FINANCIAL CONTROL AND VARIABLE AMORTIZATION UNDER UNCERTAINTY: AN APPLICATION TO TEXAS RICE FARMS

Agricultural Finance,

Estimation of Precautionary Demand by Financial Anxieties

Pioneering work of modelling financial anxieties was given by Kimura et al (1999) as psychological change of people due to financial shocks. Since they regressed financial position (easy or tight) by nonstationary interest rate, their results exhibit high peaks not only in financial crisis period of 1997 and 1998, but also in the bubble economy period of 1987 to 1989, which seems to be a spurious regression. Furthermore, defining financial anxieties as the conditional variance in TARCH model, one of estimated coefficients did not satisfy sign condition. We got rid of these difficulties by introducing a growth rate model, where a change of financial position (toward ''tight'') under a change of interest rate (toward ''fall'') is regarded as financial anxieties. Such anxieties are quantified by conditional variance of EGARCH model and shown to be stationary. Precautionary demand caused by financial anxieties is estimated in VEC model and it is shown that money adjusted by precautionary demand satisfies a long-run equilibrium relationship in the system (adjusted money, real GDP, interest rate) even in the interval 1980q1 to 2003q2.financial anxieties, precautionary demand, cointegration, EGARCH

Effects of elevated temperature on 8-OHdG expression in the American oyster (Crassostrea virginica): Induction of oxidative stress biomarkers, cellular apoptosis, DNA damage and γH2AX signaling pathways

Global temperature is increasing due to anthropogenic activities and the effects of elevated temperature on DNA lesions are not well documented in marine organisms. The American oyster (Crassostrea virginica, an edible and commercially important marine mollusk) is an ideal shellfish species to study oxidative DNA lesions during heat stress. In this study, we examined the effects of elevated temperatures (24, 28, and 32 °C for one-week exposure) on heat shock protein-70 (HSP70, a biomarker of heat stress), 8-hydroxy-2’-deoxyguanosine (8-OHdG, a biomarker of pro-mutagenic DNA lesion), double-stranded DNA (dsDNA), γ-histone family member X (γH2AX, a molecular biomarker of DNA damage), caspase-3 (CAS-3, a key enzyme of apoptotic pathway) and Bcl-2-associated X (BAX, an apoptosis regulator) protein and/or mRNA expressions in the gills of American oysters. Immunohistochemical and qRT-PCR results showed that HSP70, 8-OHdG, dsDNA, and γH2AX expressions in gills were significantly increased at high temperatures (28 and 32 °C) compared with control (24°C). In situ TUNEL analysis showed that the apoptotic cells in gill tissues were increased in heat-exposed oysters. Interestingly, the enhanced apoptotic cells were associated with increased CAS-3 and BAX mRNA and/or protein expressions, along with 8-OHdG levels in gills after heat exposure. Moreover, the extrapallial (EP) fluid (i.e., extracellular body fluid) protein concentrations were lower; however, the EP glucose levels were higher in heat-exposed oysters. Taken together, these results suggest that heat shock-driven oxidative stress alters extracellular body fluid conditions and induces cellular apoptosis and DNA damage, which may lead to increased 8-OHdG levels in cells/tissues in oysters

Forensic Science: Complex Admissibility Standard for Scientific Evidence and Expert Witness\u27s Testimony

Modern science forces the world to accept new theories and invention. Science has invented several tools, which are used in the legal system to dispute criminal cases. Scientific evidence and expert witness testimony have weight in the courtroom because those are scientifically proved to be true. Even though there are few case laws and Federal rule of evidence 1975, still the admissibility standard is complex which may lead injustice. This article examines the Federal rule of evidence, case laws and scholars’ opinion to address the complexity of the admissibility standard of scientific evidence and expert testimony. The first legal question raised relating the admissibility standard was Frye v. United States (1923) where the court ruled that any scientific method or practice must be generally accepted by the scientific community at large. The First Federal rule of evidence was adopted in 1975. In 1980`s scientific scholars began to questioning the authenticity of the admitted scientific evidence saying the kind of expertise regularly accepted as admissible by courts was, frankly, \u27junk\u27 of scandalous lack of dependability. \u27 To address the problem of junk science in the courtroom, the United States Supreme Court decided Daubert v. Merrell Dow Pharma, Inc. (1993) In this case the Court addressed a new standard for determining the admissibility of scientific evidence in the federal courts of the U.S. After examining the case laws and statues, it revealed US has legal system has complex admissibility standard for scientific evidence and expert witness interpreted by the judges and may serve injustice to innocent people

Applications of environmental DNA (eDNA) to detect subterranean and aquatic invasive species: A critical review on the challenges and limitations of eDNA metabarcoding

The world is struggling to solve a devastating biodiversity loss that not only affects the extinction of treasured species and irreplaceable genetic variation, but also jeopardizes the food production, health, and safety of people. All initiatives aimed to conserve biodiversity rely heavily on the monitoring of both species and populations to get accurate spatial patterns and overall population assessments. Conventional monitoring techniques, such as visual surveys and counting individuals, are problematic due to challenges in identifying cryptic species or immature life stages. Environmental DNA (eDNA) is a relatively new technology that has the potential to be a faster, non-invasive, and cost-effective tool for monitoring biodiversity, conservation, and management practices. eDNA has been extracted from materials that are both ancient and present, and its applications range from the identification of individual species to the study of entire ecosystems. In the past few years, there has been a substantial increase in the usage of eDNA in research pertaining to ecological preservation and conservation. However, several technological problems still need to be solved. To reduce the number of false positives and/or false negatives produced by current eDNA technologies, it is necessary to improve and optimize calibration and validation at every stage of the procedure. There is a significant need for greater information about the physical and ecological constraints on eDNA use, as well as its synthesis, current state, expected lifespan, and potential modes of movement. Due to the widespread use of eDNA research, it is also essential to assess the extent and breadth of these studies. In this article, we critically reviewed the primary applications of eDNA in subterranean and aquatic invasive species. Through this review, readers can better understand the challenges and limitations of eDNA metabarcoding

