College essay topics to write about Herfindahl-Hirschman Index - Free Essay Example

Sample details Pages: 4 Words: 1097 Downloads: 6 Date added: 2017/06/26 Category Economics Essay Type Analytical essay Did you like this example? Question: The Herfindahl Index coefficient and Gini coefficient are tools used in the analysis of industry concentration. Giving examples, assess their respective contribution to our understanding of industry structure. A numerical approach to understanding economic structures has been the basis for the development of the Herfindahl-Hirschman Index and Gini coefficient. The concentration and industry structure are easily conceivable from a combination of these two indexes. Don’t waste time! Our writers will create an original "College essay topics to write about Herfindahl-Hirschman Index" essay for you Create order The Herfindahl-Hirschman Index measures the size of the top 50 firms in the industry relative to the market. This comparison is in the form of a sum of the squares of their market shares. The primary basis behind the index is to understand the existing market structure based on the relative market shares of the top 50 (or all, if less than 50) firms. The coefficient will tend to be very high in case there is an oligopolistic market structure in which a small proportion of the firms will be holding large market shares. However, if the market is such that the top 50 firms have small and roughly equal market shares, the coefficient will be very low. The difference between the two market structures is easily understandable by looking at the value of the coefficient. An oligopolistic market will generally have an H-H index of above 1800. This would mean that the market is concentrated and the top 50 firms have a significant majority share of the market. An industry with an H-H index of between 1,000 and 1,800 is assumed to be moderately concentrated i.e. there is a fair degree of distribution of market share with a few firms standing out slightly above the others. A market with just one firm serving the entire market (monopoly) will have an index value of 10,000. The minimum index value is of course close to zero assuming a perfect competitive market. The differences in these index values explain a lot about the industry and are often used to estimate the division of wealth between firms. The Herfindahl-Hirschman Index of the automobile industry in the U.S. is in between 1,800 and 10,000. This is because of the fact that the industry has a lot of large players with significant market shares. However, the use of the Gini coefficient is more pertinent in measuring the distribution of wealth between firms in an industry. The division of the US automobile industry is also supported by the Gini coefficient. Intuitively, the Gini coefficient is a measure of the r elative dispersion of wealth in an industry. It measures the level of inequality of distribution of wealth in an industry. A Gini coefficient of 0 signifies perfect equality of wealth meaning that all firms in the industry have equal wealth. However, a perfect inequality of wealth is denoted by a Gini coefficient of 1. While theoretically it is impossible to have industries with Ginis of 0 and 1, the extent to which they are close to either of these benchmarks denotes the concentration of the industry. The US automobile sector has a Gini well above 0.5 denoting that the industry is concentrated and there is significant inequality of wealth amassed by the automobile firms. The combinatory use of the two indexes gives a clearer picture of the degree to which different firms have a share of the market and the extent of income equality (or inequality) relative to a perfect equality of wealth distribution. Question: In the market for air travel, why might a high degree of price discrimination lead to an improvement in both allocative and technical efficiency, and yet a reduction in consumer surplus? A high degree of price discrimination in the airline industry results in an increase in the producer surplus. This is because of the fact that a producer is able to capitalize on the prices that the consumer is willing to pay instead of the equilibrium price for the market lying above the equilibrium. is price methodology would raise allocative efficiency because the airlines will be using the appropriate consumption bundle on the consumers indifference curve. This would lead to maximizing utility in terms of each individual using the airlines service; Instead of maximizing output for the airline, it would mean reaching the optimum production level. The phenomenon of discriminatory pricing is also known as labelled as perfect price discrimination because of the fact that it matches a perfect competition market also completely. The optimum quantity for the airline would form the isoquant line while the budget line for the production would be denoted by the isocost line. The pr ice discrimination strategy would mean that the budget line would meet the optimum production quantity i.e. the isocost would equal the isoquant. This would denote the optimum quantity which would however reduce the consumer surplus instead of raising it. This phenomenon can be explained by the fact that the supply curve in this strategy would change for each consumer. The supply curve will be higher or lower for each consumer depending on the price discrimination level; they would be matching the customers characteristics. Thus, this would result in an increase in the producer surplus at the expense of the consumer surplus. While the total surplus would remain unchanged, a portion of the consumer surplus would be converted to the producer surplus. This is the basic reason for a decrease in the consumer surplus even though technical and allocative efficiency may be rising. The technical efficiency would rise because of the price discrimination strategy: the output of the airli ne would increase even though the inputs would remain the same. This increase in technical efficiency is complemented by allocative efficiency. The rise in allocative efficiency can be explained by the fact that the consumers measure of the utility of the airlines service would increase. The price discrimination strategy would enable the airline to charge different prices to each consumer based on their utility. Since the prices would be matching the utility of the customer, the net utility derived from producing the optimum quantity (where isocost would equal isoquants). The following graph displays this phenomenon: Thus, it is possible for an airline to improve allocative and technical efficiency using a price discrimination strategy and at the same time experience decreasing consumer surplus. Bibliography Cleaver T, 2004, Economics: The Basics, Routledge. Brittanica, 1994, Isocosts and Isoquants, Accessed May 16, 2010 from: https://media-2.web.britannica.com/eb-media/42/142-004-2E61196E.gif Jones, Chris, 2009, Financial economics. London: Routledge. Just, R.; Hueth, D. Schmitz, A. 2002, Applied Welfare Economics and Public Policy, Prentice Hall. Krugman P, 2000, The return of depression Economics, W. W. Norton and Company. Mankiw N.G., 2010, Macroeconomics, Palgrave Macmillan. Riddell, Tom Shackelford, Jean A., 2007, Economics: a tool for critically understanding society, Addison Wesely.

