350 research outputs found
Recent Trends In Merger Enforcement in the United States: The Increasing Impact of Economic Analysis
From its modern origins more than thirty years ago federal merger policy has centered around the use of standard surrogates for market power to make presumptions about the likely effects of mergers. Since that time it has been evolving towards an increasingly complex approach as economic considerations have expanded their influence on merger policy. This trend was solidified in the 1982 revision of the Department of Justice\u27s Merger Guidelines, accelerated by the Department of Justice and Federal Trade Commission 1992 Horizontal Merger Guidelines\u27 increased emphasis on unilateral (as opposed to collusive) anticompetitive effects, and has reached new heights in the last few years with new unilateral theories and the application of econometric analysis of market data and game-theory based simulation programs. In effect, merger policy has been moving away from reliance on surrogates and towards an approach that instead tells an economics-based story of anticompetitive harm — an approach that directly asks and answers the ultimate question: are prices to consumers likely to increase as a result of a merger? This new approach can lead to surprising conclusions. Many of these issues will be illustrated through the analysis of a merger enforcement action that was the largest, most economically complex, and among the most controversial ever brought by the Federal Trade Commission — its challenge to the Staples/Office Depot transaction
Recent Trends In Merger Enforcement in the United States: The Increasing Impact of Economic Analysis
From its modern origins more than thirty years ago federal merger policy has centered around the use of standard surrogates for market power to make presumptions about the likely effects of mergers. Since that time it has been evolving towards an increasingly complex approach as economic considerations have expanded their influence on merger policy. This trend was solidified in the 1982 revision of the Department of Justice\u27s Merger Guidelines, accelerated by the Department of Justice and Federal Trade Commission 1992 Horizontal Merger Guidelines\u27 increased emphasis on unilateral (as opposed to collusive) anticompetitive effects, and has reached new heights in the last few years with new unilateral theories and the application of econometric analysis of market data and game-theory based simulation programs. In effect, merger policy has been moving away from reliance on surrogates and towards an approach that instead tells an economics-based story of anticompetitive harm — an approach that directly asks and answers the ultimate question: are prices to consumers likely to increase as a result of a merger? This new approach can lead to surprising conclusions. Many of these issues will be illustrated through the analysis of a merger enforcement action that was the largest, most economically complex, and among the most controversial ever brought by the Federal Trade Commission — its challenge to the Staples/Office Depot transaction
From Surrogates to Stories: The Evolution of Federal Merger Policy
This article traces the evolution of federal merger policy. It documents how merger enforcement originally was largely based upon very strong structural presumptions. These presumptions gradually eroded and other factors became more and more important in enforcement decisions. Today meger enforcement essentially consists of structural safe harbors and a full rule of reason analysis for any merger not within these safe harbors
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Reevaluating Traditional International Service-Learning during a Global Pandemic
Engineers in Action (EIA) Bridge Program provides engineering students with international service-learning opportunities through design-build footbridge projects. The conventional project model relies on an implementation trip as a primary learning activity. Prior to the pandemiccaused cancellations of all implementation trips in 2020, EIA resources were already being allocated to increase on-campus learning activities in an effort to improve the inclusivity of the program to students without the financial means to travel and forego paid internships. Online courses were developed using Open edX (https://eiaeducation.org) and the focus of students was shifted from preparing themselves to implement the bridge projects in person, to aiding local staff and communities to implement the projects without EIA students onsite. All student chapters remained actively engaged in their projects through the adapted project preparations and online courses. The successful adaptation of a service-learning project to an online format suggests that students still highly value these educational experiences. In the future, servicelearningprojects should consider offering online formats to engage more engineering studentsacross a wider range of institutions.</p
A mechanism for the non-Fermi-liquid behavior in CeCu_{6-x}Au_x
We propose an explanation for the recently observed non-Fermi-liquid behavior
of metallic alloys CeCu_{6-x}Au_x: near x=0.1, the specific heat c is
proportional to T \ln (T_0/T) and the resistivity increases linearly with
temperature T over a wide range of T. These features follow from a model in
which three-dimensional conduction electrons are coupled to two-dimensional
critical ferromagnetic fluctuations near the quantum critical point, x_{c}=0.1.
