This document provides an analysis by Dennis Carlton regarding whether price caps are necessary for new generic top-level domain (gTLD) internet registries. Carlton concludes that price caps are unnecessary and could inhibit competition. He argues that ex ante competition between registries will discourage opportunistic behavior. While domain name switching costs exist, competition from other TLDs and growth in internet usage reduce the ability and incentives for registries to exploit customers. Price caps on major TLDs also limit what new gTLDs can charge.
Many quality dimensions are hard to contract upon and are at risk of degradation when services are procured rather than produced in-house. However, procurement may foster performance-improving innovation. We assemble a large data set on elderly care services in Sweden between 1990 and 2009, including survival rates - our measure of non-contractible quality - and subjectively perceived quality of service. We estimate how procurement from private providers affects these measures using a difference-in-difference approach. The results indicate that procurement significantly increases non-contractible quality as measured by survival rate, reduces the cost per resident but does not affect subjectively perceived quality.
Based on my recent work with several co-authors this paper explores the relationship between discretion, reputation, competition and entry in procurement markets. I focus especially on public procurement, which is highly regulated for accountability and trade reasons. In Europe regulation constrains the use of past performance information to select contractors while in the US its use is encouraged. I present some novel evidence on the benefits of allowing buyers to use reputational indicators based on past performance and discuss the complementary roles of discretion and restricted competition in reinforcing relational/reputational forces, both in theory and in a new
empirical study on the effects restricted rather than open auctions. I conclude reporting preliminary results form a laboratory experiment showing that reputational mechanisms can be designed to stimulate rather than hindering new entry.
This paper reports results from a laboratory experiment exploring the relationship between reputation and entry in procurement. There is widespread concern among regulators that favoring suppliers with good past performance, a standard practice in private procurement, may hinder entry by new (smaller or foreign) firms in public procurement markets. Our results suggest that while some reputational mechanisms indeed reduce the frequency of entry, so that the concern is warranted, appropriately designed reputation mechanisms actually stimulate entry. Since quality increases but not prices, our data also suggest that the introduction of reputation may generate large welfare gains from the buyer.
This study focuses, firstly, on the pricing of electricity in the Finnish retail market. In particular, the impact of the ownership structure on prices is tested empirically. Secondly, the influence of low-cost electricity sources on retail prices is considered. The question about whether the average fuel costs rather than the wholesale price determines the retail prices is thus addressed. The supply side behaviour characterized may explain the passivity of client activity in the seemingly competitive Finnish market.
Portfolio of Buyer-Supplier Exchange Relationships in an Online Marketplace f...Eric van Heck
This document summarizes a study on portfolios of exchange relationships that buyers form with suppliers in an online marketplace for IT services. The study explores how buyers organize their supplier networks by analyzing patterns in their usage of auction vs. negotiation mechanisms, types of supplier relationships, and preferences for certain suppliers over multiple transactions. The study aims to develop a taxonomy of buyers' portfolio configurations and relate them to theoretical perspectives on how IT shapes economic exchange relationships, in order to provide a richer picture than previous studies that predicted uniform relationship types. Key dimensions for analyzing portfolio configurations include the extent of arm's-length vs. close supplier relationships, the usage of auction vs. negotiation mechanisms, and the complexity of IT projects involved in the transactions. The study also
We investigate the impact of procurement thresholds on strategic behavior of public buyers in Sweden. We document signs of “bunching” at the threshold, which suggests that strategic behavior in procurement is potentially important in Sweden, and should not be overlooked in the on-going public debate on the procurement thresholds. At the same time, data limitations do not allow us to access the impact of this strategic behavior on procurement outcomes and efficiency. This calls for better and more extensive procurement data collection.
In most jurisdictions, antitrust fines are based on affected commerce rather than on collusive profits, and in some others, caps on fines are introduced based on total firm sales rather than on affected commerce. We uncover a number of distortions that these policies generate, propose simple models to characterize their comparative static properties, and quantify them with simulations based on market data. We conclude by discussing the obvious need to depart from these distortive rules-of-thumb that appear to have the potential to substantially reduce social welfare.
Maintaining Dynamic Competition in Procurement ContractsRachana Nirgudkar
This document provides a case study on competition in the London bus market. It summarizes that Transport for London regularly tenders bus routes, with contracts lasting 5-7 years. Using data from 2003-2015 on over 400 routes that were tendered at least twice, the study analyzes whether competition is being maintained over time. Key factors like learning effects, sunk costs of entry, switching costs, and capacity constraints are examined in terms of their impact on bidding behavior and future competition between incumbents and entrants. Market shares of major operators in London are also presented.
Many quality dimensions are hard to contract upon and are at risk of degradation when services are procured rather than produced in-house. However, procurement may foster performance-improving innovation. We assemble a large data set on elderly care services in Sweden between 1990 and 2009, including survival rates - our measure of non-contractible quality - and subjectively perceived quality of service. We estimate how procurement from private providers affects these measures using a difference-in-difference approach. The results indicate that procurement significantly increases non-contractible quality as measured by survival rate, reduces the cost per resident but does not affect subjectively perceived quality.
Based on my recent work with several co-authors this paper explores the relationship between discretion, reputation, competition and entry in procurement markets. I focus especially on public procurement, which is highly regulated for accountability and trade reasons. In Europe regulation constrains the use of past performance information to select contractors while in the US its use is encouraged. I present some novel evidence on the benefits of allowing buyers to use reputational indicators based on past performance and discuss the complementary roles of discretion and restricted competition in reinforcing relational/reputational forces, both in theory and in a new
empirical study on the effects restricted rather than open auctions. I conclude reporting preliminary results form a laboratory experiment showing that reputational mechanisms can be designed to stimulate rather than hindering new entry.
This paper reports results from a laboratory experiment exploring the relationship between reputation and entry in procurement. There is widespread concern among regulators that favoring suppliers with good past performance, a standard practice in private procurement, may hinder entry by new (smaller or foreign) firms in public procurement markets. Our results suggest that while some reputational mechanisms indeed reduce the frequency of entry, so that the concern is warranted, appropriately designed reputation mechanisms actually stimulate entry. Since quality increases but not prices, our data also suggest that the introduction of reputation may generate large welfare gains from the buyer.
