Complementary Goods Research Articles

영어능력과 국가 경제성장과의 관계: OECD 비영어권 국가들을 중심으로

본 연구는 비영어권 OECD 21개 국가들을 대상으로 영어능력과 경제활동(국가별 무역량, R&D투자 등), 그리고 경제 성장률과의 관계 분석을 통하여 영어능력이 국가의 경제성장에 미치는 영향을 실증적으로 규명하고자 하였다. 단순회귀분석(OLS)과 표면상무관회귀분석(Seemingly Unrelated Regression Estimation: SURE)의 기법을 사용하여 추정한 결과 체코, 핀란드, 그리고 폴란드를 제외한 여타 국가들에서는 영어능력이 직접적으로 경제성장에 정(+)의 효과를 미친다는 통계학적 유의성이 발견되지 않았다. 그러나 영어 능력은 무역량 증진의 기여를 통하여 간접적으로 경제성장에 영향을 끼치는 것으로 나타났다. 따라서 영어 능력은 경제성장에 있어서 하나의 필요조건이지 충분조건은 아닌 것으로 결론 지울 수 있다. 더불어 영어 능력은 최소한의 물적 자본과, 기술축적, 정치적 안정, 그리고 훌륭한 통치를 보완하는 충분한 보완재 역할을 담당한다면 경제성장에 긍정적인 영향을 끼칠 것이 예상된다. This study aims at investigating how English proficiency affects economic development of a country by analyzing the relationships among English proficiency, economic activities (amount of trade, R&D investment, etc), and the rate of economic growth, focusing on twenty-one non-English-speaking OECD countries. Ordinary Least Square (OLS) and Seemingly Unrelated Regression Estimation (SURE) were used for the data analysis in the study. The findings reveals that there existed little statistical significance to support the fact that English proficiency was directly related to the economic development in a positive way in many countries except Mexico, the Czech Republic, Finland, and Poland. However, English proficiency indirectly influenced the economic development in the way of increasing the amount of trade. These results can lead to the conclusion that English proficiency is not a sufficient element but a necessary one. Furthermore, it is expected that English proficiency can positively affect the economic development when it plays a part as sufficient complementary goods which make up for physical capital, technology accumulation, political stability, and worthy government.

Partial Privatization in Price-Setting Mixed Duopolies with Complementary Goods

We consider a domestic (resp. international) mixed duopoly model in which a domestic public firm and a domestic (resp. foreign) private firm produce complementary goods. First, the domestic government chooses the level of privatization to maximize domestic social welfare. Second, observing the level of privatization, the firms simultaneously and independently choose prices. We present the equilibrium outcomes of the two mixed duopoly models and shows that our result is in marked contrast to that of the price-setting mixed du-opoly model with substitute goods.

Why retailers cluster: an agent model of location choice on supply chains

This paper investigates the emergence of retail clusters on supply chains comprised of suppliers, retailers, and consumers. An agent-based model is employed to study retail location choice in a market of homogeneous goods and a market of complementary goods. On a circle comprised of discrete locales, retailers play a noncooperative game by choosing locales to maximize profits which are impacted by their distance to consumers and to suppliers. Our findings disclose that in a market of homogeneous products symmetric distributions of retail clusters arise out of competition between individual retailers; average cluster density and cluster size change dynamically as retailers enter the market. In a market of two complementary goods, multiple equilibria of retail distributions are found to be common; a single cluster of retailers has the highest probability to emerge. Overall, our results show that retail clusters emerge from the balance between retailers' proximity to their customers, their competitors, their complements, and their suppliers.

Computer-supported statistics courses in online environments: adding e-repositories to the equation

The aim of this paper is to discuss how computer-supported statistics courses can be enhanced by incorporating learning object repositories. These e-repositories can act as a perfect methodological complement to other technologies such as learning management systems, statistical software or other general internet resources. To that end, the chapter first reviews some of the most popular learning management systems and statistical online resources available today. Then, the paper describes our experience regarding the design, development and use of learning object repositories for supporting students in an online environment. Use of these e-repositories has eventually contributed to generate academic benefits both for online students and instructors. Students have now just-in-time access to the specific statistical resources they need, while instructors are able to provide a better and more complete guidance to students at the same time they can monitor students' downloads and identify which are the most demanded learning objects related to their statistics courses.

