Joint determination of biological encephalization,economic specialization

In this paper, we develop a paleoeconomic model of the co-evolution of economic specialization and encephalization—the common physiological measure of intelligence as reflected by brain mass relative to total body mass. Our economic analysis links ecological and social intelligence theories of increased encephalization in early hominins through a model in which both economic and ecological feedbacks jointly determined the evolutionary incentives. We focus on degrees of specialization affected by coordination costs with and without market exchange. Our results suggest encephalization would be a process characterized by diminishing returns to behavioral advances. In terms of the long-running debate in economics over whether specialization increases or decreases intelligence, our results suggest from an evolutionary perspective the answer depends on economic/social institutions and how these influence ecological interactions.     

Allocative efficiency measurement with endogenous prices

In the nonparametric measurement of allocative efficiency, output prices are fixed. If prices are endogenous, the overall output in the market determines the allocative efficient point. We develop an alternative semi-nonparametric model that allows prices to be endogenously determined.     

The veterinary medicine industry in Britain in the twentieth century

Economic historians have focused research effort on accounting for the growth and significance of Britain's pharmaceutical industry, but little effort has so far been directed at the veterinary medicine industry, which formed an important part of the wider sector. This article addresses that gap. Factors responsible for that sector's relative insignificance until the 1950s included a general tendency to slaughter rather than to treat sick animals, the absence of advanced medicines until the innovation of sulpha drugs and antibiotics, and difficult relations with the wider pharmaceutical industry. Thereafter output of veterinary medicines increased dramatically, arising from an exponential growth in the demand for intensively farmed poultry meat. Since the 1980s a decline in the use of drugs in agriculture has caused the industry to concentrate on the health needs of domestic animals rather than those of livestock.     

Poverty in Edwardian Britain

This article introduces a newly discovered household budget data set for 1904. We use these data to estimate urban poverty among working families in the British Isles. Applying Bowley's poverty line, we estimate that at least 23 per cent of people in urban working households and 18 per cent of working households had income insufficient to meet minimum needs. This is well above Rowntree's estimate of primary poverty for York in 1899 and high in the range that Bowley found in northern towns in 1912–13. The skill gradient of poverty is steep; for instance, among labourers' households, the poverty rates are close to 50 per cent. Measures of the depth of poverty are relatively low in the data, suggesting that most poor male-headed working households were close to meeting Bowley's new standard.     

Nature conservation for future sustainable shorelines: Lessons from seeking to involve the public

The soft coastline of eastern England is dynamic, with much of it subject to the risk of erosion or flooding. A number of internationally important coastal nature conservation sites are under threat. This paper explores the character and reasoning behind changing coastal management policies and governance practices in England. It reveals how Natural England is tackling these changes, notably with regard to establishing reconstituted nature conservation sites and re-designed coastlines. Such an approach requires the close involvement of policy leaders, agency officers, local maritime authorities and local residents. This paper explains how participatory processes play a critical role in the design of new coastlines that are ecologically and geomorphologically sustainable yet enable local communities to survive and flourish. A case study involving a visioning exercise at Winterton-on-Sea in Norfolk, UK, highlights the many practical difficulties around planning for the uncertain future of internationally important nature conservation sites, and local economies and communities. Future moves toward sustainable coastal alignments will have to involve a wide mix of public and civic bodies, as well as local communities, and will be underpinned by risk-based planning and well-researched adaptation and relocation arrangements.     

Market Incentives for Safe Foods: An Examination of Shareholder Losses from Meat and Poultry Recalls

Meat and poultry recalls, while voluntary, are carried out under governmental oversight. If firms have financial incentives to avoid being implicated in a recall situation, governmental involvement in recalls may cause firms to internalize social costs when making investment decisions concerning food safety controls. To examine these incentives, we analyze federally supervised meat and poultry recalls from 1982 to 1998 within an event study. Results show significant shareholder losses when publicly traded food companies are implicated in a recall involving serious food safety hazards. We find no evidence that the stock market reacts negatively when recalls involve less severe hazards.