Market Segmentation and the Sources of Rents from Innovation: Personal Computers in the Late 1980's

This paper evaluates the sources of transitory market power in the market for personal computers (PCs) during the late 1980's. Our analysis is motivated by the coexistence of low entry barriers into the PC industry and high rates of innovative investment by a small number of PC manufacturers. We attempt to understand these phenomena by measuring the role that different principles of product differentiation (PDs) played in segmenting this dynamic market. Our first PD measures the substitutability between Frontier (386-based) and Non- Frontier products, while the second PD measures the advantage of a brand-name reputation (e.g., by IBM). Building on advances in the measurement of product differentiation, we measure the separate roles that these PDs played in contributing to transitory market power. In so doing, this paper attempts to account for the market origins of innovative rents in the PC industry. Our principal finding is that, during the late 1980's, the PC market was highly segmented along both the Branded (B versus NB) and Frontier (F versusNF) dimensions. The effects of competitive events in any one cluster were confined mostly to that particular cluster, with little effect on other clusters. For example, less than 5% of the market share achieved by a hypothetical entrant would be market-stealing from other clusters. In addition, the product diffe- rentiation advantages of B and F were qualitatively different. The main advantage of F was limited to the isolation from NF competitors it provided; Brandedness both shifted out the product demand curve as well as segmenting B products from NB competition. These results help explain how transitory market power (arising from market segmentation) shaped the underlying incen- tives for innovation in the PC industry during the mid to late 1980s.

Capital trading, stock trading, and the inflation tax on equity: a note

The authors show that there is more responsiveness of consumption and output to changes in the money supply than exists in the standard neoclassical growth models.Capital investments

THE RELATIONSHIP BETWEEN MUSCULOSKELETAL STRENGTH, PHYSIOLOGICAL CHARACTERISTICS, AND KNEE KINESTHESIA FOLLOWING FATIGUING EXERCISE

Fatiguing exercise may result in impaired functional joint stability and increased risk of unintentional injury. While there are several musculoskeletal and physiological characteristics related to fatigue onset, their relationship with proprioceptive changes following fatigue has not been examined. The purpose of this study was to establish the relationship between musculoskeletal and physiological characteristics and changes in proprioception, measured by threshold to detect passive motion (TTDPM), following fatiguing exercise. Twenty, physically active females participated (age: 28.65 ± 5.6 years, height: 165.6 ± 4.3 cm, weight: 61.8 ± 8.0 kg, BMI: 22.5± 2.3 kg/m2, BF: 23.3 ± 5.4%). During Visit 1, subjects completed an exercise history and 24-hour dietary questionnaire, and body composition, TTDPM familiarization, isokinetic knee strength, and maximal oxygen uptake/lactate threshold assessments. During Visit 2, subjects completed TTDPM and isometric knee strength testing prior to and following a fatiguing exercise protocol. Wilcoxon signed rank tests determined TTDPM and isometric knee strength changes from pre- to post- fatigue. Spearman’s rho correlation coefficients determined the relationship between strength and physiological variables with pre- to post-fatigue changes in TTDPM and with pre-fatigue and post-fatigue TTDPM in extension and flexion (α=0.05). No significant differences were demonstrated from pre-fatigue to post-fatigue TTDPM despite a significant decrease in isometric knee flexion strength (P<0.01) and flexion/extension ratio (P<0.05) following fatigue. No significant correlations were observed between strength or physiological variables and changes in TTDPM from pre- to post-fatigue in extension or flexion. Flexion/extension ratio was significantly correlated with pre-fatigue TTDPM in extension (r=-0.231, P<0.05). Peak oxygen uptake was significantly correlated with pre-fatigue (r=-0.500, P<0.01) and post-fatigue (r=-0.520, P<0.05) TTDPM in extension. No significant relationships were demonstrated between musculoskeletal and physiological characteristics and changes in TTDPM following fatigue. The results suggest that highly trained individuals may have better proprioception, and that the high fitness level of subjects in this investigation may have contributed to absence of TTDPM deficits following fatigue despite reaching a high level of perceptual and physiological fatigue. Future studies should consider various subject populations, other musculoskeletal strength characteristics, and different modalities of proprioception to determine the most important contributions to proprioceptive changes following fatigue

APOBEC-related mutagenesis and neo-peptide hydrophobicity: implications for response to immunotherapy.

