The welfare impacts of discriminatory price tariffs

This paper looks at the use of asymmetric tariffs as a regulatory instrument. We use a monopolistic market setup with two markets and we introduce price controls in one of the two. The purpose of the regulator is to maximise consumer welfare through this price discriminatory practice. We consider cases where the welfare of the consumers in the two markets is weighted equally and cases where it is not. In some cases we allow for the two markets to be linked through a monopsonistic input market. The paper focuses on the welfare implications of this regulatory approach, with the firm operating under a profit restriction. Results suggest that having only one price-controlled market is in certain cases a good option from a welfare perspective

The "Heroic Journey" : managing the pedagogy and development of business studies teachers

This paper examines the use of the "Heroic Journey" framework from Joseph Campbell as a conceptual approach to manage the development of teaching skills of academic teachers in Business Education, through the teaching of tutorials in the Management Development Programme (MDP) of the University of Strathclyde. Tutors' development during their time spent in the MDP, their learning and their evolution into academic teachers is presented through the monomyth structure of the "Hero's Journey", as introduced by Campbell (2008). This paper offers insights, based on practitioner's perspective, and discussions and recommendations on the pedagogy of academic tutors in Business Education. Through the author's reflections, based on his experiences as Director of MDP during 2017-20, it is suggested that tutor development is a continuous process of learning, and a journey of discovery for anyone involved in it. The approach to manage the development of skills and knowledge-based competencies of teams can also be extended to other fields, to create a managerial tool

Accessibility in digital health : virtual conversational agents and mental health services

Recent advances in Artificial Intelligence have led changes to the operation, the capabilities and the performance of a number of industries. Provision of Mental Health Services is expected to experience a paradigm shift, with the introduction of Artificial Intelligence-driven Virtual Conversational Agents (VCAs). This is a conceptual paper, focusing on the use of Personalised Anthropomorphic VCAs (PAVCAs), which we introduce as a term. We suggest the use of PAVCAs to support people suffering from Prolonged Grief Disorder (PGD). For such an application to be able to drive meaningful change for the users and to deliver economic value and utility, we argue that the PAVCAs are configured to the known and public characteristics (e.g. personal linguistic peculiarities, moral principles, stated tastes and preferences across a range of themes) of the users beloved deceased ones. Such digital services aim to offer to service users solace, comfort and companion. We explore the options of having such applications personalized pre-mortem or post-mortem, and the source for information being affected by data limitations. Using two models, we suggest that the use of these platforms can comprise a reactive approach to the diagnosis of PGD; as well as a proactive approach, dealing with grief before PDG is manifested

The welfare impacts of discriminatory price tariffs

This paper examines the use of asymmetric tariffs as a regulatory instrument. A monopoly setup is adopted in which the firm sells in two markets but price controls are introduced in just one. The regulator’s objective is to increase consumer welfare through this price discriminatory practice, with the firm operating under a profit constraint. We consider cases where consumer welfare in the two markets is weighted both equally and unequally and also cases where the cost of supplying the two retail markets is determined in a monopsonistic input market. The results suggest that in certain situations controlling prices in only one market could be a desirable option from a welfare perspective

Clinical Utility of Cardiovascular Magnetic Resonance Imaging for Diagnosis of Acute Myocarditis

A 49 year-old patient with past medical history significant for arterial hypertension (treated with telmisartan 80 mg daily), presented to the emergency department with 18-hour gastric discomfort and fatigue. Five days prior to this presentation the patient had an episode of febrile gastroenteritis. The evening prior to presentation the patient had blood chemistries performed at an outside institution, where an increase of myocardial enzymes (troponin and CPK-MB) were noted. On presentation the patient was uncomfortable due to abdominal pain, but the clinical examination was almost normal. Blood pressure was 150/80 mmHg and heart rate was 60 beats/min. Cardiac S1 and S2 sounds where audible, without additional cardiac tones, murmurs, pericardial or pleural friction. There was no jugular venous distention, rales or peripheral edema present. Admission 12-lead electrocardiogram (ECG) demonstrated normal sinus rhythm with a rate of 60 beats/min, and early repolarization pattern with a slight J-point elevation in the lateral leads (I, aVL, V5, V6)

Clinical Utility of Cardiovascular Magnetic Resonance Imaging for Diagnosis of Acute Myocarditis

Cardiac magnetic resonance imaging (CMR) is a novel imaging technique that may help differentiate between myocarditis and acute coronary syndrome and compares favorably to other imaging techniques because it also provides information on tissue consistency and characteristics. We herein present a case, whereby CMR was most useful in providing such a differential diagnosis

