scholarly journals On the Possibility of Credit Rationing in the Stiglitz-Weiss Model

2009 ◽  
Vol 99 (5) ◽  
pp. 2012-2021 ◽  
Author(s):  
Lutz G. Arnold ◽  
John G. Riley
Keyword(s):  
Numerical Analysis ◽  
Adverse Selection ◽  
Joint Distribution ◽  
Credit Rationing ◽  
Selection Model ◽  
High Rate ◽  
Risk Class ◽  
Loan Rate ◽  
Expected Revenue ◽  
Low Rate

Contrary to what is usually assumed, the expected revenue for lenders as a function of the loan rate cannot be globally hump-shaped in the Stiglitz-Weiss (1981) adverse selection model with a continuum of types. This has important implications. First, if there is credit rationing, there must be at least two equilibrium loan rates. Second, while at the low rate loans are rationed, all those applicants willing to pay the high rate are then served. Numerical analysis shows that unless the joint distribution of risk class and output is rather special, the two loan rate outcome with rationing is unlikely. (JEL D82, G21)

A Note on Groove Depth Changes Without Wear

1980 ◽  
Vol 8 (1) ◽  
pp. 10-12
Author(s):  
F. C. Brenner
Keyword(s):  
Weight Loss ◽  
Wear Test ◽  
Groove Depth ◽  
High Rate ◽  
Weight Changes ◽  
Wear Rates ◽  
Weight Loss Method ◽  
Loss Method ◽  
And Storage ◽  
Low Rate

Abstract Tread wear rates during first wear measured by groove depth and weight changes do not always agree. Sometimes, the groove depth method shows a high rate and the weight loss method a low rate. Reported here are experiments designed to determine if grooves show depth changes without wear. Four tires were measured before mounting on a wheel, after mounting and inflation, and after inflation and storage. The mounted and inflated tires showed shallower shoulder grooves and deeper center grooves than the unmounted tires. In a second experiment, tires were measured immediately after a tread wear test and then stored mounted for two weeks before remeasuring. Each groove became deeper, and there was no change in the crown radius of any tire.

scholarly journals Combining High- and Low-Rate Geodetic Data Analysis for Unveiling Rapid Magma Transfer Feeding a Sequence of Violent Summit Paroxysms at Etna in Late 2015

2021 ◽  
Vol 11 (10) ◽  
pp. 4630
Author(s):  
Alessandro Bonforte ◽  
Flavio Cannavò ◽  
Salvatore Gambino ◽  
Francesco Guglielmino
Keyword(s):  
Ground Deformation ◽  
High Rate ◽  
Rate Data ◽  
Scale Analysis ◽  
Feeding System ◽  
Magma Sources ◽  
Mt Etna ◽  
Multi Temporal ◽  
Gnss Measurements ◽  
Low Rate

We propose a multi-temporal-scale analysis of ground deformation data using both high-rate tilt and GNSS measurements and the DInSAR and daily GNSS solutions in order to investigate a sequence of four paroxysmal episodes of the Voragine crater occurring in December 2015 at Mt. Etna (Italy). The analysis aimed at inferring the magma sources feeding a sequence of very violent eruptions, in order to understand the dynamics and to image the shallow feeding system of the volcano that enabled such a rapid magma accumulation and discharge. The high-rate data allowed us to constrain the sources responsible for the fast and violent dynamics of each paroxysm, while the cumulated deformation measured by DInSAR and daily GNSS solutions, over a period of 12 days encompassing the entire eruptive sequence, also showed the deeper part of the source involved in the considered period, where magma was stored. We defined the dynamics and rates of the magma transfer, with a middle-depth storage of gas-rich magma that charges, more or less continuously, a shallower level where magma stops temporarily, accumulating pressure due to the gas exsolution. This machine-gun-like mechanism could represent a general conceptual model for similar events at Etna and at all volcanoes.

PARAMETERS FOR DYNAMIC SIMULATION OF W ASTEW ATER TREATMENT PLANTS WITH HIGH-RATE AND LOW-RATE ACTIVATED SLUDGE TANKS

1994 ◽  
Vol 30 (4) ◽  
pp. 211-214 ◽  
Author(s):  
E. Brands ◽  
M. Liebeskind ◽  
M. Dohmann
Keyword(s):  
Wastewater Treatment ◽  
Activated Sludge ◽  
Dynamic Simulation ◽  
Municipal Wastewater ◽  
Wastewater Treatment Plants ◽  
High Rate ◽  
Yield Coefficient ◽  
Municipal Wastewater Treatment ◽  
Municipal Wastewater Treatment Plants ◽  
Low Rate

This study shows a comparison of important parameters for dynamic simulation concerning the highrate and low-rate activated sludge tanks of several municipal wastewater treatment plants. The parameters for the dynamic simulation of the single-stage process are quite well known, but parameters for the high-ratellow-rate activated sludge process are still missi ng, although a considerable number of wastewater treatment plants are designed and operated that way. At present any attempt to simulate their operation is restricted to the second stage due to missing data concerning growth rate, decay rate, yield coefficient and others.

