Coalition Theory Workshop in Barcelona

Today and tomorrow: The 16th Coalition Theory Network Workshop Barcelona, February 4-5, 2011

Matching and market design are well represented.

Friday, Feb. 4

9:30 - 10:15 In-Uck Park "Internal Hierarchy and Stable Coalition Structures" (with Massimo Morelli)

10:15 - 11:00 Messan Agbaglah "Informal insurance: an approach by overlapping coalitions as merging of networks and groups"

11:30 - 12:15 Rémy Oddou "The effect of spillovers and congestion on the segregative properties of endogenous jurisdiction structure formation"

12:15 - 13:00 Francis Bloch "Endogenous formation of alliances in conflicts"

14:30 - 15:15 Emiliya Lazarova "Dynamic Multilateral Markets" (with Arnold Polanski)

15:15 - 16:00 Guillaume Haeringer "Learning to match" (with Hanna Halaburda)

16:30 - 17:15 Lars Ehlers "Strategy-proof Tie-breaking" (with Alexander Westkamp)

17:15 - 18:00 Florian Biermann "A Measure of Instability for Matchings in Marriage Markets"

Saturday, Feb. 5

9:00 - 9:45 Kalyan Chatterjee "Word of Mouth Advertising, Credibility and Learning in Networks" (with Bhaskar Dutta)

9:45 - 10:30 Agnieszka Rusinowska "Iterating influence between players in a social network" (with Michel Grabisch)

11:00 - 11:45 Sunghoon Hong "Strategic Network Interdiction" (with Myrna Wooders)

11:45 - 12:30 Andrea Galleotti "Network Trading Games" (with Daniele Condorelli)

14:00 - 14:45 Timo Hiller "The Friend of My Enemy is My Enemy: Alliance Formation and Coercion in Networks"

14:45 - 15:30 Alexandru Nichifor "Stability and Competitive Equilibrium in Trading Networks" (with John William Hatfield, Scott Duke Kominers, Michael Ostrovsky and Alexander Westkamp)
16:00 - 16:45 Jaromir Kovarik "(Anti-) Coordination in Networks" (with Friederike Mengel and José Gabriel Romero)

16:45 - 17:30 Ana Mauleon "Myopic or Farsighted ? An Experiment on Network Formation" (with Marco Mantovani, Georg Kirchsteiger and Vincent Vannetelbosch)

Shift swapping in the Boston fire department

The Globe has an illuminating article on a system originally intended to allow Boston fire fighters to trade shifts with one another without money changing hands, that seems to have gotten out of control, possibly turning into a cash system.

Trading the call of duty for a call of convenience: A system that lets Boston firefighters swap shifts has turned into a costly free-for-all. Some barely work for years and never make up the time. The city does almost nothing about it.

"It is a familial courtesy as intrinsic to the culture of Boston firehouses as shared chicken dinners. When a firefighter can’t make his shift, a colleague steps in, on condition the favor will be returned.
"But there are scores of Boston firefighters whose shifts have been covered by others for weeks or months at a time, with no record they have ever reciprocated and worked off the debt.
"One firefighter, Gregory L. Burton, owes his firehouse comrades 554 shifts — nearly three years of work — for shifts he borrowed over five years while he was tending to a successful real estate business, according to department records.
...
"The lack of accounting — and the absence of limits that other fire departments routinely impose on shift swaps — has nurtured a subterranean culture in which some firefighters pay cash to others to work their shifts, or repay the obligation by doing outside work like home renovation projects for their firehouse creditors, according to interviews with several firefighters, who asked that they not be identified by name.
...
"One telltale sign that much of the debt has been settled privately: Fraser and Keating said not a single firefighter who is owed shifts has ever filed a complaint. Under-the-table cash payments would violate tax laws if the income is unreported.
...
"Shift-swapping is common in fire departments, but so are stringent controls on the practice, according to a Globe survey of big-city fire departments across the country. And the Boston Police Department, which permits its officers to swap shifts, turned over to the Globe records showing deficits to be virtually nonexistent."

College admissions in Texas: unintended consequences of the 10% rule

Under the headline Strategic Displacement, Inside Higher Ed covers the recent NBER paper
Jockeying for Position: Strategic High School Choice Under Texas' Top Ten Percent Plan, by  Julie Berry Cullen, Mark C. Long, and Randall Reback.

