This paper develops a test for Pareto-elliciency in the local public sector using the analytical result that aggregate property value is maximized at the public output level which satisfies the Samuelson condition for efficiency. By using cross-section data, it is possible to deduce whether a representative community provides its public goods in a property-value-maximizing (and hence efficient)...

Article history: Received 10 October 2012 Received in revised form 14 October 2013 Accepted 23 March 2014 Available online 12 April 2014 We examine how an exogenous improvement in market efficiency, which allows the stock market to obtain more precise information about the firm's intrinsic value, affects the shareholder–manager contracting problem, managerial incentives, and shareholder value. ...

In this paper, we review the efficiency of both manufacturing processes and systems over recent decades and compare nano-materials technologies in this context. To a first approximation, nano-materials processes appear to be about as efficient as semi-conductor processes. That is, their second law efficiencies are of the order 10, while conventional processes are of order 10. However, many of t...

Color adjectives tend to be used redundantly in referential communication. I propose that redundant color adjectives (RCAs) are often intended to exploit a color contrast in the visual context and hence facilitate object identification, despite not being necessary to establish unique reference. Two language-production experiments investigated two types of factors that may affect the use of RCAs...

In July 2015, the Health Sciences and Human Services Library (HS/HSL) at the University of Maryland, Baltimore (UMB), merged its reference and circulation services, creating the Information Services Department and Information Services Desk. Designing the Information Services Desk with a team approach allowed for the re-examination of the HS/HSL's service model from the ground up. With the creat...

Modified volume Fresnel zone plates (MVFZPs) fabricated with laser direct writing were optimized for higher diffraction efficiencies. The Fresnel radii in each layer of a volume zone plate were iteratively adjusted by a simulation-based direct search optimization. The results show that optimization is effective but depends strongly on the starting diffraction efficiencies determined by the MVFZ...

We discuss the linear dispersive properties of finite one-dimensional photonic band-gap structures. We introduce the concept of a complex effective index for structures of finite length, derived from a generalized dispersion equation that identically satisfies the Kramers-Kronig relations. We then address the conditions necessary for optimal, phase-matched, resonant second harmonic generation. ...

Although reliable methods exist to predict the apparent sound reduction index of heavy, homogeneous isotopic building constructions, these methods are not appropriate for use with lightweight building constructions which typically have critical frequencies in or above the frequency range of interest. Three main methods have been proposed for extending the prediction of flanking sound transmissi...