Valuing Options in California Water Markets: A Laboratory Investigation

Risk and reliability dominate water supply discussions in the arid western United States. In the past, water managers built additional storage to mitigate supply risk. The optimal, least expensive storage sites have now been taken, and there are strong, environmental objections to new facilities. Reliability of existing supplies is further diminished due to concerns about endangered species and global climate change. Thus water agencies increasingly turn to contractual mechanisms such as dry-year options to manage supply risk in advance of need. However, although a few water agencies across the West have implemented dry-year options, sufficient data for conventional econometric analysis do not yet exist. We thus utilize experimental economics to analyze the effect of annual dry-year options on water markets. How do market structure (competitive versus market power) and option contract availability affect water price and allocation within a market? Experiment participants trade stochastic realizations of water in a non-uniform double auction parameterized to resemble the California water market. We find that realized gains from trade are on average higher when options can be traded, by 11% in competitive markets and by 21% in dominant buyer markets. Findings in this analysis may assist policymakers in preparing for the next multi-year drought in California.Resource /Energy Economics and Policy,

MANURE MANAGEMENT FOR WATER QUALITY COSTS TO ANIMAL FEEDING OPERATIONS OF APPLYING MANURE NUTRIENTS TO LAND

Nutrients from livestock and poultry manure are key sources of water pollution. Ever-growing numbers of animals per farm and per acre have increased the risk of water pollution. New Clean Water Act regulations compel the largest confined animal producers to meet nutrient application standards when applying manure to the land, and USDA encourages all animal feeding operations to do the same. The additional costs for managing manure (such as hauling manure off the farm) have implications for feedgrain producers and consumers as well. This report's farm-level analysis examines on-farm technical choice and producer costs across major U.S. production areas for hauling manure to the minimum amount of land needed to assimilate manure nutrients. A regional analysis then focuses on off-farm competition for land to spread surplus manure, using the Chesapeake Bay region as a case study. Finally, a sectorwide analysis addresses potential long-term structural adjustments at the national level and ultimate costs to consumers and producers.manure management costs, price and quantity adjustments, water quality, animal waste, manure nutrients, excess nutrients, confined animals, CAFO, manure nitrogen, manure phosphorus, manure use, assimilative capacity, nutrient management plan, Environmental Economics and Policy, Livestock Production/Industries,

Brane-induced supersymmetry breaking

We study spontaneous supersymmetry breaking induced by brane-localized dynamics in five-dimensional supergravity compactified on S^1/Z_2. We consider a model with gravity in the bulk and matter localized on tensionless branes at the orbifold fixed points. We assume that the brane dynamics give rise to effective brane superpotentials that trigger the supersymmetry breaking. We analyze in detail the super-Higgs effect. We compute the full spectrum and show that the symmetry breaking is spontaneous but nonlocal in the fifth dimension. We demonstrate that the model can be interpreted as a new, non-trivial implementation of a coordinate-dependent Scherk-Schwarz compactification.Comment: 15 pages. v2: improved treatment of brane actions, relation with conventional Scherk-Schwarz mechanism clarified, version to be published in JHE

Cardiovascular Disease and Type 2 Diabetes in Evolutionary Perspective: A Critical Role for Helminths?

Heart disease and type 2 diabetes are commonly believed to be rare among contemporary subsistencelevel human populations, and by extension prehistoric populations. Although some caveats remain, evidence shows these diseases to be unusual among well-studied hunter-gatherers and other subsistence populations with minimal access to healthcare. Here we expand on a relatively new proposal for why these and other populations may not show major signs of these diseases. Chronic infections, especially helminths, may offer protection against heart disease and diabetes through direct and indirect pathways. As part of a strategy to insure their own survival and reproduction, helminths exert multiple cardio-protective effects on their host through their effects on immune function and blood lipid metabolism. Helminths consume blood lipids and glucose, alter lipid metabolism, and modulate immune function towards Th-2 polarization—which combined can lower blood cholesterol, reduce obesity, increase insulin sensitivity, decrease atheroma progression, and reduce likelihood of atherosclerotic plaque rupture. Traditional cardiometabolic risk factors, coupled with the mismatch between our evolved immune systems and modern, hygienic environments may interact in complex ways. In this review, we survey existing studies in the non-human animal and human literature, highlight unresolved questions and suggest future directions to explore the role of helminths in the etiology of cardio-metabolic disease

