Proposition 1 definition

Proposition 1 means City of SeaTac Proposition 1, codified at Ch. 7.45 SMC.
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Proposition 1. With quantity competition and uncertain firm specific cost or demand intercept, a firm unilaterally chooses to share information if and only if B ≤ δ2(8−δ2)/12. A firm’s profit is greater when both share information than when neither share if and only if B ≤ δ2(12−δ2)/3(4+δ2). Proof: From (1) and (2), firm a’s expected profit when they both do not share less its expected profit when only firm a shares, is increasing in B, and equals zero at B = δ2(8−δ2)/12. From (3) and (4), the same is true for firm a’s expected profit when only it does not share less its expected profit when they both share. For the second part, from (2) and (3), firm a’s expected profit when they both do not share less its expected profit when they both share, is increasing in B and equals at B = δ2(12−δ2)/3(4+δ2).// 14 There are two effects that arise from a firm sharing its information. On one hand, the union can exploit the information to the firm’s detriment. On the other hand, the information being shared with the rival creates a benefit. In the environment here, the gain from sharing is greater than the loss from the union learning, if the union is sufficiently weak or the products are sufficiently undifferentiated. It is interesting to contrast these results to those found in Li (2002) who assumes that the union has all of the pricing power and the products are perfect substitutes (equivalent to B = 1 and δ=1). In contrast to the result here, Xx (2002) finds that the firm’s dominant strategy is to share information and profits are greater if all firms share information. The difference arises because here the union sets different wages, while in Li (2002) a uniform price is considered.15 By setting a differential wage the extent to which the union can exploit the information is enhanced sufficiently to change the results found in Li. Comparison of the pricing power (B) needed for joint profits to increase from information sharing (δ2(12−δ2)/3(4+δ2)) to that needed for an individual firm to unilaterally share information (δ2(8−δ2)/12), reveals that there are levels of pricing power such that there is a prisoner’s dilemma. Interestingly, this only arises if the pricing power is more evenly divided.
Sample 1
Proposition 1 means AB 1471, (2014), as codified in California Water Codes section 79701 et seq.
Sample 1

Examples of Proposition 1 in a sentence

  • The State shall provide funding from the Water Quality, Supply, and Infrastructure Improvement Act of 2014 (Proposition 1) to the Grantee to assist in financing the projects, which are included in and implemented in an adopted Integrated Regional Water Management Plan (IRWM Plan), pursuant to Chapter 7.


More Definitions of Proposition 1

Proposition 1 or “Prop 1” means Assembly Bill 1471, Rendon.
Sample 1

Related to Proposition 1

  • Ballot proposition means a question, issue, or proposal that is submitted to voters

  • Phase 1 means the phase of the ATP comprised of: (1) improvements to the State Street Substation; (2) construction of the Proposed Line; (3) the rebuilding of NYSEG’s existing Lines 971 and 000 xxxxx xx Xxxxxxxx Xxxx xx the NYSEG ROW to allow for construction of the Proposed Line as intended; (4) improvements to the Elbridge Substation to accept the Proposed Line; and (5) National Grid’s conveyance to NYSEG of the NYSEG Acquired ROW and such other land interests as contemplated by the Purchase and Sale Agreement.

  • Mitigation Study Period means the duration of time extending six consecutive Capability Periods and beginning with the Starting Capability Period associated with a Class Year Study, Additional SDU Study, and/or Expedited Deliverability Study. For purposes of Section 23.4.5 of this Attachment H, “Mitigated UCAP” shall mean one or more megawatts of Unforced Capacity that are subject to Control by a Market Party that has been identified by the ISO as a Pivotal Supplier. For purposes of Section 23.4.5 of this Attachment H, “Mitigation Net CONE” shall mean the capacity price on the currently effective ICAP Demand Curve for the Mitigated Capacity Zone corresponding to the average amount of excess capacity above the Mitigated Capacity Zone Installed Capacity requirement, expressed as a percentage of that requirement, that formed the basis for the ICAP Demand Curve approved by the Commission.

  • Phase I means the first part of the tuition incentive assistance program defined as the academic period of 80 semester or 120 term credits, or less, leading to an associate degree or certificate.

  • Phase 2 means the phase of the ATP comprised of: (1) improvements to the State Street Substation to receive Rebuilt Line 972; (2) the rebuilding of NYSEG’s existing Line 972 not performed in Phase 1; (3) construction of Relocated Line 15; (4) the construction of Bused Line 5; (5) improvements to the Elbridge Substation to receive Relocated Line 15; and (6) improvements to the Elbridge Substation to receive Bused Line 5.

  • Waste Framework Directive or “WFD” means Waste Framework Directive 2008/98/EC of the European Parliament and of the Council on waste.

  • Completion Deadline means June 15, 2020 or such later date as may be mutually agreed by the Parties in writing.

  • conformity assessment means the process demonstrating whether the requirements of this Regulation relating to a device have been fulfilled;

  • Phase II means the second part of the tuition incentive assistance program which provides assistance in the third and fourth year of 4-year degree programs.

  • Project Proposal has the meaning set forth in Section 2.2(b).

  • Proposal means the Technical Proposal and the Financial Proposal of the Consultant.

  • Study means the investigation to be conducted in accordance with the Protocol.