‘Guaranteed lowest prices: do they facilitate collusion?’: Revisited

We examine the effect of guaranteed lowest price clauses (G.L.P.). First, we correct the proof of Logan and Lutter’s main result that it is the unique equilibrium outcome for firms adopting G.L.P. to charge collusive prices in a simultaneous pricing game, if one uses the trembling-hand perfect equilibrium as the solution concept. Second, we extend their argument to a sequential pricing game in which one firm chooses its price before the other, given that both firms adopt G.L.P. We show that collusive prices is the unique equilibrium outcome in this game even without resorting to any stringent refinement like the trembling-hand perfect equilibrium

Strategic delegation and second mover advantage in duopoly

We consider a duopoly in which each firm has one owner and one manager playing a multi-stage delegation game. The decision of each firm consists of two stages. In the first stage, the owner offers his manager a contract based on profits and sales. In the second stage, the manager chooses its output or price. Several possible sequential games will be analysed, depending on the sequence of the strategic variables. In the first scenario in which firm 1 makes a contract decision and a producing decision sequentially, and firm 2 follows in the same fashion, we show that any delegation equilibrium in which both owners commit their managers to profit-maximising behaviour disappears. In the second scenario in which the firms first enter into the contract stage and then Stackelberg competition follows in the second stage, sales-based delegation occurs. If firms compete in quantities, second mover advantage appears if firms make simultaneous delegation contracts, while first mover advantage is recovered if they make sequential contracts. If firms compete in prices, the results are reversed

Analysis of truckload prices and rejection rates

Thesis (M. Eng. in Logistics)--Massachusetts Institute of Technology, Engineering Systems Division, 2013.Cataloged from PDF version of thesis.Includes bibliographical references (p. 60).Truckload (TL) is the principle mode of freight transportation in the United Sates. Buyers of TL services are shippers with significant amount of shipments throughout a year. Due to the complexity of their network and the large expenditure on transportation, shippers select their carriers through auctions and using optimization methods, and enter into long-term contracts with winners with the best prices. Shippers subsequently request their carriers to fulfill shipment every time there's a load, a procedure called 'tender'. Despite the sophisticated selection and the existence of contracts, shippers' tenders are frequently rejected by their carriers, a phenomenon called tender rejection. When this happens, the shipper has to find alternative carriers and most of the time the price for the load increases. With weekly rejection rate as a dependent variable, and with variability of volume, length of haul, or the differential in prices as independent variables, this research mainly used the linear regression method to examine how well these independent variables account for rejections for a given lane. The analysis used the data including TL shipment and tender records of 17 shippers for five years. This research also attempted to discover any geographic patterns of frequent rejections. The analysis of the relationship between truckload rates and rejection rates suggested a potential trade-off between price and rejection, which questions the generally accepted strategy of shippers minimizing truckload expenditures by unconditionally reducing rejections.by Yoo Joon Kim.M.Eng.in Logistic

The Impact of Overactive Bladder on Health-Related Quality of Life, Sexual Life and Psychological Health in Korea

Purpose We aimed to estimate the prevalence of overactive bladder (OAB) in Korea, to assess the variation in prevalence by sex and age, and to measure the impact of OAB on quality of life. Methods A population-based, cross-sectional telephone survey was conducted between April and June 2010 with a questionnaire regarding the prevalence of OAB, demographics, and the impact of OAB on quality of life. A geographically stratified random sample of men and women aged ≥30 years was selected. Results The overall prevalence of OAB was 22.9% (male, 19%; female, 26.8%). Of a total of 458 participants with OAB, 37.6% and 19.9% reported moderate or severe impact on their daily life and sexual life (5.6% and 3.5%, respectively, in participants without OAB). Anxiety and depression were reported by 22.7% and 39.3% of participants with OAB, respectively (9.7% and 22.8%, respectively, in participants without OAB). Only 19.7% of participants with OAB had consulted a doctor for their voiding symptoms, but 50.7% of respondents with OAB were willing to visit a hospital for the management of their OAB symptoms. Conclusions This study confirmed that OAB symptoms are highly prevalent in Korea, and many sufferers appear to have actively sought medical help. OAB has severe effects on daily and sexual life as well as psychological health

Bucillamine prevents cisplatin-induced ototoxicity through induction of glutathione and antioxidant genes.

