207,041 research outputs found

    Prominence and consumer search

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    This paper examines the implications of “prominence” in search markets. We model prominence by supposing that the prominent firm will be sampled first by all consumers. If there are no systematic quality differences among firms, we find that the prominent firm will charge a lower price than its non-prominent rivals. The impact of making a firm prominent is that it will typically lead to higher industry profit but lower consumer surplus and welfare. The model is extended by introducing heterogeneous product qualities, in which case the firm with the highest-quality product has the greatest incentive to become prominent, and making it prominent will boost industry profit, consumer surplus and welfare

    In Litigation: How Far do the "Haves" Come Out Ahead?

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    This paper studies the consequences of asymmetric litigation costs. Under three differ- ent protocols: static legal process, dynamic legal process with exogenous sequencing and dynamic legal process with endogenous sequencing, solutions are obtained for the litigation efforts and the expected value of lawsuits on each side. Outcomes are evaluated in terms of two normative criteria: achieving `justice' and minimizing aggregate litigation cost. The theory implies that a moderate degree of asymmetry may improve access to justice. The dynamics of legal process may accentuate or diminish the effect of asymmetry. The en- dogenous sequencing protocol minimizes cost and may improve access to justice.access to justice;endogenous sequencing;dynamics of litigation process;re- source dissipation

    In Litigation: How Far do the “Haves” Come Out Ahead

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    This paper studies the consequences of asymmetric litigation costs. Under three differ- ent protocols: static legal process, dynamic legal process with exogenous sequencing and dynamic legal process with endogenous sequencing, solutions are obtained for the litigation efforts and the expected value of lawsuits on each side. Outcomes are evaluated in terms of two normative criteria: achieving `justice' and minimizing aggregate litigation cost. The theory implies that a moderate degree of asymmetry may improve access to justice. The dynamics of legal process may accentuate or diminish the effect of asymmetry. The en- dogenous sequencing protocol minimizes cost and may improve access to justice.access to justice;endogenous sequencing;dynamics of litigation process;re- source dissipation.

    Filling polygonal holes with bicubic patches

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    Consider a bicubic rectangular patch complex which surrounds an n-sided hole in R3. Then the problem of filling the hole with n bicubic rectangular patches is studied

    The weighted v-spline as a double knot B-spline

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    The local support basis representation of the ‘weighted v-spline’ is derived in terms of double knot cubic B-splines, so providing a convenient form for computing and analysing the representation

    Convexity of Bẻzier nets on sub-triangles

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    This note generalizes a result of Goodman[3], where it is shown that the convexity of Bèzier nets defined on a base triangle is preserved on sub-triangles obtained from a mid-point subdivision process. Here we show that the convexity of Bèzier nets is preserved on and only on sub-triangles that are "parallel" to the base triangle
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