A note on convergence of Peck-Shell and Green-Lin mechanisms in the Diamond-Dybvig model

We study the effects of population size in the Peck-Shell analysis of bank runs. We find that a contract featuring equal-treatment for almost all depositors of the same type approximates the optimum. Because the approximation also satisfies Green-Lin incentive constraints, when the planner discloses positions in the queue, welfare in these alternative specifications are sandwiched. Disclosure, however, it is not needed since our approximating contract is not subject to runs.

The dead core model applied to beads with immobilized cells in a fed-batch cephalosporin C production bioprocess

Viable cells immobilized in inert supports are currently studied for a wide range of bioprocesses. The intrinsic advantages of such systems over suspended cultures incite new research, including studies on fundamental aspects as well as on the industrial viability of these non-conventional processes. In aerobic culture of filamentous fungi, scale-up is hindered by oxygen mass transfer limitation through the support material and bioprocess kinetics must be studied together with mass transfer limitation. In this work, experimental and simulated data of cephalosporin C production were compared. Concentrations in the bulk fermentation medium and cellular mass profiles inside the bioparticles are focused. Immobilized cells were used in a tower bioreactor, operated in fed-batch mode. To describe the radial variation of oxygen concentration within the pellet, a dead core model was used. Despite the extremely low sugar concentrations, bioreaction rates in the pellets were limited by the dissolved oxygen concentration. Cell growth occurs only in the outer layers, a result also confirmed by scanning electron microscopy. (C) 2001 Elsevier B.V. Ltd. All rights reserved.

Chronostratigraphy on sediment core CRP-2 from the Ross Sea, Antarctica

Strontium isotope stratigraphy was used to date 16 discrete horizons within the CRP-2/2A drillhole. Reworked Quaternary (<1.7 Ma) and possible Pliocene (<2.4 Ma) sediments overlie a major sequence boundary at 25.92 meters below sea floor (mbsf). This hiatus is estimated to account for c. 16 Myr of missing section. Early Miocene to ?earliest Oligocene (c. 18.6 to >31 Ma) deposits below this boundary were cut by multiple erosion surfaces of uncertain duration. Strontium isotope ages are combined with 40Ar/39Ar dates, diatom and calcareous nannofossil datum and a palaeomagnetic polarity zonation, to produce an age model for the core.