Miracle-dz/UniFAR-FTUs huggingface dataset:
A Nation-Wide Laboratory: Examining Trust and Trustworthiness by Integrating Behavioral Experiments into Representative Survey

Typically, laboratory experiments suffer from homogeneous subject pools and selfselection biases. The usefulness of survey data is limited by measurement error and by the questionability of their behavioral relevance. Here we present a method integrating interactive experiments and representative surveys thereby overcoming crucial weaknesses of both approaches. One of the major advantages of our approach is that it allows for the integration of experiments, which require interaction among the participants, with a survey of non-interacting respondents in a smooth and inexpensive way. We illustrate the power of our approach with the analysis of trust and trustworthiness in Germany by combining representative survey data with representative behavioral data from a social dilemma experiment. We identify which survey questions intended to elicit people's trust correlate well with behaviorally exhibited trust in the experiment. People above the age of 65, highly skilled workers and people living in bigger households exhibit less trusting behavior. Foreign citizens, Catholics and people favoring the Social Democratic Party or the Christian Democratic Party exhibit more trust. People above the age of 65 and those in good health behave more trustworthy or more altruistically, respectively. People below the age of 35, the unemployed and people who say they are in favor of none of the political parties behave less trustworthy or less altruistically, respectively.
Can Having Internal Locus of Control Insure Against Negative Shocks? Psychological Evidence from Panel Data

We investigate whether the intensity of emotional pain following a negative shock is different across the distribution of a person’s locus of control – the extent to which individuals believe that their actions can influence future outcomes. Using panel data from Australia, we show that individuals with strong internal locus of control are psychologically insured against becoming a victim of property crime and death of a close friend, but not against the majority of other life events. The buffering effects vary across gender. Our findings thus add to the existing literature on the benefits of internal locus of control.
Working Capital Policy of Indian Service Industry

Working capital policy of every enterprise assumes great significance as it affects not only the routine business but also the strategic decisions related to sourcing funds for the same. An aggressive approach may prove to be risky but profitable whereas, vice versa is the case for conservative approach. Appropriate working capital policies ensure both, the short term as well as the long term solvency of a firm coupled with the smooth functioning. Service sector is driving the growth of Indian economy with its impressive share of fifty four percent in gross domestic product. Considering the same, the current study attempts to examine the working capital policy as represented by working capital ratios of the Indian Service Industry for a period of fifteen years from 1995-96 to 2009-10. Twenty four ratios classified into five subgroups were selected for the purpose of analysis. Current assets structure, Current Liabilities Structure, Liquidity and Working capital Policy was examined. Receivables dominated the current asset structure and Trade Credit dominated the current liabilities structure of service industry. It followed an aggressive current asset financing policy and is moving towards an aggressive current asset investment policy. Service industry enjoyed sound liquidity position throughout the study period.
Fiscal Decentralization and Public R&D Policy: A Country Paen Analysis

This paper examines the impact of fiscal decentralization on both public investment in innovation (measured as the share of research and development - R&amp;D - spending in total government budget) and on the intensity of basic research within the public R&amp;D bundle. We present a theoretical model where a ‘benevolent government’ invests in R&amp;D aiming at maximizing net income available in the country (central government) or in the respective region (subnational government), where states compete to attract capital investment, and where R&amp;D results are subject to interregional knowledge spillovers. The model predicts that decentralization leads to a lower level of public spending on innovation, and to a lower share of basic research in government R&amp;D budget. The implications of the model are empirically tested utilizing country aggregate data. We find evidence that expenditure decentralization leads to lower intensity of basic research within public R&amp;D, and that both revenue and expenditure decentralization negatively affect the size of innovation spending. The findings suggest that fiscal decentralization policy, expected to be beneficial in many other dimensions, should be accompanied by measures to compensate for the otherwise decrease in innovation spending, and that the assignment of expenditure responsibilities should have central government play a greater role in financing and carrying out basic research.
Matching Supply and Demand with Mismatch-Sensitive Players

We study matching over time with short- and long-lived players who are very sensitive to mismatch. To characterize the mismatch, we model players' preferences as uniformly distributed on a circle, so the mismatch between two players is characterized by the one-dimensional circular angle between them. This framework allows us to capture matching processes in applications ranging from ride sharing to job hunting. Our analytical framework relies on threshold matching policies. If the matching process is controlled by a central planner (e.g. an online matching platform), the matching threshold reflects the trade-off between matching rate and matching quality. We further compare the centralized system with decentralized systems, where players choose their matching partners. We find that matching controlled by either side of the market may achieve optimal or near optimal social welfare, but have great impact on welfare allocation. In particular, letting long-lived players choose their matching partner leaves short-lived players with zero surplus. Moreover, we extend our model with player heterogeneity. Letting long-lived players choose their matching partner leads to better social welfare when the market of short-lived players is thick and the level of heterogeneity is significant. Otherwise, letting short-lived players choose matching partners is better.
R&D Networks: Theory, Empirics and Policy Implications

