Toward an Understanding of the Economics of Charity: Evidence from a Field Experiment

This study develops theory and uses a door-to-door fundraising field experiment to explore the economics of charity. We approached nearly 5000 households, randomly divided into four experimental treatments, to shed light on key issues on the demand side of charitable fundraising. Empirical results are in line with our theory: in gross terms, our lottery treatments raised considerably more money than our voluntary contributions treatments. Interestingly, we find that a one standard deviation increase in female solicitor physical attractiveness is similar to that of the lottery incentive¡ªthe magnitude of the estimated difference in gifts is roughly equivalent to the treatment effect of moving from our theoretically most attractive approach (lotteries) to our least attractive approach (voluntary contributions).

: Bringing a novel research into the classroom: Carbon sequestration as a new opportunity for science education

This poster was presented at the 41st Annual Conference of the Hoosier Association of Science Teachers, Inc. (HASTI), Indianapolis, Ind., February 9-11, 2011.Carbon sequestration technology is an emerging area of research that is rarely presented in the current middle and high school curriculum. This poster complements a concurrent lecture at HASTI (Kevin Ellet and Cristian Medina) and presents three objectives: (1) to introduce the topic of carbon sequestration as a promising area of research for the mitigation of global warming; (2) to show how this technology draws from different science disciplines (e.g. earth science, physics, chemistry, and mathematics) and thus offers new opportunities for science education; (3) to present skills study can learn by studying this technology, such as the use and display of quantitative data and the use of online resources to perform literature searches. This poster presents issues raised in the HASTI position paper “Science Institutions in Indiana: Global Perspectives” (http://www.hasti.org/paper1.html) and encourages discussion on how to maximize science learning in Indiana classrooms

Can Soft Regulation Prevent Financial Crises?: The Dutch Central Bank\u27s Supervision of Behavior and Culture

Financial regulation has traditionally been hard : national legislatures and regulators (and sometimes international bodies) require certain kinds of behavior and forbid others, on pain of business sanctions, fines, or even criminal penalties. When a financial crisis happens, the usual after-the-fact response is more hard regulation-new laws, stricter regulations, and often entirely new regulatory agencies.That pattern goes back at least to the 1929 market crash that precipitated the Great Depression. But the fact that financial crises still occur is leading many observers to wonder if more hard regulation is the best way to prevent the next one. However elaborate the regulatory structure, there always seem to be people in the industry willing to take the risk of getting caught to benefit themselves and their institutions. There is a growing body of opinion that what the financial world needs is a way to identify those pathological risktakers in advance and, perhaps more importantly, to make sure that the financial institutions that employ them discover and control them. Such an approach to financial governance might be characterized as soft supervision: rather than relying on prescribing, proscribing, and punishing specific actions, it would focus on education and persuasion (still backed up by the threat of sanctions) to encourage financial institutions to head off excessive risk-taking before it occurs. In this Article, we report on an in-depth study of the first major effort to put this theory into practice: De Nederlansche Bank\u27s (DNB; the central bank of the Netherlands) novel initiative to promote a healthy corporate culture in the large banks that it supervises. Despite its radical originality, this initiative has been almost entirely unreported in the U.S. legal and business literatures. As with all central banks, DNB\u27s traditional mandate has been to ensure the stability and integrity of the national financial system by promulgating and enforcing regulations and supervising individual banks. The financial crisis of 2007-2008 prompted DNB to reassess the adequacy of that model. In response, it has expanded its supervision to include the evaluation of both individual behavior and group-level culture- Behaviour & Culture (B&C) -supervision. We have investigated the history and theoretical roots of B&C supervision; interviewed a large number of participants, both regulators and regulated, to understand their practical perspectives; explored the connections between B&C supervision and relevant themes in law and the social sciences; and considered the implications of B&C supervision for banking regulation elsewhere. We conclude that, while the response to B&C supervision has been generally positive, the tangible effect of its supervision remains unproven. Moreover, its relative positive reception may depend on the specific business culture of the Netherlands, which casts doubt on whether it can be exported to larger banking systems

