Anatomy of a Governance Transformation: The Case of Daimler-Benz

Logue and Seward examine the evolutionary transformation in the corporate governance structure of Daimler-Benz AG, the largest German industrial company. Over the last several years, Daimler-Benz has taken numerous steps toward prioritizing shareholder value more intensely than ever before

The incidence of sanctions against U. S. employers of illegal aliens

Emigration and immigration ; Labor market

Rent Dissipation in Chartered Recreational Fishing: Inside the Black Box

A canvass of the resource economics literature of the last thirty years yields a limited number of applications of economic theory to the problems of recreational fishing, especially compared to the depth of contributions to commercial fisheries over this era. This neglect may be linked to the relatively short shrift given to the control of recreational fisheries (relative to commercial fisheries) by fisheries managers in the past. This asymmetry may be justified when recreational takes are sufficiently small to be negligible for the purposes of stock management. However, it has become increasingly clear that recreational mortality, far from being insignificant, is often comparable to or greater than the commercial mortality for many species (Coleman, et al., 2004). With fisheries managers scrambling to find solutions for the control of recreational mortality, economists have entered the policy arena promoting innovative rights-based policies that are grounded in the past successes of economic prescriptions for the management of commercial fisheries (Johnston, et al., 2007, Sutinen and Johnston, 2003). Despite the merits of these proposals, there remains a sense that findings from the commercial fishing experience may not be as immediately transferable to recreational settings as often imagined. In the first place, our understanding of the mechanisms of the rent dissipation process under open access is imperfect at best. Experience from the rationalization of commercial fisheries has yielded many surprises, with drastic behavioral changes occurring at unanticipated margins (Wilen, 2005). These experiences demonstrate the inadequacies of simple single-factor models in capturing the complexities of real-world rent dissipation. Second, while the recreational for-hire sector may seem similar to commercial fisheries operations in many ways, there are key differences that may limit our ability to readily transfer knowledge from commercial rationalization programs. These observations point toward the need for a more developed theoretical foundation in order to make sense of recreational fishery rationalization programs - such as those under consideration for the Gulf of Mexico - and their likely effects. As a step along this path, we develop a simple bioeconomic model of optimal and open access management for a for-hire recreational fishery. We restrict our attention to the for-hire sector for three reasons. First, charter and headboat trips are a substantial part of total fishing effort for many species and often contribute in a significant way to many coastal economies. Second, given the relative ease of observing fishing activities on for-hire vessels compared to solitary fishing trips, they are widely considered easier targets for regulation and are thus likely to be of some importance in recreational fisheries policy making over the near horizon. Finally, as we shall demonstrate, the interaction of consumer preferences with the supply behavior of vessel owners creates the potential for an array of fascinating distortions and feedbacks with great relevance for fisheries policy. Our model rests upon elements of the bioeconomic framework pioneered by McConnell and Sutinen (1979) and Anderson (1993). However, it extends their approach by incorporating a realistic and flexible theory of the choice of inputs of the for-hire fishing firm. This synthesis of traditional analytical bioeconomics with a production economics treatment of firm behavior is unique, both in commercial and recreational fisheries applications. Combining the supply and demand sides of the problem allows us to examine the long run distortions arising under open access in a manner that reflects feedbacks between angler preferences and the decisions of vessel owners. We find that open access conditions in charter fisheries lead to numerous distortions including excess investments in catch-augmenting inputs on vessels, excessive catch of target species and excessive entry of vessels (resulting in idle vessel capacity for a potentially substantial portion of the season). More subtle perverse incentives include the presence of too few anglers per vessel (due to incentives to reduce losses to catch rates due to congestion), possible underinvestment in valuable but non catch enhancing factor inputs and an incentive for anglers to land an excessive fraction of their catch to the detriment of the future stock. Many of these findings are reflective of recreational fisheries in the Gulf of Mexico and elsewhere. We then utilize our model to consider various options for the rationalization of chartered recreational fisheries. Interestingly, achieving the first best outcome requires a minimum of two policy instruments, a tax/quota on fishing mortality and a levy/quota on entry. The levy on entry is necessary to prevent new entry into a profitable fishery where all charter boat owners are fully employed leading to a situation of less than full employment of vessel capital and the inflation of industry-wide fixed costs. We discuss at length the problems of monitoring and enforcement for a system of tradable landings and discard quotas and discuss the merits of a single-quota system based on a single estimated mortality variable where both landings and discards are, to some degree, observable. Under this system, fishermen are able to exchange landings quota for discards at a prescribed relative mortality ratio. Vessels vie for certification into a discrete number of mortality classes (and thus discard/landings exchange ratios) based upon easily observed factors such as enforcement of quick catch and release behavior, use of gears with lower mortality characteristics and the employment of accepted post-catch techniques to enhance survival. Vessel owners would face positive incentives to achieve a high degree of certification because doing so would allow them to generate a greater number of landings for a given holding of mortality quota. This increases the effective number of anglers the vessel can serve with their holdings thus leading to an increase in the asset value of their quota - a gain they can capitalize on directly by serving more anglers or, indirectly, by selling their surplus quota.Resource /Energy Economics and Policy,

