ALBERT

Notes: Many long-term contracts incorporate a termination clause. This paper argues that when agents have hidden information, such a clause has a beneficial incentive effect—it enables a principal to screen agents' private information at a lower cost. In a two-period model, this paper characterizes the optimal long-term contract with a termination clause, which specifies that the principal will switch agents in the second period when the first-period cost is high. The analysis delineates how the optimality of this clause depends on the intertemporal cost correlation structure, on the limits to agents' liability, and on the principal's degree of commitment.

Notes: Takeovers give raiders the opportunity of breaking implicit contracts inside the firm. If implicit contracts are adopted by workers and management to reach more efficient outcomes, then the possibility of takeovers may cause a welfare loss. We show that, under some conditions, this argument can go through even if the firm and the workers can write explicit and complete contracts. The crucial assumption is that the profitability of the firm is linked to its financial situation, in the sense that a firm which has a high probability of bankruptcy will face fewer opportunities than a financially solid firm. In this framework, the possibility of takeovers imposes constraints on the set of feasible employment contracts, leading to inefficient outcomes.

Notes: This paper deals with the strategic role of the temporal dimension of contracts in a duopoly market. Is it better for a firm to sign long-term incentive contracts with managers or short-term contracts? For the linear case, with strategic substitutes (complements) in the product market, the incentive variables are also strategic substitutes (complements). It is shown that a long-term contract makes a firm a leader in incentives, while a short-term contract makes it a follower. We find that, under Bertrand competition, in equilibrium one firm signs a long-term contract and the other firm short-term incentive contracts; however, under Cournot competition, the dominant strategy is to sign long-term incentive contracts.

Notes: Why is it so common for the seller to provide guarantees that say “Satisfaction guaranteed or your money back” along with the sale of a product? Newly introduced goods and mail-ordered products are usually sold with such guarantees. In honoring money-back guarantees, why is it a common business practice to pay back exactly the purchase price rather than a portion of it? In this paper we study the informational role and optimality of the common business practice of money-back guarantees in a signaling model with quality uncertainty and risk-neutral buyers. We find that money-back guarantees and price together completely reveal a monopoly firm's private information about product quality, Moreover, the private information is revealed at no signaling cost. Furthermore, we show that in terms of the level of monetary compensation specified by a guarantee, price is the profit-maximizing level of monetary payback in case of product failure.

Notes: Manufacturers may intentionally damage a portion of their goods in order to price discriminate. Many instances of this phenomenon are observed. It may result in a Pareto improvement.

Notes: It is generally believed that industries with greater product differentiation have higher rates of return. This paper shows that this effect breaks down in the presence of firm-specific cost shocks. Greater substitutability in products generates two opposing effects: (1) it allows a larger increase in demand when a firm has a favorable cost shock, which more than compensates for the reduction in demand when it has an unfavorable cost shock, and (2) it results in more intense price competition. These two countervailing forces result in industry profit being highest in markets with a moderate degree of product differentiation.

Notes: We present a model of industry evolution where the dynamics are driven by a process of endogenous innovations followed by subsequent embodiments in physical capital. Traditionally, the only distinction between R&D and physical investment was one of labeling: the first process accumulates an intangible stock, knowledge, while the second accumulates physical capital. Both stocks affect output in a symmetric fashion. We argue that the story is not that simple, and that there is more to it than differences in the object of accumulation. Our model stresses the causal relationship between past R&D expenditures and current investments in machinery and equipment. This causality pattern, which is supported by the data, also explains the observed higher volatility of physical investment relative to that of R&D expenditures.

Notes: We examine the question of whether a regulated firm that makes a long-term investment in infrastructure can credibly signal its private information regarding the future demand for its output to the capital market. We show that necessary conditions for a separating equilibrium in which the magnitude of investment signals high future demand may include a low degree of managerial myopia, large variability of future demand, a lenient regulatory climate, and low sunk cost. Our model suggests that in estimating valuation models of regulated firms it is important to separate firms into two groups: firms for which a separating equilibrium is likely to obtain and firms for which the equilibrium is likely to be pooling. The market value of a firm in the first group is positively correlated with its level of investment, but uncorrelated with the level of actual demand, whereas for the second group the opposite holds.

Notes: This paper develops the hypothesis that firms possess a stock of well-established brands, a stock termed brand capital. The firm with the greatest capital is able to introduce new products in response to new information about consumer tastes before rivals. The results using data from the ready-to-eat cereal industry not only support this hypothesis, but also distinguish brand capital from other sources of firm heterogeneity.

Notes: This paper attacks the problem of developing strategies for a firm to deal with technological change. We show that the product market strategies of the firm—including pricing, product positioning, and rent preemption strategies—can play a role in the efficient search for technology-related information when information search is costly and there are adaptation costs due to the presence of agency. We utilize a dynamic model of spatial competition with uncertain technological innovations in which firms can learn from each other about technological developments. Private information and agency conflicts are shown to increase the effective information search costs of incumbents, who then use interfirm learning to their advantage in equilibrium. This viewpoint also allows us to see the role of mergers and acquisitions, subsidiary formation, and internal R&D labs in a new light. The more general point is that organizational structures and, in particular, the differential distribution of information within the organization impose constraints on the information-search and adaptation strategies of the firm, and the formulation of product-market and R&D strategies serves to relax these constraints.

Notes: The paper studies managerial incentives in a model where managers choose product market strategies and make takeover decisions. The equilibrium contract includes an incentive to increase the firm's sales, under either quantity or price Competition. This result contrasts with previous findings in the literature, and hinges on the fact that when managers are more aggressive, rival firms earn lower profits and thus are willing to sell out at a lower price. However, as a side effect of such a contract, the manager might undertake unprofitable takeovers.

Notes: For U.S. futures exchanges, controlling costs while maintaining market performance is an ongoing, difficult challenge. New market realities have made that challenge even more daunting in recent years as costs have escalated, competition has expanded, and the role of information technology has expanded. It is always difficult for regulatory statutes to keep pace with ever-changing markets. Futures markets are no exception. The basic statutory framework represented by the Commodity Exchange Act (CEA) was enacted in 1922, over seventy years ago. In order to maintain appropriate regulatory balance, periodic review and reform has been essential over the years. Our current federal regulatory systems were built for different markets with different competitive realities than we face today. Reforming the CEA to take into account those new market realities is vital to the survival of U.S. futures exchanges.