Here's the abstract of the paper:
"Beginning in 1998, all students in the state of Texas who graduated in the top ten percent of their high school classes were guaranteed admission to any in-state public higher education institution, including the flagships. While the goal of this policy is to improve college access for disadvantaged and minority students, the use of a school-specific standard to determine eligibility could have unintended consequences. Students may increase their chances of being in the top ten percent by choosing a high school with lower-achieving peers. Our analysis of students’ school transitions between 8th and 10th grade three years before and after the policy change reveals that this incentive influences enrollment choices in the anticipated direction. Among the subset of students with both motive and opportunity for strategic high school choice, as many as 25 percent enroll in a different high school to improve the chances of being in the top ten percent. Strategic students tend to choose the neighborhood high school in lieu of more competitive magnet schools and, regardless of own race, typically displace minority students from the top ten percent pool. The net effect of strategic behavior is to slightly decrease minority students’ representation in the pool."

HT: Victor Shnayder

Kidney exchange when hospitals are the players

Itai Ashlagi and I have a new paper, motivated by recent developments in kidney exchange. Now that exchange is often proceeding through multi-hospital clearinghouses, we are going to have to think about how to give hospitals the incentive to participate fully, and enroll all of their patient-donor pairs into the exchange, and not just the ones that are difficult to match.

Ashlagi, Itai and Alvin E. Roth, "Individual rationality and participation in large scale, multi-hospital kidney exchange," working paper, January 2011.


Abstract: As multi-hospital kidney exchange clearinghouses have grown, the set of players has grown from patients and surgeons to include hospitals. Hospitals have the option of enrolling only their hard-to-match patient-donor pairs, while conducting easily arranged exchanges internally. This behavior has already started to be observed.
We show that the cost of making it individually rational for hospitals to participate fully is low in almost every large exchange pool (although the worst-case cost is very high), while the cost of failing to guarantee individually rational allocations could be large, in terms of lost transplants. We also identify an incentive compatible mechanism."

Carbon markets

The U.S. Dept. of Agriculture's Economic Research Service is running a conference today and tomorrow on the design of carbon markets: Carbon Market Design: Issues and Opportunities


Monday, January 31, 2011 Morning Session

9:00 a.m. Welcome remarks Kitty Smith, USDA, Economic Research Service, Administrator

9:10 a.m. Kickoff speaker Richard Sandor, Environmental Financial Products, Chairman and CEO; Chicago Climate Exchange, Founder

9:45 a.m. Carbon Markets Marketing, Jim Kharouf, Environmental Markets Newsletter, Editor

10:15 a.m. Lessons from Existing Environmental Markets for the Design of Climate Policy, Dallas Burtraw, Resources for the Future, Senior Fellow

10:45 a.m. Morning break (coffee and snacks)

11:00 a.m. Implementation of Regional Carbon Markets in the United States Jonathan Schrag, Regional Greenhouse Gas Initiative, Inc., Executive Director

11:30 a.m. The Role of Exchanges in Global Environmental Markets: Confidence, Stability, Transparency,Tom Lewis,Green Exchange, CEO

Afternoon Session

1:15 p.m. Moderating Price Volatility, Andrew Stocking, Congressional Budget Office, Analyst and Market Design Economist

1:45 p.m. Participation in the Carbon Market Albert S. “Pete” Kyle, University of Maryland, Robert H. Smith School of Business, Charles E. Smith Chair Professor of Finance

2:15 p.m. Discussion of Moderating Price Volatility and Participation in the Carbon Market Matthew Harding, Stanford University Department of Economics

2:30 p.m. Alternatives to Quantity-based Climate Policy, Peter Cramton, University of Maryland, Professor of Economics

3:00 p.m. Discussion of Alternatives to Quantity-based Climate Policy Henrik Hasselknippe, Green Exchange

Tuesday, February 1, 2011, Morning Session

9:00 a.m. Oil Prices and the Carbon Market, Perry Sadorsky, York University, Schulich School of Business, Associate Professor of Economics

9:30 a.m. Discussion of Oil Prices and the Carbon Market Nela Richardson, Commodity Futures Trading Commission