This study focuses, firstly, on the pricing of electricity in the Finnish retail market. In particular, the impact of the ownership structure on prices is tested empirically. Secondly, the influence of low-cost electricity sources on retail prices is considered. The question about whether the average fuel costs rather than the wholesale price determines the retail prices is thus addressed. The supply side behaviour characterized may explain the passivity of client activity in the seemingly competitive Finnish market.
Portfolio of Buyer-Supplier Exchange Relationships in an Online Marketplace f...Eric van Heck
This document summarizes a study on portfolios of exchange relationships that buyers form with suppliers in an online marketplace for IT services. The study explores how buyers organize their supplier networks by analyzing patterns in their usage of auction vs. negotiation mechanisms, types of supplier relationships, and preferences for certain suppliers over multiple transactions. The study aims to develop a taxonomy of buyers' portfolio configurations and relate them to theoretical perspectives on how IT shapes economic exchange relationships, in order to provide a richer picture than previous studies that predicted uniform relationship types. Key dimensions for analyzing portfolio configurations include the extent of arm's-length vs. close supplier relationships, the usage of auction vs. negotiation mechanisms, and the complexity of IT projects involved in the transactions. The study also
We investigate the impact of procurement thresholds on strategic behavior of public buyers in Sweden. We document signs of “bunching” at the threshold, which suggests that strategic behavior in procurement is potentially important in Sweden, and should not be overlooked in the on-going public debate on the procurement thresholds. At the same time, data limitations do not allow us to access the impact of this strategic behavior on procurement outcomes and efficiency. This calls for better and more extensive procurement data collection.
In most jurisdictions, antitrust fines are based on affected commerce rather than on collusive profits, and in some others, caps on fines are introduced based on total firm sales rather than on affected commerce. We uncover a number of distortions that these policies generate, propose simple models to characterize their comparative static properties, and quantify them with simulations based on market data. We conclude by discussing the obvious need to depart from these distortive rules-of-thumb that appear to have the potential to substantially reduce social welfare.
Maintaining Dynamic Competition in Procurement ContractsRachana Nirgudkar
This document provides a case study on competition in the London bus market. It summarizes that Transport for London regularly tenders bus routes, with contracts lasting 5-7 years. Using data from 2003-2015 on over 400 routes that were tendered at least twice, the study analyzes whether competition is being maintained over time. Key factors like learning effects, sunk costs of entry, switching costs, and capacity constraints are examined in terms of their impact on bidding behavior and future competition between incumbents and entrants. Market shares of major operators in London are also presented.
ICANN is expected to release a second draft of its applicant guidebook for new generic top-level domains (gTLDs) like .blog or .nyc. The author argues that ICANN must make several key changes to address widespread opposition, including: 1) Eliminating ICANN's proposed 5% global domain name tax on registries; 2) Creating a "rebuttable reserve names list" to minimize defensive registrations by trademark holders; and 3) Recognizing a new class of "registrant-verified" TLDs to ensure accuracy of registration information. The author argues the proposed tax is arbitrary and unrelated to ICANN's costs, and amounts to a hidden global tax that could stifle
Hi people, I'm Maria and live in Portugal.
This is a presentation made by my 17-year-old son Tiago!
"A real smile make ALL the difference in the beggining of a friendship..." Tiago J Caires Teixeira
This document discusses the risks children face online and whether society is prepared to educate children about the internet. It warns that the internet can cause addiction in children of any age as they become immersed in it and spend less time engaging with the real world. However, the document also notes that the internet provides information and entertainment if used properly by children, but parents must teach their kids how to use it safely and avoid allowing them to become like robots obsessed with screens.
Dennis Carlton: Impact of new gTLD on consumer welfareclaytonnarcis
This document is a preliminary report by Dennis Carlton analyzing the impact of ICANN's proposed introduction of new generic top-level domains (gTLDs) on consumer welfare. Carlton concludes that the introduction of new gTLDs is likely to improve consumer welfare by increasing competition and facilitating entry. However, he acknowledges concerns raised by DOJ and NTIA about potential consumer confusion and costs to trademark holders. Ultimately, Carlton believes these concerns can be addressed through existing legal mechanisms and ICANN procedures, and that blocking new gTLDs would harm consumer welfare more than any potential issues.
Mergers Acquisitions and Other Restructuring Activities 9th Edition DePamphil...lujepyce
Full download : http://alibabadownload.com/product/mergers-acquisitions-and-other-restructuring-activities-9th-edition-depamphilis-solutions-manual/
Mergers Acquisitions and Other Restructuring Activities 9th Edition DePamphilis Solutions Manual
This document provides an overview of a model of competition between two interconnected telecommunications networks. The model analyzes both the transition period to competition and the mature competitive state. It considers how freely negotiated access charges that networks pay each other could impact competition both during transition and in maturity. The model assumes consumers choose a single network based on prices and network differentiation, and that calling patterns between networks are balanced statistically.
This document summarizes a research paper published in The RAND Journal of Economics. The paper develops a model to analyze competition between two interconnected telecommunications networks. It examines both the mature phase with two full-coverage networks, and the transition phase with one incumbent and one partial-coverage entrant. The model assumes a balanced calling pattern and reciprocal access pricing. It analyzes how the access charge affects competitiveness, and considers policies like cost-based access pricing and the efficient component pricing rule. The goal is to provide a conceptual framework for understanding unregulated network competition.
Competition policy in the digital age final projectAntonino Galo
This is a short description related to Regulator policy, Framework delimitations, directed to people involved in policy making about Competition Policy in Digital Era.
Soon brands will have the opportunity to apply for branded domains such as .coke or .ibm, or more generic domains such as .money or .food. The opportunities this will bring are laid out in this paper produced by Ogilvy New York’s Digital Strategy group.
This document discusses strategies for energy companies to mitigate regulatory risks when operating in deregulated markets. It outlines requirements that vary by state, including terms and conditions documents that must be provided to customers. Fines for noncompliance can be substantial. The document recommends automating processes for managing documents, increasing visibility of documents among stakeholders, clearly outlining approval processes, carefully managing changes, and streamlining vendors. It describes a regulatory document management system that can automate workflows and ensure accurate, timely delivery of required documents and communications.
