innovative firm. This analysis shows under which industry conditions an innovative firm can be expected to preannounce its product launch into a vertically differentiated industry. Welfare considerations indicate that consumers would not necessarily be better off if the information about future product generations would be common knowledge and that there might even be situations in which they would prefer product preannouncements to be banned completely.

Testing the impact of diagenesis on the delta O-18 and delta C-13 of benthic foraminiferal calcite from a sediment burial depth transect in the equatorial Pacific

Stable oxygen and carbon isotope (δ18O and δ13C) values measured in foraminiferal calcite are one of the primary tools used in paleoceanography. Diagenetic recrystallisation of foraminiferal calcite can act to reset primary isotopic values but its effects are typically poorly quantified. Here we test the impact of early stage diagenesis on stable isotope records generated from a suite of drill sites in the equatorial Pacific Ocean recovered during Ocean Drilling Program (ODP) Leg 199 and Integrated Ocean Drilling Program (IODP) Expedition 320. Our selected sites form paleowater- and burial-depth transects, with excellent stratigraphic control allowing us to confidently correlate our records. We observe large inter-site differences in the preservation state of benthic foraminiferal calcite, implying very different recrystallisation histories, but negligible inter-site offsets in benthic δ18O and δ13C values. We infer that diagenetic alteration of benthic foraminiferal calcite (in sedimentary oozes) must predominantly occur at shallow burial depths (<100 m) where offsets in both the temperature and isotopic composition of waters in which the foraminifera calcified and pore-waters in which diagenesis occurs are small. Our results suggest that even extensive recrystallisation of benthic foraminiferal calcite results in minimal shifts from primary δ18O and δ13C values. This finding supports the long-held suspicion that diagenetic alteration of foraminiferal calcite is less problematic in benthic than in planktic foraminifera and that in deep–sea sediments routinely employed for palaeoceanographic studies benthic foraminifera are robust recorders of stable isotope values in the fossil record

Labor Pooling in R&D Intensive Industries

We investigate firms’ incentives to locate in the same region to gain access to a large pool of skilled labor. Firms engage in risky R&D activities and thus create stochastic product and implied labor demand. Agglomeration in a cluster is more likely in situations where the innovation step is large and the probability for a firm to be the only innovator is high. When firms cluster, they tend to invest more and take more risk in R&D compared to spatially dispersed firms. Agglomeration is welfare maximizing, because expected labor productivity is higher and firms choose a more efficient, technically diversified portfolio of R&D projects at the industry level.

Transcriptional and posttranscriptional regulation of human androgen receptor expression by androgen.

Autoregulation is a control mechanism common to several proteins of the steroid/thyroid hormone receptor superfamily. In this work the effect of androgens and antiandrogens on the expression of the human androgen receptor (hAR) in prostate and breast cancer cell lines was studied. Northern blot analysis revealed a decrease in hAR steady state RNA levels in LNCaP cells by 3.3 nht of the synthetic androgen mibolerone. Maximal down-regulation of hAR RNA to 30% of control levels occurred 48 h after hormone addition. T47D breast cancer cells showed a similar effect with mibolerone, while hAR expression in normal skin fibroblasts did not respond to androgen treatment. As shown by nuclease Sl analysis, hAR transcripts initiate at three principal start sites, all of which are equally sensitive to androgen. Steroidal as well as nonsteroidal antiandrogens were capable of partially antagonizing androgen-mediated hAR RNA down-regulation in LNCaP and T47D cells, while not exerting a significant effect when administered alone. While hAR RNA stability was increased by hormone, nuclear run-on analysis revealed a 4-fold reduction of hAR gene transcrip tion 98 h after androgen treatment. Although decreased hAR RNA levels did not coincide with a parallel decrease in AR protein levels, analysis of androgen-inducible reporter constructs demonstrated that prolonged androgen administration to ceils results in a progressively impaired sensitivity of the intracellular androgen response mechanism. These results show that prolonged androgen exposure leads, besides its effect on hAR RNA levels, to functional inactivation of the AR. Thus, in viva, posttranslational control of AR activity appears to be a novel mechanism of negative autoregulation of androgen effects on gene expression