Notes: We develop a game-theoretic version of the right-to-manage model of firm-level bargaining where strategic interactions among firms are explicitly recognized. Our main aim is to investigate how equilibrium wages and employment react to changes in various labor and product market variables. We show that our comparative statics results hinge crucially on the strategic nature of the game, which in turn is determined by the relative bargaining power of unions and managers.

Notes: We develop a simple model in which there is both interfirm (or intraproduct) and intrafirm (or interproduct) competition. The purpose is to develop a classificatoy framework in order to understand product-range or diversification decisions alongside conventional competition. The equilibrium outcomes commonly involve a limited range of the available goods being produced. Deterrence equilibria and other strategic actions are also examined.

Notes: DeGraba and Postlewaite (1992) show that the seller of a durable input can solve the time inconsistency problem by offering most-favored-customer (MFC) protection to buyers. McAfee and Schwartz (1994) show that if a supplier sells inputs to competing firms using two-part tariffs, MFC protection that allows a firm to replace its contract with a contract executed by any other firm will not solve the commitment problem, and argue this implies managers cannot use MFCs as a strategic commitment device in complex contracting situations. This paper shows that if the profits of the seller and the buyers are monotonic in each term of the contract, then applying MFC protection to each term of a contract allows a manager to solve his commitment problem in complex contacting situations. We show that “standard” contract arrangements (two-part tariffs, declining block tariffs, and royalties as a percentage of sales) meet this condition.

Notes: This paper develops a theory of capital structure based on the attempts of a firm to alleviate a holdup problem that arises in its bilateral relationship with a buyer. It is shown that by issuing debt to outsiders, the firm can improve its ex post bargaining position vis-a-vis the buyer and capture a larger share of the ex post gains from trade. Debt, however, is costly because the buyer may find the required price too high and refuse to trade. Since debt raises the payoff of claimholders, it strengthens the firm's incentive to make relationship-specific investments, and therefore alleviates the well-known underinvestment problem. A comparative static analysis yields a number of testable hypotheses regarding the firm's financial strategy.

Notes: Whether vertical integration between a downstream oligopolist and an upstream oligopolist is profitable for an integrated pair of firms is shown to depend on whether one means by this that profits increase no matter what other firms do, that all integrated firms are better off when all firms are integrated than when none are, or simply that no downstream-upstream pair of firms has an incentive to deviate from a situation where all firms are integrated. It is also shown to depend on the number of firms in each oligopoly and on the type of interaction that is assumed between firms that are integrated and firms that are not. In particular, it is shown that if no restriction is put on trade between integrated and nonintegrated firms, integrated firms may continue to purchase inputs from the nonintegrated upstream firms, with the goal of raising their downstream rivals' costs. Furthermore, even though firms are identical, asymmetric equilibria, where integrated and nonintegrated firms coexist, may actually arise as an outcome of the integration game.

Notes: This paper considers the incentives of a firm with power in a market for one good to tie in the sale of a complementary good even though the complementary good is produced in a zero profit market. If the zero-profit price of the tied good is greater than the marginal cost (which occurs for example when the technology is characterized by a fixed cost and a constant marginal cost), a firm will fie in order to increase the sales of the complementary good, which at the margin is profitable. We show that such tying will lower the effective prices paid by customers and increase welfare. This incentive exists if the firm with market power is a monopolist or one of several competing oligopolists.

Notes: This paper examines the effect of a middleman on the search and trading behavior of the traders. It is shown that the buyer and seller types with middle valuations choose to search for each other, while the buyer and seller types with high or low valuations drop out of the search market and choose to trade directly with the middleman. The ask and bid prices of the middleman act as an outside option for the buyer and seller, and influence the outcome of the bargaining between the two. The model generalizes Gehrig (1993) by endogenizing the traders' search intensities, by allowing the traders to go to an intermediary even if thy have engaged in search, and by enabling the intermediary to provide the service of immediacy.

Notes: This paper discusses the supplier power of medical specialists. We argue that a combination of factors, including the structure of health care delivery, reimbursement systems, the presence of option demand, and high consumer switching costs, create circumstances in which medical specialists may be able to exercise significant seller power. We explore the implications of this for the pricing and organization of medical care.

Notes: This paper offers an exact definition of the value created by firms together with their suppliers and buyers. The “added value” of a firm is similarly defined, and shown under certain conditions to impose an upper bound on how much value the firm can capture. The key to a firm's achieving a positive added value is the existence of asymmetries between the firm and other firms. The paper identifies four routes (“value-based” strategies) that lead to the creation of such asymmetries. Our analysis reveals the equal importance of a firm's supplier and buyer relations. Cooperative game theory provides the underpinnings of the analysis.

Notes: The recent emergence of total quality management (TQM) in the U.S. has spawned a great deal of interest in management circles as well as in the mass media. However, despite the growing number of firms that have adopted this management technique, few formal tests exist concerning the pattern of adoption as well as the changes that accompany the adoption of TQM. This paper contrasts models of production for TQM and non-TQM firms in order to explore reasons why some firms but not others have adopted the TQM approach to quality improvement. Predictions arising from such a comparison are tested using a unique data set that combines data on firms from three different sources. Our findings tend to support the proposed theory of systematic differences between firms that find it advantageous to adopt TQM and firms that do not. We also find evidence that firms adopting TQM experience greater growth in sales, employment, and capital stock.

Notes: Duopolistic interaction between a small firm and a large established firm is considered and compared to guerrilla warfare, The paper investigates a “hit and run” equilibrium in which the small firm enters the market, stays there for several periods, exits, stays out for several periods, and then reenters. Occasionally there may be a price war (or retaliation), but the small firm may also exit voluntarily, thereby avoiding possible confrontation. The amount of time that the small firm stays in the market and the timing of the price wars do not follow any predictable pattern, which is part of the mixed strategies that both firms play in equilibrium.

