Bundling without price discrimination

This paper examines the optimal bundling strategies of a multiproduct monopoly in markets in which a seller cannot monitor and thereby restrict the purchases of buyers to a single bundle, while buyers have resale opportunities. In such markets, the standard mechanism through which bundling increases seller profits, based on price discrimination, is not feasible. The profit-maximizing bundling strategy is characterized, given the restrictions on pricing policies resulting from resale and a lack of monitoring. The welfare implications of optimal bundling are analyzed

Comparative analysis and optimization of technical and weight parameters of turbo-electric propulsion systems

According to Flightpath 2050, the aviation industry is aiming to substantially reduce emissions over the coming decades. One possible solution to meet these ambitious goals is by moving to hybrid-electric drivetrain architectures which require the electric components to be extremely lightweight and efficient at the same time. It has been claimed in several publications that cryogenic and in particular superconducting components can help to fulfill such requirements that potentially cannot be achieved with non-cryogenic components. The purpose of this work was to make a fair comparison between a cryogenic turbo-electric propulsion system (CEPS) and a non-cryogenic turbo-electric propulsion system (TEPS) on a quantitative level. The results on the CEPS were presented in detail in a previous publication. The focus of this publication is to present the study on the TEPS, which in conclusion allows a direct comparison. For both systems the same top-level aircraft requirements were used that were derived within the project TELOS based on an exemplary mission profile and the physical measures of a 220-passenger aircraft. Our study concludes that a CEPS could be 10% to 40% lighter than a TEPS. Furthermore, a CEPS could have a total efficiency gain of up to 18% compared to a similar TEPS

Brownian markets

Financial market dynamics is rigorously studied via the exact generalized Langevin equation. Assuming market Brownian self-similarity, the market return rate memory and autocorrelation functions are derived, which exhibit an oscillatory-decaying behavior with a long-time tail, similar to empirical observations. Individual stocks are also described via the generalized Langevin equation. They are classified by their relation to the market memory as heavy, neutral and light stocks, possessing different kinds of autocorrelation functions

Hydrology in the Sea of Marmara during the last 23 ka : implications for timing of Black Sea connections and sapropel deposition

Author Posting. © American Geophysical Union, 2010. This article is posted here by permission of American Geophysical Union for personal use, not for redistribution. The definitive version was published in Paleoceanography 25 (2010): PA1205, doi:10.1029/2009PA001735.Sediments deposited under lacustrine and marine conditions in the Sea of Marmara hold a Late Quaternary record for water exchange between the Black Sea and the Mediterranean Sea. Here we report a multiproxy data set based on oxygen and strontium isotope results obtained from carbonate shells, major and trace elements, and specific organic biomarker measurements, as well as a micropaleontological study from a 14C-dated sediment core retrieved from the Sea of Marmara. Pronounced changes occurred in δ18O and 87Sr/86Sr values at the fresh and marine water transition, providing additional information in relation to micropaleontological data. Organic biomarker concentrations documented the marine origin of the sapropelic layer while changes in n-alkane concentrations clearly indicated an enhanced contribution for organic matter of terrestrial origin before and after the event. When compared with the Black Sea record, the results suggest that the Black Sea was outflowing to the Sea of Marmara from the Last Glacial Maximum until the warmer Bølling-Allerød. The first marine incursion in the Sea of Marmara occurred at 14.7 cal ka B.P. However, salinification of the basin was gradual, indicating that Black Sea freshwaters were still contributing to the Marmara seawater budget. After the Younger Dryas (which is associated with a high input of organic matter of terrestrial origin) both basins were disconnected, resulting in a salinity increase in the Sea of Marmara. The deposition of organic-rich sapropel that followed was mainly related to enhanced primary productivity characterized by a reorganization of the phytoplankton population.We acknowledge support from INSU and the French Polar Institute IPEV

Precision of the current methods to measure the alkenone proxy UK'37 and absolute alkenone abundance in sediments : results of an interlaboratory comparison study

