Competition Policy in Small Distant Open Economies: Some Lessons from the Economics Literature

New Zealand is a small open economy that is remote from all major markets. The smallness and remoteness of New Zealand combine to imply that this country has, at least quantitatively, distinctive features for the regulation of economic activity by competition law. The isolation and small size of the economy mean that typically all but exporting firms are small as judged on a world scale, and that domestic markets are small and generally highly concentrated. This paper reviews the economic literature on the implications of an economy’s size and isolation for competition law. The literature suggests that principles underlying competition law do not change for small economies, but that the application of competition law should be different. In small economies, low regulatory and tax barriers to trade dominate the importance of competition law for good economic performance of domestic markets. In these economies, competition law should focus on economic benefit/detriment evaluations of mergers and trade practices rather than rules of thumb of the sort based on measures of market structure and indicators of competition, or those aimed at prohibiting particular practices per se. Producers’ surplus should not be de-emphasised in the calculation of benefits and detriments in small economies; particularly for activities that relate in any way to (potential) export activity. For any economy, particularly in the presence of competition, cooperation enhances economic performance in specific circumstances. In small economies cooperation can be particularly efficient-for example, in achieving scale and thereby export performance-although it may entail interaction among a large fraction of players in an industry. The approach that the literature suggests to the application of competition law in small economies places relatively heavy weight on dynamic efficiency as the criterion for competition law design and enforcement. It is squarely in accord with recommendations in the literature on desirable competition law for the so-called new economy.Small; Isolated; Economy; Antitrust; New Zealand; Producer Surplus: Consumer Surplus; Competition Law; Economic Benefit; Economic Detriment; Rule of Reason

Personality Profiles of Iditasport Ultra-marathon Participants

Each February, competitors convene in Big Lake, Alaska, to participate in the “Iditasport Human Powered Ultra-Marathon”. Who would attempt this challenging race? Personality might be one factor predicting participation. Iditasport represents a unique athletic event with a distinctive social and psychological climate that might be reflected in the personalities of the participants in many ways. This study was designed to identify the personality profile of Iditasport athletes when compared to normative populations and to explore differences between athletes competing in different race divisions

Traverses, delays and fatalities at railway level crossings in Great Britain

This paper investigates relationships between traverses, delays and fatalities to road users at railway level crossings in Great Britain. A 'traverse' means a passage across a level crossing by a road user, who may be a pedestrian, cyclist, or occupant of a road vehicle. The paper finds that the road users with the highest fatality rate per traverse are pedestrians at passive crossings. Their rate is about three orders of magnitude higher than that of users with the lowest risk, who are road vehicle occupants at railway-controlled crossings. The paper considers the choice between automatic and railway-controlled crossings on public roads. Railway-controlled crossings are widely used in Britain. They are about one order of magnitude safer than automatic crossings, but they impose greater delays on users. A formula is developed to give the overall delay to road users at either type of crossing in terms of the numbers of road users and trains per day, and in terms of the length of time that the crossing must be closed to the road to allow the passage of one train. It is found that automatic level crossings cause substantially less delay than railway-controlled level crossings. The official monetary values of road user delay and of preventing a fatality were used to estimate the valuations of delays and fatalities at hypothetical but representative automatic and railway-controlled crossings. These valuations were then used to explore the effect of replacing representative railway-controlled with automatic crossings or vice-versa. It is found that the valuation of the reduced delays from adopting automatic crossings typically outweighs the valuation of the losses from the increased casualties. However, in practice Britain has chosen to retain a large number of railway-controlled crossings, which implies accepting the delays in return for a good level crossing safety record. Finally, an analysis is carried out to determine the additional risk of typical car and walk journeys that involve traversing a level crossing compared with similar journeys that do not. It is found that the additional risk is small for motor vehicle journeys, but substantial for walk journeys

Liquid drops on a surface: using density functional theory to calculate the binding potential and drop profiles and comparing with results from mesoscopic modelling

The contribution to the free energy for a film of liquid of thickness $h$ on a solid surface, due to the interactions between the solid-liquid and liquid-gas interfaces is given by the binding potential, $g(h)$. The precise form of $g(h)$ determines whether or not the liquid wets the surface. Note that differentiating $g(h)$ gives the Derjaguin or disjoining pressure. We develop a microscopic density functional theory (DFT) based method for calculating $g(h)$, allowing us to relate the form of $g(h)$ to the nature of the molecular interactions in the system. We present results based on using a simple lattice gas model, to demonstrate the procedure. In order to describe the static and dynamic behaviour of non-uniform liquid films and drops on surfaces, a mesoscopic free energy based on $g(h)$ is often used. We calculate such equilibrium film height profiles and also directly calculate using DFT the corresponding density profiles for liquid drops on surfaces. Comparing quantities such as the contact angle and also the shape of the drops, we find good agreement between the two methods. We also study in detail the effect on $g(h)$ of truncating the range of the dispersion forces, both those between the fluid molecules and those between the fluid and wall. We find that truncating can have a significant effect on $g(h)$ and the associated wetting behaviour of the fluid.Comment: 16 pages, 13 fig

Low-Cost QCM Sensor System for Screening Semen Samples

Artificial insemination is a well-established part of modern agricultural practice. A viable semen sample is judged by the total number of spermatozoa (sperm) in the sample and the motility of the sperm. In this paper, we report the development of a reusable measurement cell and electronics for screening semen samples based on the Quartz Crystal Microbalance (QCM) and Universal Frequency to Digital Converter (UFDC-1) to produce a low-cost sensor system. After introducing the semen sample at one end of the measurement cell, sperm swim down a channel before causing a frequency change on the QCM. Data is presented that shows the different frequency changes using a commercial frequency counter caused by porcine semen samples, one two days old and one twenty one days old. Similar data is presented for a motile semen sample measurement using the low-cost UFDC-1

Low-Cost QCM Sensor System for Screening Semen Samples

Artificial insemination is a well-established part of modern agricultural practice. A viable semen sample is judged by the total number of spermatozoa (sperm) in the sample and the motility of the sperm. In this paper, we report the development of a reusable measurement cell and electronics for screening semen samples based on the Quartz Crystal Microbalance (QCM) and Universal Frequency to Digital Converter (UFDC-1) to produce a low-cost sensor system. After introducing the semen sample at one end of the measurement cell, sperm swim down a channel before causing a frequency change on the QCM. Data is presented that shows the different frequency changes using a commercial frequency counter caused by porcine semen samples, one two days old and one twenty one days old. Similar data is presented for a motile semen sample measurement using the low-cost UFDC-1