The relevance of import competition to merger assessment in Australia

The Australian Competition and Consumer Commission has been criticised for failing to take due account of the impact import competition has on domestic firms when assessing whether or not a proposed merger will be likely to substantially lessen competition. This article reviews the approach taken by the ACCC to import competition in its merger assessments. Consideration is given to both the policy adopted by the ACCC and the statistical relevance that has, in fact, been placed on import competition in merger assessment. A conclusion is then drawn as to the appropriateness of the ACCC's current policy and practice.

Hot working microstructure map for magnesium AZ31

A thermomechanical processing (TMP) structure map is proposed that plots the critical strains required for dynamic recrystallization along with the grain sizes that result. These maps are useful in identifying the limits to grain refinement and designing hot working processes. They are readily constructed for well studied alloys such as plain carbon steel. In light of the recent interest in the hot working of magnesium, initial steps are taken here to construct a TMP structure map for the most common wrought magnesium alloy, AZ31. The completion of dynamic recrystallization is estimated using a geometrical approach and a twinning region is identified.

Cultural orienteering: a map for Anthony Browne`s into the forest

Bullen and Parsons identify Anthony Browne's picture book Into the Forest as a re-gendered retelling of 'Little Red Riding Hood' that expresses recent assumptions about childhood, risk and the resources children need to survive in today's world. In Browne's version, the forest is the terrain in which a young male protagonist imaginatively explores his anxiety about his father's unexplained absence.

Competition policy and prevention of abuses in the TRIPS agreement

The monopoly granted through intellectual property rights can lead to abuses ofsuch monopoly. The TRIPS Agreement recognizes such abuses along with the fact that competition policy can play a significant role in dealing with such abuses. The use of competition policy to deal with the abuse of IP monopolies reguires a discussion ofabuse of the dominant position, definition ot market and substitutability of products and whether the
patenting monopoly automatically puts the right holder in the dominant position. The issue of parallel trade and exhaustion of rights also has anti-competitive implications. The introduction of discriminatory pricing along with any ban on parallel trade would lead to absolute market control, market segregation and market exclusion by the monopolistic industries. [JEL Classiffication: K21, K33]

The effect of private school competition on public school performance in Georgia

This article presents estimates of the effect of private school competition on public school performance. Using data on school districts in Georgia, the authors estimate models relating tenth- and third-grade test scores for either reading or mathematics to the level of private school competition. Test scores are not measurably or significantly higher in areas with greater private school competition, a result robust through multiple estimations using three measures of private school competition and a variety of control variables. The authors address the possible endogeneity between test scores and private school competition using instrumental variables estimators, with percentage of the population that is Catholic, county population in 1980, lagged competition, and various other measures as alternative instruments.

Activation of MAP kinase by insulin and vanadate in adipocytes from young and old rats

Vanadate has insulin-like effects in adipocytes without stimulating insulin receptor kinase activity. However, it activates IRS-1 associated PI 3-kinase, suggesting that it mimics insulin effects by stimulating signaling elements downstream of PI 3-kinase. Here we analysed the stimulation of MAPK by insulin and vanadate and observed that both elicit a rapid 3.5–4 fold activation which is abolished by wortmannin and PD98059. Simultaneous addition of insulin and vanadate does not result in an additive effect neither on MAPK nor in MEK. Whereas insulin action is transient, vanadate stimulation lasts up to 20 min. In insulin-resistant adipocytes from old rats, insulin stimulates poorly MAPK, whereas a normal activation is achieved with vanadate. We conclude that: (a) insulin and vanadate use a common signaling pathway from PI 3-kinase to MEK and MAPK; (b) vanadate but not insulin, elicits a sustained activation of both enzymes; (c) this pathway is functional in old rat adipocytes.

The market for financial report audits : regulation of and competition for auditor independence

The independence of auditors and the quality of financial report audits generally are rarely tested except in circumstances of corporate failure when alleged sub-optimality is present. Often auditors have good defences as to their expertise or competency, but rarely do they have equally convincing defences for the independence of their audit. A major issue for the regulation of auditor independence is that the threats to independence are often subtle and difficult to measure. This paper argues that firms undertaking financial report audits need to be transparent and competitive in respect of auditor independence. Two models that adopt this premise are proposed.

The bio-economy and the competition state : transcending the dichotomy between coordinated and liberal market economies

This article examines the role of the state in the emerging bio-economy. The starting point is that state interventions, including supportive regulatory arrangements and the shaping of public attitudes, constitute core assets in the evolution of bio-industrial complexes. Public policy in the bio-economy, across advanced industrial countries, is well captured by the “competition state” concept. This type of state takes different forms, analogously with the historical variants of the Keynesian welfare state. The article compares patterns of governance of the biotechnology sector in Finland and Sweden, the USA and the UK, and Australia. It is concluded that the bio-industry sector does not fit with the “models of capitalism” paradigm which postulates coherence within, and systemic divergences between, national models of economic governance. The bio-economy displays trends toward convergence, in particular mounting public investments in health care and in research and development. On the other hand, countries differ in their approach to market regulation, industrial support, and ethical restrictions. These differences do not follow the dichotomy between “liberal” and “coordinated” models of capitalism.