We study a structural model of R&D alliance networks in which firms jointly form R&D collaborations to lower their production costs while competing on the product market. We derive the Nash equilibrium of this game, provide a welfare analysis and determine the optimal R&D subsidy program that maximizes total welfare. We also identify the key firms, i.e. the firms whose exit would reduce welfare the most. We then structurally estimate our model using a panel dataset of R&D collaborations and annual company reports. We use our estimates to identify the key firms and analyze the impact of R&D subsidy programs. Moreover, we analyze temporal changes in the rankings of key firms and how these changes affect the optimal R&D policy.
Influence of time of overhead shading on yield, fruit quality, and subsequent flowering of hardy kiwifruit, Actinidia arguta

Abstract The effect of overhead shading on yield, fruit quality, and subsequent flowering was studied in 4‐year‐old Actinidia arguta ’Ananasnaya’ vines in Oregon, United States in 1998 and 1999. Experimental vines were shaded to 45% of full sun from 14 July to 14 August, 14 July to 10 September (harvest date), or 10 September to 16 November, 1998. Control vines were not shaded. Shading treatments were not repeated in 1999. Fruit fresh and dry weight development followed a similar growth pattern in all treatments. Shading had no effect on yield per vine or fruit fresh weight, length, diameter, and % soluble solids in 1998. Shading for 2 months before harvest significantly reduced fruit dry weight in 1998. Shading in 1998 did not affect percentage of budbreak or the number of buds, shoots, or fruitful shoots per vine in 1999. However, vines that were shaded had a significantly lower percentage of fruitful shoots than unshaded vines, especially vines shaded for 2 months before harvest in 1998. Vines shaded for 2 months before harvest had 48% fewer flowers and thus less yield than unshaded vines. Percent fruit set was not significantly affected by flower number per vine or by shading in the previous season. Unshaded vines produced an average of one more cluster per shoot distally (at node 12) than vines shaded for 1 or 2 months before harvest the previous year. There was no treatment effect on fruit fresh weight, dry weight, length, diameter, seed number, or % soluble solids of marketable fruit in 1999. Results show that overhead shading, as might occur with dense canopies, did not have a large impact on fruit quality or yield in the current season, but reduced yield the following season. Overhead shading for 2 months before fruit harvest, led to the greatest reduction in flower number the following season confirming that the period before fruit harvest is an important time for flower bud evocation in this species.
Procedural Justice and Workers’ Prosocial Behaviour of Selected Deposit Money Banks in Abia State

This study sought to identify the relationship between procedural justice and prosocial behaviour of deposit money banks in Abia State, Nigeria. This study employed cross-sectional research survey design. Target universe for this study consists of deposit money banks in Abia State. A total of ten (10) deposit money banks were selected using simple random sampling. A total population of 230 workers was surveyed. Sample size is 144 using Krejcie and Morgan (1970) sample size determination. Questionnaire served as method of data collection. 128 copies were retrieved and used for data analysis. Face validity was used to ascertain the validity of the instrument. Reliability of the instruments was tested using the cronbach alpha test. Spearman’s Rank Order Correlation Coefficient (rho) was employed as a statistical tool. Result of this study shows that procedural justice has a positive significant relationship with prosocial behaviour of deposit money banks. The study concluded that procedural justice measured in terms of consistency, impartial and accuracy enhances workers’ prosocial behaviour of deposit money banks. The study recommended that bank managers should employ procedural justice in their workplace to enhance workers prosocial behaviour.
Exploring Cruise Ship Passengers’ Spending Patterns in Two Uruguayan Ports of Call

The cruise industry has become a significant component of the Uruguayan tourism economy in the last few years. The present study aims to provide a better understanding of the cruise industry by considering the expenditure of cruise ship passengers disembarking in the ports of call of Montevideo and Punta del Este as a key variable in the economic analysis of the cost and benefits. We estimate two cross-sectional regression models for the cruise expenditures, showing that the group size the visitors travel with and the mobility the visitors have within the country are the most important variables to explain individual expenditure behaviour. Also, we include some managerial recommendations that policy makers could implement in order to improve the economic profits derived from cruise ship tourism.
Does Managerial Skill Facilitate Corporate Innovative Success?

