Notes on the Life History of \u3ci\u3ePotamanthus Myops\u3c/i\u3e in Southeastern Michigan (Ephemeroptera: Potamanthidae)

Naiads of the mayfly Potamanthus myops were collected six times over a one year period from the Huron River to obtain some information on their natural history. Contrary to other Ephemeroidea, myops was never collected below the substrate surface, but was usually found on the underside of stones. The immature mayflies were measured and their length plotted for each collection period. The results support the hypothesis that the majority of myops requires two years to mature

Oil Price Indexing Of Natural Gas Prices: An Economic Analysis

Oil price indexing is a peculiar feature of the natural gas markets in Germany and other European countries. It is closely linked to the existence of local monopolies (at least de facto) and of the so called "take-or-pay" (TOP) contracts. After discussing the relation between these features and the motivations for oil price indexing, we formally analyze this strategy in a differentiated good oligoply with a monopolistic supplier of natural gas and competing oil distributors. Starting with a symmetric setting, we first point out how oil price indexing works as a collusive device. In a second step we account for the likely asymmetries between oil and gas distributors. We show that the result obtained under symmetry is not robust and we discuss how the impact of oil price indexing on prices, profits and welfare depends on the form and extent of the asymmetries. -- Die Ölpreisbindung des Erdgaspreises ist ein hervorstechendes Merkmal des Gasmarktes in Deutschland und anderen europäischen Ländern. Diese Besonderheit ist eng verknüpft mit der Existenz lokaler Monopole (trotz Liberalisierung bestehen diese bislang zumindest in Deutschland de facto weiterhin) und sogenannter "take-or-pay" Verträge (TOP contracts), d. h. fixer Abnahmeverpflichtungen zu einem an die Entwicklung des Ölpreises gekoppelten Abnahmepreises. Nach einer Diskussion der Beziehung zwischen diesen drei Besonderheiten des Erdgasmarktes und der möglichen Gründe für die Ölpreisbindung analysieren wir diese Strategie in einem Oligopolmodell mit differenzierten Produkten mit einem monopolistischen Erdgasanbieter und einem oder mehreren konkurrierenden Ölhändlern. Zunächst zeigen wir im Rahmen einer symmetrischen Spezifikation auf, wie die Ölpreisbindung die Kollusion zwischen Erdgas? und Ölanbietern ermöglicht. Anschließend berücksichtigen wir mögliche Asymmetrien zwischen den beiden Energieformen. Dabei zeigt sich, dass das Ergebnis bei Symmetrie nicht robust ist und wir diskutieren im Detail wie die Auswirkung der Ölpreisbindung auf Preise, Gewinne und Wohlfahrt von der Art und vom Ausmaß der Asymmetrien abhängt.Natural gas market,Oligopoly,oil price indexing,Take-or-pay contracts

Regional income distribution and human capital formation: A model of intergenerational education transfer in a global context

The demographic problems in developed countries are getting more and more important. Very low fertility rates especially among skilled individuals will soon become relevant for a country's economy. Also of importance is education of children. Since there is an increasing demand for skilled workers, the positive correlation between social background and education worsens the situation. Therefore family planning as well as fertility providing and educational measures are of major importance for regional decision makers. We define in our model the optimal number of children considering the income and education of their parents by using a Cobb-Douglas utility function which implies that children and consumption are complementary goods. Children are considered to be a differentiated good with respect to their education. Therefore, we distinguish between high educated and low educated children. After deciding the optimal number of children, the education level of children has to be determined. We assume that only one parent is responsible for the education. Further we presume a negative correlation between the opportunity costs of educating a child and their parent's qualification. Since we consider the parents income and education, many cases result. Regional policy makers have the possibility to change individual decisions regarding offspring by creating monetary incentives. As wages and therefore family income are exogenous, the regional governments have only two policy measures left: either child allowance and/or scholarships. Considering the population's preferences, regions may optimize the number and structure of children. --population policy,education,qualification,factor proportions,globalization

