Methods and trends of performance benchmarking in UK utility regulation

Regulation is subject to information asymmetries that can lead to allocative and productive inefficiencies. One solution, suggested by Shleifer in 1985 and now adopted by many regulatory bodies round the world, is 'benchmarking', which is sometimes called 'yardstick competition'. In this paper we consider Shleifer's original approach to benchmarking and contrast this with the actual use of benchmarking by UK regulatory bodies in telecommunications, water and the energy sector since the privatizations of the 1980s and early 1990s. We find that benchmarking plays only one part and sometimes a small part in the setting of regulatory price caps in the UK. We also find that in practice benchmarking has been subject to a number of difficulties, which mean that it is never likely to be more than one tool in the regulator's armoury. The UK's experience provides lessons for regulation internationally. © 2006 Elsevier Ltd. All rights reserved.

Finitely coordinated models for low-temperature phases of amorphous systems

We introduce models of heterogeneous systems with finite connectivity defined on random graphs to capture finite-coordination effects on the low-temperature behaviour of finite-dimensional systems. Our models use a description in terms of small deviations of particle coordinates from a set of reference positions, particularly appropriate for the description of low-temperature phenomena. A Born-von Karman-type expansion with random coefficients is used to model effects of frozen heterogeneities. The key quantity appearing in the theoretical description is a full distribution of effective single-site potentials which needs to be determined self-consistently. If microscopic interactions are harmonic, the effective single-site potentials turn out to be harmonic as well, and the distribution of these single-site potentials is equivalent to a distribution of localization lengths used earlier in the description of chemical gels. For structural glasses characterized by frustration and anharmonicities in the microscopic interactions, the distribution of single-site potentials involves anharmonicities of all orders, and both single-well and double-well potentials are observed, the latter with a broad spectrum of barrier heights. The appearance of glassy phases at low temperatures is marked by the appearance of asymmetries in the distribution of single-site potentials, as previously observed for fully connected systems. Double-well potentials with a broad spectrum of barrier heights and asymmetries would give rise to the well-known universal glassy low-temperature anomalies when quantum effects are taken into account. © 2007 IOP Publishing Ltd.

Three-dimensional modeling of the human eye based on magnetic resonance imaging

PURPOSE. A methodology for noninvasively characterizing the three-dimensional (3-D) shape of the complete human eye is not currently available for research into ocular diseases that have a structural substrate, such as myopia. A novel application of a magnetic resonance imaging (MRI) acquisition and analysis technique is presented that, for the first time, allows the 3-D shape of the eye to be investigated fully. METHODS. The technique involves the acquisition of a T2-weighted MRI, which is optimized to reveal the fluid-filled chambers of the eye. Automatic segmentation and meshing algorithms generate a 3-D surface model, which can be shaded with morphologic parameters such as distance from the posterior corneal pole and deviation from sphericity. Full details of the method are illustrated with data from 14 eyes of seven individuals. The spatial accuracy of the calculated models is demonstrated by comparing the MRI-derived axial lengths with values measured in the same eyes using interferometry. RESULTS. The color-coded eye models showed substantial variation in the absolute size of the 14 eyes. Variations in the sphericity of the eyes were also evident, with some appearing approximately spherical whereas others were clearly oblate and one was slightly prolate. Nasal-temporal asymmetries were noted in some subjects. CONCLUSIONS. The MRI acquisition and analysis technique allows a novel way of examining 3-D ocular shape. The ability to stratify and analyze eye shape, ocular volume, and sphericity will further extend the understanding of which specific biometric parameters predispose emmetropic children subsequently to develop myopia. Copyright © Association for Research in Vision and Ophthalmology.

Hemispherical differences in the pattern onset visual evoked magnetic response

Recently, hemispherical asymmetries have been demonstrated for primary visual processing suggesting that basic spatiotemporal features of the stimulus may play a role in the lateralisation effects that have been observed in the human brain. However, to our knowledge no studies have reported hemispheric differences using magnetoencephalography (MEG). Hence, the objective of this study was to determine whether MEG could detect hemispherical asymmetry to the onset of a checkerboard pattern.

