Sylvia Plath vs Ted Hughes

Sylvia Plath’s poem, ‘Whiteness I Remember’, and Ted Hughes’s poem, ‘Sam’, are two poems which describe an experience of Plath’s when she was a student at Cambridge. She was out on her first ride when the horse she had hired the normally-placid Sam, bolted. Although Ted Hughes’s is describing the experience he uses insinuations throughout the poem to let out his perception of his marriage with Sylvia Plath, hence infuriating, the conflict in perspective between the two poems. The ideas of ‘conflicting perspective’ suggest that the composers of the texts present an even-handed, unbiased attitude to the events, personalities or situations represented. Conflicting perspectives explore the subjective truth of the individual, which are shaped by the construction of a text by a biased composer. Each person’s version of the truth in events, personalities and situations differs, by viewing separate perspectives an understanding of the motives and purpose of the composer is formed. Sam’ is Hughes retrospective interpretation of an event in Plath’s life before she met him and which she had represented in the poem ‘Whiteness I remember’. Hughes’ poem itself contains what can be interpreted as conflicting perspectives of her personality and when read in conjunction with Whiteness I remember reveals interesting similarities and differences. Hughes seems to accept Plath’s account of the event ‘I can liv e Your incredulity, your certainty that this was it’ and he does adhere closely to her description of her experiences during the horse’s headlong flight to the stable. However, the repetition of ‘You lost your stirrups’, ‘You lost your reins, you lost your seat’, combine to depict Plath as a terrified victim unable to control or take responsibility for the consequences of her own actions. In contrast Plath’s poem suggests she was exhilarated by the speed and danger and identified with what she represents as the horses’ rebellion against the ‘humdrum’ of suburbia. In contrast Hughes accuses her of glamorising her loss of control. ‘It was grab his neck and adore him or free fall’. Once again the reader is arguably left with the impression that Hughes is still identifying with Sam and suggesting there are parallels between her relationship with him and the horse. As the stanza continues Hughes builds the momentum and pace with a series of commas as punctuation and an enjambment. The choice of verb in ‘You slewed under his neck, an upside down jockey with nothing between you and the cataract of macadam’ creates an image of Plath unable to maintain a balance and in imminent danger of being smashed into the road by the horses hooves at high speed. The alliteration and the metaphor of the ‘horribly hard swift river’ in full flood combine with the’ propeller terror of his front legs’ and the onomatopoeia of ‘clangour of the iron shoes’ to transform the horse into an engine of destruction.

Relational Database Model Example

Relational Database Model Example Relational Database Model – Coursework Example Relational Database Model Insert Insert Introduction A business function relates to operations that run in an organization on a daily basis. They are innate in the entire mission that drives the firm (Inmon, ONeil & Fryman, 2008). The rules in the business are in place to control and define the framework of the functions that run in this institution. The firm mainly handles employees who register daily to work in the business and receive their wages at the end of the day. The company tracks the employee, the number of hours they have worked and use that to ascertain how much to pay the employee. Based on this information, the firm has three entities namely employee, wages and job.Figure 1: Entity Relationship DiagramThe key fields for the entities in the database include employee_id, wages_id, and job_id. The fields are unique thus all the other attributes in the tables are dependent on them. They do not allow null or duplicate values.The relationships in the entities show a one-to-m any relationship between employee and job entities. There is also a one-to-many relationship between employee and wages table. Further, there is a one-to-one relationship between the wages and job table. The latter is true because one job can only have one payment specified for it. On the other hand, one employee can have many jobs and consequently have many wages.The business rules in the organization clearly state that an employee can only be given another job after completing the previous one. The above rule only applies to employees whose consistency last more than one year at the firm (Halpin & Morgan, 2008). The relationship may change when a firm decides that there will be only one job for one employee. The cause may be an increase in the population of workers and urgency to complete the duties within the stipulated time.ReferencesHalpin, T., & Morgan, T. (2008). Information modeling and relational databases. Burlington, MA: Morgan Kaufmann Publishers.Inmon, W., ONeil, B., & Fryman, L. (2008). Business metadata. Amsterdam: Elsevier/Morgan Kaufmann.

