109 research outputs found
Foreclosure in contests
We consider a contest in which one firm is a favourite as it initially has a cost advantage over rivals. Instead of taking the set of rivals as given, we consider the possibility that the favourite transfers the source of its advantage wholly or partially to a subset of rival firms. The result of this may be foreclosure of those firms that do not receive the cost reduction. We present conditions under which this transfer will be expected to occur, and show that the dominant firm will prefer to grant some rivals the maximum cost reduction even if a partial transfer can be made. Furthermore we consider the welfare properties of excluding some rivals. Applications include lobbying, patent races and access to essential infrastructure.Foreclosure; contest
Current-induced noise and damping in non-uniform ferromagnets
In the presence of spatial variation of the magnetization direction, electric
current noise causes a fluctuating spin-transfer torque that increases the
fluctuations of the ferromagnetic order parameter. By the
fluctuation-dissipation theorem, the equilibrium fluctuations are related to
the magnetization damping, which in non-uniform ferromagnets acquires a
nonlocal tensor structure. In biased ferromagnets, shot noise can become the
dominant contribution to the magnetization noise at low temperatures.
Considering spin spirals as a simple example, we show that the current-induced
noise and damping is significant.Comment: 5 pages, 1 figur
Access regulation and the transition from copper to fiber networks in telecoms
In this paper we study the impact of different forms of access obligations on firms' incentives to migrate from the legacy copper network to ultra-fast broadband infrastructures. We analyze three different kinds of regulatory interventions: geographical regulation of access to copper networks-where access prices are differentiated depending on whether or not an alternative fiber network has been deployed; access obligations on fiber networks and its interplay with wholesale copper prices; and, finally, a mandatory switch-off of the legacy copper network-to foster the transition to the higher quality fiber networks. Trading-off the different static and dynamic goals, the paper provides guidelines and suggestions for policy makers' decision
Spin Seebeck insulator
Thermoelectric generation is an essential function of future energy-saving
technologies. However, this generation has been an exclusive feature of
electric conductors, a situation which inflicts a heavy toll on its
application; a conduction electron often becomes a nuisance in thermal design
of devices. Here we report electric-voltage generation from heat flowing in an
insulator. We reveal that, despite the absence of conduction electrons, a
magnetic insulator LaY2Fe5O12 converts a heat flow into spin voltage. Attached
Pt films transform this spin voltage into electric voltage by the inverse spin
Hall effect. The experimental results require us to introduce thermally
activated interface spin exchange between LaY2Fe5O12 and Pt. Our findings
extend the range of potential materials for thermoelectric applications and
provide a crucial piece of information for understanding the physics of the
spin Seebeck effect.Comment: 19 pages, 5 figures (including supplementary information
Vertical integration, market foreclosure and quality investment
We study incentives to vertically integrate in an industry with verti- cally differentiated downstream firms. Vertical integration by one of the firms increases production costs for the rival. Increased production costs negatively affects quality investment both by the integrated firm and the unintegrated rival. Quality investment by both firms decreases under any (vertical inte- gration) scenario. The decrease in quality invesment by both firms softens competition among downstream firms. By integrating first, a firm always produces the high quality good and earns higher profits. A fully integrated industry, with increased product differentiation, is observed in equilibrium. Due to increase in firm profits, social welfare under this structure is greater than under no integration.info:eu-repo/semantics/publishedVersio
Spin Caloritronics
This is a brief overview of the state of the art of spin caloritronics, the
science and technology of controlling heat currents by the electron spin degree
of freedom (and vice versa).Comment: To be published in "Spin Current", edited by S. Maekawa, E. Saitoh,
S. Valenzuela and Y. Kimura, Oxford University Pres
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