691 research outputs found

    The Hold-Out Problem

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    Suppose a developer wants to buy n adjacent blocks of land that are currently in the possession of n different owners. The value of the blocks of land to the developer is greater than the sum of the individual values of the blocks for each owner. Under complete information about individual valuations, the developer could make a take-it-or-leave-it simultaneous offer to all owners equal to their valuations. The owners would accept the offers, the outcome would be efficient and the developer would get all the surplus. On the other hand, if the owner were to negotiate with the owners sequentially, the final division of the surplus would depend on who would have make the final offer. This individual would end up with the entire surplus and the efficient allocation would be implemented but at the expense of costly delay. Given the possible advantage that arises from being the last to make an offer, players may strategically delay the start of a negotiation. This is the hold-out problem that we examine in this paper. We develop a model in which players decide on the probability that they will go to the negotiating table with the developer. We characterise the full set of equilibria as they correspond to functions of owners valuations, and the developers valuation of subsets of land. Hold out occurs when the developer's valuation of individual blocks is the same as individual owners valuations, or if the valuation of all of the blocks of land by the developer is sufficiently large.

    The Identity of the Generator in the Problem of Social Cost

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    One of Coase\u27s central insights is that distinguishing between the generator and recipient of an externality is of limited value because externality problems are reciprocal. We reconsider the relevance of the identity of the generator in a model with non-contractible investment ex ante but frictionless bargaining over the externality ex post. In this framework, a party may distort its investment to worsen the other\u27s threat point in bargaining. We demonstrate that the presence of this distortion depends, among other factors, on whether the investing party is a generator. Social efficiency can sometimes be improved by conditioning property rights on the identity of the generator: for example, assigning damage rights if the rights holder is a generator and injunction rights if the rights holder is a recipient can be more efficient than either unconditional damage or injunction rights

    Orbiting passive microwave sensor simulation applied to soil moisture estimation

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    A sensor/scene simulation program was developed and used to determine the effects of scene heterogeneity, resolution, frequency, look angle, and surface and temperature relations on the performance of a spaceborne passive microwave system designed to estimate soil water information. The ground scene is based on classified LANDSAT images which provide realistic ground classes, as well as geometries. It was determined that the average sensitivity of antenna temperature to soil moisture improves as the antenna footprint size increased. Also, the precision (or variability) of the sensitivity changes as a function of resolution

    Genetics of seam fat in cattle

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    The document attached has been archived with permission from the World Congress on Genetics Applied to Livestock Production.As far as most consumers are concerned, a good steak is a steak with visibly desirable colour (doneness), a large portion of muscle and a small amount of fat, especially the seam fat located between the muscles. During the intensive growth to commercial slaughter weights in feedlots, there is a distinct change in the composition of the body with the amount of fat increasing and the musculature remaining reasonably constant (Pitchford and Bottema, 2000). Cattle breeds deposit fat at different rates and in different locations (subcutaneous, intermuscular or intramuscular). For example, early maturing Jersey cattle deposit more fat intramuscularly than late maturing Limousin cattle (Pitchford and Bottema, 2000). These differences suggest that there is a genetic basis for fat distribution. The aim of this study was to investigate the genetic variation in seam fat distribution within loin muscles of Jersey and Limousin cross cattle, independent from carcass size and fatness

    QTL for feed intake and associated traits

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    The document attached has been archived with permission from the World Congress on Genetics Applied to Livestock Production.In typical beef cattle production systems, the breeding herd accounts for 65-85% of the total feed requirements (Ferrell and Jenkins, 1984 ; Montaldo-Bermudez et al., 1990) and 65-75% of this is used for maintenance. Primarily, the very large maintenance requirement is because cattle are a large, slowly maturing species with a low annual reproductive rate. Furthermore, only a single product is harvested (meat). Any improvement in the efficiency with which breeding cows maintain body weight, will result in an increase in total meat production for a given amount of feed. The key to selection for increased efficiency is to be able to accurately measure feed intake, a trait that is both difficult and expensive to measure. A less expensive alternative would be to use a DNA test for markers of genes affecting intake. This approach has the potential to significantly reduce the generation interval. The aim of this project is to locate regions (quantitative trait loci, QTL) in the cattle genome that contain genes affecting intake.W.S. Pitchford, M.L. Fenton, A.J. Kister and C.D.K. Bottem

