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We investigate the effect of scrutiny (e.g., credit ratings, analyst reports, or mandatory disclosures) on the security design problem of a privately informed issuer. We show that scrutiny has important implications for both the form of security designed and the amount of inefficient retention of cash flows. The model predicts that issuers will design informationally sensitive securities (i.e., levered equity) when scrutiny is sufficiently intense. Otherwise, issuers opt for a standard debt contract. Scrutiny increases efficiency by decreasing issuers’ reliance on retention to signal quality and, perhaps counterintuitively, decrease price informativeness.

In development of the Bakken/Three Forks play, it is crucial to obtain a strong understanding of not just the hydraulic fracture geometry, but also what portion of those hydraulic fractures are conductive. If both parameters and their interactions are not fully understood, then development of the play could be severely compromised due to unoptimized well spacing and completion design. This study represents a two-pronged approach to better understand this interaction. The first step was to perform a Sealed Wellbore Pressure Monitoring (SWPM) test to gain an understanding of hydraulic half-length (Haustveit. et al. 2020). Then, a conductive interference test was performed to utilize Chow Pressure Group (CPG) to understand the conductive half-length (Chu et al. 2018). This paper will address the results from these two tests and how they can be coupled together to optimize the unique relationship between well spacing and completion design to maximize the value in development of the Bakken/Three Forks play or any play both new and mature. The SWPM test was successfully completed on a nine well zipper frac operation consisting of two pads (four well pad/five well pad) where four Middle Bakken and five Three Forks wells were stimulated. The SWPM results provided insight into the hydraulic fracture geometry of the stimulation in multiple scenarios of vertical and lateral separation, as well as various amounts of offsetting depletion. The next step in the analysis was performing a CPG interference test on the five well zipper pad. The CPG results provided insight into not just the initial conductive geometry, but a three month follow up test also showed how the conductivity of the fractures rapidly degrade over time. By coupling the SWPM and CPG analysis together, an operator can learn where hydraulic fractures are growing and what portion of those fractures are conductive. This project design of coupled SWPM and CPG provided multiple learnings: Hydraulic fractures for a well in either the Middle Bakken or Three Forks grow through the Lower Bakken Shale and create large geometries in both the landing and staggered zone Hydraulic growth is faster and geometry larger growing towards modern completion parents versus vintage completion parents A relatively small portion of the hydraulic geometry is conductive, and although early time wells communicate through the Lower Bakken Shale, a 3-month interference test shows closure between the Three Forks and Middle Bakken. From these learnings, an optimized development is being developed for the Bakken/Three Forks play and a similar workflow can be applied to any play both new or mature to maximize value and returns for operators.

A new form of secured lending utlitizing "digital collateral" has recently emerged,most prominently in low and middle income countries. Digital collateral relies on "lockout" technology, which allows the lender to temporarily disable the ow valueof the collateral to the borrower without physically repossessing it. We explore thisnew form of credit both in a model and in a field experiment using school-fee loansdigitally secured with a solar home system. We find that securing a loan with digitalcollateral drastically reduces default rates (by 19 pp) and increases the lender's rateof return (by 38 pp). Employing a variant of the Karlan and Zinman (2009) methodology, we decompose the total effect and find that roughly one-third is attributable to (ex-ante) adverse selection and two-thirds is attributable to (interim or ex-post) moral hazard. Access to a school-fee loan significantly increases school enrollment and school-related expenditures without detrimental effects to households' balance sheet.

AIM Evidence is increasing that individuals with autism spectrum disorder haveimpairments in their ability to integrate information across different sensory modalities.To further explore this issue, event-related potentials were used to compare auditoryand somatosensory processing as well as multisensory auditory-somatosensoryintegration for five boys ages 6 - 12 years diagnosed with autism spectrum disorder andfive typically developing age- and gender-matched controls. MATERIALS ANDMETHODS Event related potentials were recorded from thirty-two scalp electrodeswhile participants watched a silent cartoon and three types of sensory stimulation weredelivered: bilateral auditory clicks, vibro-tactile stimulation of the right palm, and bothsimultaneously. RESULTS Visual inspection of event related potential data suggeststhat both unisensory and multisensory processing may be atypical in the children withautism spectrum disorder. To index multisensory integration, responses to simultaneousmultisensory auditory-somatosensory stimulation were compared to the summedunisensory auditory and somatosensory responses across three time windows (60 – 80ms, 80 – 110 ms, and 110 – 150 ms) separately for the two groups. Statistical analysesshowed multiple time windows and electrode locations where statistically significantmultisensory integration occurred in typically developing children; however, nosignificant integration was found during any time window examined for the children withautism spectrum disorder. Additional comparison of scores on a caregiver questionnaireshowed significant differences between the groups on the auditory filtering andvisual/auditory sensitivity sections, and the total score. CONCLUSION This datasupports existing research indicating that sensory behavior and multisensory integrationare atypical in children with autism spectrum disorder.

