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  • American Physical Society  (10,129)
  • Blackwell Publishing Ltd  (7,461)
  • Cell Press  (3,567)
  • 1995-1999  (21,157)
  • 1960-1964
  • 1995  (21,157)
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  • 1995-1999  (21,157)
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  • 101
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    Review of income and wealth 41 (1995), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Several economists have recently suggested that the national product should be adjusted for the value of environmental damages. In this paper we look at some of the difficulties one encounters when the correcting formulae derived from simple theoretical models are transferred to applied national accounting. In particular, the paper is concerned with the question of whether a corrected national income measure will actually provide relevant information for policy-makers.It is shown that a “green national product” will be very difficult to interpret. In general, it may not give any indications of the necessity of imposing stronger environmental policy actions. Nor does it indicate the hypothetical state of the economy after a change in environmental efforts.
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  • 102
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    Review of income and wealth 41 (1995), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Using data on regional money stocks, a variant of Fisher's (1911) quantity theory of money identity, and a technique first suggested by Doblin (1951) and Friedman (1961), this paper presents the first consistently-based estimates of real GDP in each of the seven British colonies of Australasia for the period 1861–1991. Examination of the historical pattern of growth in the regional economies of Australasia has not previously been undertaken, due in particular to the dearth of data on aggregate incomes for the colonies (later states) of Australia. The data calculated here reveal the historical pattern of the domination of New South Wales, Victoria and New Zealand in real Australasian GDP, and the shrinkage of the cross-sectional dispersion of real per capita GDP in the seven colonies over this 13 1-year period.
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  • 103
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    Soil use and management 11 (1995), S. 0 
    ISSN: 1475-2743
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geosciences , Agriculture, Forestry, Horticulture, Fishery, Domestic Science, Nutrition
    Notes: Book reviews in this article: Soil science and sustainable land management in the tropics Edited by J.K. Syers & D.L. Rimmer. Long term experiments in agriculture and ecological sciences Edited by R.A. Leigh & A.E. Johnston.
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  • 104
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    Soil use and management 11 (1995), S. 0 
    ISSN: 1475-2743
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geosciences , Agriculture, Forestry, Horticulture, Fishery, Domestic Science, Nutrition
    Notes: Abstract. The erosion susceptibility of the Erosion Research Farm at Kabete Campus was mapped using a qualitative parametric method. A grid soil survey of the 4 ha farm was combined with a map of slope gradients, slope segments being delineated by breaks in slope. Rainfall erosivity and soil erodibility were also measured. Areas with the greatest erosion susceptibility according to this method were those occupying convex slope positions and slopes of more than 30%. Field observations and soil loss measurements generally supported the erosion susceptibility rating map produced by this method. The soil and erosion susceptibility maps were useful for planning erosion control measures and for selecting suitable sites for runoff plot experiments.
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  • 105
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    Oxford, UK : Blackwell Publishing Ltd
    Soil use and management 11 (1995), S. 0 
    ISSN: 1475-2743
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geosciences , Agriculture, Forestry, Horticulture, Fishery, Domestic Science, Nutrition
    Notes: Abstract. The Agricultural Catchments Research Unit model (ACRU) includes a decision support system (DSS) for estimating the water content of soil at field capacity (θfc) and wilting point (θwp) when these characteristics are not directly measurable. Three methods of estimation are proposed: (a) based on silt and clay content and bulk density, (b) based on clay content only, and (c) based on soil series. These three pedotransfer functions are compared with respect to both the estimation of θfc and θwp and the propagation of errors when the actual evapotranspiration of a wheat crop (E) is predicted over the growing season by the ACRU model.The standard error of estimation was between 0.066 and 0.082 m3/m3 for θfc, between 0.056 and 0.069 m3/m3 for θwp and between 29.9 and 34.8 mm of water for E. The method based on silt and clay contents and bulk density predicted θfc and θwp for non-swelling soils most precisely. The method based on soil series was better than other methods for swelling soils. It also performed better for estimating available water capacity and consequently for predicting E from a conceptual soil water model. The propagated error of estimating θfc and θwp using the DSS reached 15–18% of the simulated E. The error in the prediction of E can reach 26–30% when spatial variation in soil properties is also estimated.
