Competition, Consumer Welfare, and the Social Cost of Monopoly

Conventional deadweight loss measures of the social cost of monopoly ignore, among other things, the social cost of inducing competition and thus cannot accurately capture the loss in social welfare. In this Article, we suggest an alternative method of measuring the social cost of monopoly. Using elements of general equilibrium theory, we propose a social cost metric where the benchmark is the Pareto optimal state of the economy that uses the least amount of resources, consistent with consumers' utility levels in the monopolized state. If the primary goal of antitrust policy is the enhancement of consumer welfare, then the proper benchmark is Pareto optimality, not simply competitive markets. We discuss the implications of our approach for antitrust law as well as how our methodology can be used in practice for allegations of monopoly power given a history of price-demand observations.Monopoly power, Antitrust economics, Applied general equilibrium

Competition, Consumer Welfare, and the Social Cost of Monopoly

Conventional deadweight loss measures of the social cost of monopoly ignore, among other things, the social cost of inducing competition and thus cannot accurately capture the loss in social welfare. In this Article, we suggest an alternative method of measuring the social cost of monopoly. Using elements of general equilibrium theory, we propose a social cost metric where the benchmark is the Pareto optimal state of the economy that uses the least amount of resources, consistent with consumers’ utility levels in the monopolized state. If the primary goal of antitrust policy is the enhancement of consumer welfare, then the proper benchmark is Pareto optimality, not simply competitive markets. We discuss the implications of our approach for antitrust law as well as how our methodology can be used in practice for allegations of monopoly power given a history of price-demand observations

Rotating Black Hole Entropy from Two Different Viewpoints

Using the brick-wall method, we study the entropy of Kerr-Newman black hole from two different viewpoints, a rest observer at infinity and zero angular momentum observer near horizon. We investigate this with scalar field in the canonical quantization approach. An observer at infinity can take one of the two possible frequency ranges; one is with positive frequencies only and the other is with the whole range including negative frequencies. On the other hand, a zero angular momentum observer near horizon can take positive frequencies only. For the observer at infinity the superradiant modes appear in either choice of the frequency ranges and the two results coincide. For the zero angular momentum observer superradiant modes do not appear due to absence of ergoregion. The resulting entropies from the two viewpoints turn out to be the same.Comment: LaTeX 18 pages, 2 figures, Minor modifications in section 3(ZAMO

Simple Scheme for Efficient Linear Optics Quantum Gates

We describe the construction of a conditional quantum control-not (CNOT) gate from linear optical elements following the program of Knill, Laflamme and Milburn [Nature {\bf 409}, 46 (2001)]. We show that the basic operation of this gate can be tested using current technology. We then simplify the scheme significantly.Comment: Problems with PDF figures correcte

Overcoming the roadblocks to cardiac cell therapy using tissue engineering

Transplantations of various stem cells or their progeny have repeatedly improved cardiac performance in animal models of myocardial injury; however, the benefits observed in clinical trials have been generally less consistent. Some of the recognized challenges are poor engraftment of implanted cells and, in the case of human cardiomyocytes, functional immaturity and lack of electrical integration, leading to limited contribution to the heart’s contractile activity and increased arrhythmogenic risks. Advances in tissue and genetic engineering techniques are expected to improve the survival and integration of transplanted cells, and to support structural, functional, and bioenergetic recovery of the recipient hearts. Specifically, application of a prefabricated cardiac tissue patch to prevent dilation and to improve pumping efficiency of the infarcted heart offers a promising strategy for making stem cell therapy a clinical reality. [Display omitted

Accelerated increase in the Arctic tropospheric warming events surpassing stratospheric warming events during winter

