We study equilibrium security price dynamics in an economy where nonfundamental risk arises from agents' heterogeneous beliefs about extraneous processes. We completely characterize equilibrium in terms of the economic primitives, via a representative agent with stochastic weights. Besides pricing fundamental risk, an agent now also prices nonfundamental risk with a market price which is a risk...

We study a two-sided market in which a platform mediates between sellers and buyers, and signs private contracts with sellers. We compare this market with (i) a one-sided market with public contracts, and (ii) a two-sided market with public contracts. We find that equilibrium royalties can be positive or negative in a one-sided market with public contracts, are negative in a twosided market wit...

A model is presented where universities competitively supply education to mobile students. Students are subject to a liquidity constraint so that tuition must be paid out of pre-university income. It is shown that student loans provided by home jurisdictions will ensure an efficient quality of higher education if loans do not contain any subsidy. If there is income-related debt relief, however,...

Two-sided search is an important feature of the Real Estate market (REM). Existing empirical equilibrium search models assume that only one side of the market searches and, thus, can not adequately describe this market. We specify a two-sided equilibrium search model of the REM that incorporates five very important characteristics of the REM: a) buyers' and sellers' search behavior, b) heteroge...

Abstract The system of seabed Cone Penetration Test (CPT) is a kind equipment for offshore investigations. Seabed CPT used to assess multiple physical properties marine sediments. Constant-rate penetration mechanism the core part CPT, which adopts dual-cylinder drive penetrate probe rod into seafloor sediments at constant speed (2cm/s). At present, domestic and its almost all rely on imports. I...

Background: Land and water pollution by heavy metals is a universal issue. Although the pollution affects all countries, but its range and severity vary hugely. The pollution of the marine environment by heavy metals is a worldwide problem. Marine sediments can be sensitive indicators for monitoring contaminants in aquatic environments. Methods: The concentration of 10 elements (As, Cd, Cr, Cu...

heavy metals in the surface sediments of the two coastal ecosystems of cochin, southwest india were assessed. the study intends to evaluate the degree of anthropogenic influence on heavy metal concentration in the sediments of the mangrove and adjacent estuarine stations using enrichment factor and geoaccumulation index. the inverse relationship of cd and zn with texture in the mangrove sedimen...

the chemical speciation of heavy metals (arsenic, chromium, copper, lead, zinc and tin) in the sediments offormer tin mining catchment bestari jaya, peninsular malaysia was determined by using the latest version of the community bureau of reference, usually called the bcr 3-step sequential extraction procedure. furthermore, a fourth step was introduced for digestion and analysis of the residue....

Bacterial extracellular proteases are important for bacterial nutrition and marine sedimentary organic nitrogen degradation. However, only a few proteases from marine sedimentary bacteria have been characterized. Some subtilases have a protease-associated (PA) domain inserted in the catalytic domain. Although structural analysis and deletion mutation suggests that the PA domain in subtilases is...

Viruses profoundly influence benthic marine ecosystems by infecting and subsequently killing their prokaryotic hosts, thereby impacting the cycling of carbon and nutrients. Previously conducted studies, based on different methodologies, have provided widely differing estimates of the relevance of viruses on benthic prokaryotes. There has been no attempt so far to compare these independent appro...