Your public notice titled “Draft Amendments in Terms and Conditions for Regis...Dipak Parmar
The document is a letter responding to a public notice from NIXI regarding proposed amendments to the terms and conditions for domain name registrants. The letter expresses concerns that the amendments do not sufficiently distinguish between different types of registrants and could unfairly impact legitimate businesses. It argues that registrars, trademark owners, domain investors, and domain squatters are distinct stakeholders that should not be treated uniformly. The letter recommends prohibiting squatting, recognizing investing as a legitimate activity, and allowing advance registration by end-users to promote a competitive domain ecosystem.
The document provides an analysis of competition in the GB electricity retail market. It finds that while price competition is strong, barriers to entry remain, particularly for smaller suppliers, such as dealing with government policy and regulatory intervention, liquidity issues, and network charge instability. However, forcing changes to reduce barriers also carries costs, so policymakers need to ensure benefits of new entry outweigh these costs. The market is evolving rapidly due to decarbonization goals, so its future structure is uncertain. Overall competition compares well internationally, but pressure to innovate should continue.
The California Carbon Exchange is an online platform proposing to reduce transaction costs and risks associated with trading California carbon allowances and offsets. It aims to target small to medium covered entities currently excluded from offset markets. While the potential market is large, projections are uncertain due to market barriers. The Exchange seeks competitive advantages through exclusive relationships with an offset insurer and cooperative project operators, and by moving first. However, until more information is obtained, the author considers the risk too high to invest significantly.
Introduction to network quality arbitrageMartin Geddes
Many large operators have expressed a desire to undertake disruptive change, and we have often proposed an agenda for such change. What typically happens is that, after several rounds of engagement, we observe that there is little mainstream organisational appetite to engage in disruption. Why so?
The main reason is a perception gap between the current state of the art (which any leading operator delivers) and our understanding of the state of the possible (which most operators are very far from). This gap exaggerates the risks of engaging in disruption, and underestimates the potential rewards.
Another reason is that our industry as a whole implicitly believes that network service quality is a matter of detecting and rectifying ‘faults’. This framing inhibits the consideration of the alternative paradigm of networks as resource trading spaces. As a result, the significant ‘quality arbitrage’ that exists in all IP networks is not visible.
Operators face the risk that others will exploit the arbitrage opportunity, to their serious commercial disadvantage. This has happened before, e.g. with TDM and the rise of ISPs, and is happening now with SD-WAN. We propose that a larger multinational operators need to proactively initiate the disruption via a new business unit.
The document discusses considerations for applying for a new generic top-level domain (gTLD) under ICANN's new gTLD program. It outlines the application process, operational requirements, timeline, costs, and benefits and risks from a brand owner's perspective. Key points include that the application evaluation process is complex, with several rounds of review and potential objections. Successful applicants would need to meet technical and operational standards to securely operate the domain registry. The document advises brand owners to carefully consider their goals and draft a concept of use to guide decisions around business model, policies, providers and launch plan.
greenhouse-gas-allowance-allocation-cost-pass-through-sector-differentiation-...Eric Williams
This paper discusses options for allocating allowances in a cap-and-trade system for greenhouse gases. There are two main approaches: distributing allowances for free or auctioning them. The paper examines how to differentiate allocation across sectors based on their ability to pass costs through to consumers. Industries with more international competition and consumer sensitivity to price changes will have a harder time passing on costs and may need more free allowances, while industries with pricing power can pass on more costs through auctioned allowances. The electricity sector presents additional challenges for allocation due to differences between regulated and restructured electricity markets.
Transforming Legal Profession To Legal Services (Legal Industry Analysis)Timothy LaBadie
This document analyzes trends transforming the legal profession into a legal services industry. It finds that the legal industry is fundamentally changing due to changes in client demand, technology, and globalization.
In terms of demand, corporate clients are insisting on cheaper legal services while demanding higher value. They are increasingly using alternative fee agreements and moving work in-house. Clients also refuse to pay high rates for junior associates.
Globalization, in the form of legal process outsourcers, is taking routine legal work from law firms. Technology allows individual clients to be served by online providers and allows lawyers new ways to market themselves online. Cloud-based practices are also transforming law practice.
The old law firm model of
Boeing Australia Limited (BAL) is considering implementing an e-procurement system to streamline its procurement processes. Currently, BAL uses manual and paper-based processes that are inefficient. An e-procurement system could integrate with existing legacy systems and reduce redundancies. However, BAL must consider the high costs of sophisticated systems and ensure any new system meets the company's needs. The summary evaluates options for upgrading BAL's procurement while maintaining performance and customer relationships.
ICANN is expected to release a second draft of its applicant guidebook for new generic top-level domains (gTLDs) like .blog or .nyc. The author argues that ICANN must make several key changes to address widespread opposition, including: 1) Eliminating ICANN's proposed 5% global domain name tax on registries; 2) Creating a "rebuttable reserve names list" to minimize defensive registrations by trademark holders; and 3) Recognizing a new class of "registrant-verified" TLDs to ensure accuracy of registration information. The author argues the proposed tax is arbitrary and unrelated to ICANN's costs, and amounts to a hidden global tax that could stifle
Hi people, I'm Maria and live in Portugal.
This is a presentation made by my 17-year-old son Tiago!
"A real smile make ALL the difference in the beggining of a friendship..." Tiago J Caires Teixeira
This document discusses the risks children face online and whether society is prepared to educate children about the internet. It warns that the internet can cause addiction in children of any age as they become immersed in it and spend less time engaging with the real world. However, the document also notes that the internet provides information and entertainment if used properly by children, but parents must teach their kids how to use it safely and avoid allowing them to become like robots obsessed with screens.
Dennis Carlton: Impact of new gTLD on consumer welfareclaytonnarcis
This document is a preliminary report by Dennis Carlton analyzing the impact of ICANN's proposed introduction of new generic top-level domains (gTLDs) on consumer welfare. Carlton concludes that the introduction of new gTLDs is likely to improve consumer welfare by increasing competition and facilitating entry. However, he acknowledges concerns raised by DOJ and NTIA about potential consumer confusion and costs to trademark holders. Ultimately, Carlton believes these concerns can be addressed through existing legal mechanisms and ICANN procedures, and that blocking new gTLDs would harm consumer welfare more than any potential issues.
