Emission Trading Systems and the Optimal Technology Mix

Cap and trade mechanisms enjoy increasing importance in environmental legislation worldwide. The most prominent example is probably given by the European Union Emission Trading System (EU ETS) designed to limit emissions of greenhouse gases, several other countries already have or are planning the introduction of such systems. One of the important aspects of designing cap and trade mechanisms is the possibility of competition authorities to grant emission permits for free. Free allocation of permits which is based on past output or past emissions can lead to inefficient production decisions of firms’ (compare for example B¨ohringer and Lange (2005), Rosendahl (2007), Mackenzie et al. (2008), Harstad and Eskeland (2010)). Current cap and trade systems grant free allocations based on installed production facilities, which lead to a distortion of firms’ investment incentives, however. It is the purpose of the present article to study the impact of a cap and trade mechanism on firms’ investment and production decisions and to analyze the optimal design of emission trading systems in such an environment.Emissions Trading; Free Allocation; Investment Incentives; Technology Mix

Investment Incentives and Electricity Spot Market Design

In liberalized electricity markets strategic firms compete in an environment characterized by fluctuating demand and non-storability of electricity. While spot market design under those conditions by now is well understood, a rigorous analysis of investment incentives is still missing. Existing models, as the peak-load-pricing approach, analyze welfare optimal investment and find that optimal investment is higher with more competitive spot markets. In this article we want to extend the analysis to investment decisions of strategic firms that anticipate competition on many consecutive spot markets with fluctuating (and possibly uncertain) demand. We study how the degree of spot market competition affects investment incentives and welfare and provide an application of the model to electricity market data. Our results show that more competitive spot market prices strictly decrease investment incentives of strategic firms. The reduction of investment incentives can be so intense to even offset the beneficial impact of more competitive spot market design. Those results obtain with and without free entry. Our analysis thus demonstrates that investment incentives necessarily have to be taken into account for a meaningful assessment of proper electricity spot market design.Investment; demand fluctuation; cost fluctuation; spot market design

Granular activated carbon (GAC) biofilter in water and wastewater treatment

University of Technology, Sydney. Faculty of Engineering.Biofilters can effectively remove organic matters from water and wastewater. Basically, the success of operation of a biofilter depends mainly on the activities of the microbial community in the filter. Organic substances are adsorbed onto filter media and then biodegraded by those microbes. The experimental investigation of the granular activated carbon (GAC) adsorption indicated that GAC exhibited a high organic removal rate by adsorption in both the batch and column experiments. The GAC adsoiption equilibrium with synthetic wastewater fitted better with association theory (Talu) than with Freundlich and Sips models. Adsorption kinetics and fixed bed of GAC with organic matter was well described and predicted by the Linear Driving Force Approximation (LDFA) model. Long term GAC biofiltration was mathematically described using a simple model which incorporated both adsoiption and biodegradation. The model was mainly successful in describing the biological phase. Biomass accumulation onto GAC was evaluated in terms of dry mass and number of viable cells both in the batch and column experiments. The attachment of micro-organisms onto the GAC surface depended on the hydraulic loading rate and influent concentration. The amount of dry mass retained on GAC in the column was double than that in batch test in the steady state with 44mg/g GAC and 85mg/g GAC respectively. More viable cells were enumerated from GAC in the experiments with synthetic wastewater than with river water. The prominent bacteria isolated from GAC biofilter for synthetic wastewater and river water included: Pseudomonas Aeruginos, Pseudomonas Alcaligenes, Brevibacterium Otitidis, Enterobacter Cloacae, Enterobacter Aerogenes, Staphylococcus Epidermidis and Kocuria Rosea. The long term performance of the GAC biofilter with synthetic wastewater which has similar characteristics to biologically treated sewage effluent and river water was experimentally evaluated. The result showed that the GAC biofilter could maintain high organic removal efficiency after a long filtration time without any regeneration of activated carbon. Even after 42 days of continuous run, the biofilter of very short depth of 15cm GAC bed depth maintained a consistent organic removal efficiency of 40-50% with synthetic wastewater and 55% with river water. GAC biofilter also removed 60-98% of total coliforms from synthetic wastewater and river water. Especially, no fecal coliforms were detected in effluent from the GAC biofilter for river water. The daily backwash adopted to avoid the physical clogging of the biofilter did not have significant effect on the performance of the filter. The change of filter bed depths, filtration rates and influent concentrations affected the performance of the GAC biofilter. Total organic carbon (TOC) removal efficiency in the higher filter bed was significantly better than that with shallow bed depth (60% TOC removal with a 30cm- bed depth while only 30% with a 5 cm - bed depth). As expected, the efficiency in organic removal decreased with an increase in the filtration rate. The difference was more significant in the lower bed. TOC removal efficiency of the biofilter was also affected by the concentration of influent. It increased with the increase in the concentration of influent, but the TOC removal pattern with time was almost the same. Further, the increase of organic removal rate was not proportional to the rise of influent concentration. A study with different filter media showed that GAC as filter media was superior to plastic bead, anthracite and sponge in terms of organic removal. In addition, GAC was combined with sponge or polypropylene as medium to enhance the effectiveness of biofilter in removing organic matter. The use of sponge and floating media can eliminate further 10-20% of TOC from the effluent of GAC biofilter with less effort in installation, operation and maintenance. In summary, GAC biofilter can be used as an economical treatment system in removing organic matters and pathogens from biologically treated wastewater and surface water. The merits of GAC biofilter are the consistent of TOC removal efficiency, long life cycle, and simplicity in operation. The combined system of GAC - sponge filter media biofilter can be an effective and a good practical solution for improving the organic removal from water and wastewater

