Welfare and Revenue Guarantees for Competitive Bundling Equilibrium

We study equilibria of markets with $m$ heterogeneous indivisible goods and $n$ consumers with combinatorial preferences. It is well known that a competitive equilibrium is not guaranteed to exist when valuations are not gross substitutes. Given the widespread use of bundling in real-life markets, we study its role as a stabilizing and coordinating device by considering the notion of \emph{competitive bundling equilibrium}: a competitive equilibrium over the market induced by partitioning the goods for sale into fixed bundles. Compared to other equilibrium concepts involving bundles, this notion has the advantage of simulatneous succinctness ($O(m)$ prices) and market clearance. Our first set of results concern welfare guarantees. We show that in markets where consumers care only about the number of goods they receive (known as multi-unit or homogeneous markets), even in the presence of complementarities, there always exists a competitive bundling equilibrium that guarantees a logarithmic fraction of the optimal welfare, and this guarantee is tight. We also establish non-trivial welfare guarantees for general markets, two-consumer markets, and markets where the consumer valuations are additive up to a fixed budget (budget-additive). Our second set of results concern revenue guarantees. Motivated by the fact that the revenue extracted in a standard competitive equilibrium may be zero (even with simple unit-demand consumers), we show that for natural subclasses of gross substitutes valuations, there always exists a competitive bundling equilibrium that extracts a logarithmic fraction of the optimal welfare, and this guarantee is tight. The notion of competitive bundling equilibrium can thus be useful even in markets which possess a standard competitive equilibrium

The Evolutionarily Conserved Mediator Subunit MDT-15/MED15 Links Protective Innate Immune Responses and Xenobiotic Detoxification

Metazoans protect themselves from environmental toxins and virulent pathogens through detoxification and immune responses. We previously identified a small molecule xenobiotic toxin that extends survival of Caenorhabditis elegans infected with human bacterial pathogens by activating the conserved p38 MAP kinase PMK-1 host defense pathway. Here we investigate the cellular mechanisms that couple activation of a detoxification response to innate immunity. From an RNAi screen of 1,420 genes expressed in the C. elegans intestine, we identified the conserved Mediator subunit MDT-15/MED15 and 28 other gene inactivations that abrogate the induction of PMK-1-dependent immune effectors by this small molecule. We demonstrate that MDT-15/MED15 is required for the xenobiotic-induced expression of p38 MAP kinase PMK-1-dependent immune genes and protection from Pseudomonas aeruginosa infection. We also show that MDT-15 controls the induction of detoxification genes and functions to protect the host from bacteria-derived phenazine toxins. These data define a central role for MDT-15/MED15 in the coordination of xenobiotic detoxification and innate immune responses

The impact of the Article 50 talks on the EU:Risk aversion and the prospects for further EU disintegration

This article explores why there was no domino effect after Brexit and reflects on what this means for the health of European integration. It shows how the UK responded to the uncertainty surrounding the Article 50 talks by testing EU unity, prompting both sides to discuss a no-deal outcome. Evidence from Eurobarometer surveys demonstrates that attachment to the EU strengthened markedly during Brexit talks in the four countries considered most likely to flirt with leaving the EU. Hence Brexit changed the benchmarking process surrounding citizens’ evaluation of the prospects of getting a better deal outside the EU. Risk aversion thus explains the lack of a Brexit domino effect. However, the volatility of public opinion before and after the Article 50 talks, combined with the weaker increase in support over the EU as a whole, means there is no room for complacency over the future prospects of disintegration

Parameterized Supply Function Bidding: Equilibrium and Efficiency

We consider a model where a finite number of producers compete to meet an infinitely divisible but inelastic demand for a product. Each firm is characterized by a production cost that is convex in the output produced, and firms act as profit maximizers. We consider a uniform price market design that uses supply function bidding: firms declare the amount they would supply at any positive price, and a single price is chosen to clear the market. We are interested in evaluating the impact of price-anticipating behavior both on the allocative efficiency of the market and on the prices seen at equilibrium. We show that by restricting the strategy space of the firms to parameterized supply functions, we can provide upper bounds on both the inflation of aggregate cost at the Nash equilibrium relative to the socially optimal level, as well as the markup of the Nash equilibrium price above the competitive level: as long as N > 2 firms are competing, these quantities are both upper bounded by 1 + 1/(N − 2). This result holds even in the presence of asymmetric cost structure across firms. We also discuss several extensions, generalizations, and related issues.National Science Foundation (U.S.) (Graduate Research Fellowship)National Science Foundation (U.S.) (grant ECS-0312921

General Chemistry Student Attitudes and Success with Use of Online Homework: Traditional- Responsive versus Adaptive-Responsive

We investigated whether use of an adaptive-responsive online homework system (OHS) that tailors homework to students’ prior knowledge and periodically reassesses students to promote learning through practice retrieval has inherent advantages over traditional-responsive online homework. A quasi-experimental cohort control post-test-only design with nonequivalent groups and propensity scores with nearest neighbor matching (n = 6,114 pairs) was used. The adaptive system was found to increase the odds of a higher final letter grade for average, below average, and failing students. However, despite the learning advantages, students self-reported less favorable attitudes toward adaptive-responsive (3.15 of 5) relative to traditional-responsive OHS (3.31). Specific to the adaptive OHS, the following were found: (i) student attitudes were moderately and positively correlated (r = 0.36, p \u3c 0.01) to final letter grade, (ii) most students (95%) reported engaging in remediation of incorrect responses, (iii) a majority of students (69%) reported changes in study habits, and (iv) students recognized the benefit of using adaptive OHS by ranking its assignments and explanations or review materials as two of the top three most useful course aspects contributing to perceived learning. Instructors can use our findings to inform their choice of online homework system for formative assessment of chemistry learning by weighing the benefits, disadvantages, and learning pedagogies of traditional-responsive versus adaptive-responsive systems

Staphylococcus aureus Redirects Central Metabolism to Increase Iron Availability

Staphylococcus aureus pathogenesis is significantly influenced by the iron status of the host. However, the regulatory impact of host iron sources on S. aureus gene expression remains unknown. In this study, we combine multivariable difference gel electrophoresis and mass spectrometry with multivariate statistical analyses to systematically cluster cellular protein response across distinct iron-exposure conditions. Quadruplicate samples were simultaneously analyzed for alterations in protein abundance and/or post-translational modification state in response to environmental (iron chelation, hemin treatment) or genetic (Δfur) alterations in bacterial iron exposure. We identified 120 proteins representing several coordinated biochemical pathways that are affected by changes in iron-exposure status. Highlighted in these experiments is the identification of the heme-regulated transport system (HrtAB), a novel transport system which plays a critical role in staphylococcal heme metabolism. Further, we show that regulated overproduction of acidic end-products brought on by iron starvation decreases local pH resulting in the release of iron from the host iron-sequestering protein transferrin. These findings reveal novel strategies used by S. aureus to acquire scarce nutrients in the hostile host environment and begin to define the iron and heme-dependent regulons of S. aureus

Webteaching: sequencing of subject matter in relation to prior knowledge of pupils

Two experiments are discussed in which the sequencing procedure of webteaching is compared with a linear sequence for the presentation of text material.\ud \ud In the first experiment variations in the level of prior knowledge of pupils were studied for their influence on the sequencing mode of text presentation. Prior knowledge greatly reduced the effect of the size of sequencing procedures.\ud \ud In the second experiment pupils with a low level of prior knowledge studied a text, following either a websequence or a linear sequence. Webteaching was superior to linear teaching on a number of dependent variables. It is concluded that webteaching is an effective sequencing procedure in those cases where substantial new learning is required