scholarly journals Partial Cross-Ownership, Cost Asymmetries, and Welfare

2015 ◽  
Vol 2015 ◽  
pp. 1-7 ◽  
Author(s):  
Luciano Fanti
Keyword(s):  
Social Welfare ◽  
Policy Implication ◽  
Consumer Surplus ◽  
The Other ◽  
Total Output ◽  
Cournot Duopoly ◽  
Cross Ownership ◽  
The Cross

The present study analyses the effects on social welfare of the existence of cross-participation at ownership level in a Cournot duopoly. We show that cross-participation, although it lowers the degree of competition by reducing total output and consumer surplus, may increase social welfare, provided that (i) the firm owned by a single shareholder is less efficient than the other (cross-participated) firm and (ii) the size of the market is not too large. Therefore, the policy implication is that larger cross-participations at ownership level should be favoured, despite their anticompetitive nature, when the cross-participated firm is relatively more efficient and the extent of the market is not too large.

Endogenous Timing in Vertically-Related Markets

2018 ◽  
Vol 18 (2) ◽  
Author(s):  
Hong-Ren Din ◽  
Chia-Hung Sun
Keyword(s):  
Social Welfare ◽  
Price Competition ◽  
Consumer Surplus ◽  
The Other ◽  
Endogenous Timing ◽  
Price Strategy ◽  
Quantity Competition ◽  
Sequential Game ◽  
Product Substitutability

Abstract This paper investigates the theory of endogenous timing by taking into account a vertically-related market where an integrated firm competes with a downstream firm. Contrary to the standard results in the literature, we find that both firms play a sequential game in quantity competition and play a simultaneous game in price competition. Under mixed quantity-price competition, the firm choosing a price strategy moves first and the other firm choosing a quantity strategy moves later in equilibrium. Given that the timing of choosing actions is determined endogenously, aggregate profit (consumer surplus) is higher (lower) under price competition than under quantity competition. Lastly, social welfare is higher under quantity competition than under price competition when the degree of product substitutability is relatively low.

scholarly journals Additional Transportation Costs benefit Consumer Surplus and Social Welfare in a Bilateral Duopoly

2020 ◽  
pp. 119-128
Author(s):  
Sangheon Han ◽  
Dong Joon Lee
Keyword(s):  
Social Welfare ◽  
Consumer Surplus ◽  
Transportation Costs ◽  
The Other ◽  
Location Selection ◽  
The City

This paper examines the location selection by retailers in a bilateral duopoly. We suppose that the location is unconstraint. We compare two cases. One case is that each retailer incurs its transportation costs in order to purchase goods from its manufacturer. Another case is that it does not pay the transportation costs. Our conclusions are two. One is that both retailers locate inside the city, when retailers incur the transportation costs. The other is that consumer surplus and social welfare is larger under retailers’ paying transportation costs than under retailers’ no-paying transportation costs.

Imposing tariff or implementing subsidy?

2020 ◽  
Vol 15 (3) ◽  
pp. 727-781
Author(s):  
Zhisong Chen ◽  
Shong-Iee Ivan Su ◽  
Huimin Wang
Keyword(s):  
Social Welfare ◽  
Trade Policy ◽  
Fair Trade ◽  
Consumer Surplus ◽  
The Other ◽  
Subsidy Policy ◽  
Content Type ◽  
Modeling Approach ◽  
Policy Alternatives ◽  
Stage Game

Purpose In the context of the trade war in full swing, the global supply chain systems have experienced a serious shock and become very vulnerable. The purpose of this paper is to explore the intertwining effects between the export-supporting subsidy policy and the import-deterring tariff policy to develop better insights for trade policy-making under the intra-industry-trade (IIT) conflicts. The research results may provide the trade policy makers and international businesses with better insights in making rational trade policy and business decisions. Design/methodology/approach Two-stage game-/bargaining-theoretical models for the dual competing international supply chains with a unilateral/bilateral tariff imposing or subsidy implementing under six different scenarios of IIT conflict are developed, analyzed and compared. On this basis, the corresponding numerical analyses are conducted to assess the impact of the tariff and subsidy policies and derive the trade policy implications and business insights. Findings The research results indicate that: (1) the bilateral subsidy implementing from both governments is the best policy for all stakeholders in two countries, which would lead to the highest profits, social welfare and consumer surplus than those of the other scenarios; (2) the bilateral tariff imposing of both governments is the worst policy for all stakeholders in two countries, which would lead to the lowest profits, social welfare and consumer surplus than those of the other scenarios; (3) the fair trade scenario without tariff imposing and subsidy implementing turns out to be the second-best trade policy for the governments. Under the World Trade Organization rule and fair-trade principles, the bilateral subsidy policy is not allowed in most of the cases. Thus, adopting a fair-trade policy may be the most appropriate trade policy for two trading countries. Originality/value The modeling approach developed for this study is original and innovative due to the following characteristics. First, based on three trade policy alternatives – fair trade, tariff imposing and subsidy implementing – of two generic governments under IIT conflict, nine different combinations of three policy alternatives are defined. Second, excluding the symmetrical combinations, six IIT conflict scenarios under various tariff/subsidy policy pairs ranging from no conflict to high conflict are assumed for two dual competing international supply chains. Third, a novel two-stage game-/bargaining-theoretical modeling approach is applied to investigate the optimal/equilibrium decisions regarding pricing, ordering quantity and their critical economic outcomes for all possible trade policy scenarios. Fourth, this study lays down a research foundation for the future trade conflict study using a game-theoretical modeling approach.

