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This paper outlines the basic principles of multiplex techniques for multimedia transmission over existing or upcoming mobile systems. After problem de"nition we evaluate the requirements for an additional layer. According to the two basic tasks, adaptation and multiplexing, this new layer is divided into two sub-layers. Existing multiplex techniques are(More)
We show that, in an environment where information regarding firm quality is endogenously produced, mandatory disclosure can reduce the incentives of an issuer contemplating an initial public offering of common stock to produce information regarding the issuer's expected return. We consider the effect of three disclosure regimes (no disclosure, voluntary(More)
Negative externalities have competitive relevance in a market when they have selective impacts – as, for example, when a product in use imposes greater costs on consumers of rival products than on other people. Because managers have discretion over aspects of product design that affect external costs, the externality in such cases may be viewed as a(More)
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