One of the important functions of financial intermediation is intertemporal risk smoothing. This paper studies the effects of a production shock in a closed economy and compares the abilities of market-based and bank-based financial systems in processing the shock. The analysis of the shock propagation indicates that a competitive banking system may collapse in absence of a proper regulation. P...

This paper develops and empirically validates customer shopping motives taking account of customer channel selection in multichannel systems. As each channel is associated with certain advantages and disadvantages from a customer’s perspective, we develop – based on behavioral considerations – a customer typology to classify different segments of customers. This enables us to empirically analyz...

The authors estimate the growth rate of the social cost of carbon. This is an indication of the optimal rate of acceleration of greenhouse gas emission reduction policy over time. The authors find that the social cost of carbon increases by 1.3% to 3.9% per year, with a central estimate of 2.2%. Previous studies found an average rate of 2.3% and a range of 0.9 to 4.1%. The rate of increase of t...

BACKGROUND Incidence density sampling is typically the least biased efficient method for control sampling in nested case-control studies. However, in studies of genetic variants and prostate cancer progression, some argue that controls should be sampled from men who did not progress by end of follow-up. Thus, we examined the validity of relative risk (RR) estimates of prostate cancer progressio...

During space flight, careful and complete physical measurements are made to characterize the radiation dose that is received by the astronauts. Biological changes are also evaluated in the astronauts to determine any biological changes induced by radiation during the space flight. Biological evaluations are done both before and after the space flight to ensure that the effects were induced by t...

We often are unable to reduce wildlife damage because of our inability to apply a repellent directly to the plant, animal, or item that needs protection. Conditioned food aversions based on deception (CFABD) is one method that can be used to extend protection to these items (hereafter called models). In CFABD, the model is not treated; instead mimics of the model are created and then treated wi...

The United States has historically imported a substantial number of cattle from Canada. Given the discovery of a BSE-infected animal in Canada and another in the United States with Canadian heritage raises the question as to whether the United States should track and test imported animals. One alternative for the near term is to identify, permanently mark, and track Canadian cattle in the Unite...

Radiological protection of non-human biota is being addressed by several national jurisdictions, including Canada, which is soon to set guidelines for radiation protection of the environment in accordance with the principle of sustainable development (AECB, 1998; IAEA, 1999). The development of regulatory policies and standards recognizes the environment as a complex system, and now incorporate...

The general question of how environmental dynamics affect the behavioral interaction in an evolutionary economy is considered. To this end, a basic model of a dynamic multi-sector economy is developed where the evolution of investment strategies depends on the diversity of investment strategies, social connectivity and relative contribution of sector specific investments to production. Four typ...

Epidemiologic evidence suggests that cancer incidence is associated with diabetes as well as certain diabetes risk factors and diabetes treatments. This consensus statement of experts assembled jointly by the American Diabetes Association and the American Cancer Society reviews the state of science concerning 1) the association between diabetes and cancer incidence or prognosis, 2) risk factors...