HAVE INCENTIVE BASED POLICIES BEEN OVERSOLD?

Comparisons of alternative pollution control instruments over the past thirty years show quite disparate results for seemingly comparable situations. This research demonstrates how the magnitude of the estimated cost savings associated with incentive-based instruments is influenced by two important factors: (i) separability assumptions between emissions and output, and (ii) participation criteria.Environmental Economics and Policy,

High Resolution Spectroscopy of SN1987A's Rings: He I 10830 and H-alpha from the Hotspots

We present the first high-dispersion spectroscopy of He I 10830 from the hotspots in the ring around SN1987A, obtained at Gemini South, spatially resolving the near and far sides of the ring. We compare these line profiles to similar echelle spectra of H$\alpha$ and [N II] 6583 obtained at the Magellan Observatory. We find that the He I profiles are much broader than H-alpha or [N II], but the He I profiles also have different shapes -- they have enhanced emission at high speeds, with extra blueshifted emission on the north side of the ring, and extra redshifted emission on the south side. To explain this, we invoke a simple geometric picture where the extra He I emission traces hotter gas from faster shocks that strike the apex of the hotspots directly, while the H-alpha preferentially traces cooler lower-ionization gas from slower transverse shocks that penetrate into the sides of the ring.Comment: 3 pages. To appear in proceedings: "Supernova 1987A: 20 Years After: Supernovae and Gamma-Ray Bursters" AIP, New York, eds. S. Immler, K.W. Weiler, and R. McCra

Using the online cross-entropy method to learn relational policies for playing different games

By defining a video-game environment as a collection of objects, relations, actions and rewards, the relational reinforcement learning algorithm presented in this paper generates and optimises a set of concise, human-readable relational rules for achieving maximal reward. Rule learning is achieved using a combination of incremental specialisation of rules and a modified online cross-entropy method, which dynamically adjusts the rate of learning as the agent progresses. The algorithm is tested on the Ms. Pac-Man and Mario environments, with results indicating the agent learns an effective policy for acting within each environment

Environmental Protection, the Military, and Preserving the Balance: “Why it Matters, in War and Peace”

International military operations around the world are major actors on the world stage of global pollution. The United States military remains subject to federal, state, and local environmental laws. However, many exemptions exist to assist the military despite its status as a global polluter. Many environmental policies have incrementally developed over the last one-hundred years largely as a reaction to the most extreme circumstances. Scientific knowledge continues to increase our awareness of the lasting impacts of policy decisions relating to the environment, giving rise to the precautionary principle, that notion that we should do no lasting harm, in our care for the environment. Pushing against that principle is the chaos of international relations which drives a compelling need for defense preparedness. Growing evidence suggests that military policy makers are understanding the link between defense preparedness and environmental degradation, giving rise to the integration of new military and environmental policies. Understanding the legitimate needs of the military and the risks to the environment past, present, and future are considerations of this paper. Recommendations for further study and how to assist the United States in the role of being a good global citizen

Does Nature Limit Environmental Federalism?

This research considers whether the principles developed to analyze the optimal jurisdiction for producing public goods can be applied in cases where regulations of private activities provide the primary means to deliver different amounts of public and quasi-public goods. The analysis evaluates how devolution affects the development of benefit cost analyses for regulations and the role of economic versus environmental factors in defining the extent of the regulatory market. Using a study of nutrient control for the Neuse River in North Carolina, the analysis develops area specific measures of the benefits and costs of regulations and illustrates how changes in the composition of the areas allowed to "count" for policy design can affect decisions about the levels of control judged to meet the net benefit test.

Leveraged Buyouts

This study comprehensively reviews theoretical and empirical literature pertaining to leveraged buyouts. An agency theory framework best describes the source of LBO value creation. Agency conflicts are mitigated through extensive utilisation of debt capital and concentrated equity ownership, which are functions of asset and organisation structures. The evidence generally supports the hypothesis that economic wealth is created by leveraged buyouts, rather than merely redistributed among stakeholders. This thesis uses a multiple case design to examine leveraged buyouts in Australia. It compiles data from a broad range of public and private sources, and conducts qualitative and quantitative analysis on six (6) leveraged buyouts. Case results indicate that industry and business attributes synonymous with US and UK buyouts are important determinants of Australian leveraged buyouts. Business attributes are the primary motivating farces. Ownership structures comply with foreign expectations, and capital structures are more closely aligned with those reported in UK research. Industry adjusted performance was analysed for a subset of three (3) leveraged buyouts with post-buyout periods of sufficient duration. Profit margins and capital utilisation exceeded industry medians in each post-buyout year, for each leveraged buyout. Cost control, rather than increased sales, accounted for most gains. Australian buyouts did not manage working capital effectively, a result which contrasts markedly with US and UK leveraged buyouts. The evidence from the Australian leveraged buyouts analysed in this thesis is consistent with an agency theory framework

