scholarly journals Platform Competition under Asymmetric Information

2013 ◽  
Vol 5 (3) ◽  
pp. 22-68 ◽  
Author(s):  
Hanna Hałaburda ◽  
Yaron Yehezkel
Keyword(s):  
Asymmetric Information ◽  
Market Failure ◽  
New Technology ◽  
Exclusive Dealing ◽  
Platform Competition ◽  
Ex Post ◽  
Market Inefficiency ◽  
The Difference ◽  
Two Sides ◽  
Do So

We consider platform competition in a two-sided market, where the two sides (buyers and sellers) have ex ante uncertainty and ex post asymmetric information concerning the value of a new technology. We find that platform competition may lead to a market failure: competition may result in a lower level of trade and lower welfare than a monopoly, if the difference in the degree of asymmetric information between the two sides is below a certain threshold. Multi-homing solves the market failure resulting from asymmetric information. However, if platforms can impose exclusive dealing, then they will do so, which results in market inefficiency. (JEL D41, D42, D82, D83, L11, L12)

Adjectives and their keyness: a corpus-based analysis of tourism discourse in English

Corpora ◽  
2019 ◽  
Vol 14 (3) ◽  
pp. 351-378 ◽  
Author(s):  
Isabel Durán-Muñoz
Keyword(s):  
Domain Specific ◽  
Adventure Tourism ◽  
Frequency Of Use ◽  
Relevant Reference ◽  
The Difference ◽  
Do So

This paper attempts to shed some light on the importance of adjectives in the linguistic characterisation of tourism discourse in English in general and in adventure tourism in particular as well as to prove how significant the difference in usage is compared to the general language. It seeks to understand the role that adjectives play in this specific subdomain and to contribute to the linguistic characterisation of tourism discourse in this respect. It also aims to confirm or reject previous assumptions regarding the use, and frequency of use, of adjectives and adjectival patterns in this specialised domain and, in general, to promote the study of adjectivisation in domain-specific discourses. To do so, it proposes a corpus-based study that measures the keyness of adjectives in promotional texts of the adventure tourism domain in English by comparing their usage in the compiled corpus to the two most relevant reference corpora of English (coca and the bnc).

Microencapsulation and Nanoencapsulation: A Review

2017 ◽  
Vol 9 (3) ◽  
Author(s):  
V. Suganya ◽  
V. Anuradha
Keyword(s):  
Drug Release ◽  
New Technology ◽  
Inert Material ◽  
Food Industries ◽  
Control Drug ◽  
Advantages And Disadvantages ◽  
Nano Scale ◽  
Pharmaceutical Industries ◽  
The Difference ◽  
Control Drug Release

Encapsulation is a process of enclosing the substances within an inert material which protects from environment as well as control drug release. Recently, two type of encapsulation has been performed in several research. Nanoencapsulation is the coating of various substances within another material at sizes on the nano scale. Microencapsulation is similar to nanoencapsulation aside from it involving larger particles and having been done for a greater period of time than nanoencapsulation. Encapsulation is a new technology that has wide applications in pharmaceutical industries, agrochemical, food industries and cosmetics. In this review, the difference between micro and nano encapsulation has been explained. This article gives an overview of different methods and reason for encapsulation. The advantages and disadvantages of micro and nano encapsulation technology were also clearly mentioned in this paper.

High on God

2019 ◽  
Author(s):  
James Wellman ◽  
Katie Corcoran ◽  
Kate Stockly
Keyword(s):  
Dark Side ◽  
Senior Pastor ◽  
Interaction Ritual ◽  
Group Loyalty ◽  
Worship Services ◽  
Homo Duplex ◽  
Nationally Representative ◽  
Primary Focus ◽  
Two Sides ◽  
Do So

Humans are homo duplex, seeking to be individuals but knowing this is only possible in communities. Thus, humans struggle to integrate these two sides of their nature. Megachurches have been enormously successful at resolving this struggle. How do they do it, and what is it about their structure and rituals that makes so many feel as if they are high on God? The affective energies and emotional valences that characterize religious ecstasy are the primary focus of our study of megachurches. Empirically, humans want and desire forms of what Randall Collins calls “emotional energy.” Drawing on extensive qualitative and quantitative data on twelve nationally representative megachurches, we identify six desires that megachurches evoke and meet: acceptance, awe and spiritual stimulation, reliable leadership, deliverance, purpose, and solidarity in a community of like-minded others. Megachurches satisfy these desires through co-presence—being in the presence of other desiring people—a shared mood achieved through powerful musical worship services, a mutual focus of attention on the charismatic senior pastor who acts as an emotional charging agent, transformative altar calls, service opportunities, and small-group participation. This interaction ritual chain solidifies attendees’ commitment and group loyalty, and keeps them coming back to be recharged. Megachurches also have a dark side: they are known for their highly publicized scandals often involving malfeasance of the senior pastor. After examining the positive and negative sides to megachurches, we conclude that they successfully meet the desire of humans to flourish as individuals and to do so in a group.