Notes: A panel of speakers, knowledgeable in the problems of photogrammetry in the Third World, led a discussion which considered the place of sophisticated photogrammetric equipment in the Third World, problems of technician and management training, the desire for self reliance, and the needs of map revision.〈section xml:id="abs1-2"〉〈title type="main"〉RésuméUne confrontation entre photogrammètres sur le sujet photogrammétrie et tiers-monde; équipement, instruction des techniciens, problèmes d'organisation, désir d'autonomie, révision des cartes.〈section xml:id="abs1-3"〉〈title type="main"〉ZusammenfassungEin Forum von Kennern der Probleme der Dritten Welt führte eine Diskussion über den Platz moderner Geräteausrüstungen in diesen Ländern, über Probleme der Ausbildung von Technikern und Führungskadern und erörterte den Wunsch nach Selbstbestätigung und die Notwendigkeit zur Laufendhaltung von Karten.

Notes: The problems associated with the depiction of a particular irrigation area by both line map and orthophotomap are described and the results compared.〈section xml:id="abs1-2"〉〈title type="main"〉RésuméDes problèmes soulevés par la description d'une aire d'irrigation à l'aide d'une carte ou d'une ortho-photocarte: comparaison des résultats.〈section xml:id="abs1-3"〉〈title type="main"〉ZusammenfassungBeschreibung der Probleme, die bei Auswahl sines Bewässerungsgebietes an Hand von Strich- und Orthophotokarten auftraten und Vergleich der Ergebnisse.

Notes: In 1981, a metric camera will be launched into space on a European Space Agency Spacelab mission. This paper examines the specification for this mission and the expected results. Other developments are also considered. These include the American large format camera and long focal length imaging systems.〈section xml:id="abs1-2"〉〈title type="main"〉RésuméEn 1981, une chambre métrique sera lancée dans l'espace (mission Spacelab de l'organisation européenne spatiale). On examine ici les buts et les résultats attendus, ainsi que de futurs développements; chambre américaine à grand format, systèmes à longues focales.〈section xml:id="abs1-3"〉〈title type="main"〉ZusammenfassungIm Jahre 1981 soll sich an Bord des Europäischen Spacelab-Satelliten eine Messkammer befinden. Im Artikel werden die Anforderungen an dieses Projekt und die zu erwartenden Ergebnisse diskutiert. Desgleichen werden auch andere Entwicklungen, worunter sich die amerikanische Grossformat-Kammer und langbrennweitige Systeme befinden, erörtert.

Notes: Many attempts have been made to use various types of photography for traffic studies. The problems most frequently encountered are the expense involved in obtaining the photography and the time consuming and, hence, expensive operation of collecting the required data from the photography. This paper discusses the problems associated with various types of photography and describes a study which has been carried out to evaluate the potential of 16 mm and 35 mm time lapse photography taken from a helicopter. The accuracy of two dimensional co-ordinate transformation systems for collecting the required data from the photography is also described. Finally, recommendations are made regarding the most suitable type of photography and the most convenient and accurate transformation system to use when it is required to analyse the traffic flow data at complex urban and suburban intersections.〈section xml:id="abs1-2"〉〈title type="main"〉RésuméBeaucoup de tentatives ont déjàété faites pour étudier les problèmes de circulation par photographie: les difficultés sont le coût de la photographie, les délais d'obtention et le coût du dépouillement. On examine ici les possibilités offertes par divers types de photographies et on donne les résultats d'une étude entreprise pour évaluer l'intérêt de la solution; camera 16 mm ou 35 mm plus hélicoptère. On précise ici l'exactitude requise pour les transformations de coordonnées. On conclut par toute une série de recommandations.〈section xml:id="abs1-3"〉〈title type="main"〉ZusammenfassungEs gibt sehr viele Versuche zur Verwendung verschiedener Arten der Photographie für Verkehrsstudien. Die am häufigsten auftretenden Probleme sind die Kosten und der Zeitaufwand der Photographie, wodurch die Datenerfassung aus Photos teuer wird. Im Artikel werden die Probleme beschrieben, die bei Anwendung verschiedener photographischer Aufnahmen auftraten. Ferner wird ein Versuch mit 16 mm und 35 mm Zeitrafferaufnahmen aus dem Hubschrauber erörtert. Beschreibung der Genauigkeit zweidimensionaler Koordinatentransformationen zur Ermittlung der gewünschten Daten aus Photos. Abschliessend werden Empfehlungen bezüglich der am besten geeigneten photographischen Methode und zur Transformation der Daten gegeben, wenn Verkehrsströme an komplexen Kreuzungen in Städten und Vororten analysiert werden sollen.

Notes: On 17th January, 1978, the Secretary of State for the Environment announced the establishment of a Committee, chaired by Sir David Serpell, with the following terms of reference: “Taking account of the views of users and other interested parties, in the context of national surveying and mapping needs, to consider and make recommendations about the longer term policies and activities of the Ordnance Survey and ways of financing them.” Interested organisations, among them The Photogrammetric Society, were invited to submit evidence to the Committee. The Society's submission is reproduced in full. The Secretary of State has asked the Committee to report, if possible, early in 1979.〈section xml:id="abs1-2"〉〈title type="main"〉SummaryAs has been stated the national survey, comprising as it does the horizontal and vertical control frameworks and the basic scales mapping based upon it, represents (assuming completion of the last named) a priceless national asset, but it is not “money in the bank”. It is an ephemeral and fragile asset which will have been frittered away unless it is constantly maintained, repaired and refurbished; even so it will not last forever. At one time or another the various components will all require replacement eventually. What must be avoided at all costs is a repetition of such culpable neglect that it all needs replacement at the same time. This summarises what is now, and must remain, the prime objective of the Ordnance Survey. Superimposed upon this are the needs to make the survey available, in various forms, to users; to produce small scale mapping; and to collect and disseminate various other forms of topographic data.〈section xml:id="abs1-3"〉〈title type="main"〉Résumé Le 17 Janvier 1978, le secrétaire d'Etat à l'environnement anonçait la création d'une commission, présidée par Sir David Serpell: les objectifs étant précisés de la manière suivante; “Tenant compte des besoins des utilisateurs et des autres parties intéressées aux activités cartographiques, proposer une orientation à long terme de la politique de l'établissement et revoir les modes de financement de l'Ordnance Survey.”Les organisations concernées, et parmi elles la Photogrammetric Society, étaient invitées à entrer en relation avec la commission: on reproduit ici in extenso la déposition de la Photogrammetric Society. Le secrétaire d'Etat a demandéà la commission de remettre son rapport début 1979 si possible.〈section xml:id="abs1-4"〉〈title type="main"〉Zusammenfassung Am 17.1.1978 kündigte der Staatssekretär für Umweltfragen die Gründung eines Komitees unter Vorsitz von Sir David Serpell an, dasfolgende Aufgabe erfüllen soll: “Analyse der Ansichten von Nutzern und anderen interessierten Gruppen bezüglich der nationalen Anforderungen an Vermessungswesen und Kartographie, um daraus Empfehlungen für die längerfristigen Aktivitäten des Ordnance Survey und die Möglichkeiten zur Finanzitrung abzuleiten.” Interessierte Organisationen, darunter die Photogrammetric Society, wurden eingeladen, die Tätigkeit des Komitees zu unterstützen. Für Anfang 1979 soll ein Bericht vorgelegt werden.