Bucillamine is used for the treatment of rheumatoid arthritis. This study investigated the protective effects of bucillamine against cisplatin-induced damage in auditory cells, the organ of Corti from postnatal rats (P2) and adult Balb/C mice. Cisplatin increases the catalytic activity of caspase-3 and caspase-8 proteases and the production of free radicals, which were significantly suppressed by pretreatment with bucillamine. Bucillamine induces the intranuclear translocation of Nrf2 and thereby increases the expression of γ-glutamylcysteine synthetase (γ-GCS) and glutathione synthetase (GSS), which further induces intracellular antioxidant glutathione (GSH), heme oxygenase 1 (HO-1) and superoxide dismutase 2 (SOD2). However, knockdown studies of HO-1 and SOD2 suggest that the protective effect of bucillamine against cisplatin is independent of the enzymatic activity of HO-1 and SOD. Furthermore, pretreatment with bucillamine protects sensory hair cells on organ of Corti explants from cisplatin-induced cytotoxicity concomitantly with inhibition of caspase-3 activation. The auditory-brainstem-evoked response of cisplatin-injected mice shows marked increases in hearing threshold shifts, which was markedly suppressed by pretreatment with bucillamine in vivo. Taken together, bucillamine protects sensory hair cells from cisplatin through a scavenging effect on itself, as well as the induction of intracellular GSH

CT Evidence for Subchondral Trabecular Injury of the Femoral Head in Transient Osteoporosis of the Hip: A Case Report

A 28-yr-old woman presented with both hip pain that started sequentially during the peripartum period. Diagnosis of transient osteoporosis of the hip (TOH) was made based on typical findings of plain radiographs and magnetic resonance images. The subchondral trabeculae of the femoral head were evaluated on serially taken coronal multiplanar reformation computerized tomogram images. At 4 weeks after pain onset, marked decrease in the sclerotic density with irregular discontinuation was observed in the primary compression trabeculae. At 12 weeks, a focal area of irregular thickening of trabeculae was observed. At 20 weeks, sclerotic density of trabeculae recovered markedly and the focal area of irregular trabecular thickening disappeared. At 1 yr, subchondral trabeculae recovered almost completely. The evidence of subchondral trabecular injury was observed in the femoral heads of TOH

Inhibition of Hypoxic Pulmonary Vasoconstriction of Rats by Carbon Monoxide

Hypoxic pulmonary vasoconstriction (HPV), a unique response of pulmonary circulation, is critical to prevent hypoxemia under local hypoventilation. Hypoxic inhibition of K+ channel is known as an important O2-sensing mechanism in HPV. Carbon monoxide (CO) is suggested as a positive regulator of Ca2+-activated K+ channel (BKCa), a stimulator of guanylate cyclase, and an O2-mimetic agent in heme moiety-dependent O2 sensing mechanisms. Here we compared the effects of CO on the HPV (Po2, 3%) in isolated pulmonary artery (HPVPA) and in blood-perfused/ventilated lungs (HPVlung) of rats. A pretreatment with CO (3%) abolished the HPVPA in a reversible manner. The inhibition of HPVPA was completely reversed by 1H-[1,2,4]oxadiazolo-[4,3-a]quinoxalin-1-one (ODQ), a guanylate cyclase inhibitor. In contrast, the HPVlung was only partly decreased by CO. Moreover, the partial inhibition of HPVlung by CO was affected neither by the pretreatment with ODQ nor by NO synthase inhibitor (L-NAME). The CO-induced inhibitions of HPVPA and HPVlung were commonly unaffected by tetraethylammonium (TEA, 2 mM), a blocker of BKCa. As a whole, CO inhibits HPVPA via activating guanylate cyclase. The inconsistent effects of ODQ on HPVPA and HPVlung suggest that ODQ may lose its sGC inhibitory action when applied to the blood-containing perfusate

SVM Based Indoor/Mixed/Outdoor Classification for Digital Photo Annotation in a Ubiquitous Computing Environment

This paper extends our previous framework for digital photo annotation by adding noble approach of indoor/mixed/outdoor image classification. We propose the best feature vectors for a support vector machine based indoor/mixed/ outdoor image classification. While previous research classifies photographs into indoor and outdoor, this study extends into three types, including indoor, mixed, and outdoor classes. This three-class method improves the performance of outdoor classification. This classification scheme showed 5--10% higher performance than previous research. This method is one of the components for digital image annotation. A digital camera or an annotation server connected to a ubiquitous computing network can automatically annotate captured photos using the proposed method