Mergers Acquisitions and Other Restructuring Activities 9th Edition DePamphil...lujepyce
Full download : http://alibabadownload.com/product/mergers-acquisitions-and-other-restructuring-activities-9th-edition-depamphilis-solutions-manual/
Mergers Acquisitions and Other Restructuring Activities 9th Edition DePamphilis Solutions Manual
This document provides an overview of a model of competition between two interconnected telecommunications networks. The model analyzes both the transition period to competition and the mature competitive state. It considers how freely negotiated access charges that networks pay each other could impact competition both during transition and in maturity. The model assumes consumers choose a single network based on prices and network differentiation, and that calling patterns between networks are balanced statistically.
This document summarizes a research paper published in The RAND Journal of Economics. The paper develops a model to analyze competition between two interconnected telecommunications networks. It examines both the mature phase with two full-coverage networks, and the transition phase with one incumbent and one partial-coverage entrant. The model assumes a balanced calling pattern and reciprocal access pricing. It analyzes how the access charge affects competitiveness, and considers policies like cost-based access pricing and the efficient component pricing rule. The goal is to provide a conceptual framework for understanding unregulated network competition.
Competition policy in the digital age final projectAntonino Galo
This is a short description related to Regulator policy, Framework delimitations, directed to people involved in policy making about Competition Policy in Digital Era.
Soon brands will have the opportunity to apply for branded domains such as .coke or .ibm, or more generic domains such as .money or .food. The opportunities this will bring are laid out in this paper produced by Ogilvy New York’s Digital Strategy group.
This document discusses strategies for energy companies to mitigate regulatory risks when operating in deregulated markets. It outlines requirements that vary by state, including terms and conditions documents that must be provided to customers. Fines for noncompliance can be substantial. The document recommends automating processes for managing documents, increasing visibility of documents among stakeholders, clearly outlining approval processes, carefully managing changes, and streamlining vendors. It describes a regulatory document management system that can automate workflows and ensure accurate, timely delivery of required documents and communications.
Your public notice titled “Draft Amendments in Terms and Conditions for Regis...Dipak Parmar
The document is a letter responding to a public notice from NIXI regarding proposed amendments to the terms and conditions for domain name registrants. The letter expresses concerns that the amendments do not sufficiently distinguish between different types of registrants and could unfairly impact legitimate businesses. It argues that registrars, trademark owners, domain investors, and domain squatters are distinct stakeholders that should not be treated uniformly. The letter recommends prohibiting squatting, recognizing investing as a legitimate activity, and allowing advance registration by end-users to promote a competitive domain ecosystem.
The document provides an analysis of competition in the GB electricity retail market. It finds that while price competition is strong, barriers to entry remain, particularly for smaller suppliers, such as dealing with government policy and regulatory intervention, liquidity issues, and network charge instability. However, forcing changes to reduce barriers also carries costs, so policymakers need to ensure benefits of new entry outweigh these costs. The market is evolving rapidly due to decarbonization goals, so its future structure is uncertain. Overall competition compares well internationally, but pressure to innovate should continue.
The California Carbon Exchange is an online platform proposing to reduce transaction costs and risks associated with trading California carbon allowances and offsets. It aims to target small to medium covered entities currently excluded from offset markets. While the potential market is large, projections are uncertain due to market barriers. The Exchange seeks competitive advantages through exclusive relationships with an offset insurer and cooperative project operators, and by moving first. However, until more information is obtained, the author considers the risk too high to invest significantly.
Introduction to network quality arbitrageMartin Geddes
Many large operators have expressed a desire to undertake disruptive change, and we have often proposed an agenda for such change. What typically happens is that, after several rounds of engagement, we observe that there is little mainstream organisational appetite to engage in disruption. Why so?
The main reason is a perception gap between the current state of the art (which any leading operator delivers) and our understanding of the state of the possible (which most operators are very far from). This gap exaggerates the risks of engaging in disruption, and underestimates the potential rewards.
Another reason is that our industry as a whole implicitly believes that network service quality is a matter of detecting and rectifying ‘faults’. This framing inhibits the consideration of the alternative paradigm of networks as resource trading spaces. As a result, the significant ‘quality arbitrage’ that exists in all IP networks is not visible.
Operators face the risk that others will exploit the arbitrage opportunity, to their serious commercial disadvantage. This has happened before, e.g. with TDM and the rise of ISPs, and is happening now with SD-WAN. We propose that a larger multinational operators need to proactively initiate the disruption via a new business unit.
The document discusses considerations for applying for a new generic top-level domain (gTLD) under ICANN's new gTLD program. It outlines the application process, operational requirements, timeline, costs, and benefits and risks from a brand owner's perspective. Key points include that the application evaluation process is complex, with several rounds of review and potential objections. Successful applicants would need to meet technical and operational standards to securely operate the domain registry. The document advises brand owners to carefully consider their goals and draft a concept of use to guide decisions around business model, policies, providers and launch plan.
greenhouse-gas-allowance-allocation-cost-pass-through-sector-differentiation-...Eric Williams
This paper discusses options for allocating allowances in a cap-and-trade system for greenhouse gases. There are two main approaches: distributing allowances for free or auctioning them. The paper examines how to differentiate allocation across sectors based on their ability to pass costs through to consumers. Industries with more international competition and consumer sensitivity to price changes will have a harder time passing on costs and may need more free allowances, while industries with pricing power can pass on more costs through auctioned allowances. The electricity sector presents additional challenges for allocation due to differences between regulated and restructured electricity markets.
Transforming Legal Profession To Legal Services (Legal Industry Analysis)Timothy LaBadie
This document analyzes trends transforming the legal profession into a legal services industry. It finds that the legal industry is fundamentally changing due to changes in client demand, technology, and globalization.
In terms of demand, corporate clients are insisting on cheaper legal services while demanding higher value. They are increasingly using alternative fee agreements and moving work in-house. Clients also refuse to pay high rates for junior associates.
Globalization, in the form of legal process outsourcers, is taking routine legal work from law firms. Technology allows individual clients to be served by online providers and allows lawyers new ways to market themselves online. Cloud-based practices are also transforming law practice.