Notes: The author has been involved in the manufacture of photogrammetric instruments for nearly 30 years. In particular, he was associated with the Thompson-Watts plotter and, at the present time, is concerned with the production of the CP1 and EMPD instruments which owe a great deal to his design and innovatory skills. This paper summarises his experiences and views of the production of photogrammetric equipment in England.〈section xml:id="abs1-2"〉〈title type="main"〉RésuméPendant 30 ans l'auteur a participéà l'élaboration d'appareillages pour la photogrammétrie: en particulier les restituteurs Thompson–Watts; et maintenant les appareils CP1 et EMPD qui lui doivent beaucoup. Il condense ici l'expérience et les idées qu'il a dans ce domaine.〈section xml:id="abs1-3"〉〈title type="main"〉ZusammenfassungDer Autor ist seit fast 30 Jahren an der Herstellung photogrammetrischer Auswertegeräte beteiligt. Insbesondere verbunden war er mit dem Thompson–Watts Plotter und befasst sich gegenwärtig mit der Fertigung der Geräte CP1 und EMPD, an denen er durch seine schöpferischen Fähigkeiten grossen Anteil hat. In dem Artikel werden seine Erfahrungen und Ansichten bei der Produktion photogrammetrischer Geräte in England zusammengefasst.

Notes: An application of photogrammetry in the measurement of palatal surface area is described. The accuracy of the photogrammetric method in such applications is also discussed.〈section xml:id="abs1-2"〉〈title type="main"〉RésuméDétermination par photogrammétrie de l'aire du palais buccal; indications sur l'exactitude obtenue.〈section xml:id="abs1-3"〉〈title type="main"〉ZusammenfassungDie Anwendung der Photogrammetrie zur Vermessung der Gaumen-oberfläche wird beschrieben und die Genauigkeit photogrammetrischer Verfahren bei solchen Messungen werden diskutiert.

Notes: Book review in this ArticleTHE UNITED KINGDOM FROM SPACE (2). By D. J. Carter and H. J. P. Arnold. Space Frontiers Ltd. Havant, Hampshire, 1977.SURVEYS FOR DEVELOPMENT. Edited by J. J. Nossin. Elsevier Scientific Publishing Co. Amsterdam, Oxford, New York, 1977.REMOTE SENSING OF THE TERRESTRIAL ENVIRONMENT. Edited by R. F. Peel, L. F. Curtis and E. C. Barrett. Butterworths, London, 1977.MAPPING FOR FIELD SCIENTISTS. By W. Ritchie, D. A. Tait, M. Wood and R. Wright. David and Charles, Newton Abbot, Devon, 1977.SURVEYING AND PHOTOGRAMMETRY. COMPUTATION FOR CIVIL ENGINEERS. By D. E. Murchison. Newnes–Butterworths, London, 1977.RESOURCE SENSING FROM SPACE: PROSPECTS FOR DEVELOPING COUNTRIES. Report of the Ad Hoc Committee on Remote Sensing for Development. US National Academy of Sciences, Washington, D.C., 1977.MISSION TO EARTH: LANDSAT VIEWS THE WORLD. By N. M. Short, P. D. Lowman, S. C. Freden and W. A. Finch. National Aeronautics and Space Administration, Washington, D.C., 1976.REMOTE SENSING IN GEOMORPHOLOGY. By H. Th. Verstappen. Elsevier Scientific Publishing Company, Amsterdam, Oxford, New York, 1977.

Notes: A camera calibration method for object distances of 1 m to 4 m is described.〈section xml:id="abs1-2"〉〈title type="main"〉RésuméOn décrit une méthode d'étalonnage de chambres de prise de vues pour des distances de prises de vues de 1 à 4 mètres.〈section xml:id="abs1-3"〉〈title type="main"〉ZusammenfassungDiskussion eines Verfahrens zur Kammerkalibrierung für Aufnahmeentfernungen von 1 m bis 4 m.

Notes: Stereophotography with a pair of 35 mm cameras and stroboscopic illumination was used to record, reconstruct and measure the trajectories of falling hailstones under extremely adverse natural conditions. Since it was not possible either to fix or to measure precisely the camera positions and orientations, a method was devised to obtain both the three dimensional hailstone co-ordinates and the camera positions and orientations by making use of the otherwise redundant information contained in the stereo-photography.〈section xml:id="abs1-2"〉〈title type="main"〉RésuméOn a utilisé deux cameras de 35 mm et un éclairage stroboscopique pour enregistrer en vue de leurs restitutions les trajectoires de grêlons; ceci n'a pu être réalisé que dans des conditions difficiles. Comme il n'était pas possible de stabiliser les cameras et de déterminer les coordonnées des points de station, on a mis au point une méthode spéciale.〈section xml:id="abs1-3"〉〈title type="main"〉ZusammenfassungDie Stereophotographie mit einem Paar von 35 mm Kameras und stroboskopischer Beleuchtung wurde angewendet, um die Kurven fallender Hagelkörner unter extrem von den natürlichen abweichenden Bedingungen zu registrieren, rekonstruieren und zu vermessen. Da es nicht möglich war, die Kammerstandpunkte und -orientierungen zu fixieren oder exakt zu vermessen, wurde ein Verfahren abgeleitet, um sowohl die dreidimensionalen Koordinaten der Hagelkörner als auch die Kammerparameter durch Verwendung der durch die Stereophotos gelieferten redundanten Informationen zu erhalten.

