scholarly journals Estimated Profitability of Thoroughbred Yearlings Sold in Auctions in the United States, 2001–2018

2020 ◽  
Vol 12 (2) ◽  
pp. 463
Author(s):  
Jenna Bryant ◽  
C. Jill Stowe

Yearling auctions constitute the most common means of trading prospective Thoroughbred racehorses. The main objective of many equine operations is to breed yearlings to sell at these auctions, and therefore, the ability of breeders to consistently realize positive returns is paramount to their long-term participation in the market. In this article, we investigate the estimated profitability of Thoroughbred yearlings sold in auctions from 2001–2018. According to our estimates, less than 50% of transactions were profitable, with negative median profit in all years under analysis but two. In addition, the likelihood of realizing a positive return diminishes as the quality of sire decreases. Our results suggest that the long-run sustainability for many breeders, especially breeders that may lack the capital to invest in high quality stallions, is questionable.

Author(s):  
Sebastian Jugl ◽  
Aimalohi Okpeku ◽  
Brianna Costales ◽  
Earl Morris ◽  
Golnoosh Alipour-Harris ◽  
...  

Background: Medical cannabis is available to patients by physician order in two-thirds of the United States (U.S.) as of 2020, but remains classified as an illicit substance by federal law. States that permit medical cannabis ordered by a physician typically require a diagnosed medical condition that is considered qualifying by respective state law. Objectives: To identify and map the most recently (2016-2019) published clinical and scientific literature across approved conditions for medical cannabis, and to evaluate the quality of identified recent systematic reviews. Methods: Literature search was conducted from five databases (PubMed, Embase, Web of Science, Cochrane, and ClinicalTrials.gov), with expansion and update from the National Academies of Sciences, Engineering, and Medicine’s (NASEM) comprehensive evidence review through 2016 of the health effects of cannabis on several conditions. Following consultation with experts and stakeholders, 11 conditions were identified for evidence evaluation: amyotrophic lateral sclerosis (ALS), autism, cancer, chronic pain, Crohn’s disease, epilepsy, glaucoma, HIV/AIDS, multiple sclerosis (MS), Parkinson’s disease, and posttraumatic stress disorder (PTSD). The following exclusion criteria were imposed: preclinical focus, non-English language, abstracts only, editorials/commentary, case studies/series, and non-U.S. study setting. Data extracted from studies included: study design type, outcome, intervention, sample size, study setting, and reported effect size. Studies classified as systematic reviews with or without meta-analysis were graded using the AMSTAR-2 tool by two raters to evaluate the quality of evidence, with additional raters to resolve cases of evidence grade disagreement. Results: A total of 438 studies were included after screening. Five completed randomized controlled trials (RCTs) were identified, and an additional 11 trials were ongoing, and 1 terminated. Cancer, chronic pain, and epilepsy were the most researched topic areas, representing more than two-thirds of all reviewed studies. The quality of evidence assessment for each condition suggests that few high-quality systematic reviews are available for most conditions, with the exceptions of MS, epilepsy, and chronic pain. In those areas, findings on chronic pain are mostly in alignment with the previous literature, suggesting that cannabis or cannabinoids are potentially beneficial in treating chronic neuropathic pain. In epilepsy, findings suggest that cannabidiol is potentially effective in reducing seizures in pediatric patients with drug-resistant Dravet and Lennox-Gastaut syndromes. In MS, recent high-quality systematic reviews did not include new RCTs, and are therefore not substantially expanding the evidence base. In sum, the most recent clinical evidence suggests that for most of the conditions assessed, we identified few studies of substantial rigor and quality to contribute to the evidence base. However, there are some conditions for which significant evidence suggests that select dosage forms and routes of administration likely have favorable risk-benefit ratios (i.e., epilepsy and chronic pain), with the higher quality of evidence for epilepsy driven by FDA-approved formulations for cannabis-based seizure treatments. Conclusion: The body of evidence for medical cannabis requires more rigorous evaluation before consideration as a treatment option for many conditions and evidence necessary to inform policy and treatment guidelines is currently insufficient for many conditions.


