The battle between standards: TCP/IP vs OSI victory through path dependency or by quality?

Between the end of the 1970s and 1994 a fierce competition existed between two possible standards, TCP/IP and OSI, to solve the problem of interoperability of computer networks. Around 1994 it became evident that TCP/IP and not OSI had become the dominant standard. We specifically deal with the question whether the current dominance of the TCP/IP standard is the result of third degree path dependency or of choices based on assessments of it being technical-economically superior to the OSI standard and protocols

Implementing the conjugate gradient algorithm on multi-core systems

In linear solvers, like the conjugate gradient algorithm, sparse-matrix vector multiplication is an important kernel. Due to the sparseness of the matrices, the solver runs relatively slow. For digital optical tomography (DOT), a large set of linear equations have to be solved which currently takes in the order of hours on desktop computers. Our goal was to speed up the conjugate gradient solver. In this paper we present the results of applying multiple optimization techniques and exploiting multi-core solutions offered by two recently introduced architectures: Intel’s Woodcrest\ud general purpose processor and NVIDIA’s G80 graphical processing unit. Using these techniques for these architectures, a speedup of a factor three\ud has been achieved

De Private Equity Golf

In de laatste decennia heeft private equity zich ontwikkeld tot een belangrijke component van ondernemingsfi nanciering. Private equity is een bron van fi nanciering voor start-up ondernemingen, private middelgrote ondernemingen, ondernemingen die geherstructureerd worden of onder nemingen die hun beursnotering willen beëindigen. De ontwikkelingsgang van private equity kent een golfpatroon dat gekenmerkt wordt door perioden van expansie en perioden van verschansing. Dit artikel beschrijft aan de hand van de recente literatuur de privateequitygolf, en de consequenties voor de verschillende partijen in de markt voor private equity, zoals de ondernemingen die privaat gefi nancierd worden, de investeringsmaatschappijen en de verschaffers van privaat vermogen

Consolidation Waves

This paper explains why consolidation acquisitions occur in waves and it predicts the differing role each firm is likely to play in the consolidation game. We propose that whether a firm assumes the role of rival consolidator, target, or passive observer depends on the position of the firm relative to the entity that merges first. Our model predicts that an initial acquisition triggers a wave of follow-on acquisitions, where the process of asset accumulation by the consolidator is accelerated since the value of follow-on acquisitions is enhanced by the more concentrated industry structure. An initial consolidation can trigger a consolidating acquisition by a rival in a remote market segment, while some firms prefer to be a target and others remain passive observers that await the outcome of the consolidation process rather than merge amongst themselves. Fragmentation, demand uncertainty, and investment costs determine the timing of acquisitions

Private Equity Waves

This study presents a dynamic model for the private equity market in which information revelation and uncertainty rationally explain the cyclical pattern of investment flows into private equity. The net benefit of private equity over public equity is i) uncertain and ii) agents have private information about the benefits of their investment. When these distinguishing characteristics determine investment behavior in private equity markets, rational investment waves may arise endogenously. Investment behavior reveals private information on the benefits of private equity financing and may trigger a cascade when investors jump on the bandwagon and invest irrespective of their private information content. We argue that the procyclical behavior of private equity volumes is strengthened by the revelation of information on the benefits of private equity investments. The occurrence and length of such waves in the market for private equity depend on the capabilities of agents

The Recent Cholera Outbreak in the South Mrican Gold Mining Industry

A large-scale cholera surveillance programme was introduced in South Africa in November 1973 as a result of the progressive southward spread of cholera in Africa. Moore's technique for the isolation of Salmonella paratyphi was modified for cholera detection. The method proved to be very sensitive and it was possible to detect Vibrio cholerae in main sewer lines after its casual and transient introduction by an unidentified carrier. Transmission occurred in the acc!im<:tisation centre, probably through the drinking of water contaminated after it had been drawn from the tap. Faecal contamination of the environment was demonstrated, and V. cho/erae was isolated from the floor, onto which it had been disseminated from the perianal region by means of profuse perspiration. Perpetuation of cholera was probably aided by a faecally contaminated air-humidifying water reservoir, the water of which experimentally allows survival and multiplication of V. cholerae for a week and longer. Prophylactic treatment of selected high-risk groups of people was administered in the form of doxycycline, which appeared to result in rapid termination of the epidemic. Mass vaccination of all mine personnel (20 000) was carried out to reduce the incidence of clinical cholera and the bacterial load

Acquisitions as a Real Options Bidding Game

This paper uses a unified treatment of real options and game theory to examine value appropriation in takeovers within a competitive environment of imperfect information. The integrated model considers a potential target as a shared real option on a bundle of resources. Competing potential buyers may sequentially perform due diligence and incur costs (option premium) to become informed about their firm-specific target value (underlying value) before making a bid (exercise price). The first player’s bid provides a signal on its own and rivals’ target value, thereby affecting potential bidders’ option value. The level of information costs and the option value, affected by heterogeneity between bidders (correlation), their expected target value, and uncertainty, determine value appropriation in acquisitions

Passende beoordeling voor Mosselzaadinvang (MZI) in Nederlandse kustwateren

Het voorgenomen plan is om op verschillende locaties in de Natura 2000-gebieden Waddenzee, Voordelta en Oosterschelde MZI-installaties te plaatsen en te exploiteren. Het gaat om 9 locaties in de Waddenzee (totaal oppervlak 545 ha, waarvan maximaal 500 ha in gebruik; in de 1e tranche die geldt voor de jaren 2010 en 2011 wordt hiervan 205 ha uitgegeven), 1 locatie in de Voordelta (totaal oppervlak 60 ha, waarvan 12 ha in de 1e tranche in gebruik) en 4 locaties in de Oosterschelde (totaal oppervlak 200 ha, waarvan in de 1e tranche 110 ha wordt uitgegeven). Indien de locaties volledig worden benut, worden er met uitzondering van de locatie Schaar van Renesse (Voordelta) en de locatie Zuidmeep (Waddenzee) geen significante negatieve effecten van de geselecteerde locaties op de Natura 2000-instandhoudingsdoelen verwacht. Voor de locatie Zuidmeep kunnen significante effecten niet worden uitgesloten voor het instandhoudingsdoel van de Bergeend, gezien de nabijheid van een ruigebied van deze soort. Voor de locatie Schaar van Renesse kunnen significante negatieve effecten van MZI’s niet met zekerheid worden uitgesloten voor het instandhoudingsdoel van de Roodkeelduiker, aangezien deze verstoringsgevoelige soort dan nog aanwezig is in het betreffende gebie