Separating complements: the effects of competition and quality leadership

The literature on the tragedy of the anticommons typically suggests that producers of complementary goods should integrate themselves. Recent decisions by the antitrust authorities seem however to indicate that there exists a tradeoff between the “tragedy” and the lack of competition characterizing an integrated market structure. In this paper we analyze such tradeoff in oligopolistic complementary markets when products are vertically differentiated. We show that quality leadership plays a crucial role. When there is a quality leader, forcing divestitures or prohibiting mergers, thus increasing competition, lowers prices and enhances consumer surplus. However, when quality leadership is shared, “disintegrating” firms may lead to higher prices. In this case, concerns about the tragedy of the anticommons are well posed in antitrust decisions.

APPLICATIONS BARRIER TO ENTRY AND EXCLUSIVE VERTICAL CONTRACTS IN PLATFORM MARKETS

I. INTRODUCTION Exclusive contracts in vertical relationships feature prominently in antitrust cases in network industries. At issue are contracts a firm with market power signs with its suppliers or buyers that may limit access to the market by its rivals. We focus on the case in which the firm signs exclusive contracts with upstream suppliers. For example, in the 1980s developers of games for Nintendo's video game console agreed not to provide any titles for other platforms (Atari v. Nintendo). (1) In U.S. v. Microsoft, the dominant software provider was charged with abusing its monopoly power in its contracts with Internet content providers and independent software developers, with the goal of excluding competitors to Microsoft's Internet Explorer browser. (2) Exclusive contracts such as these are an example of vertical restraints, an area in law and economics that has generated as much controversy as any. We examine the impacts of exclusionary contracts between hardware manufacturers and software providers in the home video game market. An important feature of the market for video game consoles is indirect network effects (Katz and Shapiro 1985), whereby the consumer valuation of the primary product (the console, or platform) increases with the number of complementary goods available (gaming software). If platform providers enjoy indirect network effects, then each may want to prevent suppliers of its complementary good from also supplying competing platforms (Evans 2003; Regibeau 2004). When a dominant platform provider and the producers of the complementary goods sign such exclusionary contracts, they burden competing platforms and potential challengers with producing the complementary goods themselves or finding alternative suppliers, which may raise rivals' costs and can diminish competition (Brennan 2007). This is the applications barrier to entry at issue in the Microsoft case. Foreclosure of competitors can result (Armstrong and Wright 2007). Whether survival of a single dominant platform is inefficient or to the detriment of consumers depends on the size of duplicated costs among platforms, the heterogeneity of consumers' preferences among platforms and among the complementary goods, and other factors. We focus on estimating, determining the causes of, and exploring the implications of indirect network effects for exclusively and nonexclusively provided games. Exclusive titles are those games that can only be played on one system, because the console producer either created the game itself or negotiated an exclusive contract with a video game maker. We examine the sixth-generation videogame console market, which comprises Nintendo's GameCube, Sony's PlayStation2, and Microsoft's Xbox, and uncover an interesting finding: although we find strong indirect network effects, and a large impact of exclusivity on rivals' console demand when most games are nonexclusive, the marginal exclusive game contributes virtually nothing to console demand. Exclusivity helps a firm establish market share at first, but beyond a certain point additional locking up of software supply no longer hurts rivals. Consequently, there is no ability to capture ever more console consumers through locking in an increasing supply of exclusive games. Such capture of the whole market is often assumed in discussion or derived in theoretical models of the video game industry in specific or platform markets in general. By itself, a finding that exclusivity does not affect console demand on the margin does not necessarily imply that there is no consumer harm, for with heterogeneous game quality it may be that a console maker need only lock in the best games to harm the rivals' ability to compete. However, our investigation suggests that exclusionary contracts did not hurt consumers, because of two important features of the videogame market. The bargaining power enjoyed by the best software providers, coupled with the existence of blockbuster games that enable competitors to establish market share, prevents the foreclosure of rivals through exclusive contracting suggested by some models (Armstrong and Wright 2007). …