Can Soft Regulation Prevent Financial Crises?: The Dutch Central Bank\u27s Supervision of Behavior and Culture

Financial regulation has traditionally been hard : national legislatures and regulators (and sometimes international bodies) require certain kinds of behavior and forbid others, on pain of business sanctions, fines, or even criminal penalties. When a financial crisis happens, the usual after-the-fact response is more hard regulation-new laws, stricter regulations, and often entirely new regulatory agencies.That pattern goes back at least to the 1929 market crash that precipitated the Great Depression. But the fact that financial crises still occur is leading many observers to wonder if more hard regulation is the best way to prevent the next one. However elaborate the regulatory structure, there always seem to be people in the industry willing to take the risk of getting caught to benefit themselves and their institutions. There is a growing body of opinion that what the financial world needs is a way to identify those pathological risktakers in advance and, perhaps more importantly, to make sure that the financial institutions that employ them discover and control them. Such an approach to financial governance might be characterized as soft supervision: rather than relying on prescribing, proscribing, and punishing specific actions, it would focus on education and persuasion (still backed up by the threat of sanctions) to encourage financial institutions to head off excessive risk-taking before it occurs. In this Article, we report on an in-depth study of the first major effort to put this theory into practice: De Nederlansche Bank\u27s (DNB; the central bank of the Netherlands) novel initiative to promote a healthy corporate culture in the large banks that it supervises. Despite its radical originality, this initiative has been almost entirely unreported in the U.S. legal and business literatures. As with all central banks, DNB\u27s traditional mandate has been to ensure the stability and integrity of the national financial system by promulgating and enforcing regulations and supervising individual banks. The financial crisis of 2007-2008 prompted DNB to reassess the adequacy of that model. In response, it has expanded its supervision to include the evaluation of both individual behavior and group-level culture- Behaviour & Culture (B&C) -supervision. We have investigated the history and theoretical roots of B&C supervision; interviewed a large number of participants, both regulators and regulated, to understand their practical perspectives; explored the connections between B&C supervision and relevant themes in law and the social sciences; and considered the implications of B&C supervision for banking regulation elsewhere. We conclude that, while the response to B&C supervision has been generally positive, the tangible effect of its supervision remains unproven. Moreover, its relative positive reception may depend on the specific business culture of the Netherlands, which casts doubt on whether it can be exported to larger banking systems

Orbital-free Bond Breaking via Machine Learning

Machine learning is used to approximate the kinetic energy of one dimensional diatomics as a functional of the electron density. The functional can accurately dissociate a diatomic, and can be systematically improved with training. Highly accurate self-consistent densities and molecular forces are found, indicating the possibility for ab-initio molecular dynamics simulations

On the Importance of Strengthening Moderate Beliefs in Climate Science to Foster Support for Immediate Action

This is the publisher's version, also available electronically from "http://www.mdpi.com".Whereas many studies focus on climate skeptics to explain the lack of support for immediate action on climate change, this research examines the effect of moderate believers in climate science. Using data from a representative survey of 832 Indiana residents, we find that agreement with basic scientific conclusions about climate change is the strongest predictor of support for immediate action, and the strength of that agreement is an important characteristic of this association. Responses indicate widespread acceptance of climate change, moderate levels of risk perception, and limited support for immediate action. Half of the respondents (50%) preferred “more research” over “immediate action” (38%) and “no action” (12%) as a response to climate change. The probability of preferring immediate action is close to zero for those who strongly or somewhat disbelieve in climate change, but as belief in climate change grows from moderate to strong, the probability of preferring immediate action increases substantially; the strongest believers have a predicted probability of preferring immediate action of 71%. These findings suggest that, instead of simply engaging skeptics, increasing public support for immediate action might entail motivating those with moderate beliefs in climate change to hold their views with greater conviction

