Intertemporal Equilibria with Knightian Uncertainty

We study a dynamic and infinite-dimensional model with Knightian uncertainty modeled by incomplete multiple prior preferences. In interior efficient allocations, agents share a common risk-adjusted prior and use the same subjective interest rate. Interior efficient allocations and equilibria coincide with those of economies with subjective expected utility and priors from the agents' multiple prior sets. We show that the set of equilibria with inertia contains the equilibria of the economy with variational preferences anchored at the initial endowments. A case study in an economy without aggregate uncertainty shows that risk is fully insured, while uncertainty can remain fully uninsured. Pessimistic agents with Gilboa-Schmeidler's max-min preferences would fully insure risk and uncertainty.Knightian Uncertainty, Ambiguity, Incomplete Preferences, General Equilibrium Theory, No Trade

Diversity in Central Asia: Culture, transition & entrepreneurship

With the demise of the USSR in 1991, five new countries became independent in Central Asia. This study presents an overview about transition, emergence and nature of entrepreneurship in a world’s region that displays amongst the most important energy resources in gas and oil

Measuring the impact of computer resource quality on the software development process and product

The availability and quality of computer resources during the software development process was speculated to have measurable, significant impact on the efficiency of the development process and the quality of the resulting product. Environment components such as the types of tools, machine responsiveness, and quantity of direct access storage may play a major role in the effort to produce the product and in its subsequent quality as measured by factors such as reliability and ease of maintenance. During the past six years, the NASA Goddard Space Flight Center has conducted experiments with software projects in an attempt to better understand the impact of software development methodologies, environments, and general technologies on the software process and product. Data was extracted and examined from nearly 50 software development projects. All were related to support of satellite flight dynamics ground-based computations. The relationship between computer resources and the software development process and product as exemplified by the subject NASA data was examined. Based upon the results, a number of computer resource-related implications are provided

Paper Session III-A - The Role of Simulation in Space Operations Training

The mission of space operations has dramatically increased over the past decade. Increased responsibilities in the major areas of missile warning, space surveillance, satellite operations, and launch operations have diriven the need for precise training of people working in these areas. To accomplish this training, the use of computer simulation is taking on a much larger and increasingly more important role. The goal of any type of computer simulation is to emulate operational equipment and procedures. Exact duplication of the operational environment, equipment, and software to include known glitches is known as 100 percent fidelity and is a difficult goal to achieve. While such an effort is technically realizable, current and more realistic expectations are usually to achieve I 80-95 percent of system fidelity. This is defined as high | fidelity simulation

Innovation Hub als Nukleus regionaler Entwicklung

Das Konzept des Innovation Hubs aufgreifend wird im folgenden Beitrag der Frage nachgegangen, ob sich Innovation Hubs auch außerhalb von Stadtzentren entwickeln können und welche Voraussetzungen hierfür erforderlich sind. Basierend auf empirischen Untersuchungen wird diskutiert, ob geeignete Bedingungen für die Entwicklung eines Innovation Hubs im regionalen Wachstumskern Schönefelder Kreuz gegeben sind, und mittels Szenarien antizipiert wie diese Standortbedingungen in einem zukünftigen Innovation Hub ausgeprägt sein könnten

Construction and functional analysis of hybrid interleukin-6 variants Characterization of the role of the C-terminus for species specificity

AbstractWe have constructed several hybrid human interleukin-6 (IL-6) variants in which the carboxyl-terminus, which includes a receptor binding site of IL-6 has been replaced with the C-terminus of various proteins homologous to human IL-6, IL-6 hybrids with the C-terminus of human growth hormone and human granulocyte-colony stimulating factor maintain part of the biological activity of human IL-6. Replacing the C-terminus of human IL-6 with the C-terminus of mouse and rat IL-6 resulted in a normal or increased activity on a mouse cell line; however, this gave a low (to 200-fold less) activity on a human cell line compared to wild-type human IL-6. We therefore conclude that the C-terminus of IL-6 plays in important role in the species specificity of IL-6

Under Pressure: How fines and fees hurt people, undermine public safety, and drive Alabamas racial wealth divide

Each year, Alabama's municipal, district, and circuit courts assess millions of dollars in court costs, fines, fees, and restitution. Most of this money is sent to the state General Fund, government agencies, county and municipal funds, and used to finance pet projects.This hidden tax is disproportionately borne by poor people – particularly by poor people of color. In Alabama, African Americans are arrested, prosecuted, and convicted at higher rates than white people. For example, while African Americans and white people use marijuana at roughly the same rate, African Americans are over four times as likely to be arrested for marijuana possession in Alabama. This report is an eort to examine, in detail, the collateral consequences of Alabama's court debt system and explore the ways in which it undermines public safety and drives the state's racial wealth divide. It is a product of our work with the Annie E. Casey Foundation's Southern Partnership to Reduce Debt, which is developing strategies to lessen the impact of criminal and civil judicial fines and fees, as well as medical fees and high-cost consumer products, on communities of color.We surveyed 980 Alabamians about their experience with court debt, asking how court costs, fines, and fees had affected their daily lives. Study participants included 879 "justice-involved" individuals who were paying their own court debt for offenses ranging from traffic violations to felonies, and 101 people who did not themselves owe court debt but were paying debt for other people. We analyzed results for the two groups separately and conducted a further analysis of the 810 justice-involved individuals who had also helped others pay off their debt

Data Note: Employment Rates for People With and Without Disabilities

Data show that people with disabilities are consistently less likely to be working than their non-disabled counterparts. In this data note, we compare the employment rate for working-age people with and without disabilities

Data Note: The Relationship Between Supported Employment Status and Minimum Wage for Vocational Rehabilitation Integrated Employment Closures in 2004

Some VR customers earn less than minimum wage despite being closed successfully, i.e., exiting Vocational Rehabilitation (VR) services into an integrated employment setting. Section 14(c) of the Fair Labor Standards Act allows employers to pay less than the minimum wage to a person whose disability impairs their capacity to be productive at a particular job. People in supported employment are more likely to have a disability that makes them eligible for Section 14(c) minimum wage exemption. How do wages for customers in supported employment compare to those earned by other customers