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  • 106
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    Oxford, UK : Blackwell Publishing Ltd
    Soil use and management 11 (1995), S. 0 
    ISSN: 1475-2743
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geosciences , Agriculture, Forestry, Horticulture, Fishery, Domestic Science, Nutrition
    Notes: Abstract. Finely ground calcium carbonate was applied at six rates (0–7.0 t/ha) to samples from four depths of an acid tropical soil (Oxisol). The mixtures were kept moist and maintained at 18 °C for a period of 30 days. There was a significant increase (〉 28%) in soil pH at all the sampling depths. Extractable P also increased significantly (〉 90%). Significant positive correlations between pH, extractable P and liming rate were obtained (r 〉 0.9, P= 0.01). The effect of time was significant only on the 10th day after liming, when soil pH had stabilized. Exchangeable Al was completely eliminated on the 5th day after liming, when most of the soil samples had pH values 〉 5.0. The results clearly indicate that liming, as a management practice, could be used to alleviate or prevent acidification of Oxisols like the soil studied.
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  • 107
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    Soil use and management 11 (1995), S. 0 
    ISSN: 1475-2743
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geosciences , Agriculture, Forestry, Horticulture, Fishery, Domestic Science, Nutrition
    Notes: Abstract. The efficiency with which fertilizer nitrogen (N) is used in agricultural systems might be improved if the amounts applied at each top dressing were adjusted to avoid the accumulation of mineral-N in the soil profile to levels in excess of the growth requirements of the crop. Such tactical application of fertilizer would be feasible if soil mineral-N could be determined rapidly in the field with sufficient accuracy. This paper describes a rapid field test for both the ammonium and nitrate components of soil mineral-N based on reading paper test strips with a reflectometer, recalibrated for use with KC1 solution. The new test is volumetric and also accounts for the effects of fluctuations in soil water content by means of a standard dilution procedure to provide an absolute measure of soil mineral-N in about one hour. Measurements of ammonium and nitrate in a clay loam soil sampled from grazed pasture were compared with those made by conventional laboratory based methods; they generally differed by less than 5%. The proportion of mineral-N as ammonium averaged about 50% overall and typically exceeded 70% in spring. Ammonium and nitrate were not well correlated. The use of a filter-press to expel soil solution increased the sensitivity of the test five-fold to enable application in studies of soil N transformations in unfertilized and semi-natural environments.
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  • 108
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    Review of income and wealth 41 (1995), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Using a good inequality index, and data on personal income and cost-of-living estimates for the period 1981–90, interstate inequality in “nominal” and “real” personal income per capita is compared. Four points are noted. First, inequality in real income is smaller than that in nominal income. Second, while the nominal-income inequality shows the well-known increase over the 1980s, real-income inequality declined during the period. Third, inequality patterns in the wage and the non-wage components of income are somewhat different. Last, even the nominal-income inequality indicates a decline in the early 1990s.
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  • 109
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    Review of income and wealth 41 (1995), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This study presents a series of matrices of the capital stock disaggregated both by branch of origin and by branch of destination for the years 1985 to 1988 for Italy. The tables, whose dimensions are 23 × 23, were constructed using the perpetual inventory method and are based on disaggregated time series of gross capital formation provided by Istat (Italian Statistical Institute). The tables refer to both gross and net capital (with straight-line depreciation) and have been tested on alternative hypotheses for the average expected service lives of capital goods and their survival functions.
