Modelling regular and estimable inverse demand systems : a distance function approach

To be useful for policy simulation in the current climate of rapid structural change, inverse demand systems must remain regular over substanstial variations in quantities. The distance function is a convenient vehicle for generating such systems. It also allows convenient imposition of prior ideas about the structure of preferences required for realistic policy work. While the distance function directly yields Hicksian inverse demand functions via the Shepard-Hanoch lemma, they are usually explicit in the unobservable level of utility (u), but lack a closed-form representation in terms of the observable variables. Note however that the unobservability of u need not hinder estimation. A simple one-dimensional numerical inversion allows the estimation of the distance function via the parameters of the implied Marshallian inverse demand functions. This paper develops the formal theory for using distance functions in this context, and reports on initial trials on the operational feasibility of the method.

Spatial and temporal changes in abundance of the infaunal bivalve Soletellina alba (Lamark, 1818) during a time of drought in the seasonally-closed Hopkins River Estuary, Victoria Australia

The infaunal bivalve Soletellina alba is susceptible to mass mortalities during annual winter flooding in the Hopkins River Estuary, southern Australia. Periods of low salinity (≤1) are the likely cause of these mass mortality events, which can occur in seasonally-closed estuaries when high winter flows are sufficient to flush all salt water from the estuary. Core samples of S. alba were collected from two water depths across four times and at three sites near the mouth of the estuary. Minimal to zero abundances of large S. alba (>1 mm) were expected to be sampled, particularly at the shallower water depth, during a typical winter flood event. However, the present study occurred during a period of drought, which led to the absence of winter flooding. This absence of winter flooding prevented the occurrence of lethal salinities (i.e. ≤1) in the estuary during this period and a greater number of living S. alba adults were sampled. Abundances of juvenile and adult S. alba were still variable, even in the absence of winter flooding, and reflected an interaction between date, site and water depth. However, no mass mortalities of adults were observed during the drought conditions in contrast to what occurs during typical winter flood events and provides support for the hypothesis that winter flooding is responsible for past mass mortalities.

The costs of raising equity capital for closed-end fund IPOs

This article reports on some of the direct costs of raising equity capital by closed-end fund licensed investment company (LIC) initial public offerings (IPOs) in Australia from 1995 to 2005. The amount of underpricing by these IPOs is also identified. The average total direct costs amounted to a relatively low 3.4% of the capital raised, while fees paid to underwriters and/or stockbrokers was around 2.3%, to legal firms around 0.25% and to accounting firms around 0.07%. The average underpricing by these LIC IPOs was 1.3%. This article also confirms that the percentage total direct capital raising costs are inversely related to the size of the IPO and underwritten closed-end fund IPOs tend to have higher percentage total capital raising costs than those not underwritten.

Compressive deformation behaviour of a closed-cell aluminum

The mechanical properties of a closed-cell aluminium foam were investigated by compressive tests, and the deformation behaviours of the aluminium foams were studied using Xray microtomography. The results indicate that the deformation of the aluminium foams under compressive loading was localized in narrow continuous deformation bands having widths of order of a cell diameter. The cells in the deformation bands collapsed by a mixed deformation mechanism, which includes mainly bending and minor buckling and yielding. Different fractions of the three deformation modes led to variations in the peak stress and energy absorption for different foam samples with the same density. It was also found that the cell morphology affects the deformation mechanism significantly, whilst the cell size shows little influence.

Effect of cell characteristics on the compressive deformation behavior of a closed-cell aluminium

In this study, the mechanical properties of a closed-cell aluminium foam have been investigated by compressive tests. The deformation behaviors of the aluminium foams were studied using X-ray microtomography (XMT). Aluminium foam samples with various cell size distributions and cell
morphologies were intentionally selected to investigate the effect of the cell characteristics on the deformation behaviors. Results indicated that the deformation of the aluminium foams under compressive loading was localized in narrow continuous deformation bands having widths of order of a cell diameter. The cells in the deformation bands collapsed by a mixed deformation mechanism, which includes mainly bending, and also minor buckling and yielding as well. Different fractions of the three deformation modes led to variations in the peak stress and energy absorption for different foam samples with the same density. It was also found that the cell morphology affected the deformation mechanism significantly, whilst the cell size showed little influence. Those cells with defects such as corrugations, curvatures and non-uniformities in the wall thickness were the initiators of the deformation bands of the aluminium foam.

In situ growth of Soletellina alba (Bivalvia: Psammobiidae) in response to detrital supply and mouth status in a seasonally-closed estuary

The supply of detritus is an important food source for many soft-sediment invertebrates, but its importance for their growth and condition is rarely, if ever, tested directly using manipulative field experiments. Therefore, we designed such a study to: (1) test the importance of fine particulate organic matter for the growth and condition of the infaunal bivalve Soletellina alba; (2) indirectly test the feeding mode of S. alba, which has been assumed to be a deposit feeder like other members of the same superfamily (Tellinoidea); (3) compare growth rates across two summers with contrasting patterns of estuary mouth opening/closing; and (4) compare the condition of individuals used in two field studies (i.e. present versus past) and a past laboratory study. Neither growth nor condition differed when organic content of the sediments was varied, which suggests that S. alba is either a suspension feeder or capable of switching modes of feeding. There was considerable interannual variation in growth with greater growth occurring during the summer with a longer period of mouth opening. This suggests that periods of mouth closure may reduce secondary production within seasonally-closed estuaries. Potential artefacts associated with laboratory trials were also identified, with laboratory bivalves exhibiting poorer condition than those used in two field trials. The present study provides no evidence that variable quantities and qualities of organic matter within the sediments influence the growth and condition of S. alba, but future studies should focus on food supplied via the water column when the estuary is open versus closed.