Multivariate analysis of volatile compounds detected by headspace solid-phase microextraction/gas chromatography: A tool for sensory classification of cork stoppers

The volatile fraction of aqueous cork macerates of tainted and non-tainted agglomerate cork stoppers was analysed by headspace solid-phase microextraction (HS-SPME)/gas chromatography. Twenty compounds containing terpenoids, aliphatic alcohols, lignin-related compounds and others were selected and analysed in individual corks. Cork stoppers were previously classified in six different classes according to sensory descriptions including, 2,4,6-trichloroanisole taint and other frequent, non-characteristic odours found in cork. A multivariate analysis of the chromatographic data of 20 selected chemical compounds using linear discriminant analysis models helped in the differentiation of the a priori made groups. The discriminant model selected five compounds as the best combination. Selected compounds appear in the model in the following order; 2,4,6 TCA, fenchyl alcohol, 1-octen-3-ol, benzyl alcohol and benzothiazole. Unfortunately, not all six a priori differentiated sensory classes were clearly discriminated in the model, probably indicating that no measurable differences exist in the chromatographic data for some categories. The predictive analyses of a refined model in which two sensory classes were fused together resulted in a good classification. Prediction rates of control (non-tainted), TCA, musty-earthy-vegetative, vegetative and chemical descriptions were 100%, 100%, 85%, 67.3% and 100%, respectively, when the modified model was used. The multivariate analysis of chromatographic data will help in the classification of stoppers and provide a perfect complement to sensory analyses.

Label-free detection of polynucleotide single-base mismatch via pyrene probe excimer emission

The pyrene probe and pyrene-labeled oligonucleotides (ODNs) probe are expected to be candidates as fluorescent probe for DNA assay. In particular, label-free detection is a very hot because of its simpleness, speediness and cheapness. Herein, we have investigated the use of a pyrenylakylammonium salt, a novel fluorescent probe for the detection of one single nucleotide polymorphism (SNP) in double stranded DNA. After S1 nuclease digestion, the pyrene probes bind electrostatically to the perfect complement DNA and emit a strong excimer emission. However, treatment of the non-complementary DNA with S1 nuclease caused nucleotide fragments of less than 5 bases, which could not induce excimer emission. By comparing ratio of excimer to monomer fluorescence between normal and mutant DNA after S1 nuclease digestion, One-base mutation in DNA was detected easily. This new method may be applied to the detection of SNP.

Back-Scattering Interferometry: A Versatile Platform for the Study of Free-Solution versus Surface-Immobilized Hybridization

The first direct comparison of surface immobilization and free-solution oligonucleotide hybridization using back-scattering interferometry (BSI) showed that surface immobilization perturbs hybridization by as much as 50 %. BSI can distinguish between a perfect complement and a two-base-pair mismatch with an internal mismatch significantly destabilizing the duplex.

Joint demand and capacity management in a restaurant system

This paper studies the demand and capacity management problem in a restaurant system. A queueing-based optimization model with underlying quasi birth-and-death process and state-dependent functions is developed to address the dynamic and nonlinearity difficulties. In particular, our model explicitly captures the demand changes with respect to the system congestion state on a near real-time dynamic basis. With this framework, we empirically examine the relative performance of commonly used strategies for the case of a local restaurant. The study shows that a strategy that balances service quality and cost yields maximum profit. The result indicates that the traditional view of the conflict between service quality and cost can be overcome by using an interdisciplinary perspective of marketing and operations. Both perspectives should be embraced in academic research and industrial practice in capacity planning decisions for services.