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  • 110
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    Review of income and wealth 41 (1995), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper presents some estimates of international trade in banking services. We use IMF data on assets and liabilities of both domestic banks and non-banks with foreign banks, and of foreigners with the domestic banking system to construct measures of the volume of transactions on which banking intermediation services are provided across national borders. We then use estimates of the spread between borrowing and lending rates for depositors and borrowers with the financial institutions involved to estimate the value of international flows of intermediation services. Estimates are presented for 1982–84 and 1991–93 for the U.S., the U.K., and Canada.
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  • 111
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    Review of income and wealth 41 (1995), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: In this paper, we define environmental protection (EP) activities in the context of an input-output (I-O) framework. The U.S. I-O table is adjusted to separate inputs purchased by various economic sectors to abate pollution. We use I-O concepts and the I-O matrix adjusted for EP activities to derive a matrix of inputs to EP activities, which is independent of the matrix of inputs to traditional economic activities. This matrix is the basis for deriving measures of the economic importance of EP activities, including the size of EP activities relative to GNP and direct employment and indirect employment attributable to EP activities.
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  • 112
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    Review of income and wealth 41 (1995), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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  • 113
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    Review of income and wealth 41 (1995), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper presents results of an examination of poverty in Poland in the 1980s. The individual welfare measure is expenditure on consumption per equivalent adult. Household equivalence scales are estimated using a quasi-exact scales trans logarithmic model. Four poverty indices are calculated. These are intended to capture the following aspects of poverty: (1) incidence, (2) relative deprivation, acid (3) social ability to eliminate poverty by income transfers. The study revealed significant changes in poverty during the investigated period, from 9 to 30 percent with persistent poverty resulting for pensioners, farmers and low educated persons.
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  • 114
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    Review of income and wealth 41 (1995), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: We provide an alternative axiomatization of Sen's (1976) poverty measure. We derive the measure from the general definition of a poverty measure by using a version of Sen's rank order axiom, and a substantially weaker form of his normalization axiom. These two axioms, together with a continuity axiom, lead uniquely to the measure suggested by Sen (1976).
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  • 115
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    Review of income and wealth 41 (1995), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: We develop a theoretical analysis of the impact of imperfect targeting, participation costs and incomplete take-up upon the level of progressivity, vertical equity, horizontal inequity and redistribution exerted by state benefits. An illustration using the distribution of British Supplementary Benefits (now Income Support) indicates that progressivity is roughly untouched, vertical equity and horizontal inequity are increased, and total income redistribution is slightly increased by these redistributive imperfections in 1985 Britain.
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  • 116
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    Review of income and wealth 41 (1995), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The paper analyzes the changes in poverty in Mexico during the 1980s adjustment program. We decompose poverty into its distribution and growth components, as well as by population subgroups, in order to illustrate the causes of the deterioration in the standard of living of the poorest of the poor. We suggest a transformation of the methodology by Datt and Ravallion (1992), to determine the likelihood of future compensation for those sectors of the population which suffered higher social costs derived from the contractionary policies. The importance of this exercise, is that it shows that contractionary measures may provoke deep structural transformations in an economy, which can make it more difficult to eradicate poverty in a reasonable time horizon.
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  • 117
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    Review of income and wealth 41 (1995), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The paper studies how, in the future, certain environmental concerns could possibly be addressed in the central framework of the System of National Accounts. Considering only economic (market-type) valuation and not ecological valuation. the position is taken that a number of changes to the SNA central framework may be envisaged. For example, accounting for the depletion of both renewable and non-renewable natural resources. The issue of the degradation of natural resources due to their use for disposal services and the joint loss of consumption services is more complex, volume aspects should be considered rather than simple adjustments in current value.
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  • 118
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    Review of income and wealth 41 (1995), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The objective of this paper is to estimate total factor productivity growth (TFP) in an international and sectoral setting using two alternative approaches based on the estimation of parametric stochastic frontiers and non-parametric production frontiers (DEA). The TFP is decomposed into two components, technological progress and efficiency change, that can also be interpreted as the results of the innovation and catching-up process, respectively. Finally their relationship is tested with a set of potential explanatory variables that includes R&D expenditures, international competition, and structural characteristics. It appears that the distinction between technological and efficiency performances does matter and must be taken into account in the design of industrial policy.