Henderson-Hasselbalch Equation and Example

You can calculate the pH of a buffer solution or the concentration of the acid and base using the Henderson-Hasselbalch equation. Heres a look at the Henderson-Hasselbalch equation and a worked example that explains how to apply the equation. Henderson-Hasselbalch Equation The Henderson-Hasselbalch equation relates pH, pKa, and molar concentration (concentration in units of moles per liter): apH pK log ([A-]/[HA]) [A-] molar concentration of a conjugate base [HA] molar concentration of an undissociated weak acid (M) The equation can be rewritten to solve for pOH: pOH pKb log ([HB]/[ B ]) [HB] molar concentration of the conjugate base (M) [ B ] molar concentration of a weak base (M) Example Problem Applying the Henderson-Hasselbalch Equation Calculate the pH of a buffer solution made from 0.20 M HC2H3O2 and 0.50 M C2H3O2- that has an acid dissociation constant for HC2H3O2 of 1.8 x 10-5. Solve this problem by plugging the values into the Henderson-Hasselbalch equation for a weak acid and its conjugate base. pH pKa log ([A-]/[HA]) pH pKa log ([C2H3O2-] / [HC2H3O2]) pH -log (1.8 x 10-5) log (0.50 M / 0.20 M) pH -log (1.8 x 10-5) log (2.5) pH 4.7 0.40 pH 5.1

Analysis of Music´s Deadly Influence by CWA (Concerned...

The CWA (or Concerned Women for America) released an article named Musics Deadly Influence in August 3, 1999. The article was released when the music industry would be at a peak in its involvement within society. The TV had channels for music, CD players and various walkmans were top selling, and music could be acquired anywhere including the internet. The intention of this article was to serve as a general warning to parents and various other authority figures about the music industry and its effect on youth. The article was released under the CWA, which is an organization founded on action and prayer by Beverly LaHaye, and possesses a reputation in primarily right-wing views in the news and in political issues . This article fails†¦show more content†¦values are used to extend the problem according to cultural critic Stan Cohen . This creates the false fear that the article creates. Other deterrents such as the title of the article are present, Musics Deadly influence, thi s creates a negative and fearsome light for the issue before the consumer has even read it. The issue does not halt at music according to the article, which makes the article broaden its scope. It implicates the media in a very negative connotation, stating that visual media is in the mix of this deadly influence, and creates a cause-and-effect relationship between media violence and real-life violence . This factor contributes to the encompassing nature that the article brings to the problem in the CWAs article. Throughout the article there are the previously mentioned highlights of the document, and the highlights include assumptions made about the connection of youth to violence, and the connections disregarded in order to strengthen their claims. Some of the points include a fact from a Dr. Joseph Steussy, who is a credited professor of music history, who confirm[ed] that music affects behavior, psychologically and physiologically . This is a general statement, which is a fact , but misused in its context and certain other factors are overlooked. Music is a type of stimulus, which does affect youth. However comparing music andShow MoreRelated Musical Influence on a Violent Society Essay2671 Words   |  11 PagesMusical Influence on a Violent Society The event in Littleton, Colorado, 5 years ago was a shocking wake up call to our society. Because of Eric Harris and Dylan Klebold’s fanaticism with artists such as Marilyn Manson, music was labeled as the culprit for negatively influencing the youth of America. Music is a tool of expression that an artist uses to vent their frustrations and to reveal their emotions. However, these artists do not see the moral boundary that they have crossed with their

