Human capital and regional development

We investigate the determinants of regional development using a newly constructed database of 1569 sub-national regions from 110 countries covering 74 percent of the world s surface and 97 percent of its GDP. We combine the cross-regional analysis of geographic, institutional, cultural, and human capital determinants of regional development with an examination of productivity in several thousand establishments located in these regions. To organize the discussion, we present a new model of regional development that introduces into a standard migration framework elements of both the Lucas (1978) model of the allocation of talent between entrepreneurship and work, and the Lucas (1988) model of human capital externalities. The evidence points to the paramount importance of human capital in accounting for regional differences in development, but also suggests from model estimation and calibration that entrepreneurial inputs and possibly human capital externalities help understand the data.

Money doctors

We present a new model of money management, in which investors delegate portfolio management to professionals based not only on performance, but also on trust. Trust in the manager reduces an investor's perception of the riskiness of a given investment, and allows managers to charge higher fees to investors who trust them more. Money managers compete for investor funds by setting their fees, but because of trust the fees do not fall to costs. In the model, 1) managers consistently underperform the market net of fees but investors still prefer to delegate money management to taking risk on their own, 2) fees involve sharing of expected returns between managers and investors, with higher fees in riskier products, 3) managers pander to investors when investors exhibit biases in their beliefs, and do not correct misperceptions, and 4) despite long run benefits from better performance, the profits from pandering to trusting investors discourage managers from pursuing contrarian strategies relative to the case with no trust. We show how trust-mediated money management renders arbitrage less effective, and may help destabilize financial markets.

What comes to mind

We present a model of intuitive inference, called local thinking, in which anagent combines data received from the external world with information retrieved frommemory to evaluate a hypothesis. In this model, selected and limited recall ofinformation follows a version of the respresentativeness heuristic. The model canaccount for some of the evidence on judgment biases, including conjunction anddisjunction fallacies, but also for several anomalies related to demand for insurance.

Learning of courtship components in Drosophila mercatorum (Paterson & Wheller) (Diptera, Drosophilidae)

In Drosophila, courtship is an elaborate sequence of behavioural patterns that enables the flies to identify conspecific mates from those of closely related species. This is important because drosophilids usually gather in feeding sites, where males of various species court females vigorously. We investigated the effects of previous experience on D. mercatorum courtship, by testing if virgin males learn to improve their courtship by observing other flies (social learning), or by adjusting their pre-existent behaviour based on previous experiences (facilitation). Behaviours recorded in a controlled environment were courtship latency, courtship (orientation, tapping and wing vibration), mating and other behaviours not related to sexual activities. This study demonstrated that males of D. mercatorum were capable of improving their mating ability based on prior experiences, but they had no social learning on the development of courtship.

Salience and consumer choice

We present a theory of context-dependent choice in which a consumer's attention is drawnto salient attributes of goods, such as quality or price. An attribute is salient for a good when itstands out among the good's attributes, relative to that attribute's average level in the choice set (orgenerally, the evoked set). Consumers attach disproportionately high weight to salient attributesand their choices are tilted toward goods with higher quality/price ratios. The model accounts fora variety of disparate evidence, including decoy effects, context-dependent willingness to pay, andlarge shifts in demand in response to price shocks.

Neglected risks, financial innovation and financial fragility

We present a standard model of financial innovation, in which intermediaries engineer securities with cash flows that investors seek, but modify two assumptions. First, investors (and possibly intermediaries) neglect certain unlikely risks. Second, investors demand securities with safe cash flows. Financial intermediaries cater to these preferences and beliefs by engineering securities perceived to be safe but exposed to neglected risks. Because the risks are neglected, security issuance is excessive. As investors eventually recognize these risks, they fly back to safety of traditional securities and markets become fragile, even without leverage, precisely because the volume of new claims is excessive.

Baerveldt aqueous shunt implantation into the ciliary sulcus

Purpose: Aqueous shunt implantation into the anterior chamber is associated with corneal decompensation in up to a third of eyes. Intracameral tube position may affect corneal endothelial cell loss. The authors set out to examine the efficacy and safety of Baerveldt shunt implantation into the ciliary sulcus combined with surgical peripheral iridectomy (SPI). Methods: One hundred eyes prospectively underwent Baerveldt shunt implantation into the cilliary sulcus combined with SPI, leaving a short intracameral tube length (1-2mm). Pre and post operative measures recorded included patient demographics, visual acuity, IOP, number of glaucoma medications (GMs) and all complications. Pre-existing corneal decompensation was recorded. Success was defined as IOP≤21mmHg and 20% reduction in IOP from baseline with or without GMs. Results: Mean age was 65.4 years (±20.4years). Mean follow-up was 10.8 months. Preoperatively IOP was 25.7mmHg (± 9.9mmHg), GMs were 2.9 (±1.2) and VA was 0.4 (±0.3). At one year postoperatively there was a significant drop in IOP (mean= 13.3mmHg (± 5.0mmHg); p<0.001) and number of GMs (mean= 1.3 (±1.4); p<0.001); and no significant change in VA (mean= 0.4 (±0.3); p=0.93). The success rate at one year was 83%. Complications were minor and non sight threatening (10%), there were no cases of postoperative corneal decompensation, tube blockage or iris/corneal-tube contact. Conclusions: The results demonstrate that placement of Baerveldt shunts into the ciliary sulcus with SPI is a safe and efficacious method of IOP reduction in comparison with standard shunt positioning in the anterior chamber. The intracameral tube position combined with SPI avoided tube-iris contact and corneal decompensation. Sulcus placement of aqueous shunts should be considered in pseudophakic eyes.