The liberalization of the Greek electricity supply market

The motivation for this work is an interest in investigating the particular situations and circumstances that have emerged as the Greek electricity industry moves from its previous form of market organization as a vertically integrated state-owned monopoly to a new liberalized form of market incorporating competition. It should be noted that this market reform is introduced to Greece by the European Union and therefore this reform is externally motivated. Whilst progress has been made to the direction of the market reform, full liberalization has not been achieved. The analysis involves an initial discussion of the Greek electricity market, a literature review in order to identify gaps in the existing literature and then modelling the Greek electricity market. This modelling uses the kinked demand curve with price caps to show how the absence of time-varying tariffs can create opportunities for profitability for new entrants in a market when these new entrants are not obliged to serve the whole demand and at all times. We examine these markets using varying price caps and show how the level of the price cap, together with the size of the market, determines profitability. We examine specific cases where entry can occur in electricity markets that are facing transitionary periods or where asymmetric conditions might apply for various market participants. We use game theory to illustrate the specific cases that reflect conditions in the Greek case and we examine the foundations of the operation of the Greek political system to identify the effects on the Greek economy. We examine various patterns of system load using empirical data. We also examine data of wholesale electricity prices to identify the effect that the introduction of competition in the wholesale market has for the wholesale electricity prices as well as the dependency of wholesale electricity prices on international fuel prices. Through the examination of these data we observe the impact that political decisions might have on the electricity industry. The contribution to knowledge lies in illustrating how the specific conditions that exist within a political and economical setting like the Greek one can present obstacles to the introduction of changes and reforms. Considering liberalization of vi the electricity industry as a technical issue can be misleading. Pre-existing market distortions and cross-subsidizations that remain within the economic system as a result of industrial and social policies driven by cultural and political considerations are shown to have a significant impact to the market reform. Efforts targeted at making changes to increase economic efficiency and welfare are likely to meet significant obstacles. The important implication for policymakers has to do with the commitment to market reform, once this is decided. This commitment needs to go beyond the letter of the necessary reform conditions. It should extend into a true willingness by the political forces to give up control of the market so that competition can emerge. In terms of how liberalization should be delivered, we find that the use of asymmetric regulation can result in problematic and unsustainable market conditions and should therefore be used with caution. Also, transparency and information availability across the market are key issues and policy-makers should be made aware that this is to be taken care of.The motivation for this work is an interest in investigating the particular situations and circumstances that have emerged as the Greek electricity industry moves from its previous form of market organization as a vertically integrated state-owned monopoly to a new liberalized form of market incorporating competition. It should be noted that this market reform is introduced to Greece by the European Union and therefore this reform is externally motivated. Whilst progress has been made to the direction of the market reform, full liberalization has not been achieved. The analysis involves an initial discussion of the Greek electricity market, a literature review in order to identify gaps in the existing literature and then modelling the Greek electricity market. This modelling uses the kinked demand curve with price caps to show how the absence of time-varying tariffs can create opportunities for profitability for new entrants in a market when these new entrants are not obliged to serve the whole demand and at all times. We examine these markets using varying price caps and show how the level of the price cap, together with the size of the market, determines profitability. We examine specific cases where entry can occur in electricity markets that are facing transitionary periods or where asymmetric conditions might apply for various market participants. We use game theory to illustrate the specific cases that reflect conditions in the Greek case and we examine the foundations of the operation of the Greek political system to identify the effects on the Greek economy. We examine various patterns of system load using empirical data. We also examine data of wholesale electricity prices to identify the effect that the introduction of competition in the wholesale market has for the wholesale electricity prices as well as the dependency of wholesale electricity prices on international fuel prices. Through the examination of these data we observe the impact that political decisions might have on the electricity industry. The contribution to knowledge lies in illustrating how the specific conditions that exist within a political and economical setting like the Greek one can present obstacles to the introduction of changes and reforms. Considering liberalization of vi the electricity industry as a technical issue can be misleading. Pre-existing market distortions and cross-subsidizations that remain within the economic system as a result of industrial and social policies driven by cultural and political considerations are shown to have a significant impact to the market reform. Efforts targeted at making changes to increase economic efficiency and welfare are likely to meet significant obstacles. The important implication for policymakers has to do with the commitment to market reform, once this is decided. This commitment needs to go beyond the letter of the necessary reform conditions. It should extend into a true willingness by the political forces to give up control of the market so that competition can emerge. In terms of how liberalization should be delivered, we find that the use of asymmetric regulation can result in problematic and unsustainable market conditions and should therefore be used with caution. Also, transparency and information availability across the market are key issues and policy-makers should be made aware that this is to be taken care of

The "heroic journey" : managing the pedagogy and development of Business Studies teachers

This paper examines the use of the "Heroic Journey" framework from Joseph Campbell as a conceptual approach to manage the process of developing the teaching skills of academic teachers in Business Education, through the teaching of tutorials in the Management Development Programme (MDP) of the University of Strathclyde. Tutors' development during their time spent in the MDP, their learning and their evolution into academic teachers is presented through the monomyth structure of the "Hero’s Journey", as introduced by Campbell (2008). This paper offers constructive and valuable insights, based on practitioner's perspective, with the focus of the discussion and the recommendations being on the pedagogy of academic tutors in business schools. Through the author's reflections, based on his experiences as Director of MDP during 2017-20, it is suggested that tutor development is a continuous process of learning, and a journey of discovery for anyone involved in it. The implementation of this approach to manage the development of skills and knowledge-based competencies of teams can also be extended to other fields, making this approach a potential managerial tool with a larger scope for applications

The greek electricity market reforms : political and regulatory considerations

The paper tracks the evolution of the Greek electricity market since the beginning of the liberalization process. Its progress is benchmarked against the criteria suggested by Littlechild (2006b). The Littlechild framework highlights key remaining deficiencies in the stances and policies adopted which need to be resolved in order for liberalization to proceed successfully. The focus is on the agendas of the Greek government, other domestic political forces and the European Union. A central requirement is the clear commitment to liberalization by the Greek government. In particular the government needs to give up political control over the previous vertically integrated, state-controlled electricity firm, Public Power Company (PPC), and allow more decision making powers and genuine independence to the market regulator. Liberalization is rendered more difficult by the present financial and economic crisis in Greece