Did the price control achieve its goal?

As a result of the 1973 oil embargo and the subsequent increase of world oil prices, the oil price control program took place in order to reduce the impact of sharply higher external oil prices. In this regard, since the domestic price for oil was below that of the world market, the price control effort seemed to be regarded as successful. Did the oil price control achieve its goal? Maybe not. This study shows that the price control for the domestically produced crude oil was ineffective and enhanced the ability of external suppliers to manipulate prices.Oil Price Price Control

Population Genetics and Economic Growth

This paper builds an age-structural model of human population genetics in which agents are endowed with a high-dimensional genome that determines their cognitive and physical characteristics. Young adults optimally search for a marriage partner, work for firms, consume goods, save for old age and, if married, decide how many children to have. Applying the fundamental genetic operations, children receive genetic material from their parents. An agent's human capital (productivity) is an aggregate of the received genetic endowment and environmental influences. Thus, the population of agents and the economy co-evolve. The model examines the impact of social and economic institutions on economic performance, including inequality in income and genetic attributes, the transition to an information economy, population bottlenecks, matchmaking, and love. We find that institutional factors significantly impact economic performance by affecting marriage, family size, and the intergenerational transmission of genes.growth; population biology; psychology; fertility; marriage; genetics; evolution

Income Inequality and Marriage

This study examines the extent to which changes in household formation exacerbated income inequality in the United States during the last two generations. Using a time-varying parameter model, the impact on how marriage decisions, changes in human capital, and fertility choices influence inequality are estimated. The estimation results show that marital sorting evolves over time and positively and increasingly affects the degree of income inequality and intergenerational human capital transmission induces path-dependent income distribution dynamics. This suggests that intrahousehold choices explain a substantial proportion of income distribution dynamics.

Ticket Pricing Per Team: The Case of Major League Baseball (MLB)

In this paper, we explore the determinants of demand for attendance at Major League Baseball (MLB) games for 23 individual MLB teams during the period 1970 to 2003. Our central focus is to explore team-specific price elasticities of demand for attendance. We use Error Correction Models (ECM) to identify these elasticities. The empirical findings show that factors of demand differ between teams with respect to the factors that determine attendance and to the estimated weights. We find that demand for attendance is mostly inelastic with levels varying between teams

A study on the key performance indicator of the dynamic positioning system

AbstractThe dynamic positioning system (DPS) maintains an offshore vessel's position and heading under various environmental conditions by using its own thrust. DPS is regarded as one of the most important systems in offshore vessels. So, efficient operation and maintenance of the DPS are important issues. To monitor the DPS, it is necessary to define an appropriate key performance indicator (KPI) that can express the condition of the DPS from the perspective of operational efficiency and maintenance. In this study, a new KPI for the DPS is proposed considering the efficiency of the machinery and controller, the energy efficiency, and the environmental conditions in which the DPS is operated. The KPI is defined as a function of control deviation, energy consumption, and environmental load. A normalization factor is used to normalize the effect of environmental load on the KPI. The KPI value is calculated from DPS simulation and model test data. The possibility of applying the KPI to monitoring of DPS condition is discussed by comparing the values. The result indicates the feasibility of the new KPI

Anti-inflammatory effect of neo-lignan isoamericanin A via suppression of NF-κB in liposaccharide-stimulated RAW 264.7 cells

Purpose: To investigate the potential anti-inflammatory effects of the seeds of Opuntina humifusa and its active constituents.Methods: The extract of O. humifusa seeds was tested for the inhibition of nitric oxide (NO) production in liposaccharide (LPS)-stimulated RAW 264.7 cells using Griess reagent. The active constituents were isolated using bioassay-guided isolation methods. The effects of the active constituent on NO, proinflammatory cytokines, nuclear factor-kappa B (NF-κB) and nuclear factor of kappa light polypeptide gene enhancer in B-cells inhibitor (IκB) were evaluated by enzyme-linked immunosorbent assay (ELISA) and western blot analysis.Results: The seed extract of O. humifusa significantly attenuated LPS-induced NO production in RAW 264.7 cells (p < 0.05). Bioassay-guided fractionation resulted in the isolation of isoamericanin A as an active constituent. Isoamericanin A reduced LPS-induced production of NO, iNOS, and proinflammatory cytokines (TNF-α and IL-6) in a concentration-dependent manner (p < 0.05). Furthermore, the effect was accompanied by decreased translocation of NF-κB from the cytosol to the nucleus and the decreased phosphorylation of IκB in the cytosol induced by LPS (p < 0.05).Conclusion: The seed extract of O. humifusa and its active constituent, isoamericanin A, have antiinflammatory effects in LPS-stimulated RAW 264.7 cells, suggesting that they have potentials as antiinflammatory agents. Keywords: Opuntia humifusa seeds, Isoamericanin A, Nitric oxide, RAW 264.7 cells, NF-kappa

Putative cell adhesion membrane protein Vstm5 regulates neuronal morphology and migration in the central nervous system

During brain development, dynamic changes in neuronal membranes perform critical roles in neuronal morphogenesis and migration to create functional neural circuits. Among the proteins that induce membrane dynamics, cell adhesion molecules are important in neuronal membrane plasticity. Here, we report that V-set and transmembrane domain-containing protein 5 (Vstm5), a cell-adhesion-like molecule belonging to the Ig superfamily, was found in mouse brain. Knock-down of Vstm5 in cultured hippocampal neurons markedly reduced the complexity of dendritic structures, as well as the number of dendritic filopodia. Vstm5 also regulates neuronal morphology by promoting dendritic protrusions that later develop into dendritic spines. Using electroporationin utero, we found that Vstm5 overexpression delayed neuronal migration and induced multiple branches in leading processes during corticogenesis. These results indicate that Vstm5 is a new cell-adhesion-like molecule and is critically involved in synaptogenesis and corticogenesis by promoting neuronal membrane dynamics.SIGNIFICANCE STATEMENTNeuronal migration and morphogenesis play critical roles in brain development and function. In this study, we demonstrate for the first time that V-set and transmembrane domain-containing protein 5 (Vstm5), a putative cell adhesion membrane protein, modulates both the position and complexity of central neurons by altering their membrane morphology and dynamics. Vstm5 is also one of the target genes responsible for variations in patient responses to treatments for major depressive disorder. Our results provide the first evidence that Vstm5 is a novel factor involved in the modulation of the neuronal membrane and a critical element in normal neural circuit formation during mammalian brain development.</jats:p