The old law firm model of
Boeing Australia Limited (BAL) is considering implementing an e-procurement system to streamline its procurement processes. Currently, BAL uses manual and paper-based processes that are inefficient. An e-procurement system could integrate with existing legacy systems and reduce redundancies. However, BAL must consider the high costs of sophisticated systems and ensure any new system meets the company's needs. The summary evaluates options for upgrading BAL's procurement while maintaining performance and customer relationships.
This document summarizes a study on surge pricing in transportation network economies. It begins by explaining how dynamic pricing allows prices to change quickly based on demand without significant costs. Dynamic pricing is common in sharing economies and industries with digital sales. The transportation industry, including ridesharing services, uses dynamic pricing where prices surge to match supply and demand. However, consumers have complained about excessive surge pricing in some cases. The document aims to analyze surge pricing as a potential case of excessive pricing and how authorities should regulate dynamic prices. It provides background on dynamic pricing applications and benefits across industries before focusing on its use and effects in the transportation sector.
Merger Review process has evolved over a period of time. This is evident from the changing focus on consideration of efficiencies in merger analysis. However, a cross-country comparison shows that as of date consideration of efficiency has become almost an integral part of merger review. The article details this discussion.
CH&Co - Supporting the development and adoption of RegTechNicolas Heguy
This presentation was submitted in January 2016 as an answer to the UK Financial Conduct Authority’s Call for Input on Regtech.
We’re publishing it also here to foster wider discussion on development and adoption of RegTech in the UK.
Special thanks to @Stephane_eyraud, @Patrick_bucquet, @Ekaterina_diakonova, @Sebastien_meunier and @Jean-stephane_gourevitch
James Baldwin Notes Of A Native Son 50 EssaysKaty Shaw
This document summarizes and analyzes Shakespeare's Sonnet 73. It discusses how the sonnet presents death through the speaker's acknowledgment of his aging and inevitable mortality. The speaker is perturbed by death but knows it is certain. Shakespeare explores the idea that death will come and bring sorrow for what is lost as time deteriorates the speaker. However, the sonnet lessens the harshness of decline by saying the spirit shall survive eternal. The document compares this to Macbeth, who unlike the speaker, shows no fear of death even when his end comes.
The document discusses three main topics:
1) An operational point of contact proposal for registrar Whois data is moving forward with minor changes from prior presentations. It would require publishing a thin data set and deprecating some contact information.
2) A new proposal from some groups would require all Whois data to be published in a centralized thick registry. Registrants could opt out for a fee paid through a third party.
3) Plans for new gTLDs include a thorough application process funded by fees. Strings must meet criteria and not be confusing, infringing, or contrary to policy. Registries must use registrars and agreements will have consistency and renewal expectations.
Similar to Dennis Carlton: Price caps on new gTLD registries (20)
Driving Business Innovation: Latest Generative AI Advancements & Success StorySafe Software
Are you ready to revolutionize how you handle data? Join us for a webinar where we’ll bring you up to speed with the latest advancements in Generative AI technology and discover how leveraging FME with tools from giants like Google Gemini, Amazon, and Microsoft OpenAI can supercharge your workflow efficiency.
During the hour, we’ll take you through:
Guest Speaker Segment with Hannah Barrington: Dive into the world of dynamic real estate marketing with Hannah, the Marketing Manager at Workspace Group. Hear firsthand how their team generates engaging descriptions for thousands of office units by integrating diverse data sources—from PDF floorplans to web pages—using FME transformers, like OpenAIVisionConnector and AnthropicVisionConnector. This use case will show you how GenAI can streamline content creation for marketing across the board.
Ollama Use Case: Learn how Scenario Specialist Dmitri Bagh has utilized Ollama within FME to input data, create custom models, and enhance security protocols. This segment will include demos to illustrate the full capabilities of FME in AI-driven processes.
Custom AI Models: Discover how to leverage FME to build personalized AI models using your data. Whether it’s populating a model with local data for added security or integrating public AI tools, find out how FME facilitates a versatile and secure approach to AI.
We’ll wrap up with a live Q&A session where you can engage with our experts on your specific use cases, and learn more about optimizing your data workflows with AI.
This webinar is ideal for professionals seeking to harness the power of AI within their data management systems while ensuring high levels of customization and security. Whether you're a novice or an expert, gain actionable insights and strategies to elevate your data processes. Join us to see how FME and AI can revolutionize how you work with data!
Essentials of Automations: The Art of Triggers and Actions in FMESafe Software
In this second installment of our Essentials of Automations webinar series, we’ll explore the landscape of triggers and actions, guiding you through the nuances of authoring and adapting workspaces for seamless automations. Gain an understanding of the full spectrum of triggers and actions available in FME, empowering you to enhance your workspaces for efficient automation.
We’ll kick things off by showcasing the most commonly used event-based triggers, introducing you to various automation workflows like manual triggers, schedules, directory watchers, and more. Plus, see how these elements play out in real scenarios.
Whether you’re tweaking your current setup or building from the ground up, this session will arm you with the tools and insights needed to transform your FME usage into a powerhouse of productivity. Join us to discover effective strategies that simplify complex processes, enhancing your productivity and transforming your data management practices with FME. Let’s turn complexity into clarity and make your workspaces work wonders!
Dr. Sean Tan, Head of Data Science, Changi Airport Group
Discover how Changi Airport Group (CAG) leverages graph technologies and generative AI to revolutionize their search capabilities. This session delves into the unique search needs of CAG’s diverse passengers and customers, showcasing how graph data structures enhance the accuracy and relevance of AI-generated search results, mitigating the risk of “hallucinations” and improving the overall customer journey.
“An Outlook of the Ongoing and Future Relationship between Blockchain Technologies and Process-aware Information Systems.” Invited talk at the joint workshop on Blockchain for Information Systems (BC4IS) and Blockchain for Trusted Data Sharing (B4TDS), co-located with with the 36th International Conference on Advanced Information Systems Engineering (CAiSE), 3 June 2024, Limassol, Cyprus.