This paper examines whether managerial ability facilitates corporate innovative success. First, we show that managerial ability is positively associated with innovative output. Second, we show that the positive association between managerial ability and innovative output is weaker for older CEOs and managers who stay in the same job for longer, suggesting a preference for a ‘quiet life’ by long serving CEOs. Third, we find that the equity market values patents generated by more able managers more positively, suggesting that equity holders deem better skilled managers more effective at converting innovative ideas into valuable new products. Finally, we show that managerial ability is positively associated with more ‘radical’ innovations, which are outside of the firm’s knowledge base. Overall, our results suggest that managerial ability is an essential component of corporate innovative success.
Agronomic Performance and Nutrient Concentration of Maize (Zea mays L.) as Influenced by Nitrogen Fertilization and Plant Density

A field experiment was conducted at Samaru, Nigeria to study the influence of nitrogen fertilization and plant density on the agronomic performance and nutrient concentration of maize (Zea mays L.). The treatments were factorial combinations of five nitrogen fertilization rates (0, 50, 100, 150 and 200 kg N/ha) and three plant density levels (25000, 50000 and 75000 plants/ha). Nitrogen fertilization up to 150 kg N/ha enhanced grain and stover yields and increased kernel number and weight up to 100 kg N/ha. Nitrogen supply also increased maize ear length. Increased N fertilization rates increased concentrations of N, K and Mg but had no effect on P and Ca concentrations. Higher grain yield was closely associated with higher N concentration in ear leaf; with 0.1 % change in N concentration causing 177 kg/ha change in grain yield. Increased plant density increased stover yield up to 50 or 75 thousand plants/ha but depressed kernel number and weight and ear length.
The Implied Risk Premium and Firm Risk Characteristics

This paper proposes a new approach to infer a firm-specific measure of the implied cost of capital. It incorporates endogenously estimated industry-year growth rate of the net present value of future investments. It requires only one-year-ahead forecasts of earnings, and dividend payout policy is irrelevant. The measure is intrinsically linked to commonly used accounting ratios including book-to-market, (forward) earnings yield, dividend-to-price as well as growth and past returns. It is significantly positively associated with future realized stock returns and also significantly correlates with commonly used risk characteristics in a theoretically predicted manner.
LONG HORIZONS, HIGH RISK AVERSION, AND ENDOGENOUS SPREADS

For an investor with constant absolute risk aversion and a long horizon, who trades in a market with constant investment opportunities and small proportional transaction costs, we obtain explicitly the optimal investment policy, its implied welfare, liquidity premium, and trading volume. We identify these quantities as the limits of their isoelastic counterparts for high levels of risk aversion. The results are robust with respect to finite horizons, and extend to multiple uncorrelated risky assets. In this setting, we study a Stackelberg equilibrium, led by a risk‐neutral, monopolistic market maker who sets the spread as to maximize profits. The resulting endogenous spread depends on investment opportunities only, and is of the order of a few percentage points for realistic parameter values.
Imperiled crayfishes use hyporheic zone during seasonal drying of an intermittent stream

Abstract Despite the prevalence and importance of intermittent streams, few studies have examined their use by crayfishes. We documented persistence in an intermittent stream and use of the hyporheic zone by 2 imperiled crayfishes, Orconectes williamsi and Orconectes meeki meeki, upon stream drying. During 2005 to 2007, we monitored summer flows and crayfish densities in 10 riffles in a Missouri (US) Ozark stream to document stream drying and crayfish persistence. Stream drying variables were riffle wetted area (m2) and current velocity (m/s). Crayfish density estimates were obtained with a quadrat sampler. We sampled monthly (May–August 2006) to examine crayfish response to decreased flows, and excavated dry quadrat samples (to 30 cm depth) after surface flows ceased. Over 2 periods during summer 2007, we used baited traps in the stream and a downstream reservoir where the stream terminates to examine whether crayfish migrated from the stream to permanent water in response to drying. Riffles dried significantly by July, few had surface water present by August, and all were rewetted by the following June. Annual June densities of O. williamsi remained stable throughout the study, whereas densities of O. m. meeki were lower in 2007 than 2005. Both species burrowed to the hyporheic zone during drying, and crayfish densities were similar to those estimated in riffles before drying. We found no evidence that either species migrated to permanent water in the reservoir during drying. Use by crayfish of the hyporheic zone during drying and interannual persistence in intermittent streams suggests that hyporheic habitats are important for conservation of these crayfishes. Our study contributes to the increasing body of knowledge that indicates the importance of intermittent streams for conservation of freshwater biodiversity.
Competition, Imitation, and R&D Productivity in a Growth Model with Sector-Specific Patent Protection

Recent empirical studies suggest a need for a flexible patent regime responding to industry characteristics. In practice, sector-specific modifications of patent strength already exist but lack theoretical foundation. This paper intends to make up for this neglect by scrutinizing in what direction industry characteristics influence optimal patent strength. It is found that patents ought to be weaker, the more intense competition, the higher R&D productivity, and the more intricate reverse engineering are. Unlike similar step-by-step innovation models of economic growth, the model assumes Cournot competition and introduces an empirically substantiated measure of sector differences in the ability to catch up with the technological leader. It is found that for most empirically plausible cases the familiar inverted-U relation between patent length and growth carries over to the Cournot set-up.
The Effect of Leverage in Asset Pricing, an Empirical Study of Indonesian Market