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  • 119
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    Review of income and wealth 41 (1995), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: How accurately do we measure the external deficit of the U.S. or the surplus of Japan? If checked at the global level, statistics on international trade and finance show large discrepancies. Such global statistical discrepancies hamper the analysis and understanding of world economic developments. An accounting framework—labelled World Accounting Matrix (WAM)—is proposed to cross-check the statistical consistency of commodity flows, international payments and internal balances across countries. The framework is applied to data for 1990. To obtain global consistency, substantial adjustments had to be made to the estimates of the external balances of the U.S. and Japan. The implications for global modelling work are potentially vast.
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  • 120
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    Review of income and wealth 41 (1995), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Hurd (1987) provided evidence from the Longitudinal Retirement History Survey that the retired elderly dissave. This paper attempts to refine and extend that analysis in several ways. I determine how sensitive his results are to his method for estimating missing data. I calculate median dissaving rates, a more robust measure of dissaving. I provide confidence intervals for those rates. Finally, 1 compute estimates based on a method that weights all households equally. The results are mixed. Hurd's dissaving finding is confirmed in many specifications, but questions are raised about dissaving among couples and the method of elderly dissaving.
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  • 121
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    Review of income and wealth 41 (1995), S. 0 
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    Topics: Economics
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  • 122
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    Review of income and wealth 41 (1995), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Three hypotheses on services, the Gershuny effect, the externalisation of producers services and the macroeconomic equation for the services share in employment, are tested with Brazilian data. The first two show trends similar to those in the developed economies, but, in the last one, findings are affected by consideration of the underground economy. The results suggest a dual character for Brazilian services: an informal, labour intensive group of sectors, present in the large metropolitan areas, coexists with a formal, less labour intensive one, where producers' services are probably predominant. These groups will respond differently to a greater trade liberalisation.
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  • 123
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    Labour 9 (1995), S. 0 
    ISSN: 1467-9914
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: : The procedure used to analyse a data set which includes only censored or incomplete spells is examined in this paper. First of all, the distributions of incomplete spell durations are analysed without explanatory variables (such as age, gender, and so on), assuming that unobserved completed spells have a Weibull distribution. The relationships between the mean of the incomplete spells and the mean of the completed spells are reported for first-job seekers, unemployed, employed and self-employed workers. Given that the unobserved completed spells are Weibull-distributed, the unobserved heterogeneity is introduced on the scale parameter of the Weibull. The heterogeneity, considered as a variable, is analysed for a binomial or Weibull distribution. As the beginning of a spell is a retrospective datum, the recall errors are modelled including the heaping effect. Using some proportional hazards models, the methodology to study the influences of explanatory variables on spell distributions is then described, once again including both the heterogeneity and the heaping effect. On this basis, the lengths of on-going spells of unemployment for first-job seekers and unemployed workers are modelled, as well as the current job tenures of employed and self-employed workers.
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  • 124
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    Labour 9 (1995), S. 0 
    ISSN: 1467-9914
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: : An important question for the development of the East German labour market in the transition to a market economy is whether wage differentials by qualification, industry or region (which were relatively small in the former GDR) adjust to those in market economies which are more in line with differences in productivities and economic conditions. We estimate empirical earnings functions to quantify the contribution of various important factors shaping the earnings distribution in the East German transition process. Estimation is based on the first six waves of the Labour Market Monitor which is a representative panel data set of the East German working-age population covering the period 1990 to 1992. The specification of the estimated earnings functions is motivated by the various hypotheses of the development of the East German wage structure in the transformation process. Although we find some similarities with the existing wage structure in West Germany, the East German wage structure still differs in some important dimensions.
