SURVIVAL OF THE SMALL FIRM AND THE ENTREPRENEUR UNDER DEMAND AND EFFICIENCY UNCERTAINTY

The objective of this paper is to offer an answer to the question : why do some entrepreneurs wish to own another firm in the future after having closed an unsuccessful one? We first show this question is relevant because making use of a sample of entrepreneurs in the UK who have experienced a business closure, we show that 45% of them have the desire to own another firm in the future, despite having an unsuccessful experience in small firm ownership. To tackle our question we develop a model where the profits of the small firm depend on two firm-specific parameters : the effciency parameter, which represents the skills of the entrepreneur to manage and cope efficiently with the everyday tasks of the small firm, and the demand parameter, which denotes the success of the firm’s product to attract demand or capture a market niche. It is found that our model answers our initial question by revealing the existence of a mechanism of entrepreneurial self-selection. Under such mechanism, skilful entrepreneurs are the only ones who wish to own another firm in the future, regardless of the degree of success in their previous venture, whereas unskilful entrepreneurs prefer to go to wage work. We show this mechanism accounts not only for the empirical evidence relevant to our initial question, but also for the rest of cases of entrepreneurs’ attitudes after experiencing a business closureSmall Firm ; Entrepreneur ; Survival ; Entrepreneurial Skills

Models for gamma-ray production in low-mass microquasars

Unlike high-mass gamma-ray binaries, low-mass microquasars lack external sources of radiation and matter that could produce high-energy emission through interactions with relativistic particles. In this work we consider the synchrotron emission of protons and leptons that populate the jet of a low-mass microquasar. In our model photohadronic and inverse Compton (IC) interactions with synchrotron photons produced by both protons and leptons result in a high-energy tail of the spectrum. We also estimate the contribution from secondary pairs injected through photopair production. The high-energy emission is dominated by radiation of hadronic origin, so we can call these objects proton microquasars.Comment: 4 pages, 2 figures, accepted for publication in the International Journal of Modern Physics D, proceedings of HEPRO meeting, held in Dublin, in September 200

Microquasar models for 3EG J1828+0142 and 3EG J1735-1500

Microquasars are promising candidates to emit high-energy gamma-rays. Moreover, statistical studies show that variable EGRET sources at low galactic latitudes could be associated with the inner spiral arms. The variable nature and the location in the Galaxy of the high-mass microquasars, concentrated in the galactic plane and within 55 degrees from the galactic center, give to these objects the status of likely counterparts of the variable low-latitude EGRET sources. We consider in this work the two most variable EGRET sources at low-latitudes: 3EG J1828+0142 and 3EG J1735-1500, proposing a microquasar model to explain the EGRET data in consistency with the observations at lower energies (from radio frequencies to soft gamma-rays) within the EGRET error box.Comment: (1)Universitat de Barcelona, (2)Instituto Argentino de Radioastronomia (3) Facultad de Ciencias Astronomicas y Geofisicas (4)Lawrence Livermore National Laboratory 6 pages, 2 figures. Presented as a poster at the V Microquasar Workshop, Beijing, June 2004. Accepted for publication in the Chinese Journal of Astronomy & Astrophysic

Probing magnetic order in ultracold lattice gases

A forthcoming challenge in ultracold lattice gases is the simulation of quantum magnetism. That involves both the preparation of the lattice atomic gas in the desired spin state and the probing of the state. Here we demonstrate how a probing scheme based on atom-light interfaces gives access to the order parameters of nontrivial quantum magnetic phases, allowing us to characterize univocally strongly correlated magnetic systems produced in ultracold gases. This method, which is also nondemolishing, yields spatially resolved spin correlations and can be applied to bosons or fermions. As a proof of principle, we apply this method to detect the complete phase diagram displayed by a chain of (rotationally invariant) spin-1 bosons.Comment: published versio

Interpretation of experimental results on Kondo systems with crystal field

We present a simple approach to calculate the thermodynamic properties of single Kondo impurities including orbital degeneracy and crystal field effects (CFE) by extending a previous proposal by K. D. Schotte and U. Schotte [Physics Lett. A 55, 38 (1975)]. Comparison with exact solutions for the specific heat of a quartet ground state split into two doublets shows deviations below $10\%$ in absence of CFE and a quantitative agreement for moderate or large CFE. As an application, we fit the measured specific heat of the compounds CeCu$_2$Ge$_2$, CePd$_{3}$Si$_{0.3}$, CePdAl, CePt, Yb$_2$Pd$_2$Sn and YbCo$_2$Zn$_{20}$. The agreement between theory and experiment is very good or excellent depending on the compound, except at very low temperatures due to the presence of magnetic correlations (not accounted in the model)