Present net worth and internal rate of return: A note on equivalence in use

Present net worth and internal rate of return are frequently used for ranking investment alternatives. The relative merits and limitations of the two criteria are discussed at length in numerous journal articles and texts. For analysts wishing to present consistent project comparisons, the issue is not which criterion is superior, but when are they equivalent. In this article, conditions for equivalence in use are outlined under alternative assumptions. Although the conditions appear complex, they are not unduly restrictive

Non-user benefits emanating from enhanced water flow to the Yala Protected Area Complex

Water is a multiple use resource. Increasing scarcity and competition from various sectors is an important dimension to be considered in its management. Understanding the value of water to different water uses is, therefore, necessary to assist decision-making in water allocation among sectors. Although water used in agriculture can be valued using production function approaches, such direct valuation methods are not available for the environmental uses of water. This paper uses non-market valuation methods to estimate the economic value of a committed flow through a unique ecosystem, the Yala Protected Area Complex (YPC). The Yala Protected Area Complex is an important wildlife refuge situated in south-eastern Sri Lanka. Its large land extent, undisturbed nature, and abundance and diversity of fauna contribute to its uniqueness. The fact that the YPC is also the most visited national park in Sri Lanka is partially a result of this uniqueness. However, maintenance of the park’s ecosystem depends on the flow of the Menik Ganga. This flow is regulated by the Veheragala Reservoir Project, and there is now discussion of reducing flow into the park by about half of the current level. The proposed plan ensures dry season flow into the YPC and, therefore, has been deemed acceptable. However, there is a possibility that farmers will demand further water releases during the dry season which could in turn endanger the planned downstream water releases. So there is a potential trade-off between environmental and irrigation uses of water. A willingness to pay (WTP) survey was conducted in ten districts in Sri Lanka during the fourth quarter of 2008 to estimate the WTP of the general population of the country towards maintaining this important environmental resource. In the hypothetical market presented, participants were told of the need for financial contributions from the general public to ensure the release of a minimum downstream flow commitment of 50 MCM. Participants were also informed of how this flow would enhance the ecosystem of the YPC. A single bound dichotomous choice contingent valuation approach was used as the elicitation format. Nonobligatory voluntary contributions were solicited towards a trust fund that could be used to ensure release of the required quantity of water downstream during dry months. According to the results of a binary logistic regression, income, age, and religious attachments are important factors affecting the decision to contribute to environmental flow maintenance to the YPC. Sixty-five percent of respondents were willing to pay something to ensure the maintenance of an adequate environmental flow in the YPC. The estimated mean WTP for water releases to enhance the YPC is Sri Lankan Rupees (SLR) 435 per year. Over the requested payment horizon of 10 years, the present value of aggregate WTP from the Sri Lankan population to enhance the ecosystem of the YPC is SLR 12 billion. This quantity greatly surpasses the present value of net benefits from rice farming estimated at SLR 0.64 billion, which would be generated if the same quantity of water was used for irrigation for 10 years (assuming current prices and input intensities). Thus, there is a clear opportunity for national welfare gain by ensuring adequate flow in YPC.Length: pp.37-47Water useMultiple useWildlifeHabitatsEcosystemsIrrigation waterWater allocation

Non-user benefits emanating from enhanced water flow to Yala Protected Area Complex. Abstract only

EcosystemsWater resource managementMultiple useDecision makingWater allocationEnvironmental flows

Use and Effectiveness of Washington State's Extension Forest Stewardship Program

This paper describes the use by family forest landowners of educational programs provided by Washington State University Cooperative Extension (WSUCE), and the associated use of technical assistance programs provided by state and federal agencies and the private sector. Approximately 100,000 family forest owners controlled 19% or over 1.2 M ha of Washington's forestland and accounted for 29% of the timber harvested in the state on a volume basis in 1998. A variety of public and private assistance and education programs are available to encourage and help family forest owners manage their forests. In 1999 a mail survey was conducted to evaluate use and effectiveness of Washington's family forest assistance and education programs. Over half of the 872 responding family forest landowners had contact with an extension educator, program or educational material, and about three quarters of these respondents gave an overall rating of the usefulness of extension programs and materials as good or excellent. Respondents attending WSUCE forestry educational programs have larger median land ownership size, are older, have owned their forests longer, have a higher rate of absentee ownership, and are better educated than non-users. They are more likely to actively manage their forests for timber production and exhibit a clearer understanding of the multiple-use capabilities of their forests

Ecosystem Management and Nonindustrial Private Forest Landowners in Washington State, USA

Washington's non-industrial private forest (NIPF) landowners control 1.2 M ha, or nearly 20%, of the forestland in Washington State. Results of a mail survey suggest that educated and informed NIPF landowners are more likely to show interest in ecosystem-based management programs. NIPF respondents in Washington State indicated an appreciation for the temporal vision and landscape perspective crucial to understanding the foundation of ecosystem management. It is concluded that public agencies need to involve private landowners in ecosystem-based projects by using a more 'place'-based cross-boundary management approach. NIPF landowners must be actively involved in the decision-making so that the process, for them, is one of self-governance. Providing landowners with opportunities for education and assistance may offer the best prospects for achieving ecosystem management objectives across diverse ownerships