Glucose enhancement of memory is modulated by trait anxiety in healthy adolescent males

Glucose administration is associated with memory enhancement in healthy young individuals under conditions of divided attention at encoding. While the specific neurocognitive mechanisms underlying this ‘glucose memory facilitation effect’ are currently uncertain, it is thought that individual differences in glucoregulatory efficiency may alter an individual’s sensitivity to the glucose memory facilitation effect. In the present study, we sought to investigate whether basal hypothalamic–pituitary–adrenal axis function (itself a modulator of glucoregulatory efficiency), baseline self-reported stress and trait anxiety influence the glucose memory facilitation effect. Adolescent males (age range = 14–17 years) were administered glucose and placebo prior to completing a verbal episodic memory task on two separate testing days in a counter-balanced, within-subjects design. Glucose ingestion improved verbal episodic memory performance when memory recall was tested (i) within an hour of glucose ingestion and encoding, and (ii) one week subsequent to glucose ingestion and encoding. Basal hypothalamic–pituitary–adrenal axis function did not appear to influence the glucose memory facilitation effect; however, glucose ingestion only improved memory in participants reporting relatively higher trait anxiety. These findings suggest that the glucose memory facilitation effect may be mediated by biological mechanisms associated with trait anxiety

Inflammatory Gene Variants in the Tsimane, An Indigenous Bolivian Population With a High Infectious Load

The Tsimane of lowland Bolivia are an indigenous forager-farmer population living under conditions resembling pre-industrial European populations, with high infectious morbidity, high infection and inflammation, and shortened life expectancy. Analysis of 917 persons ages 5 to 60+ showed that allele frequencies of 9 SNPs examined in the apolipoprotein E (apoE), C-reactive protein (CRP), and interleukin-6 (IL-6) genes differed from some European, African, and north Asian-derived populations. The apoE2 allele was absent, whereas four SNPs related to CRP and IL-6 were monomorphic: CRP (rs1800947, rs3093061, and rs3093062) and IL-6 (rs1800795). No significant differences in apoE, CRP, and IL-6 variants across age were found CRP levels were higher in carriers of two CRP proinflammatory SNPs, whereas they were lower in carriers of apoE4. Taken together, the evidence for (1) different allele frequencies between the Tsimane and other populations and (2) the correlations of CRP and apoE alleles with blood CRP may suggest that these variants are under selection in response to a high infection environment

Re-examination of the I-5 dust storm

The infamous dust storm over the thanksgiving holiday of 1991 that led to loss of life from numerous automobile accidents on Interstate 5 (I-5) has been re-examined. Pauley et al. (1996) conducted an earlier investigation of this dust storm following the tenets of Danielsen's paradigm—a paradigm that links the tropopause fold phenomenon and a balanced thermally indirect circulation about the upper level jet stream. However, a cursory examination of mesoscale structures in the storm from the North American Regional Reanalysis (NARR) indicated evidence of a low-level unbalanced thermally direct circulation that demanded further investigation using a high-resolution Weather Research and Forecasting (WRF) model simulation. Principal results from the present study follow: (1) Although the model simulation showed evidence of a weak indirect circulation in the upper troposphere in support of the Danielsen's paradigm, the dynamic control of the storm stemmed from the lower tropospheric mesoscale response to geostrophic imbalance. (2) A lower tropospheric direct circulation led to mass/temperature adjustments that were confirmed by upper air observations at locations in proximity to the accident site, and (3) boundary layer deepening and destabilization due to these mesoscale processes pinpointed the timing and location of the dust storm. Although the present study does not underestimate the value of analyses that focus on the larger/synoptic scales of motion, it does bring to light the value of investigation that makes use of the mesoscale resources in order to clarify synoptic-mesoscale interactions