Is the convergence of accounting standards good for stock markets?

This paper examines the impact of the convergence of Hong Kong Accounting Standard 40 (HKAS 40) with the International Financial Reporting Standard (IFRS) on the stock prices of firms in the property industry. Using a sample of 22111 firm-day observations, we show that the new standard has a negative impact on the stock performance of these firms.published_or_final_versio

Eco-friendly facile synthesis of Co3O4-Pt nanorods for ethylene detection towards fruit quality monitoring

Ethylene, a biomarker widely employed for evaluating fruit ripening during storage, exists at extremely low concentrations. Therefore a gas sensor with high sensitivity and a sub-ppm detection limit is needed. In this work, porous Co3O4 nanorods were synthesized through a hydrothermal method involving Co(NO3)2, Na2C2O4, H2O and ethylene glycol (EG), followed by annealing at 400 degrees C in air. The surface of the porous Co3O4 nanorods was functionalized with Pt nanoparticles to enhance the ethylene sensing performance. The effect of Co3O4 surface functionalisation with Pt nanoparticles was investigated by adding different amounts of nanoparticles. The sensor's outstanding performance at the optimum working temperature of 250 degrees C is attributed to the synergy between the high catalytic activity of Pt nanoparticles and the extensive surface area of the porous Co3O4 nanorods. Compared to pure Co3O4, the 0.031 wt% Pt sensor showed better ethylene sensing performance with a response 3.4 times that of pristine Co3O4. The device also demonstrated high selectivity, repeatability, long-term stability and a detection limit of 0.13 ppm for ethylene, which is adequate for fruit quality monitoring. The gas sensing mechanism of porous Co3O4 nanorods and the influence of Pt decoration on sensor performance are discussed

Selectively Cross-Linked Tetra-PEG Hydrogels Provide Control over Mechanical Strength with Minimal Impact on Diffusivity.