IPO analysis Case Study Example | Topics and Well Written Essays - 1250 words

IPO analysis - Case Study Example This technique, OpenIPO , was an invention aimed at making pricing and allocation of the IPO share a transparent and an easy-to-do process for the issuers and to do away with any possible conflicts of interests, as may arise, between the sponsors and issuers as had been the predominant case with the former/ traditional IPO. In addition, this company (W.R Hambrecht Company) also provides an option of the traditional technique, as may be the preference of the intended users who wish not use the new online initiatives. Other services such as the venture capital, M&A, market making, proprietary investments, financing of the private placements, and online brokerage businesses, are the traditional services that this institution still provide to ensure undoubted satisfaction levels of its clients. As if this is not enough, W.R Hambrecht Company further supports approximately 36 companies to attain their IPO via their new application (the online auction system) i.e., the Overstock.com and Go ogle.Inc, and other 15 companies to use the traditional style. Strategic considerations for entrepreneurs to evaluate while determining on whether to use Dutch auction or traditional IPO approach to taking a company public W.R Hambrecht Company recommends prior consultations and advisory services, as a method of strategic approach for entrepreneurs to effectively use while making business decisions on whether to use either the traditional IPO or the Dutch auction/OpenIPO. Such decisions have to be made under the premeditated considerations of; their institutions’ goals, pricing, shares allocations, and risks and returns that are linked to any of the options that a company would centralize on. For instance, both OpenIPO and traditional techniques present very different means of allocating their shares. A sponsor has higher priorities in making decisions that promptly determine the amount of shares that can be allocated to whomever suit their recommendations, an authority that is vulnerable to abuse, in the traditional IPO. This has the potential of impacting negatively in case a stock is mispriced. A substantial case is when a sponsor decides to allocate the available shares to individual accounts of business supervisory in other institutions of their business interest, a situation that is efficiently avoidable in the case of Dutch auction/ OpenIPO. OpenIPO does its allocation without malicious considerations such as personal interests in shares allocation. Thus, is guarantees fairness (no spinning) and only allocate shares to bid winners, i.e., those who placed their bids based on the price or higher factors. The second benefit of using the OpenIPO is that it guarantees an open platform for all irrespective of whether an investor is a larger institution or small enterprises, as had been the trend with the traditional IPO shares allocation. Characteristics of the OpenIPO that makes it to override the traditional IPO is that it allows limited incentives f or the small investor to purchase shares based on the underwriters’ quoted prices (which are lower), and quickly sell them off to gain a bigger profit margin. A second factor that OpenIPO will help to eliminate will be the possibility of investors to bid too low by ensuring that those who overbid and underbid are sold for the shares at equal prices. This second advantage would help the issuers to earn more, money they would have not realized while using the traditional I

Essay Example | Topics and Well Written Essays - 250 words - 73

Essay Example Throughout my time at Sadiq public school, I participated in all national Pakistani bilingual debates. I won an award for being the second best English debater nationally and later on I was elected as president of the debating society. After my school life in Pakistan, I came to England to pursue higher education. For my first year I studied at the University of Bedfordshire; I transferred to the University of Hull for my second year and completed my undergraduate study with a BA (Hons) in business and management. While I was studying, I have gained much work experience at a shipping company, Pakistan International Container Terminal. I received an internship and worked there over the summer ofth to August 17th 2011. In the summer of 2012, I did another internship, but this time at Premier Mercantile ServicesJune 16th to Aug 18th.. This internship entailed business development and management. During my university life in Britain, I have represented my university for squash in competi ng with other universities and also acted as the president of the squash society. university for squash competition, competing with other universities. The reason I chose to study MSC Management and Entrepreneurship was to understand strategic marketing management and entrepreneurship. I also studied global entrepreneurship. The reason why I wanted to study this course was because I have connections with many family businesses back in Pakistan that are related to shipping, logistics, and agriculture. For the future, I am looking to expand my family’s logistic company to Dubai. In terms of the agricultural business, I am looking at selling organic milk in Pakistan. Also, I want to manufacture cheese and export to countries in Europe and in the Gulf. My family businesses are currently supplying cow meat to Gulf countries, but I am looking to export on a larger