In January 2016, a robust reversal of the Arctic Oscillation (AO) took place associated with a rapid tropospheric warming in the Arctic region; this was followed by the occurrence of a classic sudden stratospheric warming in March-April. The succession of these two distinct Arctic warming events provides a stimulating opportunity to examine their characteristics in terms of similarities and differences. Historical cases of these two types of Arctic warming were identified and validated based upon tropical linkages with the Madden-Julian Oscillation and El Niño as well as those documented in previous studies. Our results indicate a recent and accelerated increase in the tropospheric warming type versus a flat trend in stratospheric warming type. The relatively shorter duration and rapid transition of tropospheric warming events suggest a link to the documented increase in midlatitude weather extremes during boreal winter. Forced simulations with an atmospheric general circulation model suggest that the reduced Arctic sea ice contributes to the observed increase in the tropospheric warming events and associated impact on the anomalously cold Siberia

Circular Kinks on the Surface of Granular Material Rotated in a Tilted Spinning Bucket

We find that circular kinks form on the surface of granular material when the axis of rotation is tilted more than the angle of internal friction of the material. Radius of the kinks is measured as a function of the spinning speed and the tilting angle. Stability consideration of the surface results in an explanation that the kink is a boundary between the inner unstable and outer stable regions. A simple cellular automata model also displays kinks at the stability boundary

UKIRT Widefield Infrared Survey for Fe+

The United Kingdom Infrared Telescope (UKIRT)Widefield Infrared Survey for Fe+ (UWIFE) is a 180 deg2 imaging survey of the first Galactic quadrant (7° < l < 62° |b| <1°.5) that uses a narrow-band filter centred on the [Fe II] 1.644-μm emission line. The [Fe II] 1.644-μm emission is a good tracer of dense, shock-excited gas, and the survey will probe violent environments around stars: star-forming regions, evolved stars, and supernova remnants, among others. The UWIFE survey is designed to complement the existing UKIRTW idefield Infrared Survey for H2 (UWISH2). The survey will also complement existing broad-band surveys. The observed images have a nominal 5Ï? detection limit of 18.7 mag for point sources, with a median seeing of 0.83 arcsec. For extended sources, we estimate a surface brightness limit of 8.1 Ã? 10-20 W m-2 arcsec-2. In this paper, we present an overview and some preliminary results of this survey. © 2014 The Authors Published by Oxford University Press on behalf of the Royal Astronomical Society

Modelling control of Schistosoma haematobium infection: predictions of the long-term impact of mass drug administration in Africa.

BACKGROUND: Effective control of schistosomiasis remains a challenging problem for endemic areas of the world. Given knowledge of the biology of transmission and past experience with mass drug administration (MDA) programs, it is important to critically evaluate the likelihood that MDA programs will achieve substantial reductions in Schistosoma prevalence. In implementing the World Health Organization Roadmap for Neglected Tropical Diseases it would useful for policymaking to model projections of the status of Schistosoma control in MDA-treated areas in the next 5-10 years. METHODS: Calibrated mathematical models were used to project the effects of different frequency and coverage of MDA for schistosomiasis haematobia control in present-day endemic communities, taking into account uncertainties of parasite biology and input data. The modeling approach in this analysis was the Stratified Worm Burden model developed in our earlier works, calibrated using data from longitudinal S. haematobium control trials in Kenya. RESULTS: Model-based simulations of MDA control in typical low-risk and higher-risk communities indicated that infection prevalence can be substantially reduced within 10 years only when there is a high degree of community participation (>70 %) with at least annual MDA. Significant risk for re-emergence of infection remains if MDA is suspended. CONCLUSIONS: In a stable (stationary) ecosystem, Schistosoma reproduction and transmission are sufficiently robust that the process of human infection continues, even under pressure from aggressive MDA. MDA alone is unlikely to interrupt transmission, and once mass treatment is suspended, the prevalence of human infection is likely to rebound to pre-control levels over a period of 25-30 years. MDA success in achieving very low levels of infection prevalence is highly dependent on treatment coverage and frequency within the local human population, and requires that both adults and children be included in drug delivery coverage. Ultimately, supplemental snail control and significant improvements in sanitation will be required to achieve full control of schistosomiasis by elimination of ongoing Schistosoma transmission