The incidence of sanctions against U.S. employers of illegal aliens

Immigration Reform and Control Act of 1986 ; Wages

Strategic Joint Production Under Common-Pool Output Quotas: The Case of Fisheries Bycatch

We develop a simple game-theoretic model to explain the production decisions of firms when the production of a marketed good is complementary with the output of an associated good for which no market is available and the output of both goods is regulated by exogenously determined common pool output quotas. This scenario matches that of many fisheries in which regulators attempt to simultaneously manage harvests of targeted species and bycatch of other species through common pool quotas and seasonal closures. Under a competitive equilibrium, individual fishermen fail to fully account for the external effects of their harvest decisions on the season length, leading to excessive discards, drastically shortened seasons, and large shares of un-harvested quota for all but the smallest of fishery sizes. These results are robust for even very efficient (low-bycatch) fishing gears. We examine the sensitivity of our predictions to changes in output prices, discard costs, quota allocations and differing degrees of spatial correlation of target and bycatch species. Finally, we derive the optimal bycatch penalty function and describe its significance in light of various policy alternatives available to regulators.Resource /Energy Economics and Policy,

Construction and Software Design for a Microcomputer Controlled pH/Ion Titrator

The construction of an automated titration device is described. The major components include an Apple II+ Microcomputer and 8-bit parallel interface. Fisher Accumet, Model 520 Digital pH/lon Meter, Gilmont Micrometer Buret of 2.5 mL capacity, Sigma stepper motor, power supply and driver to operate the buret, and a constant temperature bath of ± 0.005 °C stability. The limitations of the system are 0.001 pH/0.1 mv for the pH/ion sensing system, and 0.125 μL per step for the buret. The system as described is designed to determine equilibrium constants for metal ion-amino acid complexes. By changing the software a variety of different pH and redox titration experiments may be performed. A computer program used to operate the stepper motor driven syringe buret and record the pH from a digital pH meter is described. The program uses both Apple BASIC and assembly language. This is a closed loop operation in which the data from the pH meter is used to control the amount of reagent delivered by the buret. The results are displayed graphically as the titration proceeds. The variance of the pH readings are calculated using an assembly language subroutine and the calculations are done with zero round-off error

Sputtering yield measurements at glancing incidence using a quartz crystal microbalance

Low energy sputtering yields at grazing incidence have been investigated experimentally using a quartz crystal microbalance (QCM) technique. This method involved precoating the QCM with a thin film of the desired target material and relating the resonance frequency shift directly to mass loss during ion bombardment. A highly focused, low divergence ion beam provided a well defined incidence angle. Focusing most of the ion current on the center of the target allowed for higher sensitivity by taking into account the radial mass sensitivity of the QCM. Measurements of Mo, Cu, and W sputtering yields were taken for low energy (80–1000 eV) Xe+ and Ar+ to validate this experimental method. The target films ranged from 3.5 to 8.0 µm in thickness and were deposited so that their crystal structure and density would match those of the bulk material as closely as possible. These properties were characterized using a combination of scanning electron microscope imagery, profilometry, and x-ray diffraction. At normal incidence, the sputtering yields demonstrated satisfactory agreement with previously published work. At angles of incidence up to 40° off normal, the data agreed well with predictions from existing theoretical models. Sputtering yields were found to increase by a factor of 1.6 over this range. The optimum angle for sputtering occurred at 55°, after which the yields rapidly decreased. Measurements were taken up to 80° from the surface normal