Why has it become necessary to ask moral (ethical) questions in the Essay

Why has it become necessary to ask moral (ethical) questions in the present global economic conditions - Essay Example This is attributable to the fact that when making business decisions, managers have to take into account the views and beliefs on the working of the world and the social consequences of development, with particular significance in developing countries. Companies are not merely faced with issues about the morality of their actions and practices but also have to consider the impact of the actions on the reputation, legal exposures and competition amongst other aspects (Feigenbaum). Businesses are faced with moral quandaries from various levels of organizational decisions. The wage and labour conditions are critical factors in the economic growth of the company. Businesses that have maintained high standards of worker conditions and have paid the workers well are met with challenges in maintaining the same standards when they expand. For the long-term profitability of business ventures and continuing profitability, managers need to consider the impact of the business on the local workfo rce. Ethical issues may arise on the grounds of discrimination, rights of the workers and their tasks. Businesses are also starting to give more importance to the effects of their activities on the environment in particular reference to the pace and effects of economic globalization (Panayotou 2000). As public awareness rises and there is increasing pressure for social corporate responsibility, businesses who fail to comply with the standards for environmental sustainability are meeting grave consequences in national and international media. Business decisions also have political implications, with differing opinions amongst theorists on the effects of business on the political and economic framework of the country (Feigenbaum). This paper looks into the moral issues of a corporation and seeks to analyse them using moral frameworks including the social contract model and deontology. The Moral Problem: Enron Ethics is defined as the art of guiding the actions of men towards the produ ction of the maximum degree of happiness (Bentham 1823). People who run the business or an organization are responsible for conducting the business in a way that is yields the maximum benefits to not only the company but also the employees and the stakeholders. The ethical practices of Enron became a high-profile ethical scandal because the executives at the company did not give any regard to the interests of the employees and the stakeholders. The unethical practices of the executives of the company led to the company going bankrupt, with all of the shareholders losing their money and the employees being deprived of their jobs. Kenneth Lay, former Enron CEO, and Jeffery Skilling were involved in unethical activities that led to the fall of the entire company. The Executives were involved in manipulating the financial statements of the company (Collins 2006). Amongst other ethical issues, one issue also was whether it was ethical of the women, who took the case to the media, to whis tleblow on the Executives (Kinicki & Kreitner 2009). The Enron crisis gave rise to the â€Å"infallibility of the capitalistic economic system† (Conrad 2010). Analysing the Moral Problem According to a business ethicist, Manuel Velasquez, the reasons for ethical shortcomings of Enron can largely grouped into personal, organizational and systemic causes. Personal causes tend to explain the intent behind the actions that the executives took. The executives appeared greedy and interested in increasing their personal wealth. They did not give any consideration to the ethical implications of their actions and their actions represented a lack of compassion to the employees and the stakeholders (Santa Clara University 2010). When analysing their actions from a moral