The influence of leisure preference, life priority and making time on regular participation in leisure time physical activity

Using an attitude-behaviour theory approach this study examined the direct and indirect influence of preference, life priority and time allocation on regular participation in leisure-time physical activity (LTPA). The crosssectional study used self-report questionnaires to collect data from a random sample of 250 people aged 19 to 87 years living in an Australian city. The findings suggest that people’s regular participation in LTPA is not directly influenced by their preference for it. Rather, making LTPA a high life priority and allocating time for LTPA are intervening factors that explain the relationship. The outcomes emphasise the importance of encouraging the formation of a preference for physical activity in young children. They suggest all levels of government and the leisure profession emphasise work/life balance by prioritising LTPA, educating people about time management and helping them to develop time management skills.

Internal and external imagery perspective measurement and use in imagining open and closed sport skills: an exploratory study

This study explored the measurement and use of internal and external imagery perspectives during imagery of open and closed sports skills. Participants  (N=41; male=23; female = 18), ages 14 to 28 (M=19.4 yr.; sD=3.1), who were recruited from undergraduate classes in human movement and physical education, and local sporting teams, completed the Imagery Use Questionnaire and then imagined performing eight common sports skills, four open skills and four closed skills, in a random order. Participants provided concurrent verbalisation during their imagery. Immediately after imagining each skill, participants completed a rating scale and retrospective verbalisation of imagery perspective use. Analysis indicated that the questionnaire gave a general imagery perspective preference but was not a strong predictor of imagery used on specific occasions. The three measures of imagery perspective were equivalent in imagining performing particular skills. Participants experienced more internal imagery than external imagery while imagining the eight sports skills, but there was no significant difference between perspective use on the open and closed skills.

Invertebrate larval dynamics in seasonally closed estuaries

Estuarine benthic assemblages are often numerically dominated by polychaetes. The limits of these populations are determined by larval, and probably to a lesser extent adult movement. A previous study (Newton 1996), indicated that planktonic polychaete larvae were very abundant over the summer months in the Hopkins River; however, the identification and source of these larvae was not known. Defining the extent of a population, and therefore the likelihood of that population recovering following a perturbation, is crucial for effective estuarine management. This study investigated both the likely source of the larvae, (i.e. estuarine or marine) and the extent of larval dispersal within and between estuaries by addressing the following questions: Which taxa produced the planktonic larvae? Are these taxa resident estuarine species? Are the larvae of different taxa evenly distributed within the estuary or do physicochemical parameters or other factors influence their abundance? Are the same larvae found in other estuaries along the coast? and Is there exchange of these larval taxa with the marine environment and other estuaries? Larvae were identified and described by culturing commonly occurring planktonic larvae until adult characteristics appeared. The spionids, Carazziella victoriensis and Prionospio Tatura, numerically dominated the plankton in the Hopkins and the spionid, Orthoprionospio cirriformia was recorded from the Hopkins, Curdies and Gellibrand estuaries. Two spionids, Carazziella sp. and Polydora sp. were identified from tidal waters. Mouth status and physicochemical conditions (salinity, temperature and dissolved oxygen) were monitored in each estuary. Whereas the Merri and Gellibrand estuaries were predominantly stratified over the sampling period, the Curdies was more often well mixed and the Hopkins varied from well mixed to stratified. The duration of mouth opening and hence the opportunity for larval exchange also varied in each estuary. The Merri River was closed for 13.5% of days over the study period, the Gellibrand River for 18.4%, the Hopkins River for 49% and the Curdies River for 71.0%. The distributions of larvae at spatial scales of metres, 100s of metres and kilometres were investigated within a single estuary. While the same larvae, C. victoriensis, P. Tatura and bivalve larvae, were found along the length of the Hopkins estuary the abundances varied at different spatial scales suggesting different processes were influencing the distribution of P. Tatura larvae, and C. victoriensis and bivalve larvae. The distribution of larvae between several estuaries was investigated by monitoring meroplankton at two sites at the mouth of each of the four estuaries approximately monthly (except for winter months). Different meroplanktonic assemblages were found to distinguish each estuary. Further, C. victoriensis and P. Tatura larvae were only recorded in the Hopkins but larvae of the spionid, Orthoprionopio cirriformia were detected in the Hopkins, Curdies and Gellibrand estuaries. The extent of larval exchange with other estuaries and the marine environment was determined by monitoring tidal waters. Settlement trays were also deployed to determine if larvae were moving into estuaries and settling but not recruiting. P. tatura larvae were not detected in the tidal waters of any estuary and while C. victoriensis and O. cirriformia were found in both flood and ebb tides there was no evidence of movement of theses taxa to other estuaries. Larvae of the spionids, Carazziella sp. and Polydora sp., were found in tidal waters of each estuary but were rarely detected in the plankton within the estuaries. Neither species was found as an adult in background cores from any estuary, nor with the exception of a few individuals in the Merri, were they detected in settlement trays in any estuary. I conclude that the source of the larvae of C. victoriensis, P. Tatura and O. cirriformia is estuarine and while C. victoriensis, and O. cirriformia move in and outh of the source estuary in tidal waters there was no evidence for movement to other estuaries. The spionids, Carazziella sp. and Polydora sp were considered to be marine and while they moved in and out of estuaries in tidal waters they did not usually settle in the estuaries. The results of this study are a crucial first step in the development of ecological models to better understand dispersal in seasonally closed estuaries that are typical of southern Australia. This study emphasises the unique physicochemical characteristics and biological assemblages within these estuaries and the need for estuarine management to reflect these differences.