9:45 a.m. Agricultural Carbon Credits: Lessons Learned from the AgraGate Experience, Dave Miller
Iowa Farm Bureau, Research and Commodity Services, Director

10:15 a.m. Tradeoff Between Permits and Offsets, Adele Morris, Brookings Institution, Fellow

10:45 a.m. Discussion of Agricultural Carbon Credits: Lessons Learned from the AgraGate Experience and Tradeoff Between Permits and Offsets John Horowitz, Economic Research Service

11:00 a.m. Regulatory Perspective on Carbon Markets Eric Juzenas, Commodity Futures Trading Commission, Senior Counsel to the Chairman

Fishing as an endangered but protected transaction

Here in New England, the plight of the fishing industry, and particularly of independent fishermen who operate small "day boats" from local harbors, is in the news. Three issues compete for attention: how to sustainably manage vulnerable fish populations, while keeping fishing profitable, particularly for the small independent fishermen who are seen as needing protection from larger, corporate fishing fleets.  Small fishermen are to New England what small family farms are in other areas of the country.

Here's a story from the Globe.

Change in fishing rules altering storied industry: Regulators to look at ways to protect fleet
"PLYMOUTH — Scores of fishermen have stopped going to sea in the past year as controversial new rules take hold that could fundamentally alter the storied fishing economy, culture, and communities of New England.

"The region’s scenic harbors already shelter hundreds fewer fishing boats than a decade ago, but some worry that smaller boats may vanish altogether: There are some signs the new rules, which assign groups of fishermen a quota on their catch of cod and other bottom-hugging fish, could accelerate a trend of consolidating those boats into far fewer, more efficient vessels. Some small-boat fishermen are selling or leasing their allotment to others under the new rules because they cannot turn a profit.

"“This may not be the end of fishing, but it is the end of fishing as we know it,’’ said Steve Welch, as he tinkered on one of his two boats, the Holly & Abby, in Plymouth. Nearby, his dog Hudson ate mussels that seagulls dropped on an icy dock.

Welch leased the fishing privileges on both his boats and laid off three workers this year. “We are talking jobs, tradition, culture,’’ he said. “All that will be left are large boats owned by corporations with deep pockets.’’ 

...
"However, it is inevitable, Grant said, that some fishermen will be pushed out of business for good because there are still not enough fish for all the fishermen. And that is a hard thing to take.

“Fishing is not what [these fishermen] do; it is who they are,’’ Grant said. “It helps define the community. You can’t say that about selling tires. They are a cultural icon.’’
...
"Still, there are some bright spots with the new rules. Some $5 million in federal funds has been allotted to New England states to buy fishing permits and lease them back, often at a reduced price, to vulnerable fishermen. Some fishermen say the new rules are successful, allowing them to keep catching bottom-dwelling fish while others are diversifying to go after more abundant species.

But some fishermen, like Welch, wonder whether there will be small fishermen left when the fish finally come back.

“I’ve been fishing for 33 years,’’ Welch said, proudly pointing out how he overhauled the electrical and hydraulic system on the Holly & Abby. “I’m a small, independent business owner. That should have value.’’"

HT: Tim Gray

SBE 2020: Future Research in the Social, Behavioral & Economic Sciences

The NSF has made available all 244 papers received in response to its request SBE 2020: Future Research in the Social, Behavioral & Economic Sciences


I earlier blogged about the  subset of 48 Economics "Grand Challenge" white papers posted by the American Economic Association, which includes some related to market design.

The market for used books

There have always been markets for used books, and it's one of the markets that has been most changed by the internet. I recently received an email that seems to indicate another change, this one aimed at increasing the supply of used books. The email was from Amazon.com, and the subject line referred to a book I bought a few months ago: "Sell Back "36 Arguments for the Existence of God: A Work of Fiction"

The message went on to say

Dear Amazon.com Customer, Customers who purchased textbooks from Amazon.com may be interested in an easy way to get great prices for used titles through our Textbook Buyback Store.    Visit the Textbook Buyback Store

Unraveling of pathology fellowships

A forthcoming paper in the journal Human Pathology gives a detailed account of the unraveling of the market for Pathology subspecialty fellowships, including the now familiar path towards earlier offers more diffuse in time, and to the increased hiring of internal candidates. It's an unusually thorough report that details some of the special pathologies of the Pathology labor market, and also compares it to the experience of other subspecialties such as Gastroenterology.

