Investment Decisions and Emissions Reductions : Results from Experiments in Emissions Trading

Emissions trading is an important regulatory tool in environmental policy making. Unfortunately the effectiveness of these regulations is difficult to measure in the field due to the unavailability of appropriate data. In contrast, experiments in the laboratory can provide guidance to regulators and legislatures about the performance of different market features in emission trading programs. This paper reports on the implementation of three different institutional designs, and presents experimental results investigating important features of emissions trading regimes: the ability to make investments in emissions abatement, ability to bank allowances and a declining emissions cap, both with and without uncertainty. These features are observed in virtually all existing air pollution emissions trading programs currently in place and will almost certainly be part of future applications. Like previous experimental studies of emissions trading, this paper shows that the efficiency gains expected from economic theory emerge observationally. We also show reduced efficiency when permits are bankable due to over-banking and when investments in emissions abatement are possible due to overinvesting. These tendencies do not worsen, however, when emissions caps decline.Emissions Trading, Investment in Abatement, Banking, Laboratory Experiments

Off with their heads: Terrorism and electoral support for capital punishment in Australia

Recent terrorist attacks such as the attacks on the World Trade Centre in September 2001 have generated new interest in the debate on capital punishment. It has been suggested that support for the death penalty could be higher in the wake of terrorist activity. Using data from the Australian Election Study we investigate voters' attitudes towards capital punishment. Paradoxically, overall support for the death penalty at the 2001 Federal election was lower than at previous elections. In this paper we utilise both simultaneous binary probit and treatment effects models to model the determinants of those attitudes and to investigate the impact of terrorism on support for the death penalty at the 2001 Federal election. In particular, we address the question of whether voters who felt terrorism was an important issue had higher levels of support for the death penalty than voters who did not feel that terrorism was importantsimultaneous binary probit, treatment effects models

Local Eigenvalue Density for General MANOVA Matrices

We consider random n\times n matrices of the form (XX*+YY*)^{-1/2}YY*(XX*+YY*)^{-1/2}, where X and Y have independent entries with zero mean and variance one. These matrices are the natural generalization of the Gaussian case, which are known as MANOVA matrices and which have joint eigenvalue density given by the third classical ensemble, the Jacobi ensemble. We show that, away from the spectral edge, the eigenvalue density converges to the limiting density of the Jacobi ensemble even on the shortest possible scales of order 1/n (up to \log n factors). This result is the analogue of the local Wigner semicircle law and the local Marchenko-Pastur law for general MANOVA matrices.Comment: Several small changes made to the tex

First-Order Vortex Lattice Melting and Magnetization of YBa2_2Cu3_3O$_{7-\delta}

We present the first non-mean-field calculation of the magnetization $M(T)$ of YBa$_2$Cu$_3$O$_{7-\delta}$ both above and below the flux-lattice melting temperature $T_m(H)$. The results are in good agreement with experiment as a function of transverse applied field $H$. The effects of fluctuations in both order parameter $\psi({\bf r})$ and magnetic induction $B$ are included in the Ginzburg-Landau free energy functional: $\psi({\bf r})$ fluctuates within the lowest Landau level in each layer, while $B$ fluctuates uniformly according to the appropriate Boltzmann factor. The second derivative $(\partial^2 M/\partial T^2)_H$ is predicted to be negative throughout the vortex liquid state and positive in the solid state. The discontinuities in entropy and magnetization at melting are calculated to be $\sim 0.034\, k_B$ per flux line per layer and $\sim 0.0014$~emu~cm$^{-3}$ at a field of 50 kOe.Comment: 11 pages, 4 PostScript figures in one uuencoded fil

The relationship between transformational leadership and customer-orientated boundary-spanning behaviours:examining the role of compassion

Customer-oriented boundary-spanning behaviours (COBSBs) are critical to the success of service organisations. Transformational leadership, with its emphasis on the social elements of the leader-subordinate dyad, is a likely antecedent to COBSBs. Similarly, the interpersonal nature of services suggests leader compassion could have a significant effect on the saliency of the relationship between transformational leadership and COBSBs. This paper reports on a study of the moderating effect of leader compassion on the relationship between transformational leadership and COBSBs (service delivery behaviours, internal influence and external representation). Transformational leadership and compassion both have significant and positive influences on COBSBs. However, compassion plays no moderating role. These findings are discussed and avenues for further research are proposed

Performance of LPG Storage Tanks on Ground Improved by Stone Columns

This paper describes the construction of four large tanks on poor soil conditions consisting of hydraulic fill placed over estuarine silt in Dublin port. The limited differential settlement that could be tolerated by the tanks required that they could not be placed on the existing ground. The optimum solution was found to be ground treatment using vibro-replacement with the formation of stone columns and compaction of the fill. The paper describes the design method used and the control tests. The predicted settlements are compared with settlement readings of the tanks following construction. These show that the chosen solution has performed well and satisfied the design requirements

Conditions for one-dimensional supersonic flow of quantum gases

One can use transsonic Bose-Einstein condensates of alkali atoms to establish the laboratory analog of the event horizon and to measure the acoustic version of Hawking radiation. We determine the conditions for supersonic flow and the Hawking temperature for realistic condensates on waveguides where an external potential plays the role of a supersonic nozzle. The transition to supersonic speed occurs at the potential maximum and the Hawking temperature is entirely determined by the curvature of the potential