Alternating-move Hotelling with Demand Shocks

In this paper an infinite-horizon alternating-move Hotelling model in which consumers are uniformly distributed over the market is considered. In a Markov perfect equilibrium, a seller’s move in any period depends on the price the other seller is committed to. The analytic solution is given and the unique linear Markov perfect equilibrium is computed for different values of the discount factor. The base model is then extended by the introduction of exogenous demand shocks which makes finding an analytical solution using the conventional analysis impossible. For this extended model the margin in which long-run prices fluctuate is determined for different values of the shock probability. It is found that the prices set in the high demand state are always lower than in the low demand state. Thus, our findings would support a notion of counter cyclical pricing with respect to the state of demand.Industrial Organization;

Alternating-move hotelling with demand shocks

In this paper an infinite-horizon alternating-move Hotelling model in which consumers are uniformly distributed over the market is considered. In a Markov perfect equilibrium, a seller’s move in any period depends on the price the other seller is committed to. The analytic solution is given and the unique linear Markov perfect equilibrium is computed for different values of the discount factor. The base model is then extended by the intro-duction of exogenous demand shocks which makes finding an analytical solution using the conventional analysis impossible. For this extended model the margin in which long-run prices fluctuate is determined for different values of the shock probability. It is found that the prices set in the high demand state are always lower than in the low demand state

The Improvement of Field Tests Used for the Evaluation of a Soil\u27s Liquefaction Resistance

Abstract A phenomenon of earthquakes known as liquefaction can cause severe damage and deformation to areas near an earthquake. Because of this, a focus of geotechnical engineering is the mitigation of these effects. In order for liquefaction’s effects to be best mitigated, the desired soil’s liquefaction resistance must be evaluated. The evaluation of a soil’s liquefaction is based on a curve called the CRR curve, which is typically developed from a particular aspect of one of the four main field tests used for the evaluation of a soil’s liquefaction resistance. However, these curves do not always lead to the accurate evaluation of a soil’s liquefaction resistance, and as a result, many revisions have been made over time to the CRR curves and the tests used to develop these curves in the hopes of best evaluating soils’ liquefaction resistance. While these revisions have led to more accurate CRR curves, there are still cases in which these curves lead to the inaccurate evaluation of a soil’s liquefaction resistance, which suggests that future revisions can be made. This proposal strives to determine which test aspects are in most need of improvement in order to promote the continued improvement of a soil’s liquefaction resistance evaluation

Evaluation of Haematological and Biochemical Parameters of Juvenile Oreochromis niloticus after Exposure to Water Soluble Fractions of Crude Oil

The influence of water soluble fraction of crude oil from Afiesere oil field on water qualitycomponents and its consequent effect on haematological and biochemical parameters in juveniles of Oreochromis niloticus were evaluated. After a preliminary determination of the 96 h-LC50 of crude oil by probit regression was found to be 92.38 mg/l, fish were exposed to 4 sub-lethal concentrations (30, 45, 60 and 75% of the LC50 corresponding to 28, 41, 55 and 69 mg/l respectively) of the oil and a control. After 84 days of exposure, blood was collected and used in conducting haematological and biochemical analyses. Exposure of water to crude oil caused increased levels in chloride, conductivity, salinity, magnesium, biochemical oxygen demand, chemical oxygen demand, turbidity and Nitrate. The crude oil contaminated water resulted in a significant reduction (p<0.05) in the values of red blood cells, packed cell volume and haemoglobin. Although no definite trend in the values of computed haematological indices was observed, MCHC, however, decreased with increased concentration. Also, Glucose, ALP, ALT, AST, Urea and creatinine activities of all the affected set of fish, which have been exposed to the crude oil were significantly higher (p<0.05) in comparison to their respective control. Keywords: Crude oil, Afiesere oil field, blood, toxicity, water quality, Oreochromis niloticu