Recently, interactions between putative axions and magnetic monopoles have been revisited by two of the authors.1 It is shown that significant modifications to conventional axion electrodynamics ...arise due to these interactions, so that the axion–photon coupling parameter space is expanded from one parameter gaγγ$g_{a\gamma \gamma }$ to three (gaγγ,gaAB,gaBB)$(g_{a\gamma \gamma },g_{aAB},g_{aBB})$. Poynting theorem is implemented to determine how to exhibit sensitivity to gaAB$g_{aAB}$ and gaBB$g_{aBB}$ using resonant haloscopes, allowing new techniques to search for axions and a possible indirect way to determine if magnetically charged matter exists.
The axion is a well‐motivated particle, which can also explain the existence of dark matter. Furthermore, if magnetic monopoles exist, interactions of electromagnetic fields with axions will be expanded from one parameter to three. In this article, new ways to search for axions are determined and a possible indirect way to determine if magnetically charged matter exists are discussed.
We investigate a firm's dynamic pricing policy in a storable good market where the cost of production varies over time. In anticipation of a cost increase, the firm selects its prices to affect ...consumer storage. Price dynamics hinge upon the curvature of demand and the magnitude of the consumer storage cost. When demand is not too convex, the consumers' reluctance to store leads the firm to reduce prices to stimulate consumer storage. This shapes the firm's cost pass‐through and the price commitment effects. Our analysis provides a novel explanation for the well‐documented puzzling patterns of incomplete and negative cost pass‐through.
Edgeworth’s paradox of taxation occurs when an increase in the unit cost of a product causes a multiproduct monopolist to reduce prices. We give simple illustrations of the paradox and a general ...analysis of the case of linear marginal cost and demand conditions, and we characterize which matrices of cost pass-through terms are consistent with profit maximization. When the firm supplies at least one pair of substitute products, we show how Edgeworth’s paradox always occurs with a suitable choice of cost function. We then establish a connection between Ramsey pricing and the paradox in a form relating to consumer surplus.
We provide a parsimonious and unified explanation for randomized selling mechanisms widely used in practice yet commonly perceived as puzzling. Optimality of randomization in the form of conflation ...and rationing implies that revenue under market-clearing pricing is nonconcave. Randomization is implementable via opaque pricing and underpricing. Relative to market-clearing pricing, randomization increases the equilibrium quantity and quality of goods sold and, consequently, may increase consumer surplus. For fixed quantities, resale increases consumer surplus. However, resale can decrease the equilibrium quantity and quality of goods sold. Thus, resale prohibition, which always benefits the seller, may also increase consumer surplus.
THE MONOPOLY OF VIOLENCE: EVIDENCE FROM COLOMBIA Acemoglu, Daron; Robinson, James A.; Santos, Rafael J.
Journal of the European Economic Association,
01/2013, Letnik:
11, Številka:
Supp.1
Journal Article
Recenzirano
Odprti dostop
Many states in Latin America, Africa, and Asia lack the monopoly of violence, even though this was identified by Max Weber as the foundation of the state, and thus the capacity to govern effectively. ...In this paper we develop a new perspective on the establishment of the monopoly of violence. We build a model to explain the incentive of central states to eliminate nonstate armed actors (paramilitaries) in a democracy. The model is premised on the idea that paramilitaries may choose to and can influence elections. Since paramilitaries have preferences over policies, this reduces the incentives of the politicians they favor to eliminate them. We then investigate these ideas using data from Colombia between 1991 and 2006. We first present regression and case study evidence supporting our postulate that paramilitary groups can have significant effects on elections for the legislature and the executive. Next, we show that the evidence is also broadly consistent with the implication of the model that paramilitaries tend to persist to the extent that they deliver votes to candidates for the executive whose preferences are close to theirs and that this effect is larger in areas where the presidential candidate would have otherwise not done as well. Finally, we use roll-call votes to illustrate a possible "quid pro quo" between the executive and paramilitaries in Colombia.
We investigate the R&D portfolio of a monopolist investing in cost-reducing and quality enhancing R&D. Incentives along the two directions are inversely related to the size of market demand, and ...independent of each other. The stability analysis shows the existence of a unique stable steady state equilibrium, which is a saddle point. Finally, we show that the monopolist undersupplies product quality as compared to the social optimum, while its investment in the abatement of marginal cost is socially efficient.
Duhan se na području Hercegovine počeo uzgajati u 17. stoljeću. Proizvodio se za vlastite potrebe, dok su se viškovi koristili za robnu razmjenu. Turska je na ovim prostorima prva uvela jednu vrstu ...poreza na njegovu proizvodnju, da bi pred kraj svoje vladavine uspostavila monopol na duhan. Dolaskom Austrougarske uvodi se pravičniji monopolski zakon koji je doveo do uspona proizvodnje duhana u Hercegovini. Takvo stanje zadržalo se do 1918. godine kada prilike za hercegovačke proizvođače postaju manje povoljne. Nepravedna procjena duhana za vremena Kraljevine Jugoslavije, niske otkupne cijene, porezna opterećenja i takse na proizvodnju dovele su do pojave krijumčarenja duhana. U doba nove Jugoslavije također su zabilježeni usponi i padovi u produkciji duhanske sirovine, a takav trend se zadržao do Domovinskog rata. Premda su se carstva, vlasti i monopolski zakoni mijenjali, duhan je dugi niz godina predstavljao osnovicu hercegovačkog gospodarstva.
Tobacco began to be grown in Herzegovina in the 17th century. It was produced for its own needs, while surpluses were used for commodity exchange. Turkey was the first country to introduce a tax on its production, and at the end of its rule established a monopoly on tobacco. With the arrival of Austria Hungary, a more equitable monopoly law was introduced, which led to the rise of tobacco production in Herzegovina. This state of affairs persisted until 1918 when opportunities for Herzegovinian producers became less favorable. Unfair assessment of tobacco during the time of the kingdom of Yugoslavia, low purchase prices, tax burdens and taxes on production led to the emergence of tobacco smuggling. In the time of the new Yugoslavia, there were also ups and downs in the production of tobacco raw materials, and such a trend persisted until the Homeland War. Although empires, authorities and monopoly laws changed, tobacco was for many years the basis of Herzegovinian economy.
We examine competition among ridesharing platforms, where firms compete on both price and the wait time induced with idled drivers. We show that when consumers are the only agents who multihome, ...idleness is lower in duopoly than when consumers face a monopoly ridesharing platform. When drivers and consumers multihome, idleness further falls to zero as it involves costs for each platform that are appropriated, in part, by their rival. Interestingly, socially superior outcomes may involve monopoly or competition under various multihoming regimes, depending on the density of the city, and the relative costs of idleness versus consumer disutility of waiting.
We propose a framework for analyzing transformations of demand. Such transformations frequently stem from changes in the dispersion of consumers' valuations, which lead to rotations of the demand ...curve. In many settings, profits are a U-shaped function of dispersion. High dispersion is complemented by niche production, and low dispersion is complemented by mass-market supply. We investigate numerous applications, including product design; advertising, marketing and sales advice; and the construction of quality-differentiated product lines. We also suggest a new taxonomy of advertising, distinguishing between hype, which shifts demand, and real information, which rotates demand.
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