Proposition 3 definition

Proposition 3. With banks’ effort, when
Sample 1
Proposition 3. With quantity competition and uncertain cost or demand specific intercept, welfare is greater when both firms share if and only if B < δ2(20 − 3δ2)/(20 + δ2). Inspection of proposition 3 shows that there does not exist δ such that when the union has all of the pricing power (B=1), welfare increases with information sharing: for δ∈(-1,1), δ2(20 − 3δ2)/(20 + δ2) is increasing in δ, and at δ=1, δ2(20 − 3δ2)/(20 + δ2) = 17/21. The intuition is that the information leads the union to induce output changes that are in the opposite direction of what would increase welfare. A lower cost firm receives a higher wage and so produces less, while a higher cost firm receives a lower wage inducing it to produce more. On the other hand, when the union has relatively little pricing power, welfare increases from information sharing because of the interaction between the firms. Thus, as δ decreases (so that the interaction between the firms decreases) information sharing is less likely to raise welfare. That welfare decreases with information sharing when the union has the pricing power is the opposite of what is found in Li (2002), pointing to the effect of differential wages. Worse, comparing proposition 2 and 3 shows that the critical threshold in pricing power for producer surplus to increase is always greater than that for welfare. Thus, Corollary: With quantity competition and uncertain cost or demand specific intercept, for all δ∈(0,1), there exists a pricing power B such that the union can profitably induce the firms to share, but welfare decreases.
Sample 1
Proposition 3. For any given k N , the smaller kS the higher c N .
Sample 1

Examples of Proposition 3 in a sentence

  • Following Proposition 3, an individual who faces the trust problem, will select one of the three strategies (CC), (CD) or (DD), if we assume r≥w.

  • This analysis is shown in the following proposition Proposition 3 Information sharing VAs induce a decrease of consumer surplus if the co- variance is negative.

  • Thus, women are more likely to be pivotal in the household decision (see Proposition 3), which means that subsidies directed to women are more effective.

  • Upon obtaining requisite approvals from any participating lenders, the Borrowers agree to execute and deliver a replacement to the Replacement Revolving Note, which note shall have a maturity date of October 31, 1999, and upon delivery of such note to the Bank, all references in the Credit Agreement to the termination date or maturity date of the Revolving Note shall thereafter be deemed to refer to October 31, 1999.

  • Then, if k players are free riders and n – k myopic or cooperative, the following result holds: Proposition 3: If k players are free riders and n – k are myopic or cooperative, at the equilibrium the agreement structure is formed by k singletons, which form first, followed by the signature by n – k players of the unique agreement.

  • Wright (2001) provides a characterization result similar to propositions 1 and 2 for a class of linear production models (AK models) with limited enforcement.13 Proposition 3 is an analytical result and shows that, for a special case of the general model, age and insurance are positively correlated in equilibrium.

  • We analyze the subgame starting in period t under the assumption that behavior until date t − 1 is as in the steady-state equilibrium specified in Proposition 3.

  • From Proposition 3, any optimal policy µ must be an LO-ρ policy with ρ = ρ∗ = h(r(µ(ρ∗)), g(µ(ρ∗))) = h˜(ρ∗).

  • Proposition 3 tells us that any optimal policy must satisfy the LO-ρ conditions for ρ = ρ∗.

  • Since r is in ∆N , r is equal to H(π), the desired property.Proof of Proposition 3.


More Definitions of Proposition 3

Proposition 3. In the bargaining equilibrium, for any given k N , c N is decreasing in k S .
Sample 1
Proposition 3. An increase in the size of the northern region reduces the stability of the market sharing agreement.
Sample 1
Proposition 3. Shall Section 2 of Article II of the Charter be amended to clarify that the City’s authority to protect the health, safety, and welfare of the public shall be consistent with the laws and constitution of the United States as well as the State of Texas?
Sample 1

Related to Proposition 3

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

  • 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.

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

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

  • 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.

  • 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.

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

  • Phase III Study means a human clinical trial that is prospectively designed to demonstrate statistically whether a product is safe and effective for use in humans in a manner sufficient to obtain regulatory approval to market such product in patients having the disease or condition being studied as described in 21 C.F.R. § 312.21(c) (FDCA), as amended from time to time, and the foreign equivalent thereof.