Runx-dependent expression of PKC is critical for cell survival in the sea urchin embryo

BACKGROUND: Runx transcription factors play critical roles in the developmental control of cell fate and contribute variously as oncoproteins and tumor suppressors to leukemia and other cancers. To discover fundamental Runx functions in the cell biology of animal development, we have employed morpholino antisense-mediated knockdown of the sea urchin Runx protein SpRunt-1. Previously we showed that embryos depleted of SpRunt-1 arrest development at early gastrula stage and underexpress the conventional protein kinase C SpPKC1. RESULTS: We report here that SpRunt-1 deficiency leads to ectopic cell proliferation and extensive apoptosis. Suppression of the apoptosis by pharmacological inhibition of caspase-3 prevents the ectopic proliferation and rescues gastrulation, indicating that many of the overt defects obtained by knockdown of SpRunt-1 are secondary to the apoptosis. Inhibition or knockdown of SpPKC1 also causes apoptosis, while cell survival is rescued in SpRunt-1 morphant embryos coinjected with SpPKC1 mRNA, suggesting that the apoptosis associated with SpRunt-1 deficiency is caused by the deficit in SpPKC1 expression. Chromatin immunoprecipitation indicates that SpRunt-1 interacts physically with SpPKC1 in vivo, and cis-regulatory analysis shows that this interaction activates SpPKC1 transcription. CONCLUSIONS: Our results show that Runx-dependent activation of SpPKC1 is essential for maintaining protein kinase C activity at levels conducive to cell survival during embryogenesis

Depth Relationships in Porosity and Permeability in the Mount Simon Sandstone (Basal Sand) of the Midwest Region: Applications for Carbon Sequestration

This poster was presented at the 2008 Annual Meeting of the American Association of Petroleum Geologists (AAPG) and the Society of Petroleum Engineers (SPE), held in Pittsburgh, Pennsylvania, from October 11-15, 2008.Porosity and permeability values collected from core analyses in the Upper Cambrian Mount Simon sandstone indicate a predictable relationship with depth owing to diagenetic changes in the pore structure. This predictive relationship is useful for evaluating the geological carbon sequestration capacity in the Midwestern region. Porosity logs from wells in the study area provide additional sources of petrophysical data. The regional trend of decreasing porosity with depth is described by the equation: φ(d) = 16.36 * e-0.00012*d (r2=0.41), where φ equals porosity and d is depth in feet. The correlation between burial depth and porosity can help predict the petrophysical character of the Mount Simon sandstone in more deeply buried and largely undrilled portions of the basin. Understanding the relationship among porosity, permeability, and depth also provides information for use in numerical models that simulate supercritical carbon dioxide flow within the Mount Simon sandstone. The decrease of porosity and permeability with depth generally holds true on a basinwide scale. However, localized stratigraphic and spatial variations in sedimentary facies also affect reservoir quality. In some areas, we observed a reversal in the porosity/depth relationship. Careful documentation of the mineralogical and sedimentological characteristics of the reservoir are critical to the successful prediction of the petrophysical attributes of deep saline aquifer systems and how they perform at a given locality

The Hidden Benefits of Control: Evidence from a Natural Field Experiment

An important dialogue between theorists and experimentalists over the past few decades has raised the study of the interaction of psychological and economic incentives from academic curiosity to a bona fide academic field. One recent area of study within this genre that has sparked interest and debate revolves around the “hidden costs” of conditional incentives. This study overlays randomization on a naturally-occurring environment in a series of temporally-linked field experiments to advance our understanding of the economics of charity and test if such “costs” exist in the field. This approach permits us to examine why people initially give to charities, and what factors keep them committed to the cause. Several key findings emerge. First, there are hidden benefits of conditional incentives that would have gone undetected had we maintained a static theory and an experimental design that focused on short run substitution effects rather than dynamic interactions. Second, we can reject the pure altruism model of giving. Third, we find that public good provision is maximized in both the short and long run by using conditional, rather than unconditional, incentives.