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Interlinkage, Limited Liability, and Strategic Interaction
Authors: --- ---
Year: 1999 Publisher: Washington, D.C., The World Bank,

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Abstract

June 1999 - When will a landlord prefer to supply both land and credit to a tenant rather than allow the lender to borrow from a separate moneylender? The paper shows that if tenancy contracts are obtained prior to contracting with the moneylender, and the tenant has limited liability, interlinked deals will predominate over the alternative situation where the landlord and the moneylender act as noncooperative principals. Basu, Bell, and Bose analyze the example of a landlord, a moneylender, and a tenant (the landlord having access to finance on the same terms as the moneylender). It is natural to assume that the landlord has first claim on the tenant's output (as a rule, if they live in the same village, he may have some say in when the crop is harvested). The moneylender is more of an outsider, not well placed to exercise such a claim. A landless, assetless tenant will typically not get a loan unless he has a tenancy. Without interlinkage, the landlord is likely to move first. In the noncooperative sequential game where the landlord is the first mover and also enjoys seniority of claims if the tenant defaults, interlinkage is superior, even if contracts are nonlinear - a result unchanged with the incorporation of moral hazard. The main result is that if a passive principal - one whose decisions are limited to exercising his property rights to determine his share of returns - is the first mover, allocative efficiency is impaired unless his equilibrium payoffs are uniform across states of nature. The limited liability of the tenant creates the strict superiority of interlinkage by making uniform rents nonoptimal when, with noncollusive principals, the landlord (the passive principal) is the first mover. A change in seniority of claims from the first to the second mover (the moneylender) further strengthens this result. But uniform payoffs for the first mover are not essential for allocative efficiency if he is the only principal with a continuously variable instrument of control. So, the main result is sensitive to changes in the order of play but not to changes in the priority of claims. This paper - a product of the Office of the Senior Vice President and Chief Economist, Development Economics - is part of a larger effort in the Bank to understand the institutional structure of rural markets and its welfare implications. The authors may be contacted at kbasu@worldbank.org, clive.bell@urz.uni-heidelberg.de, or psbose@cc.memphis.edu.

Genetics and the extinction of species: DNA and the conservation of biodiversity
Authors: ---
ISBN: 0691009716 0691009708 069122403X 9780691009711 9780691009704 Year: 1999 Publisher: Princeton (N.J.): Princeton university press,

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Darwin's Origin of Species and Dobzhansky's Genetics and the Origin of Species have been the cornerstones of modern evolutionary and population genetic theory for the past hundred years, but in the twenty-first century, biologists will face graver problems of extinction. In this collection, a team of leading biologists demonstrates why the burgeoning field of conservation biology must continue to rely on the insights of population genetics if we are to preserve the diversity of living species. Technological and theoretical developments throughout the 1990s have allowed for important new insights into how populations have evolved in response to past selection pressures, while providing a broad new understanding of the genetic structure of natural populations. The authors explore these advances and argue for the applicability of new genetic methods in conservation biology. The volume covers such topics as the reasons for extinctions, the best ways to measure biodiversity, and the benefits and drawbacks of policies like captive breeding. Genetics and the Extinction of Species is a rich source of information for biologists and policymakers who want to learn more about the host of tools, theories, and approaches available for conserving biodiversity. In addition to the editors, the contributors to the volume are William Amos, Rebecca Cann, Kathryn Rodriguez-Clark, Leslie Douglas, Leonard Freed, Paul Harvey, Kent Holsinger, Russell Lande, and Helen Steers.

Keywords

Conservation biology --- Population genetics --- 502.7 --- 575.17 --- Genetics --- Heredity --- Ecology --- Nature conservation --- 575.17 Population genetics. Genetic processes in populations --- Population genetics. Genetic processes in populations --- 502.7 Protection of animate nature. Wildlife conservation and protection --- Protection of animate nature. Wildlife conservation and protection --- Genetica de poblacions. --- Biologia de la conservació. --- Natura --- Protecció --- Egyptian mummy. --- European badger. --- Martian meteorite. --- Neandertal. --- adaptive radiation. --- akiapolaau. --- allelic diversity. --- ancient DNA. --- assimilation. --- balancing selection. --- captive breeding. --- carrying capacity. --- cichlid fish. --- cockroaches. --- contamination. --- crested honeycreeper. --- damaged DNA. --- declining-population paradigm. --- dinosaur. --- ecomorph. --- economic factors. --- environmental policy. --- exotic species. --- extreme environments. --- fitness loss. --- fluctating selection. --- fur seal. --- gene genealogy. --- genetic diversity. --- genetic variability. --- haplotypes. --- heterozygosity. --- high-elevation habitats. --- inbreeding depression. --- introduced species. --- kinship coefficient. --- kiwis. --- leaf compressions. --- likelihood ratio test. --- maximum likelihood. --- metapopulation models. --- molecular scatology. --- neutral variation. --- papillomavirus. --- phylogenetic analysis. --- population crash. --- quantitative characters. --- racemization. --- recombination. --- restriction enzymes. --- salmon runs. --- selective sweep. --- Biologia de la conservació de recursos --- Conservació del patrimoni biològic --- Conservació de recursos biològics --- Conservació de recursos genètics --- Patrimoni biològic --- Biologia --- Conservació dels recursos naturals --- Genètica --- Poblacions animals --- Genètica de poblacions humanes --- Polimorfisme genètic

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