Abstract Both the Theory of Storage and the Hotelling model play a prominent role in the study of non‐renewable resource prices. This paper combines these approaches by modifying the Hotelling model to allow firms to hold inventory in addition to in‐ground reserves, contributing three new results. First, inventory is more likely to be held if future demand and/or the marginal cost of extraction are uncertain. Second, the market price of the commodity is based on the Theory of Storage when inventory is held. Third, the optimal extraction of the resource is based on the Hotelling model.
Religion has been on the rise in America for decades -- which strikes many as a shocking new development. To the contrary, Jason Stevens asserts, the rumors of the death of God were premature. Americans have always conducted their cultural life through religious symbols, never more so than during the Cold War. In God-Fearing and Free, Stevens discloses how the nation, on top of the world and torn between grandiose self-congratulation and doubt about the future, opened the way for a new master narrative. The book shows how the American public, powered by a national religious revival, was purposefully disillusioned regarding the country's mythical innocence and fortified for an epochal struggle with totalitarianism. Stevens reveals how the Augustinian doctrine of original sin was refurbished and then mobilized in a variety of cultural discourses that aimed to shore up democratic society against threats preying on the nation's internal weaknesses. Suddenly, innocence no longer meant a clear conscience. Instead it became synonymous with totalitarian ideologies of the fascist right or the communist left, whose notions of perfectability were dangerously close to millenarian ideals at the heart of American Protestant tradition. As America became riddled with self-doubt, ruminations on the meaning of power and the future of the globe during the "American Century" renewed the impetus to religion. Covering a wide selection of narrative and cultural forms, Stevens shows how writers, artists, and intellectuals, the devout as well as the nonreligious, disseminated the terms of this cultural dialogue, disputing, refining, and challenging it -- effectively making the conservative case against modernity as liberals floundered. - Publisher
"This book presents research related to the application of semantic Web technologies, including semantic service-oriented architecture, semantic content management, and semantic knowledge sharing in e-business processes. It compiles research from experts around the globe to bring to the forefront the many issues surrounding the application of semantic Web technologies in e-business"--Provided by publisher
We present the temperature and polarization angular power spectra of the CMB measured by the Atacama Cosmology Telescope (ACT) from 5400 deg(2) of the 2013-2016 survey, which covers >15000 deg(2) at 98 and 150 GHz. For this analysis we adopt a blinding strategy to help avoid confirmation bias and, related to this, show numerous checks for systematic error done before unblinding. Using the likelihood for the cosmological analysis we constrain secondary sources of anisotropy and foreground emission, and derive a "CMB-only" spectrum that extends to l = 4000. At large angular scales, foreground emission at 150 GHz is similar to 1% of TT and EE within our selected regions and consistent with that found by Planck. Using the same likelihood, we obtain the cosmological parameters for Lambda CDM for the ACT data alone with a prior on the optical depth of tau = 0.065 +/- 0.015. Lambda CDM is a good fit. The best-fit model has a reduced chi(2) of 1.07 (PTE = 0.07) with H-0 = 67.9 +/- 1.5 km/s/Mpc. We show that the lensing BB signal is consistent with Lambda CDM and limit the celestial EB polarization angle to psi(P) = 0.07 degrees +/- 0.09 degrees. We directly cross correlate ACT with Planck and observe generally good agreement but with some discrepancies in TE. All data on which this analysis is based will be publicly released. ; National Science Foundation (NSF) AST0408698 AST-0965625 AST-1440226 PHY0355328 PHY-0855887 PHY-1214379 Princeton University University of Pennsylvania Canada Foundation for Innovation CFI under the Compute Canada Government of Ontario Ontario Research Fund \ Research Excellence University of Toronto Simons Foundation National Aeronautics & Space Administration (NASA) NNX13AE56G NNX14AB58G National Institute of Standards & Technology (NIST) - USA Cornell Presidential Postdoctoral Fellowship Comision Nacional de Investigacion Cientifica y Tecnologica (CONICYT) BASAL CATA AFB-170002 National Science Foundation (NSF) AST-1814971 AST1454881 AST-1513618 AST-1907657 AST-1910021 National Research Foundation - South Africa STFC Ernest Rutherford Fellowship ST/M004856/2 STFC Consolidated Grant ST/S00033X/1 Horizon 2020 ERC Starting Grant 849169 Dicke Fellowship Mishrahi and Wilkinson funds CIfAR's Gravity & the Extreme Universe Program CGIAR Dunlap Institute