Full-RAG: A modern architecture for hyper-personalizationZilliz
Mike Del Balso, CEO & Co-Founder at Tecton, presents "Full RAG," a novel approach to AI recommendation systems, aiming to push beyond the limitations of traditional models through a deep integration of contextual insights and real-time data, leveraging the Retrieval-Augmented Generation architecture. This talk will outline Full RAG's potential to significantly enhance personalization, address engineering challenges such as data management and model training, and introduce data enrichment with reranking as a key solution. Attendees will gain crucial insights into the importance of hyperpersonalization in AI, the capabilities of Full RAG for advanced personalization, and strategies for managing complex data integrations for deploying cutting-edge AI solutions.
Why You Should Replace Windows 11 with Nitrux Linux 3.5.0 for enhanced perfor...SOFTTECHHUB
The choice of an operating system plays a pivotal role in shaping our computing experience. For decades, Microsoft's Windows has dominated the market, offering a familiar and widely adopted platform for personal and professional use. However, as technological advancements continue to push the boundaries of innovation, alternative operating systems have emerged, challenging the status quo and offering users a fresh perspective on computing.
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HCL Notes und Domino Lizenzkostenreduzierung in der Welt von DLAUpanagenda
Webinar Recording: https://www.panagenda.com/webinars/hcl-notes-und-domino-lizenzkostenreduzierung-in-der-welt-von-dlau/
DLAU und die Lizenzen nach dem CCB- und CCX-Modell sind für viele in der HCL-Community seit letztem Jahr ein heißes Thema. Als Notes- oder Domino-Kunde haben Sie vielleicht mit unerwartet hohen Benutzerzahlen und Lizenzgebühren zu kämpfen. Sie fragen sich vielleicht, wie diese neue Art der Lizenzierung funktioniert und welchen Nutzen sie Ihnen bringt. Vor allem wollen Sie sicherlich Ihr Budget einhalten und Kosten sparen, wo immer möglich. Das verstehen wir und wir möchten Ihnen dabei helfen!
Wir erklären Ihnen, wie Sie häufige Konfigurationsprobleme lösen können, die dazu führen können, dass mehr Benutzer gezählt werden als nötig, und wie Sie überflüssige oder ungenutzte Konten identifizieren und entfernen können, um Geld zu sparen. Es gibt auch einige Ansätze, die zu unnötigen Ausgaben führen können, z. B. wenn ein Personendokument anstelle eines Mail-Ins für geteilte Mailboxen verwendet wird. Wir zeigen Ihnen solche Fälle und deren Lösungen. Und natürlich erklären wir Ihnen das neue Lizenzmodell.
Nehmen Sie an diesem Webinar teil, bei dem HCL-Ambassador Marc Thomas und Gastredner Franz Walder Ihnen diese neue Welt näherbringen. Es vermittelt Ihnen die Tools und das Know-how, um den Überblick zu bewahren. Sie werden in der Lage sein, Ihre Kosten durch eine optimierte Domino-Konfiguration zu reduzieren und auch in Zukunft gering zu halten.
Diese Themen werden behandelt
- Reduzierung der Lizenzkosten durch Auffinden und Beheben von Fehlkonfigurationen und überflüssigen Konten
- Wie funktionieren CCB- und CCX-Lizenzen wirklich?
- Verstehen des DLAU-Tools und wie man es am besten nutzt
- Tipps für häufige Problembereiche, wie z. B. Team-Postfächer, Funktions-/Testbenutzer usw.
- Praxisbeispiele und Best Practices zum sofortigen Umsetzen
HCL Notes and Domino License Cost Reduction in the World of DLAUpanagenda
Webinar Recording: https://www.panagenda.com/webinars/hcl-notes-and-domino-license-cost-reduction-in-the-world-of-dlau/
The introduction of DLAU and the CCB & CCX licensing model caused quite a stir in the HCL community. As a Notes and Domino customer, you may have faced challenges with unexpected user counts and license costs. You probably have questions on how this new licensing approach works and how to benefit from it. Most importantly, you likely have budget constraints and want to save money where possible. Don’t worry, we can help with all of this!
We’ll show you how to fix common misconfigurations that cause higher-than-expected user counts, and how to identify accounts which you can deactivate to save money. There are also frequent patterns that can cause unnecessary cost, like using a person document instead of a mail-in for shared mailboxes. We’ll provide examples and solutions for those as well. And naturally we’ll explain the new licensing model.
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These topics will be covered
- Reducing license cost by finding and fixing misconfigurations and superfluous accounts
- How do CCB and CCX licenses really work?
- Understanding the DLAU tool and how to best utilize it
- Tips for common problem areas, like team mailboxes, functional/test users, etc
- Practical examples and best practices to implement right away
HCL Notes and Domino License Cost Reduction in the World of DLAU
Dennis Carlton: Price caps on new gTLD registries
1. PRELIMINARY ANALYSIS OF DENNIS CARLTON
REGARDING PRICE CAPS
FOR NEW gTLD INTERNET REGISTRIES
March 2009
I. INTRODUCTION
A. QUALIFICATIONS
1. I am the Katherine Dusak Miller Professor of Economics at the University
of Chicago Booth School of Business. I received my A.B. in Applied Mathematics and
Economics from Harvard University and my M.S. in Operations Research and Ph.D. in
Economics from the Massachusetts Institute of Technology. I have served on the
faculties of the Law School and the Department of Economics at The University of
Chicago and the Department of Economics at the Massachusetts Institute of Technology.
2. I specialize in the economics of industrial organization, which is the study
of individual markets and includes the study of antitrust and regulatory issues. I am co-
author of the book Modern Industrial Organization, a leading text in the field of industrial
organization, and I also have published numerous articles in academic journals and
books. In addition, I am Co-Editor of the Journal of Law and Economics, a leading
journal that publishes research applying economic analysis to industrial organization and
legal matters, and serve, or have served, as an editor of a variety of scholarly journals.
3. In addition to my academic experience, I am a Senior Managing Director
of Compass Lexecon, a consulting firm that specializes in the application of economics to
legal and regulatory issues. From October 2006 through January 2008, I served as
Deputy Assistant Attorney General for Economic Analysis, Antitrust Division, U.S.
2. 2
Department of Justice, the most senior position in the Antitrust Division held by an
economist. I also served as a Commissioner of the Antitrust Modernization Commission,
created by the U.S. Congress in 2002 to evaluate U.S. antitrust laws. I have provided
expert testimony before various U.S., state and federal courts, the U.S. Congress, a
variety of state and federal regulatory agencies and foreign tribunals and have served as a
consultant to the Department of Justice, the Federal Trade Commission and other
government agencies.
