Insurance and Incentives in Sharecropping

This essay surveys some recent empirical works about sharecropping. The basic theoretical trade-offs are discussed in the introduction. Section 1 discusses the empirical research on resource allocation. This section is divided in two subsections: one studying the effects of tenure stability on land improvements, and another comparing the impact of different share rates on input use and farm productivity. Section 2 surveys works testing different arguments raised to explain the design of tenancy contracts. The essay then concludes with a brief summary discussing some important policy implications.

The Origin of Radio Emission in Low-Luminosity Active Galactic Nuclei: Jets, Accretion Flows, or Both?

The low-luminosity active galactic nuclei in NGC 3147, NGC 4203, and NGC 4579 have been imaged at four frequencies with the Very Long Baseline Array. The galaxies are unresolved at all frequencies, with size upper limits of $10^3-10^4$ times the Schwarzschild radii of their central massive black holes. The spectral indices between 1.7 and 5.0 GHz range from 0.2 to 0.4; one and possibly two of the galaxies show spectral turnovers between 5.0 and 8.4 GHz. The high brightness temperatures ($> 10^9$ K) and relatively straight spectra imply that free-free emission and/or absorption cannot account for the slightly inverted spectra. Although the radio properties of the cores superficially resemble predictions for advection-dominated accretion flows, the radio luminosities are too high compared to the X-ray luminosities. We suggest that the bulk of the radio emission is generated by a compact radio jet, which may coexist with a low radiative efficiency accretion flow.Comment: To appear in ApJ (Letters). 4 page

On the smoothness of nonlinear system identification

We shed new light on the \textit{smoothness} of optimization problems arising in prediction error parameter estimation of linear and nonlinear systems. We show that for regions of the parameter space where the model is not contractive, the Lipschitz constant and $\beta$-smoothness of the objective function might blow up exponentially with the simulation length, making it hard to numerically find minima within those regions or, even, to escape from them. In addition to providing theoretical understanding of this problem, this paper also proposes the use of multiple shooting as a viable solution. The proposed method minimizes the error between a prediction model and the observed values. Rather than running the prediction model over the entire dataset, multiple shooting splits the data into smaller subsets and runs the prediction model over each subset, making the simulation length a design parameter and making it possible to solve problems that would be infeasible using a standard approach. The equivalence to the original problem is obtained by including constraints in the optimization. The new method is illustrated by estimating the parameters of nonlinear systems with chaotic or unstable behavior, as well as neural networks. We also present a comparative analysis of the proposed method with multi-step-ahead prediction error minimization

General Equilibrium with Endogenous Securities and Moral Hazard

This paper studies a class of general equilibrium economies in which the individuals' endowments depend on privately observed effort choices and the financial markets are endogenous. The environment is modeled as a two-stage game. Individuals first make strategic financial-innovation decisions. They then act in a Radner-type economy with the previously designed securities. Consumption goods, portfolios, and effort levels are chosen competitively (i.e., taking prices as given). An equilibrium concept is adapted for these moral hazard economies and its existence is proven. It is shown through an example how incentive motives might lead to the endogenous emergence of financial incompleteness.general equilibrium, moral hazard, endogenous incomplete markets, non-exclusive securities

3D simulations of Einstein's equations: symmetric hyperbolicity, live gauges and dynamic control of the constraints

We present three-dimensional simulations of Einstein equations implementing a symmetric hyperbolic system of equations with dynamical lapse. The numerical implementation makes use of techniques that guarantee linear numerical stability for the associated initial-boundary value problem. The code is first tested with a gauge wave solution, where rather larger amplitudes and for significantly longer times are obtained with respect to other state of the art implementations. Additionally, by minimizing a suitably defined energy for the constraints in terms of free constraint-functions in the formulation one can dynamically single out preferred values of these functions for the problem at hand. We apply the technique to fully three-dimensional simulations of a stationary black hole spacetime with excision of the singularity, considerably extending the lifetime of the simulations.Comment: 21 pages. To appear in PR

