Merger Simulation in a Two-Sided Market: The Case of the Dutch Daily Newspapers

We develop a structural econometric framework that allows us to simulate the effects of mergers among two-sided platforms selling differentiated products. We apply the proposed methodology to the Dutch newspaper industry. Our structural model encompasses demands for differentiated products on both sides of the market and profit maximization by competing oligopolistic publishers who choose subscription and advertising prices, while taking the interactions between the two-sides of the market into account. We measure the sign and size of the indirect network effects between the two sides of the market and simulate the effects of a hypothetical merger on prices and welfare

The puzzlingly large Ca II triplet absorption in dwarf elliptical galaxies

We present central CaT, PaT, and CaT* indices for a sample of fifteen dwarf elliptical galaxies (dEs). Twelve of these have CaT* ~ 7 A and extend the negative correlation between the CaT* index and central velocity dispersion sigma, which was derived for bright ellipticals (Es), down to 20 < sigma < 55 km/s. For five dEs we have independent age and metallicity estimates. Four of these have CaT* ~ 7 A, much higher than expected from their low metallicities (-1.5 < [Z/H] < -0.5). The observed anti-correlation of CaT* as a function of sigma or Z is in flagrant disagreement with theory. We discuss some of the amendments that have been proposed to bring the theoretical predictions into agreement with the observed CaT*-values of bright Es and how they can be extended to incorporate also the observed CaT*-values of dEs. Moreover, 3 dEs in our sample have CaT* ~ 5 A, as would be expected for metal-poor stellar systems. Any theory for dE evolution will have to be able to explain the co-existence of low-CaT* and high-CaT* dEs at a given mean metallicity. This could be the first direct evidence that the dE population is not homogeneous, and that different evolutionary paths led to morphologically and kinematically similar but chemically distinct objects.Comment: 4 pages, 3 figures, accepted for publication in ApJ Letter

Possible Experience: from Boole to Bell

Mainstream interpretations of quantum theory maintain that violations of the Bell inequalities deny at least either realism or Einstein locality. Here we investigate the premises of the Bell-type inequalities by returning to earlier inequalities presented by Boole and the findings of Vorob'ev as related to these inequalities. These findings together with a space-time generalization of Boole's elements of logic lead us to a completely transparent Einstein local counterexample from everyday life that violates certain variations of the Bell inequalities. We show that the counterexample suggests an interpretation of the Born rule as a pre-measure of probability that can be transformed into a Kolmogorov probability measure by certain Einstein local space-time characterizations of the involved random variables.Comment: Published in: EPL, 87 (2009) 6000

Long-Time Correlations in Single-Neutron Interferometry Data

We present a detailed analysis of the time series of time-stamped neutron counts obtained by single-neutron interferometry. The neutron counting statistics display the usual Poissonian behavior, but the variance of the neutron counts does not. Instead, the variance is found to exhibit a dependence on the phase-shifter setting which can be explained by a probabilistic model that accounts for fluctuations of the phase shift. The time series of the detection events exhibit long-time correlations with amplitudes that also depend on the phase-shifter setting. These correlations appear as damped oscillations with a period of about 2.8 s. By simulation, we show that the correlations of the time differences observed in the experiment can be reproduced by assuming that, for a fixed setting of the phase shifter, the phase shift experienced by the neutrons varies periodically in time with a period of 2.8 s. The same simulations also reproduce the behavior of the variance. Our analysis of the experimental data suggests that time-stamped data of singleparticle interference experiments may exhibit transient features that require a description in terms of non-stationary processes, going beyond the standard quantum model of independent random events

Classical and Quantum Annealing in the Median of Three Satisfiability

We determine the classical and quantum complexities of a specific ensemble of three-satisfiability problems with a unique satisfying assignment for up to N=100 and N=80 variables, respectively. In the classical limit we employ generalized ensemble techniques and measure the time that a Markovian Monte Carlo process spends in searching classical ground states. In the quantum limit we determine the maximum finite correlation length along a quantum adiabatic trajectory determined by the linear sweep of the adiabatic control parameter in the Hamiltonian composed of the problem Hamiltonian and the constant transverse field Hamiltonian. In the median of our ensemble both complexities diverge exponentially with the number of variables. Hence, standard, conventional adiabatic quantum computation fails to reduce the computational complexity to polynomial. Moreover, the growth-rate constant in the quantum limit is 3.8 times as large as the one in the classical limit, making classical fluctuations more beneficial than quantum fluctuations in ground-state searches

The TURis System for Transurethral Resection of the Prostate: A NICE Medical Technology Guidance

The transurethral resection in saline (TURis) system was notified by the company Olympus Medical to the National Institute of Health and Care Excellence’s (NICE’s) Medical Technologies Evaluation Programme. Following selection for medical technologies guidance, the company developed a submission of clinical and economic evidence for evaluation. TURis is a bipolar surgical system for treating men with lower urinary tract symptoms due to benign prostatic enlargement. The comparator is any monopolar transurethral resection of the prostate (mTURP) system. Cedar, a collaboration between Cardiff and Vale University Health Board, Cardiff University and Swansea University in the UK, acted as an External Assessment Centre (EAC) for NICE to independently critique the company’s submission of evidence. Eight randomised trials provided evidence for TURis, demonstrating efficacy equivalent to that of mTURP for improvement of symptoms. The company presented meta-analyses of key outcome measures, and the EAC made methodological modifications in response to the heterogeneity of the trial data. The EAC analysis found that TURis substantially reduced the relative risks of transurethral resection syndrome (relative risk 0.18 [95 % confidence interval 0.05–0.62]) and blood transfusion (relative risk 0.35 [95 % confidence interval 0.19–0.65]). The company provided a de novo economic model comparing TURis with mTURP. The EAC critiqued the model methodology and made modifications. This found TURis to be cost saving at £70.55 per case for existing Olympus customers and cost incurring at £19.80 per case for non-Olympus customers. When an additional scenario based on the only available data on readmission (due to any cause) from a single trial was modelled, the estimated cost saving per case was £375.02 for existing users of Olympus electrosurgery equipment and £284.66 per case when new Olympus equipment would need to be purchased. Meta-analysis of eight randomised trials showed that TURis is associated with a statistically significantly reduced risk of transurethral resection syndrome and a reduced need for blood transfusion—two factors that may drive cost saving for the National Health Service. The clinical data are equivocal as to whether TURis shortens the hospital stay. Limited data from a single study suggest that TURis may reduce the rate of readmission after surgery. The NICE guidance supports adoption of the TURis technology for performing transurethral resection of the prostate in men with lower urinary tract symptoms due to benign prostatic enlargemen