The role of the agent's outside options in principal-agent relationships

We consider a principal-agent model of adverse selection where, in order to trade with the principal, the agent must undertake a relationship-specific investment which affects his outside option to trade, i.e. the payoff that he can obtain by trading with an alternative principal. This creates a distinction between the agent’s ex ante (before investment) and ex post (after investment) outside options to trade. We investigate the consequences of this distinction, and show that whenever an agent’s ex ante and ex post outside options differ, this may equip the principal with an additional tool for screening among different agent types, by randomizing over the probability with which trade occurs once the agent has undertaken the investment. In turn, this may enhance the efficiency of the optimal second-best contract

"Embarrassingly White": Faculty Racial Disparities in American Recreation, Park, and Tourism Programs

The publisher-authenticated version of Mowatt, R. A., Johnson, C. W., Roberts, N. S., & Kivel, B. D. (2016). “Embarrassingly White”: Faculty racial disparities in American recreation, park & tourism programs. Schole: A Journal Of Leisure Studies & Recreation Education. 31(1), 37-55. is available online at: http://js.sagamorepub.com/schole/article/view/7268 DOI: 10.18666/SCHOLE-2016-V31-I1-7268The recruitment and retention of faculty and students of color is a long-standing challenge in academic programs focusing on leisure studies, parks, recreation, and tourism. However, when confronting the predominantly white composition of educational programs, many evade or, at most, acknowledge the situation as a "deficit." Few offer specific strategies for reversing this pattern, if that is the desired outcome. The purpose of this essay is to extend the discourse beyond traditional diversity initiatives by undertaking a field-wide initiative focused on the disparities in faculty and student representation. First, the essay examines systems that have created and supported the persistence of "white" as privileged in academia. Next, a summary and critique of institutional faculty demographic data over the 5-year period from 2006-2011 from four diverse institutions are presented. This analysis illustrates patterns that have resulted in presumably less than desirable numbers of faculty and students of color. Concrete suggestions for recruiting, retaining, and promoting people of color in academic leisure studies programs are included. Increasingly, today's students are attracted to academic programs in which they will be exposed to faculty representing the diversity they will encounter as professionals. This essay offers a call to bridge the perceived gap between practitioners and academia by recommending systemic changes informed by the lived experiences of communities of color that are effectively served by various leisure service providers

Lack of access to medical care during Hurricane Sandy and mental health symptoms

© 2018 The Authors Destruction caused by natural disasters compromises medical providers’ and hospitals’ abilities to administer care. Hurricane Sandy was particularly devastating, resulting in massive disruptions of medical care in the region. This study aimed to determine whether a lack of access to medical care during Hurricane Sandy was associated with posttraumatic stress disorder (PTSD) symptoms and other mental health/substance abuse outcomes. A secondary aim was to examine whether having a chronic illness moderates those associations. Self-reported medical access and mental health symptomatology were obtained from New York City and Long Island residents (n = 1669) following Hurricane Sandy under the Leaders in Gathering Hope Together project (10/23/2013–2/25/2015) and Project Restoration (6/5/2014–8/9/2016). Multivariable logistic regressions were utilized to determine the relationship between lack of access to medical care and mental health outcomes. Of the 1669 participants, 994 (59.57%) were female, 866 (51.89%) were white, and the mean age was 46.22 (SD = 19.2) years old. Those without access to medical care had significantly higher odds of showing symptoms of PTSD (AOR = 2.71, CI = [1.77–4.16]), as well as depression (AOR = 1.94, CI = [1.29–2.92]) and anxiety (AOR = 1.61, CI = [1.08–2.39]) compared to those with access. Lack of access to care was associated with a 2.12 point increase in perceived stress scale score (SE = 0.63). The interaction between having a chronic illness and lack of access to medical care was not significantly associated with any outcomes. The findings emphasize the importance of making medical care more accessible to patients, both chronically and acutely ill, during natural disasters to benefit their physical as well as their mental health

Inhibition of γ-secretase induces G2/M arrest and triggers apoptosis in breast cancer cells

γ-Secretase activity is vital for the transmembrane cleavage of Notch receptors and the subsequent migration of their intracellular domains to the nucleus. Notch overexpression has been associated with breast, colon, cervical and prostate cancers. We tested the effect of three different γ-secretase inhibitors (GSIs) in breast cancer cells. One inhibitor (GSI1) was lethal to breast cancer cell lines at concentrations of 2 μM and above but had a minimal effect on the non-malignant breast lines. GSI1 was also cytotoxic for a wide variety of cancer cell lines in the NCI60 cell screen. GSI1 treatment resulted in a marked decrease in γ-secretase activity and downregulation of the Notch signalling pathway with no effects on expression of the γ-secretase components or ligands. Flow cytometric and western blot analyses indicated that GSI1 induces a G2/M arrest leading to apoptosis, through downregulation of Bcl-2, Bax and Bcl-XL. GSI1 also inhibited proteasome activity. Thus, the γ-secretase inhibitor GSI1 has a complex mode of action to inhibit breast cancer cell survival and may represent a novel therapy in breast cancer

Assessment of energy recovery from carbonation process using mass and energy balance

Paper presented at the 8th International Conference on Heat Transfer, Fluid Mechanics and Thermodynamics, Mauritius, 11-13 July, 2011.mp201

A note on charitable giving by corporates and aristocrats: Evidence from a field experiment

Multiple sources of funding are becoming increasingly important for charitable organizations. Donations from corporate donors for example account for 25–35% of charitable income for the largest US charities, across charitable sectors. This note presents some tentative first evidence from a natural field experiment to shed light on how different types of potential donors: individuals, corporates and aristocratically titled individuals, respond to the same fundraising drive. Each donor type was randomly assigned to treatments varying in two dimensions: (i) whether information was conveyed about the existence of an anonymous lead donor, and (ii) how individual donations would be matched by the anonymous lead donor. We find that aristocrats are significantly more likely to respond and that corporates give significantly more than individuals. Treatment effects moreover suggest that (proportional) matching is to be avoided for corporate donors