Contingent Valuation, Hypothetical Bias, and Experimental Economics

Although the contingent valuation method has been widely used to value a diverse array of nonmarket environmental and natural resource commodities, recent empirical evidence suggests it may not accurately estimate real economic values. The hypothetical nature of environmental valuation surveys typically results in responses that are significantly greater than actual payments. Economists have had mixed success in developing techniques designed to control for this "hypothetical bias." This paper highlights the role of experimental economics in addressing hypothetical bias, and identifies a gap in the existing literature by focusing on the underlying causes of this bias. Most of the calibration techniques used today lack a theoretical justification, and therefore these procedures need to be used with caution. We argue that future experimental research should investigate the reasons hypothetical bias persists. A better understanding of the causes should enhance the effectiveness of calibration techniques.Environmental Economics and Policy,

A Comparison of Induced Value and Home-Grown Value Experiments to Test for Hypothetical Bias in Contingent Valuation

This study tests the hypothesis that hypothetical bias may not be related to value elicitation; rather it may be a value formation problem. When participants are asked to indicate their willingness to pay for an induced value good, we find no evidence of hypothetical bias for three different commodity types (public good, private good, and publicly provided private good). However, when these same subjects are asked to value homegrown goods with no pre-assigned induced value using the same elicitation mechanism, hypothetical values are roughly double actual payments in all three cases. These results support the hypothesis that the process of forming values in a homegrown setting may be a key contributor to hypothetical bias.contingent valuation, hypothetical bias, experiments, induced values, home-grown values

The connection between metallicity and metal-line kinematics in (sub-)damped Lyman-alpha systems

A correlation between the metallicity, [M/H], and rest-frame MgII equivalent width, EW, is found from 49 DLAs and strong sub-DLAs drawn from the literature over the redshift range 0.2<z_abs<2.6. The correlation is significant at 4.2 sigma and improves to 4.7 sigma when the mild evolution of [M/H] with redshift is taken into account. Even when including only the 26 DLAs (i.e. excluding sub-DLAs) which have Zn metallicities and EW>0.7A, the correlation remains at >3 sigma significance. Since the MgII2796 transition is predominantly saturated in DLAs (which always have EW greater than 0.3A), EW is far more sensitive to the kinematic spread of the metal velocity components across the absorption profile than it is to [M/H]. Thus, the observed [M/H]--EW correlation points to a strong link between the absorber metallicity and the mechanism for producing and dispersing the velocity components. We also note that approximately half of the 13 known molecular hydrogen absorbers have very high EW and very broad velocity structures which show characteristics usually associated with outflows. Follow-up ultraviolet- and blue-sensitive high-resolution spectra of high-EW systems, initially identified in low-resolution spectra, may therefore yield a large number of new H_2 discoveries.Comment: 9 pages, 2 figures (3 EPS files). Accepted by MNRA

A new concept for high-cycle-life LEO: Rechargeable MnO2-hydrogen

The nickel-hydrogen secondary battery system, developed in the early 1970s, has become the system of choice for geostationary earth orbit (GEO) applications. However, for low earth orbit (LEO) satellites with long expected lifetimes the nickel positive limits performance. This requires derating of the cell to achieve very long cycle life. A new system, rechargeable MnO2-Hydrogen, which does not require derating, is described here. For LEO applications, it promises to have longer cycle life, high rate capability, a higher effective energy density, and much lower self-discharge behavior than those of the nickel-hydrogen system

Neutron Charge Radius: Relativistic Effects and the Foldy Term

The neutron charge radius is studied within a light-front model with different spin coupling schemes and wave functions. The cancellation of the contributions from the Foldy term and Dirac form factor to the neutron charge form factor is verified for large nucleon sizes and it is independent of the detailed form of quark spin coupling and wave function. For the physical nucleon our results for the contribution of the Dirac form factor to the neutron radius are insensitive to the form of the wave function while they strongly depend on the quark spin coupling scheme.Comment: 12 pages, 5 figures, Latex, Int. J. Mod. Phys.

Entry, Pricing and Product Design in an Initially Monopolized Market

We analyze entry, pricing and product design in a model with differentiated products. Under plausible conditions, entry into an initially monopolized market leads to higher prices for some, possibly all, consumers. Entry can induce a misallocation of goods to consumers, segment the market in a way that transfers surplus to producers and undermine aggressive pricing by the incumbent. Post entry, firms have strong incentives to modify product designs so as to raise price by strengthening market segmentation. Firms may also forego socially beneficial product improvements in the post-entry equilibrium, because they intensify price competition too much. Multi-product monopoly can lead to better design incentives than the non-cooperative pricing that prevails under competition.

Finding binaries among Kepler pulsating stars from phase modulation of their pulsations

We present a method for finding binaries among pulsating stars that were observed by the Kepler Mission. We use entire 4 yr light curves to accurately measure the frequencies of the strongest pulsation modes, and then track the pulsation phases at those frequencies in 10-d segments. This produces a series of time-delay measurements in which binarity is apparent as a periodic modulation whose amplitude gives the projected light travel time across the orbit. Fourier analysis of this time-delay curve provides the parameters of the orbit, including the period, eccentricity, angle of ascending node, and time of periastron passage. Differentiating the time-delay curve yields the full radial-velocity curve directly from the Kepler photometry, without the need for spectroscopy.We showexamples with δ scuti stars having large numbers of pulsation modes, including one system in which both components of the binary are pulsating. The method is straightforward to automate, thus radial velocity curves can be derived for hundreds of non-eclipsing binary stars from Kepler photometry alone

Odontoameloblastoma with extensive chondroid matrix deposition in a guinea pig

Odontoameloblastomas (previously incorporated within ameloblastic odontomas) are matrix-producing odontogenic mixed tumors and are closely related in histologic appearance to the 2 other types of matrix-producing odontogenic mixed tumors: odontomas and ameloblastic fibro-odontomas. The presence or absence of intralesional, induced non-neoplastic tissue must be accounted for in the diagnosis. Herein we describe a naturally occurring odontoameloblastoma with extensive chondroid cementum deposition in a guinea pig (Cavia porcellus). Microscopically, the mass featured palisading neoplastic odontogenic epithelium closely apposed to ribbons and rings of a pink dental matrix (dentinoid), alongside extensive sheets and aggregates of chondroid cementum. The final diagnosis was an odontoameloblastoma given the abundance of odontogenic epithelium in association with dentinoid but a paucity of pulp ectomesenchyme. Chondroid cementum is an expected anatomical feature of cavies, and its presence within the odontoameloblastoma was interpreted as a response of the ectomesenchyme of the dental follicle to the described neoplasm. Our case illustrates the inductive capabilities of odontoameloblastomas while highlighting species-specific anatomy that has resulted in a histologic appearance unique to cavies and provides imaging and histologic data to aid diagnosis of these challenging lesions