Optimal stabilization of the copper market: The problem of information

This paper investigates the scope for stabilizing commodity prices by buffer stock interventions. Optimal control is used, rather than simulation, to evaluate the scope for intervention at best. Applications to a world copper market model show that substantial but extensive gains to stabilization are possible. These gains cannot be realised by traditional bandwidth decision rules. An important difficulty is setting the level at which prices should be stabilized. The lack of this information severely reduces the achievable gains.     

Aerobic ethanol production by leaves: Evidence for air pollution stress in trees of the Ohio River Valley, USA

We measured the frequency with which leaves of trees in the Ohio River Valley produced ethanol aerobically, to determine if aerobic ethanol production might provide a viable field assay for air pollution stress. Leaves were collected from trees during the summers of 1985 and 1986 and ethanol production was determined using headspace GC. Frequency of ethanol production was compared with environmental factors, including air pollution concentrations. We found frequent foliar ethanol production and elevated alcohol dehydrogenase activity in the leaves of several species of trees in the Ohio River Valley, USA. The ethanol concentrations measured were often equivalent to those produced by anaerobic leaves. Ethanol production was associated with hot, hazy weather and elevated NO(2) concentrations. Ethanol production was more frequent in urban and industrialized areas. Ethanol production was not associated with natural stresses such as flooding and herbivory. We propose that aerobic ethanol production is the result of cell acidification due to the accumulation of acidic gases in the cytoplasm. The use of ethanol production as a diagnostic tool for detecting stress imposed by acidic gases is discussed.     

Book reviews

URBANIZATION AND COMMUNITY BUILDING IN MODERN NORWAY

J. S. Tortenson, M. F. Metcalfe, T. F. Rasmussen

Urbana Press, Oslo 1985. 312 pp., figs and tables.

REGIONAL DEVELOPMENT POLICY

R. Riddell

Gower, 1985. £18.50

REVIEW OF SERVICE INDUSTRIES: A GEOGRAPHICAL APPRAISAL

P. W. Daniels

Methuen, 1985. £27.50.

ARABIC‐ISLAMIC CITIES: BUILDING AND PLANNING PRINCIPLES

Besim Selim Hakim

KPI Ltd., London, 1986. pp. 192. £46 (h/b)

FIFTY YEARS OF LANDSCAPE DESIGN

Sheila Harvey and Stephen Rettig

The Landscape Press, 1985. £12.50

CAPABILITY BROWN AND THE EIGHTEENTH CENTURY ENGLISH LANDSCAPE

Roger Turner

Weidenfeld & Nicholson. £16.95.