Flexible vs dedicated technology adoption in the presence of a public firm

We study firms' adoption of flexible versus dedicated technologies in the context of a mixed versus a private duopoly with product differentiation. The flexible technology allows a firm to become multiproduct or multimarket without bearing additional costs. We find that a configuration where both firms adopt flexible technologies is more likely to arise in equilibrium in the private duopoly. A similar result occurs when both firms use a dedicated technology in the case of either almost independent products or products that are close substitutes. Privatization of the public firm is socially beneficial only in limited circumstances

R&D policy and privatization in a mixed oligopoly

We introduce R&D activity and R&D subsidies in the context of a mixed oligopoly and evaluate the effects of privatization on welfare. We show that when R&D subsidies are employed, privatization is welfare and R&D promoting provided that the number of competitors is sufficiently large

Entry and Exit in a Liberalised Market

We analyze the entry and exit activity in the UK airline markets in the post-liberalisation period and study the di¤erential traits between tra-ditional and low cost carriers. Alongside with the characteristics tradition-ally highlighted as determinants of entry (e.g., airport presence and network economies), we …nd that the existence of charter or seasonal operators, prod-uct di¤erentiation opportunities and the level of quality provided by the in-cumbents are also relevant in explaining entry and/or exit. Despite the liber-alisation policies, the contestability of important large markets still seems to be limited. J.E.L. Classi…cations: L11, L9

Tests for the consistency of three-level nested logit models with utility maximization

This paper provides necessary conditions for testing the local consistency of three-level nested logit models with randomutilitymaximization.We find that for a modelwith two sub-nests per nest the conditions can lead to a substantial increase in the range of acceptable dissimilarity parameters, irrespective of the number of alternatives per sub-nest

An experiment on subjective game valuations

We report experimental results on a prisoners' dilemma implemented in a way which allows us to elicit incentive−compatible valuations of the game. We test the hypothesis that players' valuations coincide with their Nash equilibrium earnings. Our results offer significantly less support for this hypothesis than for the prediction of Dominant Strategy (DS) play

Periosteum-derived mesenchymal progenitor cells in engineered implants promote fracture healing in a critical-size defect rat model

An attractive alternative to bone autografts is the use of autologous mesenchymal progenitor cells (MSCs) in combination with biomaterials. We compared the therapeutic potential of different sources of mesenchymal stem cells in combination with biomaterials in a bone nonunion model. A critical‐size defect was created in Sprague–Dawley rats. Animals were divided into six groups, depending on the treatment to be applied: bone defect was left empty (CTL); treated with live bone allograft (LBA); hrBMP‐2 in collagen scaffold (CSBMP2); acellular polycaprolactone scaffold (PCL group); PCL scaffold containing periosteum‐derived MSCs (PCLPMSCs) and PCL containing bone marrow‐derived MSCs (PCLBMSCs). To facilitate cell tracking, both MSCs and bone graft were isolated from green fluorescent protein (GFP)‐transgenic rats. CTL group did not show any signs of healing during the radiological follow‐up (n = 6). In the LBA group, all the animals showed bone bridging (n = 6) whereas in the CSBMP2 group, four out of six animals demonstrated healing. In PCL and PCLPMSCs groups, a reduced number of animals showed radiological healing, whereas no healing was detected in the PCLBMSCs group. Using microcomputed tomography, the bone volume filling the defect was quantified, showing significant new bone formation in the LBA, CSBMP2, and PCLPMSCs groups when compared with the CTL group. At 10 weeks, GFP positive cells were detected only in the LBA group and restricted to the outer cortical bone in close contact with the periosteum. Tracking of cellular implants demonstrated significant survival of the PMSCs when compared with BMSCs. In conclusion, PMSCs improve bone regeneration being suitable for mimetic autograft design