An optimal contract may involve randomization when the agents differ in their attitudes towards risk, so that randomization enables the principal to relax the incentive constraints. The paper provides a necessary and sufficient condition for local random deviations to be welfare improving in a neighborhood of a nonrandom optimum. JEL classification numbers: H21, H23, H26.

An outbreak of acute diarrhoea occurred amongst babies in a special care baby unit. Thirteen babies were at risk; six suffered diarrhoea and three of these died. An Escherichia coli with an unidentifiable O antigen and flagellar antigen H23 was isolated from all six cases. This O antigen has been accepted into the international scheme as O158.

The social cost of carbon is the expected present value damages from emitting one ton today. We use perturbation theory to derive an approximate tractable expression for this adjusted climatic and economic risk. allow different aversion risk intertemporal fluctuations, skewness dynamics in distributions climate sensitivity damage ratio, correlated shocks. identify prudence, insurance, exposure ...

AbstrakProgram Keluarga Harapan adalah program bantuan tunai bersyarat yang diberikan kepada Miskin ditetapkan sebagai Penerima Manfaat. Tujuan penelitian ini untuk menganalisis pengaruh PKH terhadap perubahan Pengeluaran Pendidikan. Data digunakan data primer diperoleh melalui observasi, wawancara dan kuesioner. Metode analisis dalam Difference in Difference. Hasil menunjukkan bahwa pada model...

This paper analyzes the impact of inequality on growth when technical progress is driven by innovations and consumers have hierarchic preferences. Inequality has an impact on growth because it affects the structure and the dynamics of demand. Redistribution from very rich to very poor consumers is beneficial for growth. In general, the growth effect depends on the nature of redistribution. Due ...

In this study, we analyze the effect of property taxes on changes between agricultural, forestry, Conservation Reserve Program, and developed land uses in Louisiana. We estimate a random parameters logit model of land-use conversion from the National Resources Inventory plot data. Our results indicate that land-use changes are inelastic with respect to property taxes. Simulation shows that curr...

This paper constructs a simple model to illustrate that the current food stamp subsidy scheme fails to achieve its aim due to the crowding-out effect. In particular, if the household income is sufficiently low, only the corner solution exists and full subsidy is needed. The optimal food stamp subsidy scheme is identified and the subsidy efficiency rate is introduced to measure the impact on foo...

We consider a Rebelo (1991) type model of endogenous growth in which the environmental quality positively affects the rate of human capital accumulation and the environmental quality itself is positively affected by human capital accumulation and is negatively affected by physical capital accumulation. We analyse the effects of taxation on the steady state equilibrium growth rate in this model....

Cattle harbor and shed in their feces several Escherichia coli O104 serotypes. All O104 strains examined were intimin negative and belonged to the B1 phylogroup, and some were Shiga toxigenic. We report here the genome sequences of bovine O104:H7 (n = 5), O104:H23 (n = 2), O104:H8 (n = 1), and O104:H12 (n = 1) isolates and human clinical isolates of O104:H7 (n = 5).

We develop a simple and sensitive method for multiplex detection of lung cancer cells at the single-molecule level, with a detection limit of 15 cells per mL for A549 cells and 4 cells per mL for H23 cells, without the involvement of any sequence-based amplification. This method holds great potential for further application in early clinical diagnosis, especially for the detection of rare tumor...