scholarly journals A Secular Critique of Religious Ethics and Politics

2017 ◽  
Author(s):  
Paul Cliteur
Keyword(s):  
Extreme Case ◽  
Moral Autonomy ◽  
Religious Ethics ◽  
Religious Leader ◽  
Political Autonomy ◽  
Central Notion ◽  
The Difference ◽  
Do So ◽  
The Ideal ◽  
Ethics And Politics

This chapter discusses the difference between a nonsecular or religious critique of religious ethics and politics and a specifically secular critique. It introduces the central notion of a secular critique, autonomy, and its two types, moral and political. Moral autonomy entails the separation of religion from ethics. The ideal of making that separation is called “moral secularism.” The opposite of moral autonomy is “moral heteronomy.” An extreme case of moral heteronomy is discussed: Abraham’s willingness to sacrifice his own son when God commanded him to do so. Next, the importance of political autonomy and political secularism is illustrated with reference to the conflict between the king Ahab (the model of a secular ruler) and the prophet Elijah (the model of a religious leader). Some stories in the holy scriptures of the monotheist religions held in common by Judaism, Christianity, and Islam are unfavorable toward secularism (both moral and political).

Disposition effect at the market level: evidence from Indian stock market

2019 ◽  
Vol 12 (2) ◽  
pp. 69-82
Author(s):  
Sravani Bharandev ◽  
Sapar Narayan Rao
Keyword(s):  
Trading Volume ◽  
Stock Exchange ◽  
Reference Points ◽  
Disposition Effect ◽  
Content Type ◽  
Ex Post ◽  
Abnormal Trading Volume ◽  
The Difference ◽  
Trading Volumes ◽  
Indian Stock Market

Purpose The purpose of this paper is to test the disposition effect at market level and propose an appropriate reference point for testing disposition at market level. Design/methodology/approach This is an empirical study conducted on 500 index stocks of NSE500 (National Stock Exchange). Winning and losing days for each stock are calculated using 52-week high and low prices as reference points. To test disposition effect, abnormal trading volumes of stocks are regressed on their percentage of winning (losing) days. Further using ANOVA, the difference between mean of percentage of winning (losing) days of high abnormal trading volume deciles and low abnormal trading volume deciles is tested. Findings Results show that a stock’s abnormal trading volume is positively influenced by the percentage of winning days whereas percentage of losing days show no such effect. Findings are consistent even after controlling for volatility and liquidity. ANOVA results show the presence of high percentage of winning days in higher deciles of abnormal trading volumes and no such pattern in case of losing days confirms the presence of disposition effect. Further an ex post analysis indicates that disposition prone investors accumulate losses. Originality/value This is the first study, which proposes the use of 52-week high and low prices as reference points to test the market-level disposition effect. Findings of this study enhance the limited literature available on disposition effect in emerging markets by providing evidence from Indian stock markets.

Size Selectivity of Diamond and Square Mesh Codends in Pelagic Herring Trawls: Only Small Herring Will Notice the Difference

1992 ◽  
Vol 49 (10) ◽  
pp. 2104-2117 ◽  
Author(s):  
Petri Suuronen ◽  
Russell B. Millar
Keyword(s):  
Relative Size ◽  
Mesh Size ◽  
The Other ◽  
Size Selectivity ◽  
The Difference ◽  
Catch Rates ◽  
Two Sides ◽  
High Catch

A twin codend trawl was fished in the northern Baltic to study the size selectivity of square mesh and diamond mesh codends of 36-mm nominal mesh size. For each codend, 15 hauls were completed with a small mesh (20 mm) codend deployed on the other side of the trawl. The relative size of the catches in the two sides of the trawl varied considerably from haul to haul (the separator section was not operating properly) and selection curves were estimated from each individual haul using a method that incorporated the differences in catching efficiency of the two sides. The length of 50% retention decreased with increased catch for both the diamond and square mesh codends, although in neither case was this relationship statistically significant. Selection curves fitted to the combined haul data were asymmetric. The square mesh codend retained significantly less small herring than the diamond mesh codend, and for larger herring the two codends had similar selectivity. In both codends, most escapes occurred at the front of the catch bulge, from the upper side of the codend. At high catch rates, mesh blockage was observed for several metres ahead of the catch bulge during the later part of the tow.

International responses to weather modification

1975 ◽  
Vol 29 (3) ◽  
pp. 805-826 ◽  
Author(s):  
Edith Brown Weiss
Keyword(s):  
International Cooperation ◽  
New Technology ◽  
International Community ◽  
Weather Modification ◽  
Weather System ◽  
The Past ◽  
Time Horizons ◽  
Weather And Climate ◽  
Potential Problems ◽  
Do So

In the past few decades we have been improving our understanding of the weather system and exploring ways to modify it. Over sixty countries have experimented with modifying the weather. The new technology of weather and climate modification will raise important political problems which will demand new responses from the international community. Whether states will be able to establish the cooperative measures necessary to develop and manage new technology depends upon whether there are sufficient incentives to do so. This article analyzes the historical patterns of international cooperation in meteorology, and then plots against several time horizons projected developments and capabilities in weather modification technology and the potential problems emerging from using the technology. It derives a tentative picture of the responsibilities demanded, compares the likely responses with those needed, and assesses whether they will be adequate for the problems projected.