Synthetic hydrogels formed from poly(ethylene glycol) (PEG) are widely used to study how cells interact with their extracellular matrix. These in vivo-like 3D environments provide a basis for tissue engineering and cell therapies but also for research into fundamental biological questions and disease modeling. The physical properties of PEG hydrogels can be modulated to provide mechanical cues to encapsulated cells; however, the impact of changing hydrogel stiffness on the diffusivity of solutes to and from encapsulated cells has received only limited attention. This is particularly true in selectively cross-linked "tetra-PEG" hydrogels, whose design limits network inhomogeneities. Here, we used a combination of theoretical calculations, predictive modeling, and experimental measurements of hydrogel swelling, rheological behavior, and diffusion kinetics to characterize tetra-PEG hydrogels' permissiveness to the diffusion of molecules of biologically relevant size as we changed polymer concentration, and thus hydrogel mechanical strength. Our models predict that hydrogel mesh size has little effect on the diffusivity of model molecules and instead predicts that diffusion rates are more highly dependent on solute size. Indeed, our model predicts that changes in hydrogel mesh size only begin to have a non-negligible impact on the concentration of a solute that diffuses out of hydrogels for the smallest mesh sizes and largest diffusing solutes. Experimental measurements characterizing the diffusion of fluorescein isothiocyanate (FITC)-labeled dextran molecules of known size aligned well with modeling predictions and suggest that doubling the polymer concentration from 2.5% (w/v) to 5% produces stiffer gels with faster gelling kinetics without affecting the diffusivity of solutes of biologically relevant size but that 10% hydrogels can slow their diffusion. Our findings provide confidence that the stiffness of tetra-PEG hydrogels can be modulated over a physiological range without significantly impacting the transport rates of solutes to and from encapsulated cells

Factors influencing the use of antenatal care in rural West Sumatra, Indonesia

<p>Abstract</p> <p>Background</p> <p>Every year, nearly half a million women and girls needlessly die as a result of complications during pregnancy, childbirth or the 6 weeks following delivery. Almost all (99%) of these deaths occur in developing countries. The study aim was to describe the factors related to low visits for antenatal care (ANC) services among pregnant women in Indonesia.</p> <p>Method</p> <p>A total of 145 of 200 married women of reproductive age who were pregnant or had experienced birth responded to the questionnaire about their ANC visits. We developed a questionnaire containing 35 items and four sections. Section one and two included the women's socio demographics, section three about basic knowledge of pregnancy and section four contained two subsections about preferences about midwives and preferences about Traditional Birth Attendant (TBA) and the second subsections were traditional beliefs. Data were collected using a convenience sampling strategy during July and August 2010, from 10 villages in the <it>Tanjung Emas</it>. Multiple regression analysis was used for preference for types of providers.</p> <p>Results</p> <p>Three-quarter of respondents (77.9%) received ANC more than four times. The other 22.1% received ANC less than four times. 59.4% received ANC visits during pregnancy, which was statistically significant compared to multiparous (<it>p </it>= 0.001). Women who were encouraged by their family to receive ANC had statistically significant higher traditional belief scores compared to those who encouraged themselves (<it>p </it>= 0.003). Preference for TBAs was most strongly affected by traditional beliefs (<it>p </it>< 0.001). On the contrary, preference for midwives was negatively correlated with traditional beliefs (<it>p </it>< 0.001).</p> <p>Conclusions</p> <p>Parity was the factor influencing women's receiving less than the recommended four ANC visits during pregnancy. Women who were encouraged by their family to get ANC services had higher traditional beliefs score than women who encouraged themselves. Moreover, traditional beliefs followed by lower income families had the greater influence over preferring TBAs, with the opposite trend for preferring midwives. Increased attention needs to be given to the women; it also very important for exploring women's perceptions about health services that they received.</p

Fibroblast growth factor 2 (FGF2) regulates cytoglobin expression and activation of human hepatic stellate cells via JNK signaling

