Information of Interest

A pricing formula for discount bonds, based on the consideration of the market perception of future liquidity risk, is established. An information-based model for liquidity is then introduced, which is used to obtain an expression for the bond price. Analysis of the bond price dynamics shows that the bond volatility is determined by prices of certain weighted perpetual annuities. Pricing formulae for interest rate derivatives are derived.Comment: 12 pages, 3 figure

Internal and External Factors Associated with Illicit Prescription Drug Use in College Students

With data suggesting emerging adulthood is a time of increased risk for illicit prescription drug use, it is essential that factors contributing to this be understood to guide prevention efforts. Internal factors (stress, GPA, gender) and external factors (type of institution, living situation) were assessed in tandem with perceptions of harm and illicit prescription drug use. In accordance with nationwide research (SAMSHA, 2006), 14% of our sample of Oregon college students reported illicitly using prescription drugs. While rates of use did not vary by gender, females held higher perceptions of harm. Perceived harm was high for our sample and inversely correlated with use. Those living on campus reported higher perceptions of harm and less use than those living off campus. Those attending private academic institutions reported higher perceptions of harm and less use than those attending public institutions. Previous studies suggest a heightened sense of community within schools, comparatively present within private institutions, can reduce drug use (Battistich, & Hom, 1997). Stress was positively correlated with use and GPA was negatively correlated with use. While numerous studies have examined various correlates of prescription drug use, few have sampled beyond a single institution, most within public universities. Thus, the inclusion of private institutions offers unique and a more holistic insight. As drug use continues to increase in college populations even with prevention programs in place, it is imperative to translate these findings into prevention targeting both genders, at times of stress, particularly those living off campus, at public universities, with lower GPAs

OPTIMAL MANAGEMENT OF GIANT-CLAM FARMING IN SOLOMON ISLANDS

Giant-clam farming is undertaken by coastal villagers in Solomon Islands as part of a research and development project of the International Center for Living Aquatic Resources Management (ICLARM). The production technology is simple and does not require a large capital investment. The main inputs are clam seed, labour and time. Labour is used for activities such as seeding, cleaning, thinning and harvesting. In this paper, a bioeconomic model is used to explore optimal farm management. The theoretical basis for this analysis is found in the economic theory of optimal forestry exploitation. The management variables considered are husbandry applied to cleaning and the frequency with which thinning is undertaken. The optimal cycle-length is determined for both a single clam harvest and multiple harvests. The labour requirements of various management scenarios are identified for the multiple-cycle case.bioeconomics, giant clams, subsistence mariculture, Farm Management,

Age-dependent transient shear banding in soft glasses

We study numerically the formation of long-lived transient shear bands during shear startup within two models of soft glasses (a simple fluidity model and an adapted `soft glassy rheology' model). The degree and duration of banding depends strongly on the applied shear rate, and on sample age before shearing. In both models the ultimate steady flow state is homogeneous at all shear rates, consistent with the underlying constitutive curve being monotonic. However, particularly in the SGR case, the transient bands can be extremely long lived. The banding instability is neither `purely viscous' nor `purely elastic' in origin, but is closely associated with stress overshoot in startup flow.Comment: 4 pages, 3 figure

Data-Driven Change in Oregon Psychologists’ Knowledge and Attitudes about Prescriptive Authority

With over half of all states having considered legislating prescriptive authority, an immense amount of time and money has been invested. The literature is limited in terms of understanding if opinions toward prescriptive authority are grounded in knowledge and what implications that has for altering these opinions. Following a veto of a prescriptive authority bill in Oregon, 160 licensed Oregon clinical psychologists were surveyed regarding their attitudes and knowledge. In terms of knowledge, only 5.6% knew which three states/territories currently have prescriptive authority and 70.4% were unfamiliar with any of the prerequisites for postdoctoral training in psychopharmacology. Reflecting division, 42.8% were in favor, 20.1% were undecided, and 37.1% were in opposition to broadening privileges for psychologists. Further, only 15.1% expressed interest in pursuing training or 6.4% in becoming a prescriber. Data on access, training, and legislative costs were presented to participants in the education condition. These participants showed significant gains in their knowledge across all domains and their opinions shifted only in these specific areas leaving their general stance on the issue unchanged. In contrast to ardent supporters who argue that their “data should provide reassurance to psychologists spearheading legislative initiatives” because of high approval ratings (Sammons et al., 2000, p. 608), our data suggest disagreement amongst a group of professionals who are not particularly well-informed, nor interested in becoming prescribers. Future work should investigate whether expanding the data relevant to other facets of the argument contributes to further targeted change or an overall change in opinion toward prescriptive authority

An Exploratory Study Analyzing the Impact of Coercion on the Outcomes of Substance Abuse Program Participants

This study involved the investigation of institutional coercion on the outcomes of program participants in an alcohol, tobacco, and other illegal substance prevention and intervention program. The researcher explored the importance of determining changes in pre-program characteristics of youths participating for 5, 8, or 12 weeks in an alcohol, tobacco, and other illegal substance prevention and early intervention program. Data was utilized to validate trends in participants experiencing compulsory programming on three different levels (parent, school, or court). Program pre-tests and post-tests survey questions were administered to youths who were at some level, coerced into a treatment program. Data was utilized to measure participant outcomes, including any changes in their attitudes towards illegal substances. Firstly, a five-way analysis of variance explored the link between sociodemographic background of program participants and specific institutional factors in relation to the youths\u27 level of coercion. The researcher then explored program impact on its participants regarding institutional factors such as number of days skipped at school and how meaningful their schoolwork was to them, also measured the level of coercion the participant had experienced. Finally, data was examined to determine whether participants experienced change in their attitude pertaining to alcohol, tobacco, and other drugs. All analyses indicated no significance for all levels of coercion, implying the program is effective for all participants no matter their level of coercion into the program. The findings may be useful in the future programming of youths being instructed in prevention and intervention curriculums in order to delve deeper into effective treatment models for youths experiencing coercion prior to treatment