"Unlike the application process for first-year Pathology Residency, which is run through the National Resident MatchingProgram, applications for Subspecialty Pathology Fellowships are not coordinated by any consistent schedule. Competition for Subspecialty Pathology Fellowships has consistently resulted in undesirable drift of the fellowship application process to dates that are unacceptably early for many fellowship applicants. Responding to widespread dissatisfaction voiced by national pathology resident organizations, in 2007, the Association of Pathology Chairs began evaluation and potential intervention in the fellowship application process. Three years of intermittently intense discussion, surveys, and market analysis, have led the Council of the Association of Pathology Chairs to recommend implementation of a Pathology Subspecialty Fellowship Matching program starting in the 2011 to 2012 recruiting year, for those Applicants matriculating in fellowship programs July 2013. We report on the data that informed this decision and discuss the pros and cons that are so keenly felt by the stakeholders in this as-yet-incomplete reform process."

That's from the abstract of

"Pathology subspecialty fellowship application reform 2007 to 2010" by James M. Crawford MD, PhD,  Robert D. Hoffman MD, PhD, W. Stephen Black-Schaffer MD, in Human Pathology (2010)

Sales by museums

The NY Times reports on a Philadelphia museum's sales of parts of its collection to finance renovations, and on the controversy this has caused: Museum Sells Pieces of Its Past, Reviving a Debate

"A galloping horse weather vane sold for about $20,000, and the cigar store Indians brought in more than $1 million. A Thomas Sully oil painting of Andrew Jackson netted $80,500, and a still life by Raphaelle Peale, part of the family that put portraiture in this city on the map, was auctioned at Christie’s for $842,500.

"These were just a few of more than 2,000 items quietly sold by the Philadelphia History Museum over the last several years, all part of an effort to cull its collection of 100,000 artifacts and raise money for a $5.8 million renovation of its 1826 building.

In doing so the museum stepped into the quicksand of murky rules, guidelines and ethical strictures meant to discourage museums everywhere from selling collections to pay bills. It is one of the hottest issues in the museum world today. With budgets shrinking in a bad economy, the pressure to generate revenue is growing along with fears that museums are squandering public trusts meant to preserve the artifacts of the past for future generations.

The National Academy Museum in New York, Fisk University and Brandeis have all recently drawn fire — and even sanctions — for selling or planning to sell artworks, and none of them sold as many works as the museum here.

"In general art and objects are supposed to be sold only to finance acquisitions, though different museums are governed by different standards. Art museums, regulated by a formal code of the Association of Art Museum Directors, may not sell work for any other reason.

"As a history museum, though, this institution — formally called the Philadelphia History Museum at the Atwater Kent — is subject to separate, less stringent guidelines put forward by other associations. So museum officials say the installation of new carpet, paint and lighting were all legitimate expenses to be paid from the proceeds under the guidelines of the  American Association of Museums, which say that sales can be used for the “direct care” of a collection. Adding to the confusion, there is a third set of standards maintained by theAmerican Association for State and Local History permitting proceeds to go toward the “preservation” of a collection, a similarly broad term.

"The New York State legislature, confronting this maze of precepts, recently considered passing a law that would make selling collections — the art world term is deaccessioning — to pay operating expenses illegal. It never made it to the Assembly floor because museums opposed it."

And here's another story about a librarian who submitted her resignation over deaccessioning: Small Town, Big Word, Major Issue
"Deaccessioning is the kind of word that makes eyes glaze over and can seem to be the preserve of dusty intellectuals and large museums. But it’s just a fancy name for the sale or giving away of art and artifacts by museums and other cultural organizations, and the dust-up here in this city of about 5,000 demonstrates that such debates occur in all kinds of places, big and small, where people feel protective about materials in their care.
With her personal gesture of protest in late September, Ms. Phillips stepped into a growing public controversy surrounding institutions that have sold or considered selling parts of their collections, which have been entrusted to them for the public’s benefit. Some say such sales can compromise collections, and others argue that museums, libraries and historical societies have to cull their collections periodically, particularly if there is pressure to pay their bills.
In Little Falls, library officials said they were selling things to raise money, not to cover operating costs, which institutions try to avoid, but to preserve other artifacts.
“We don’t have the space to take care of some of these items,” said Chester P. Szymanski III, the library’s president. “We’re not a museum. We’re a library.”

