This paper analyzes the role of communication between firms in an infinitely repeated Bertrand game in which firms receive an imperfect private signal of a common value i.i.d. demand shock. It is shown that firms can use stochastic, inter-temporal market sharing as a perfect substitute for communication in low demand states. Therefore, partial communication in high demand states is sufficient t...

This paper analyzes the role of communication between firms in an infinitely repeated Bertrand game in which firms receive an imperfect private signal of a common value i.i.d. demand shock. Communication allows firms to coordinate on the most collusive price and it eliminates the possibility of undetectable price cuts. It is shown that firms can use stochastic intertemporal market sharing as a ...

This paper analyzes the role of communication between firms in an infinitely repeated Bertrand game in which firms receive an imperfect private signal of a common value i.i.d. demand shock. It is shown that firms can use stochastic, inter-temporal market sharing as a perfect substitute for communication in low demand states. Therefore, partial communication in high demand states is sufficient t...

OBJECTIVE Hemorrhagic shock accompanied by injury represents a major physiologic stress. Fasted animals are often used to study hemorrhagic shock (with injury). A fasted state is not guaranteed in the general human population. The objective of this study was to determine if fed animals would exhibit a different metabolic profile in response to hemorrhagic shock with trauma when compared to fast...

We revisit the discussion about relationship between price’s cyclical features, implicit collusion and demand level in an oligopoly supergame where a positive shock may hit disrupt collusion. The novel feature of our model consists characterising post-shock noncooperative price comparing it against cartel played last period collusive path, to single out conditions for procyclicality arise both ...

Contemporary structural models of the global market for crude oil jointly specify precautionary and speculative demand shocks as a composite shock, named storage shock. We resolve this identification problem examine effects these distinct shocks, along with conventional supply on price oil. find that uncertainty driven is, average, primary driver real fluctuations have previously been associate...

A physicochemical study for the treatment of pharmaceutical wastewater was performed. Objective of the laboratory investigation was to study the removal of color, Total Dissolved Solids (TDS), Biochemical Oxygen Demand (BOD), Chemical Oxygen Demand (COD), turbidity and phenol and bring them up to the allowable limits for reuse purposes. Efficiency of coagulation, flocculation, sedimentation, sa...

Demand for business intelligence solutions continues to grow in the industry at record rates to combat competitive pressures and to attain business agility. Still organizations continue to struggle on how to implement successful business intelligence solutions. Despite its growing popularity and maturity as a field, it appears that organizations follow key guidelines that ensure the failure of ...

A pilot scale wastewater treatment plant was designed, constructed and operated on site to treat wastewater from a combined effluent drain. The activated sludge process (ASP) was used at three different hydraulic retention times (HRT) of 12, 10 and 8 hrs at an average MLSS concentration of 3500 mg/L. Under each HRT, the pilot plant was operated for a period of 10-12 weeks. Chemical oxygen deman...

The efforts of modern civilization to create an environment to meet human aspirations have successfully resulted in constant improvements of our lifestyle, but it has increased risks to human and ecological health. This situation has motivated many scientists throughout the world to analyze the environmental factors that can affect our health or ecology and to calculate the levels of risk. In B...