Cytoglobin (CYGB) belongs to the mammalian globin family and is exclusively expressed in hepatic stellate cells (HSCs) in the liver. In addition to its gas-binding ability, CYGB is relevant to hepatic inflammation, fibrosis, and cancer because of its antioxidative properties; however, the regulation of CYGB gene expression remains unknown. Here, we sought to identify factors that induce CYGB expression in HSCs and to clarify the molecular mechanism involved. We used the human HSC cell line HHSteC and primary human HSCs isolated from intact human liver tissues. In HHSteC cells, treatment with a culture supplement that included fibroblast growth factor 2 (FGF2) increased CYGB expression with concomitant and time-dependent α-smooth muscle actin (αSMA) downregulation. We found that FGF2 is a key factor in inducing the alteration in both CYGB and αSMA expression in HHSteCs and primary HSCs and that FGF2 triggered the rapid phosphorylation of both c-Jun N′terminal kinase (JNK) and c-JUN. Both the JNK inhibitor PS600125 and transfection of c-JUN-targeting siRNA abrogated FGF2-mediated CYGB induction, and, conversely, c-JUN overexpression induced CYGB and reduced αSMA expression. Chromatin immunoprecipitation analyses revealed that upon FGF2 stimulation, phospho-c-JUN bound to its consensus motif (5′-TGAC/GTCA), located −218 to −222 bases from the transcription initiation site in the CYGB promoter. Of note, in bile duct-ligated mice, FGF2 administration ameliorated liver fibrosis and significantly reduced HSC activation. In conclusion, FGF2 triggers CYGB gene expression and deactivation of myofibroblastic human HSCs, indicating that FGF2 has therapeutic potential for managing liver fibrosis

In vitro and in vivo delivery of a sustained release nanocarrier-based formulation of an MRTF/SRF inhibitor in conjunctival fibrosis

Abstract Background Sustained drug delivery is a large unmet clinical need in glaucoma. Here, we incorporated a Myocardin-Related Transcription Factor/Serum Response Factor inhibitor, CCG-222740, into slow release large unilamellar vesicles derived from the liposomes DOTMA (1,2-di-O-octadecenyl-3-trimethylammonium propane) and DOPC (1,2-dioleoyl-sn-glycero-3-phosphocholine), and tested their effects in vitro and in vivo. Results The vesicles were spherical particles of around 130 nm and were strongly cationic. A large amount of inhibitor could be incorporated into the vesicles. We showed that the nanocarrier CCG-222740 formulation gradually released the inhibitor over 14 days using high performance liquid chromatography. Nanocarrier CCG-222740 significantly decreased ACTA2 gene expression and was not cytotoxic in human conjunctival fibroblasts. In vivo, nanocarrier CCG-222740 doubled the bleb survival from 11.0 ± 0.6 days to 22.0 ± 1.3 days (p = 0.001), decreased conjunctival scarring and did not have any local or systemic adverse effects in a rabbit model of glaucoma filtration surgery. Conclusions Our study demonstrates proof-of-concept that a nanocarrier-based formulation efficiently achieves a sustained release of a Myocardin-Related Transcription Factor/Serum Response Factor inhibitor and prevents conjunctival fibrosis in an established rabbit model of glaucoma filtration surgery.https://deepblue.lib.umich.edu/bitstream/2027.42/146540/1/12951_2018_Article_425.pd

Receptor-targeted liposome-peptide-siRNA nanoparticles represent a novel and efficient therapeutic approach to prevent conjunctival fibrosis.

There is increasing evidence that the Myocardin-related transcription factor/Serum response factor (MRTF/SRF) pathway plays a key role in fibroblast activation and that knocking down MRTF can lead to reduced scarring and fibrosis. Here, we have developed a receptor-targeted liposome-peptide-siRNA nanoparticle as a non-viral delivery system for MRTF-B siRNA in conjunctival fibrosis. Using 50 nM siRNA, the MRTF-B gene was efficiently silenced by 76% and 72% with LYR and LER nanoparticles, respectively. The silencing efficiency was low when non-targeting peptides or siRNA alone or liposome-siRNA alone were used. LYR and LER nanoparticles also showed higher silencing efficiency than PEGylated LYR-P and LER-P nanoparticles. The nanoparticles were not cytotoxic using different liposomes, targeting peptides, and 50 nM siRNA. Three-dimensional fibroblast-populated collagen matrices were also used as a functional assay to measure contraction in vitro, and showed that MRTF-B LYR nanoparticles completely blocked matrix contraction after a single transfection treatment. In conclusion, this is the first study to develop and show that receptor-targeted liposome-peptide-siRNA nanoparticles represent an efficient and safe non-viral siRNA delivery system that could be used to prevent fibrosis after glaucoma filtration surgery and other contractile scarring conditions in the eye