Diversidade genética e eficiência simbiótica de rizóbios noduladores de acácia-negra de solos do Rio Grande do Sul

A acácia-negra é a terceira espécie florestal mais cultivada no Brasil. Além de sua importância econômica, é utilizada na recuperação de áreas degradadas, nas quais o solo geralmente apresenta pH baixo e altos teores de Al. O presente trabalho objetivou avaliar a diversidade genética de rizóbios naturais de solos do Rio Grande do Sul e selecionar isolados eficientes na fixação de N2 em condições de pH baixo. Um total de 50 isolados de Bradyrhizobium sp. foi obtido, os quais, juntamente com as estirpes recomendadas BR 3067 e BR 3068, foram caracterizados com o marcador BOX A 1-R. O padrão de bandas dos isolados foi utilizado na construção de um dendrograma, a partir do qual se calculou o índice de diversidade de Shannon. Dez isolados foram testados quanto à tolerância a pH baixo e à presença de Al, selecionando-se oito para o teste de eficiência simbiótica em casa de vegetação. Observou-se diversidade genética elevada entre os isolados, com a formação de 10 grupos, a partir do ponto de corte de 70 % de similaridade e com o índice de diversidade de 4,30. A presença de Al não afetou os isolados avaliados, que tiveram seu crescimento reduzido em pH 4,5. Quanto à eficiência simbiótica, os isolados T6-16 e V-7 foram os mais eficientes, assemelhando-se à estirpe recomendada BR 3068.

Behavioral avoidance tests to evaluate effects of cattle slurry and dairy sludge application to soil¹

The application of organic wastes to agricultural soils is not risk-free and can affect soil invertebrates. Ecotoxicological tests based on the behavioral avoidance of earthworms and springtails were performed to evaluate effects of different fertilization strategies on soil quality and habitat function for soil organisms. These tests were performed in soils treated with: i) slurry and chemical fertilizers, according to the conventional fertilization management of the region, ii) conventional fertilization + sludge and iii) unfertilized reference soil. Both fertilization strategies contributed to soil acidity mitigation and caused no increase in soil heavy metal content. Avoidance test results showed no negative effects of these strategies on soil organisms, compared with the reference soil. However, results of the two fertilization managements differed: Springtails did not avoid soils fertilized with dairy sludge in any of the tested combinations. Earthworms avoided soils treated with sludge as of May 2004 (DS1), when compared with conventional fertilization. Possibly, the behavioral avoidance of earthworms is more sensitive to soil properties (other than texture, organic matter and heavy metal content) than springtails

ALTERAÇÕES ELETROQUÍMICAS E DINÂMICA DE NUTRIENTES NA SOLUÇÃO DO SOLO EM ARROZ IRRIGADO COM LIXIVIADO INDUSTRIAL TRATADO

A utilização de efluentes industriais tratados na irrigação do arroz por alagamento pode provocar alterações eletroquímicas e aumentar o teor de nutrientes na solução do solo. Para testar essa hipótese, este trabalho teve por objetivo avaliar a dinâmica dos atributos químicos e eletroquímicos da solução do solo sob cultivo de arroz irrigado com lixiviado industrial tratado, contendo 820 mg L-1 de Na. O experimento foi conduzido em casa de vegetação, utilizando-se como unidades experimentais vasos preenchidos com 20 kg de solo, em delineamento experimental em blocos casualizados, com três repetições. Os tratamentos foram: controle (irrigação com água destilada) e quatro proporções do lixiviado (25, 50, 75 e 100 %). As coletas de solução do solo foram feitas semanalmente a partir do quarto dia após o início do alagamento (DAA) até 84 DAA. A solução do solo foi amostrada na profundidade de 10 cm e analisada para os principais nutrientes e o Na, bem como para a demanda bioquímica de oxigênio (DBO5), relação de adsorção de sódio (RAS), condutividade elétrica (CE) e potencial redox (EH). A irrigação com o lixiviado aumentou os teores de K, Ca, Mg, S, P, N-NH+4, N-NO−3 e Na, assim como os valores de RAS e CE, para valores considerados prejudiciais para as plantas. Foi observada diminuição do potencial redox na solução do solo pela irrigação com lixiviado industrial tratado. Os teores de DBO5 e o N-NH+4 diminuíram com o tempo de alagamento. Em proporções menores que 25 %, o lixiviado industrial tratado pode aumentar os teores de nutrientes em solução sem causar interferência do Na para as plantas.

Padrão de resistência de genótipos de aveia à ferrugem-da-folha na definição de hibridações

Os objetivos deste trabalho foram: determinar o padrão de resistência/suscetibilidade de 20 genótipos de aveia a 40 isolados de Puccinia coronata f. sp. avenae, coletados em três municípios do Rio Grande do Sul; o padrão de virulência/avirulência desses isolados contra os genótipos de aveia; e indicar genitores para a geração de populações com elevada resistência à ferrugem-da-folha. Os padrões de resistência de Puccinia coronata f. sp. avenae e o de virulência/avirulência dos isolados foram determinados pela avaliação da reação desencadeada pela aspersão dos isolados deste fungo em plântulas de genótipos de aveia. A seleção de genitores foi baseada no índice de complementação de cultivares, proposto neste trabalho. Os genótipos que expressaram resistência ao maior número de isolados foram FAPA6, URS20, UPFA20, CFT1 e FAPA5, ao passo que os genótipos UFRGS15, UPF15, UPF18, UPF19 e UPF16 evidenciaram suscetibilidade ao maior número de isolados. Os cruzamentos mais indicados entre os genótipos estudados são: FAPA6 x Albasul, URS22 x FAPA6, CFT1 x URPEL15 e CFT1 x UFRGS19.