A New Approach to the Demonstration of Oxidase-Localization Using Tannic Acid Or Catechin

1973 ◽  
Vol 31 ◽  
pp. 698-699
Author(s):  
V. Mizuhira ◽  
Y. Futaesaku
Keyword(s):  
Cross Section ◽  
Tannic Acid ◽  
Elastic Fiber ◽  
The Other ◽  
New Approach ◽  
Tissue Block ◽  
Active Reaction ◽  
The Cross

Previously we reported that tannic acid is a very effective fixative for proteins including polypeptides. Especially, in the cross section of microtubules, thirteen submits in A-tubule and eleven in B-tubule could be observed very clearly. An elastic fiber could be demonstrated very clearly, as an electron opaque, homogeneous fiber. However, tannic acid did not penetrate into the deep portion of the tissue-block. So we tried Catechin. This shows almost the same chemical natures as that of proteins, as tannic acid. Moreover, we thought that catechin should have two active-reaction sites, one is phenol,and the other is catechole. Catechole site should react with osmium, to make Os- black. Phenol-site should react with peroxidase existing perhydroxide.

Getting Jesus off the altar: Undoing atonement readings in Revelation

2021 ◽  
Vol 118 (1) ◽  
pp. 54-61
Author(s):  
Anna M. V. Bowden
Keyword(s):  
The Other ◽  
History Of ◽  
The Cross

The interpretive history of Revelation is overrun with descriptions of Jesus as a sacrificial lamb. Yet, John never uses the popular phrase to describe him. By drawing attention to four significant omissions in the text, I argue against atonement readings of “the Lamb” in Revelation. Revelation is not a theological treatise on the meaning of the cross. It feeds questions about power and violence and admonishes the seven churches against participation in their imperial context. John’s slaughtered lamb, therefore, does not evoke a paschal sacrifice; it points to Rome’s penchant for violence. Joining the other bloodied bodies in Revelation, the lamb’s blood further incriminates Rome. Everywhere one looks in John’s depiction of empire, violence lurks. Finally, the only altar in Revelation is the heavenly altar, and this altar is not a place for sacrifice. The heavenly altar is a place where the laments of the suffering are heard, a place for worshipping God, and a place where Rome will meet its judgment. John’s Jesus is not a self-sacrificing spiritual savior; he bears witness to the bloodthirsty, massacre-loving beast-of-all-beasts. Churches must choose their allegiance.

Vocal Learning of Japanese and Rhesus Monkeys

Behaviour ◽  
1989 ◽  
Vol 109 (3-4) ◽  
pp. 191-199 ◽  
Author(s):  
Nobuo Masataka ◽  
Kazuo Fujita
Keyword(s):  
Rhesus Monkeys ◽  
Japanese Monkey ◽  
Species Difference ◽  
Vocal Learning ◽  
The Other ◽  
Playback Experiments ◽  
Biological Mothers ◽  
Japanese Monkeys ◽  
The Cross ◽  
Species Specific

AbstractForaging vocalizations given by Japanese and rhesus momkeys reared by their biological mothers differed from each other in a single parameter. Calls made by a Japanese monkey fostered by a rhesus female were dissimilar to those of conspecifics reared by their biological mothers, but similar to those of rhesus monkeys reared by their biological mothers, and the vocalizations given by rhesus monkeys fostered by Japanese monkey mothers were dissimilar to those of conspecifics reared by their biological mothers, but similar to those of Japanese monkeys reared by their biological mothers. Playback experiments revealed that both Japanese and rhesus monkeys distinguished between the calls of Japanese monkeys reared by their biological mothers and of the cross-fostered rhesus monkeys on one hand, and the vocalizations of rhesus monkeys reared by their biological mothers and of the cross-fostered Japanese monkey on the other hand. Thus, production of species-specific vocalizations was learned by each species, and it was the learned species-difference which the monkeys themselves discriminated.