Gate Stack Dielectric Degradation of Rare-Earth Oxides Grown on High Mobility Ge Substrates

We report on the dielectric degradation of Rare-Earth Oxides (REOs), when used as interfacial buffer layers together with HfO2 high-k films (REOs/HfO2) on high mobility Ge substrates. Metal-Oxide-Semiconductor (MOS) devices with these stacks,show dissimilar charge trapping phenomena under varying levels of Constant- Voltage-Stress (CVS) conditions, which also influences the measured densities of the interface (Nit) and border (NBT) traps. In the present study we also report on C-Vg hysteresis curves related to Nit and NBT. We also propose a new model based on Maxwell-Wagner instabilities mechanism that explains the dielectric degradations (current decay transient behavior) of the gate stack devices grown on high mobility substrates under CVS bias from low to higher fields, and which is unlike to those used for other MOS devices. Finally, the time dependent degradation of the corresponding devices revealed an initial current decay due to relaxation, followed by charge trapping and generation of stress-induced leakage which eventually lead to hard breakdown after long CVS stressing.Comment: 19pages (double space), 7 figures, original research article, Submitted to JAP (AIP

Electrochemical Sensors Based on Carbon Nanotubes

This review focuses on recent contributions in the development of the electrochemical sensors based on carbon nanotubes (CNTs). CNTs have unique mechanical and electronic properties, combined with chemical stability, and behave electrically as a metal or semiconductor, depending on their structure. For sensing applications, CNTs have many advantages such as small size with larger surface area, excellent electron transfer promoting ability when used as electrodes modifier in electrochemical reactions, and easy protein immobilization with retention of its activity for potential biosensors. CNTs play an important role in the performance of electrochemical biosensors, immunosensors, and DNA biosensors. Various methods have been developed for the design of sensors using CNTs in recent years. Herein we summarize the applications of CNTs in the construction of electrochemical sensors and biosensors along with other nanomaterials and conducting polymers

Mathematical modeling of fructose production by immobilised glucose isomerase as a function of temperature and pH variations

Production of fructose from glucose isomerisation process using commercial immobilized glucose isomerase (IGI) was conducted in a batch type of stirred tank bioreactor. A mathematical model was developed to describe the effect of temperature and pH on the kinetic parameters of fructose production. Modified Santos model known as MM3 was used to describe this phenomenon. The influence of temperature and pH was investigated and quantified. The results showed that, even though the highest R2 was at 70°C but based on the IAE of 0.843 and ISE of 0.978, it proved that for enzymatic reaction, it should be carried out below 65°C. Effect of pH for various models have shown that, the IAE and ISE were less than one whereas the R2 were greater than 0.95. This indicates that the model, MM3 is acceptable.Keywords: Batch reactor, fructose, glucose isomerisation, mathematical modeling, pH, temperatur

The Potential Short- and Long-Term Disruptions and Transformative Impacts of 5G and Beyond Wireless Networks: Lessons Learnt from the Development of a 5G Testbed Environment

The capacity and coverage requirements for 5 th generation (5G) and beyond wireless connectivity will be significantly different from the predecessor networks. To meet these requirements, the anticipated deployment cost in the United Kingdom (UK) is predicted to be between £30bn and £50bn, whereas the current annual capital expenditure (CapEX) of the mobile network operators (MNOs) is £2.5bn. This prospect has vastly impacted and has become one of the major delaying factors for building the 5G physical infrastructure, whereas other areas of 5G are progressing at their speed. Due to the expensive and complicated nature of the network infrastructure and spectrum, the second-tier operators, widely known as mobile virtual network operators (MVNO), are entirely dependent on the MNOs. In this paper, an extensive study is conducted to explore the possibilities of reducing the 5G deployment cost and developing viable business models. In this regard, the potential of infrastructure, data, and spectrum sharing is thoroughly investigated. It is established that the use of existing public infrastructure (e.g., streetlights, telephone poles, etc.) has a potential to reduce the anticipated cost by about 40% to 60%. This paper also reviews the recent Ofcom initiatives to release location-based licenses of the 5G-compatible radio spectrum. Our study suggests that simplification of infrastructure and spectrum will encourage the exponential growth of scenario-specific cellular networks (e.g., private networks, community networks, micro-operators) and will potentially disrupt the current business models of telecommunication business stakeholders - specifically MNOs and TowerCos. Furthermore, the anticipated dense device connectivity in 5G will increase the resolution of traditional and non-traditional data availability significantly. This will encourage extensive data harvesting as a business opportunity and function within small and medium-sized enterprises (SMEs) as well as large social networks. Consequently, the rise of new infrastructures and spectrum stakeholders is anticipated. This will fuel the development of a 5G data exchange ecosystem where data transactions are deemed to be high-value business commodities. The privacy and security of such data, as well as definitions of the associated revenue models and ownership, are challenging areas - and these have yet to emerge and mature fully. In this direction, this paper proposes the development of a unified data hub with layered structured privacy and security along with blockchain and encrypted off-chain based ownership/royalty tracking. Also, a data economy-oriented business model is proposed. The study found that with the potential commodification of data and data transactions along with the low-cost physical infrastructure and spectrum, the 5G network will introduce significant disruption in the Telco business ecosystem