Conflicts of interest, information provision and competition in banking

In some markets, such as the market for drugs or for financial services, sellers have better information than buyersregarding the matching between the buyer's needs and the good's actual characteristics. Depending on the market structure,this may lead to conflicts of interest and/or the underprovision of information by the seller. This paper studies this issuein the market for financial services. The analysis presents a new model of competition between banks, as banks' pricecompetition influences the ensuing incentives for truthful information revelation. We compare two different firm structures,specialized banking, where financial institutions provide a unique financial product, and one-stop banking, where a financialinstitution is able to provide several financial products which are horizontally differentiated. We show first that, althoughconflicts of interest may prevent information disclosure under monopoly, competition forces full information provision forsufficiently high reputation costs. Second, in the presence of market power, one-stop banks will use information strategicallyto increase product differentiation and therefore will always provide reliable information and charge higher rices thanspecialized banks, thus providing a new justification for the creation of one-stop banks. Finally, we show that, ifindependent financial advisers are able to provide reliable information, this increases product differentiation and thereforemarket power, so that it is in the interest of financial intermediaries to promote external independent financial advice.

Parental altruism under imperfect information: Theory and evidence

Can we reconcile the predictions of the altruism model of the family withthe evidence on parental monetary transfers in the US? This paper providesa new assessment of this question. I expand the altruism model by introducingeffort of the child and by relaxing the assumption of perfect informationof the parent about the labor market opportunities of the child. First,I solve and simulate a model of altruism and labor supply under imperfectinformation. Second, I use cross-sectional data to test the following prediction of the model: Are parental transfers especially responsive tothe income variations of children who are very attached to the labor market? The results of the analysis suggest that imperfect informationaccounts for many of the patterns of intergenerational transfers in theUS.

Towards storage and access of electronic theses: A proposal of its organisation for the Consortium of Catalan Libraries

Els objectius d'aquest informe són realitzar un estudi de la tècnica en la digitalització, l'emmagatzematge i l'accés a les tesis doctorals electròniques, per tal de fer una proposta d’organització al Consorci de Biblioteques Universitàries de Catalunya (CBUC). Actualment, tot i que existeixen diverses iniciatives a Europa, és als EUA on la digitalització de tesis doctorals s’ha desenvolupat més amb la creació de la Networked Digital Library for Theses and Dissertation (NDLTD), i ha estat qui ha definit els estàndards en aquest camp. En el següent informe es planteja i es recomana al CBUC l’adhesió institucional a l’NDLTD per poder gaudir de la seva experiència.

Information security and the enforcement of secrecy : the practical application of quantum key distribution

There is no doubt about the necessity of protecting digital communication: Citizens are entrusting their most confidential and sensitive data to digital processing and communication, and so do governments, corporations, and armed forces. Digital communication networks are also an integral component of many critical infrastructures we are seriously depending on in our daily lives. Transportation services, financial services, energy grids, food production and distribution networks are only a few examples of such infrastructures. Protecting digital communication means protecting confidentiality and integrity by encrypting and authenticating its contents. But most digital communication is not secure today. Nevertheless, some of the most ardent problems could be solved with a more stringent use of current cryptographic technologies. Quite surprisingly, a new cryptographic primitive emerges from the ap-plication of quantum mechanics to information and communication theory: Quantum Key Distribution. QKD is difficult to understand, it is complex, technically challenging, and costly-yet it enables two parties to share a secret key for use in any subsequent cryptographic task, with an unprecedented long-term security. It is disputed, whether technically and economically fea-sible applications can be found. Our vision is, that despite technical difficulty and inherent limitations, Quantum Key Distribution has a great potential and fits well with other cryptographic primitives, enabling the development of highly secure new applications and services. In this thesis we take a structured approach to analyze the practical applicability of QKD and display several use cases of different complexity, for which it can be a technology of choice, either because of its unique forward security features, or because of its practicability.