Notes: The Ordnance Survey's approach to the revision of the 1: 2500 scale series is discussed, with particular emphasis on the variety of photogrammetric methods which are used. The special problems of re-casting existing maps onto the National Grid projection, without losing the value of the existing detail, are outlined whilst emphasising the need to complete the revision with maximum speed to an adequate accuracy for a minimum cost.〈section xml:id="abs1-2"〉〈title type="main"〉Résumé On expose les méthodes de l′ Ordnance Survey en matière de révision des levés au 1: 2500; on examine le problème de l'adaptation des levés existants au système cartographique national, sans qu'il y ait perte de richesse.〈section xml:id="abs1-3"〉〈title type="main"〉Zusammenfassung Es wird ein Versuch des Ordnance Survey zur Laufendhaltung der Karte 1: 2500 beschrieben, wobei die verschiedenen photogrammetrischen Verfahren, die angewendet wurden, besonders betont werden. Die speziellen Probleme der Einpassung bestehender Karten in das Nationale Gitternetz ohne den Verlust der vorhandenen Details werden skizziert, wobei hervorgehoben wird, dass die Revision mit maximaler Geschwindigkeit ohne Genauigkeitsverlust bei minimalen Kosten durchgeführt werden muss.

Notes: The paper presents research and development at the Thematic Information Service of the Natural Environment Research Council (NERC) on the topic of integrated geographic information systems. The term integrated is used to describe the incorporation of vector digitised map data and raster scanned remotely sensed data within a single computational environment and with a single interface to the user. Point sampled and statistical data can also be handled by the system. The general structure and working of the Thematic Information Service (TIS) is described only to the extent that it is relevant to providing the background to the research or to highlighting why the specific approach described has been taken.

Notes: A procedure for digital image correlation is described which is based on least squares window matching. The immediate aim is high precision parallax assessment, point transfer, and point measurement. Experiments and theory have confirmed the high accuracy potential of the method. By implementation of charge coupled device (CCD) video cameras in an analytical plotter, an experimental hardware and software configuration has been established with which the operational on line application of digital image correlation for conventional photogrammetric measuring tasks can be tested. First results of calibration and performance of the system are presented. They allow optimistic conclusions as to the further development and practical application of digital image processing in photogrammetry.

Notes: Book review in this aticle:DESERTS AND ARID LANDS. Edited by F. El-Baz.IMAGES OF THE WORLD AN ATLAS OF SATELLITE IMAGERY AND MAPS. By C. Mueller-Wille with an interpretive supplement by R. M. Smith.ELEMENTS OF PHOTOGRAMMETRY. By P. R. Wolf.

Notes: The essential features of equipment for mobile processing are outlined with reference to the development of small photographic laboratory vehicles for use in the Jield. The resulting air film processor, the Wainco Products Limited 392. is described and details are given of trials carried out to establish its performance for a range of tasks in both reconnaissance and survey. The tests cover the sensitometric and drying behaviour of several air films in current use and include an analysis of the dimensional stability o f j l m in the processor. Applications using direrent containers and eflectiveness in improvised situations are also described and possible future variants of the processor are suggested.

Notes: Stimulated by promising overseas results with colour aerial photography and encouraged by its potential for solving local problems, the Forests Commission, Victoria, embarked on a series of trials with colour photography in 1965. Early results showed great promise and resulted in further work. This paper describes the methods and results of 70 mm and 35 mm trials concerned with the evaluation of various photographic films. An important aim of the study was to build up a working knowledge of the techniques of using aerial films other than conventional panchromatic black and white and to assess their value under Australian conditions.〈section xml:id="abs1-2"〉〈title type="main"〉Résumé Stimulés par les résultats obtenus outre-mer en matière de photo aérienne en couleur, et disposant d'un potentiel adéquat, le Forests Commission, Victoria a entrepris en 1965 une série d'essais, dès le départ très encourageants. On décrit ici les essais d'évaluation de différents types de film (70 mm et 35 mm); le but était de se familiariser avec la couleur et d'en étudier les conditions d'emploi sous les latitudes australiennes.〈section xml:id="abs1-3"〉〈title type="main"〉ZusammenfassungAngeregt durch erfolgversprechende Ergebnisse mit Farbluftbildern in Übersee und ermutigt durch die Möglichkeiten zur Lösung lokaler Probleme unternahm die Forstkommission in Viktoria (Australien) eine Reihe von Versuchen mit Farbaufnahmen im Jahre 1965. Diese Versuche erwiesen sich vielversprechend und wurden fortgesetzt. Im Artikel werden die Verfahren und Ergebnisse von Versuchen mit 70 mm und 35 mm Aufnahmen zur Bewertung verschiedener photographischer Materialien beschrieben. Ein wichtiges Ziel der Untersuchung war das Erlangen von Kenntnissen über die Verfahren zur Verwendung nichtkonventioneller panchromatischer Schwarz-Weiss-Filme und deren Bewertung unter australischen Bedingungen.

Notes: A short review is given of photogrammetric methods in use for the test recording of petroglyphs and archaeological sites. Two simple field methods employed by archaeologists to record petroglyphs are also described in order to highlight the complexity of photogrammetric techniques and to query their validity.〈section xml:id="abs1-2"〉〈title type="main"〉RésuméBrève revue de méthodes photogrammétriques en usage pour enregistrer pétroglyphes et sites archéologiques. On décrit en sus deux méthodes employees par les archéologues dont la simplicité contraste avec la complexité des méthodes photogrammétriques.〈section xml:id="abs1-3"〉〈title type="main"〉ZusammenfassungKurzer Bericht über die photogrammetrischen Verfahren zur versuchs-weisen Aufzeichnung von Petroglyphen und archäologischen Fundstätten. Zwei von Archäologen zur Aufzeichnung von Petroglyphen verwendete einfache Feldverfahren werden ebenfalls beschrieben, um die Komplexität der photogrammetrischen Methoden zu beleuchten und ihre Richtigkeit zu überprüfen.

