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result(s) for
"subsistence floor"
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Optimal Consumption and Investment with Consumption Comfort Zones
2026
We study an infinite-horizon consumption–investment problem in which an investor endogenously manages a consumption comfort zone above a fixed subsistence benchmark. Consumption can move freely within the prevailing admissible interval, while upward expansions of the upper endpoint are irreversible and costly. This captures downward rigidity not through a single ratcheting reference level but through the endogenous management of a sustainable expenditure range. Using the dual martingale method together with singular stochastic control, we reduce the problem to a one-sided singular control problem for the comfort-zone width process. The associated dual Hamilton–Jacobi–Bellman equation becomes a gradient-constrained free-boundary problem, which admits a one-dimensional reduction under CRRA utility. We characterize the optimal comfort-zone expansion rule, consumption policy, risky portfolio rule, and value function. Economically, the model implies infrequent upward revisions of the sustainable consumption ceiling, smoother consumption than in the frictionless Merton benchmark, and state-dependent portfolio behavior. A key implication of the additive specification is that proportional consumption flexibility shrinks as the upper endpoint rises, so higher consumption states become endogenously tighter and require a larger wealth buffer to sustain. The infinite-horizon formulation is interpreted as a stationary benchmark that isolates the economics of costly lifestyle upgrading.
Journal Article
Rapid metabolism fosters microbial survival in the deep, hot subseafloor biosphere
by
Homola, K. L.
,
Glombitza, C.
,
Spivack, A. J.
in
631/326/47/4113
,
704/47/4113
,
Bacteria - growth & development
2022
A fourth of the global seabed sediment volume is buried at depths where temperatures exceed 80 °C, a previously proposed thermal barrier for life in the subsurface. Here, we demonstrate, utilizing an extensive suite of radiotracer experiments, the prevalence of active methanogenic and sulfate-reducing populations in deeply buried marine sediment from the Nankai Trough subduction zone, heated to extreme temperature (up to ~120 °C). The small microbial community subsisted with high potential cell-specific rates of energy metabolism, which approach the rates of active surface sediments and laboratory cultures. Our discovery is in stark contrast to the extremely low metabolic rates otherwise observed in the deep subseafloor. As cells appear to invest most of their energy to repair thermal cell damage in the hot sediment, they are forced to balance delicately between subsistence near the upper temperature limit for life and a rich supply of substrates and energy from thermally driven reactions of the sedimentary organic matter.
In the deep sedimentary biosphere, 80 °C has been proposed as an upper thermal barrier for life. Using a suite of radiotracer experiments, this study reports active methanogenic and sulfate-reducing microbial populations with high cell-specific metabolic rates in deeply buried marine sediments from the Nankai Trough subduction zone, which reach temperatures up to 120 °C.
Journal Article
Oceanographic, ecological, and socio-economic impacts of an unusual summer storm in the Mackenzie Estuary
by
Whalen, Dustin
,
Davoren, Gail
,
Scharffenberg, Kevin C.
in
acoustic monitoring
,
Acoustics
,
Aggregation
2020
With increased warming and open water due to climate change, the frequency and intensity of storm surges is expected to increase. Although studies have shown that strong storms can negatively impact Arctic ecosystems, the impact of storms on Arctic marine mammals is relatively unknown. In July 2016, an unusually large storm occurred in the Mackenzie Delta while instrumented seabed moorings equipped with hydrophones and oceanographic sensors were in place to study environmental drivers of beluga habitat use during their summer aggregation. The storm lasted up to 88 h, with maximum wind speeds reaching 60 km/h; historical wind data from Tuktoyaktuk revealed a storm of similar duration has not occurred in July in at least the past 28 years. This provided a unique opportunity to study the impacts of large storms on oceanographic conditions, beluga habitat use, and the traditional subsistence hunt that occurs annually in the delta. The storm resulted in increased water levels and localized flooding as well as a significant drop in water temperature (∼10 °C) and caused belugas to leave the area for 5 days. Although belugas returned after the storm ended, the subsistence hunt was halted resulting in the lowest beluga harvest between 1978 and 2017.
Journal Article
A TYPOLOGY FOR BALLOON FRAME FARMHOUSES IN THE UPPER MIDWEST
Balloon frame farmhouses built in the Upper Midwest are of a bewildering variety. It appears as if each builder exploited the system’s potential for creating a structure that was unique. Despite this great variety, it is possible to sort these farmhouses into discernible groups or types.
Two fundamental qualities of architecture are used to type farmhouses in this study—the basic shape of a structure and its floor plan.¹ Shapes of balloon frame farmhouses are rectangular or square or combinations of these as realized by the way in which the walls and roof of the structure form exterior volume as
Book Chapter