Tumor-associated neo-antigens are mutated peptides that allow the immune system to recognize the affected cell as foreign. Cells carrying excessive mutation load often develop mechanisms of tolerance. PD-L1/PD-1 checkpoint immunotherapy is a highly promising approach to overcome these protective signals and induce tumor shrinkage. Yet, the nature of the neo-antigens driving those beneficial responses remains unclear. Here, we show that APOBEC-related mutagenesis - a mechanism at the crossroads between anti-viral immunity and endogenous nucleic acid editing - increases neo-peptide hydrophobicity (a feature of immunogenicity), as demonstrated by in silico computation and in the TCGA pan-cancer cohort, where APOBEC-related mutagenesis was also strongly associated with immune marker expression. Moreover, APOBEC-related mutagenesis correlated with immunotherapy response in a cohort of 99 patients with diverse cancers, and this correlation was independent of the tumor mutation burden (TMB). Combining APOBEC-related mutagenesis estimate and TMB resulted in greater predictive ability than either parameter alone. Based on these results, further investigation of APOBEC-related mutagenesis as a marker of response to anti-cancer checkpoint blockade is warranted

Click Chemistry in Materials Science

Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/106803/1/adfm201302847.pd

Bayesian model-based age classification using small mammal body mass and capture dates

Accurate age determination is a fundamental prerequisite for demographic studies as well as population monitoring efforts that provide information for management and conservation. Yet, common age determination methods suffer from low accuracy rates, impose additional handling and time costs on animals and biologists, or rely on invasive techniques such as tooth extraction. We introduce an alternative, mixture modeling approach for age determination that exploits mammalian growth patterns to classify newly encountered animals as juveniles or adults, and present an example analysis that classifies Allegheny woodrats based solely on their capture dates and mass at capture, in combination with data from known adults. We also introduce and validate a simulation-based heuristic to evaluate potential classification accuracy when no known-age test cases are available. In the Allegheny woodrat example, the mixture model achieved a 90–92% accuracy rate (heuristic range: 89–94%), far better than the 36–43% achieved with a fixed mass criterion, and comparable to accuracies reported for other species using more data-intensive, multivariate classification techniques. The model can be extended to classify multiple age groups, estimate chronological age, or further improve accuracy by including additional morphometric measures

Diet and Selection of Major Prey Species by Lake Michigan Salmonines, 1973–1982

To elucidate prey preferences, we quantified stomach contents of 1,231 salmonines collected from inshore (21 m or shallower) southeastern Lake Michigan during 1973–1982. Predators ate 12 species of fish. Alewife Alosa pseudoharengus made up 48–79% by weight of the diet of brown trout Salmo trutta, chinook salmon Oncorhynchus tshawytscha, coho salmon Oncorhynchus kisutch, lake trout Salvelinus namaycush, and rainbow trout Salmo gairdneri. Alewives eaten ranged from 23 to 245 mm total length; 46% were 150–200 mm. Rainbow smelt Osmerus mordax eaten were 21–245 mm long and made up 4–11% of the salmoninesˈ prey. There were significant direct linear relationships between lengths of alewives and rainbow smelt eaten and lengths of the five predators. Alewives are currently declining in Lake Michigan. If their population collapses, there should be a shift to alternative prey species. We have seen no such shift through 1982, although more recent data of other investigators show a decline in the importance of alewife in salmonine diets. Diets of the midwater‐feeding chinook and coho salmon were heavily dominated by the pelagic alewife, whereas brown and lake trout diets were more diverse. This suggests that trout should have better survival and growth than salmon, because trout would be able to utilize the more benthic yellow perch, Perca flavescens, rainbow smelt, and, to some degree, bloater Coregonus hoyi. The latter species are becoming more abundant with the decline in alewife. Under the current salmonine stocking regime, alewives will continue to supply a lower and variable portion of the salmonine diet, and predatory pressure on alewife should lead to increases in endemic prey speciesˈ populations.Peer Reviewedhttps://deepblue.lib.umich.edu/bitstream/2027.42/141728/1/tafs0677.pd

Simulation of Fixed– and Variable–Rate Application of Granular Materials

Research has shown that application errors exist with variable–rate technology (VRT) systems. Consequently, using prescription maps for economic and agronomic analyses can generate misleading results. The intent of this article was to develop and validate a spatial data model for generating “as–applied” maps to support the advancement of precision agriculture practices. Previous research modified ASAE Standard S341.2 to include a 2–D matrix of collection pans to assess fixed–rate and variable–rate (VR) deposition of granular fertilizers and agricultural lime from a spinner disc spreader. The “as–applied” spatial data model uses GIS functionality to generate “as–applied” surfaces by merging distribution patterns and a spatial field application file (FAF) into an “as–applied” surface representing the actual distribution of granular fertilizer or agricultural lime across a field. To validate the “as–applied” spatial data model, field studies were conducted by randomly placing collection pans across two fields. Murate of potash was then applied using a VR spinner spreader. The “as–applied” spatial data model was used to predict the amount of material each pan should have received. Comparisons were made between the actual and predicted application rates for two fields, with R2 values of 0.45 (field A) and 0.58 (field B) computed. However, R2 values of 0.16 (field A) and 0.21 (field B) were observed when comparing the actual application rates and prescription maps. These low R2 values indicated poor application by the spinner spreader but demonstrated that the “as–applied” model did a better job of representing the distribution of murate of potash when contrasted with the prescription maps. “As–applied” surfaces provide a means for evaluating fixed–rate and VR application of granular products while enhancing researchers’ ability to compare VR management approaches

The wave of wood : forestry's economic contribution to South Carolina's economy in 2018

The purpose of this study is to update the economic contribution of forestry to South Carolina's economy for 2018 and to show the relative magnitude of forestry's major sectors. This study includes business sectors that have a direct and logical connection to the state's forest resource