Controlling a stock pollutant with endogenous investment and asymmetric information

Non-strategic firms with rational expectations make investment and emissions decisions. The investment rule depends on firms' beliefs about future emissions policies. We compare emissions taxes and quotas when the (strategic) regulator and (nonstrategic) firms have asymmetric information about abatement costs, and all agents use Markov Perfect decision rules. Emissions taxes create a secondary distortion at the investment stage, unless a particular condition holds; emissions quotas do not create a secondary distortion. We solve a linear-quadratic model calibrated to represent the problem of controlling green-house gases. The endogeneity of investment favors taxes, and it increases abatement

Efficiency of the maximum partial likelihood estimator for nested case control sampling

In making inference on the relation between failure and exposure histories in the Cox semiparametric model, the maximum partial likelihood estimator (MPLE) of the finite dimensional odds parameter, and the Breslow estimator of the baseline survival function, are known to achieve full efficiency when data is available for all time on all cohort members, even when the covariates are time dependent. When cohort sizes become too large for the collection of complete data, sampling schemes such as nested case control sampling must be used and, under various models, there exist estimators based on the same information as the MPLE having smaller asymptotic variance. Though the MPLE is therefore not efficient under sampling in general, it approaches efficiency in highly stratified situations, or instances where the covariate values are increasingly less dependent upon the past, when the covariate distribution, not depending on the real parameter of interest, is unknown and there is no censoring. In particular, in such situations, when using the nested case control sampling design, both the MPLE and the Breslow estimator of the baseline survival function achieve the information lower bound both in the distributional and the minimax senses in the limit as the number of cohort members tends to infinity.Comment: Published in at http://dx.doi.org/10.3150/08-BEJ162 the Bernoulli (http://isi.cbs.nl/bernoulli/) by the International Statistical Institute/Bernoulli Society (http://isi.cbs.nl/BS/bshome.htm

Establishing Open Textbooks at Marshall University

We discuss the process used at Marshall University to implement open textbook adoption, statistics and future plans

Marshall University Libraries Enhance Scholarly Publication

Marshall University Library has been experiencing a fruitful collaboration with various departments and programs on campus involving the publication of peer-reviewed journals, which are hosted on Marshall’s open access institutional repository (OAIR), Marshall Digital Scholar (MDS). Euscorpius, Marshall Journal of Medicine and Sermon Studies are currently publishing peer-reviewed research articles. Two other peer-reviewed journals are in the planning stage to begin publication this year. One of these, the Journal of Applied Digital Evidence (JADE) is a collaboration with the forensic sciences programs at Marshall University, Eastern Kentucky University and Purdue