Rule Fitness and Pathology in Learning Classifier Systems

2004 ◽  
Vol 12 (1) ◽  
pp. 99-135 ◽  
Author(s):  
Tim Kovacs
Keyword(s):  
Value Functions ◽  
Classifier Systems ◽  
Reward Function ◽  
Learning Classifier ◽  
Learning Tasks ◽  
General Rules ◽  
Strength Based ◽  
The Difference ◽  
The Value Function ◽  
Do So

It has long been known that in some relatively simple reinforcement learning tasks traditional strength-based classifier systems will adapt poorly and show poor generalisation. In contrast, the more recent accuracy-based XCS, appears both to adapt and generalise well. In this work, we attribute the difference to what we call strong over general and fit over general rules. We begin by developing a taxonomy of rule types and considering the conditions under which they may occur. In order to do so an extreme simplification of the classifier system is made, which forces us toward qualitative rather than quantitative analysis. We begin with the basics, considering definitions for correct and incorrect actions, and then correct, incorrect, and overgeneral rules for both strength and accuracy-based fitness. The concept of strong overgeneral rules, which we claim are the Achilles' heel of strength-based classifier systems, are then analysed. It is shown that strong overgenerals depend on what we call biases in the reward function (or, in sequential tasks, the value function). We distinguish between strong and fit overgeneral rules, and show that although strong overgenerals are fit in a strength-based system called SB-XCS, they are not in XCS. Next we show how to design fit overgeneral rules for XCS (but not SB-XCS), by introducing biases in the variance of the reward function, and thus that each system has its own weakness. Finally, we give some consideration to the prevalence of reward and variance function bias, and note that non-trivial sequential tasks have highly biased value functions.

Downhole Heating Technology – New Solution for Paraffinic Wells

2021 ◽  
Author(s):  
Mihaela Vlaicu ◽  
Vasile Marius Nae ◽  
Patrick Christian Buerssner ◽  
Stefan Liviu Firu ◽  
Natalya Logashova
Keyword(s):  
Technology Implementation ◽  
Online Monitoring ◽  
New Technology ◽  
Internal Diameter ◽  
Technology Application ◽  
Production Wells ◽  
The Difference ◽  
Wax Crystallization ◽  
Heating Technology ◽  
Production Losses

Abstract Paraffin represents one of the main case of failures and production losses which facing the entire oil industry. Prevention of paraffin deposition on the subsurface/surface equipment can be achieved by keeping the paraffin dissolved in crude oil or minimizing the adhesion or aggregation process of wax crystals. The paraffin problems which occur, conduct to gradual reduction of the tubular and pipelines internal diameter, restriction or valves blockages, and reduce the equipment capacity until the production is stop. Problems due to paraffin deposition varies and is different according with each commercial field, sometime the difference is from a well to well which producing from the same reservoir with different consistency. How we shall proceed? Before or after paraffin is field on the equipment? How could be avoid the future paraffin deposition? How long the selected method is proper for well ? The decision represents a combination based on oil's chemical & physical characteristics, well's behavior, method selected for prevention or elimination and combined with economic analysis and field experience. The paraffin inhibition applying is a common practice in OMV Petrom, which cover majority of the production wells. For the special wells, which the paraffin inhibition didn't provided satisfying results (multiple intervention due to paraffin deposition) was selected the Down Hole Heating technology (DHH) which was successfully tested in our company since 2014 thanks according with the yearly New Technology Program. The operating principle consists in heating the fluid volume from tubing using the heating cable which can be installed inside tubing, for NF and ESP wells or outside tubing for SRP or PCP wells. The cable is designed and located at the interval of wax crystallization appearance and heats the fluid to the temperature higher than the wax crystallization point (WAT). Since then, the DHH technology had an upward course, proven by high run life (highest value 2500 days / average 813 days) of the technology at the total 47 wells equipped, until this moment. Based on the successful results, recorded of 64% of old production wells equipped, it was decided to apply the technology at first completion of the new wells (36%), thus ensuring the protection of the new equipment. The paper offers an overview of DHH technology implementation, achievements, benefits and online monitoring of technology implementation starting with 2014 until today. The total impact shown a decreasing of no.of failures with 73,8%, the cost of intervention with 76,5%. The production losses decreased only with 5%, which certifies the fact that the technology helping production maintaining during the exploitation in comparison with production losses due paraffin issues recorded at wells without equipped with DHH technology. During 6 years of down hole heating technology application were developed candidate selection decision tree, monitoring the electrical efficiency, using the adaptability capacity of the technology from one well to another and integrate the temperature parameters in online monitoring system as part of digitalization concept of OMV Petrom, aspects which will be present in this article.

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