Summary of Switching Results Sample Clauses

Summary of Switching Results. Controlling for the complexity of the relationship and the level of information about the existing supplier, we estimate that the threshold for switching costs is significantly lower for firms that can rely on courts. Firms that cannot rely on the courts to enforce contracts are willing to pay higher costs to maintain relationships with existing suppliers. The effect of courts is much larger and more significant when the supply relationship involves specialized inputs. As Xxxxxxxxx (1987, 1995) and others have shown, higher switching costs can lead to collusive price levels even in competitive markets. Switching costs may also result in barriers to entry, as new firms have a difficult time attracting customers, and more productive firms gain market share more slowly. The development of legal systems leads to efficiency gains in the economy beyond those represented by the effects courts have on sustaining cooperation in existing relationships. Relational contracting, then, has ambiguous effects. Ongoing relationships can improve efficiency by supporting deals that the legal system is unable to enforce. But exclusion is the 33 There are 375 firms with two domestic, private suppliers. But only 48 of these would reject the offer for one of their suppliers but not the other. As a result, the dependent variable in the fixed effect (difference) regression has little variation. We therefore interpret the fixed effect results with some caution. They show, however, significant positive coefficients for having no alternative suppliers and visits before the first transaction. The fixed effects regression also produces positive coefficients for each corollary of ongoing relationships. Continuing to deal with a particular supplier means being reluctant to deal with new suppliers. If firms routinely reject lower-priced deals, low-cost producers will find it difficult to get new customers and high-cost producers will not be driven out. Where networks govern interfirm relationships, the rewards to low cost suppliers will be smaller. In a primitive economy, customers are stuck with their suppliers because of quality uncertainty; in a sophisticated economy, trading partners might be locked in by specific assets.
Sample 1
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Related to Summary of Switching Results

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In this circumstance, the Partnership recognizes an impairment loss for the amount by which the carrying amount of the asset exceeds the estimated fair value of the asset. Use of estimates in the preparation of financial statements -- Preparation of the accompanying financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reporting amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Net income (loss) per limited partnership interest -- The net income (loss) per limited partnership interest is calculated by using the number of outstanding limited partnership interests. 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The method of allocation has been consistent over the past several years with certain modifications incorporated to reflect changes in Pioneer USA's overall business activities. Reclassifications -- Certain reclassifications may have been made to the 1997 and 1996 financial statements to conform to the 1998 financial statement presentations. Environmental -- The Partnership is subject to extensive federal, state and local environmental laws and regulations. These laws, which are constantly changing, regulate the discharge of materials into the environment and may require the Partnership to remove or mitigate the environmental effects of the disposal or release of petroleum or chemical substances at various sites. Environmental expenditures are expensed or capitalized depending on their future economic benefit. Expenditures that relate to an existing condition caused by past operations and that have no future economic benefits are expensed. Liabilities for expenditures of a noncapital nature are recorded when environmental assessment and/or remediation is probable, and the costs can be reasonably estimated. Such liabilities are generally undiscounted unless the timing of cash payments for the liability or component are fixed or reliably determinable. No such liabilities have been accrued as of December 31, 1998. Revenue recognition -- The Partnership uses the entitlements method of accounting for crude oil and natural gas revenues. Reporting comprehensive income -- Statement of Financial Accounting Standards No. 130, "Reporting Comprehensive Income" ("SFAS No. 130") establishes standards for the reporting and display of comprehensive income (loss) and its components in a full set of general purpose financial statements. Comprehensive income (loss) includes net income (loss) and other comprehensive income (loss). The Partnership has no items of other comprehensive income (loss), as defined by SFAS No. 130. 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  • Switching System Hierarchy and Trunking Requirements For purposes of routing ECI traffic to Verizon, the subtending arrangements between Verizon Tandem Switches and Verizon End Office Switches shall be the same as the Tandem/End Office subtending arrangements Verizon maintains for the routing of its own or other carriers’ traffic (i.e., traffic will be routed to the appropriate Verizon Tandem subtended by the terminating End Office serving the Verizon Customer). For purposes of routing Verizon traffic to ECI, the subtending arrangements between ECI Tandem Switches and ECI End Office Switches shall be the same as the Tandem/End Office subtending arrangements that ECI maintains for the routing of its own or other carriers’ traffic.

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  • Detailed Description of Services / Statement of Work Describe fully the services that Contractor will provide, or add and attach Exhibit B to this Agreement.

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