Online Price Dispersion Within and Between Seven European Countries

This paper provides a comprehensive analysis of online price dispersion in Europe, across a broad range of product categories and countries. Using the dominant European price comparison site we collected firm specific prices, weekly, from sevcn European countries (Denmark, France, Italy, Netherlands, Spain, Sweden and the United Kingdom) for 31 unique products, falling into five distinct product categories (printers, PDAs, scanners, games consoles, computer games and music), over the nine month period October 2001 to June 2002. The resulting data set comprises over 17,000 individual price observations. Using a number of alternative measures of price dispersion we find significant differences in the degree of price dispersion observed in online markets, both between countries and across product categories. We consider alternative explanations for online price dispersion and analyse their significance in explaining the observed differences

Did the Euro Foster Online Price Competition? Evidence from an International Price Comparison Site

We study the impact of the Euro on prices charged by online retailers within the EU. Our data spans the period before and after the Euro was introduced, covers a variety of products, and includes countries inside and outside of the Eurozone. After controlling for cost, demand, and market structure effects, we show that the pure Euro changeover effect is to raise average prices in the Eurozone by 3% and average minimum prices by 7%. Finally, we develop a model of online pricing in the context of currency unions, and show that these price patterns are broadly consistent with clearinghouse models.Price competition, internet

Clicks, Discontinuities, and Firm Demand Online

The market values of online platforms, such as Yahoo, stem from their ability to monetize the clicks they generate for firms advertising on their sites. We exploit a unique dataset on clicks from one of Yahoo's price comparison sites to estimate the determinants of clicks received by online retailers. We find that a firm enjoys a 60% jump in its clicks when it offers the lowest price at the site. This discontinuity is consistent with a variety of models that have been used to rationalize the price dispersion observed in online markets. We also show that one may use estimates of the determinants of a firm's clicks to obtain bounds on its underlying demand parameters, including own- and cross-price elasticities. Our results have potentially significant ramifications for online retailers, platforms, and policymakers: Failure to account for discontinuities distorts parameter estimates by 50 to 100 percent.

Estimating Firm-Level Demand at a Price Comparison Site: Accounting for Shoppers and the Number of Competitors

Clearinghouse models of online pricing---such as Varian (1980), Rosenthal (1980), Narasimhan (1988), and Baye-Morgan (2001)---view a price comparison site as an 'information clearinghouse' where shoppers and loyals obtain price and product information to make online purchases. These models predict that the responsiveness of a firm's demand to a change in its price depends on the number of sellers and whether the price change results in the firm charging the lowest price in the market. Using a unique firm-level dataset from Kelkoo.com (Yahoo!'s European price comparison site), we examine these predictions by providing estimates of the demand for PDAs. Our results indicate that the number of competing sellers and both the firm's location on the screen and relative ranking in the list of prices are important determinants of an online retailer's demand. We find that an online monopolist faces an elasticity of demand of about -2, while sellers competing against 10 other sellers face an elasticity of about -6. We also find empirical evidence of a discontinuous jump in a firm's demand as its price declines from the second-lowest to the lowest price. Our estimates suggest that about 13% of the consumers at Kelkoo are 'shoppers' who purchase from the seller offering the lowest price.Internet, Price Dispersion, Advertising

Imaging using quantum noise properties of light

We show that it is possible to estimate the shape of an object by measuring only the fluctuations of a probing field, allowing us to expose the object to a minimal light intensity. This scheme, based on noise measurements through homodyne detection, is useful in the regime where the number of photons is low enough that direct detection with a photodiode is difficult but high enough such that photon counting is not an option. We generate a few-photon state of multi-spatial-mode vacuum-squeezed twin beams using four-wave mixing and direct one of these twin fields through a binary intensity mask whose shape is to be imaged. Exploiting either the classical fluctuations in a single beam or quantum correlations between the twin beams, we demonstrate that under some conditions quantum correlations can provide an enhancement in sensitivity when estimating the shape of the object

Embedding monomers and dimers of sulfonamide antibiotics into high silica zeolite Y: an experimental and computational study of the tautomeric forms involved

This work is a second step towards the systematic study of the embedding of sulfonamide antibiotics into a synthetic high silica zeolite Y (HSZ-Y) with hydrophobic properties. In the previous paper [Braschi et al., Langmuir 2010, 31, 9524], the irreversible adsorption from water into HSZ-Y of three sulfonamides was studied by enlightening the host-guest interactions and, in the case of the smallest sized sulfadiazine, the guest-guest interactions of dimeric species inside the zeolite cage. Here the HSZ-Y was loaded with six sulfonamides, namely: sulfanilamide, sulfapyridine, sulfathiazole, sulfadimethoxine, sulfadoxine and sulfamerazine. With the exception of sulfanilamide, which showed scarce affinity for HSZ-Y (maximum loading 3% zeolite dry weight), the other sulfa drugs adsorbed at ca. 28% zeolite dry weight on average, and this is relevant for both water depollution and drug delivery issues. The low affinity of sulfanilamide for HSZ-Y was ascribed to its high hydrophilicity (water solubility 15-40 times higher than other drugs). The most stable tautomeric (amide or imide) form of each antibiotic adsorbed in zeolite Y was proposed by means of IR and solid state NMR spectroscopy augmented by computational modelling. The small dimensions and favourable stabilization energy allow the embedding of imidic and amidic dimers of sulfathiazole and sulfapyridine, respectively, inside the zeolite cage whereas the remaining sulfa drugs adsorbed in monomeric amidic form

Mussel farming production capacity and food web interactions in a mesotrophic environment

Low trophic aquaculture (LTA), such as bivalve farming, offers promising avenues to supply sustainable seafood and aquafeed. While bivalve farming usually occurs in highly productive coastal areas which already support numerous human activities and suffer from environmental pressures, numerical tools offer a promising avenue to explore and assess biomass production potential and associated ecosystemic impacts for further development of the industry and prospection of new exploitation sites. In this study, we coupled an ecophysiological model, the dynamic energy budget theory (DEB), with an ecosystem model (NORWECOM.E2E) to simulate blue mussel Mytilus spp. farming production and effects based on the food web in the mesotrophic Hardangerfjord in western Norway. We tested several levels of fjord-scale farming intensity and assessed 2 production purposes: aquafeed and human consumption. Results suggested the Hardangerfjord could host large-scale mussel farming for both purposes. However, large exploitation schemes displayed detrimental effects on individual mussel growth (39% less wet mass after 2 yr) and especially on secondary production (decrease of 33% after 1 yr) due to acute trophic competition. Simulations showed short production cycles for aquafeed were more efficient to exploit primary production, since young and small mussels have lower maintenance and reproduction costs. Dissolved nutrient inputs from salmonid farms had marginal effects on primary production (<2%). However, salmonid and mussel farming activities could compete for the sites with the highest production potential.publishedVersio

Virial theorem in the Kohn-Sham density-functional theory formalism: Accurate calculation of the atomic quantum theory of atoms in molecules energies

A new approach for computing the atom-in-molecule [quantum theory of atoms in molecule (QTAIM)] energies in Kohn-Sham density-functional theory is presented and tested by computing QTAIM energies for a set of representative molecules. In the new approach, the contribution for the correlation-kinetic energy (