Tournament Sequences and Meeussen Sequences

A "tournament sequence" is an increasing sequence of positive integers (t_1,t_2,...) such that t_1=1 and t_{i+1} <= 2 t_i. A "Meeussen sequence" is an increasing sequence of positive integers (m_1,m_2,...) such that m_1=1, every nonnegative integer is the sum of a subset of the {m_i}, and each integer m_i-1 is the sum of a unique such subset. We show that these two properties are isomorphic. That is, we present a bijection between tournament and Meeussen sequences which respects the natural tree structure on each set. We also present an efficient technique for counting the number of tournament sequences of length n, and discuss the asymptotic growth of this number. The counting technique we introduce is suitable for application to other well-behaved counting problems of the same sort where a closed form or generating function cannot be found.Comment: 16 pages, 1 figure. Minor changes only; final version as published in EJ

Soluplus solutions as thermothickening materials for topical drug delivery.

Soluplus is a pharmaceutical excipient used primarily in the manufacture of solid dispersions. The polymer also exhibits interesting rheology in aqueous solution, increasing in viscosity as the solution is warmed. This material could have application topical drug delivery to sites including the skin, vagina, rectum or nasal mucosa, where the increase in viscosity allows for improved retention. However, there exists very little information surrounding this “thermothickening” phenomenon and the effect of solution composition on temperature-dependent rheology. In this study, the effect of soluplus concentration, salt inclusion, ethanol addition, and pH on temperature-dependent rheology was measured. The rheology of the solutions was unaffected by pH over the range tolerated by the skin (pH 4–7), but the inclusion of ethanol rapidly negated the thermothickening effect. “Salting out” of the solutions resulted in a depression of gelation temperatures, and an increase in both storage and loss moduli of the solutions. 30% (w/v) soluplus in 1 M NaCl or KCl was identified as a potential thermothickening agent for topical drug delivery.Peer reviewe

The Internal Organization of the Cooperative Firm: An Extension of a New Institutional Digest

Agribusiness,

Sharing the burden: monetary and fiscal responses to a world liquidity trap

With integrated trade and financial markets, a collapse in aggregate demand in a large country can cause "natural real interest rates" to fall below zero in all countries, giving rise to a global "liquidity trap." This paper explores the optimal policy response to this type of shock, when governments cooperate on both fiscal and monetary policy. Adjusting to a large negative demand shock requires raising world aggregate demand, as well as redirecting demand towards the source (home) country. ; The key feature of demand shocks in a liquidity trap is that relative prices respond perversely. A negative shock causes an appreciation of the home terms of trade, exacerbating the slump in the home country. At the zero bound, the home country cannot counter this shock. Because of this, it may be optimal for the foreign policymaker to raise interest rates. ; Strikingly, the foreign country may choose to have a positive policy interest rate, even though its natural real interest rate is below zero. A combination of relatively tight monetary policy in the foreign country combined with substantial fiscal expansion in the home country achieves the desired mix in terms of the level and composition of world expenditure. Thus, in response to conditions generating a global liquidity trap, there is a critical mutual interaction between monetary and fiscal policy.Monetary policy ; Fiscal policy ; Interest rates

A Primer On Collective Entrepreneurship: A Preliminary Taxonomy

We document an increasing prevalence of the term ―collective entrepreneurship‖ in scholarly research. By examining the context in which the term is utilized, we present a framework through which to understand motivations for research in collective entrepreneurship and the variety of entrepreneurial endeavors described as collective entrepreneurship. We identify five primary motivations for research: advancement of theory, intra-organizational efficiency, inter-organizational gains, economic growth and development, and socio-political change. We find preliminary evidence collective entrepreneurs may be able to generate rents inaccessible to the sole entrepreneur. In addition, we propose mechanisms which foster entrepreneurship may differ for sole and collective entrepreneurs.International Relations/Trade,

TESTING FOR THE PRESENCE OF FINANCIAL CONSTRAINTS IN U.S.

It is commonly argued in the literature that agricultural cooperatives are financially constrained because they are unable to acquire sufficient risk capital to invest in productive assets. This study examines whether agricultural cooperatives' investment is constrained by estimating neoclassical and cash flow augmented Q investment models. Panel data regression results suggest that cooperative physical capital investment responds positively and significantly to both the marginal profitability of capital and cash flow. Results also indicate that all cooperative sub-samples face binding financial constraints when making investment decisions, but some cooperatives appear to be less financially constrained than others. The empirical analysis of the cooperative financial constraint hypothesis suggests that eliminating restrictions on residual claims might be a necessary condition for the attenuation of capital constraints in agricultural cooperatives.Agribusiness,

Lessons from Community Entrepreneurship: The Concept of Spawning

Capital-constrained cooperatives are being challenged by producer-members to provide vertical integration opportunities. We find evidence producer groups are utilizing an investment strategy described as spawning. Producer-investors familiar with a particular organizational form and who have developed joint investment networks were more apt to invest in newly spawned ventures.Spawning, Collective Entrepreneurship, Cooperative Development, Community/Rural/Urban Development,

AGRIBUSINESS IN A GLOBAL ECONOMY: CHALLENGES FOR AN EVOLVING PROFESSION

Agribusiness,

The Role of Management Behavior in Agricultural Cooperatives

Mintzburg’s managerial working role model is used to explore the ways roles and behavior of the general manager of a user-oriented firm differ from those of the manager of an investor-owned firm (IOF). It is argued that, in the roles of conflict resolution, resource allocation, information spokesperson, and leadership, the challenges of a user-oriented manager are not only significantly different but often more difficult. It is concluded that managers comfortable with complexity; technical-operation, people-oriented resource allocation; multi-stakeholder communication; and with strong coalition- building skills are most successful in user-oriented organizations.Agribusiness,