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  • 125
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    Labour 9 (1995), S. 0 
    ISSN: 1467-9914
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Abstract. In the framework of structural adjustment programs implemented in Africa, the idea that wages in the public sector are too high compared to those of the private sector is partly based on wage policies with regard to the public sector. But the existence of public-wage differentials, inducing a labour market segmentation within the modern sector, has rarely been the object of attentive examination. With the help of earnings functions, based on homogeneous cross-section and logitudinal data of seven capitals of French-speaking Africa, the author plans to verify this hypothesis. The main conclusion of this research is that distortions on the modern labour market of many African countries are less important than one may think. In most of the countries considered, public-private wage gaps are essentially attributable to characteristics of individuals. This suggests that policies aiming to reduce wages of the public sector are no longer justifiable, economically and socially.
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  • 126
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    Labour 9 (1995), S. 0 
    ISSN: 1467-9914
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: : The paper analyses the wage bargaining process between an entrepreneur and his workforce when delays in agreement intrinsically reduce the amount of returns to be shared It is shown that the outside options of the workforce and the entrepreneur can be a systematic determinant of their bargaining power in contrast to what the Rubinstein (1982) model predicts The basic model is extended to analyse: (i) bargaining under multiple unionism; (ii) the- possible relationship between bargaining and efficiency wages; and (iii) under investment in workforce training.
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  • 127
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    Labour 9 (1995), S. 0 
    ISSN: 1467-9914
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: : This article is based on two surveys of Bulgarian manufacturing enterprises completed by the International Labour Organization in 1992 The surveys covering both state and private sector firms in this transition economy undergoing severe structural change collected a wealth of data on labour and employment practices at the micro level The authors examine recruitment and vacancy rates in the industrial sector managerial recruitment preferences on the basis of age gender and educational back ground and the recruitment methods used by managements in hiring workers The role of the national employment services in labour allocation is also analyzed revealing different recruitment strategies between state and private sector firms
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  • 128
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    New technology, work and employment 10 (1995), S. 0 
    ISSN: 1468-005X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
    Notes: This article takes the view that BPR in the dominant form in which it is presently characterised, is a re-expression of industrial age classical administration. As such it is oblivious of organization as a political entity or as a set of ‘human resources' . What is needed is a new model of BPR for the information age.
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  • 129
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    New technology, work and employment 10 (1995), S. 0 
    ISSN: 1468-005X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
    Notes: Here the author examines continuities and tensions between the discourses of Business Process Re-engineering and Human Resource Management. Addressing their respective assumptions and claims, especially with regard to the organization of ‘human resources', critical attention is focused upon their shared advocacy of employee empowerment and strong leadership from senior managers.
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    New technology, work and employment 10 (1995), S. 0 
    ISSN: 1468-005X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
    Notes: This article examines the hype surrounding BPR from a historical, theoretical and empirical perspective. It delineates three ways in which politics are critical to understanding BPR and uses findings on BPR practice, including from case study work and a 1994/5 UK survey conducted by the authors, to locate and explain BPR's appeal and also the less radical outcomes of BPR practice.
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    New technology, work and employment 10 (1995), S. 0 
    ISSN: 1468-005X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
    Notes: Capitalism is currently undergoing an epochal change. The associated corporate change is sticky for reasons of institutional inertia. Business process re-engineering is a corporate response which should be understood in technical, social and political terms. Core elements of BPR are identified, illustrated, and critiqued, partly through a BPR case researched by the authors.
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    New technology, work and employment 10 (1995), S. 0 
    ISSN: 1468-005X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
    Notes: This article examines the emergence of BPR from the literature on the strategic use of IT. Two case studies of BPR are then presented. Analysis of this material suggests that there is a tension between strategic re-orientation and cost-saving in many BPR projects which is difficult to resolve. This tension is explored further using a historical analysis of ‘frameworks' of computing.
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    New technology, work and employment 10 (1995), S. 0 
    ISSN: 1468-005X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
    Notes: This article explores the relevance of ideas emerging from business process re-engineering (BPR) for the information systems profession. The marginal role of this profession in conceiving and leading organizational change is examined. Against this background, current interest in BPR is seen as reasserting the challenge of incorporating an active engagement with organizational design into professional practices.
