Defining Markets That Involve Multi-Sided Platform Businesses: An Empirical Framework With an Application to Google's Purchase of DoubleClick

A multi-sided platform (MSP) serves as an intermediary for two or more groups of customers who are linked by indirect network effects. Recent research has found that MSPs are significant in many industries and that some standard economic results, such as the Lerner Index, do not apply to them, in material ways, without some significant modification to take linkages between the multiple sides into account. This article extends several key tools used for the analysis of mergers to situations in which one or more of the suppliers are MSPs. It shows that the application of traditional tools to mergers involving MSPs results in biases the direction of which depends on the particular tool being used and other conditions. It also extends these tools to the analysis of the merger of MSPs. The techniques are illustrated with an application to an acquisition by Google in the online advertising industry.

Young LMC clusters: the role of red supergiants and multiple stellar populations in their integrated light and CMDs

The optical integrated spectra of three LMC young stellar clusters (NGC 1984, NGC 1994 and NGC 2011) exhibit concave continua and prominent molecular bands which deviate significantly from the predictions of single stellar population (SSP) models. In order to understand the appearance of these spectra, we create a set of young stellar population (MILES) models, which we make available to the community. We use archival International Ultraviolet Explorer integrated UV spectra to independently constrain the cluster masses and extinction, and rule out strong stochastic effects in the optical spectra. In addition, we also analyze deep colour-magnitude diagrams of the clusters to provide independent age determinations based on isochrone fitting. We explore hypotheses including age-spreads in the clusters, a top-heavy initial mass function, different SSP models and the role of red supergiant stars (RSG). We find that the strong molecular features in the optical spectra can only be reproduced by modeling an increased fraction of about 20 per cent by luminosity of RSG above what is predicted by canonical stellar evolution models. Given the uncertainties in stellar evolution at Myr ages, we cannot presently rule-out the presence of Myr age-spreads in these clusters. Our work combines different wavelengths as well as different approaches (resolved data as well as integrated spectra for the same sample) in order to reveal the complete picture. We show that each approach provides important information but in combination can we better understand the cluster stellar populations.Comment: Accepted for publication in MNRA

SALMON RECOVERY IN THE COLUMBIA RIVER BASIN: ANALYSIS OF MEASURES AFFECTING AGRICULTURE

The effects of salmon recovery measures on the Northwest agricultural sector are evaluated. Relevant recovery measures, such as: modified timing for dam releases, reservoir drawdown, and flow augmentation in the Columbia River basin, on the regional agricultural sector are evaluated. Combined, these measures would increase power rates, grain transportation costs, and irrigation water costs and reduce the supply of water to irrigators. We quantify these input cost and quantity changes and combine them into seven recovery scenarios for analysis. Results suggest that drawdown and/or minor reductions in irrigation water diversions would reduce producers' profits by less than 1% of baseline levels. However, the most extreme scenario-a long drawdown period combined with a large reduction in irrigation diversions-would reduce producers' profits by $35 million (2.5$35 million decline in annual profits, more than $27 million occur in southern Idaho and eastern Oregon. The federal government would bear these costs if it acquires water via voluntary transactions.Agricultural and Food Policy, Resource /Energy Economics and Policy,

Discrimination of prostate cancer cells and non-malignant cells using secondary ion mass spectrometry

This communication utilises Time-of-Flight Secondary Ion Mass Spectrometry (ToF-SIMS) combined with multivariate analysis to obtain spectra from the surfaces of three closely related cell lines allowing their discrimination based upon mass spectral ions

POLICY DIRECTIONS TO MITIGATE WATER-SUPPLY RISK IN IRRIGATED AGRICULTURE: A FEDERAL PERSPECTIVE

Water reallocation to meet mandated flow requirements and trust responsibilities, established in Federal law and water authority, can result in large uncompensated losses to irrigated agriculture. This paper discusses the nature and potential cost of water-supply interruptions due to Federal actions, and provides a comparative assessment of alternative risk-mitigation measures.Resource /Energy Economics and Policy,

Reforestation success can be enhanced by improving tree planting methods

Successful cost-effective reforestation plantings depend substantially on maximising sapling survival from the time of planting, yet in reforestation programs remarkably little attention is given to management of saplings at the planting stage and to planting methods used. Critical determinants of sapling survival include their vigour and condition when planted, the wetness of the soil into which saplings are planted, the trauma of transplant shock from nursery to natural field soils, and the method and care taken during planting. While some determinants are outside planters' control, careful management of specific elements associated with outplanting can significantly lessen transplanting shock and improve survival rates. Results from three reforestation experiments designed to examine cost-effective planting methods in the Australian wet tropics provided the opportunity to examine the effects of specific planting treatments, including (1) watering regime prior to planting, (2) method of planting and planter technique, and (3) site preparation and maintenance, on sapling survival and establishment. Focusing on sapling root moisture and physical protection during planting improved sapling survival by at least 10% (>91% versus 81%) at 4 months. Survival rates of saplings under different planting treatments were reflected in longer-term survival of trees at 18–20 months, differing from a low of 52% up to 76–88%. This survival effect was evident more than 6 years after planting. Watering saplings immediately prior to planting, careful planting using a forester's planting spade in moist soil and suppressing grass competition using appropriate herbicides were critical to improved plant survival

Excitation of the classical-limit state of an atom

We describe a technique designed to excite a classical-limit state of an atom. A picosecond electric field pulse converts a circular state into a Rydberg wave packet which is localized in all three dimensions and travels along a classical Kepler orbit with arbitrary ellipticity

Excitation of the classical-limit state of an atom

We describe a technique designed to excite a classical-limit state of an atom. A picosecond electric field pulse converts a circular state into a Rydberg wave packet which is localized in all three dimensions and travels along a classical Kepler orbit with arbitrary ellipticity