Notes: The CP1 plotter has been employed to produce, from low altitude aerial photography, a detailed map at a scale of 1: 1000 of a major landslide which occurred in an urban area of Hong Kong with extreme relief differences. Geomorphological features of the landslide could be interpreted easily from the aerial photographs and shown on the map which provided an accurate record of the disaster. Experiments with computer mapping of the landslide using a limited number of height points obtained by the CP1 plotter have also been carried out and the results indicated that useful data could be obtained rapidly to meet urgent needs for the preliminary stage of investigation and the planning of reconstruction works after the disaster.〈section xml:id="abs1-2"〉〈title type="main"〉RésuméA partir d'une couverture aérienne à faible altitude, on a restitué au CP1 et à l'échelle du 1: 1000 une carte détaillée d'un important glissement de terrain survenu à Hong Kong et présentant d'extrêmes variations de relief. Les caractéristiques géomorphologiques du glissement aisément perçues sur les photos aériennes ont été reportées sur la carte. On a mené d'autre part des essais de cartographie numérique à partir de semis produits par le CP1, qui prouvent qu'on peut ainsi obtenir rapidement des données utiles aux enquêtes et mise sur pied des travaux de reconstruction.〈section xml:id="abs1-3"〉〈title type="main"〉ZusammenfassungDer CP1 Plotter wurde zur Herstellung einer detaillierten Karte im Massstab 1: 1000 nach Luftbildern aus geringer Flughöhe verwendet, um einen grösseren Erdrutsch mit extremen Höhenunterschieden im Stadtgebiet von Honkong zu kartieren. Die geomorphologischen Erscheinungen des Erdrutsches konnten leicht an Hand der Luftbilder interpretiert und auf der Karte dargestellt werden, die eine genaue Aufzeichnung der Katastrophe vermittelte. Es wurden auch Versuche mit einer rechnergesteuerten Kartierung des Erdrutsches mit Hilfe einer begrenzten Menge von Höhenpunkten, die mit dem CP1 Plotter gemessen wurden, durchgeführt. Die Ergebnisse besagten, dass dadurch wichtige Daten schnell ermittelt werden können, um dringende Anforderungen für eine vorläufige Einschätzung sowie die Planung des Wiederauf baus nach dem Unglück zu befriedigen.

Notes: A close range photogrammetric system, developed around a 35 mm Pentax camera fitted with a wide angle lens (f = 21 mm) and an early Zeiss wide angle multiplex, has proved useful for both instruction and research. Student exercises involve all phases of photogrammetry, from establishing ground control to plotting, and permit the integration of useful statistical routines for data analysis. Research applications have centred on the topographic mapping of microscale landforms at scales of 1: 1 to 1: 10 with accuracies of ± 1 mm to ± 5 mm.〈section xml:id="abs1-2"〉〈title type="main"〉RésuméUn système mis au point pour la photogrammétrie à courte distance, et dont les éléments essentiels sont une chambre Pentax (f = 21 mm) et un Zeiss grand angle multiplex, a fait la preuve de son utilité tant pour l'instruction que pour la recherche. Les exercices proposés aux étudiants comportent toutes les phases réelles, depuis l'établissement d'un canevas d'appui jusqu'à la restitution. Les applications à la recherche sont centrées sur la cartographie des microreliefs à des échelles variant de 1: 1 à 1: 10 avec des exactitudes variant de ± 1 mm à± 5 mm.〈section xml:id="abs1-3"〉〈title type="main"〉ZusammenfassungEin Aufnahme- und Auswertesystem zur Nahphotogrammetrie, bestehend aus einer 35 mm Pentax Kamera, die mit einem Weitwinkelobjektiv (f= 21 mm) ausgerüstet war, und ein alter Weitwinkel-Multiplex von Zeiss haben sich bei der Ausbildung und Forschung als nützlich erwiesen. Bei den studentischen Übungen werden alle Phasen der Auswertung von der Passpunktbestimmung im Gelände bis zur Stereokartierung erfasst, wobei es auch möglich ist, statistische Tests zur Datenanalyse einzubeziehen. Die Forschungsarbeiten konzentrierten sich auf die Herstellung topographischer Karten von kleinmassstäbigen Geländeformen in den Massstäben 1: 1 bis 1: 10 mit Genauigkeiten von ± 1 mm bis ± 5 mm.

Notes: A model of a multiple box girder bridge, constructed at a scale of 1: 12, was subjected to an ultimate load test. Deformations were measured photogrammetrically using the method of false parallax. Modifications to the method are described which were necessary to accommodate the three dimensional object and to allow for the fact that the camera stations were not constant from one load stage photograph to the next. An accuracy of ± 0·2 mm in the measured deformations was achieved.〈section xml:id="abs1-2"〉〈title type="main"〉RésuméUn modèle de boîte de vitesse à l'échelle 1: 12 est soumis à des essais de rupture; on mesure les déformations par photogrammétrie, en utilisant la méthode de la “pseudo-parallaxe”; des modifications ont dûêtre apportées à la méthode pour tenir compte du volume de l'objet et de la variation des points de vue entre les différents états de charge. On a obtenu une exactitude de ± 0·2 mm.〈section xml:id="abs1-3"〉〈title type="main"〉ZusammenfassungEin Modell einer Hohlkasten-Balkenbrücke im Masstab 1: 12 wurde einem maximalen Belastungstest unterworfen. Die Deformationen wurden dabei photogrammetrisch mit Hilfe von Pseudoparallaxen gemessen. Beschreibung der Veränderungen der Methode, die wagen der Anpassung an das dreidimensionale Objekt notwendig waren und der Tatsache Rechnung trugen, dass die Kammerstandpunkte bei den Belastungen nicht konstant blieben. Die Deformationen konnten mit einer Genauigkeit von ± 0·2 mm bestimmt werden.

Notes: This paper describes the modification, calibration and testing of a non-metric Linhof Technika View camera for use in the stereophotogrammetric mapping and analysis of dental features. The importance of correcting for errors of convergence in very short range stereophotogrammetry is stressed.〈section xml:id="abs1-2"〉〈title type="main"〉RésuméOn décrit les modification, étalonnage et test d'une chambre non métrique Linhof-Technika en vue de photogrammétrie dentaire; on insiste sur la nécessité qu'il y a de corriger l'erreur de convergence pour de telles études.〈section xml:id="abs1-3"〉〈title type="main"〉ZusammenfassungBeschreibung des Umbaus, der Kalibrierung und der Testung einer nichtmetrischen Linhof-Technika-Kamera für die stereophotogrammetrische Kartierung und Analyse von Zahnstrukturen. Betonung der Bedeutung der Korrektur von Konvergenzfehlern bei der Nahphotogrammetrie mit sehr geringen Aufnahmeentfernungen.