Laterality differences in memory and attention

A critical review of the auditory selective attention literature is presented, particular reference is made to methodological issues arising from the asymmetrical hemispheric representation of language in the context of the dominant research technique dichotic shadowing. Subsequently the concept of cerebral localization is introduced, and the experimental literature with reference to models of laterality effects in speech and audition discussed. The review indicated the importance of hemispheric asymmetries insofar as they might influence the results of dichotic shadowing tasks. It is suggested that there is a potential overlap between models of selective attention and hemispheric differences. In Experiment I, ~ a key experiment in auditory selective attention is replicated and by exercising control over possible laterality effects some of the conflicting results of earlier studies were reconciled. The three subsequent experiments, II, III and IV, are concerned with the recall of verbally shadowed inputs. A highly significant and consistent effect of ear of arrival upon the serial position of items recalled is reported. Experiment V is directed towards an analysis of the effect that the processing of unattended inputs has upon the serial position of attended items that are recalled. A significant effect of the type of unattended material upon the recall of attended items was found to be influenced by the ear of arrival of inputs. In Experiment VI, differences between the two ears as attended and unattended input channels were clarified. Two main conclusions were drawn from this work. First, that the dichotic shadowing technique cannot control attention. Instead the task aprocessing both channels of dichotic inputs is unevenly shared bet\'reen the hemispheres as a function of the ear shadowed. Consequently, evidence for the processing of unattended information is considered in terms of constraints imposed by asymmetries in the functional organization of language, not in terms of a limited processing capacity model. The second conclusion to be drawn is that laterality differences can be effectively examined using the dichotic shadowing technique, a new model of laterality differences is proposed and discussed.

An optical study of human ocular dimensions

Many workers have studied the ocular components which occur in eyes exhibiting differing amounts of central refractive error but few have ever considered the additional information that could be derived from a study of peripheral refraction. Before now, peripheral refraction has either been measured in real eyes or has otherwise been modelled in schematic eyes of varying levels of sophistication. Several differences occur between measured and modelled results which, if accounted for, could give rise to more information regarding the nature of the optical and retinal surfaces and their asymmetries. Measurements of ocular components and peripheral refraction, however, have never been made in the same sample of eyes. In this study, ocular component and peripheral refractive measurements were made in a sample of young near-emmetropic, myopic and hyperopic eyes. The data for each refractive group was averaged. A computer program was written to construct spherical surfaced schematic eyes from this data. More sophisticated eye models were developed making use of linear algebraic ray tracing program. This method allowed rays to be traced through toroidal aspheric surfaces which were translated or rotated with respect to each other. For simplicity, the gradient index optical nature of the crystalline lens was neglected. Various alterations were made in these eye models to reproduce the measured peripheral refractive patterns. Excellent agreement was found between the modelled and measured peripheral refractive values over the central 70o of the visual field. This implied that the additional biometric features incorporated in each eye model were representative of those which were present in the measured eyes. As some of these features are not otherwise obtainable using in vivo techniques, it is proposed that the variation of refraction in the periphery offers a very useful optical method for studying human ocular component dimensions.

Bossnapping:situating repertoires of industrial action in national and global contexts

French industrial relations were shaken in the spring of 2009 by a series of labour struggles which featured the forcible detention of company managers and threats to commit major acts of sabotage. In this article I focus on the first of these two types of action, placing industrial sequestration in the context of the pattern of collective negotiation processes in France, and comparing it with previous cycles of the same phenomenon, particularly in the post-1968 period. I argue that the current cycle of sequestrations needs to be understood as a response to the deterritorialisation processes of neo-liberal globalisation, and is the product of asymmetries of power between the fixity of labour and the fluidity of global capital. I conclude by arguing that sequestration is a public melodrama of protest which might point to the development of a resistant politics of corporeality in France, in common with struggles in other social and economic sectors.

Endogenous ownership structure:factors affecting the post-privatisation equity in largest Hungarian firms

Using a data set for the 162 largest Hungarian firms during the period of 1994-1999, this paper explores the determinants of equity shares held by both foreign investors and Hungarian corporations. Evidence is found for a post-privatisation evolution towards more homogeneous equity structures, where dominant categories of Hungarian and foreign owners aim at achieving controlling stakes. In addition, focusing on firm-level characteristics we find that exporting firms attract foreign owners who acquire controlling equity stakes. Similarly, firm-size measurements are positively associated with the presence of foreign investors. However, they are negatively associated with 100% foreign ownership, possibly because the marginal costs of acquiring additional equity are growing with the size of the assets. The results are interpreted within the framework of the existing theory. In particular, following Demsetz and Lehn (1985) and Demsetz and Villalonga (2001) we argue that equity should not be treated as an exogenous variable. As for specific determinants of equity levels, we focus on informational asymmetries and (unobserved) ownership-specific characteristics of foreign investors and Hungarian investors.

