A Renaissance Instrument to Support Nonprofits: The Sale of Private Chapels in Florentine Churches

Catholic churches in Renaissance Florence supported themselves overwhelmingly from the contributions of wealthy citizens. The sale of private chapels within churches to individuals was a significant source of church funds, and facilitated a church construction boom. Chapel sales offered three benefits to churches: prices were usually far above cost; donor/purchasers purchased masses and other tie-in services; and they added to the magnificence of the church because donors were required to decorate chapels expensively. Donors purchased chapels for two primary reasons: to facilitate services for themselves and their families, such as masses and church burials, that would speed their departure from Purgatory; and to gain status in the community. Chapels were private property within churches, but were only occasionally used directly by their owners. The expense of chapels and their decorations made them an ideal signal for wealth, particularly since sumptuary laws limited most displays of wealth. To overcome the contributions free-rider problem, these churches sold private benefits not readily available elsewhere, namely status and salvation.

An Economist's Guide to U.S. v. Microsoft

We analyze the central economic issues raised by U.S. v Microsoft. Network effects and economies of scale in applications programs created a barrier to entry for new operating system competitors, which the combination of Netscape Navigator and the Java programming language potentially could have lowered. Microsoft took actions to eliminate this threat to its operating system monopoly, and some of Microsoft's conduct very likely harmed consumers. While we recognize the risks of the government's proposed structural remedy of splitting Microsoft in two, we are pessimistic that a limited conduct remedy would be effective in this case.

Market Structure, Organizational Structure, and R&D Diversity

We examine the effects of market structure and the internal organization of firms on equilibrium R&D projects. We compare a monopolist's choice of R&D portfolio to that of a welfare maximizer. We next show that Sah and Stiglitz's finding that the market portfolio of R&D is independent of the number of firms under Bertrand competition extends to neither Cournot oligopoly nor a cartel. We also show that the ability of firms to pre-empt R&D by rivals along particular research paths can lead to socially excessive R&D diversification. Lastly, using Sah and Stiglitz's definition of hierarchy, we establish conditions under which larger hierarchies invest in smaller portfolios.

How Much Do Immigration and Trade Affect Labor Market Outcomes?

macroeconomics, trade, labor markets, immigration

Use of SX Series Devices and IEEE 1149.1 JTAG Circuitry

This report summarizes the use of SX series devices and their JTAG 1149.1 circuitry. 'JTAG' circuitry was originally designed to standardize testing of boards via a simple control port interface electrically without having to use devices such as a bed of nails tester. JTAG is also used for other functions such as executing built-in-test sequences, identifying devices, or, through custom instructions, other functions designed in by the chip designer. The JTAG circuitry is designed for test only; it has no functional use in the integrated circuit during normal operations. The JTAG circuitry and the mode of the device is controlled by a circuit block known as the 'TAP controller,' which is a sixteen-state state machine along with various registers. The controller is normally in an operational state known as TEST-LOGIC-RESET. In this state, the device is held in a fully functional, operating mode. However, a Single Event Upset (SEU) may remove the TAP controller from this state, causing a loss of control of the integrated circuit, unless certain precautions are taken, such as grounding the optional JTAG TRST signal

Glacial cycles drive variations in the production of oceanic crust

Glacial cycles redistribute water between oceans and continents causing pressure changes in the upper mantle, with consequences for melting of Earth's interior. Using Plio-Pleistocene sea-level variations as a forcing function, theoretical models of mid-ocean ridge dynamics that include melt transport predict temporal variations in crustal thickness of hundreds of meters. New bathymetry from the Australian-Antarctic ridge shows significant spectral energy near the Milankovitch periods of 23, 41, and 100 ky, consistent with model predictions. These results suggest that abyssal hills, one of the most common bathymetric features on Earth, record the magmatic response to changes in sea level. The models and data support a link between glacial cycles at the surface and mantle melting at depth, recorded in the bathymetric fabric of the sea floor.Comment: 30 pages, 6 figures (including supplementary information). Resubmitted to Science on 12 December 201