Product Variety and Demand Uncertainty

We show that demand uncertainty leads to vertical product differentiation even when consumers are homogeneous. When a firm anticipates that its inventory or capacity may not be fully utilized, product variety can reduce its expected costs of excess capacity. When the firm offers a continuum of product varieties, the highest quality product has the highest profit margins but the lowest percentage margin, while the lowest quality product has the highest percentage margin but the lowest absolute margin. We derive these results in both a monopoly model and a variety of different competitive models. We conclude with a discussion of empirical predictions together with a brief discussion of supporting evidence available from marketing studies.

Construction and Software Design for a Microcomputer Controlled pH/Ion Titrator

The construction of an automated titration device is described. The major components include an Apple II+ Microcomputer and 8-bit parallel interface. Fisher Accumet, Model 520 Digital pH/lon Meter, Gilmont Micrometer Buret of 2.5 mL capacity, Sigma stepper motor, power supply and driver to operate the buret, and a constant temperature bath of ± 0.005 °C stability. The limitations of the system are 0.001 pH/0.1 mv for the pH/ion sensing system, and 0.125 μL per step for the buret. The system as described is designed to determine equilibrium constants for metal ion-amino acid complexes. By changing the software a variety of different pH and redox titration experiments may be performed. A computer program used to operate the stepper motor driven syringe buret and record the pH from a digital pH meter is described. The program uses both Apple BASIC and assembly language. This is a closed loop operation in which the data from the pH meter is used to control the amount of reagent delivered by the buret. The results are displayed graphically as the titration proceeds. The variance of the pH readings are calculated using an assembly language subroutine and the calculations are done with zero round-off error

Product variety and demand uncertainty

We demonstrate that demand uncertainty alone can lead to equilibrium product variety. We consider a simple environment in which when demand is certain, a social planner, a competitive market, and a monopolist would all offer a single product, but when demand is uncertain, a social planner, a competitive market, and a monopolist will all offer vertically differentiated products. When a firm anticipates that its inventory or capacity may not be fully utilized, increasing product variety is efficient because it reduces the expected costs of excess capacity. We find that when the firm offers a continuum of product varieties, the highest quality product has the highest profit margins but the lowest percentage margin, while the lowest quality product has the highest percentage margin but the lowest absolute margin. We derive these results in both a monopoly model and a variety of different competitive models. We conclude with a discussion of empirical predictions together with a brief discussion of supporting evidence available from marketing studies

Increasing Company Competitiveness: “Tuning-Up” Your Pay System

The cost of labor (i.e., salaries, benefits and incentives) accounts for a sizeable portion of an employer’s operating expenses. Pay packages priced too low or configured improperly can deprive firms of the talent needed to successfully develop, market and produce viable products and services in today’s ultra competitive business environment. However, if pay packages are too high, labor costs can weaken a firm’s ability to compete. For example, a firm with 500 employees can have labor costs that easily exceed $15 million. Thus, building and maintaining a cost-efficient pay system that encourages employee performance without adversely affecting corporate earnings requires constant vigilance

β-Amyloid Degradation and Alzheimer's Disease

Extensive β-amyloid (Aβ) deposits in brain parenchyma in the form of senile plaques and in blood vessels in the form of amyloid angiopathy are pathological hallmarks of Alzheimer's disease (AD). The mechanisms underlying Aβ deposition remain unclear. Major efforts have focused on Aβ production, but there is little to suggest that increased production of Aβ plays a role in Aβ deposition, except for rare familial forms of AD. Thus, other mechanisms must be involved in the accumulation of Aβ in AD. Recent data shows that impaired clearance may play an important role in Aβ accumulation in the pathogenesis of AD. This review focuses on our current knowledge of Aβ-degrading enzymes, including neprilysin (NEP), endothelin-converting enzyme (ECE), insulin-degrading enzyme (IDE), angiotensin-converting enzyme (ACE), and the plasmin/uPA/tPA system as they relate to amyloid deposition in AD

Landsat Data Continuity Mission Expected Instrument Performance

The Landsat Data Continuity Mission (LDCM) is scheduled for a December 2012 launch date. LDCM is being managed by an interagency partnership between NASA and the U.S. Geological Survey (USGS). In order to provide the necessary spectral coverage of the visible through shortwave-infrared (SWIR) and the thermal-infrared (TIR), the satellite will carry two sensors. The Operational Land Imager (OLI) will collect data for nine visible to shortwave spectral bands with a spatial resolution of 30 m (with a 15 m panchromatic band). The Thermal Infrared Sensor (TIRS) will collect coincident image data for two TIR bands with a spatial resolution of 100 m. The OLI is fully assembled and tested and has been shipped by it's manufacturer, Ball Aerospace and Technology Corporation, to the Orbital Sciences Corporation (Orbital) facility where it is being integrated onto the LDCM spacecraft. Pre-launch testing indicates that OLI will meet all performance specification with margin. TIRS is in development at the NASA Goddard Space F!ight Center (GSFC) and is in final testing before shipping to the Orbital facility in January, 2012. The presentation will describe the LDCM satellite instrument systems, present pre-launch performance data for OLI and TIRS, and present simulated images to highlight notable features and expected imaging performance