Returning to Principles of Fairness and Justice : The Role of Investment-Backed Expectations in Total Regulatory Taking Claims

The U.S. Supreme Court has difficulty determining when a regulation is so excessive as to amount to an unconstitutional taking under the Fifth Amendment. In making that determination, the Court has failed to deploy an investment-backed expectations analysis as a normative guide, even though the concept is part of at least one constitutional test. Nevertheless, the Court\u27s focus on principles of fairness and justice suggests that the original, conceptual formulation of investment- backed expectations comports with the Court\u27s normative takings philosophy. Using the extreme situation where a regulation completely eliminates a property\u27s value as an analytical example, this Note argues that the Court should expressly adopt an efficiency-fairness, demoralization cost approach to its investment-backed expectations analysis in such a situation. In so doing, the Court should draw upon public choice theory to supply administrable factors that indicate unconstitutional government regulation because it already takes a similar, but implicit, approach to takings claims

AVIRIS spectra correlated with the chlorophyll concentration of a forest canopy

Imaging spectrometers have many potential applications in the environmental sciences. One of the more promising applications is that of estimating the biochemical concentrations of key foliar biochemicals in forest canopies. These estimates are based on spectroscopic theory developed in agriculture and could be used to provide the spatial inputs necessary for the modeling of forest ecosystem dynamics and productivity. Several foliar biochemicals are currently under investigation ranging from those with primary absorption features in visible to middle infrared wavelengths (e.g., water, chlorophyll) to those with secondary to tertiary absorption features in this part of the spectrum (e.g., nitrogen, lignin). The foliar chemical of interest in this paper is chlorophyll; this is a photoreceptor and catalyst for the conversion of sunlight into chemical energy and as such plays a vital role in the photochemical synthesis of carbohydrates in plants. The aim of the research reported here was to determine if the chlorophyll concentration of a forest canopy could be correlated with the reflectance spectra recorded by the Airborne Visible/Infrared Imaging Spectrometer (AVIRIS)

Causal correlation of foliar biochemical concentrations with AVIRIS spectra using forced entry linear regression

A major goal of airborne imaging spectrometry is to estimate the biochemical composition of vegetation canopies from reflectance spectra. Remotely-sensed estimates of foliar biochemical concentrations of forests would provide valuable indicators of ecosystem function at regional and eventually global scales. Empirical research has shown a relationship exists between the amount of radiation reflected from absorption features and the concentration of given biochemicals in leaves and canopies (Matson et al., 1994, Johnson et al., 1994). A technique commonly used to determine which wavelengths have the strongest correlation with the biochemical of interest is unguided (stepwise) multiple regression. Wavelengths are entered into a multivariate regression equation, in their order of importance, each contributing to the reduction of the variance in the measured biochemical concentration. A significant problem with the use of stepwise regression for determining the correlation between biochemical concentration and spectra is that of 'overfitting' as there are significantly more wavebands than biochemical measurements. This could result in the selection of wavebands which may be more accurately attributable to noise or canopy effects. In addition, there is a real problem of collinearity in that the individual biochemical concentrations may covary. A strong correlation between the reflectance at a given wavelength and the concentration of a biochemical of interest, therefore, may be due to the effect of another biochemical which is closely related. Furthermore, it is not always possible to account for potentially suitable waveband omissions in the stepwise selection procedure. This concern about the suitability of stepwise regression has been identified and acknowledged in a number of recent studies (Wessman et al., 1988, Curran, 1989, Curran et al., 1992, Peterson and Hubbard, 1992, Martine and Aber, 1994, Kupiec, 1994). These studies have pointed to the lack of a physical link between wavelengths chosen by stepwise regression and the biochemical of interest, and this in turn has cast doubts on the use of imaging spectrometry for the estimation of foliar biochemical concentrations at sites distant from the training sites. To investigate this problem, an analysis was conducted on the variation in canopy biochemical concentrations and reflectance spectra using forced entry linear regression

The Third International Symposium on Fungal Stress – ISFUS

Stress is a normal part of life for fungi, which can survive in environments considered inhospitable or hostile for other organisms. Due to the ability of fungi to respond to, survive in, and transform the environment, even under severe stresses, many researchers are exploring the mechanisms that enable fungi to adapt to stress. The International Symposium on Fungal Stress (ISFUS) brings together leading scientists from around the world who research fungal stress. This article discusses presentations given at the third ISFUS, held in São José dos Campos, São Paulo, Brazil in 2019, thereby summarizing the state-of-the-art knowledge on fungal stress, a field that includes microbiology, agriculture, environmental science, ecology, biotechnology, medicine, and astrobiology

Neighbor Overlap Is Enriched in the Yeast Interaction Network: Analysis and Implications

The yeast protein-protein interaction network has been shown to have distinct topological features such as a scale free degree distribution and a high level of clustering. Here we analyze an additional feature which is called Neighbor Overlap. This feature reflects the number of shared neighbors between a pair of proteins. We show that Neighbor Overlap is enriched in the yeast protein-protein interaction network compared with control networks carefully designed to match the characteristics of the yeast network in terms of degree distribution and clustering coefficient. Our analysis also reveals that pairs of proteins with high Neighbor Overlap have higher sequence similarity, more similar GO annotations and stronger genetic interactions than pairs with low ones. Finally, we demonstrate that pairs of proteins with redundant functions tend to have high Neighbor Overlap. We suggest that a combination of three mechanisms is the basis for this feature: The abundance of protein complexes, selection for backup of function, and the need to allow functional variation

Risk governance: Examining its impact upon bank performance and risk-taking

As policy-makers in the United States contemplate a relaxation of financial regulation, our study contributes to this dialogue by testing the veracity of heightened standards of risk governance activities for US bank holding companies (BHCs). Our study examines evidence relating to the adoption of these standards by BHCs following regulatory intervention. We find that board-level risk appetite practices have a profound association upon BHC performance and tail risk. Our estimates show that BHCs which adopt risk appetite practices exhibit a significant improvement in headline performance and reduced tail risk measures. Our research is relevant to academics by identifying the significance of this risk governance practice which has been introduced by global regulators. For practitioners (including board members, risk managers, policy-makers and regulators), our study validates the efficacy of risk appetite frameworks as the future shape of financial regulation is being actively debated in the US