Bertrand colludes more than Cournot

On the basis of evidence of past oligopoly experiments, we argue that there is often significantly more tacit collusion in Bertrand price-choice than in Cournot quantity-choice markets.     

Short reports

The aim of the study was to evaluate a hospital-based injury recording system on hip fracture registration in elderly persons aged + 65 years from 1994 through 2008, and to examine the agreement between the number of validated fractures and the number of fractures reported to the Norwegian Patient Registry using three different sources: (1) Medical records, (2) Patient administrative system and (3) The hospital's hip fracture record to the Norwegian Patient Registry from 2002 through 2008. The injury recording system included 582 hip fracture events and 535 (92%) were confirmed through the medical records. Reasons for non-verification were different coding failures. Searching the patient administrative system using ICD codes identified 16 hip fractures not included in the fracture registry between 2002 through 2008. The total number was the same as the number of hip fractures reported to the Norwegian Patient Registry using ICD codes alone for identification. The conclusion is that on well-defined diagnosis like hip fractures, local fracture registries may obtain a high degree of reliability if different sources are available for quality control. Well-functioning patient administrative systems may be used to study numbers of hip fractures.     

Grand Gathering of Auto Aftermarket Industry

Profite of the show Held in China International Exhibition Center (New Venue) from February 14 to 17,the 14th China International Expo for Auto Accessories,Electronics,Tuning & Car Care Products (CIAACE2012) is one of the most famous platforms of Chinas auto aftermarket industry.It is the biggest expo for auto electronics,accessories,tuning and car care products in China.     

Fascinating China Sceneries in Blockbuster Films

It feels good to watch a well-made film with touching plot and enchanting scenes,and only better to see in real the impressive images it leaves in your head.Ihis issue of This Is China will take you to the beautiful places where beloved films Avatar;Kong Fu Panda,Crouching Tiger Hidden Dragon,and Hero were shot.Zhanngjiajie National Forest Park-Avatar The Zhangjiajie National Forest Park is located in Zhangjiajie City in northern Hunan Province in the People's Republic of China,covering an area of 4,810 hectares.It was recognized as the country's first national forest park in 1982,and listed as a UNESCO Global Geopark in 2004.     

Fluctuations and response in financial markets: the subtle nature of ‘random’ price changes

Using trades and quotes data from the Paris stock market, we show that the random walk nature of traded prices results from a very delilcated interplay between two opposite tendencies: long-range correlated market orders that lead to super-diffusion (or persistence), and mean revrting limit orders that lead to sub-diffusion (or anti-persistence). We define and study a model where the price, at any instant, is the result of the impact of all past trades, mediated by a non-constant ‘propagator’ in time that describes the response of the market to a single trade. Within this model, the market is shown to be, in a precise sense, at a critical point, where the price is purely diffusive and the average response function almost constant. We find empirically, and discuss theoretically, a fluctuation-response relation. We also discuss the fraction of truly informed market orders, that correctly anticipate short-term moves, and find that it is quite small.     

Grand Gathering of Auto Aftermarket Industry

Profile of the show Held in China International Exhibition Center (New Venue) from February 14 to 17,the 14th China International Expo for Auto Accessories,Electronics,Tuning & Car Care Products (CIAACE2012) is one of the most famous platforms of China's auto aftermarket industry.It is the biggest expo for auto electronics,accessories,tuning and car care products in China.The show drew 6,103 exhibitors and 221,864 visitors from home and abroad,who were very excited about what they saw.20,316 billion yuan worth of deals were closed at the show.     

Making the link between work-life balance practices and organizational performance

The business case for work-life balance practices, as espoused by many organizations, rests on attracting better applicants and reducing work-life conflict among existing employees in order to enhance organizational performance. This review of the literature provides some evidence for the claim regarding recruitment, but there is insufficient evidence to support the notion that work-life practices enhance performance by means of reduced work-life conflict. We suggest that the business case may therefore need to be modified to reflect the number of additional routes by which work-life balance practices can influence organizational performance, including enhanced social exchange processes, increased cost savings, improved productivity, and reduced turnover. The impact of these processes may, however, be moderated by a number of factors, including national context, job level, and managerial support. The importance of further research into the effects of these practices is discussed.     

Economies with Land—A Game Theoretical Approach

With an economy with land (an economy of Debreu-type in which land is the unique commodity) we associate a cooperative game with transferable utility v . The set of all TU-games of type v is investigated and the set of equilibrium payoffs (in the TU-sense) of the economy is described as a subset of the core of v . We prove that equilibrium payoffs can be extended to population monotonic allocation schemes in the sense of Sprumont.