Book 1984 Analysis Conspiracies in the US, John F. Kennedy

A conspiracy is a â€Å"secret plan by a group to do something unlawful or harmful† (Conspiracy.). One of the most conspiracy filled events in history just happens to be the John F. Kennedy assassination. Some ideas are way out there, but others sound like they might have at least a hint of truth in them. The book 1984, relates to a few of these schemes of how and such an event would happen, but even more importantly how it was covered up. In the book they were masterminds at covering up events and it is now my job to figure out how this book is similar to the JFK assassinations. To understand these conspiracies, one must know the events that happened on this fateful day. John Fitzgerald Kennedy, who was our thirty fifth†¦show more content†¦Another interesting conspiracy is that the mob was involved in the whole assassination. To be more specific it is widely thought to be Carlos Marcello who was the head of the Cuban mafia. It is said that the mafia was mad at John and Robert Kennedy for their effort to wipe out organized crime. It is said that a few CIA agents had taken part in the conspiracy. (Whether Its CIA, Mafia, LBJ or Even Aliens, JFK Assassination Conspiracy Theories Never Die.) This is a little farfetched as far as how little evidence there is to prove this true. Regardless this would explain why Jack Ruby shot Oswald as to tie up loose ends. Numerous mobsters have â€Å"confessed† to being part of the JFK assassination all from different mafia’s ( Whether Its CIA, Mafia, LBJ or Even Aliens, JFK Assassination Conspiracy Theories Never Die.). Even though it is highly unlikely there is still a possibility that there might be truth in this. The last and most important conspiracy to discuss is the idea that Lyndon B. Johnson (Kennedy’s Vice President) was behind the whole thing and planned it out in order to get the presidential seat. LBJ had the perfect opportunity in Texas which is his home state. 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Why People Choose A Specific Profession - 999 Words

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A Family Argument free essay sample

A Family Argument What was it about? Why did the argument start? When did it take place? Who were involved? Where did it happen? How was the problem solved? My family subscribes to the philosophy that family arguments, though unpleasant, are healthy and even necessary. Like my father says, they are like antibodies that fight virus in human body and eventually some good may result. My otherwise close knit family polarized by the fact that I have always been my fathers pet while my brother, Bernie, is mums pet. On one occasion, this gave rise to arguments but the differences were resolved eventually. I used to resent the fact that I had to help out with most of the household chores while Bernie got away with only some light task. Things came to a head after a family party when my mother and I went to wash up more than fifty dishes, while my brother decided to watch a late-night movie. We will write a custom essay sample on A Family Argument or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Seething with anger, I deliberately banged the dishes and pans while I washed them to create a racket to disrupt his enjoyment of the movie. Then, my brother stomped nto the kitchen, yelled at me and told me to keep it quiet. Hey! Why dont you show me how to wash all these without making a noise! I restored. Why should I? he asked without taking the bait. IVe already helped out during the party, serving everybody dinner while you were flirting with the boys! Anyway, it is a girls Job to do housework. He walked out of the kitchen triumphantly. His baseless allegations and sexist remarks riled me Just like he wanted. In my anger, I slammed the dishes even harder and stormed into the living room, switched off the TV and insisted that my brother apologized to me for making that rude statement. All this while, my mother kept reminding me that neighbors were sleeping. My father, who agreed with me that Bernie was rude, said that he should apologize. This was when Bernie went against my father and said that he always took my side. My father replied that the reason he did so was because Bernie had been spoiled by my mother. My mother lost her temper at being accused of incompetent parenting much that I was bold enough to be rude to my elder brother. The next thing we knew, everybody started yelling at the same time. My grandmother who was patiently observing all these from her room hit her walking stick on the iron grills to get out attention. Shame on all of you! Arguing children at this time of the night! Of course everybody is stressed out from the work we put into the party. This wouldnt have happened if all of you chipped in and cleaned up the house. She then delegate each of us a task in the kitchen, which proved that many hands made light work. Still Fuming with anger, we quietly retreated into the kitchen and carried out our assigned tasks. The comical part that as we worked together, the tension dissipated and by the end, it was Just too ridiculous to stay angry. We ended up laughing instead. The irony was that although Bernie had to swallow the bitter pill of being forced to do his share of housework, he soon discovered that he enjoyed it and my parents learnt to treat us as equals. Please consider what are the themes of this essay? Eg, Equality, Inequality, Conflict, Argument, Rage, Cooperation, Fairness, Discord, Anger, Predicament, Pride, Dignity, Change, Perseverance, Reward, Stubbornness. Amending the introduction: I have always wanted to change my brothers bad attitude. I have tried to talk to him and my parents many times but nothing changed. Nevertheless, I still persevered, hoping he would change. One fine day, my perseverance finally got its reward. My brother was very proud and stubborn and never helped in household chores. His pride was beyond description. However, one incident changed him drastically for good.

Cochlear Implants free essay sample

A definition of cochlear implants and the effect such implants have on childhood development. The paper defines a cochlear implant as a device which converts sound waves into electric signals and thus allows the hearing impaired to hear at a greater level than a hearing aid provides. The paper discusses the effects that cochlear implants have on childhood development, focusing on children from one to four years of age. The paper explores the issues of speech recognition/language, academic concerns, social ramifications and family relationships. The University of Michigan performed the largest study ever on Cochlear implants and released the findings in January of last year. Researchers found that children who are implanted with cochlears before the age of four are able to achieve high levels of speech recognition and language skills. Dr. Paul Kileny establishes that research shows a significant difference in speech recognition between those who got their implants between the ages of 2 and 4 years, during the critical language development period, and those who received them later. We will write a custom essay sample on Cochlear Implants or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page He concluded that people who receive the implant early in life get the greatest benefits.