    Low‐energy electrons (5–50 keV) in the inner magnetosphere

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    Transport and acceleration of the 5–50 keV electrons from the plasma sheet to geostationary orbit were investigated. These electrons constitute the low‐energy part of the seed population for the high‐energy MeV particles in the radiation belts and are responsible for surface charging. We modeled one nonstorm event on 24–30 November 2011, when the presence of isolated substorms was seen in the AE index. We used the Inner Magnetosphere Particle Transport and Acceleration Model (IMPTAM) with the boundary at 10 R E with moment values for the electrons in the plasma sheet. The output of the IMPTAM modeling was compared to the observed electron fluxes in 10 energy channels (from 5 to 50 keV) measured on board the AMC 12 geostationary spacecraft by the Compact Environmental Anomaly Sensor II with electrostatic analyzer instrument. The behavior of the fluxes depends on the electron energy. The IMPTAM model, driven by the observed parameters such as Interplanetary Magnetic Field (IMF) B y and B z , solar wind velocity, number density, dynamic pressure, and the Dst index, was not able to reproduce the observed peaks in the electron fluxes when no significant variations are present in those parameters. We launched several substorm‐associated electromagnetic pulses at the substorm onsets during the modeled period. The observed increases in the fluxes can be captured by IMPTAM when substorm‐associated electromagnetic fields are taken into account. Modifications of the pulse front velocity and arrival time are needed to exactly match the observed enhancements. Key Points Electron flux peaks due to substorm activity Solar wind driven inner magnetosphere model does not work for quiet times Substorm‐associated fields to explain electron flux peaksPeer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/106068/1/jgra50735.pd

    Investigating effects of emoji on neutral narrative text: evidence from eye movements and perceived emotional valence

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    Digital images of faces such as emoji in virtual communication have become increasingly popular, but current research findings are inconsistent regarding their emotional effects on perceptions of text. Similarly, emoji effects on reading behaviours are largely unknown and require further examination. The present study (N = 41) investigated how the position and emotional valence of emoji in neutral narrative sentences influenced eye movements during reading and perceptions of sentence valence. Participants read neutral narrative sentences containing smiling or frowning emoji in sentence-initial or sentence-final positions and rated the perceived emotional valence of the sentence. Results from linear mixed-effects models demonstrated significantly longer fixations on sentence-final emoji and longer sentence reading times when emoji were in sentence-final positions. These findings are comparable to sentence ‘wrap-up’ effects witnessed in the processing of lexical units during sentence reading, providing new evidence towards the way readers integrate emoji into contextual processing. However, no impact of emoji valence or position on first-pass target word processing or sentence-valence ratings were found. This would refute previous suggestions that digital faces influence text valence, raising questions about reader preference for emoji or sentence sentiment, the influence of sentence formatting, and delivery/display mechanism on these effects

    Individual Differences in Attentional Breadth Changes Over Time: An Event-Related Potential Investigation

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    Event-related potentials (ERPs) to hierarchical stimuli have been compared for global/ local target trials, but the pattern of results across studies is mixed with respect to understanding how ERPs differ with local and global bias. There are reliable interindividual differences in attentional breadth biases. This study addresses two questions. Can these interindividual differences in attentional breadth be predicted by interindividual ERP differences to hierarchical stimuli? Can attentional breadth changes over time within participants (i.e., intraindividual differences) be predicted by ERPs changes over time when viewing hierarchical stimuli? Here, we estimated attentional breadth and isolated ERPs in response to Navon letter stimuli presented at two time points. We found that interindividual differences in ERPs at Time 1 did not predict attentional breadth differences across individuals at Time 1. However, individual differences in changes to P1, N1, and P3 ERPs to hierarchical stimuli from Time 1 to Time 2 were associated with individual differences in changes in attentional breadth from Time 1 to Time 2. These results suggest that attentional breadth changes within individuals over time are reflected in changes in ERP responses to hierarchical stimuli such that smaller N1s and larger P3s accompany a shift to processing the newly prioritized level, suggesting that the preferred level required less perceptual processing and elicited more attention.Brock Library Open Access Publishing Fun
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