Use of disappearance data as proxies for actual consumption causes inconsistent estimates of own-price retail demand elasticities. A system of equations describing consumer, processor, and producer behavior is used to consistently estimate the retail demand elasticity for beef using available data while avoiding the restrictive assumption of fixed input proportions implicit in disappearance dat...

We test perturbatively a recent scheme for implementing chiral fermions on the lattice, proposed by Kaplan and modified by Narayanan and Neuberger, using as our testing ground the chiral Schwinger model. The scheme is found to reproduce the desired form of the effective action, whose real part is gauge invariant and whose imaginary part gives the correct anomaly in the continuum limit, once tec...

We study the performance of a stylized supply chain where multiple retailers and a single producer compete in a Cournot-Stackelberg game. At time t = 0 the retailers order a single product from the producer and upon delivery at time T > 0, they sell it in the retail market at a stochastic clearance price. We assume the retailers’ profits depend in part on the realized path of some tradeable sto...

In our first two columns, we described innovative practices that Advanced Practices Council (APC) members shared with their colleagues at recent meetings. In this column, we describe the ideas that Jim Tosone, a long-standing APC member, shared at the October APC meeting. A contributor to the recently published “Complete Idiot’s Guide to the U.S. Constitution,” Tosone explained how understandin...