Background – The based model of asset pricing, CAPM, only considers the surrounding factors of the asset. It omits the internal factors of the asset itself. Some scholars only consider the one factor which contributes to the asset pricing; it could be the Size or Earning Price Ratio or Leverage or other financial factors. Empirically, the asset pricing model combines the financial factors into the asset pricing and it has not considered the leverage as one of the financial factors all together. <br><br>Purpose – The study adds the leverage into empirical model of asset pricing together with other financial factors i.e. Size, Book to Market, Operating Profit, and Investment. The excess return is considered as a proxy of asset pricing and its value will be assessed by all the factors proxied in the model. <br><br>Design/Method/Approach – Data used in this study is monthly adjusted prices and other financial factors of all stock listed in the Indonesian Market from the period of 2006 to 2015. The examination of all financial factors proxied in this model empirically has been done by having the stationary test and statistical relationship among the excess return and the factors. It will be used the portfolio approach to examine the relationship among them since the surrounding factors are better represent the asset pricing. <br><br>Findings – The finding suggests that all the financial factors involved in the empirical asset pricing have contributed to the empirical asset pricing and all the factors of asset pricing have different characteristic in influencing the excess return of the portfolios in general and in diversified approach. <br><br>Research Limitations – The study has been done in Indonesian Market only and it used the financial report of each firms in the market as the main data resource. The study does not consider the financial institutions since they might have different composition of leverage compare to other firms, and they might bias the results of study. <br><br>Originality/Value – This empirical study has been done in Indonesia and considers the leverage as additional factors of the asset pricing factors together with other asset pricing factors of asset pricing. The leverage as the single factor has been considered as important factors for asset pricing however how far the leverage contribute to asset pricing compares to other financial factors has not examined yet.
Service Refusal in the Sharing Economy: Evidence of the New-User Bias

Service refusal (i.e., providers refuse to provide service to users), which has become an increasingly serious problem in the sharing economy, remains unexplored. Through the application of rigorous identification strategies on a rich data set from a large sharing economy platform, this study empirically investigates providers’ service refusal decisions. The results suggest that service providers on the investigated platform are more likely to refuse service to new users than to repeat-purchase users. This phenomenon is weakened by the increased business tenure and business scale of the providers (i.e., their tenure on the platform and the size of their user base, respectively), but is strengthened by an increase in their refusal experience (i.e., refusal ratio). Our empirical findings provide important contributions to the literature on the sharing economy and online service management. The findings also provide insightful managerial implications to online service providers, users, and platform managers in the sharing economy.
Toxidez de zinco no crescimento e nutrição de Eucalyptus maculata e Eucalyptus urophylla em solução nutritiva

The objective of this work was to evaluate the effect of excessive doses of Zn on growth and nutrition of eucalyptus in a greenhouse experiment. Seedlings of Eucalyptus maculata and Eucalyptus urophylla were grown in pots containing 2 L of Clark's nutrient solution, adding increasing levels of Zn, in mM: 0, 400, 800, 1,200 and 1,600 supplied as ZnSO4. After five weeks, plants exhibited internerval chlorosis, dark roots and growth inhibition, even in lower metal levels. The critical metal dose in the solution, for 10% reduction of shoot dry matter, was 170.3 mM and 73.0 mM in E. maculata and E. urophylla, respectively. The plant critical toxicity levels were 853 mg kg-1 in E. maculata and 697.8 mg kg-1 in E. urophylla. These results indicate that E. maculata is more tolerant to Zn than E. urophylla. High levels of Zn reduced concentrations of Fe and Ca in shoot dry matter to levels considered deficient for the growth of both species. Translocation of Fe from roots to shoots was also reduced, independently of the species, of 21% in control to 2% in 1,600 mM Zn, indicating strong relationship among dry matter reduction and induced Fe-deficiency in plants.
Modeling feeding processes: a test of a new model for sea bream (Sparus aurata) larvae

An organism's feeding rate is governed by constraints imposed by processes associated with consumption. We present a general feeding model that incorporates encounter, successful pursuit, handling, and digestion in one functional representation where we treat digestion as a parallel process. The model produces type II functional response curves. However, the asymptotic maximum feeding rate is determined by the sum of the time spent for handling and digesting a prey minus the gain in time, since the digestion process is parallel to the handling process. We use our model in combination with existing models of encounter, successful pursuit, and digestion to evaluate the feeding rate of fish larvae. We test the model against experimental data for sea bream (Sparus aurata) larvae and find a very close quantitative correspondence between predictions and experiments. Sensitivity analysis shows that for the early developmental stages, the model is sensitive to parameters related to the visual and locomotion abili.