Application of replacement theory in dairy cows and its use in disease treatment

A model to simulate the costs and returns of an individual dairy cow over 14 years under various assumptions of genetic potential, health status and management was developed especially to evaluate the effects of diseases that reduce production and reproduction efficiency and to evaluate alternative management interventions. Data were collected from the Food Animal Health Resource Management System (FAHRMX), Today's Electronic Planning (TELPLAN), Today's Electric Farm Accounting (TELFARM) databases and secondary sources at Michigan State University. A case study of cystic ovaries was analysed using the model. The results showed that it is more economical to treat cystic ovaries than not to treat, and treatment with Gonadotropin Releasing Hormone (GNRH) was superior to Human Chrionic Gonadotropin (HCG). Four to five lactations were the optimum for keeping a dairy cow to replacement and it was estimated that there is a loss of US$0.45 per day of extended calving interval (days open beyond the optimal 70 days).     

The welfare effects of disclosure under cognitive dissonance

Atlantic Economic Journal -     

Asymptotically optimal estimation of smooth functionals for interval censoring, part 1

Estimation in the interval censoring model is considered. A class of smooth functionals is introduced, of which the mean is an example. The asymptotic information lower bound for such functionals can be represented as an inner product of two functions. In case 1, i.e. one observation time per unobservable event time, both functions can be given explicitly. We mainly consider case 2, with two observation times for each unobservable event time, in the situation that the observation times can not become arbitrarily close to each other. For case 2, one of the functions in the inner product can only be given implicitly as solution to a Fredholm integral equation. We study properties of this solution and, in a sequel to this paper, prove that the nonparametric maximum likelihood estimator of the functional asymptotically reaches the information lower bound.     

Evaluation of the risk of unfavorable sociodemographic consequences of construction and operation of hydro developments

Translated from Gidrotekhnicheskoe Stroitel'stvo, No. 4, pp. 30–35, April, 1995.     

Wavelet Analysis of the Bombay Stock Exchange Index

The fluctuations in the rate of returns of the Bombay stock exchange are analyzed through wavelet transform. The fluctuations, in various time scales, naturally separated by the wavelets, are subjected to statistical analysis. The localization and multiresolution properties of the wavelets enable one to identify collective behaviour in the stock market and the extent of their influence at various time scales. The Gaussian nature of the rate of returns at certain scales and the periodic nature of the same, at other scales, are clearly brought out by this analysis. The utility of this approach for modeling purpose is also elucidated.

     

Likelihood-based specification analysis of continuous-time models of the short-term interest rate

An extensive collection of continuous-time models of the short-term interest rate is evaluated over data sets that have appeared previously in the literature. The analysis, which uses the simulated maximum likelihood procedure proposed by Durham and Gallant (2002), provides new insights regarding several previously unresolved questions. For single factor models, I find that the volatility, not the drift, is the critical component in model specification. Allowing for additional flexibility beyond a constant term in the drift provides negligible benefit. While constant drift would appear to imply that the short rate is nonstationary, in fact, stationarity is volatility-induced. The simple constant elasticity of volatility model fits weekly observations of the three-month Treasury bill rate remarkably well but is easily rejected when compared with more flexible volatility specifications over daily data. The methodology of Durham and Gallant can also be used to estimate stochastic volatility models. While adding the latent volatility component provides a large improvement in the likelihood for the physical process, it does little to improve bond-pricing performance.     

Myopic loss aversion and the equity premium puzzle reconsidered

Benartzi and Thaler [The Quarterly Journal of Economics 110 (1995) 73–92] offer a quasi-rational explanation for the equity premium puzzle. We reconsider their methodology and, making a simple modification to it, find that their analysis is not robust.     

Vegetation Change in Great Lakes Coastal Wetlands: Deviation from the Historical Cycle

Water-level change is integral to the structure and function of Great Lakes coastal wetlands, and many studies document predictable relationships between vegetation and water level. However, anthropogenic stressors, such as invasive species, land-use change, and water-level stabilization, interact to shift the historical cycle (of native vegetation migration up- and down-slope) toward dominance by invasive Typha species. Knowing from earlier studies that water-level stabilization alters the historical vegetation cycle, we asked if similar shifts can occur where water levels are not stabilized. Using historical aerial photographs of three coastal wetlands (in Lake Michigan's Green Bay, Wisconsin), we determined that habitat dominated by Typha species has expanded to eliminate wet meadow habitat. Between 1974 and 1992, linear regressions showed strong, significant relationships of both meadow area (R² ≥ 0.894; p < 0.02) and marsh area (R² ≥ 0.784; p < 0.05) to water level in all three wetlands. In 2000, meadow area was below that predicted by the historical pattern due to the landward advance of marsh habitat during a year of decreasing water levels. In the same period, land use in the wetland watersheds converted from agriculture to urban. Urbanization and the replacement of native Typha latifolia by the invasive hybrid Typha xglauca may have overwhelmed the beneficial impact of water-level fluctuation. The documentation of vegetation shifts, as herein, is an essential step in the process of preserving and restoring ecological integrity.     

Pilot experiments with electrodialysis and ozonation for the production of a fertiliser from urine.

Pilot tests were performed with a process combination of electrodialysis and ozonation for the removal of micropollutants and the concentration of nutrients in urine. In continuous and batch experiments, maximum concentration factors up to 3.5 and 4.1 were obtained, respectively. The desalination capacity did not decrease significantly during continuous operation periods of several weeks. Membrane cleaning after 195 days resulted in approximately 35% increase in desalination rate. The Yeast Estrogen Screen (YES), a bioassay that selectively detects oestrogenic compounds, confirmed that about 90% of the oestrogenic activity was removed by electrodialysis. HPLC analysis showed that ibuprofen was removed to a high extent, while other micropollutants were below the detection limit. In view of the fact that ibuprofen is among the most rapidly transported micropollutants in electrodialysis processes, this result indicates that electrodialysis provides an effective barrier for micropollutants. Standardised plant growth tests were performed in the field with the salt solution resulting from the treatment by electrodialysis and subsequent ozonation. The results show that the plant height is comparable to synthetic fertilisers, but the crop yield is slightly lower. The latter is probably caused by volatilisation losses during field application, which can be prevented by improved application technologies.