OBJECTIVE. We developed a reliable and valid fidelity measure for use in research on Ayres Sensory Integration (ASI) intervention. METHOD. We designed a fidelity instrument to measure structural and process aspects of ASI intervention. Because scoring of process involves subjectivity, we conducted a series of reliability and validity studies on the process section. Raters were trained to score therapist strategies observed in video recordings of adult–child dyads. We examined content validity through expert ratings. RESULTS. Reliability of the process section was strong for total fidelity score (ICC = .99, Cronbach’s α = .99) and acceptable for most items. Total score significantly differentiated ASI from four alternative interventions. Expert ratings indicated strong agreement that items in the structural and process sections represent ASI intervention. CONCLUSION. The Ayres Sensory Integration Fidelity Measure has strong content validity. The process section is reliable and valid when scored by trained raters with expertise in ASI.

This study (1) explored the feasibility of using electrodermal activity (EDA) to characterize the arousal and sensory reactivity of children with high functioning autism (HFA) and Asperger's Syndrome (AS), (2) determined the reliability of electrodermal measures and (3) described the variability of EDA in this sample. Forty children with HFA and AS participated. All participants received a diagnostic psychological assessment and a physiological evaluation. Fourteen participated in the retest study on the physiological measures. Results indicated psychophysiologic testing was feasible with this sample. Seventy-three percent of the variables had reliability coefficients greater than .33, with a median variable reliability of .45. No significant differences were detected between HFA and AS groups. Visual inspection of skin conductance level (SCL) suggested two patterns: (1) high SCL (high arousal), with higher EDA magnitudes, faster latencies and slower habituation and (2) low SCL (low arousal), with lower EDA magnitudes, slower latencies and faster habituation. The presence of two EDA patterns applied equally when medications were eliminated. The previous inconsistency in studies of EDA in children with HFA and AS may be due to the presence of a high arousal groups and a low arousal group. Hence, this population should not be assumed to be homogeneous.

OBJECTIVE. We sought to assess validity of sensory integration outcomes research in relation to fidelity (faithfulness of intervention to underlying therapeutic principles). METHOD. We identified core sensory integration intervention elements through expert review and nominal group process. Elements were classified into structural (e.g., equipment used, therapist training) and therapeutic process categories. We analyzed 34 sensory integration intervention studies for consistency of intervention descriptions with these elements. RESULTS. Most studies described structural elements related to therapeutic equipment and interveners’ profession. Of the 10 process elements, only 1 (presentation of sensory opportunities) was addressed in all studies. Most studies described fewer than half of the process elements. Intervention descriptions in 35% of the studies were inconsistent with one process element, therapist–child collaboration. CONCLUSION. Validity of sensory integration outcomes studies is threatened by weak fidelity in regard to therapeutic process. Inferences regarding sensory integration effectiveness cannot be drawn with confidence until fidelity is adequately addressed in outcomes research.

High-frequency oscillatory activity (>200 Hz) termed “fast oscillations” (FO) have been recorded in the rodent somatosensory cortex and may reflect very rapid integration of vibrissal information in sensory cortex. Yet, while electrophysiological correlates suggest that FO is generated within intracortical networks, contributions of subcortical structures along the trigeminal pathway remain uncertain. Using surface and laminar electrode arrays, in vivo recordings of vibrissal and electrically evoked FO were made within somatosensory cortex of anesthetized rodents before and after ablation of the ventrobasal thalamus (VB) or during reversible cortical cooling. In VB-lesioned animals, vibrissal stimulation failed to evoke FO, while epicortical stimulation in lesioned animals remained effective in generating FO. In nonlesioned animals, cortical cooling eliminated vibrissal-evoked FO despite the persistence of thalamocortical input. Vibrissal-evoked FO returned with the return to physiological temperatures. Results from this study indicate that somatosensory cortex alone is able to initiate and sustain FO. Moreover, these data suggest that cortical network interactions are solely responsible for the generation of FO, while synchronized thalamocortical input serves as the afferent trigger.

