Behavioral Biases in Annuity Choice: An Experiment

We conduct a neutral-context laboratory experiment to systematically investigate the role of the hit-by-bus concern in explaining the annuitization puzzle: the low rate of retirement-asset annuitization relative to the predictions of standard models. We vary endowed asset (annuity vs. stock of wealth vs. no explicit endowment), and find a strong endowment effect. Furthermore, we find that the ordering of survival risks matters. Compared to a frame in which a single draw from a known distribution determines survival outcome, annuity choice is lower when subjects must sequentially survive early periods to reach periods in which the annuity dominates. We conclude with policy implications.experimental economics, behavioral, retirement, annuities

THE MARKET FOR CITRUS HARVESTING LABOR

Labor and Human Capital,

Experimental results for the Eppler 387 airfoil at low Reynolds numbers in the Langley low-turbulence pressure tunnel

Experimental results were obtained for an Eppler 387 airfoil in the Langley Low Turbulence Pressure Tunnel. The tests were conducted over a Mach number range from 0.03 to 0.13 and a chord Reynolds number range for 60,000 to 460,000. Lift and pitching moment data were obtained from airfoil surface pressure measurements and drag data for wake surveys. Oil flow visualization was used to determine laminar separation and turbulent reattachment locations. Comparisons of these results with data on the Eppler 387 airfoil from two other facilities as well as the Eppler airfoil code are included

Rules and Standards in Justice Scalia\u27s Fourth Amendment

This Article examines Justice Scalia’s effort to limit judicial discretion through the lens of the debate between rules and standards. It is the first article to situate Scalia’s goal of limited discretion within the framework of the debate between rules and standards, as well as the first to discuss this issue specifically with respect to his Fourth Amendment decisions. Justice Scalia has been called the leading supporter of the “rules-as-democracy argument.” He argued that rules were preferable because they are more likely to ensure equal treatment among like cases, they make the law clear in a system where the Supreme Court can review only a small number of cases, and they ensure predictability. In criminal Fourth Amendment cases, Justice Scalia usually applied rules. He noted that rules allowed judges to serve countermajoritarian interests by protecting the rights of unpopular criminal defendants. However, Scalia occasionally strayed from his rules-oriented philosophy and applied a standard. This was especially true in cases involving civil special needs as well as cases dealing with remedies for Fourth Amendment violations. Attempts to classify Justice Scalia as favoring the government or favoring individual Fourth Amendment rights are fraught with difficulty. It is probably best to characterize him as in favor of rules in the criminal context, and in favor of standards in other contexts

Rules and Standards in Justice Scalia\u27s Fourth Amendment

When looking at Justice Scalia’s approach to the Fourth Amendment, most would say he was an originalist and a textualist. Justice Scalia himself would like to explain, “I’m an originalist and a textualist, not a nut.” Although originalism and textualism were often prevalent in his Fourth Amendment decisions, even more important to his decision-making was his disdain for judicial activism. To limit judicial discretion, Justice Scalia frequently opted to impose bright-line rules rather than vague standards. This is apparent not only within his jurisprudence as a whole, but also specifically in his Fourth Amendment decisions. This Article examines Justice Scalia’s effort to limit judicial discretion through the lens of the debate between rules and standards. It is the first article to situate Scalia’s goal of limited discretion within the framework of the debate between rules and standards, as well as the first to discuss this issue specifically with respect to his Fourth Amendment decisions. Rules are binding directives that leave little room for considering the specific facts of any given situation. Critics argue that they tend to be over- or under-inclusive, but the value of rules is that by taking power away from the decisionmaker, they limit judicial discretion. Further, some argue that rules promote democracy because they properly leave the power to make decisions based on politics or value judgments to the legislature. On the flip side, proponents of standards argue that standards produce judgments that are less arbitrary and more substantively fair because they allow decisionmakers to consider all of the relevant facts and circumstances of the case

How sustainable agriculture can address the environmental and human health harms of industrial agriculture.

The industrial agriculture system consumes fossil fuel, water, and topsoil at unsustainable rates. It contributes to numerous forms of environmental degradation, including air and water pollution, soil depletion, diminishing biodiversity, and fish die-offs. Meat production contributes disproportionately to these problems, in part because feeding grain to livestock to produce meat--instead of feeding it directly to humans--involves a large energy loss, making animal agriculture more resource intensive than other forms of food production. The proliferation of factory-style animal agriculture creates environmental and public health concerns, including pollution from the high concentration of animal wastes and the extensive use of antibiotics, which may compromise their effectiveness in medical use. At the consumption end, animal fat is implicated in many of the chronic degenerative diseases that afflict industrial and newly industrializing societies, particularly cardiovascular disease and some cancers. In terms of human health, both affluent and poor countries could benefit from policies that more equitably distribute high-protein foods. The pesticides used heavily in industrial agriculture are associated with elevated cancer risks for workers and consumers and are coming under greater scrutiny for their links to endocrine disruption and reproductive dysfunction. In this article we outline the environmental and human health problems associated with current food production practices and discuss how these systems could be made more sustainable