Notes: Microrelief mapping of the sea bed can only be carried out by photo-optical methods. It is shown that suitable equipment, bought off the shelf, can produce useful results. The paper describes equipment performance trials and a practical application in a study of large scale sea bed topography.〈section xml:id="abs1-2"〉〈title type="main"〉RésuméLa cartographie du microrelief de fonds sous-marins ne peut être faite qu'à partir de photos. On montre, qu'avec un appareillage convenable on peut obtenir des résultats intéressants. On décrit les tests, ainsi qu'un travail pratique d'application à un levéà grande échelle de fonds sous-marin.〈section xml:id="abs1-3"〉〈title type="main"〉ZusammenfassungDie kartographische Darstellung des Mikroreliefs des Meeresbodens kann nur auf photo-optischem Wege durchgeführt werden. Es wird gezeigt, dass mit einer geeigneten Ausrüstung günstige Ergebnisse erzielt werden können. Im Artikel werden Versuche zur Testung der Ausrüstung und eine praktische Anwendung zum Studium einer grossmassstäbigen Meerestopographie beschrieben.

Notes: The author reviews the historical background of the analytical orthoprojector and examines the design requirements for this instrument. The construction and performance of the Zeiss (Oberkochen)Z2 orthoprojector are described and an assessment is made of its practical advantages.

Notes: The new APY (Analytical Photogrammetry Yzerman) system is described and a detailed explanation is given of the principles involved. The APY depends on a unique modular design. A list of the straightforward operations required for its application in data compilation and revision is included.

Notes: The application of phorogrammetry to the measurement of deformation is discussed and four different approaches are identified and compared. References to and summaries of recent work are made.

Notes: The development and operation of an inexpensive retractable vertical camera rig is described. Unlike several commercially available camera packages, the cameras on this rig are accesible in flight thus permitting the changing of magazines and other operations. Since the camera carriage is only deployed when over the site to be photographed, the aircraft performance is not degraded during positioning flights.

Notes: An individual view is provided of the function of the art and science of photogrammetry, over the whole of the history of attempts to make measurements from optical observations. The predominating influence, in past years, of the need for mapping from air photographs is compared with the prospect that increasing demands for similar facilities in close range measurement, for application in fields such as mechanical engineering, medicine and architecture, may soon be seen to give further encouragement to the development of the subject. The author makes use of illustrations from his experience to point out simple cases where the potential of photogrammetric techniques, in the wider sense, has not been appreciated.

Notes: Few economic relationships have been as scrutinized as that between SNA measures of national product, investment and consumption, and welfare. The present paper contrasts SNA economic production and welfare to total production and welfare within the Walrasian framework of usefulness and costliness. An evaluation of deductions and additions to the SNA made by Nordhaus-Tobin, Zolotas, Richard and Nancy Ruggles, Kendrick, Eisner and Jorgenson-Fraumeni, in their research on extended product and income accounts and improved indicators of welfare reveals numerous unresolved analytical and measurement issues; and reaffirms the usefulness of the SNA as a fundamental, initial, welfare indicator.

Notes: Data from the International Comparison Programme (ICP) generate a number of analyses examining price and quantity relationships across countries. Although geographic location is sometimes evoked to explain differences across observations, it is seldom used to measure the extent of this interrelationship. Using ICP Phase V benchmark studies (Summers and Heston, 1991) at the level of household consumption for approximately 64 countries and 23 aggregate headings in 1985, this paper introduces such a measure, testing for spatial autocorrelation among price relatives with respect to three different measures of relative location: the pairwise existence of a common boundary, the distance between capital cities and the amount of trade between two countries.

Notes: This paper examines issues involved in calculating a value added index in order to measure real value added at the industry level. Three methods of calculating real value added are considered; the Laspeyres double-deflation method recommended by the United Nations System of Nation Accounts, the commonly used single-deflation method, and the double-deflation Divisia method. Actual data are employed to clarify and illustrate the issues involved, and the paper concludes with a recommendation for an appropriate index to use when calculating industry real value added.

Notes: The National Accounting Matrix including Environmental Accounts (NAMEA) shows environmental burdens that are consistent with the economic figures in the national accounts. In the NAMEA, the existing national accounts matrix has been extended with accounts in physical units. On the basis of the expected contribution of each polluting substance to a particular environmental problem, emissions are converted to theme equivalents. This results in six summary environmental indicators that are directly comparable to the conventional economic aggregates. In addition, this meso-level information system can be used as the core data framework for integrated analyses and forecasts of economic and environmental changes.

Notes: This paper analyzes how inequality in Before and After Government income has changed in Germany since reunification using the 1990 through 1992 waves of the German Socio-Economic Panel. A Theil decomposable inequality index is used to measure inequality in Germany and in its eastern and western states. Massive public transfers from west to east have narrowed the east-west income gap, substantially offset the rise in income inequality from private sources, and lowered overall inequality in the western states. The net result of this policy has been a drop in After Government income inequality in Germany between 1990 and 1992.

Notes: The paper concerns the links between labour force accounts and national accounts. It first discusses the variation in the perception of labour force among countries which results in much disparity in recorded participation rates. This obviously makes international comparison difficult. Since benchmark labour force information is often tied to population censuses which are infrequent and vary in concepts and approaches, even comparisons within a country over time are difficult. Finally a discussion of the use of labour force data to estimate the unrecorded economy is followed by suggestions on the direction for future work.

Notes: Four alternative measures of the average duration of unemployment are examined with the intention of illustrating: (1) the biases inherent in the average incomplete duration of unemployment, a statistic that is often the only one reported by many statistical agencies; and (2) the robustness of the average complete duration of unemployment to a host of assumptions underlying its derivation by non-parametric methods. Canadian data are employed, but the results offer a guide to the construction of the average complete duration of unemployment that may have broader applications.

Notes: The transformation of a non-market to a market economy ought to change fundamentally the significance of money incomes for welfare. Whereas in a stressful non-market economy such as the former Soviet Union, non-monetized resources could substitute for money income and promote welfare, in a modern market economy money income should be a good proxy for household welfare. This article tests the extent to which Russians are now in a modern market economy by analyzing data from nationwide Russian surveys in January, 1992, and April, 1994. Modern influences are increasingly important as a determinant of the distribution of money incomes, but not as an influence upon household welfare. The “randomness” of temporary disruptions of welfare is in accord with Rawlsian principles of equity.