Aircraft Crash Survival Analysis and Design Essay Example for Free

Aircraft Crash Survival Analysis and Design Essay 1. Describe the effect plowing can have on crash forces when the impact surface is soft soil. Earth gouging and scooping of soil occur when the structure makes initial contact with the ground which minimize the acceleration and force levels to which the structure is subjected. Soft soil can cause plowing and rapid deceleration if there is a large horizontal velocity component. A high-speed longitudinal impact into water can also cause high loads from water plowing as water enters through lower nose transparencies. Reducing the earth scooping effects encountered in longitudinal impacts should include a large, relatively flat surface thereby increasing the aircrafts tendency to slide over the impact terrain and by minimizing inward buckling of the fuselage nose or engine nacelle to maintain skid surface integrity. 2. Explain the term submarining in respect to the use of lap belt restraints. What human injuries may result? This is where the lap belt rides over the pelvic brim and compresses the soft tissues of the abdomen resulting in serious abdominal and spinal injuries. Submarining occurs due to the pelvis rotating under the lap belt, usually due to inappropriate location of the lap belt anchors or due to poor design of the seat bottom or a combination of both. Lap belt only restraints so commonly inflicted serious injuries on users in automobile crashes that the medical community coined a new term, â€Å"the seat belt syndrome†, to describe  the constellation of injuries caused by submarining under the lap belt. ftp://ftp.rta.nato.int/pubfulltext/RTO/EN/RTO-EN-HFM-113/EN-HFM-113-06.pdf 3. Discuss forward and rearward facing passenger seats and explain which you feel may be an advantage in crash survivability. The rearward-facing seat is optimal for providing maximum support and contact area in longitudinal impacts. The only critical impact sequence for the rearward-facing seat is one that involves a severe lateral component that allows sideward movement of the occupant prior to application of the longitudinal or vertical Pulse. However, lateral torso movement can be minimized by use of a torso restraint system of much lighter weight than that required for other seat orientations. The rearward-facing cabin seat is preferred. 4. Explain the concept and intention of Delethalization of Cockpit and Cabin Interiors. The delethalization of cockpit and cabin interiors is the design and set up of aircraft cockpits and cabins to prevent injury on impact. This is done by ensuring the occupants immediate environment be designed so that when the body parts do flail and contact rigid or semi-rigid structures, injury potential is minimized. This can be done in different manners. First is to relocate the hazardous structure or object out of the occupants reach or the hazard might be reduced by mounting the offending structure on frangible or energy-absorbing supports and applying a padding material to distribute the contact force over a larger area on the body member. The aircraft interior has occupant strike envelopes, meaning that there are hazards that are more conducive to occupant injury than others. Overall the intent is to protect the head and torso first to prevent debilitating injuries or death and then protecting the lower body parts to ensure the area hazards are clear of tripping hazards or anything that could prevent rapid escape. Typical contact hazards in the cockpit area include window and door frames, consoles, controls and control columns, seat backs,  electrical junction boxes, glare shields, and instrument panels. Contact hazards commonly found in aircraft cabin areas include window and door frames, seats, and fuselage structure. Use of suitable energy absorbing padding materials, frangible breakaway panels, smooth contoured surfaces, or ductile materials in the typical hazard areas mentioned is recommended to reduce the injury potential of occupied areas. The use of protective helmets is also recommended in certain types of aircraft. 5. Explain the expected advantage frangible fuel system attachments can provide as an aircraft post-crash survival technique. Frangible Attachment- An attachment possessing a part that is designed to fail at a predetermined location and/or load. Frangible structures or frangible bolts should be used at all attachment points between fuel tanks and aircraft structure to prevent fuel tank components from being torn out of the tank wall during impact. Frangible attachments should be used at other points in the flammable fluid systems where aircraft structural deformation could lead to flammable fluid leakage. This increases the survivability by containing any remaining fuel to the tank its encapsulated within and reducing the chance of a fire being spread throughout a crash site or into the cabin. 6. What are some of the key concerns when selecting aircraft interior materials form a crash survivability perspective? All aircraft interior materials such as seat fabrics and cushions, interior wall insulations, and nonmetallic structural components must be flame resistant and produce the least amount of smoke and toxic gases possible. 7. Describe some of the key points of post-crash design criteria associated with oil and hydraulic systems. Oil and hydraulic fluids are easily ignited and can serve as ready ignition sources for fuel meaning fluid spillage should be prevented. Oil tanks and  hydraulic reservoirs should not be located where spilled or sprayed fluid can readily be ingested into the engine or ignited by the engine exhaust. Oil tanks and hydraulic reservoirs should not be located near the bottom of the fuselage, in or above engine compartments, in electrical compartments, in occupiable areas under, in front of, or at the side of heavy masses, such as engines and transmissions, nor above landing gears Oil and hydraulic lines should consist of flexible hoses with steel-braided outer sheaths and for high-temperature; coiled metal tubing should be used. Lines should not be routed, near the bottom of the fuselage, over landing gears, under, in front of, or at the sides of heavy masses, such as engines and transmissions, in the leading edges of wings, in areas of anticipated rotor blade impact, in any area where flammable fluids could be spilled or sprayed onto hot surfaces or ingested into the engine or above electrical wiring 8. Considering aircraft electrical system post-crash survivability design, what are the guidelines concerning routing electrical wires in the vicinity of flammable fluid lines? Wiring is a prime ignition source for leaking oil, fuel or hydraulic fluid leaks or vapors. To aid in crash survivability wires should be routed above or away from flammable fluid lines and they should never be closely spaced between outer skin and fuel lines. Wires must not be routed near flammable fluid tanks unless the wires are shrouded to prevent arcing. Wires should not be routed near the bottom of the fuselage, over landing gears or in the leading edges of wings. 9. What G forces are experienced if an aircraft impacts the ground at a speed of 120 MPH and skids along the ground 50 feet before coming to rest? 9.8 G’s. 120^2/50 = 14400/50=288288x.034=9.79 10. Explain why you believe passenger airlines do not have to utilize passenger shoulder harnesses as a crash survival precaution. The passenger shoulder harness is not used for crash survival because: *  The cost of the harnesses for one would be huge to retrofit all the airliners in the fleet today and that cost would be put onto the customer. * The need for various sizes; very small through very large would result in further cost. * Comfort, if people are not comfortable then they will not have a good flying experience while others may have a fear or feeling that they are trapped. * The ability to understand how to use the shoulder harness. Most cannot figure out how to wear the harness which would delay taxiing and flight times. The required ability to quickly restrap in bad weather or to unstrap in an egress situation could be deadly. * Americans don’t like to be told what they have to do†¦.they are the paying customer.

