What determines banks’ market power? Akerlof versus Herfindahl

We introduce a model analyzing how asymmetric information problems in a bank-loan market may evolve over the age of a borrowing firm. The model predicts a life-cycle pattern for banks’interest rate markup. Young firms pay a low or negative markup, thereafter the markup increases until it falls for old firms. Furthermore, the pattern of the life-cycle depends on the informational advantage of the inside bank and when more dispersed borrower information yields fiercer bank competition. By applying a new measure of the informational advantage of inside banks and a large sample of small Nor-wegian firms, we find empirical support for the predicted markup pattern. We disentangle effects of asymmetric information (Akerlof effect)from effects of a concentrated banking market(Herfindahl effect). Our results indicate that the interest rate markups are not influenced by bank market concentration.Banking, risk-pricing, lock-in

Kickass Companies:Leveraging business models with great leadership

This paper is based on a study of 755 Danish SMEs and further in-depth case studies of 12 of these. Itsobjective was to identify a model of components and relationships among the very best, most efficient,high-performing SMEs. We call these Kickass Companies. The result is a model made up of six interrelated dimensions, which together illustrate what makes up a Kickass Company:You need willpowerYou need to be there for your customersYou strive to be the bestSuccess is a “we thing”You need to be able to accelerateUse motivating KPIsFollowing these six dimensions might not be a guarantee of success, and not all components will be implementable in all types of companies. However, the empirical evidence here suggests that, if companies think along these lines of doing business, their probability of success will be higher than otherwise

Cost-effectiveness of cervical cancer screening with primary human papillomavirus testing in Norway

Background: New screening technologies and vaccination against human papillomavirus (HPV), the necessary cause of cervical cancer, may impact optimal approaches to prevent cervical cancer. We evaluated the cost-effectiveness of alternative screening strategies to inform cervical cancer prevention guidelines in Norway. Methods: We leveraged the primary epidemiologic and economic data from Norway to contextualise a simulation model of HPV-induced cervical cancer. The current cytology-only screening was compared with strategies involving cytology at younger ages and primary HPV-based screening at older ages (31/34+ years), an option being actively deliberated by the Norwegian government. We varied the switch-age, screening interval, and triage strategies for women with HPV-positive results. Uncertainty was evaluated in sensitivity analysis. Results: Current cytology-only screening was less effective and more costly than strategies that involve switching to primary HPV testing in older ages. For unvaccinated women, switching at age 34 years to primary HPV testing every 4 years was optimal given the Norwegian cost-effectiveness threshold ($83 000 per year of life saved). For vaccinated women, a 6-year screening interval was cost-effective. When we considered a wider range of strategies, we found that an earlier switch to HPV testing (at age 31 years) may be preferred. Conclusions: Strategies involving a switch to HPV testing for primary screening in older women is expected to be cost-effective compared with current recommendations in Norway

Prevention of HPV-Related Cancers in Norway: Cost-Effectiveness of Expanding the HPV Vaccination Program to Include Pre-Adolescent Boys

Background: Increasingly, countries have introduced female vaccination against human papillomavirus (HPV), causally linked to several cancers and genital warts, but few have recommended vaccination of boys. Declining vaccine prices and strong evidence of vaccine impact on reducing HPV-related conditions in both women and men prompt countries to reevaluate whether HPV vaccination of boys is warranted. Methods: A previously-published dynamic model of HPV transmission was empirically calibrated to Norway. Reductions in the incidence of HPV, including both direct and indirect benefits, were applied to a natural history model of cervical cancer, and to incidence-based models for other non-cervical HPV-related diseases. We calculated the health outcomes and costs of the different HPV-related conditions under a gender-neutral vaccination program compared to a female-only program. Results: Vaccine price had a decisive impact on results. For example, assuming 71% coverage, high vaccine efficacy and a reasonable vaccine tender price of $75 per dose, we found vaccinating both girls and boys fell below a commonly cited cost-effectiveness threshold in Norway ($83,000/quality-adjusted life year (QALY) gained) when including vaccine benefit for all HPV-related diseases. However, at the current market price, including boys would not be considered ‘good value for money.’ For settings with a lower cost-effectiveness threshold ($30,000/QALY), it would not be considered cost-effective to expand the current program to include boys, unless the vaccine price was less than$36/dose. Increasing vaccination coverage to 90% among girls was more effective and less costly than the benefits achieved by vaccinating both genders with 71% coverage. Conclusions: At the anticipated tender price, expanding the HPV vaccination program to boys may be cost-effective and may warrant a change in the current female-only vaccination policy in Norway. However, increasing coverage in girls is uniformly more effective and cost-effective than expanding vaccination coverage to boys and should be considered a priority

Astrocytic GABA transporter activity modulates excitatory neurotransmission

Astrocytes are ideally placed to detect and respond to network activity. They express ionotropic and metabotropic receptors, and can release gliotransmitters. Astrocytes also express transporters that regulate the extracellular concentration of neurotransmitters. Here we report a previously unrecognized role for the astrocytic GABA transporter, GAT-3. GAT-3 activity results in a rise in astrocytic Na(+) concentrations and a consequent increase in astrocytic Ca(2+) through Na(+)/Ca(2+) exchange. This leads to the release of ATP/adenosine by astrocytes, which then diffusely inhibits neuronal glutamate release via activation of presynaptic adenosine receptors. Through this mechanism, increases in astrocytic GAT-3 activity due to GABA released from interneurons contribute to 'diffuse' heterosynaptic depression. This provides a mechanism for homeostatic regulation of excitatory transmission in the hippocampus