Notes: The calculation of purchasing power parities and quantity comparisons for a given year provides interesting information about the relative importance of countries. However, it is necessary to make these estimates annually in order to enable users to apply these parities for international comparison of annual data expressed in national currency. The paper deals with the problems related to merging spatial comparisons and temporal volume and price movements for the countries of the European Community. For these countries full information was collected in 1975 and in 1980, whereas in the intermediate years some price data were collected and price indices at a detailed level have also been collected. First the theoretical problems of consistency between the spatial results and temporal indices are discussed. Because no immediate consistency can be obtained, several methods are proposed to achieve consistency, by estimating one unique set of spatial and temporal indices. The available information for the period 1975-80 has been used in order to test the numerical differences between two sets of parities and price indices over time. Besides theoretical reasons for inconsistency, it is also necessary to take into account errors in the price observations or in the price indices. The results presented in the paper should be considered as provisional and further work will be undertaken to obtain better insights into the inconsistency between these sets of data.

Notes: To know the size and development of the hidden or underground economy is important for policy making, mainly because the measures undertaken may be misdirected if they are based on biased official statistics. The hidden economy can be measured by considering indicators. The direct methods are based on voluntary surveys and on tax auditing and other compliance methods. The indirect estimation methods rely on the identification of residuals with respect to income and expenditures, as well as in the labor and money markets. The strengths and weaknesses of each of these measurement approaches are discussed and the resulting estimates of the size of the hidden economy are compared. A different approach to measurement is to look at the determinants leading to the existence and growth of the hidden economy. Finally, the method of “unobserved variables” allows the combination of the two approaches by simultaneously considering the determinants and indicators of the under- ground economy. The results show a considerable range of sizes for a given country and year. Though there is a broad range of size estimates, there is general agreement that the hidden economy's size has been growing for all countries over recent decades. Further progress in quantitative knowledge about the hidden economy requires the development of a theoretical model which analyses the interdependencies between the official private sector, the hidden economy, and the public sector.

Notes: Income redistribution studies on the macro–economic level have been undertaken in Denmark for the years 1938–39, 1949, 1955, and 1963. By use of national accounts figures and all other available statistics, it was on certain assumptions possible to distribute public sector income and expenditure by income groups.A quite different approach is used in a Danish redistribution study on the micro-economic level for 1971, which relies solely on the comprehensive data from the family budget survey for that year. Unfortunately this study only relates to employee households.This paper deals with the 1963 and 1971 studies. First it describes and discusses the differences in methodology between the two studies and indicates some ideas for future studies in this field in Denmark. In the following sections some main results of the two studies are given, briefly for the 1963 study and more comprehensively for the 1971 study. The studies show the great and growing strength of the policy of redistribution through public sector income and expenditure in Denmark.It is the opinion of the authors that the appearance of redistribution studies based on comprehensive family budget surveys makes for a substantial improvement of redistribution figures, and that the purely micro-level frame of reference makes it possible to interpret the results in a more satisfactory way than before. Furthermore, the appearance of detailed input-output based national accounts data should bring about further improvements in redistribution figures through better data on indirect taxes and subsidies as well as supporting data which are necessary to link the micro and macro levels in a consistent way.

Notes: It is often discussed that inflation introduces a substantial, arbitrary and regressive redistribution of income and wealth under even mild inflation. But after a quarter century of experience with inflation in postwar Japan, very little is known about these costs of inflation on an empirical basis. Due to the complexity of the evaluation of the redistributional impact on Japan, the present paper analyzes the effects of inflation on individuals or groups as wage earners, debtors and creditors, taxpayers, and holders of real estate.The main results of the present investigation suggest that the Japanese inflation for 1955–75 did not seem to introduce much inequality in the income (flow) account in the economy, but that the inequality between households has appeared more in the wealth (stock) account, especially between the house-owner groups and non-house-owner groups. These observations are mainly derived from the following investigations; (i) the wage lag hypothesis about inflation, even if not wrong, does not seem acceptable when applied to the entire period (1955–75) as well as to each of the five sub-periods; (ii) there has been a substantial transfer of real purchasing power from households to non-financial corporations, and, to a lesser extent, to government entities in the debtor-creditor redistribution; (iii) among households, the most substantial redistribution takes place from the non-houseowners to houseowners with land, because of the huge amount of capital gains from the rapid increase in the price of real estate relative to the prices of other assets or the consumer price index, except for the last three years of rampaging inflation.

Notes: Preliminary estimates of the total incomes system of accounts (TISA) are provided for 1959 and 1969. They extend conventional accounts to include all consumption services produced by government and households as well as by enterprises, but define household purchases of durable and semi-durable goods as investment. Acquisitions of capital throughout the economy, intangible as well as tangible, and not only in the business sector, are included in capital accumulation along with, for tangible capital, net revaluations, that is capital gains net of increases in the general price level. Imputations are offered for non market consumption and capital accumulation, most prominently in unpaid household work and education. Much of government output, particularly police services and defense, is recalculated as intermediate, along with expenses related to work, while media services, treated by the United States Bureau of Economic Analysis (BEA) as business purchases of intermediate product, enter into TISA consumption. Subsidies are included in the value of product, as are services of volunteers and imputations for the underpayment of military conscripts and of jurors. Separate accounts are offered for the national income and product, business, nonprofit institutions, government enterprises, government and households.The ratios of BEA to TISA Net National Product were 81.4 percent and 76.5 percent in 1959 and 1969, respectively. BEA national income was 74.1 percent of the corresponding TISA net national income in 1959 and 69.6 percent in 1969, reflecting a greater per annum rate of growth of TISA net national income, 7.49 percent, as against 6.82 percent for the corresponding BEA national income.BEA gross private domestic investment, restricted to business acquisitions of tangible capital at original cost, was estimated as only approximately 22 percent of comprehensive TISA gross domestic capital formation in 1959 and some 20 percent in 1969. The BEA net private domestic investment growth rate of 7.32 percent per annum from 1959 to 1969 may be compared with a TISA net domestic capital formation growth rate of 9.42 percent.

Notes: This paper describes a study designed to provide quarterly estimates of the real capital stock of the United States by sector and industry, which is being undertaken by the Conference Board. It surveys the history of wealth estimation in the United States, and goes on to describe work now in progress both in the Bureau of Economic Analysis and by private researchers. It then continues with a description of the methodology being used in the Conference Board study.