Informe sobre la I International Conference on Multidisciplinary Information Sciences and Technologies - InSciT2006 (Mèrida, 25, 26, 27 i 28 d'octubre de 2006)

Podeu consultar la versió en castellà a http://hdl.handle.net/2445/8955

Informe sobre la I International Conference on Multidisciplinary Information Sciences and Technologies - InSciT2006 (Mérida, 25, 26, 27 y 28 de octubre de 2006)

Podeu consultar la versió en català a http://hdl.handle.net/2445/8954

Physical properties of a humic cambisol under tillage and cropping systems after twelve years

Soil is the basis underlying the food production chain and it is fundamental to improve and conserve its productive capacity. Imbalanced exploitation can degrade agricultural areas physical, chemical and biologically. The objective of this study was to evaluate some soil physical properties and their relation with organic carbon contents of a Humic Dystrudept under conventional tillage (CT) and no-tillage (NT), for 12 years in rotation (r) and succession (s) cropping systems. The experiment was carried out in Lages, SC (latitude 27 º 49 ' S and longitude 50 º 20 ' W, 937 m asl), using crop sequences of bean-fallow-maize-fallow-soybean in conventional tillage rotation; maize-fallow in conventional tillage succession; bean-oat-maize-turnip-soybean-vetch in no-tillage rotation; and maize-vetch in no-tillage succession. The experimental design was completely randomized with four replications. The soil samples were collected in the layers 0-2.5, 2.5-5, 5-10, and 10-20 cm. The following properties were analyzed: soil density, porosity, aggregate stability, degree of flocculation, water retention, infiltration, mechanical strength, and total organic carbon. Soil aggregation in the surface layer (0-5 cm) was better in the no-tillage than the conventional system, related to higher microporosity, organic carbon contents and water retention capacity, indicating that a periodical tillage of this soil is unnecessary. Infiltration was highest in no-tillage with crop succession.

Soil microbial biomass under different management and tillage systems of permanent intercropped cover species in an orange orchard

To mitigate soil erosion and enhance soil fertility in orange plantations, the permanent protection of the inter-rows by cover species has been suggested. The objective of this study was to evaluate alterations in the microbial biomass, due to different soil tillage systems and intercropped cover species between rows of orange trees. The soil of the experimental area previously used as pasture (Brachiaria humidicola) was an Ultisol (Typic Paleudult) originating from Caiuá sandstone in the northwestern part of the State of Paraná, Brazil. Two soil tillage systems were evaluated: conventional tillage (CT) in the entire area and strip tillage (ST) (strip width 2 m), in combination with different ground cover management systems. The citrus cultivar 'Pera' orange (Citrus sinensis) grafted onto 'Rangpur' lime rootstock was used. Soil samples were collected after five years of treatment from a depth of 0-15 cm, under the tree canopy and in the inter-row, in the following treatments: (1) CT and an annual cover crop with the leguminous species Calopogonium mucunoides; (2) CT and a perennial cover crop with the leguminous peanut Arachis pintoi; (3) CT and an evergreen cover crop with Bahiagrass Paspalum notatum; (4) CT and a cover crop with spontaneous Brachiaria humidicola grass vegetation; and (5) ST and maintenance of the remaining grass (pasture) of Brachiaria humidicola. Soil tillage and the different cover species influenced the microbial biomass, both under the tree canopy and in the inter-row. The cultivation of brachiaria increased C and N in the microbial biomass, while bahiagrass increased P in the microbial biomass. The soil microbial biomass was enriched in N and P by the presence of ground cover species and according to the soil P content. The grass species increased C, N and P in the soil microbial biomass from the inter-row more than leguminous species.

Heat capacity measurements on the equiatomic compounds in Ni-X (X = Al, In, Si, Ge and Bi) and M-Sb (with M = Ni, Co and Fe) systems

Molar heat capacities of the binary compounds NiAl, NiIn, NiSi, NiGe, NiBi, NiSb, CoSb and FeSb were determined every 10 K by differential scanning calorimetry in the temperature range 310-1080 K. The experimental results have been fitted versus temperature according to C-p = a + b . T + c . T-2 + d . T-2. Results are given, discussed and compared to estimations found in the literature. Two compounds, NiBi and FeSb, are subject to transformations between 460 and 500 K. (C) 1999 Elsevier Science Ltd. All rights reserved.

Water erosion in no-tillage monoculture and intercropped systems along contour lines

Water erosion is the major cause of soil and water losses and the main factor of degradation of agricultural areas. The objective of this work was to quantify pluvial water erosion from an untilled soil with crop rows along the contour, in 2009 and 2010, on a Humic Dystrupept, with the following treatments: a) maize monoculture; b) soybean monoculture; c) common bean monoculture; d) intercropped maize and bean, exposed to four simulated rainfall tests of on hour at controlled intensity (64 mm h-1). The first test was applied 18 days after sowing and the others; 39, 75 and 120 days after the first test. The crop type influenced soil loss through water erosion in the simulated rainfall tests 3 and 4; soybean was most effective in erosion control in test 3, however, in test 4, maize was more effective. Water loss was influenced by the crop type in test 3 only, where maize and soybean were equally effective, with less runoff than from the other crops. The soil loss rate varied during the runoff sampling period in different ways, demonstrating a positive linear relationship between soil and water loss, in the different rainfall tests.