A high incidence of sensory processing difficulties exists in children with Autism Spectrum Disorder (ASD) and children with idiopathic Sensory Modulation Disorder (SMD). This is the first study to directly compare and contrast these clinical disorders. Sympathetic nervous system markers of arousal and reactivity were utilized in a laboratory paradigm that administered a series of sensory challenges across five sensory domains. The Short Sensory Profile, a standardized parent-report measure, provided a measure of sensory-related behaviors. Physiological arousal and sensory reactivity were lower in children with ASD whereas reactivity after each sensory stimulus was higher in SMD, particularly to the first stimulus in each sensory domain. Both clinical groups had significantly more sensory-related behaviors than typically developing children, with contrasting profiles. The ASD group had more taste/smell sensitivity and sensory under-responsivity while the SMD group had more atypical sensory seeking behavior. This study provides preliminary evidence distinguishing sympathetic nervous system functions and sensory-related behaviors in Autism Spectrum Disorder and Sensory Modulation Disorder. Differentiating the physiology and sensory symptoms in clinical groups is essential to the provision of appropriate interventions.

The overall goal of this study was to determine if parasympathetic nervous system (PsNS) activity is a significant biomarker of sensory processing difficulties in children. Several studies have demonstrated that PsNS activity is an important regulator of reactivity in children, and thus, it is of interest to study whether PsNS activity is related to sensory reactivity in children who have a type of condition associated with sensory processing disorders termed sensory modulation dysfunction (SMD). If so, this will have important implications for understanding the mechanisms underlying sensory processing problems of children and for developing intervention strategies to address them. The primary aims of this project were: (1) to evaluate PsNS activity in children with SMD compared to typically developing (TYP) children, and (2) to determine if PsNS activity is a significant predictor of sensory behaviors and adaptive functions among children with SMD. We examine PsNS activity during the Sensory Challenge Protocol; which includes baseline, the administration of eight sequential stimuli in five sensory domains, recovery, and also evaluate response to a prolonged auditory stimulus. As a secondary aim we examined whether subgroups of children with specific physiological and behavioral sensory reactivity profiles can be identified. Results indicate that as a total group the children with severe SMD demonstrated a trend for low baseline PsNS activity, compared to TYP children, suggesting this may be a biomarker for SMD. In addition, children with SMD as a total group demonstrated significantly poorer adaptive behavior in the communication and daily living subdomains and in the overall Adaptive Behavior Composite of the Vineland than TYP children. Using latent class analysis, the subjects were grouped by severity and the severe SMD group had significantly lower PsNS activity at baseline, tones and prolonged auditory. These results provide preliminary evidence that children who demonstrate severe SMD may have physiological activity that is different from children without SMD, and that these physiological and behavioral manifestations of SMD may affect a child's ability to engage in everyday social, communication, and daily living skills.

Goal attainment scaling (GAS) is a methodology that shows promise for application to intervention effectiveness research and program evaluation in occupational therapy (Dreiling & Bundy, 2003; King et al., 1999; Lannin, 2003; Mitchell & Cusick, 1998). This article identifies the recent and current applications of GAS to occupational therapy for children with sensory integration dysfunction, as well as the process, usefulness, and problems of application of the GAS methodology to this population. The advantages and disadvantages of using GAS in single-site and multisite research with this population is explored, as well as the potential solutions and future programs that will strengthen the use of GAS as a measure of treatment effectiveness, both in current clinical practice and in much-needed larger, multisite research studies.