Author(s):  
Abigail A. Fagan ◽  
J. David Hawkins ◽  
Richard F. Catalano ◽  
David P. Farrington

This chapter reviews the importance of delivering community-based systems and EBIs with fidelity (i.e., in accordance with their implementation requirements) and sustaining these interventions over time. The chapter describes the training and technical support provided in CTC to ensure that coalitions take necessary actions to maintain their functioning in the long term and deliver EBIs in adherence to their core components and to their intended recipients. It is especially important that coalitions collect data on coalition functioning and EBI delivery and use these data when problems are identified. Examples of how CTC coalitions in the United States and other countries have engaged in these efforts are highlighted.


Author(s):  
Donald Worster

When we drive by a modern farm, we still expect to see green plants sprouting from the earth, bearing the promise of food or cooking oil or a cotton shirt. Pulling up one of those plants, we are still prepared to find dirt clinging to its roots. Even in this age of high-tech euphoria, agriculture remains essentially a matter of plants growing in the soil. But another element besides soil has always been a part of the farmer’s life-water. Farming is not only growing crops on a piece of land, it is also growing crops in water. I don’t mean a hydroponics lab. I mean that the farmer and his plants inescapably are participants in the natural cycle of water on this planet. Water is a more volatile, uncertain element than soil in the agricultural equation. Soil naturally stays there on the farm, unless poor management intervenes, whereas water is by nature forever on the move, falling from the clouds, soaking down to roots, running off in streams to the sea. We must farm rivers and the flow of water as well as fields and pastures if we are to continue to thrive. But it has never been easy to extract a living from something so mobile and elusive, so relentless and yet so vulnerable as water. If there is to be a long-term, sustainable agriculture in the United States or elsewhere, farmers must think and act in accord with the flow of water over, under, through, and beyond their farms. Preserving the fertility of the soil resource is critical to sustaining it, of course, but not more so than maintaining the quality of water. In many ways, the two ideals are one. And their failure is one, as when rain erodes the topsoil and creeks and rivers suffer. But there are differences between those two resources, differences we must understand and respect. Unlike soil, water cannot be “built.” It can be lost to the farmer, or it can be diverted, polluted, misused, or over-appropriated, but it can never be deepened or enhanced as soil can be.


2020 ◽  
Vol 142 (07) ◽  
pp. 34-39
Author(s):  
Winters Jeffrey

Abstract Superstar Cities are known for their technology startups, but innovative companies are popping up all over the United States. To show the diversity of innovation outside the so-called innovation hubs, this article spotlights 10 startups or young companies developing products in a variety of engineering fields. Some of these companies are located in small towns, others in large cities not necessarily known for their entrepreneurship. Some are tapping into local universities or resources; almost all are in cities that can offer a high quality of life at an affordable cost.


2019 ◽  
Vol 2(13)/2019 (2(13)/2019) ◽  
pp. 37-44
Author(s):  
Adam KUŹ

The purpose of the paper is to answer the question: what is the main reason why the Central and Eastern Europe countries did not enter into fruitful and long-term cooperation both in the interwar period and after the collapse of the Soviet Union despite a far-reaching commonality of interests? Conflicts between these countries are not decisive factors in their lack of integration. The degree of integration is proportional to the degree of involvement in Central and Eastern Europe of powers that could act as an external hegemony. In the interwar period, the United States, England and France, and after 1989, the United States had the right potential to undertake such a task in its interest. None of them, however, took up such a role in the long run. Attempts to integrate the countries of Central and Eastern Europe to date, starting from the Versailles conference, indicate that the American protectorate is a necessary factor for implementing closer forms of cooperation between these countries.


Stroke ◽  
2020 ◽  
Vol 51 (3) ◽  
pp. 899-907 ◽  
Author(s):  
Wolfgang G. Kunz ◽  
Mohammed A. Almekhlafi ◽  
Bijoy K. Menon ◽  
Jeffrey L. Saver ◽  
Myriam G. Hunink ◽  
...  