CCS and NH_3 Emission Associated with Low-Mass Young Stellar Objects

In this work we present a sensitive and systematic single-dish survey of CCS emission (complemented with ammonia observations) at 1 cm, toward a sample of low- and intermediate-mass young star-forming regions known to harbor water maser emission, made with NASA's 70 m antenna at Robledo de Chavela, Spain. Out of the 40 star-forming regions surveyed in the CCS (2_(1)-1_(0)) line, only six low-mass sources show CCS emission: one transitional object between the prestellar and protostellar Class 0 phase (GF9-2), three Class 0 protostars (L1448-IRS3, L1448C, and B1-IRS), a Class I source (L1251A), and a young T Tauri star (NGC 2071 North). Since CCS is considered an "early-time" (≲10^5 yr) molecule, we explain these results by either proposing a revision of the classification of the age of NGC 2071 North and L1251A, or suggesting the possibility that the particular physical conditions and processes of each source affect the destruction/production of the CCS. No statistically significant relationship was found between the presence of CCS and parameters of the molecular outflows and their driving sources. Nevertheless, we found a significant relationship between the detectability of CCS and the ammonia peak intensity (higher in regions with CCS), but not with its integrated intensity. This tendency may suggest that the narrower ammonia line widths in the less turbulent medium associated with younger cores may compensate for the differences in ammonia peak intensity, rendering differences in integrated intensity negligible. From the CCS detection rate we derive a lifetime of this molecule of ≃(0.7-3) × 10^4 yr in low-mass star-forming regions

No Hubble Bubble in the Local Universe

Zehavi et al. (1998) have suggested that the Hubble flow within 70/h Mpc may be accelerated by the existence of a void centered on the Local Group. Its underdensity would be ~20 %, which would result in a local Hubble distortion of about 6.5 %. We have combined the peculiar velocity data of two samples of clusters of galaxies, SCI and SCII, to investigate the amplitude of Hubble distortions to 200/h Mpc. Our results are not supportive of that conclusion. The amplitude of a possible distortion in the Hubble flow within 70/h Mpc in the SCI+SCII merged data is 0.010\pm0.022. The largest, and still quite marginal, geocentric deviation from smooth Hubble flow consistent with that data set is a shell with (Delta H)/H =0.027\pm0.023, centered at hd = 101 Mpc and extending over some 30/h Mpc. Our results are thus consistent with a Hubble flow that, on distances in excess of about 50/h Mpc, is remarkably smooth.Comment: 11 pages, 1 tables, 1 figure; uses AAS LaTex; to appear in ApJ Nov 9

Hurst Coefficient in long time series of population size: Model for two plant populations with different reproductive strategies

Can the fractal dimension of fluctuations in population size be used to estimate extinction risk? The problem with estimating this fractal dimension is that the lengths of the time series are usually too short for conclusive results. This study answered this question with long time series data obtained from an iterative competition model. This model produces competitive extinction at different perturbation intensities for two different germination strategies: germination of all seeds vs. dormancy in half the seeds. This provided long time series of 900 years and different extinction risks. The results support the hypothesis for the effectiveness of the Hurst coefficient for estimating extinction risk

A Radio Polarimetric Study of the Galactic Center Threads

Multi-frequency, polarimetric VLA observations of the non-thermal filaments (NTF's), G0.08+0.15, and G359.96+0.09, also known as the Northern and Southern Threads are presented at 20, 6, 3.6 and 2 cm, with high enough spatial resolution to be resolved for the first time at 6 and 3.6 cm. The 20 cm image reveals a wealth of new detail in the radio sources lying within the inner 60 pc of the Galaxy. The Southern Thread has a prominent split along its length, similar to splitting at the ends of previously studied NTF's. With resolutions as fine as 2'', the 3.6 and 6 cm images reveal a high degree of continuity and little substructure internal to the filament. The spectral index of the Northern Thread has been determined over a broad range of frequencies. Its flux density falls with frequency, alpha=-0.5 between 90 and 6 cm, and becomes much steeper (alpha=-2.0) between 6 and 2 cm. The spectral index does not vary significantly along the length of the Northern Thread, which implies either that the diffusion timescale for the emitting electrons is less than their synchrotron lifetime, or that the emitting electrons are reaccelerated continuously at multiple positions along the filament. Because of the lack of spectral index variation, we have not located the source of relativistic electrons. Polarization observations at 6 and 3.6 cm confirm the non-thermal nature of the emission from the Northern Thread. The fractional polarization in the Northern Thread reaches 70% in some regions, although the polarized emission is patchy. Large rotation measures (RM > 2000 rad/m2) have been observed with irregular variations across the filament.The intrinsic magnetic field in the Northern Thread is predominantly aligned along its long axis.Comment: 19 pages, incl. 24 figs; to appear in the Astrophysical Journa