In economies subject to uninsurable idiosyncratic risks, competitive equilibrium allocations are constrained inefficient: reallocations of assets support Pareto superior allocations. This is the case even if the asset market for the allocation of aggregate risks is complete. © 2011 Elsevier Inc. All rights reserved. JEL classification: D52; D60; H20

There is a long-standing controversy as to whether drought limits photosynthetic CO2 assimilation through stomatal closure or by metabolic impairment in C3 plants. Comparing results from different studies is difficult due to interspecific differences in the response of photosynthesis to leaf water potential and/or relative water content (RWC), the most commonly used parameters to assess the sev...

We report primitive semiclassical rotation-vibrational energy levels for a triatomic molecule, H20, with inclusion of all three vibrational degrees of freedom. Both the Lai-Hagstrom and Hoy-Bunker potential surfaces are used. Vibrational and rotational actions are calculated usinn the fast Fourier transform Sorbie-Handy method. Overall, encouraging agreement with the quantum variational results...

For complex rocks in which the structure of minerals, rather than their chemical composition, changes with progressive evolution of the system, it makes sense to try and monitor such an evolving system through the progressive change in the crystal structures of the constituent phases. In effect, the paragenetic sequences of minerals in such complex environments should be related to the crystal ...

The electron flow in photosynthesis from H20 to NADP® is driven by two photoactive molecules, chlorophyll-an and chlorophyll-ai. These two chlorophyll molecules are arranged in series within a chain of elec­ tron carriers. The chain is imbedded in the membrane of the thylakoids. The electron carrier plastoquinone is engaged between the two photoactive chlorophyll mole­ cules. During the transfe...

The size dependence of the binding energy of a localized excess electron in large water clusters originates from long-range polarization interactions. The vertical and adiabatic binding energies of compact, interior excess electron states in (H20); clusters, obtained from quantum path-integral moleculardynamics simulations, exhibit a linear dependence on n I/‘, in quantitative agreement with th...

We have obtained long-slit high resolution spectra of the H20+ 6199 A complex in the near tail of comet P/Swift-Tuttle. The observations were made using the Hamilton echelle spectrometer fed by the Lick Observatory 0.6 m coude auxiliary telescope. For most of our observations, the spectral slit was aligned along the Sun-tail axis and the cometary nucleus was placed at one end of the slit, givin...