A 2-Dose AERAS-402 Regimen Boosts CD8+ Polyfunctionality in HIV-Negative, BCG-Vaccinated Recipients

Despite the widespread use of BCG, tuberculosis (TB) remains a global threat. Existing vaccine candidates in clinical trials are designed to replace or boost BCG which does not provide satisfying long-term protection. AERAS-402 is a replication-deficient Ad35 vaccine encoding a fusion protein of the M. tuberculosis (Mtb) antigens 85A, 85B, and TB10.4. The present phase I trial assessed the safety and immunogenicity of AERAS-402 in participants living in India – a highly TB-endemic area. Healthy male participants aged 18–45 years with a negative QuantiFERON-TB Gold in-tube test (QFT) were recruited. Enrolled participants (n=12) were randomized 2:1 to receive two intramuscular injections of either AERAS-402 (3 x 1010 viral particles [vp]); (n=8) or placebo (n=4) on study days 0 and 28. Safety and immunogenicity parameters were evaluated for up to 182 days post the second injection. Immunogenicity was assessed by a flow cytometry-based intracellular cytokine staining (ICS) assay and transcriptional profiling. The latter was examined using dual-color-Reverse-Transcriptase-Multiplex-Ligation-dependent-Probe-Amplification (dc-RT MLPA) assay. AERAS-402 was well tolerated, and no vaccine-related serious adverse events were recorded. The vaccine-induced CD8+ T-cell responses were dominated by cells co-expressing IFN-γ, TNF-α, and IL-2 (“polyfunctional” cells) and were more robust than CD4+ T-cell responses. Five genes (CXCL10, GNLY, IFI35, IL1B and PTPRCv2) were differentially expressed between the AERAS-402-group and the placebo group, suggesting vaccine-induced responses. Further, compared to pre-vaccination, three genes (CLEC7A, PTPRCv1 and TAGAP) were consistently up-regulated following two doses of vaccination in the AERAS-402-group. No safety concerns were observed for AERAS-402 in healthy Indian adult males. The vaccine-induced predominantly polyfunctional CD8+ T cells in response to Ag85B, humoral immunity, and altered gene expression profiles in peripheral blood mononuclear cells (PBMCs) indicative of activation of various immunologically relevant biological pathways.publishedVersio

Plasma Membrane Is the Site of Productive HIV-1 Particle Assembly

Recently proposed models that have gained wide acceptance posit that HIV-1 virion morphogenesis is initiated by targeting the major structural protein (Gag) to late endosomal membranes. Thereafter, late endosome-based secretory pathways are thought to deliver Gag or assembled virions to the plasma membrane (PM) and extracellular milieu. We present several findings that are inconsistent with this model. Specifically, we demonstrate that HIV-1 Gag is delivered to the PM, and virions are efficiently released into the extracellular medium, when late endosome motility is abolished. Furthermore, we show that HIV-1 virions are efficiently released when assembly is rationally targeted to the PM, but not when targeted to late endosomes. Recently synthesized Gag first accumulates and assembles at the PM, but a proportion is subsequently internalized via endocytosis or phagocytosis, thus accounting for observations of endosomal localization. We conclude that HIV-1 assembly is initiated and completed at the PM, and not at endosomal membranes

Identification and structural characterization of FYVE domain-containing proteins of Arabidopsis thaliana

<p>Abstract</p> <p>Background</p> <p>FYVE domains have emerged as membrane-targeting domains highly specific for phosphatidylinositol 3-phosphate (PtdIns(3)<it>P</it>). They are predominantly found in proteins involved in various trafficking pathways. Although FYVE domains may function as individual modules, dimers or in partnership with other proteins, structurally, all FYVE domains share a fold comprising two small characteristic double-stranded β-sheets, and a C-terminal α-helix, which houses eight conserved Zn²⁺ion-binding cysteines. To date, the structural, biochemical, and biophysical mechanisms for subcellular targeting of FYVE domains for proteins from various model organisms have been worked out but plant FYVE domains remain noticeably under-investigated.</p> <p>Results</p> <p>We carried out an extensive examination of all <it>Arabidopsis </it>FYVE domains, including their identification, classification, molecular modeling and biophysical characterization using computational approaches. Our classification of fifteen <it>Arabidopsis </it>FYVE proteins at the outset reveals unique domain architectures for FYVE containing proteins, which are not paralleled in other organisms. Detailed sequence analysis and biophysical characterization of the structural models are used to predict membrane interaction mechanisms previously described for other FYVE domains and their subtle variations as well as novel mechanisms that seem to be specific to plants.</p> <p>Conclusions</p> <p>Our study contributes to the understanding of the molecular basis of FYVE-based membrane targeting in plants on a genomic scale. The results show that FYVE domain containing proteins in plants have evolved to incorporate significant differences from those in other organisms implying that they play a unique role in plant signaling pathways and/or play similar/parallel roles in signaling to other organisms but use different protein players/signaling mechanisms.</p