Unraveling the role of forgiveness in family relationships

Testing the idea that the process of forgiveness is intrinsically different across diverse relationships, this study examined the role of forgiveness in different family relationships. In 2 laboratory sessions 1 year apart, 114 families (each including 2 parents and 1 child) completed a new measure of family forgiveness and many individual-level, relationship-level, and family-level variables that have been previously linked with forgiveness. After validating the measure of family forgiveness in cross-sectional analyses, investigators performed longitudinal analyses to examine the role of forgiveness in each family relationship over the 1-year interval. Results indicated many important positive consequences of forgiveness on individual traits, aspects of each family relationship, and general family environment. However, there were also important asymmetries in associates of forgiveness across parent-child and parent-parent relationships, demonstrating the relationship-bound nature of forgiveness.

Common variants in left/right asymmetry genes and pathways are associated with relative hand skill

Humans display structural and functional asymmetries in brain organization, strikingly with respect to language and handedness. The molecular basis of these asymmetries is unknown. We report a genome-wide association study meta-analysis for a quantitative measure of relative hand skill in individuals with dyslexia [reading disability (RD)] (n = 728). The most strongly associated variant, rs7182874 (P = 8.68×10-9), is located in PCSK6, further supporting an association we previously reported. We also confirmed the specificity of this association in individuals with RD; the same locus was not associated with relative hand skill in a general population cohort (n = 2,666). As PCSK6 is known to regulate NODAL in the development of left/right (LR) asymmetry in mice, we developed a novel approach to GWAS pathway analysis, using gene-set enrichment to test for an over-representation of highly associated variants within the orthologs of genes whose disruption in mice yields LR asymmetry phenotypes. Four out of 15 LR asymmetry phenotypes showed an over-representation (FDR≤5%). We replicated three of these phenotypes; situs inversus, heterotaxia, and double outlet right ventricle, in the general population cohort (FDR≤5%). Our findings lead us to propose that handedness is a polygenic trait controlled in part by the molecular mechanisms that establish LR body asymmetry early in development. © 2013 Brandler et al.

New York mark-ups on petroleum products

In this paper we analyse rigidities in the behaviour of the mark-up on regular, midgrade and premium varieties of petrol in the New York area using a set of weekly frequency data and a methodology that analyses the pricing process using deterministic and stochastic techniques. The results are consistent across methodologies and indicate that the speeds of adjustment to the long-run equilibrium mark-up differ across varieties of petrol with margins of the premium variety falling faster than they rise, contrary to the popular claim of welfare-decreasing asymmetries in price transmission. © 2012 The Authors. The Manchester School © 2012 Blackwell Publishing Ltd and The University of Manchester.

Diversifying into technical clothing manufacture as entrepreneurial learning:a situated learning theory perspective

Purpose - The purpose of this paper is to demonstrate analytically how entrepreneurial action as learning relating to diversifying into technical clothing - i.e. a high-value manufacturing sector - can take place. This is particularly relevant to recent discussion and debate in academic and policy-making circles concerning the survival of the clothing manufacture industry in developed industrialised countries. Design/methodology/approach - Using situated learning theory (SLT) as the major analytical lens, this case study examines an episode of entrepreneurial action relating to diversification into a high-value manufacturing sector. It is considered on instrumentality grounds, revealing wider tendencies in the management of knowledge and capabilities requisite for effective entrepreneurial action of this kind. Findings - Boundary events, brokers, boundary objects, membership structures and inclusive participation that addresses power asymmetries are found to be crucial organisational design elements, enabling the development of inter- and intracommunal capacities. These together constitute a dynamic learning capability, which underpins entrepreneurial action, such as diversification into high-value manufacturing sectors. Originality/value - Through a refinement of SLT in the context of entrepreneurial action, the paper contributes to an advancement of a substantive theory of managing technological knowledge and capabilities for effective diversification into high-value manufacturing sectors. Copyright © 2014 Emerald Group Publishing Limited. All rights reserved.