Call for papers: Game Theory in Trade and Development

Avinash Dixit writes: "  I am organizing a two-day (July 19-20) workshop on applications of game theory in the fields of international trade and economic development, as a part of the  Game Theory Society's summer festival this year. I would be grateful if you would publicize the attached call for papers among your colleagues and thesis-writing graduate students."

Call for papers

Game Theory Society’s 2011 Summer Festival

Two-day workshop (Tuesday-Wednesday July 19-20) on

Applications of Game Theory in Trade and Development

               The two-day workshop will consist of four sessions. Each session will have three papers: one invited overview paper, and two contributed new research papers. The themes of the sessions, and the invited presenters of the overview papers, are as follows:

1. International negotiations on international trade and related issues

(investment, intellectual property rights, environment etc)

     Kyle Bagwell, Stanford  University

2. Foundations of constitutions and their implications for development

     Roger Myerson, University of Chicago

3. Trade and investment in developing countries and transition economies

               with poor governance

     Avinash Dixit, Princeton University

4. Design of incentives and organizations for provision of public services

               in developing countries

    Timothy Besley, London School of Economics

               Submissions for contributed papers should be sent to me as PDF files attached to e-mail messages. Complete papers are preferred but detailed abstracts are acceptable. In the e-mail message please state for which of the four sessions you are submitting your paper.  Partial travel support for authors of accepted papers is available.

             The deadline for submissions is March 15, 2011 and decisions will be conveyed by April 15.

Avinash Dixit, workshop organizer

dixitak@princeton.edu

Kidney transplantation in Canada

A new report, Treatment of End-Stage Organ Failure in Canada; 2000 to 2009 draws on data from CIHI's Canadian Organ Replacement Register (CORR). (The report can be accessed directly here.) A news report focusing on kidney transplantation is here: Kidney transplants can save millions in dialysis costs: organ transplant report.

From the news summary:
"The number of people living with kidney failure more than tripled in Canada in the last 20 years, new statistics show, but experts hope to save lives and millions of dollars in dialysis costs by expanding organ donor programs.


"A report released Thursday by the Canadian Institute for Health Information shows that at the end of 2009, there were 37,744 people being treated for end-stage renal disease, with 59 per cent of them on dialysis and 41 per cent living with a functioning kidney transplant.

"Kidney failure rates appear to be stabilizing, but the supply of organs available for transplant has not kept pace with growing demand.
About 3,000 people were on waiting lists for a transplant in 2009. If they all received a transplant, it could result in annual savings of $150 million, the institute estimated.
...
"As for transplants, Nickerson said deceased donation tends to be better than average in Quebec and Atlantic Canada, at between 16 and 19 donors per million population.


"If you look at the U.S., the average donation rate is around 26 to 28 donors per million; if you look at Spain, it's up in the 30 donors per million range," Nickerson said.
"Donation rates can be significantly higher than what they are currently in Canada. And we've been stuck at this sort of 14 to 15 national average for a number of years now."
...
"CIHI estimated the annual cost of hemodialysis treatment at $60,000 per patient, compared to a one-time cost of $23,000 for a transplant plus $6,000 per year for medication.

Nickerson said savings are about $250,000 over five years.

"Sixteen to 20 years is the average expectancy of a living donor kidney transplant," he said, adding that deceased donor transplants would probably last 10 to 12 years.
Between 2000 and 2009, there were 10,641 kidney transplant procedures registered in the Canadian Organ Replacement Registry. Of these, 11 per cent were re-transplants. Of the 9,430 kidney-only first transplants, 61 per cent used deceased donor kidneys.
Since 2006, the number of living donor kidney transplants has been stable, fluctuating between 440 and 461 transplants per year.
...
"Canadian Blood Services recently launched a paired kidney exchange registry, which allows pairs to receive and donate a kidney from among other registered pairs even if they're not matches for each other.

