Vertically Related Markets of Collective Licensing of Differentiated Copyrights with Indirect Network Effects

This paper presents a theory of vertically interrelated markets of identical fixed size under implementation of positive indirect network effects. By introducing two Salop circles, a two-sided market model is provided, where intermediaries of differentiated copyrights for intellectual property, like performing rights organizations or publishers, compete as oligopsonists for owners of the intellectual property and as oligopolists for the users of their blanket licenses. We demonstrate, that an increase in competition benefits either license users or copyright owners or harms both groups. Moreover, if license users gain from an increased market entry, the owners of the intellectual property have to incur losses and vice versa.Vertical restraints, Indirect network effects, Copyright enforcement, Performing rights organizations, Music industry

An economic analysis of online streaming. How the music industry can generate revenues from cloud computing

This paper investigates the upcoming business model of online streaming services allowing music consumers either to subscribe to a service which provides free-of-charge access to streaming music and which is funded by advertising, or to pay a monthly flat fee in order to get ad-free access to the content of the service accompanied with additional benefits. By imposing a two-sided market model on the one hand combined with a direct transaction between the streaming service and its flat-rate subscribers on the other hand, the investigation shows that it can be highly profitable to launch a business which is free-of-charge for subscribers if advertising imposes a weak nuisance to music consumers. If this is the case, and by imposing an endogenously determined level of advertising which is provided by homogeneous advertisers, we find that a monopolistic streaming service increases the price for its flat-rate subscribers in order to stimulate free-of-charge demand and to capture higher revenues from advertisers. An extension of the model by illegal file-sharing shows that an increase in copyright enforcement shifts rents from music consumers to the monopolist. --Advertising media,Music industry,Online streaming,Piracy

A Note on Inflation and the Saving Rate

macroeconomics, inflation, saving rate

Creating employable graduates in career and technical education: Defining the partnership between business and the community college

The skill set required to attain quality employment is not being fully addressed in the community colleges. This disconnect produces laborers with skill sets that do not meet the needs of employers. Ironically, while the need for employees with increased skills rises annually, many graduates have difficulty finding employment in their career areas. Minimizing this disconnect will supply businesses with the skilled employees they need, thereby increasing graduate placement. This study describes a partnership between education and business at a rural midwestern community college. This partnership exists to facilitate the documentation of skills graduates will need to be employable through co-curricular definition by the education and business partners. The results of this research document the workings of the partnership and show how these partnerships can be defined using strategies like educational models or the business/education model

Financial Innovation and the Monetary Aggregates

macroeconomics, monetary aggregates, financial innovation

An economic analysis of online streaming : how the music industry can generate revenues from cloud computing

This paper investigates the upcoming business model of online streaming services allowing music consumers either to subscribe to a service which provides free-of-charge access to streaming music and which is funded by advertising, or to pay a monthly flat fee in order to get ad-free access to the content of the service accompanied with additional benefits. Both businesses will be launched by a single provider of streaming music. By imposing a two-sided market model on the one hand combined with a direct transaction between the streaming service and its flat-rate subscribers on the other hand, the investigation shows that it can be highly profitable to launch a business which is free-of-charge for subscribers if advertising imposes a weak nuisance to music consumers. If this is the case, and by imposing an endogenously determined level of advertising which will be provided by homogeneous advertisers, the analysis shows that the monopolistic streaming service increases the price for its flat-rate subscribers in order to stimulate free-of-charge demand and to capture higher revenues from advertisers. An extension of the model by illegal file-sharing reveals that an increase in copyright enforcement shifts rents from music consumers to the monopolistic provider, moreover a maximal punishment for piracy will be welfare-maximizing

Vertically related markets of collective licensing of differentiated copyrights with indirect network effects

This paper presents a theory of vertically interrelated markets of identical fixed size under implementation of positive indirect network effects. By introducing two Salop circles, a two-sided market model is provided, where intermediaries of differentiated copyrights for intellectual property, like performing rights organizations or publishers, compete as oligopsonists for owners of the intellectual property and as oligopolists for the users of their blanket licenses. We demonstrate, that an increase in competition benefits either license users or copyright owners or harms both groups. Moreover, if license users gain from an increased market entry, the owners of the intellectual property have to incur losses and vice versa

In Digital We Trust: The computerisation of retail finance in Western Europe and North America

This paper tells of the contents of a forthcoming volume, which offers a new and original approach to the study of technological change in retail finance. Most business history studies of businesses for the last 50 years note the emergence of computers and computer applications, but they do not analyze their role in shaping business practices and organizations. In this book we look directly at the processes of mechanisation and computerisation of retail financial services, throughout the 20th Century while articulating an international comparison. We bring together young, well established and independent historians, who come from different traditions (that is, economic, business, accounting, geography and political histories as well as historians of technology). Contributors look at stand alone and comparative case studies from different parts of the world (namely Britain, Denmark, France, Germany, Netherlands, Spain, Sweden, Mexico and the USA). The outcome is a rich survey of the broad literature examining different aspects of the technological and business histories of retail financial markets from a variety of perspectives.Retail finance, automation, Western Europe (Germany, UK, Spain, Netherlands, Sweden), North America (USA, Mexico)

The Belle of Australia or Who Am I?

https://commons.und.edu/settler-literature/1108/thumbnail.jp

Ethanol-induced oxidant stress modulates hepatic autophagy and proteasome activity.

In this review, we describe research findings on the effects of alcohol exposure on two major catabolic systems in liver cells: the ubiquitin-proteasome system (UPS) and autophagy. These hydrolytic systems are not unique to liver cells; they exist in all eukaryotic tissues and cells. However, because the liver is the principal site of ethanol metabolism, it sustains the greatest damage from heavy drinking. Thus, the focus of this review is to specifically describe how ethanol oxidation modulates the activities of the UPS and autophagy and the mechanisms by which these changes contribute to the pathogenesis of alcohol-induced liver injury. Here, we describe the history and the importance of cellular hydrolytic systems, followed by a description of each catabolic pathway and the differential modulation of each by ethanol exposure. Overall, the evidence for an involvement of these catabolic systems in the pathogenesis of alcoholic liver disease is quite strong. It underscores their importance, not only as effective means of cellular recycling and eventual energy generation, but also as essential components of cellular defense