scholarly journals Externalities and Regulation in Card Payment Systems

2006 ◽  
Vol 5 (1) ◽  
Author(s):  
Jean-Charles Rochet ◽  
Jean Tirole
Keyword(s):  
Social Welfare ◽  
Consumer Surplus ◽  
Welfare Analysis ◽  
Payment Systems ◽  
Interchange Fees ◽  
Regulatory Approach ◽  
Innovative Thinking ◽  
Card Payment ◽  
Economic Thinking

The paper offers a roadmap to the current economic thinking concerning interchange fees. After describing the fundamental externalities inherent in payment systems and analysing merchant resistance to interchange fee increases and the associations' determination of this fee, it derives the externalities' implications for welfare analysis. It then discusses whether consumer surplus or social welfare is the proper benchmark for regulatory purposes. Finally, it offers a critique of the current regulatory approach, and concludes with a call for more novel and innovative thinking about how to reconcile regulators' concerns and the industry legitimate desire to perform its balancing act.

scholarly journals Strategic trade policy with interlocking cross-ownership

2021 ◽  
Author(s):  
Luciano Fanti ◽  
Domenico Buccella
Keyword(s):  
Trade Policy ◽  
Free Trade ◽  
Strategic Trade Policy ◽  
Cournot Duopoly ◽  
Public Intervention ◽  
Tax Subsidy ◽  
Strategic Trade ◽  
Duopoly Model ◽  
Product Competition ◽  
Cross Ownership

AbstractBy analysing interlocking cross-ownership, this work reconsiders the inefficiency of activist governments that set subsidies for their exporters (Brander and Spencer, J Int Econ 18:83–100). Making use of a third-market Cournot duopoly model, we show that the implementation of strategic trade policy in the form of a tax (subsidy) when goods are differentiated (complements) is Pareto-superior to free trade within precise ranges of firms’ cross-ownership, richly depending on the degree of product competition. These results challenge the conventional ones in which public intervention (1) is always the provision of a subsidy and (2) always leads to a Pareto-inferior (resp. Pareto-superior) equilibrium when products are substitutes (resp. complements).

Plaidoyer pour une autre constitution

Res Publica ◽  
1970 ◽  
Vol 16 (1) ◽  
pp. 117-132
Author(s):  
Bernard Remiche ◽  
Charles-Etienne Lagasse
Keyword(s):  
The Other ◽  
Federal State ◽  
Critical Examination ◽  
National Party ◽  
Traditional Values ◽  
Unitary State ◽  
Other Hand ◽  
Federal Constitution ◽  
The Cross

The 1970 amended Belgian Constitution is at the cross-roads of two currents of history, on one hand, once more the traditional values of the Occidental society ; on the other hand a double communal pressure contests an unitary state : from underneath affirmation of three Belgiannational communities, from above, apparition of a «supra-national party».The authors make a critical examination of the cropping up of bonding institutions in a «pré-fédéral» state, then they clearly state the principles of a really federal Constitution based upon the acknowledgement of the 2 large communities and the 3 regions and the principles of a democratic organization of an economic politic.

scholarly journals XXXIV. The Episcopal Coins of Durham, and the Monastic Coins of Reading, minted during the Reigns of Edward I. II. and III. appropriated to their respective Owners. By Benjamin Bartlet, F.A.S.

Archaeologia ◽  
1779 ◽  
Vol 5 ◽  
pp. 335-339
Author(s):  
Benjamin Bartlet
Keyword(s):  
The Other ◽  
The Cross ◽  
The Right ◽  
Pastoral Staff ◽  
Edward I

We find amongst the coins minted at Durham, during the reigns of the three first Edwards, several pennies bearing particular marks in some one or other part of the coin: one has a cross moline at the beginning of the legend on each side of the piece; a second has the same cross in the second quarter of the reverse; a third has it at the beginning of the legend on the obverse only; another has a lion rampant betwixt two fleurs de lis in the same place. Some of these being placed where in succeeding reigns the mint mark stood, have been taken notice of by two writers on these subjects, but no reasons assigned for their use. There are also from the same mint two others, which have the upright limb of the cross turned in the form of a pastoral staff, one of them to the right, the other to the left; they are said to have come from the bishops mint, but the prelates name are not mentioned.

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