Response of residential electricity demand to price: The effect of measurement error

In this paper we present an empirical analysis of the residential demand for electricity using annual aggregate data at the state level for 48 US states from 1995 to 2007. Earlier literature has examined residential energy consumption at the state level using annual or monthly data, focusing on the variation in price elasticities of demand across states or regions, but has failed to recognize or address two major issues. The first is that, when fitting dynamic panel models, the lagged consumption term in the right-hand side of the demand equation is endogenous. This has resulted in potentially inconsistent estimates of the long-run price elasticity of demand. The second is that energy price is likely mismeasured.

Epitaxial strain stabilization of ferroelectric phase in PbZrO3 thin films

PbZrO3/SrRuO3/SrTiO3 (100) epitaxial heterostructures with different thickness of the PbZrO3 (PZO) layer (d(PZO) similar to 5-160 nm) were fabricated by pulsed laser deposition. The ultrathin PZO films (d(PZO) <= 10 nm) were found to possess a rhombohedral structure. On increasing the PZO film thickness, a bulk like orthorhombic phase started forming in the film with d(PZO) similar to 22 nm and became abundant in the thicker films. Nanobeam electron diffraction and room-temperature micro-Raman measurements revealed that the stabilization of the rhombohedral phase of PZO could be attributed to the epitaxial strain accommodated by the heterostructures. Room-temperature polarization vs electric field measurements performed on different samples showed characteristic double hysteresis loops of antiferroelectric materials accompanied by a small remnant polarization for the thick PZO films (dPZO >= 50 nm). The remnant polarization increased by reducing the PZO layer thickness, and a ferroelectric like hysteresis loop was observed for the sample with d(PZO) similar to 22 nm. Local ferroelectric properties measured by piezoresponse force microscopy also exhibited a similar thickness-dependent antiferroelectric-ferroelectric transition. Room-temperature electrical properties observed in the PZO thin films in correlation to their structural characteristics suggested that a ferroelectric rhombohedral phase could be stabilized in thin epitaxial PZO films experiencing large interfacial compressive stress.

Improvement, not stabilization or slowing the decline of ocular disease:The final frontier in treatment

Therapeutic strategies aimed to reverse the pathogenic process, replace diseased tissue, and restore visual function represent the final frontier in treatment of chronic ocular disease. The goal in this approach is improvement, not stabilization or slowing the decline of the disease. Lines of research that can lead to identification of new treatments that could reverse the disease course are reviewed.

Antioxidant Activity of Sesame (Seasamum indicum L.) Cake Extract for the Stabilization of Olein Based Butter

This study investigated the effect of ethanolic sesame cake extract on oxidative stabilization of olein based butter. Fractionation of cream was performed by the dry fractionation technique at 10 °C, ethanolic sesame cake extract (SCE) was incorporated into olein butter at three different concentrations; 50, 100, 150 ppm (T1, T2, T3) and compared with a control. The total phenolic content of SCE was 1.72 (mg gallic acid equivalent g−1 dry weight). The HPLC characterization of ethanolic sesame cake revealed the presence of antioxidant substances viz. sesamol, sesamin and sesamolin in higher extents. The DPPH free radical scavenging activity of SCE was 83 % as compared to 64 and 75 % in BHA and BHT. Fractionation of milk fat at 10 °C significantly (p < 0.05) influenced the fatty acid profile of olein and stearin fractions from the parent milk fat. Concentration of oleic acid and linoleic acid in olein fraction was 29.62 and 33.46 % greater than the parent milk fat. The loss of C18:1 in 90 days stored control and T3 was 24.37 and 3.58 %, respectively, 58 % C18:2 was broken down into oxidation products over 8.55 % loss in T3. The peroxide value of control, T1, T2, BHT and T3 in the Schaal oven test was 8.59, 8.12, 5.34, 4.52 and 2.49 (mequiv O2/kg). The peroxide value and anisidine value of 3 months stored control and T3 were 1.21, 0.42 (mequiv O2/kg) and 27.25, 13.25, respectively. The concentration of conjugated dienes in T3 was substantially less than the control. The induction period of T3 was considerably higher than BHT with no difference in sensory characteristics (p > 0.05). Ethanolic SCE can be used for the long-term preservation of olein butter, with acceptable sensory characteristics.

Trading Activity in Options and Stock Around Price-Sensitive News Announcements

This study investigates the trading activity in options and stock markets around informed events with extreme daily stock price movements. We find that informed agents are more likely to trade options prior to negative news and stocks ahead of positive news. We also show that optioned stocks overreact to the arrival of negative news, but react efficiently to positive news. However, the overreaction patterns are unique to the subsample of stocks with the lowest pre-event abnormal option/stock volume ratio (O/S). This finding suggests that the incremental benefit of option listing is related to the level of option trading activity, over and beyond the presence of an options market on the firm's stock. Finally, we find that the pre-event abnormal O/S is a better predictor of stock price patterns following a negative shock than is the pre-event O/S, implying that the former may contain more information about the future value of stocks than the latter.