Background and Purpose— The benefit that endovascular thrombectomy offers to patients with stroke with large vessel occlusions depends strongly on reperfusion grade as defined by the expanded Thrombolysis in Cerebral Infarction (eTICI) scale. Our aim was to determine the lifetime health and cost consequences of the quality of reperfusion for patients, healthcare systems, and society. Methods— A Markov model estimated lifetime quality-adjusted life years (QALY) and lifetime costs of endovascular thrombectomy–treated patients with stroke based on eTICI grades. The analysis was performed over a lifetime horizon in a United States setting, adopting healthcare and societal perspectives. The reference case analysis was conducted for stroke at 65 years of age. National health and cost consequences of improved eTICI 2c/3 reperfusion rates were estimated. Input parameters were based on best available evidence. Results— Lifetime QALYs increased for every grade of improved reperfusion (median QALYs for eTICI 0/1: 2.62; eTICI 2a: 3.46; eTICI 2b: 5.42; eTICI 2c: 5.99; eTICI 3: 6.73). Achieving eTICI 3 over eTICI 2b reperfusion resulted on average in 1.31 incremental QALYs as well as healthcare and societal cost savings of $10 327 and $20 224 per patient. A 10% increase in the eTICI 2c/3 reperfusion rate of all annually endovascular thrombectomy–treated patients with stroke in the United States is estimated to yield additional 3656 QALYs and save $21.0 million and $36.8 million for the healthcare system and society, respectively. Conclusions— Improved reperfusion grants patients with stroke additional QALYs and leads to long-term cost savings. Procedural strategies to achieve complete reperfusion should be assessed for safety and feasibility, even when initial reperfusion seems to be adequate.


2019 ◽  
Vol 109 (1) ◽  
pp. 121-152 ◽  
Author(s):  
Michela Giorcelli

This paper examines the long-run causal effects of management on firm performance. Under the United States Technical Assistance and Productivity Program (1952–1958), the United States organized management training trips for Italian managers to US firms and granted technologically advanced machines to Italian companies. I exploit an unexpected budget cut that reduced the number of participating firms and find that, compared to businesses excluded by the budget cut: performance of Italian firms that sent their managers to the United States increased for at least fifteen years after the program; performance of companies that received new machines increased, but flattened out over time; management and new machines were complementary. (JEL F23, L25, M16, M54, N34, N64, O33)


Author(s):  
Junwook Chi ◽  
Jungho Baek

The rising government funding in transport infrastructure has sparked political and academic debates on the economic impacts of transport infrastructure investment in the United States. Although numerous empirical studies have examined the transport infrastructure-growth nexus, existing literature has mixed conclusions of the economic effects of expanding transport infrastructure. The main objective of this paper is to assess the short- and long-run impacts of transport and non-transport public infrastructure on economic growth to provide an implication of the effectiveness of these fiscal policy tools in the short- and long-term. For this purpose, we employ a modern autoregressive distributed lag (ARDL) approach to explore the dynamic relationships among transport infrastructure, non-transport public infrastructure, private capital, labor hours, GDP, and exports. In the long run, we find that a bidirectional relationship exists between transport infrastructure and GDP, suggesting that expanding transport infrastructure improves aggregated economic output, and enhanced economic output increases public investment in transport infrastructure. However, the magnitude of the impact of transport infrastructure on GDP is smaller than that of non-transport public infrastructure, implying that non-transport infrastructure investment is a more effective long-term fiscal stimulus than expanding transport infrastructure.


Author(s):  
Jason C. Y. Wong

This paper uses applied microeconomics techniques to investigate the impact of aviation connectivity on 548 regional economies in the United States. Using lagged socioeconomic variables to instrument for future aviation connectivity, the paper finds a significant impact of connectivity on long-run economic growth. An increase of 100 in the city’s Global Connectivity Index is associated with an increase in long-term total personal income of the city by up to $254,350,000, and up to 613 more jobs. For a city like Myrtle Beach, SC, with a connectivity index close to the mean connectivity levels of core-based statistical areas, a 100-point increase in the index represents a 1.03% increase in air connectivity. The paper also finds evidence suggesting that the impact of connectivity on regional economies is significantly more pronounced in the largest 100 cities, whereas these effects vanish in smaller cities.


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