Noncontingent Nonreinforcement of a Response as the Aversive Event in a Cer Paradigm

1971 ◽  
Vol 29 (3_suppl) ◽  
pp. 1196-1198 ◽  
Author(s):  
Richard S. Calef ◽  
Richard A. Kaufman ◽  
Ronald N. Bone ◽  
Steven A. Werk
Keyword(s):  
Reinforcement Schedule ◽  
Present Experiment ◽  
High Density ◽  
High Rate ◽  
Aversive Event ◽  
Necessary Condition ◽  
Facilitation Effect ◽  
Response Facilitation ◽  
Early Training ◽  
Low Rate

The present experiment investigated the effects of noncontingent nonreinforcement as the aversive event in a CER paradigm. The results showed a significant response-facilitation effect during early training, but none during later training with a high rate-producing, high-density reinforcement schedule. The present results imply that a low rate-producing, high-density reinforcement schedule is not a necessary condition for response facilitation.

The Role of Behavioral Frictions in Health Insurance Marketplace Enrollment and Risk: Evidence from a Field Experiment

2021 ◽  
Vol 111 (5) ◽  
pp. 1549-1574
Author(s):  
Richard Domurat ◽  
Isaac Menashe ◽  
Wesley Yin
Keyword(s):  
Health Insurance ◽  
Field Experiment ◽  
Positive Selection ◽  
Adverse Selection ◽  
Low Income ◽  
Market Risk ◽  
Selection Model ◽  
Heterogeneous Effects ◽  
Low Income Consumers

We experimentally varied information mailed to 87,000 households in California’s health insurance marketplace to study the role of frictions in insurance take-up. Reminders about the enrollment deadline raised enrollment by 1.3 pp (16 percent) in this typically low take-up population. Heterogeneous effects of personalized subsidy information indicate misperceptions about program benefits. Consistent with an adverse selection model with frictional enrollment costs, the intervention lowered average spending risk by 5.1 percent, implying that marginal respondents were 37 percent less costly than inframarginal consumers. We observe the largest positive selection among low income consumers, who exhibit the largest frictions in enrollment. Finally, we estimate the implied value of the letter intervention to be $25 to $53 per month in subsidy dollars. These results suggest that frictions may partially explain low take-up for marketplace insurance, and that interventions reducing them can improve enrollment and market risk in exchanges. (JEL C93, G22, G52, H75, I13)

Scenario Prediction of China’s Natural Gas Consumption and Carbon Emissions in the Next Ten Years

2021 ◽  
Vol 16 (3) ◽  
pp. 569-587
Author(s):  
Chunzi Wang ◽  
◽  
Mingxiong Zhu ◽  
Keyword(s):  
Economic Growth ◽  
Natural Gas ◽  
Emission Reduction ◽  
Carbon Emission ◽  
Gas Production ◽  
High Rate ◽  
Carbon Emission Reduction ◽  
Gas Consumption ◽  
Natural Gas Consumption ◽  
Low Rate

Based on Johansen Cointegration Test, this paper sheds light on the long-run equilibrium relationship between natural gas consumption, gas production, and GDP in China. Three different natural gas demand scenarios of low, medium and high rates in the next ten years are considered, and a Neural Network Autoregression Model is used to predict the future carbon dioxide emission. We conclude: (1) In all three scenarios, the growth rates of natural gas consumption are all higher than those of natural gas production, while the gap between demand and domestic supply will gradually turn broader and China will largely rely on imports ; (2) In the scenario of low-rate economic growth, natural gas consumption will grow slowly, and it will be difficult to realize the carbon emission reduction targets by 2030 due to low-rate substitution of natural gas for coal; (3) If medium-rate to high-rate economic growth sustains, coupled with rapid increase in natural gas consumption and production, China’s Carbon Emission Reduction Targets for 2030 can be achieved with high-rate substitution of natural gas for coal.

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