Measuring the transaction costs of historical shifts to informal drought management institutions in Italy

Published: 29 June 2020Coase shows how costly resources are (re)allocated via costly institutions, and that transaction costs must therefore be positive. However, Coase did not elaborate on transitions between institutions which incur positive transaction costs that are characterized by numerous institutional complementarities; that is, feedback loops that inform the need for, and pathways toward, institutional change. Economic investigations of complementary modes of (re)allocation are rarely undertaken, let alone studies of transitions between modes. However, modes of (re)allocation that achieve similar results at less cost are generally viewed as having production-raising value. This paper measures the costs of transitioning drought management institutions in Italy toward informal, participatory, and consensus-based approaches during several recent drought events. The chosen model is Drought Steering Committees, which offer a substitute for current formal (less flexible) planning approaches, and where lower transaction costs that are associated with the transition are inferred. Our results highlight the relevance of empirical assessments of ‘costly’ transitions based on a historical study of transaction costs, as well as supporting previous works that highlight the value of contextual analysis in economic studies, in order to identify the benefits of institutional investment.Adam Loch, Silvia Santato, C. Dionisio Pérez-Blanco and Jaroslav Mysia

Analysis of Bonding between Conjugated Organic Molecules and Noble Metal Surfaces Using Orbital Overlap Populations

The electronic structure of metal−organic interfaces is of paramount importance for the properties of organic electronic and single-molecule devices. Here, we use so-called orbital overlap populations derived from slab-type band-structure calculations to analyze the covalent contribution to the bonding between an adsorbate layer and a metal. Using two prototypical molecules, the strong acceptor 2,3,5,6-tetrafluoro-7,7,8,8-tetracyanoquinodimethane (F4TCNQ) on Ag(111) and the strong donor 1H,1′H-[4,4′]bipyridinylidene (HV0) on Au(111), we present overlap populations as particularly versatile tools for describing the metal−organic interaction. Going beyond traditional approaches, in which overlap populations are represented in an atomic orbital basis, we also explore the use of a molecular orbital basis to gain significant additional insight. On the basis of the derived quantities, it is possible to identify the parts of the molecules responsible for the bonding and to analyze which of the molecular orbitals and metal bands most strongly contribute to the interaction and where on the energy scale they interact in bonding or antibonding fashion

Synthesis of Novel Double-Layer Nanostructures of SiC–WOxby a Two Step Thermal Evaporation Process

A novel double-layer nanostructure of silicon carbide and tungsten oxide is synthesized by a two-step thermal evaporation process using NiO as the catalyst. First, SiC nanowires are grown on Si substrate and then high density W18O49nanorods are grown on these SiC nanowires to form a double-layer nanostructure. XRD and TEM analysis revealed that the synthesized nanostructures are well crystalline. The growth of W18O49nanorods on SiC nanowires is explained on the basis of vapor–solid (VS) mechanism. The reasonably better turn-on field (5.4 V/μm) measured from the field emission measurements suggest that the synthesized nanostructures could be used as potential field emitters