The authors examine industry concentration for the U.S. food manufacturing sector. This study is the first to examine whether particular subsectors within the food manufacturing industry, which operate in the presence of industry-funded check-off programs such as marketing orders, are more or less concentrated than industries without such research and marketing programs. The authors find eviden...

We associate to any pure exchange economy a game with only two players, regardless of the number of consumers. In this twoplayer game, each player represents a different role of the society, formed by all the individuals in the economy. Player 1 selects feasible allocations trying to make Pareto improvements. Player 2 chooses an alternative from the wider range of allocations that are feasible ...

This is a synopsis and extension of Phys. Rev. D49 5408 (1994). The Pseudodual Chiral Model illustrates 2-dimensional field theories which possess an infinite number of conservation laws but also allow particle production, at variance with naive expectations—a folk theorem of integrable models. We monitor the symmetries of the pseudodual model, both local and nonlocal, as transmutations of the ...

This paper analyzes the effects of buyer search costs and incomplete information, private and common knowledge of the sellers, on seller competition. It turns out that small changes in search costs may have large but quantifiable effects on pricing when the seller has good private knowledge about the buyer, but the common knowledge of the buyer valuations is lacking among the sellers. As an app...

Financial markets are a paradigmatic case of complex adaptive systems. However, their complexity cannot be captured by traditional modelisation paradigms and we thus need to turn to new modelling tools. We present agentbased simulation as the suitable paradigm to analyse financial markets: this method allows to study the market macro behaviour on the basis of its microstructure, and some advanc...

Salmonella carriage is an insidious problem for the poultry industry. While most Salmonella serotypes are avirulent in poultry, these bacteria can contaminate chicken meat during processing, leading to one of the most important food safety hazards. In this study, we examined the anti-Salmonella effects of Diamond V Original XPC™ (XPC) included in the finisher diet fed to commercial broilers. On...

A novel adjuvant (Immunoboost®) to enhance antibody titer response to a commercial vaccine (Lysigin®) against Staphylococcus aureus mastitis in dairy heifers was evaluated. In Phase 1, hyper-immunization with Lysigin® to enhance serum titers did not result in titers that exceeded conventional immunization. In Phase 2, anti-S. aureus titers in heifers immunized with Lysigin® + Immunoboost® tende...

The favorite-longshot bias describes the longstanding empirical regularity that betting odds provide biased estimates of the probability of a horse winning—longshots are overbet, while favorites are underbet. Neoclassical explanations of this phenomenon focus on rational gamblers who overbet longshots due to risk-love. The competing behavioral explanations emphasize the role of misperceptions o...

This paper studies the equilibrium predatory practices that may arise when the borrowers have behavioral weaknesses. Rational lenders offer short term contracts that can be renewed at the cost of paying a penalty fee. We show how the optimal contracts depend on the degree of näıveté of the time inconsistent customers. Penalty fees have a dual role : they increase market share by providing a use...