Soil carbon and nitrogen stocks in traditional agricultural and agroforestry systems in the semiarid region of Brazil

In the semiarid region of Brazil, inadequate management of cropping systems and low plant biomass production can contribute to reduce soil carbon (C) and nitrogen (N) stocks; therefore, management systems that preserve C and N must be adopted. This study aimed to evaluate the changes in soil C and N stocks that were promoted by agroforestry (agrosilvopastoral and silvopastoral) and traditional agricultural systems (slash-and-burn clearing and cultivation for two and three years) and to compare these systems with the natural Caatinga vegetation after 13 years of cultivation. The experiment was carried out on a typical Ortic Chromic Luvisol in the municipality of Sobral, Ceará, Brazil. Soil samples were collected (layers 0-6, 6-12, 12-20, 20-40 and 40-60 cm) with four replications. The plain, convex and concave landforms in each study situation were analyzed, and the total organic C, total N and densities of the soil samples were assessed. The silvopastoral system promoted the greatest long-term reductions in C and N stocks, while the agrosilvopastoral system promoted the smallest losses and therefore represents a sustainable alternative for soil C and N sequestration in these semiarid conditions. The traditional agricultural system produced reductions of 58.87 and 9.57 Mg ha-1 in the organic C and total N stocks, respectively, which suggests that this system is inadequate for these semiarid conditions. The organic C stocks were largest in the concave landform in the agrosilvopastoral system and in the plain landform in the silvopastoral system, while the total N values were highest in the concave landform in the native, agrosilvopastoral and silvopastoral systems.

Soil physical properties and grape yield influenced by cover crops and management systems

The use of cover crops in vineyards is a conservation practice with the purpose of reducing soil erosion and improving the soil physical quality. The objective of this study was to evaluate cover crop species and management systems on soil physical properties and grape yield. The experiment was carried out in Bento Gonçalves, RS, Southern Brazil, on a Haplic Cambisol, in a vineyard established in 1989, using White and Rose Niagara grape (Vitis labrusca L.) in a horizontal, overhead trellis system. The treatments were established in 2002, consisting of three cover crops: spontaneous species (SS), black oat (Avena strigosa Schreb) (BO), and a mixture of white clover (Trifolium repens L.), red clover (Trifolium pratense L.) and annual rye-grass (Lolium multiflorum L.) (MC). Two management systems were applied: desiccation with herbicide (D) and mechanical mowing (M). Soil under a native forest (NF) area was collected as a reference. The experimental design consisted of completely randomized blocks, with three replications. The soil physical properties in the vine rows were not influenced by cover crops and were similar to the native forest, with good quality of the soil structure. In the inter-rows, however, there was a reduction in biopores, macroporosity, total porosity and an increase in soil density, related to the compaction of the surface soil layer. The M system increased soil aggregate stability compared to the D system. The treatments affected grapevine yield only in years with excess or irregular rainfall.

Residual effect of soil tillage on water erosion from a Typic Paleudalf under long-term no-tillage and cropping systems

Soil erosion is one of the chief causes of agricultural land degradation. Practices of conservation agriculture, such as no-tillage and cover crops, are the key strategies of soil erosion control. In a long-term experiment on a Typic Paleudalf, we evaluated the temporal changes of soil loss and water runoff rates promoted by the transition from conventional to no-tillage systems in the treatments: bare soil (BS); grassland (GL); winter fallow (WF); intercrop maize and velvet bean (M+VB); intercrop maize and jack bean (M+JB); forage radish as winter cover crop (FR); and winter cover crop consortium ryegrass - common vetch (RG+CV). Intensive soil tillage induced higher soil losses and water runoff rates; these effects persisted for up to three years after the adoption of no-tillage. The planting of cover crops resulted in a faster decrease of soil and water loss rates in the first years after conversion from conventional to no-tillage than to winter fallow. The association of no-tillage with cover crops promoted progressive soil stabilization; after three years, soil losses were similar and water runoff was lower than from grassland soil. In the treatments of cropping systems with cover crops, soil losses were reduced by 99.7 and 66.7 %, compared to bare soil and winter fallow, while the water losses were reduced by 96.8 and 71.8 % in relation to the same treatments, respectively.