How to measure customer value and its relationship with shareholder value in a business-to-business market

Intangible assets are difficult to measure, but nowadays the value of the shares of firms in the stock exchange market contains a high percentage of intangible capital and customers are one of the main intangible assets which should be evaluated. This paper presents and discusses some tools to measure the value of customers. But first, it is mandatory to define and clarify the relationships among the concepts of Customer Equity (CE), Life Time Value (LTV) and Customer Relationship Management (CRM). LTV is the best financial outcome to measure customer value, so the paper reviews the literature on some mathematical models to calculate LTV. We propose an equation for LTV in order to apply it in a business-to-business market, and an analysis of the influence factors involved in it is made, focusing especially in the link between LTV and shareholder value. Finally, we propose as future lines of research, the relational equity approach as the perfect complement to the customer equity analysis and a way to estimate LTV for actual cases of publicly traded firms using published information.

How to measure customer value and its relationship with shareholder value in a business-to-business market

Intangible assets are difficult to measure, but nowadays the value of the shares of firms in the stock exchange market contains a high percentage of intangible capital and customers are one of the main intangible assets which should be evaluated. This paper presents and discusses some tools to measure the value of customers. But first, it is mandatory to define and clarify the relationships among the concepts of Customer Equity (CE), Life Time Value (LTV) and Customer Relationship Management (CRM). LTV is the best financial outcome to measure customer value, so the paper reviews the literature on some mathematical models to calculate LTV. We propose an equation for LTV in order to apply it in a business-to-business market, and an analysis of the influence factors involved in it is made, focusing especially in the link between LTV and shareholder value. Finally, we propose as future lines of research, the relational equity approach as the perfect complement to the customer equity analysis and a way to estimate LTV for actual cases of publicly traded firms using published information.

On behavioral complementarity and its implications

We study the behavioral definition of complementary goods: if the price of one good increases, demand for a complementary good must decrease. We obtain its full implications for observable demand behavior (its testable implications), and for the consumer's underlying preferences. We characterize those data sets which can be generated by rational preferences exhibiting complementarities. The class of preferences that generate demand complements has Leontief and Cobb–Douglas as its as extreme members.

Nash demand game and the Kalai–Smorodinsky solution

We introduce two new variations on the Nash demand game. In one, as in all past variants of Nash demand games, the Nash bargaining solution is the equilibrium outcome. The other demand game allows for probabilistic continuation in cases of infeasible joint demands. Specifically, with probability ( 1 − p ) the game terminates and the players receive their disagreement payoffs; but with probability p the game continues to a second stage in which one of the two incompatible demands is randomly selected and implemented. Surprisingly, the Kalai–Smorodinsky solution is always the outcome of the most robust equilibrium of this game. Moreover, ranking other solution concepts is impossible.

High energy density science with tabletop terawatt lasers

High energy density science (HEDS) addresses some of the most fundamental questions in contemporary research. Tabletop terawatt femtosecond lasers provide a robust platform for experiments in HEDS – on the one hand, they push the limits of ultrarapid excitation and on the other they provide a perfect complement to the experiments performed with high energy, longer pulse lasers. After a general introduction we consider results in a niche regime of these lasers, namely femtosecond dynamics. Specifically, we consider pump-probe experiments with relativistic intensity 30 fs, 10 Hz, 800 nm Ti: Sapphire laser pulses. The physical processes considered are the transport of hot electrons with their associated giant magnetic fields, the spatio-temporal evolution of these magnetic fields at target front and rear and ultrafast dynamics of the plasma critical surface.

Bundling and Compatibility: Selling the Whole Package May Be Pro-Competitive

In this paper we study price competition, equilibrium market configurations and entry decisions when firms compete in vertically-differentiated markets producing complementary goods. We show that allowing firms to sell complementary goods may be welfare-enhancing and pro-competitive. In fact, such strategy favors the entry of new firms producing lower-quality components. Moreover, this strategy increases consumer surplus, even when firms sell the two complements as a bundle. Interestingly, notwithstanding the increase in competition, it is always optimal for firms to enter a complementary good market. By discouraging such practices, antitrust authorities may harm both consumers and low-quality firms, at the same time undermining market stability.

