Gromov-- Witten Invariants of Toric Fibrations

We prove a conjecture of Artur Elezi in a generalized form suggested by Givental. Namely, our main result relates genus-0 Gromov--Witten invariants of a bundle space with such invariants of the base, provided that the fiber is a toric manifold. When the base is the point, a new proof of mirror theorems by A. Givental and by H. Iritani for toric manifolds is obtained

Issues Surrounding the mp3 and Its Effects On Business

The mp3 is a rising issue in today\u27s news. Through research and documentation of interviews, this thesis covers: what the mp3 is; issues surrounding its use; technology versus intellectual property; ethics involved in file swapping; past and current litigations involving the mp3; and possible solutions to the mp3 issue. The mp3 is a great technology that can be a boon to both music listeners and the recording industry alike, if both sides are willing to find a compromise that can balance fair use of technology versus the right to be compensated for intellectual property

Examining the Development Effects of Modern-Era Streetcars: An Assessment of Portland and Seattle

Most U.S. cities pursuing streetcars are doing so primarily for their purported development effects, as opposed to for their transportation role, yet there is little evidence about the nature or magnitude of these development effects due to a scarcity of rigorous, empirical research. Most available work simply presents descriptive information about development outcomes (typically measured as changes in population, employment, land values, or permit activity) within streetcar corridors as indicators of the streetcar’s development effects. Alternate factors which may have influenced such results are often not considered, placing into question the validity of such measures.This study examines the development effects of streetcar investments in two U.S. cities that implemented streetcar service between 2000 and 2010: Portland, Oregon, and Seattle, Washington. The authors explore the development outcomes (here measured as the number of permits issued) through a combination of statistical analysis of development activity in the streetcar corridor and interviews with key streetcar stakeholders. The statistical results indicate that areas around Portland’s initial streetcar line experienced higher levels of development activity (more permits issued) than areas not served by the streetcar, although the differences in activity between served and not served areas since the opening of the second line have been insignificant. In Seattle, the areas around the streetcar line in the South Lake Union neighborhood experienced greater commercial development activity (commercial permits issued) but less residential activity than nearby unserved areas. The interviews provide important local context for the interpretation of the empirical results and highlight the continued importance of development as a rationale for streetcar investments, as well as to the limitations of the streetcar as a transportation service

Rational and Behavioral Perspectives on the Role of Annuities in Retirement Planning

This paper discusses the role of annuities in retirement planning. It begins by explaining the basic theory underlying the individual welfare gains available from annuitizing resources in retirement. It then contrasts these findings with the empirical findings that so few consumers behave in a manner that is consistent with them placing a high value on annuities. After reviewing the strengths and weaknesses of the large literature that seeks to reconcile these findings through richer extensions of the basic model, this paper turns to a somewhat more speculative discussion of potential behavioral stories that may be limiting demand. Overall, the paper argues that while further extensions to the rational consumer model of annuity demand are useful for helping to clarify under what conditions annuitization is welfare-enhancing, at least part of the answer to why consumers are so reluctant to annuitize will likely be found through a more rigorous study of the various psychological biases that individuals bring to the annuity decision.

Are the Elderly Really Over-Annuitized? New Evidence on Life Insurance and Bequests

This paper provides evidence against the hypothesis that elderly individuals with strong bequest motives purchase term life insurance to offset mandatory annuitization by the existing Social Security system. Using new data on elderly households, this study is able to examine ownership of pure term life insurance separately from whole life, or cash-value, policies. This is an important distinction in the Annuity Offset Model' because the central implication is that term insurance is purchased in order to undo' excessive government annuitization in the form of Social Security, while whole life policies among the elderly primarily consist of tax deferred savings. Evidence is presented that many households simultaneously choose to hold privately purchased annuities and term life insurance, a choice that is inconsistent with the notion that these individuals are over-annuitized. Results also indicate that the hypothesized positive relationship between term insurance ownership and Social Security benefits does not hold once one analyzes term separately from cash value policies. Previous empirical results appear to have been overly favorable to the Annuity Offset Model due to the inability to adequately account for the strong correlation between whole life insurance ownership and Social Security benefits, a correlation that can be attributed to tax-deferred savings and attempts to protect human capital during one's younger working life. Because these findings suggest that households are not seeking to undo' Social Security for bequest reasons, these results have implications for the current debate over annuitization options in an individual accounts retirement system.