Nickerson said 185 pairs are registered, and 65 kidney transplants have been done that otherwise wouldn't have occurred.
"And we know that this is only the beginning," he said.

"We estimate that we should have on an annual basis another 200 to 250 pairs joining annually and that we can facilitate about half of them finding transplants on a yearly basis."

Swiss parliament proposes to decriminalize incest

Switzerland considers repealing incest laws
"The upper house of the Swiss parliament has drafted a law decriminalising sex between consenting family members which must now be considered by the government.

"There have been only three cases of incest since 1984.

"...children within families will continue to be protected by laws governing abuse and paedophilia.

"Daniel Vischer, a Green party MP, said he saw nothing wrong with two consenting adults having sex, even if they were related.
"Incest is a difficult moral question, but not one that is answered by penal law," he said.

"Barbara Schmid Federer of The Christian People's Party of Switzerland said the proposal from the upper house was "completely repugnant."
"I for one could not countenance painting out such a law from the statute books."
The Protestant People's Party is also opposed to decriminalising the offence which at present carries a maximum three year jail term.
A spokesman for the party said: "Murder is also quite rare in Switzerland but no one suggests that we remove that as an office from the statutes."

See also Wen schützt das Inzestverbot? ("Who is protected by the prohibition against incest?")

HT: Sven Seuken

My previous posts on incest as a repugnant transaction are here, including this one which concerned a similar repeal in Romania: ''Not everything that is immoral has to be illegal'
.

Sniping on eBay, in Australia (radio interview)

Apparently eBay users in Australia are concerned about sniping (last minute bidding). I was interviewed for a radio report on the subject by Hagar Cohen, which you can hear here (in Australian): Snipe bidding: the dark side of online shopping.

My papers on the subject, with Axel Ockenfels and Dan Ariely are here.

Colbert on school choice in Wake County

Stephen Colbert explains the logic behind returning to a system of local schools (video, funny).

HT: Tim Gray

Jobs in kidney exchange

Methodist Specialty and Transplant Hospital in San Antonio is advertising for a Vice President, Transplant Services

In their ad they highlight their active kidney exchange program:
"Methodist Specialty and Transplant Hospital Recognition
"•# 1 SWAP Program in the country

"•# 1 kidney exchange program and 3-way paired kidney exchange program. Most recently performed the world’s largest kidney exchange transplant chain at a single center on November 11-13, 2010 with 16 recipients and 17 Donors involved and the transplant.

"•Performed 25 heart transplants year to date with a 95% success rate and completed 13 ventricular assist devices.

"•For additional information about the transplant program visit: www.texastransplant.com “METHODIST SPECIALTY AND TRANSPLANT HOSPITAL”

Homophobia: gay sex remains a repugnant transaction for many

If a repugnant transaction is one that some people want to engage in and others don't want them to, then sex is surely the most ancient. Some of this comes from the desire to control procreation (and be able to identify the father of each child), but that doesn't account for the repugnance of homosexual sex.

Elsewhere I've posted how this ancient repugnance seems to be crumbling, as same sex marriage slowly becomes legal in more places (and as the U.S. armed services have been slowly pushed to more clearly welcome the service of gay soldiers). But two recent articles make the point that homosexual sex is still a widely repugnant transaction.

Gays in Africa face growing persecution, human rights activists say
"In Uganda, a bill introduced in parliament last year would impose the death penalty for repeated same-sex relations and life imprisonment for other homosexual acts. Local newspapers are outing gays, potentially inciting the public to attack them, activists say."

"In Uganda, we look at homosexuality as an abomination. It is not normal," said Nsaba Butoro, Uganda's minister on ethics and integrity and a vocal supporter of the bill. "You are talking about a clash of cultures. The question is: Which culture is superior, the African one or the Western one?"

"More than two-thirds of African countries have laws criminalizing homosexuality. In May, a judge in Malawi imposed a maximum prison sentence of 14 years with hard labor on a gay couple convicted of "unnatural acts" for holding an engagement ceremony. Malawi's president pardoned the couple after international condemnation, particularly from Britain, Malawi's largest donor.

"Gays have also been attacked this year in Zimbabwe, and in Senegal their graves have been desecrated. Gays in Cameroon have been attacked by police and targeted in the media. In Gambia, President Yahya Jammeh has vowed to expel gays from the country and urged citizens not to rent homes to them.

