Bargaining on your spouse : Coasean and non-Coasean behaviour within marriage

Publisher PD

Insertion Heuristics for Central Cycle Problems

A central cycle problem requires a cycle that is reasonably short and keeps a the maximum distance from any node not on the cycle to its nearest node on the cycle reasonably low. The objective may be to minimise maximumdistance or cycle length and the solution may have further constraints. Most classes of central cycle problems are NP-hard. This paper investigates insertion heuristics for central cycle problems, drawing on insertion heuristics for p-centres [7] and travelling salesman tours [21]. It shows that a modified farthest insertion heuristic has reasonable worstcase bounds for a particular class of problem. It then compares the performance of two farthest insertion heuristics against each other and against bounds (where available) obtained by integer programming on a range of problems from TSPLIB [20]. It shows that a simple farthest insertion heuristic is fast, performs well in practice and so is likely to be useful for a general problems or as the basis for more complex heuristics for specific problems

Tournaments, Risk Aversion and Taxation

Publisher PD

NICHE: The Non-Imaging CHErenkov Array

The accurate measurement of the Cosmic Ray (CR) nuclear composition around and above the Knee (~ 10^15.5 eV) has been difficult due to uncertainties inherent to the measurement techniques and/or dependence on hadronic Monte Carlo simulation models required to interpret the data. Measurement of the Cherenkov air shower signal, calibrated with air fluorescence measurements, offers a methodology to provide an accurate measurement of the nuclear composition evolution over a large energy range. NICHE will use an array of widely-spaced, non-imaging Cherenkov counters to measure the amplitude and time-spread of the air shower Cherenkov signal to extract CR nuclear composition measurements and to cross-calibrate the Cherenkov energy and composition measurements with TA/TALE fluorescence and surface detector measurements.Comment: 6 pages, 5 figures, to be published in the Proceedings of the Centenary Symposium 2012:Discovery of Cosmic Rays (University of Denver, June 26-28, 2012), AIP Conference Proceedings, Editor Jonathan F. Ormes, in Pres

The Legal Road To Replicating Silicon Valley

Must policymakers seeking to replicate the success of Silicon Valley’s venture capital market first replicate other US institutions, such as deep and liquid stock markets? Or can legal reforms alone make a significant difference? In this paper, we compare the economic and legal determinants of venture capital investment, fundraising and exits. We introduce a cross-sectional and time series empirical analysis across 15 countries and 13 years of data spanning an entire business cycle. We show that the legal environment matters as much as the strength of stock markets; that government programmes more often hinder than help the development of private equity, and that temperate bankruptcy laws stimulate entrepreneurial demand for venture capital. Our results provide generalizable lessons for legal reform.venture capital, law and finance, bankruptcy

Bankruptcy Law and Entrepreneurship

Entrepreneurs, catalysts for innovation in the economy, are increasingly the object of policymakers’ attention. Recent initiatives both in the UK and at EU level have sought to promote entrepreneurship by reducing the harshness of the consequences of personal bankruptcy law. Whilst there is an intuitive link between the two, little attention has been paid to the question empirically. We investigate the link between bankruptcy and entrepreneurship using data on self employment over 13 years (1990-2002) and 15 countries in Europe and North America. We compile a new index of the level of how ‘forgiving’ personal bankruptcy laws are, reflecting the time to discharge. This measure varies over time and across the countries studied. We show that bankruptcy law has a more statistically and economically significant effect on self employment rates relative to GDP growth, MSCI stock returns, and a variety of other legal and economic factors. The results have clear implications for policymakers.Personal Bankruptcy Law, Entrepreneurship

Fishes of the Mountain Province Section of the Ouachita River

A survey of the fishes of the mountain province section of the Ouachita River from the headwaters to Remmel Dam using field collections, literature records, and museum collections showed the ichthyofauna to be made up of 80 species representing 16 families. Fourteen species not previously reported from the mountain province section of the river were collected in this survey. These species include Ichthyomyzon gagei, Nocomis asper, Notropis ortenburgeri, N. rubellus, Pimephales promelas, Moxostoma carinatum, Noturus taylori, Fundulus notatus, Lepomis humilis, Etheostoma histrio, E. proeliare, Percina maculata, P. nasuta, and P. uranidea. The Nocomis specimens were the first collected from the Ouachita River system and the discovery of Noturus taylori represents a major range extension