B. SUMMARY OF CONCLUSIONS
4. The proposal that the ICANN Board of Directors recently approved to
authorize new processes for introducing new generic top-level domains “gTLDs” holds
the promise of increasing competition faced by the operators of the registries for the
major current TLDs including .com, .net, and .org. I have been asked by counsel for
ICANN to address whether price caps that limit future increases in prices charged to
registrars of these new gTLDs would be necessary to insure the potential competitive
benefits of the new gTLDs. I limit my analysis here only to issues associated with
competition, and do not address issues associated with consumer confusion or intellectual
property. Those issues are addressed in “Preliminary Report of Dennis Carlton
Regarding Impact of New gTLDs on Consumer Welfare”.
5. I conclude that price caps or ceilings on prices charged by operators of
new gTLD registries are unnecessary to insure competitive benefits of the proposed
process for introducing new gTLDs. I further conclude that imposing price caps on the
registries for new gTLDs could inhibit the development and marketplace acceptance of
3. 3
new gTLDs by limiting the pricing flexibility of entrants to the provision of new registry
services without generating significant benefits to registrants of the new gTLDs.
II. COMPETITIVE IMPACT OF PRICE CAPS FOR gTLDs
A. PRICE CAPS LIMIT THE POTENTIAL COMPETITIVE
BENEFITS OF NEW gTLDs.
6. Despite the introduction of TLDs in recent years, Internet activity today
continues to be dominated by a small number of registries. For example, the .com TLD
today has more than 77 million registered domain names while the .net TLD, the next
largest registry for generic TLDs, has roughly 12 million.1 Both of these registries are
managed by VeriSign. The next biggest gTLD, .org, today accounts for roughly 7
million active domain names. While a handful of new gTLDs have been introduced in
recent years, these have achieved only limited success in attracting registrants and
Internet activity. For example, the .info gTLD, introduced in 2001, has attracted roughly
5 million domain names, while .biz, also introduced in 2001, has attracted about 2 million
domain names.
7. In 2007, the Generic Names Supporting Organization (GNSO) completed
a comprehensive report to ICANN with respect to new gTLDs. This report correctly
recognizes that the development of a new process for introducing new gTLDs promises
to encourage new competition into the provision of registry services with the potential to
generate significant benefits to consumers. As noted in the recommendations to ICANN:
…the introduction of a new top-level domain application process has the
potential to promote competition in the provision of registry services, and
1. ICANN Registry Operator Monthly Reports June 2008.
(http://www.icann.org/en/tlds/monthly-reports/)
4. 4
to add to consumer choice, market differentiation and geographic and
service-provider diversity.” 2
8. The introduction of new TLD registries will enable new entrants to the
provision of registry services to experiment with new approaches for attracting domains
and Internet traffic. The introduction of new TLDs promises to enhance competition in
the provision of registry services with respect to both price and service quality. The
introduction of new TLDs also will enable operators of new registries to experiment with
new marketing and pricing models.
9. The absence of price caps would likely facilitate experimentation by new
gTLD registries with respect to pricing mechanisms. 3 For example, some new gTLD
operators might offer significantly lower initial prices without restricting their ability to
increase prices in the future (whereas the existence of price caps likely would inhibit the
introduction of extremely low initial prices). Some consumers may prefer to trade off a
lower initial price for a potential future price increase. Alternatively, new registry
operators may choose to experiment with usage based pricing. Other new gTLD
registries might attempt to attract new registrars and/or end users by offering long-term
contracts that limit future price changes.
10. Placing price caps on new TLD registries limits pricing flexibility and
reduces the ability of entrants to innovate and succeed.
2. ICANN Generic Names Supporting Organization Board Report: Introduction of New
Generic Top-Level Domains, September 2007, p. 28.
3. I understand that ICANN is also considering whether to require separation between
operators of new gTLD registries and registrars, as is required under current
agreements. My analysis considers the competitive effects of price caps for both sets
of potential consumers of registry services.
5. 5
B. PRICE CAPS ARE UNLIKELY TO GENERATE SIGNIFICANT
CONSUMER BENEFITS.
1. Switching costs create incentives for “ex ante” competition
among suppliers.
11. Registrants that adopt a particular Internet domain name face costs from
switching registries because the use of the TLD in the domain name prevents Internet
addresses from being ported across registries. That is, the holder of a domain name that
wants to switch registries must, at a minimum, adopt a new TLD. Switching costs arise
for a variety of products and industries and the existence of such costs can make
customers, to some degree, beholden to their suppliers. This can create an incentive for
registry operators to act opportunistically by raising prices above levels consumers might
reasonably expect. Proponents of incorporating price caps for registry services into
registry contracts might argue that such caps eliminate the risk of such opportunistic
behavior by registries.
12. However, competition among suppliers to attract new customers in
markets characterized by switching costs limits or eliminates the suppliers’ incentive and
ability to act opportunistically. For example, a supplier that imposes unexpected or
unreasonable price increases will quickly harm its reputation making it more difficult for
it to continue to attract new customers. Therefore, even in the absence of price caps,
competition can reduce or eliminate the incentive for suppliers to act opportunistically.
13. The economic literature recognizes the role of “ex ante” competition in
discouraging opportunistic behavior by suppliers of products that embody switching
costs. For example, a leading academic study of switching costs notes:
6. 6
The monopoly power that firms gain over their respective market
segments leads to vigorous competition for market share before
consumers have attached themselves to suppliers. 4
14. The economic literature further recognizes that a firm that acts
opportunistically in dealing with customers facing switching costs is likely to suffer harm
to its reputation, which limits its ability to attract new customers in the long-run:
… every seller has “captive” buyers in the short run. We should
not worry about slight degrees of monopoly power; the free market
will take care of them faster than antitrust law could do. The seller
who exploits its “monopoly” over replacement parts will find
himself without many purchasers of his original equipment in the
next period. 5
15. This sentiment is also echoed by Shapiro (1995) in his analysis of the U.S.
Supreme Court’s decision in Eastman Kodak Co. v. Image Technical Services, Inc. 6 This
case involved claims that Kodak violated antitrust laws by limiting its customers’ ability
to obtain replacement parts from firms other than Kodak. Shapiro concludes that
suppliers in growing markets face the strongest incentives to preserve their reputation and
thus to avoid opportunistic behavior. 7 This is because, in a growing market, an
opportunistic firm risks greater future losses than do similar firms in stable or declining
markets. Thus, the rationale for imposing price caps is weakest in rapidly growing
industries.