Efficiency Rationales For Vertical Restraints Economics Essay

Efficiency Rationales For Vertical Restraints Economics Essay INTRODUCTION Competition law history shows that since the early 70s, many economists have developed a more thorough theoretical and empirical knowledge into the workings of vertical restraints. The new theories are often rooted in principal-agent theory, where the supplier is the principal and the distributor is the agent, and vertical contracts are used to align incentives to resolve information asymmetries between the two. (Niels, G, Jenkins, H and Kavanagh, J, 2011). VERTICAL RESTRAINTS In nearly all markets across the world, products are made in different stages and manufacturers do not sell their products directly to the final consumer but via intermediaries, distributors, wholesalers, retailers etc. The treatment of vertical agreements under competition law is different when compared to horizontal agreements. When goods and services are complements, price cuts cause an opposite effect.  [1]  Price cuts by one company will tend to stimulate demand for complementary products. This effect is again an external effect, and the price-cutting company will normally not take it into account. Thus, each firm has an interest in seeing price cuts by suppliers of complementary products. A joint profit-maximizing agreement between complementary firms will then seek to internalize the price externalities and lead to price reduction. This is exactly in the interest of the consumers. As a result, an agreement entered into by providers of complementary products is unlikely to be bad for welfare.  [2]   According to M.Motta (2004) some of the most common examples of vertical restraints are: Non-linear pricing. Quantity discounts Resale Price Maintenance (RPM) Quantity fixing. Exclusivity clauses EFFICIENCY RATIONALES FOR VERTICAL RESTRAINTS It is recognized that vertical restraints promote non-price competition and improved quality of services. When a firm has no or limited market power it will try to increase its gains by optimizing its processes. According to the EU Commission Notice: Guidelines on Vertical Restraints (2000/ C 291/01) In a number of situations vertical restraints may be helpful in this respect since the usual arms length dealings between supplier and buyer, determining only price and quantity of a certain transaction, can lead to a sub-optimal level of investments and sales. In a business environment producers would usually benefit from strong competition among the retailers. Therefore any restrictions imposed must have as a rationale- efficiency motives. The most common pro-competitive explanations are: Elimination of double marginalization: If a product has to go through many intermediaries before reaching the final consumer, the mark-ups imposed by each on top of the costs may result in excessive pricing. Double marginalization problem can be overcome by vertical integration or through vertical agreements (a looser form) as well as by means of some clauses, such as RPM or two-part tariffs. Another important justification revolves around the free rider problem which is of two-types- rival suppliers and rival distributors. Retailers might have low incentive to invest in services, as these are difficult to fully appropriate. Others may free ride on a full-service retailers effort to increase demand. As a result, without restrictive clauses, there will be under-provision of services, to the detriment of consumers. Secondly, in order to increase the demand, producers may be willing to invest in the retailers services such as training etcà ¢Ã¢â€š ¬Ã‚ ¦. However, this incentive would be removed by the possibility that other producers enjoy the positive spillover from this investment. Exclusive dealing can counteract this concern. The hold-up problem. When there are client-specific investments to be made by either the supplier or the buyer, such as in special equipment or training. The investor may not commit the necessary investments before particular supply arrangements are fixed. European Commission. Commission Notice: Guidelines on Vertical Restraints. Brussels. SEC (2010) 411. Alleviation of commitment problem: when a manufacturer holds market power and can sell a specific input to more retailers, it cannot credibly commit not to renegotiate the contract once it has already been signed. Due to this, the manufacturer cannot fully enjoy the market power unless some contractual clauses make the commitment credible. Finally, other efficiency motives of vertical restraints exist such as economies of scale in distribution, reduction in transaction costs, capital market imperfections, increasing brand image, uniformity and quality standardization. In essence, the economically sound presumption is that vertical restraints are efficiency-enhancing, may enhance inter-brand competition or foster the relationship-specific investments and help