Government policy towards multi-national corporations

We analyze an environment with asymmetric information where a country tries to attract a multi-national corporation. The country can use both taxes and grants to meet its objective of maximizing net revenues. We show that when the country has private information it can often convey it via its choice of a tax-grant pair. When the tax rates are unbounded the country is able to extract the full surplus. The existence of an upper bound can in some cases reduce the payoff to a stronger country

First-principles investigation of spin polarized conductance in atomic carbon wire

We analyze spin-dependent energetics and conductance for one dimensional (1D) atomic carbon wires consisting of terminal magnetic (Co) and interior nonmagnetic (C) atoms sandwiched between gold electrodes, obtained employing first-principles gradient corrected density functional theory and Landauer's formalism for conductance. Wires containing an even number of interior carbon atoms are found to be acetylenic with sigma-pi bonding patterns, while cumulene structures are seen in wires containing odd number of interior carbon atoms, as a result of strong pi-conjugation. Ground states of carbon wires containing up to 13 C atoms are found to have anti-parallel spin configurations of the two terminal Co atoms, while the 14 C wire has a parallel Co spin configuration in the ground state. The stability of the anti-ferromagnetic state in the wires is ascribed to a super-exchange effect. For the cumulenic wires this effect is constant for all wire lengths. For the acetylenic wires, the super-exchange effect diminishes as the wire length increases, going to zero for the atomic wire containing 14 carbon atoms. Conductance calculations at the zero bias limit show spin-valve behavior, with the parallel Co spin configuration state giving higher conductance than the corresponding anti-parallel state, and a non-monotonic variation of conductance with the length of the wires for both spin configurations.Comment: revtex, 6 pages, 5 figure

All-pay auctions with variable rewards

Available online from Blackwell SynergyWe study all–pay auctions with variable rewards under incomplete information. In standard models, a reward depends on a bidder’s privately known type; however, in our model it is also a function of his bid. We show that in such models there is a potential for paradoxical behavior where a reduction in the rewards or an increase in costs may increase the expected sum of bids or alternatively the expected highest bid

Comparison of fresh and ensiled white and red clover added to ryegrass on energy and protein utilization of lactating cows

Two respiratory chamber experiments were conducted with dairy cows to compare metabolizable energy and protein utilization when feeding white or red clover with ryegrass. In experiment 1, fresh ryegrass was mixed with fresh white (WF) or red clover (RF) (60/40, on dry matter (DM) basis). Experiment 2 involved similar mixed diets in ensiled form (WS and RS, respectively), and two ryegrass silage diets, without (GS) or with supplementary maize gluten (GS+). Barley was supplemented according to requirements for milk production. Voluntary forage DM intake remained unaffected in experiment 1 and was higher (P<0·01) in experiment 2 for WS than for GS and GS+(128 v. 98 and 106 g/kg M0·75). Within experiments, no treatment effects occurred for apparent nutrient digestibilities, milk yield, and composition. Protein utilization (milk-N/N-intake) was numerically lower on all clover-based diets (0·24 to 0·25) versus GS (0·29). With added maize gluten (GS+), protein utilization decreased to 0·23, indicating that ryegrass silage (plus barley) alone provided sufficient metabolizable protein. Consequently, higher (P<0·01) urinary energy losses occurred in GS+ compared with GS, despite similar metabolizable energy intakes, and a trend for the highest plasma urea levels was found for GS+ cows (7·59 mmol/l; P<0·1). Overall, this study illustrates that the white and red clovers investigated were equivalent in energy and protein supply, also in comparison to the ryegrass. It remains open whether these forage legumes, when supplemented to a moderate-protein ryegrass, would have contributed to metabolizable protein supply or would have merely increased metabolic nitrogen loa

Effect of Red and White Clover Added to a Rye Grass-Based Diet on Intake, Fibre Digestion and Methane Release of Dairy Cows

Forage legumes like white and red clover are widely grown in association with grass, with the intention to improve the quality of grass-based diets. However little is known about the effect of either white or red clover added to a grass-based diet on methane release, and existing studies are not conclusive. The objective of this study, applying the respiratory chamber technique, was to determine the effect of red and white clover added to a rye grass-based diet on intake, fibre digestion and methane release of dairy cows

Two-Stage Contests with Preferences over Style

Many grant applications have a preliminary stage where only a select group are invited to submit a full application. Similarly, procurement contracts by governments are often awarded through a two-stage procedure. We model and analyze such environments where the designer cares about the style of the application as well as its quality. The designer has the option of choosing an initial stage, where contestants can enter and learn about their desirability while the designer learns about their style. We determine closed form solutions for equilibrium outcomes and designer payoffs and use this to analyze design questions regarding whether or not a second stage is desirable, different rules for deciding who will advance, as with whether or not to communicate the number of contestants that qualify for the second stage

The optimal design of rewards in contests

Using contests to generate innovation has and is widely used. Such contests often involve offering a prize that depends upon the accomplishment (effort). Using an all-pay auction as a model of a contest, we determine the optimal reward for inducing innovation. In a symmetric environment, we find that the reward should be set to c(x)/c′(x) where c is the cost of producing an innovation of level x. In an asymmetric environment with two firms, we find that it is optimal to set different rewards for each firm. There are cases where this can be replicated by a single reward that depends upon accomplishments of both contestants

The key role of topography in altering North Atlantic atmospheric circulation during the last glacial period

The Last Glacial Maximum (LGM; 21 000 yr before present) was a period of low atmospheric greenhouse gas concentrations, when vast ice sheets covered large parts of North America and Europe. Paleoclimate reconstructions and modeling studies suggest that the atmospheric circulation was substantially altered compared to today, both in terms of its mean state and its variability. Here we present a suite of coupled model simulations designed to investigate both the separate and combined influences of the main LGM boundary condition changes (greenhouse gases, ice sheet topography and ice sheet albedo) on the mean state and variability of the atmospheric circulation as represented by sea level pressure (SLP) and 200-hPa zonal wind in the North Atlantic sector. We find that ice sheet topography accounts for most of the simulated changes during the LGM. Greenhouse gases and ice sheet albedo affect the SLP gradient in the North Atlantic, but the overall placement of high and low pressure centers is controlled by topography. Additional analysis shows that North Atlantic sea surface temperatures and sea ice edge position do not substantially influence the pattern of the climatological-mean SLP field, SLP variability or the position of the North Atlantic jet in the LGM

Posterior Auricular Perichondrial Cutaneous Graft Combined With Cartilage Strip in Nostril Reconstruction

Objective: Reconstruction of alar structures of the nose remains difficult. The result has to be not only functional but also aesthetic. Different solutions to reconstruct alar defects are feasible. A good result that meets the specific demands on stability, aesthetics, and stable architecture without shrinkage of the area is not easily achieved. Method: A perichondrial cutaneous graft (PCCG), a graft consisting of a perichondral layer, fatty tissue, and skin that is harvested retroauriculary, is combined with an attached cartilage strip. Case Result: A 72-year-old patient suffering from basal cell carcinoma of the ala of the nose underwent the reconstructive procedure with a good result in 1 year in terms of stability, color match, and graft take. Conclusion: First, a strip of cartilage had been included in a PCCG where tumor resection required sacrifice of more than 50% of the alar rim. The case shows that one can consider a cartilage strip–enhanced PCCG graft to reconstruct alar defects