Self-Assembled Nucleic Acid Nanoparticles Capable of Controlled Disassembly in Response to a Single Nucleotide Mismatch

We have demonstrated the self-assembled DNA nanoparticles capable of controlled disassembly in response to a single nucleotide change (SNC) in a target nucleic acid. The DNA nanoparticles (avg diameter=51+/-22 nm) were constructed by joining two types of streptavidin-DNA conjugates with 2 molar equiv of a linker strand that carries complementary sequences to both conjugates. Nanoparticle disassembly triggered by a target strand (i.e., a perfect complement to the linker) selectively over mismatched targets was achieved by kinetically controlled nucleation occurring at a 6-nt overhang in the linker. The disassembly process was shown to be dramatically slowed down when using mismatch targets in which the SNC was positioned at the fourth nucleotide from the 3'-end. To verify whether the controlled disassembly also works for a SNC located in the middle of a target strand, we tested a deleterious Z variant (G1024A) of human alpha(1)-antitrypsin as a mismatch target (60-nt) carrying the point mutation at position 39. The wild-type target completed the disassembly process in less than 10 min, whereas the mismatch Z-type target could not complete the disassembly even in 3 h. The DNA nanoparticles are promising for sequence-dependent controlled release of short nucleic acids, including siRNA and antisense oligonucleotides, and construction of smart nanomaterials capable of sensing and processing single-nucleotide polymorphisms.

Asymmetric Complementary Goods Pricing under Sequential Moves

Abstract We examine asymmetric complementary good pricing under sequential moves when a price leader (firm A) produces a main product, whereas a price follower (firm B) produces an enhancer for the main product. We show that under sequential moves there is an additional pricing regime “pseudo complements" besides the two cases obtained under simultaneous pricing, namely, (i) “independent pricing" and (ii) “bundling pricing." Under the pseudo complements regime, firm A behaves as if it is an independent monopolist, whereas firm B behaves as if the two products are strict complements. We characterize several properties of the pseudo complements regime. We show that the double mark-up problem persists in the pseudo complement regime. However, when firm A incorporates firm B's function into product A, it alleviates the double mark-up problem. We also explore how the main product's quality improvement affects the follower's R&D incentives.

Modeling IT relationship quality and its determinants: A potential perspective of network externalities in e-service

This article addresses the development of relationship quality in the service context of information technology (IT) based on the network externalities theory. The model predicates the IT relationship quality is influenced by both synchronization value and autarky value, whereby autarky value is influenced by the availability of complementary goods. At the same time, synchronization value is influenced by relationship commitment and perceived critical mass, while availability of complementary goods is influenced by perceived compatibility and overall installed base. Note that the autarky value represents the value generated by the product itself even if there are no other users (e.g., the printing and copying functions of a fax/printer machine), while synchronization value represents individuals’ perceived value obtained through interaction (e.g., chatting functions of Skype). The model is examined using data obtained from employees of different companies in Taiwan. The empirical findings and their implications are discussed herein.

Concordance Among Holdouts

Holdout problems prevent decentralized aggregation of complementary goods, but the coercion required to overcome holdout may encourage abuse and violate fairness standards. We propose second-best efficiency, abuse-prevention, and fairness criteria for procedures intended to reduce holdout. Our criteria are jointly satisfied by a class of “Concordance” procedures. In these procedures, the prospective buyer makes a take-it-or-leave-it offer to the group of sellers, and the sellers use an efficient collective choice mechanism to decide as a group whether to accept the buyer’s offer. In the case of sale, the buyer’s offer is divided among the sellers in a fashion independent of individual sellers’ actions. Each seller retains the option to receive, in the event of sale, her share of the offer (without making any additional payments) in exchange for not influencing the collective decision. Our approach is applicable in a range of contexts including land assembly, spectrum aggregation, corporate acquisitions, and patent pool formation.