Asymmetric price transmission in EU petroleum markets

This research investigates the determinants of asymmetric price transmission (APT) in European petroleum markets. APT is the faster response of retail prices to cost increases than to cost decreases; resulting in a welfare transfer from consumers to fuel retailers. I investigate APT at 3 different levels: the EU, the UK and at the Birmingham level. First, I examine the incidence of asymmetries in the retail markets of six major EU countries; significant asymmetries are found in all countries except from the UK. The market share data suggest that asymmetries are more important in more concentrated markets; this finding supports the collusion theory. I extend the investigation to 12 EU countries and note that APT is greater in diesel markets. The cross-country analysis suggests that vertical and horizontal concentration at least partly explains the degree of asymmetry. I provide evidence justifying scrutiny over retail markets’ pricing and structure. Second daily data unveil the presence of APT in the UK fuel markets. I use break tests to identify segments with different pricing regimes. Two main types of periods are identified: periods of rising oil price exhibit significant asymmetries whilst periods of recession do not. Our results suggest that oligopolistic coordination between retailers generate excess rents during periods of rising oil price whilst the coordination fails due to price wars when oil prices are going downwards. Finally I investigate the pricing behaviour of petroleum retailers in the Birmingham (UK) area for 2008. Whilst the market structure data reveals that the horizontal concentration is higher than the national UK average, I find no evidence of APT. In contrast, I find that retail prices are sticky upwards and downwards and that firms with market power (majors and supermarkets) adjust their prices slower than other firms.

The handedness-associated PCSK6 locus spans an intronic promoter regulating novel transcripts

We recently reported the association of the PCSK6 gene with handedness through a quantitative genome-wide association study (GWAS; P < 0.5 × 10(-8)) for a relative hand skill measure in individuals with dyslexia. PCSK6 activates Nodal, a morphogen involved in regulating left-right body axis determination. Therefore, the GWAS data suggest that the biology underlying the patterning of structural asymmetries may also contribute to behavioural laterality, e.g. handedness. The association is further supported by an independent study reporting a variable number tandem repeat (VNTR) within the same PCSK6 locus to be associated with degree of handedness in a general population cohort. Here, we have conducted a functional analysis of the PCSK6 locus combining further genetic analysis, in silico predictions and molecular assays. We have shown that the previous GWAS signal was not tagging a VNTR effect, suggesting that the two markers have independent effects. We demonstrated experimentally that one of the top GWAS-associated markers, rs11855145, directly alters the binding site for a nuclear factor. Furthermore, we have shown that the predicted regulatory region adjacent to rs11855415 acts as a bidirectional promoter controlling the expression of novel RNA transcripts. These include both an antisense long non-coding RNA (lncRNA) and a short PCSK6 isoform predicted to be coding. This is the first molecular characterization of a handedness-associated locus that supports the role of common variants in non-coding sequences in influencing complex phenotypes through gene expression regulation.

Aszimmetriák az Európai Unión belül (Assimetries within the European Union)

A centrum-periféria kapcsolatok elemzése az Európai Unióra is kiterjeszthető. Az integrációs folyamatban jól elemezhetőek a bourdeiu-i tőkeformák, ezek egymásra történő átváltása, a gazdasági és politikai aszimmetriák kölcsönhatása. E kölcsönös kapcsolatokban továbbra is a gazdasági viszonyok meghatározottsága érvényesül. A világgazdasági válság felszínre hozta a történelmi aszimmetriákat, amelyeket a korábbi neoliberális politikák tovább mélyítettek. Az Unión belüli periferális térségekre a válság különbözőképpen hatott. E hatások semlegesítésére többnyire a megszorító gazdaságpolitikákat alkalmazzák. Továbbra is hiányzik azonban egy, a minőségi s nem mennyiségi szempontokat hangsúlyozó fejlesztési politika. Egy ilyen megközelítés a strukturális, intézményi vonatkozásokat erősítené, s ezzel járulna hozzá a periféria termelési, forgalmi, elosztási képességeinek fokozásához. _____ Analysis of centre-periphery relations can be extended to the European Union as well. The capital forms by Bourdieu, their inter-changeability, mutual effects of economic and political asymmetries could be analysed well in the integration process. In these mutual relations economic relations still play the dominant role. The global economic crisis has brought to the surface historical asymmetries, further aggravated by earlier neo-liberal economic policies. Peripheral regions within the Union have been affected in different ways. In order to neutralise these effects austerity measure have been implemented. However, a development policy, emphasising quality and not only quantitative aspects, is still missing. Such an approach would strengthen structural and institutional elements, further enhancing production, trade, and distribution capabilities of the periphery.