In rodents, as in other species, regions of secondary somatosensory cortex (SII) may be distinguished from primary cortex (SI) both anatomically and electrophysiologically. However, the number of rodent SII subregions, their somatotopic organization, and their function are poorly understood. The presence of multisensory responsive neurons in some areas of SII suggests that one of its roles may be in the integration of somatosensory information with information from other sensory modalities. In this study, we used auditory, somatosensory, or combined auditory/somatosensory stimuli, and high-resolution epipial-evoked potential maps of rat SII to identify the number of spatially discrete subregions, estimate their somatotopic organization, and delineate regions with multisensory response properties. Maps revealed two distinct subregions within SII, one rostral and the other caudal, which were situated lateral to the posteromedial barrel subfield. Distinct somatotopies were evident at both SII loci, and analysis of evoked responses within both areas indicated multisensory interactions. These data are consistent with the presence of classically defined rostral SII regions and provide functional evidence for a lesser known, but distinct, caudal SII area. Furthermore, evidence for multisensory interactions within SII suggests that both secondary areas may process features specifically associated with multisensory integration in parallel with unimodal processing in primary areas.

Multisensory integration is essential for the expression of complex behaviors in humans and animals. However, few studies have investigated the neural sites where multisensory integration may occur. Therefore, we used electrophysiology and retrograde labeling to study a region of the rat parietotemporal cortex that responds uniquely to auditory and somatosensory multisensory stimulation. This multisensory responsiveness suggests a functional organization resembling multisensory association cortex in cats and primates. Extracellular multielectrode surface mapping defined a region between auditory and somatosensory cortex where responses to combined auditory/somatosensory stimulation were larger in amplitude and earlier in latency than responses to either stimulus alone. Moreover, multisensory responses were nonlinear and differed from the summed unimodal responses. Intracellular recording found almost exclusively multisensory cells that responded to both unisensory and multisensory stimulation with excitatory postsynaptic potentials (EPSPs) and/or action potentials, conclusively defining a multisensory zone (MZ). In addition, intracellular responses were similar to extracellular recordings, with larger and earlier EPSPs evoked by multisensory stimulation, and interactions suggesting nonlinear postsynaptic summation to combined stimuli. Thalamic input to MZ from unimodal auditory and somatosensory thalamic relay nuclei and from multisensory thalamic regions support the idea that parallel thalamocortical projections may drive multisensory functions as strongly as corticocortical projections. Whereas the MZ integrates uni- and multisensory thalamocortical afferent streams, it may ultimately influence brainstem multisensory structures such as the superior colliculus.

The anatomical representations of the large facial whiskers, termed barrels, are topographically organized and highly segregated in the posteromedial barrel subfield (PMBSF) of rat layer IV primary somatosensory cortex. Although the functional representations of single whiskers are aligned with their appropriate barrels, their areal extents are rather large, spreading outward from the appropriate barrel along the tangential plane and thereby spanning multiple neighboring and non-neighboring barrels and septal regions. To date, single-whisker functional representations have been characterized primarily for whiskers whose corresponding barrels are located centrally within the PMBSF (central whiskers). Using intrinsic signal imaging verified with post-imaging single-unit recording, we demonstrate that border whiskers, whose barrels are located at the borders of the PMBSF, also evoke large activity areas that are similar in size to those of central whiskers but spread beyond the PMBSF and sometimes beyond primary somatosensory cortex into the neighboring dysgranular zones. This study indicates that the large functional representation of a single whisker is a basic functional feature of the rat whisker-to-barrel system and, combined with results from other studies, suggest that a large functional representation of a small, point-like area on the sensory epithelium may be a functional feature of primary sensory cortex in general.

Intrinsic signal imaging (ISI) measures changes in light reflectance from the illuminated cortex (intrinsic signals or IS) attributed to various vascular and metabolic sources that, when using illumination in the 600 nm range, appear to co-localize with neuronal activity. Given the multiple sources contributing to the collected IS, the common practice of averaging across an extended post-stimulus time epoch before dividing by baseline data typically visualizes evoked IS overlying both the cortical tissue and the large surface blood vessels. In rat PMBSF, the contribution from these vessels are problematic as they do not co-localize with known PMBSF function. Determining a means for quantifying the evoked IS area poses an additional challenge. Here, we describe how exploiting IS collected shortly after stimulus onset (within 1.5 s), which coincides with fast oxygen consumption of active neurons, visualizes evoked IS overlying the cortical tissue without the large surface vessels. We also describe how the use of absolute thresholds combined with a baseline determined from data collected immediately prior to stimulus onset (within 1 s) targets most precisely a specific evoked IS amplitude, a method that should be especially useful when evoked areas are expected to occupy a substantial portion of the total imaged area and/or when peak activity is expected to differ between subjects.