Measurements of the UK'37 index and the absolute abundance of alkenones in marine sediments are increasingly used in paleoceanographic research as proxies of past sea surface temperature and haptophyte (mainly coccolith-bearing species) primary productivity, respectively. An important aspect of these studies is to be able to compare reliably data obtained by different laboratories from a wide variety of locations. Hence the intercomparability of data produced by the research community is essential. Here we report results from an anonymous interlaboratory comparison study involving 24 of the leading laboratories that carry out alkenone measurements worldwide. The majority of laboratories produce data that are intercomparable within the considered confidence limits. For the measurement of alkenone concentrations, however, there are systematic biases between laboratories, which might be related to the techniques employed to quantify the components. The maximum difference between any two laboratories for any two single measurements of UK'37 in sediments is estimated, with a probability of 95%, to be <2.18C. In addition, the overall within-laboratory precision for the UK'37 temperature estimates is estimated to be <1.68C (95% probability). Similarly, from the analyses of alkenone concentrations the interlaboratory reproducibility is estimated at 32%, and the repeatability is estimated at 24%. The former is compared to a theoretical estimate of reproducibility and found to be excessively high. Hence there is certainly scope and a demonstrable need to improve reproducibility and repeatability of UK'37 and especially alkenone quantification data across the community of scientists involved in alkenone research

Sea surface temperatures of the western Arabian Sea during the last deglaciation.

In this study we present a sea surface temperature (SST) record from the western Arabian Sea for the last\ud 20,000 years. We produced centennial-scale d18O and Mg/Ca SST time series of core NIOP929 with focus on\ud the glacial-interglacial transition. The western Arabian Sea is influenced by the seasonal NE and SW monsoon\ud wind systems. Lowest SSTs occur during the SW monsoon season because of upwelling of cold water, and\ud highest SSTs can be found in the low-productivity intermonsoon season. The Mg/Ca-based temperature record\ud reflects the integrated SST of the SW and NE monsoon seasons. The results show a glacial-interglacial SST\ud difference of 2C, which is corroborated by findings from other Arabian Sea cores. At 19 ka B.P. a yet\ud undescribed warm event of several hundred years duration is found, which is also reflected in the d18O record. A\ud second centennial-scale high SST/low d18O event is observed at 17 ka B.P. This event forms the onset of the\ud stepwise yet persistent trend toward Holocene temperatures. Highest Mg/Ca-derived SSTs in the NIOP929\ud record occurred between 13 and 10 ka B.P. Interglacial SST is 24C, indicating influence of upwelling. The\ud onset of Arabian Sea warming occurs when the North Atlantic is experiencing minimum temperatures. The rapid\ud temperature variations at 19, 17, and 13 ka B.P. are difficult to explain with monsoon changes alone and are\ud most likely also linked to regional hydrographic changes, such as trade wind induced variations in warm water\ud advection

Precision of the current methods to measure the alkenone proxy U₃₇ K’ and absolute alkenone abundance in sediments: results of an interlaboratory comparison study

Measurements of the U₃₇ K’ index and the absolute abundance of alkenones in marine sediments are increasingly used in paleoceanographic research as proxies of past sea surface temperature and haptophyte (mainly coccolith-bearing species) primary productivity, respectively. An important aspect of these studies is to be able to compare reliably data obtained by different laboratories from a wide variety of locations. Hence the intercomparability of data produced by the research community is essential. Here we report results from an anonymous interlaboratory comparison study involving 24 of the leading laboratories that carry out alkenone measurements worldwide. The majority of laboratories produce data that are intercomparable within the considered confidence limits. For the measurement of alkenone concentrations, however, there are systematic biases between laboratories, which might be related to the techniques employed to quantify the components. The maximum difference between any two laboratories for any two single measurements of U₃₇ K’ in sediments is estimated, with a probability of 95%, to be <2.1°C. In addition, the overall within-laboratory precision for the U₃₇ K’ temperature estimates is estimated to be <1.6°C (95% probability). Similarly, from the analyses of alkenone concentrations the interlaboratory reproducibility is estimated at 32%, and the repeatability is estimated at 24%. The former is compared to a theoretical estimate of reproducibility and found to be excessively high. Hence there is certainly scope and a demonstrable need to improve reproducibility and repeatability of U₃₇ K’ and especially alkenone quantification data across the community of scientists involved in alkenone research