Correlating Fracture Toughness and Surface Roughness for a Ductile Epoxy Adhered to Aluminum Substrates

Adhesively bonded joints are used across multiple disciplines as an efficient and cost effective method for reinforcing, repairing, or creating new structures. Sufficient understanding of the bond line characteristics of the adhesive is necessary to properly design a reliable bonded joint and ensure a long service life. It is well understood that surface preparation has a significant impact on these interface characteristics as a given level of surface roughness achieves mechanical interlocking between the resin and metal and is important to prevent premature interfacial failure [1]. The goal of this study is to characterize the fracture toughness values for an adhesive bonded to aluminum substrates of varying surface preparation quality. Foundational equations are developed for relating surface roughness measurements to experimentally determined fracture toughness. Experimental tests are completed to determine the critical strain energy release rate, Gc, for mode I tension, GIc, mode II shear, GIIc, and mixed-mode, GI+II, loadings. The double cantilever beam (DCB), end-notched flexure (ENF), and single leg bend (SLB) tests are used for modes I, II, and I+II (mixed-mode) respectively with four types of surface preparations. Common data reduction methods are used for calculating Gc. Characterization of the interface surface, including quantification of void, cohesion, and adhesion failure mechanisms at the bondline, is studied to quantify each sample’s failure modes and void properties as it relates to surface roughness and fracture energy. The characterization is used to develop an analytical model of the relationship between these three parameters and the resulting fracture energy. Fundamental equations are developed that relates the surface roughness parameters to the fracture energies. Numerical simulations in Abaqus finite element software use a potential-based cohesive zone model to predict adhesive failure and simulate crack propagation of a mixed-mode case. These simulations are validated against the SLB experimental results for accuracy. The surface roughness measurements, coupled with the mathematical equations relating fracture energy to surface roughness, provides an input to the numerical models. The simulations are used to predict bondline performance within specified confidence intervals of the roughness measurement distributions and provides a basis for determining load carrying characteristics of the metal to adhesive interface

Evaluation of a Stable Isotope Labeling Technique for Mass-Marking Fin Rays of Age-0 Lake Sturgeon

The effectiveness of marking age-0 lake sturgeon, Acipenser fulvescens Rafinesque, pectoral fin rays with a stable strontium isotope was evaluated. Age-0 lake sturgeon were reared in water spiked with 0 (control), 25, 50, or 100 μg L-1 86SrC03 for 10 and 24 d; fish from each treatment group were retained for up to 120 d post-labeling to assess mark retention. Enriched isotope marks imparted to fin rays were distinct from fin ray 88Sr/86Sr ratios of control fish immediately following marking, with the 100 μg L-1 86SrCO3 treatments consistently yielding the highest rate of marking success (83-92%). Lower marking success (25-69%) was observed with the 25 and 50 μg L-1 86SrCO3 treatments. Isotopic marks in fin rays were retained for 120 d post-labeling. Immersion marking of juvenile fish pectoral fin rays with distinct strontium isotope ratios is possible and does not require sacrificing fish to check for marks

Fin Ray Chemistry as a Potential Natural Tag for Smallmouth Bass in Northern Illinois Rivers

Natural chemical markers in otoliths and fin rays have proven useful for describing environmental history of fishes in a variety of environments. However, no studies have evaluated smallmouth bass (Micropterus dolomieu) pectoral fin ray chemistry as a non-lethal alternative to otolith chemistry. We evaluated the trace element composition of smallmouth bass fin rays collected from northern Illinois rivers and determined the accuracy with which fish could be classified to their environment of capture using pectoral fin ray strontium:calcium (Sr:Ca) and barium:calcium (Ba:Ca) ratios. Fish were collected from nine sites during summer 2008. Fin ray Sr:Ca differed among some sites, reflecting previously observed differences in water and otolith chemistry for other fish species. Fin ray Ba:Ca did not differ among sites. Classification accuracy for individual fish to location of capture based on fin ray Sr:Ca was relatively poor when data from all nine sites in different watersheds were included. However, individual fish captured from the upper Illinois River watershed were accurately assigned to the river in which they were collected when data were restricted to these sites. Natural chemical signatures in fin rays will likely be effective for reconstructing environmental history of smallmouth bass when spatial differences in water chemistry are present, enabling investigations of stock mixing and recruitment sources for this species