the development of new markets. In addition, vertical restraints may thus result in a reduction in prices, increase in demand and higher consumer welfare effects. INTERBRAND VERSUS INTRABRAND COMPETITION Generally, when there is substantial market power at the level of the supplier or the buyer even if at both levels, vertical agreements will likely to raise competition concern. It is important at this juncture to make explicit the distinction between interbrand and intrabrand competition. Interbrand competition is between suppliers selling different brands of goods of similar kind. This means interbrand competition takes place within the relevant market. On the other hand, intrabrand competition (including price competition) is between retailers selling the same brand of a product. Interbrand competition, rather than intrabrand competition, is the primary focus of antitrust law  [3]  and the correlation between intrabrand and interbrand competition forms the basis for decisions in respect of the lessening of both. The protection of interbrand and intrabrand becomes vital when there is inadequate interbrand competition. In the Research Handbook on International Competition Law 2012, pg 431, (Dobson, Paul W. Waterson, Michael, 2007) stated that in cases where the interbrand competition in the market is not as strong, intrabrand competition might become more important because intrabrand competition can reintroduce the loss of competitive pressure from other brands. Taking into account intrabrand and interbrand competition is important to determine the impact of vertical restraints on competition. In certain scenario, introducing vertical restraints can be a means to dilute competition upstream between manufacturers that do not compete directly face to face but through their retailers. Furthermore, as interbrand and intrabrand rivalry intensifies, all prices (regardless of supply arrangements) fall towards marginal costs. POTENTIAL HARM TO COMPETITION Whish, R and Bailey, D (2012) outlines four possible negative effects arising from vertical restraints under EU law: Anti-competitive foreclosure of other suppliers or buyers by raising barriers to entry. Softening of competition between the supplier and its competitors and/or facilitation of both explicit and tacit collusion, often referred to as a reduction of interbrand competition. Softening of competition between the buyer and its competitors and/or facilitation of collusion, commonly referred to as a reduction of intra-brand competition between distributors of the same brand. The creation of obstacles to market integration. The above negative effects may result from various vertical restraints. The negative effects on competition will be analyzed mainly concentrating on two groups for the purpose of this assignment. Single branding are those agreements which have as their core the inducement of the buyer to concentrate orders for a particular type of product with one supplier. The four main negative effects on competition and interbrand competition are (1) other suppliers in that market cannot sell to the particular buyers and this may lead to foreclosure of the market or, in the case of tying, to foreclosure of the market for the tied product, (2) it makes market shares more rigid and this may help collusion when applied by several suppliers, (3) as far as the distribution of final goods is concerned, the particular retailers will only sell one brand and there will therefore be no interbrand competition on their shops (no in-store competition) (4) in the case of tying ,the buyer may pay a higher price for the tied product. EU Commission Notice: Guidelines on Vertical Restraints (2000/ C 291/01) Limited distribution is those agreements which have as their core that the manufacturer sells to one or a limited number of buyers. There are three main negative effects on competition: (1) certain buyers within that market can no longer buy from that particular supplier, and this may lead in particular in the case of exclusive supply, to foreclosure of the purchase market, (2) when most or all of the competing suppliers limit the number of retailers, this may facilitate collusion, either at the distributors level or at the suppliers level, and (3) since fewer distributors will offer the product it will also lead to a reduction of intra-brand competition. In the case instance of wide exclusive territories or exclusive customer allocation the result may be total elimination of intra-brand competition. This reduction of intra-brand competition can in turn lead to a weakening of interbrand competition. EU Commission Notice: Guidelines on Vertical Restraints (2000/ C 291/01) Entry deterrence: one of the most obvious concerns is represented by the possibility that vertical restrictions are strategically used to deter entry in either level of the chain, by foreclosing access to inputs or to customers and in the long run