Optimal Divisionalization for Selling Networks of Cable Television Services

In this article, a condition for the optimal division’s number is calculated, for a market with two cable operators who offer a network service. The rationale for justifying the partial covering of the national market from the cable operators is presented. Furthermore, a problem of moral hazard is revealed, which is able to appear through the implementation of franchising schemes with independent divisions. This is particularly interesting because it can be applied to several industries such as Cable Television and Entertainment, and other activities including Internet and Computer Games Centres, which offer Internet broadband access and network games.Cable Television, Divisionalization, Franchising.

Uncertain delivery in markets for lemons

The notion of uncertain delivery is extended to study exchange economies in which agents have different abilities to distinguish between goods (for example a car in good condition versus a car in bad condition). In this setting, it is useful to distinguish goods not only by their physical characteristics,but also by the agent that is bringing them to the market. Equilibrium is shown to exist, and characterized by the fact that agents always receive the cheapest bundle among those that they cannot distinguish from truthful delivery. Several examples are presented as an illustration.General equilibrium, Asymmetric information, Adverse selection, Uncertain delivery, Pool, Delivery rates

The spectral dimension of non-generic branched polymers

We show that the spectral dimension on non-generic branched polymers with positive susceptibility exponent is given by $d_s=2/(1+\gamma)$. For those models with $\gamma<0$ we find that $d_s=2$.Comment: LATTICE98(surfaces

The Spectral Dimension of Non-generic Branched Polymer Ensembles

We show that the spectral dimension on non-generic branched polymer models with susceptibility exponent $\gamma$ is given by $2/(1+\gamma)$. For those models with negative $\gamma$ we find that the spectral dimension is 2.Comment: 10 pages plain LateX2e, 1 eps figures included using eps

Remediation by Means of Chemical Passivation for Trace Metals in Contaminated Soils

Soil contamination is a predominant issue today in China. Recently, different remedies have been implemented to effectively immobilize contaminants, such as heavy metals, from soil. This project studied the efficiencies of phosphate in fish bones and aluminosilicate in clay to immobilize cadmium, chromium, copper, lead, and zinc in a heavily contaminated sample of yellow-brown soil from the Hetao region of Inner Mongolia, China. The heavy metals found in samples of soil were sequentially extracted and analyzed by atomic absorption spectroscopy. Results showed that both samples had the most significant immobilization fraction during the first two weeks of treatment, and that agent A was best to treat chromium and zinc, while agent B was favorable to treat cadmium, copper, and lead

Subjective Expectations Equilibrium in Economies with Uncertain Delivery

In economies with uncertain delivery, agents trade their endowments for lists instead of bundles. A list specifies a set of bundles such that the agent has the right to receive one of them. In this paper, with continuity conditions on private beliefs about the bundle that will be delivered, we establish existence of a subjective expectations equilibrium.Private information, Uncertain delivery, Subjective expectations equilibrium, General equilibrium, Incomplete information, Real options.

Globalization and wine business: Port wine

In the past two decades the world has seen acceleration in the process of globalisation, affecting virtually all industries and consumers. The wine sector is no exception, witnessing increased exports and imports, decreasing consumption per capita in the producing countries, and a wave of direct foreign investment and mergers and acquisitions in the industry. Among European wine producers the Port wine can be seen as a representative case of globalisation and as a benchmark, because almost 90% of its production is exported. With this in mind, the main objective of this paper is to analyse the structure and behaviour of the Port wine chain in terms of industrial organisation and trade. To achieve this objective a survey about the role of organisations in national growth and descriptions of the European wine industry and of the Port wine chain was conducted. Moreover, we identify and characterise the dynamics of production, price and trade of the Port wine after World War II. Despite the Port wine activity having been subjected to cycles there has been a trend toward a continued increase in production and exports, stabilisation of real market prices and a slight increase in the real prices paid to grape growers, leading to positive economic effects for Port wine firms and grape growers. The pro-active behaviour of Port wine chain agents contributed to this result, namely exporters who were able to adopt market strategies to respond to the challenges of globalisation.International Relations/Trade,

Two-period economies with private state verification

Private state verification is introduced in a two-period economy with spot markets in both periods and complete futures markets for contingent delivery in the second period. Existence of equilibrium is established, under standard assumptions. An example is presented in which a complete set of contingent markets allows agents to arrive at the optimal allocation of risk-bearing, while securities are not sufficient.General equilibrium, Asymmetric information, Private state verification, Two-period economies

Prudent Expectations Equilibrium in Economies with Uncertain Delivery

In an economy with private information, we introduce the notion of objects of choice as lists of bundles out of which the market selects one for delivery. This leads to an extension of the model of Arrow-Debreu that is used to study ex-ante trade with private state verification. The model does not require agents to have complete information about the space of states, being suited to a context of Knightian uncertainty. Under the assumption that agents are prudent, equilibrium is characterized by the fact that agents consume bundles with the same utility in states that they do not distinguish.General equilibrium, Private information, Incomplete information, Knightian uncertainty, Ambiguity, Uncertain delivery, Lists of bundles.