4. Klemperer, Paul. “Markets with Consumer Switching Costs” Quarterly
Journal of Economics 102 (1987), 375-394, p. 377. I reached similar
conclusions in my own analysis of the Kodak case. Carlton, Dennis. “A
General Analysis of Exclusionary Conduct and Refusal to Deal – Why Aspen
and Kodak are Misguided,” Antitrust Law Journal 68 (2001), 659-683, p. 679.
5. Posner, Richard. Antitrust Law, 2nd Edition. Chicago: University of Chicago Press,
2001, p. 230.
6. Shapiro, Carl. “Aftermarkets and Consumer Welfare: Making Sense of Kodak,”
Antitrust Law Journal 63 (1994), 483-511.
7. Shapiro (1994), p 490.
7. 7
16. Ex ante competition serves to protect both uninformed consumers, which
face greater risk of opportunistic price increases, as well as better informed consumers
because both sets of consumers pay the same prices. In addition, other contractual
mechanisms can be negotiated to avoid opportunistic behavior by suppliers. For
example, firms and customers may enter into long-term contracts with renewal provisions
that specify a supplier’s ability to change prices over time.
2. Competition among existing and new TLD registries limits
concerns about opportunistic behavior.
17. As early as 1998, the Federal Trade Commission (“FTC”) concluded that
the existence of switching costs faced by holders of domain names did not raise a
significant impediment to the privatization of the Internet Domain Name System. In
response to the National Telecommunications and Information Administration’s request
for comments on this issue, the FTC concluded:
It would appear plausible that the absence of domain name portability
across registries could impose a switching cost on users who change
registries... It is theoretically possible, therefore, that a supplier could
raise the future prices to locked-in customers…
The economic analysis of markets with switching costs has identified a
number of factors that, in appropriate circumstances, can diminish the
ability and the incentive of a supplier to act opportunistically with respect
to its locked-in customers….
Overall, we would conclude that while the possibility of supplier
opportunism exists, the potential benefits to customers from enhanced
competition – such as possible price reductions and quality improvements
– argue in favor of [assignment of registries to for-profit firms]. 8
18. Today, competition among a variety of TLDs reduces concerns about
opportunistic behavior by new gTLD registries that may result from switching costs faced
8. Comment of the Staffs of the Bureaus of Economics and Competition of the FTC – In
the Matter of Improvement of Technical Management of Internet Names and
Addresses” March 23, 1998, p. 3-4.
8. 8
by registrants of new domain names. First, new gTLD registries face competition from a
wide variety of alternatives, including the major existing TLDs (.com, .net, .org), less
established existing TLDs (e.g., info, .biz), country-code TLDs, sponsored TLDs (such as
.museum, .aero), and other new gTLD entrants. The existence of these alternatives
implies that new gTLDs are unlikely to be successful in attracting a significant number of
new registrants if they engage in opportunistic behavior that harms their reputation.
Under these circumstances, price caps are not necessary to protect registrants using the
new gTLD registries.
19. Concerns about opportunistic behavior by registry operators are further
limited to the extent that new gTLDs provide services using registrars. It would be
expected that registrars’ on-going involvement in the provision of domain-name related
services leaves them well informed about potentially opportunistic behavior by registry
operators and in a position to shift potential customers away from new gTLDs that act in
this manner.
20. The fact that major TLDs are currently subject to price caps further
constrains the ability of new gTLD registry operators to charge non-competitive prices.
More specifically, the current agreements between the U.S. Department of Commerce,
ICANN, and VeriSign cap the price increases that VeriSign can charge registrars for both
the .com and .net TLDs. Several other non-sponsored TLDs (such as .info and .biz) are
also subject to price caps. While the appropriateness of these price caps may be
debatable, the existence of the caps limits the prices that new gTLDs can charge by
capping the price that the major registry operators can charge.
9. 9
21. While the major TLDs are subject to price caps, a number of the new
sponsored TLDs, such as .museum, .travel, and .tel, are not. I am unaware of any
complaints from registrars or end-users that obtain services from these new sponsored
TLDs that their registries have acted opportunistically by raising prices significantly to
existing customers. This provides further evidence that price caps are not necessary to
protect registrants from opportunistic behavior by new gTLD registries.
22. Finally, the continuing growth of Internet services further reduces
concerns about opportunistic behavior by operators of the new gTLD registries. As noted
above, incentives for opportunistic behavior are lower in rapidly growing industries. The
number of registered domain names as well as aggregate Internet usage has grown
dramatically in recent years and is expected to continue its rapid growth. In addition, the
number of Internet users in the U.S. has grown from roughly 31 million in 1997, to 90
million in 2000 and to more than 143 million in 2006. 9 The Internet is projected to
continue this growth in the future. For example, total IP traffic is projected to increase
sixfold from 2007 to 2012. 10 Under these circumstances, operators of new gTLD
registries that acted opportunistically would face the loss of significant future business.
III. CONCLUSION
23. There are a variety of market mechanisms that protect consumers who
face switching costs, such as holders of domain names of new gTLD registries. In the
absence of price caps, operators of new gTLD registries that attempt to act
opportunistically by raising prices above levels that can be reasonably expected face
9. Statistical Abstract of the United States 2006: Internet Usage and Online Services
(http://www.census.gov)
10. See “Cisco Visual Networking Index – Forecast and Methodology, 2007-12”
available at http://newsroom.cisco.com/dlls/2008/prod_061608b.html
10. 10
significant risk of harming their reputation and the loss of future customers. These risks
are heightened by the availability of domain names from a wide variety of alternative
registries, by the fact that prices charged by the major registries are already subject to
price caps, and by the expected continued growth of the Internet. At the same time,
requiring new gTLDs to cap their prices limits their flexibility in attempting to attract
new customers, conflicting with ICANN’s well-considered goal of fostering competition
in the provision of registry services by facilitating the introduction of new gTLDs.