they can be used to raise significant barriers to entry if competition is not already substantial. Under Bertrand competition, downstream manufacturers can strategically use some vertical clauses to encourage retailers to behave in a less aggressive way and reap a higher profit. Exclusive arrangements are generally worse for competition than non-exclusive arrangements. In essence, the potential for anticompetitive outcomes depends upon factors such as the market power of the firms involved, the presence of a minimum scale to cover fixed costs, the share of downstream market covered by the restraints and the nature of competition downstream. CONCLUSION The fact that vertical agreements are agreements concluded between companies in a vertical relationship suggests that they can often be regarded as positive. However, economic literatures on vertical restraints have shown both pro and anti-competitive effects. Both price and non-price may either increase or decrease economic welfare: the crucial importance is not the restraints used but the context in which it is used and the goal that it is supposed to achieve. The EU Commission has observed that market structure plays an important role in determining the impact of vertical restraints: The fiercer is interbrand competition, the more likely are the pro-competitive and efficiency effects to outweigh any anti-competitive effects of vertical restraints. Anti-competitive effects are only likely where interbrand competition is weak and there are barriers to entry at either producer or distributor level. In addition it is recognised that contracts in the distribution chain reduce transaction costs, and allow the potential efficiencies in distribution to be realised. In contrast, there are cases where vertical restraints raise barriers to entry or further dampen horizontal competition in oligopolistic markets.  [4]   In addition, EU Regulation 2790/1999 recognized the importance of market power in establishing whether or not vertical restraints can have important anti-competitive effects. As per the OECD: Joint Group on Trade and Competition Paper, the efficiency enhancing effect and benefit to consumers from vertical restraints is likely to dominate with the exception of vertical restraints being used to facilitate collusion, it is highly improbable that such restraints will have net anti-competitive effects unless there is either: market power on at least one level in the market or the restraint, either on its own or in concert with other vertical restraints, has the power to exclude or disadvantage a significant number of competitors anti-competitive effects are only likely where interbrand competition is weak and there are barriers to entry, (d) causing foreclosure of competitors. Accordingly, the approach taken by many competition authorities on vertical restraints is a careful case by case analysis. . BIBLIOGRAPHIES/REFERENCES Niels, G, Jenkins, H and Kavanagh, J.: Economics for Competition Lawyers (Oxford University Press, 2011). Motta, M, Competition Policy: Theory and Practice (Cambridge University Press, 2004) Whish, R and Bailey, D (2012). Competition Law. 7th edn. Oxford University Press. Swedish Competition Authority. 2008. The pros and cons of vertical restraints. ISBN 978-91-88566-44-7 http://www.konkurrensverket.se/upload/Filer/Trycksaker/Rapporter/ProsCons/rap_pros_and_cons_vertical_restraints.pdf [Accessed 10/02/2013] D.Harbord and N-H von der Fehr. The Law and Economics of Vertical Restraints: An Overview. (December 10, 2007) http://www.market-analysis.co.uk/PDF/Reports/Vertical%20Restraints_%2010December07.pdf [Accessed 10/02/2013] V. Verouden, Vertical Agreements: Motivation and Impact, in 3 ISSUES IN COMPETITION LAW AND POLICY 1813 (ABA Section of Antitrust Law 2008). Chapter 72. http://ec.europa.eu/dgs/competition/economist/vertical_agreements.pdf [Accessed 07/02/2013] D. Geradin and C M da Silva Pereira Neto. FOR A RIGOROUS EFFECTS-BASED ANALYSIS OF VERTICAL RESTRAINTS ADOPTED BY DOMINANT FIRMS: AN ANALYSIS OF THE EU AND BRAZILIAN COMPETITION LAW. June 2012 http://www.cedes.org.br/inscricao/pdf/final-study-on-vertical-restraints-final-clean.pdf [Accessed on 05/02/2013] F Lafontaine and M Slade. Exclusive Contracts and Vertical Restraints: Empirical Evidence and Public Policy, (Journal of Economic Literature classification numbers: L42, L81), September 2005. http://www2.warwick.ac.uk/fac/soc/economics/staff/academic/slade/wp/ecsept2005.pdf [Accessed on 05/02/2013] C Berkouk and I Masiero. The evolution of the legal assessment of vertical restraints in European and US antitrust law. Master in Competition and Market Regulation 2010/11. http://www20.gencat.cat/docs/economia/80_ACCO/Documents/Arxius/Tesines%20BGSE/03.evolution_vertical_restraints_us_europe.pdf [Accessed on 05/02/2013] Competition Commission. GUIDELINES FOR MARKET INVESTIGATIONS. 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