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  • 134
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    New technology, work and employment 10 (1995), S. 0 
    ISSN: 1468-005X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
    Notes: This article looks at the experiences, warts and all of BPR at The Post Office. In so doing it also reflects upon the nature of good practice.
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    New technology, work and employment 10 (1995), S. 0 
    ISSN: 1468-005X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
    Notes: Here the author examines the extent of BPR practice across UK government, reaching conclusions about overcoming impediments which arise in organizational change processes.
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  • 136
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    New technology, work and employment 10 (1995), S. 0 
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    Topics: Sociology , Economics
    Notes: The world economy is currently stuck in a ‘long wave’ downswing, due largely to the mismatch of a new technological 'style’ with established institutions. The article sketches the effects on the level and pattern of employment and discusses the reforms which will be needed to escape from the downswing.
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    Notes: Here the authors examine the unions' experience of building-related sickness among their members and argue that we can no longer treat the built working environment as a neutral factor when analysing the labour process.
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    Notes: Book reviews in this article:Tools for Change and Progress: A Socio-Technical Approach to Business Process Re-engineering Enid Mumfordm, Geert Jan BeekmanReengineering the Corporation: A Manifesto for Business Revolution Michael Hammer and James ChampyThe Essence of Business Process Re-Engineering Joe Peppard, Philip RowlandSoftware Assistance for Business Re-Engineering K Spurr, P Layzell, N Richards (Eds.)Re-Engineering the Networked Enterprise Y Jayachandra with Raul Medina-More Gita J Melkote Fernando FloresReengineering Information Technology: Success Through Empowerment Stephen, Baxter, David LisburnManagers Divided: Organisation Politics and Information Technology Management David Knights, Fergus MurrayBusiness Process Reengineering: Breakpoint Strategies for Market Dominance Henry J. Johansson, Patrick McHugh, A. John Pendlebury & William A. Wheeler IIIBeyond Business Process Reengineering: Towards the Holonic Enterprise Patrick McHugh, Giorgio Merli & William A. Wheeler III
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    Notes: This article examines the introduction of centralized processing. It looks at the multiple objectives underlying the initiative and how these were managed in implementation. Drawing on empirical data gathered at three similar sites a comparative analysis of the outcomes of centralization is presented and the variances are explained.
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    Notes: There are conflicting tendencies among recent developments in bargaining and participation at the workplace level in Europe. While there is an emphasis on decentralisation of bargaining structures in many countries, there is considerable variance. Similarly, there is a diversity of approaches to both direct and indirect forms of participation. Despite attempts by the European Community to integrate policies on these matters among member countries, external influences such as the globalisation of economies and technologies are leading to diverse outcomes.
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    Notes: Book reviews in this article:The Volvo Experience: alternatives to lean production in the Swedish auto industry Christian BerggrenPrices, Quality and Trust Mari SakoTechnology and Innovation in the International Economy Charles Cooper, EditorHi-Tech For Industrial Development: Lessons from the Brazilian Experience in Electronics and Automation Hubert Schmitz Jose Cassiolato (eds)Development, Technology and Flexibility: Brazil Faces the Industrial Divide Joao Carlos Ferraz Howard Rush Ian MilesTelecommunications and Politics: the decentralised alternative Andrew DaviesTelecommunications Services: negotiating structural and technological change B. Bolton et al., EditorsIn Search of Management Tony J. WatsonOther publications received
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    Notes: This article identifies three models that imply different views of the ‘impact’ of the use of computer based information systems for managers' work. Using case study evidence it argues that the ‘impact’ is not a stable and predictable outcome but a non-linear ongoing process that changes and evolves over time.
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    Notes: The title of Table 4 on page 336 should read: “Ancova of factors that might influence respondents' decision to leave the field”.The covariaties listed in the footer to Table 4 should read: “graduation cohort, experience at present”.