Smart entry in local retail markets for electricity and natural gas

Consider a market with switching costs that is initially served by a monopolistic incumbent. How can a competitor successfully enter this market? We show that an offer to undercut the incumbent by a fixed margin serves this purpose. This strategy dominates traditional entry where the entrant just offers a lower price because it restrains the ability of the incumbent to block entry by limit pricing. We also consider adding a price ceiling to insure customers against future price increases. While this has a strategic advantage in markets with elastic demand, it is too risky if substantial cost increases are possible. -- Die vorliegende Arbeit hat zwei Anliegen. Zum einem analysiert sie die konkrete Markteintrittsstrategie von E WIE EINFACH für die bislang von lokalen Monopolen beherrschten Endverbrauchermärkte für Strom und Erdgas. Zum anderen liefert sie einen allgemeinen Beitrag zur theoretischen Analyse von Markteintrittsstrategien in Märkten mit Wechselkosten. Die Besonderheit der Markteintrittsstrategie von E WIE EINFACH besteht darin, anstatt eines eigenständigen Preisangebots den Preis des lokalen Grundversorgers um eine feste Marge zu unterbieten. Ergänzt wurde diese Strategie bis vor kurzem durch die Garantie einer Preisobergrenze auf dem Niveau des bei Vertragsschluss resultierenden Preises. Wir zeigen zunächst, dass die Strategie mit einer festen Marge dem traditionellen Eintritt mit anschließendem Preiswettbewerb überlegen ist, da dem etablierten Unternehmen die Möglichkeit genommen wird, mittels der impliziten Androhung einer Preissenkung (Limit Pricing) den Markteintritt zu verhindern. Ein solches Limit Pricing ist bei Wechselkosten deswegen möglich, da hier der etablierte Wettbewerber einen Preis über den Grenzkosten festlegen kann. Eine genauere Analyse bei elastischer Nachfrage zeigt, dass das etablierte Unternehmen zwar den Markteintritt nicht durch eine Senkung des Preises verhindern kann, dass aber eine Erhöhung des Preises bei gegebener Marge den Wechselvorteil der Konsumenten verringeren und dadurch potentiell einen Wechsel unattraktiv machen könnte. Der Neueintreter kann diese Strategie jedoch zum einen durch die Festlegung einer höheren Marge unattraktiv machen oder -was die pro?tablerer Lösung ist -durch die Kombination von Marge und Preisobergrenze der Verhinderung des Markteintritts durch Preiserhöhung den Boden entziehen. Während sich mit diesen Überlegungen die ursprünglich gewählte Markteintrittsstrategie von E WIE EINFACH ökonomisch begründen lässt, muss für die Erklärung der Aufgabe der Preisobergrenze eine Analyse mit unsicheren Kosten herangezogen werden. Hierbei zeigt sich, dass die Preisobergrenze bei (deutlich) steigenden Bescha?ungskosten (und damit Gleichgewichtspreisen) problematisch sein kann: Es sind dann nicht nur geringere erwartete Gewinne als bei Festlegung einer Marge ohne Preisobergrenze möglich, sondern es kann ex post sogar zu Verlusten kommen. Vor dem Hintergrund der beobachtbaren Kostenentwicklung -insbesondere im Erdgasmarkt -ist darum gut erklärbar, wieso die Strategieanpassung erfolgt ist. In Bezug auf die zweite Fragestellung zeigt die Arbeit eine grundsätzliche Möglichkeit der Selbstbindung beim Markteintritt auf, die auch in anderen Märkten der Überwindung von Markteintrittsbarrieren dienen könnte.Entry strategies,Price competition,Electricity,Natural gas,Markteintrittsstrategien,Preiswettbewerb,Strommarkt,Erdgasmarkt

Coping with Economic Stress: A Test of Deterioration and Stress-Suppressing Models

Economic stress exacts many social and psychological costs on the quality of individual and family life. This study examined the relationships between objective economic stressors, personal and social coping resources, and financial strain. Two waves of data from the National Survey of Families and Households (NSFH) were used to examine variations in the cultural utilization patterns of coping resources among whites (n=4,943), blacks (n=999), and Latinos (n=374). Structural equation modeling tested two competing models of the stress process from the life stress paradigm—the deterioration and stress-suppressing models. The stress-suppressing model was minimally supported; only one coping resource, self-efficacy, confirmed the hypothesized paths. The simultaneous paths hypothesized in the deterioration model were not supported; however, the model fit allowed group comparisons. Markedly different patterns emerged among the subsamples for personal (self-efficacy, savings behavior, bill management) and social (instrumental family support, expressive family support, and community integration) coping resources, and associations with economic stress and financial strain, providing implications for financial therapists and professionals

Conceptualizing Health and Financial Wellness: Using Facilitated Discussion to Collect Input from Professionals

Determinants of health and financial security are complex. Individuals and families must often weigh decisions about their health against considerations of their financial resources, and vice-versa. Financial wellness and capability influence consumers’ health outcomes both directly and indirectly. This article documents a facilitated discussion at the 2018 Biennial Conference of Family Economics and Resource Management Association (FERMA) that bridged the domains of health and personal finance. Organizers summarized connections between health and financial stress, well-being, and wellness, and discussed definitions of health literacy and financial literacy. Attendees shared perspectives about how consumers’ financial wellness and capability influence their education and outreach activities and consumers’ health outcomes. They also worked together to create integrated models of health and financial wellness that could increase the number of Americans who are healthy and financially well at every stage of life. Insights will guide future scholarship focused on intersections of health and financial wellness

I Want A Daddy Who Will Rock Me To Sleep

https://digitalcommons.library.umaine.edu/mmb-vp/1698/thumbnail.jp

Sources of Referral in Student Financial Counseling

This study evaluates sources of referral to financial counseling and varied declines in financial stress across the financial counseling process. College students came to counseling most often through self-referral. Younger students and women were more likely to respond to institutional referrals. There were two clearly discernable periods of decline in financial stress, smaller interim declines occurring after requesting appointments and larger declines that occurred in counseling sessions. The interim declines, however, were only operative for those who were self- or institutionally-referred and not for those who entered on a social-referral. A possible explanation is that social-referrals have already had “someone to talk to” whereas other referrals may only begin to feel a psychological burden lifted after making an appointment. Total declines in financial stress were mostly impervious to individual differences and sources of referral lending support to the notion that financial counseling itself contributed to aggregate declines in financial stress

Financial Management and Marital Quality: A Phenomenological Inquiry

This study explores the link between couples’ financial management practices and their marital quality through qualitative inquiry. Six couples in their first marriage with at least one child age 18 or younger were interviewed to understand how the couples’ financial histories affect their current approach to financial management and how their financial management affects their relationships. Using Couples and Finances Theory as a conceptual framework, this phenomenological study investigates the connection between financial history, approach to financial management, and marital quality to offer implications for financial counselors and therapists. The ways couples manage their finances are diverse, as are the impacts on their relationships. Couples’ financial histories lead to diverse management processes influenced by financial stressors, communication, and shared values. Financial therapists and counselors should recognize that each person’s financial history affects the way they think about money, which can affect their ability to communicate about finances with a partner. Therapists can build on the experiences of couples reporting in this study to help alleviate financial stress, improve financial relationships, and ultimately enhance marital quality