This picture is motivated by the neutron scattering data in the ordered phase
(x=0.2) and is consistent with the observed phase diagram.Comment: 4 pages, LaTeX, 3 figure
NLL soft and Coulomb resummation for squark and gluino production at the LHC
We present predictions of the total cross sections for pair production of
squarks and gluinos at the LHC, including the stop-antistop production process.
Our calculation supplements full fixed-order NLO predictions with resummation
of threshold logarithms and Coulomb singularities at next-to-leading
logarithmic (NLL) accuracy, including bound-state effects. The numerical effect
of higher-order Coulomb terms can be as big or larger than that of soft-gluon
corrections. For a selection of benchmark points accessible with data from the
2010-2012 LHC runs, resummation leads to an enhancement of the total inclusive
squark and gluino production cross section in the 15-30 % range. For individual
production processes of gluinos, the corrections can be much larger. The
theoretical uncertainty in the prediction of the hard-scattering cross sections
is typically reduced to the 10 % level.Comment: 45 pages, 16 Figures, LaTex. v2: published version. Grids with
numerical results for the NLL cross sections for squark and gluino production
at the 7/8 TeV LHC are included in the submission and are also available at
http://omnibus.uni-freiburg.de/~cs1010/susy.htm
Model-independent extraction of matrix elements from top-quark measurements at hadron colliders
Current methods to extract the quark-mixing matrix element from
single-top production measurements assume that : top quarks decay into quarks with 100% branching fraction,
s-channel single-top production is always accompanied by a quark and
initial-state contributions from and quarks in the -channel
production of single top quarks are neglected. Triggered by a recent
measurement of the ratio
performed by the D0 collaboration, we consider a extraction method
that takes into account non zero d- and s-quark contributions both in
production and decay. We propose a strategy that allows to extract consistently
and in a model-independent way the quark mixing matrix elements ,
, and from the measurement of and from single-top
measured event yields. As an illustration, we apply our method to the Tevatron
data using a CDF analysis of the measured single-top event yield with two jets
in the final state one of which is identified as a -quark jet. We constrain
the matrix elements within a four-generation scenario by combining
the results with those obtained from direct measurements in flavor physics and
determine the preferred range for the top-quark decay width within different
scenarios.Comment: 36 pages, 17 figure
Inclusive top-pair production phenomenology with TOPIXS
We discuss various aspects of inclusive top-quark pair production based on
TOPIXS, a new, flexible program that computes the production cross section at
the Tevatron and LHC at next-to-next-to-leading logarithmic accuracy in soft
and Coulomb resummation, including bound-state effects and the complete
next-to-next-to-leading order result in the q-qbar channel, which has recently
become available. We present the calculation of the top-pair cross section in
pp collisions at 8 TeV centre-of-mass energy, as well as the cross sections for
hypothetical heavy quarks in extensions of the standard model. The dependence
on the parton distribution input is studied. Further we investigate the impact
of LHC top cross section measurements at sqrt(s)=7 TeV on global fits of the
gluon distribution using the NNPDF re-weighting method.Comment: 27 pages, 5 figures; v2: corrected typos in Eqs. (2.8) and (6.2) and
the text, added footnote on page 4, matches published versio
Localization corrections to the anomalous Hall effect in a ferromagnet
We calculate the localization corrections to the anomalous Hall conductivity
related to the contribution of spin-orbit scattering into the current vertex
(side-jump mechanism). We show that in contrast to the ordinary Hall effect,
there exists a nonvanishing localization correction to the anomalous Hall
resistivity. The correction to the anomalous Hall conductivity vanishes in the
case of side-jump mechanism, but is nonzero for the skew scattering. The total
correction to the nondiagonal conductivity related to both mechanisms, does not
compensate the correction to the diagonal conductivity.Comment: 7 pages with 7 figure
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