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    Notes: The research scientist, the planner, and the R&D manager require a methodology that can compose a wide range of technological options within a realistic production system context and subject these options to a comprehensive, multi-parameter economic analysis. A technologically-oriented approach to the generation and ex-ante assessment of technologies is developed for this purpose in an agricultural R&D context. The approach is based on morphological analysis, in which a production process is defined as a series of tasks each of which can be accomplished by one or more alternative techniques. The model is customized for any specific production system using information provided by technology experts. This information is received in the language of the technologist, structured in a way that promotes an holistic view of the system, and processed to answer the needs of the economic evaluator. The model has been well received by technologists in the analysis of about a dozen diverse R&D projects.
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    Topics: Economics
    Notes: Subscription Rates, Volume 15, 1995Individuals σ32.50 UK/Europe, $61.00 N America., σ39.50 Rest of WorldInstitutions σ120.00 UK/Europe, $212.00 N America', σ137.00 Rest of World
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    Notes: A case-study of the R&D networking activities of Glaxo Group Research was carried out between June and November 1993. Different types of networking situation were identified using a simple 2times2 matrix –- the ‘networking uncertainty map’. This paper describes the background to Glaxo's R&D networking activities, introduces and illustrates the uncertainty map and then suggests the implications of each type of network. There are implications in general for R&D management and more specifically for the management of human resources in R&D. Managers might easily apply the uncertainty map to their own R&D networking situations.
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    Notes: Firms that are able more quickly than others to add value through product development will be the winners in technology-based industries. This paper examines value-added progress by contrasting four agricultural biotechnology firms that have managed to create value with one that failed to do so. Lessons were induced for new firms struggling to develop products in emerging industries such as biotechnology. The following findings emerged from manager interviews and secondary data.In contrast to the ‘progressive’ firms, the failed firm neglected to develop a clear product-market focus, complementary skills outside its core technology, and relationships with universities and government. These contrasts seemed to stem from differences in the financing arrangements and the level of organizational politics. The failed firm received a generous one-time funding and had a relatively high level of politics, whereas the funding of the progressive companies was tied to performance milestones and little politicking took place. The reasons for organizational politics are discussed.
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    Notes: This study argues that inventive (R&D) efficiency may be an important factor in the competition for global market shares and goods and services. The authors compare R&D efficiency for 14 industrial groups in the United States and Japan using multiple indices of inventive efficiency. Findings show interesting differences in inventive efficiency across industrial groups and between the United States and Japan. United States food, textile, chemical, rubber, metals, fabricated metals, and other miscellaneous manufacturing industries appear to be relatively more efficient in inventive efficiency than their Japanese counterparts. In contrast, Japanese paper, petroleum, machinery, and scientific equipment industries display greater inventive efficiency than their United States counterparts. The electrical equipment, transportation, and stone industries in the two countries appear to be equally efficient. The implications of these differences are discussed.
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    Notes: This R&D Management Conference will be held on the campus of the University of Twente, Enschede, The Netherlands. The university is located in the picturesque countryside of Holland near the German border. The theme of the conference emphasizes the various links between R&D and quality. There is evidence that the quality of the R&D process has a significant impact on the quality, costs, timeliness and flexibility of other business processes, and products. Furthermore, Total Quality strategies and instruments could be useful in the management and organization of the R&D function. This conference is intended to act as a forum for academics and managers to exchange ideas and to develop new theories and techniques in this area.
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    Notes: This paper presents a model that seeks to understand and explain R&D performance differences in research-intensive companies. The primary theoretical model builds on the well-established theory of science as a public good but augments it with a game-theoretic argument for individual firm choices of scientific information openness or secrecy. The first research question we address is how a firm's scientific information openness, as measured by its research publications, impacts the firm's stock of technical knowledge. Additionally, we explore two predictor variables of scientific information openness: research lab and top management team demographics. The possible economic effects and other managerial implications of this model are also discussed.
