The Child Adoption Marketplace: Parental Preferences and Adoption Outcomes

In the United States child adoption costs vary considerably, ranging from no out-of-pocket expense to $50,000 or more. What are the causes for the variability in adoption expenses? We administered a survey to a sample of Michigan adoptive families to link adoptive parent characteristics, child characteristics, and adoption-related expenses and subsidies. We then estimate “hedonic” regressions in which adoption cost is a function of child characteristics. The analysis shows that most of the variation in adoption costs is explained by child characteristics. In particular, costs lower for older children, children of African descent, and special needs children. Findings inform policies regarding the transition of children from foster care to adoptive families.child welfare, adoption, subsidy

Evidence for glaciation in Elysium

It is suggested that certain landforms in the Elysium region of Mars provide strong evidence for glaciation. Landscapes related to subglacial volcanism suggest that ice was a primary agent in the development of Elysium

The Allocation and Dissipation of Resource Rents: Implications for Fishery Reform

In the move to adopt rights based arrangements for renewable resources to avoid the losses of open access and the inefficiencies of prescriptive regulation, we argue that grandfathering the allotments of local users can be the most efficient distribution mechanism. We differ from the standard support among economists for auctions which contends that auctions allocate rights to the highest valued users and thereby maximize rents. Our contention is that rents are not a fixed stock as is commonly assumed, but rather depend upon the actions of those who use the natural resource and convert it into valuable goods and services. First-possession allocation assigns ownership and rents to existing users, reinforcing their incentives for stewardship and rent maximization. Resource rents are an important source of wealth and well being, especially in developing countries. By contrast the alternative, auction allocation, assigns ownership to winning bidders, but the rents are captured by the auctioneer, often the state, not local agents. We argue that there can be important efficiency effects. Our empirical focus is on fisheries, but the implications extend to other settings.

Higher-order perturbation solutions to dynamic, discrete-time rational expectations models

We present an algorithm and software routines for computing nth order Taylor series approximate solutions to dynamic, discrete-time rational expectations models around a nonstochastic steady state. The primary advantage of higher-order (as opposed to first- or second-order) approximations is that they are valid not just locally, but often globally (i.e., over nonlocal, possibly very large compact sets) in a rigorous sense that we specify. We apply our routines to compute first- through seventh-order approximate solutions to two standard macroeconomic models, a stochastic growth model and a life-cycle consumption model, and discuss the quality and global properties of these solutions.Macroeconomics - Econometric models ; Business cycles ; Monetary policy

Grain Marketing Strategies of North Dakota Grain Farmers

The basic objective of this report is to discuss the factors considered and the methods that are used by small-grain farmers in the marketing of their products. The figures and discussions which appear in this report are not meant to be an inclusive average of all farmers in North Dakota, but rather a consensus of specific groups of farmers engaged primarily in producing small-grains with limited income from other sources. It is hoped that this report will serve as a useful reference in helping North Dakota small-grain producers identify possible marketing alternatives and strategies available.Marketing,

Efficiency Advantages of Grandfathering in Rights-Based Fisheries Management

We show that grandfathering fishing rights to local users or recognizing first possessions is more dynamically efficient than auctions of such rights. It is often argued that auctions allocate rights to the highest-valued users and thereby maximize resource rents. We counter that rents are not fixed in situ, but rather depend additionally upon the innovation, investment, and collective actions of fishers, who discover and enhance stocks and convert them into valuable goods and services. Our analysis shows how grandfathering increases rents by raising expected rates of return for investment, lowering the cost of capital, and providing incentives for collective action.Fishing rights, property rights, allocating fishing rights, grandfathering fishing rights, auctions of fishing rights, fisheries rent

Toward A Pax Universalis

The centerpiece of the new U.S. strategy for the New World Order is strategic reserve called the Crisis Response Force, designed to replace many aspects of our current forward defense. This study examines whether strong, standing strategic reserve is appropriate to the American situation in the coming decade; it proceeds by comparing the overall strategy with live historic case studies of systems that faced similar problems and opportunities. The historic models chosen are the Roman Empire (from the fall of Carthage to A.D. 69; from A.D. 69 to A.D. 306; and from A.D. 306 until the final collapse); the Byzantine Empire; and the British Empire from Waterloo • World War I. The study applies a set of seven criteria to each case and systematically examines the results to find pitfalls and mechanisms which lay have enduring relevance to a postulated future predicted by the 1991 Naval War College Global War Game. The study concludes that, as a possibly extended) transitional stage toward an ideal network of regional coalitions, the new national strategy is realistic and effective-except, significantly. in the Middle East where a naval bridge approach should have taken. This study was originally prepared as a report for the Strategy and campaign Department, Center for Naval Warfare Studies, Naval War College (Strategy and Campaign Report 12-91).https://digital-commons.usnwc.edu/usnwc-newport-papers/1002/thumbnail.jp