Luminosity functions of Lyman-alpha emitters at z=6.5, and z=5.7: evidence against reionization at z=6

Lyman-alpha emission from galaxies should be suppressed completely or partially at redshifts beyond reionization. Without knowing the instrinsic properties of galaxies at z = 6.5, this attenuation is hard to infer in any one source, but can be infered from a comparison of luminosity functions of lyman-alpha emitters at redshifts just before and after reionization. We combine published surveys of widely varying depths and areas to construct luminosity functions at z=6.5 and 5.7, where the characteristic luminosity L_star and density phi_star are well constrained while the faint-end slope of the luminosity function is essentially unconstrained. Excellent consistency is seen in all but one published result. We then calculate the likelihood of obtaining the z=6.5 observations given the z=5.7 luminosity function with (A) no evolution and (B) an attenuation of a factor of three. Hypothesis (A) gives an acceptable likelihood while (B) does not. This indicates that the z=6.5 lyman-alpha lines are not strongly suppressed by a neutral intergalactic medium and that reionization was largely complete at z = 6.5.Comment: Submitted to Astrophysical Journal Letter

ARE CROP YIELDS NORMALLY DISTRIBUTED?

This paper revisits the issue of crop yield distributions using improved model specifications, estimation and testing procedures that address the methodological concerns raised in recent literature that could have invalidated previous conclusions of yield non-normality. It shows beyond reasonable doubt that some crop yield distributions are non-normal, kurtotic and right or left skewed, depending on the circumstances. A procedure to jointly estimate non-normal farm- and aggregate-level yield distributions with similar means but different variances is illustrated, and the consequences of incorrectly assuming yield normality are explored.Yield non-normality, probability distribution function models, Corn Belt yields, West Texas dryland cotton yields, Crop Production/Industries,

Differences in the Experience of Caregiving Between Spouse and Adult Child Caregivers in Dementia With Lewy Bodies.

Background and objectivesDementia caregiving has been associated with increased burden, depression, grief, a decreased sense of well-being and quality of life, and a weakening of social support. Little is known about the experience of caregiving in Dementia with Lewy Bodies (DLB). The present study examines differences in the caregiving experience of spouse versus adult child caregivers of individuals with DLB.Research design and methodsIn this cross-sectional analytic study of spouses (n = 255) and adult children (n = 160) caregivers of individuals with DLB, participants completed an online survey of burden, grief, depression, well-being, quality of life, and social support.ResultsAdult child caregivers were more likely to care for women (p < .001) and see the care recipient less often (p < .001) than spouses. Adult child caregivers reported lower quality of life (p < .001) and more caregiver burden (p < .009), but also greater social support (p < .001) than spouses. Between group analyses of caregiver type by disease severity demonstrated that spousal caregivers experience greater grief with advancing disease (p = .005), while adult child caregivers increase social support with advancing disease (p < .001).Discussion and implicationsSpouses and adult children experience DLB caregiving differently. This was explained by the younger age of the adult child caregiver, frequency of contact with the care recipient, and differences in the care recipient's characteristics, frequency of neuropsychiatric symptoms, and disease severity. DLB caregiver support for this population should target psychoeducation for complicated neuropsychiatric symptoms in the care recipient. Screening all DLB caregivers for burden, grief, and depression is suggested to identify those that may benefit most from intervention. Spouses specifically may benefit from interventions that target increasing social support, while adult child caregivers may benefit from interventions aimed at mitigating burden and improving quality of life