Economics and Politics: Perspectives on the Goals and Future of Antitrust

This Article examines the roles of economics and politics in U.S. antitrust from several perspectives. It explains why the modern debate over the economic welfare standard that enforcers and courts should pursue is unsatisfying. It connects economics with politics by describing antitrust’s economic goals as the product of a mid-twentieth century political understanding about the nature of economic regulation that continues to be accepted. To protect that understanding, it explains, antitrust rules should now be implemented using a qualified consumer welfare standard. It identifies contemporary political tensions that threaten to create regulatory gridlock or even to undermine that political understanding and uses that framework to sketch several possible futures for competition policy. Notwithstanding these political tensions, the Article concludes, economics plays an indispensable role in shaping and applying modern antitrust

Critical oxygenation: Can muscle oxygenation inform us about critical power?

The power-duration relationship is well documented for athletic performance and is formulated out mathematically in the critical power (CP) model. The CP model, when applied properly, has great predictive power, e. g. pedaling at a specific power output on an ergometer the model precisely calculates the time over which an athlete can sustain this power. However, CP presents physiological inconsistencies and process-oriented problems. The rapid development of near-infrared spectroscopy (NIRS) to measure muscle oxygenation (SmO2) dynamics provides a physiological exploration of the CP model on a conceptual and empirical level. Conceptually, the CP model provides two components: first CP is defined as the highest metabolic rate that can be achieved through oxidative means. And second, work capacity above CP named W’. SmO2 presents a steady-state in oxygen supply and demand and thereby represents CP specifically at a local level of analysis. Empirically, exploratory data quickly illustrates the relationship between performance and SmO2, as shown during 3-min allout cycling tests to assess CP. During these tests, performance and SmO2 essentially mirror each other, and both CP and W’ generate solid correlation with what would be deemed their SmO2 counterparts: first, the steady-state of SmO2 correlates with CP. And second, the tissue oxygen reserve represented in SmO2, when calculated as an integral corresponds to W’. While the empirical data presented is preliminary, the proposition of a concurring physiological model to the current CP model is a plausible inference. Here we propose that SmO2 steady-state representing CP as critical oxygenation or CO. And the tissue oxygen reserve above CO would then be identified as O’. This new CO model could fill in the physiological gap between the highly predictive CP model and at times its inability to track human physiology consistently. For simplicity’s sake, this would include acute changes in physiology as a result of changing climate or elevation with travel, which can affect performance. These types of acute fluctuations, but not limited to, would be manageable when applying a CO model in conjunction with the CP model. Further, modeling is needed to investigate the true potential of NIRS to model CP, with a focus on repeatability, recovery, and systemic vs local workloads

Black Holes on FIRE: Stellar Feedback Limits Early Feeding of Galactic Nuclei

We introduce massive black holes (BHs) in the Feedback In Realistic Environments project and perform high-resolution cosmological hydrodynamic simulations of quasar-mass halos ($M_{\rm halo}(z=2) \approx 10^{12.5}\,\rm{M}_{\odot}$) down to $z=1$. These simulations model stellar feedback by supernovae, stellar winds, and radiation, and BH growth using a gravitational torque-based prescription tied to resolved properties of galactic nuclei. We do not include BH feedback. We show that early BH growth occurs through short ($\lesssim 1\,$Myr) accretion episodes that can reach or even exceed the Eddington rate. In this regime, BH growth is limited by bursty stellar feedback continuously evacuating gas from galactic nuclei, and BHs remain under-massive relative to the local $M_{\rm BH}$-$M_{\rm bulge}$ relation. BH growth is more efficient at later times, when the nuclear stellar potential retains a significant gas reservoir, star formation becomes less bursty, and galaxies settle into a more ordered state, with BHs rapidly converging onto the scaling relation when the host reaches $M_{\rm bulge} \sim 10^{10}\,\rm{M}_{\odot}$. Our results are not sensitive to the details of the accretion model so long as BH growth is tied to the gas content within $\sim 100\,$pc of the BH. Our simulations imply that bursty stellar feedback has strong implications for BH and AGN demographics, especially in the early Universe and for low-mass galaxies.Comment: 5 pages, 3 figures, submitted to MNRA

Measuring dynamical masses from gas kinematics in simulated high-redshift galaxies

Advances in instrumentation have recently extended detailed measurements of gas kinematics to large samples of high-redshift galaxies. Relative to most nearby, thin disc galaxies, in which gas rotation accurately traces the gravitational potential, the interstellar medium (ISM) of z ≳ 1 galaxies is typically more dynamic and exhibits elevated turbulence. If not properly modelled, these effects can strongly bias dynamical mass measurements. We use high-resolution FIRE-2 cosmological zoom-in simulations to analyse the physical effects that must be considered to correctly infer dynamical masses from gas kinematics. Our analysis covers a range of galaxy properties from low-redshift Milky-Way-mass galaxies to massive high-redshift galaxies (M⋆ > 10¹¹ M⊙ at z = 1). Selecting only snapshots where a disc is present, we calculate the rotational profile v_ϕ(r) of the cool (⁠10^(3.5) < T <10^(4.5) K⁠) gas and compare it to the circular velocity v_c = √GM_(enc)/r⁠. In the simulated galaxies, the gas rotation traces the circular velocity at intermediate radii, but the two quantities diverge significantly in the centre and in the outer disc. Our simulations appear to over-predict observed rotational velocities in the centres of massive galaxies (likely from a lack of black hole feedback), so we focus on larger radii. Gradients in the turbulent pressure at these radii can provide additional radial support and bias dynamical mass measurements low by up to 40 per cent. In both the interior and exterior, the gas’ motion can be significantly non-circular due to e.g. bars, satellites, and inflows/outflows. We discuss the accuracy of commonly used analytic models for pressure gradients (or ‘asymmetric drift’) in the ISM of high-redshift galaxies

How does filtering change the perspective on the scale-energetics of the near-wall cycle?

We investigate the flux of kinetic energy across length scales in a turbulent pipe flow. We apply explicit spatial filtering of DNS data and assess the effect of different filter kernels (Fourier, Gauss, box) on the local structure of the inter-scale energy flux ($\Pi$) and its statistics. Qualitatively, the mean energy flux at each wall-normal distance is robust with respect to the filter kernel, whereas there are significant differences in the estimated intensity and distribution of localised $\Pi$ events. We find conflicting correlations between typical flow structures in the buffer layer (streaks, vortices and different $Q$ events) and regions of forward/backward transfer in the instantaneous $\Pi$ field. In particular, cross-correlations are highly upstream-downstream symmetric for the Fourier kernel, but asymmetric for the Gauss and box kernel. We show that for the Gauss and box kernel, $\Pi$ events preferably sit on the inclined meander at the borders of streaks where strong shear layers occur, whereas they appear centred on top of the streaks for the Fourier kernel. Moreover, using the Fourier kernel we reveal a direct coincidence of backward scatter and fluid transport away from the wall ($Q_{1}$), which is absent for the Gauss and the box kernel. However, all kernels equally predict backward scatter directly downstream of $Q_{1}$ events. Our findings expand the common understanding of the wall cycle and might impact modelling and control strategies. Altogether, our results suggest that interpretations of the inter-scale energy flux relying on Fourier filters should be taken with caution, because Fourier filters act globally in physical space, whereas $\Pi$ events are strongly spatially localised. Our Python post-processing tool eFlux for scale separation and flux computations in pipe flows is freely available and can be easily adapted to other flow geometries.Comment: 22 pages, 9 figue