Radio Spectrum and the Disruptive Clarity OF Ronald Coase.

In the Federal Communications Commission, Ronald Coase (1959) exposed deep foundations via normative argument buttressed by astute historical observation. The government controlled scarce frequencies, issuing sharply limited use rights. Spillovers were said to be otherwise endemic. Coase saw that Government limited conflicts by restricting uses; property owners perform an analogous function via the "price system." The government solution was inefficient unless the net benefits of the alternative property regime were lower. Coase augured that the price system would outperform the administrative allocation system. His spectrum auction proposal was mocked by communications policy experts, opposed by industry interests, and ridiculed by policy makers. Hence, it took until July 25, 1994 for FCC license sales to commence. Today, some 73 U.S. auctions have been held, 27,484 licenses sold, and $52.6 billion paid. The reform is a textbook example of economic policy success. We examine Coase‘s seminal 1959 paper on two levels. First, we note the importance of its analytical symmetry, comparing administrative to market mechanisms under the assumption of positive transaction costs. This fundamental insight has had enormous influence within the economics profession, yet is often lost in current analyses. This analytical insight had its beginning in his acclaimed early article on the firm (Coase 1937), and continued into his subsequent treatment of social cost (Coase 1960). Second, we investigate why spectrum policies have stopped well short of the property rights regime that Coase advocated, considering rent-seeking dynamics and the emergence of new theories challenging Coase‘s property framework. One conclusion is easily rendered: competitive bidding is now the default tool in wireless license awards. By rule of thumb, about$17 billion in U.S. welfare losses have been averted. Not bad for the first 50 years of this, or any, Article appearing in Volume II of the Journal of Law & Economics.

An Overview of Long-Term Care Services and Support in America

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Underlying modal data issues for detecting damage in truss structures

Independent of the modal identification techniques employed for damage detection, use of measured modal data limits the expectations for damage location. These limitations are examined using the distribution of modal strain energy and the sensitivity of the frequency and mode shapes to structural stiffness changes. For given measured modal information of specific accuracy, this examination reveals the following: (1) damage detection is feasible for members that contribute significantly to the strain energy of the measured modes, (2) the modes which are most effective in detecting damage to certain critical members can be identified, and (3) a relationship can be drawn between the accuracy of the measured modes and frequencies and damage detection feasibility

From Water Quality to Riparian Corridors: Assessing Willingness to Pay for Conservation Easements Using the Contingent Valuation Method

This article reports a survey to elicit public response to a proposal to fund a purchase of a conservation easements program to protect an environmentally sensitive riparian corridor. The results from two versions of the contingent valuation method (CVM)--a payment card and a referendum--reveal that mean household willingness to pay (WTP) is $16.80 and$29.16, respectively. Factors influencing WTP include proposed cost, age of respondent, and individual sense of local environmental priorities. This type of study represents an important opportunity for Extension educators to assist local officials as they struggle to make policy decisions regarding a variety of public projects

An update on immunopathogenesis, diagnosis, and treatment of multiple sclerosis

BACKGROUND: Multiple sclerosis is an acquired demyelinating disease of the central nervous system. It is the second most common cause of disability in adults in United States after head trauma. DISCUSSION: The etiology of MS is probably multifactorial, related to genetic, environmental, and several other factors. The pathogenesis is not fully understood but is believed to involve T-cell-mediated inflammation directed against myelin and other related proteins with a possible role for B cells. The McDonald criteria have been proposed and revised over the years to guide the diagnosis of MS and are based on clinical presentation and magnetic resonance imaging (MRI) of the brain and spinal cord to establish dissemination in time and space. The treatment of MS includes disease modification with immunomodulator drugs and symptom management to address the specific symptoms such as fatigue, spasticity, and pain. CONCLUSION: An update on etiology, pathogenesis, diagnosis, and immunomodulatory treatment of MS is presented