"One exception is South Africa, whose constitution was the first in the world to outlaw discrimination based on sexual orientation and is among a few countries in the world that have legalized same-sex marriages."

And here's an article closer to home: Gay Bashing at the Smithsonian, about an artwork removed from the exhibit by the National Portrait Gallery recently.

European carbon markets suspended

The suspension of trading on European carbon emissions markets has been covered fairly widely, with the most interesting (and critical) story I've seen being this one from the Telegraph. European carbon market suspended over fraud fears: "The European carbon market has been thrown into turmoil after the scandal-hit scheme was suspended for a week over suspicions of fraud."


"More than €2bn (£1.7bn) of trade is likely to be disrupted after the European Commission said it would prevent transactions until January 26.
"The suspension follows allegations that 475,000 carbon credits worth €7m were stolen in a hacking attack on the Czech carbon register. It appears that the intangible allowances were bounced between eastern European countries before disappearing without a trace."
...

"This is not the first challenge to the credibility of the €90bn annual market in carbon allowances
"Under the flagship scheme, companies need permits to emit carbon dioxide as part of the global fight against climate change and polluters are granted a certain number of emissions allowances that can be traded.
"But it has been plagued by fraud, with Europol estimating that carbon trading criminals trying to play the system may have accounted for up to 90pc of all market activity in some European countries during 2009. Fraudulent traders mainly from Britain, France, Spain, Denmark and Holland pocketed an estimated €5bn. Carbon allowances are particularly susceptible to fraud because they are high value, intangible and easily moved between different countries."

Kidney chains in India, and a millionaire nondirected donor

Kidney chains are coming to India, and one of the first (maybe the first) non-directed donors is a millionaire businessman: Kidney donation chain bank set up in Trichur

"19 January 2011 TRIVANDRUM — A leading industrialist in Kerala has set into motion a novel kidney donation chain by deciding to donate one of his kidneys to a stranger.

"Kochouseph Chittilapally, owner of V-Guard group of companies, signed the papers to donate his kidney to 48-year-old Joy from Palai on the occasion of the launch of a kidney bank at Trichur on Monday.

"The bank was set up by the Kidney Federation of India (KFI), founded by Fr Davis Chiramel, who had shown the way by donating one of his kidneys to a stranger one-and-half-years ago. The kidney chain — the first of its kind in India — is possible because of a new type of organ donation called a paired donation, in which a person who needs a kidney can get one by bringing up a donor.

"Joy became eligible to get the kidney after his wife, Jolly, agreed to donate her kidney to one Shamsuddin. His wife, Sainaba, will give her kidney to one John, and whose mother in turn will donate her kidney to Baiju.

"The chain ended here as Baiju could not get a donor among his close relatives. Fr Chiramel is not disappointed. He said he will be able to launch another chain shortly as there were people willing to donate their kidneys. “I was flooded with calls after the kidney bank was launched. Out of 150 callers I had till Tuesday afternoon, 10 were willing to donate their kidneys. We will get them medically examined and put them in the chain if they are fit to donate their kidneys,” the priest said."

Here's another story: Crorepati’s kidney in donor chain

HT: Nikhil Agarwal

Barter in a recession

In a Tight Holiday Season, Some Turn to Barter

"The proliferation of Web sites with names like Swap.com and SwapMamas have moved swaps from the home and the community center to online bazaars with millions of users. No industry figures exist on the number of for-profit startups, but officials at one of the largest, Swap.com, said they have over a million registered users and an inventory of 15 million items at any given time.

"ThredUP opened business in April as a clothing exchange site and expanded this month to toys. Mrs. Spitzer signed up as a member in August.
She said that she used to buy new clothes for her three children, all under age 7, every couple of months and then give them away as her children outgrew them. But after she joined ThredUP, she began viewing her children’s hand-me-downs as currency."

Swap.com and ThredUP charge a small fee for each trade ($1 and $5). I didn't see such a fee on SwapMamas, which also encourages people to offer their used goods as gifts when they don't find a coincidence of wants, and has a reputation system that is intended to make frequent givers also favored recipients of gifts.