  • Phase III Clinical Trials means a Clinical Trial for the Product on sufficient numbers of patients to generate safety and efficacy data to support Regulatory Approval in the proposed therapeutic indication, conducted in accordance with current good clinical practices and in accordance with a protocol that has been reviewed by the FDA and reflects any comments or concerns raised by the same.

  • Phase III means human clinical trials, the principal purpose of which is to establish substantial evidence of both safety and efficacy in patients with the disease or condition being studied, as more fully defined in 21 C.F.R. §312.21(c) or similar clinical study in a country other than the United States. Phase III shall also include any other human clinical trial intended to serve as a pivotal trial to support the submission of an application for regulatory approval.

  • Study Completion means the database for the Study has been locked and all Essential Documents have been provided to the Sponsor, including a copy of the letter from the Reviewing HREC acknowledging receipt of the final report and/or closure letter from the Principal Investigator.

  • Phase I Clinical Trial means a human clinical trial that is intended to initially evaluate the safety and/or pharmacological effect of a Product in subjects or that would otherwise satisfy requirements of 21 C.F.R. 312.21(a), or its foreign equivalent.

  • Phase II Study means a study in humans of the safety, dose ranging or efficacy of a product, as further defined in 21 C.F.R. § 312.21(b) (or the equivalent thereof outside the United States).

  • Phase 3 Clinical Trial means a pivotal clinical trial in humans performed to gain evidence with statistical significance of the efficacy of a product in a target population, and to obtain expanded evidence of safety for such product that is needed to evaluate the overall benefit-risk relationship of such product, to form the basis for approval of an NDA and to provide an adequate basis for physician labeling, as described in 21 C.F.R. § 312.21(c) or the corresponding regulation in jurisdictions other than the United States.

  • ESA means the European Space Agency.

  • 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.

  • Studies means activities needed to prepare project implementation, such as preparatory, mapping, feasibility, evaluation, testing and validation studies, including in the form of software, and any other technical support measure, including prior action to define and develop a project and decide on its financing, such as reconnaissance of the sites concerned and preparation of the financial package;

  • Treatability study means a study in which a hazardous waste is subjected to a treatment process to determine: (1) Whether the waste is amenable to the treatment process, (2) what pretreatment (if any) is required, (3) the optimal process conditions needed to achieve the desired treatment, (4) the efficiency of a treatment process for a specific waste or wastes, or (5) the characteristics and volumes of residuals from a particular treatment process. Also included in this definition for the purpose of the § 261.4 (e) and (f) exemptions are liner compatibility, corrosion, and other material compatibility studies and toxicological and health effects studies. A “treatability study” is not a means to commercially treat or dispose of hazardous waste.

  • Phase 2 Clinical Trial means a human clinical trial of a product in any country that would satisfy the requirements of 21 C.F.R. 312.21(b) and is intended to explore a variety of doses, dose response, and duration of effect, and to generate initial evidence of clinical safety and activity in a target patient population, or a similar clinical study prescribed by the relevant Regulatory Authorities in a country other than the United States.

  • Project Proponent means the individual or organization that has overall control and responsibility for the Project, or an individual or organization that together with others, each of which is also a Project Proponent, has overall control or responsibility for the Project. The entity(s) that can demonstrate Project Ownership in respect of the Project. For the avoidance of doubt where an individual executes this Representation in their capacity as an authorized office holder of the company who is the Project Proponent, this Representation is made by the company, not the authorized office holder;

  • Price Proposal means the price offer included in the Proposal submitted by a Proposer as set forth on the forms requested in Exhibit C-2 of the ITP.

  • Completion Deadline means the date by which the Arrangement is to be completed, which date shall be April 30, 2014 or such later date as may be agreed to in writing by the Parties;

  • Corrective Measure means a measure as defined in Article 3, point 16, of Regulation (EU) 2019/1020;

  • Phase II Clinical Trial means a study in humans of the safety, dose ranging and efficacy of a product, which is prospectively designed to generate sufficient data (if successful) to commence a Phase III Clinical Trial or to file for accelerated approval, or otherwise consistent with the requirements of U.S. 21 C.F.R. §312.21(b) or its foreign equivalents.

  • Phase I Study means a human clinical trial in any country that would satisfy the requirements of 21 C.F.R. § 312.21(a) (FDCA), as amended from time to time, and the foreign equivalent thereof.

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