Merkekonseptets betydning for merkeutvidelser

For å skape vekst hos en merkevare blir det ofte benyttet en vekstrategi med merkeutvidelser. En merkeutvidelse vil i de fleste tilfeller plassere merkevaren inn i en ny produktkategori. Det vi har sett på i denne oppgaven er om det å plassere en merkevare inn i en ny fjern produktkategori har en sammenheng med valgt merkekonsept. Er det lettere for et av de tre konseptene: symbolsk, funksjonelt eller opplevelsesbasert å komme med nye merkeutvidelser i fjerntliggende produktkategorier? Dette testet vi ved å se om det var en forskjell mellom å kun presentere et merke innen et av merkekonseptene og en utvidelse, versus merket sammen med merkevarestrategien sekvensiell merkeutvidelse. Problemstillingen til oppgaven lyder derfor som følger: “Hvilken effekt har et merkekonsept på merkets mulighet til å utvide til fjerne produktkategorier?”. For å besvare forskningsspørsmålet er studien delt i to deler med tilhørende hypoteser. For innsamling av data benyttet vi oss av kvantitativ metode med et eksperimentelt design på studiet. Første del baseres på en spørreundersøkelse, hvor vi ser på hvilket konsept som gjør det dårligst med den fjerne merkeutvidelsen. Dette konseptet ble tatt med videre i del to for å se om vi kunne endre holdningen til samme nivå som det beste konseptet. I del to har vi testet hypotesen med et eksperiment. En av gruppene ble utsatt for en “historie” med sekvensielle utvidelser fra mormerket før den fjerne merkeutvidelse vi egentlig ser på. I den andre gruppen ble de kun presentert for mormerket med den fjerne merkeutvidelsen. Resultatene fra undersøkelsene viser mange interessante funn. I del én viste resultatene at det symbolske konseptet sin fjerne utvidelse gjorde det dårligst, og det opplevelsesbaserte konseptet best. Dette var motsatt av hva teorien tilsier og vi fikk ikke støtte for hypotesen i første del. Vi tok med oss den symbolske fjerne utvidelsen videre til del to og benyttet strategien sekvensiell merkeutvidelse for å minske gapet mellom mormerket og utvidelsen. Dette utgjorde en betydelig forskjell i resultatene. Basert på denne manipulasjonen endret holdningen respondentene hadde til den fjerne utvidelsen seg såpass at den overgikk holdningen for det opplevelsesbaserte konseptet i del én. I tillegg viste funnene med sekvensiell merkeutvidelse at omdømmet til mormerket ikke lenger har en påvirkning på holdningen til utvidelsen slik som tidligere. Et generelt funn for alle konsepter og utvidelser er at innovativitetsgraden til respondentene ikke har en signifikant påvirkning på holdningen. Om dette er tilfelle eller et resultat av dårlig operasjonalisering stiller vi oss kritiske til

Thermoelectric Power of Ion Exchange Membrane Cells Relevant to Reverse Electrodialysis Plants

A thermoelectric cell is designed and experiments are carried out in order to measure Seebeck coefficients of ion exchange membranes at different constant concentrations of NaCl in water. The purpose of the investigation is to explore how a temperature gradient may be applied to increase the efficiency of saline power plants, in particular, of the process of reverse electrodialysis (RED). To evaluate measurements and RED applications, we derive an expression for the thermoelectric potential for a cell with a single membrane and for a RED unit cell. The Seebeck coefficient is interpreted in terms of the Peltier heat of the cell, and further expressed in terms of transported entropies. We find the Seebeck coefficient of the cell, after correcting for temperature polarization, by gradually increasing the membrane thickness. The contribution to the Seebeck coefficient from the membrane varied between 1.41 and 0.98 mV/K in FUMASEP FKS-PET-75 cation exchange membranes, and between 0.56 and 0.48 mV/K in FUMASEP FAD-PET-75 anion exchange membranes. The precision in the results is 1%, for NaCl concentrations between 0.03 and 0.60 mol/kg. Measurements on the RED unit cell with water samples taken from realistic fresh- and salt-water sources confirmed that a temperature difference has a significant effect, increasing the emf by 1.3% per kelvin of temperature difference

The two faces of user involvement: Everyday life and local context

In most developed countries, healthcare systems are increasingly faced with political demands to involve users in the planning and development of their services. This article reports findings from an ethnographic fieldwork that investigated an inter-organizational project involving user representation. The project was set up to develop an educational programme for people with rheumatoid arthritis (RA). By investigating user representatives’ experiences, our aim was to bring to light more general determinants and conditions of user involvement in health services. Drawing on an analytical framework within everyday life sociology, the analysis explored the dual concept of “conditions and conditionality”, metaphorically described in this article as “the two faces of user involvement”. From one perspective, everyday life experiences – living with RA, encounters with the health system and professional identities and work life – conditioned user representatives’ participation in the project. From another perspective, the local institutional context and interactions within the project framework conditioned the way in which users are involved. The ways in which these conditions changed over time are described, in relation to the specific spatial, temporal and social developments in both the everyday lives of the user representatives and in the local project