I consider a repeated principal-agent setting in which the agent repeatedly chooses between hidden “long-term” and “short-term” actions. Relative to the long-term action, the short-term action boosts output today but hurts output tomorrow. The optimal contract inducing long-term actions provides a fresh perspective on upward sloping pay scales, severance pay and high-watermark contracts. The my...

Can heuristic information processing affect important product markets? We explore whether the tendency to focus on the left-most digit of a number affects how used car buyers incorporate odometer values in their purchase decisions. Analyzing over 22 million wholesale used-car transactions, we find substantial evidence of this left-digit bias; there are large and discontinuous drops in sale pric...

The presence of energetic runaway electron beams above thunderstorms is suggested by observations of terrestrial gamma ray flashes [Fishman et al., 1994], as well as by theoretical work [Roussel-Dupré and Gurevich, 1996; Lehtinen et al., 1999], although such beams have not been directly measured. In this paper we consider possible measurable effects of such beams in the conjugate hemisphere as ...

Purpose To describe the retinal clinical features of a group of Mexican patients with Stargardt disease carrying the uncommon p.Ala1773Val founder mutation in ABCA4. Methods Ten patients carrying the p.Ala1773Val mutation, nine of them homozygously, were included. Visual function studies included best-corrected visual acuity, electroretinography, Goldmann kinetic visual fields, and full-field...

J. Clin. Invest. © The American Society for Clinical Investigation, Inc. 0021-9738/96/04/1788/07 $2.00 Volume 97, Number 8, April 1996, 1788–1794 “Molecular Medicine in Genetically Engineered Animals” Series Editor, Kenneth R. Chien January 1 Gene modification via “plug and socket” gene targeting................................. Jada Lewis, Baoli Yang, Biological insights through genomics: mous...

P-Glucuronidase has been purified from mouse kidneys previously induced by gonadotrophin to a specific enzyme activity 15 times higher than the non-induced kidney. The purification procedure includes ultrasonication to solubilize the enzyme, acid and ammonium sulfate precipitations, gel filtration in Sephadex G-200, DEAE-ion exchange chromatography, and isoelectric focusing. The resulting produ...

Alternative spaces of learning in east London: opportunities and challenges Raymonde Sneddon and Peter Martin Introduction London, and east London particularly, has been an important site for immigration over the centuries. Prior to the Second World War the major immigrants into the city were Irish, and Polish and Russian Jews (Fishman, 1997; Block, 2005). In the period following the Second Wor...

Methods for the detection and quantitative determination of ethanolamine in animal tissues and fluids have, with few exceptions, been focused upon phospholipide hydrolysates. They include the gold salt method of Trier (l), the CaO-ether extraction method of Thierfelder and Schulze (Z), isolation as the diiodosalicylate (Stetten (3)), and the periodate oxidation method employed by Artom (4). In ...

When iodides are administered in ordinary doses excretion takes place rapidly. Heavy doses can usually be administered before toxic symptoms develop. The same is true to an even greater extent of bromides. The bromide ion appears to be capable of replacing the chloride ion to a Considerable degree in the body fluid of mammals without the production of distinct toxic symptoms. Thus Frey (1910--1...

When consumers do not know the prices at which different firms sell, they often also do not know production costs. Consumer search models which take asymmetric information about production costs into account continue focusing on reservation price equilibria (RPE) and their properties. We argue that RPE assume specific out-ofequilibrium beliefs that are not consistent with the logic of the D1 re...