Defining Markets That Involve Multi-Sided Platform Businesses: An Empirical Framework With an Application to Google's Purchase of DoubleClick

A multi-sided platform (MSP) serves as an intermediary for two or more groups of customers who are linked by indirect network effects. Recent research has found that MSPs are significant in many industries and that some standard economic results, such as the Lerner Index, do not apply to them, in material ways, without some significant modification to take linkages between the multiple sides into account. This article extends several key tools used for the analysis of mergers to situations in which one or more of the suppliers are MSPs. It shows that the application of traditional tools to mergers involving MSPs results in biases the direction of which depends on the particular tool being used and other conditions. It also extends these tools to the analysis of the merger of MSPs. The techniques are illustrated with an application to an acquisition by Google in the online advertising industry.

Young LMC clusters: the role of red supergiants and multiple stellar populations in their integrated light and CMDs

The optical integrated spectra of three LMC young stellar clusters (NGC 1984, NGC 1994 and NGC 2011) exhibit concave continua and prominent molecular bands which deviate significantly from the predictions of single stellar population (SSP) models. In order to understand the appearance of these spectra, we create a set of young stellar population (MILES) models, which we make available to the community. We use archival International Ultraviolet Explorer integrated UV spectra to independently constrain the cluster masses and extinction, and rule out strong stochastic effects in the optical spectra. In addition, we also analyze deep colour-magnitude diagrams of the clusters to provide independent age determinations based on isochrone fitting. We explore hypotheses including age-spreads in the clusters, a top-heavy initial mass function, different SSP models and the role of red supergiant stars (RSG). We find that the strong molecular features in the optical spectra can only be reproduced by modeling an increased fraction of about 20 per cent by luminosity of RSG above what is predicted by canonical stellar evolution models. Given the uncertainties in stellar evolution at Myr ages, we cannot presently rule-out the presence of Myr age-spreads in these clusters. Our work combines different wavelengths as well as different approaches (resolved data as well as integrated spectra for the same sample) in order to reveal the complete picture. We show that each approach provides important information but in combination can we better understand the cluster stellar populations.Comment: Accepted for publication in MNRA

SALMON RECOVERY IN THE COLUMBIA RIVER BASIN: ANALYSIS OF MEASURES AFFECTING AGRICULTURE

The effects of salmon recovery measures on the Northwest agricultural sector are evaluated. Relevant recovery measures, such as: modified timing for dam releases, reservoir drawdown, and flow augmentation in the Columbia River basin, on the regional agricultural sector are evaluated. Combined, these measures would increase power rates, grain transportation costs, and irrigation water costs and reduce the supply of water to irrigators. We quantify these input cost and quantity changes and combine them into seven recovery scenarios for analysis. Results suggest that drawdown and/or minor reductions in irrigation water diversions would reduce producers' profits by less than 1% of baseline levels. However, the most extreme scenario-a long drawdown period combined with a large reduction in irrigation diversions-would reduce producers' profits by $35 million (2.5$35 million decline in annual profits, more than $27 million occur in southern Idaho and eastern Oregon. The federal government would bear these costs if it acquires water via voluntary transactions.Agricultural and Food Policy, Resource /Energy Economics and Policy,

Discrimination of prostate cancer cells and non-malignant cells using secondary ion mass spectrometry

This communication utilises Time-of-Flight Secondary Ion Mass Spectrometry (ToF-SIMS) combined with multivariate analysis to obtain spectra from the surfaces of three closely related cell lines allowing their discrimination based upon mass spectral ions

Gating mechanism of elongating β-ketoacyl-ACP synthases.

Carbon-carbon bond forming reactions are essential transformations in natural product biosynthesis. During de novo fatty acid and polyketide biosynthesis, β-ketoacyl-acyl carrier protein (ACP) synthases (KS), catalyze this process via a decarboxylative Claisen-like condensation reaction. KSs must recognize multiple chemically distinct ACPs and choreograph a ping-pong mechanism, often in an iterative fashion. Here, we report crystal structures of substrate mimetic bearing ACPs in complex with the elongating KSs from Escherichia coli, FabF and FabB, in order to better understand the stereochemical features governing substrate discrimination by KSs. Complemented by molecular dynamics (MD) simulations and mutagenesis studies, these structures reveal conformational states accessed during KS catalysis. These data taken together support a gating mechanism that regulates acyl-ACP binding and substrate delivery to the KS active site. Two active site loops undergo large conformational excursions during this dynamic gating mechanism and are likely evolutionarily conserved features in elongating KSs

POLICY DIRECTIONS TO MITIGATE WATER-SUPPLY RISK IN IRRIGATED AGRICULTURE: A FEDERAL PERSPECTIVE

Water reallocation to meet mandated flow requirements and trust responsibilities, established in Federal law and water authority, can result in large uncompensated losses to irrigated agriculture. This paper discusses the nature and potential cost of water-supply interruptions due to Federal actions, and provides a comparative assessment of alternative risk-mitigation measures.Resource /Energy Economics and Policy,

Real-Time Maps of Fluid Flow Fields in Porous Biomaterials

Mechanical forces such as fluid shear have been shown to enhance cell growth and differentiation, but knowledge of their mechanistic effect on cells is limited because the local flow patterns and associated metrics are not precisely known. Here we present real-time, noninvasive measures of local hydrodynamics in 3D biomaterials based on nuclear magnetic resonance. Microflow maps were further used to derive pressure, shear and fluid permeability fields. Finally, remodeling of collagen gels in response to precise fluid flow parameters was correlated with structural changes. It is anticipated that accurate flow maps within 3D matrices will be a critical step towards understanding cell behavior in response to controlled flow dynamics.Comment: 23 pages, 4 figure

BRITE-Constellation reveals evidence for pulsations in the enigmatic binary η\eta Carinae

$\eta$ Car is a massive, eccentric binary with a rich observational history. We obtained the first high-cadence, high-precision light curves with the BRITE-Constellation nanosatellites over 6 months in 2016 and 6 months in 2017. The light curve is contaminated by several sources including the Homunculus nebula and neighboring stars, including the eclipsing binary CPD$-$59$^\circ$2628. However, we found two coherent oscillations in the light curve. These may represent pulsations that are not yet understood but we postulate that they are related to tidally excited oscillations of $\eta$ Car's primary star, and would be similar to those detected in lower-mass eccentric binaries. In particular, one frequency was previously detected by van Genderen et al. and Sterken et al. through the time period of 1974 to 1995 through timing measurements of photometric maxima. Thus, this frequency seems to have been detected for nearly four decades, indicating that it has been stable in frequency over this time span. These pulsations could help provide the first direct constraints on the fundamental parameters of the primary star if confirmed and refined with future observations.Comment: 8 pages, 4 figures, accepted to MNRA