Role of renal prostaglandins during antidiuresis and water diuresis in man

Role of renal prostaglandins during antidiuresis and water diuresis in man. The relationship of renal prostaglandins to antidiuretic hormone action and water diuresis was examined in 13 normal subjects and 2 subjects with diabetes insipidus. Following overnight water deprivation, an oral water load caused a prompt and sustained rise in the rate of urinary PGE2 excretion from 7.7 ± 1.2 to 81.6 ± 26.4 ng/hr (P < 0.0001) in 7 normal subjects. Because the simultaneous increase in urinary excretion of urea was only 17% of the rise in urinary PGE2, passive wash-out of renal PGE2 probably accounts for only a small fraction of the increment in PGE2 excretion. Administration of the antidiuretic hormone analogue DDAVP to 6 normal subjects during sustained water diuresis resulted in a decrease in PGE2 excretion and urine flow rate comparable to that of dehydrated subjects. Thus, PGE2 excretion varied directly with urine flow rate over a wide range of states of hydration in all 13 normal subjects. One patient with central diabetes insipidus and one with nephrogenic diabetes insipidus demonstrated a similar positive correlation of PGE2 excretion rate and urinary flow rate in states of hydration, dehydration, and after administration of DDAVP. In the patient with nephrogenic diabetes insipidus, this relationship of PGE2 excretion rate to urine flow rate was unaffected by DDAVP over a broad range of urine flow rates. Inhibition of prostaglandin synthesis with indomethacin in 6 normal subjects resulted in a significant decline in free water clearance (7.7 ± 1.0 to 4.7 ± 0.9 ml/min, P < 0.001) and an increase in the minimal UOSM (61 ± 4 to 93 ± 19 mOsm/kg, P < 0.01) achieved during water diuresis without a change in creatinine or osmolar clearances. Furthermore, the tightly linked relationship of PGE2 excretion rate to urine flow rate was reduced in 5 of 6 subjects during indomethacin treatment. We conclude that urinary PGE2 excretion varies directly with urine flow rate and is not directly dependent on ADH activity or state of hydration in man. The rise in PGE2 excretion during water diuresis may enhance the excretion of free water since indomethacin treatment blunted free water clearance while suppressing the rise in PGE2 excretion.Rôle des prostaglandines rénales au cours de l'antidiurèse et de la diurèse aqueuse chez l'homme. La relation entre les prostaglandines rénales et l'action de l'hormone antidiurétique et la diurèse aqueuse a été étudiée chez 13 sujets normaux et 2 sujets atteints de diabète insipide. A la suite d'une restriction d'eau pendant la nuit précédant l'étude, une charge d'eau par voie orale a déterminé une augmentation rapide et prolongée du débit urinaire de PGE2 de 7,7 ± 1,2 à 81,6 ± 26,4 ng/hr (P < 0,001) chez 7 sujets normaux. Puisque l'augmentation simultanée de l'excrétion urinaire d'urée était seulement de 17% de l'augmentation de la PGE2 urinaire, un lavage passif de la PGE2 rénale explique probablement une partie seulement de l'augmentation de l'excrétion de PGE2. L'administration d'un analogue de l'hormone antidiurétique, DDAVP, à 6 sujets normaux au cours d'une diurèse aqueuse prolongée a eu pour conséquence une diminution de l'excrétion de PGE2 et du débit urinaire comparable à celle des sujets déshydratés. Ainsi l'excrétion de PGE2 varie directement avec le débit urinaire sur un large éventail d'états d'hydratation chez tous les 13 sujets normaux. Un malade atteint de diabète insipide central et un malade atteint de diabète insipide néphrogénique ont eu une corrélation positive semblable du débit d'excrétion de PGE et du débit urinaire dans les états d'hydratation, de déshydratation, et après l'administration de DDAVP. Chez le malade atteint de diabète insipide néphrogénique, cette relation de l'excrétion de PGE2 au débit urinaire n'a pas été affectée par DDAVP sur un large éventail de valeurs du débit urinaire. L'inhibition de la synthèse de prostaglandine par l'indométhacine chez 6 sujets normaux a eu pour conséquence une diminution significative de la clairance de l'eau libre (7,7 ± 1,0 à 4,7 ± 0,9 ml/mn, P < 0,001) et une augmentation de la valeur minimale de UOSM (61 ± 4 à 93 ± 19 mOsm/kg, P < 0,01) obtenues au cours d'une diurèse aqueuse sans modification de la clairance de la créatinine ou de la clairance osmolaire. De plus, la relation étroite entre l'excrétion de PGE2 et le débit urinaire a été réduite chez 5 des 6 sujets au cours du traitement par l'indométhacine. Nous concluons que l'excrétion urinaire de PGE2 varie directement avec le débit urinaire et n'est pas directement dépendante de l'activité de l'ADH ou de l'état d'hydratation chez l'homme. L'augmentation de l'excrétion de PGE2 au cours de la diurèse aqueuse peut accroître l'excrétion d'eau libre puisque le traitement par l'indométhacine atténue la clairance de l'eau libre en même temps qu'il supprime l'augmentation de l'excrétion de PGE2

Art therapy for PTSD and TBI: A senior active duty military service member’s therapeutic journey

AbstractArt therapy is increasingly being accepted as a form of complementary and integrative care for military veterans affected by trauma and injuries in the line of duty. Less is known, however, about the applications of art therapy for co-morbid traumatic brain injury (TBI) and post-traumatic stress disorder (PTSD). In addition, most studies to date have focused on art therapy with veterans (former military service members) rather than with active duty service members; furthermore, there are no studies that have examined the unique context of PTSD in senior military personnel. This case study presents the therapeutic process through art therapy in the case of a senior active duty military service member (with chronic PTSD and TBI), in the context of an integrated model of care that included medical and complementary therapies