The Effects of Framing, Risk, and Uncertainty on Contributions toward a Public Account: Experimental Evidence

This paper uses laboratory evidence from four strategically equivalent voluntary contribution games to evaluate differences in contributions toward a public account due to framing, risk, and uncertainty. I test four hypotheses. (1) Individuals contribute more to a public account when the dilemma is framed as the mitigation of a public loss than the provision of a public good. (2) Individuals contribute more to a public account when the loss is certain than when faced with the risk of a loss. (3) Individuals contribute more to a public account when the loss is certain than when environmental uncertainty is associated with the public loss. (4) Individuals contribute more to a public account when the probability of loss is known than when the probability of loss is unknown. I find that contributions are greatest when the dilemma is framed as the mitigation of a certain public loss. Contributions diminish when environmental risk and uncertainty are introduced, but remain higher than for public good provision. Preliminary laboratory evidence suggests that government intervention may be more necessary in the provision of a public good than in the mitigation of a public bad. Furthermore, much of the debate surrounding optimal allocations of insurance and infrastructure investment seems to be the result of environmental uncertainty as opposed to strategic uncertainty

The Size, Distribution, and Growth of the Texas Population, 1980-1990

The Size, Distribution, and Growth of the Texas Population, 1980-1990Bureau of Business Researc

The Size and Distribution of Two Minority Population Groups in Texas

The Size and Distribution of Two Minority Population Groups in TexasBureau of Business Researc

Optimization of the extraordinary magnetoresistance in semiconductor-metal hybrid structures for magnetic-field sensor applications

Semiconductor-metal hybrid structures can exhibit a very large geometrical magnetoresistance effect, the so-called extraordinary magnetoresistance (EMR) effect. In this paper, we analyze this effect by means of a model based on the finite element method and compare our results with experimental data. In particular, we investigate the important effect of the contact resistance $\rho_c$ between the semiconductor and the metal on the EMR effect. Introducing a realistic $\rho_c=3.5\times 10^{-7} \Omega{\rm cm}^2$ in our model we find that at room temperature this reduces the EMR by 30% if compared to an analysis where $\rho_c$ is not considered.Comment: 4 pages; manuscript for MSS11 conference 2003, Nara, Japa

China’s Economic Growth 1978-2025: What We Know Today about China’s Economic Growth Tomorrow

Views of the future China vary widely. While some believe that the collapse of China is inevitable, others see the emergence of a new superpower that increasingly poses a threat to the U.S. This paper examines the economic growth prospects of China over the next two decades. Extrapolating past real GDP growth rates into the future, the size of the Chinese economy surpasses that of the U.S. in purchasing power terms between 2012 and 2015; by 2025, China is likely to be the world's largest economic power by almost any measure. The extrapolations are supported by two types of considerations. First, China’s growth patterns of the past 25 years since the beginning of economic reforms match well those identified by standard economic development and trade theories (structural change, catching up, and factor price equalization). Second, decomposing China’s GDP growth into growth of labor and other variables, the near-certain information available today about the quantity and quality of Chinese laborers through 2015 and possibly several years after allows inferences about future GDP growth. Short of some cataclysmic event, and given a continuation of the generally sound economic policies of the past, demographics alone suggests China’s continued economic rise. If talent is randomly distributed in the world population and if agglomeration of talent is important, then the odds are strongly in China’s favor.economic growth, growth accounting, growth forecasts, development theories, human capital formation, education (all: China)

Analyzing the Catalytic Mechanism of the Fe-Type Nitrile Hydratase from \u3cem\u3eComamonas testosteroni\u3c/em\u3e Ni1

In order to gain insight into the catalytic mechanism of Fe-type nitrile hydratases (NHase), the pH and temperature dependence of the kinetic parameters kcat, Km, and kcat/Km along with the solvent isotope effect were examined for the Fe-type NHase from Comamonas testosteroni Ni1 (CtNHase). CtNHase was found to exhibit a bell-shaped curve for plots of relative activity vs pH over pH values 4−10 for the hydration of acrylonitrile and was found to display maximal activity at pH ∼7.2. Fits of these data provided a pKES1 value of 6.1 ± 0.1, a pKES2 value of 9.1 ± 0.2 (k′cat = 10.1 ± 0.3 s−1), a pKE1 value of 6.2 ± 0.1, and a pKE2 value of 9.2 ± 0.1 (k′cat/K′m of 2.0 ± 0.2 s−1 mM−1). Proton inventory studies indicate that two protons are transferred in the rate-limiting step of the reaction at pH 7.2. Since CtNHase is stable to 25 °C, an Arrhenius plot was constructed by plotting ln(kcat) vs 1/T, providing an Ea of 33.3 ± 1.5 kJ/mol. ΔH° of ionization values were also determined, thus helping to identify the ionizing groups exhibiting the pKES1 and pKES2 values. Based on ΔH°ion data, pKES1 is assigned to βTyr68 while pKES2 is assigned to βArg52, βArg157, or αSer116 (NHases are α2β2 heterotetramers). Given the strong similarities in the kinetic data obtained for both Co- and Fe-type NHase enzymes, both types of NHase enzymes likely hydrate nitriles in a similar fashion

China’s Economic Growth 1978-2025: What We Know Today about China’s Economic Growth Tomorrow

Views of the future China vary widely. While some believe that the collapse of China is inevitable, others see the emergence of a new superpower that increasingly poses a threat to the U.S. This paper examines the economic growth prospects of China over the next two decades. Extrapolating past real GDP growth rates into the future, the size of the Chinese economy surpasses that of the U.S. in purchasing power terms between 2012 and 2015; by 2025, China is likely to be the world's largest economic power by almost any measure. The extrapolations are supported by two types of considerations. First, China’s growth patterns of the past 25 years since the beginning of economic reforms match well those identified by standard economic development and trade theories (structural change, catching up, and factor price equalization). Second, decomposing China’s GDP growth into growth of labor and other variables, the near-certain information available today about the quantity and quality of Chinese laborers through 2015, if not several years after, allows inferences about future GDP growth. Short of some cataclysmic event, demographics alone suggests China’s continued economic rise. If talent is randomly distributed in the world population and if agglomeration of talent is important, then the odds are strongly in China’s favor.economic growth, growth accounting, growth forecasts, development theories, human capital formation, education (all: China)

New Capital Estimates for China

Data on physical capital are an indispensable part of economic growth and efficiency studies. In the case of China, fixed asset time series are usually derived either by aggregating gross fixed capital formation data over time, net of depreciation, or by correcting the limited official fixed asset data available. These procedures, to varying degrees, ignore that (i) gross fixed capital formation does not equal investment, (ii) investment does not equal the value of fixed assets newly created through investment, (iii) depreciation is an accounting measure that has no impact on changes in the production capacity of fixed assets, (iv) official fixed asset data, where available, incorporate significant revaluations in the 1990s, and (v) the variable 'net fixed assets,' frequently used in the literature, is an inappropriate measure of fixed assets for the purpose of growth or efficiency studies. This paper derives economy-wide fixed asset values for 1954-2002, correcting for these shortcomings. It also uses the so far unexplored method of combining economy-wide depreciation data (in the income approach to the calculation of gross domestic product) with an economy-wide depreciation rate to directly yield economy-wide fixed assets. The fixed asset time series derived here are contrasted with each other as well as with those presented in the literature. The reliability of the different series is evaluated, leading to the recommendation of a specific choice of fixed asset time series.Capital, fixed assets, investment, national income accounting, production function estimations, measurement of economic growth, Chinese statistics