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    Notes: This paper examines the role of additionality in the impact of EC R&D pro-grammes on firms. It comes from a study of the Impact of the EC Framework Pro-gramme on European Industry, which was sponsored by the Support Programme for Evaluation Activities in Research (SPEAR) of the EC. The argument is that there is an interaction between ie use of additional R&D resources, the organization of the R&D process, and the exploitation of R&D results. The analysis of the R&D process takes place within a framework based on the concept of the knowledge-base of the firm. A number of case studies are discussed and conclusions are drawn as to the impact of the EC Framework Pro-gramme on European firms.
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    Notes: LKAB is one of the world's leading sup-pliers of advanced iron ore products. Its most important markets are the blast furnace based steelworks of Europe. As a result of customers’ demands for ever-better products, LKAB has begun to apply Quality Function Deployment (QFD) to its product development pro-grammes. QFD, originally developed in Japan, is a technique which utilises a series of matrices to translate customers’ requirements into technical specifications that the producer can use. So far the methodology has mainly been used in the manufacturing industry, with very few applications in process industry.When launching its QFD project, LKAB began by making strenuous efforts to acquire credible and relevant customer data. Experience after one year's work has been encouraging; the QFD technique has proved to be an effective instrument for feeding customers’ requirements into the product development process. In addition, it serves as a guide to setting priorities for research projects. The technique promises to become an established tool in the cornpany's Total Quality Management programme.
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    Notes: Responding to the challenges of the marketplace compels firms to employ new production methods to improve product quality and delivery reliability, to reduce costs, and above all, to achieve greater flexibility. This paper outlines the system design of a group decision support system, developed to guide management through the process of new technology evaluation and adoption. The advantages of the proposed architecture include the opportunity to integrate a variety of independently developed components, the localisation of components (which leads to simplified maintenance) and the flexibility in the future for expanding and modifying the system.
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    Notes: This paper examines the factors that influence scientists in their choice and persistence in an area of research, and compares the experience of scientists who enter a field early with those scientists who follow in their footsteps once the field becomes widely accepted. Evidence is presented from an international survey of more than seven-hundred scientists working in the field of neural networks. After controlling for cohort and experience effects, the results suggest that early entrants as a group are indeed different in both their motivations to enter and their persistence to remain in the field. In general, compared with scientists who enter late, early entrants are significantly less influenced by the social dynamics of the research community.
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    Notes: An adequate supply of qualified research and development (R&D) personnel is an important precondition for a government policy that aims for a strongly knowledge-intensive economic growth. As in many other OECD countries, there is great concern in The Netherlands about meeting this crucial condition in the next decades. This article tries to show to what extent this current concern is justified. For that purpose, forecasts of future supply and demand for research manpower in the science and engineering fields (including agriculture and health) have been produced, extending to the year 2010. Sensitivity analyses show that the fore-casts are not very sensitive to alternative assumptions on economic growth, investments, replacement demand and labour supply.From a methodological point of view the forecasting approach differs from the more traditional manpower forecasting. Firstly, the demand for R&D personnel is split up into an increase in total employment for R&D manpower (expansion demand) on the one hand, and, on the other hand, the need for replacements for researchers who retire, die or switch to other occupations (replacement demand). Expansion and replacement demand are considered in three sectors of R&D work: universities, research institutes and private enterprises. Expansion demand and replacement demand together determine the job openings for newcomers. These job openings are confronted with the supply of new R&D manpower, which is largely determined by the output of the educational system. The confrontation of demand and supply forecasts shows that, in general, severe shortages of R & D manpower will result if there are not adequate manpower policy adjustment. The article closes with a discussion of the policy implications of the expected disequilibria in the market for R & D manpower.
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    Notes: New Technology-Based Firms in the 1990's In Search of Management: Culture, Chaos and Control in Managerial Work
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    Notes: Publicly funded research institutes in most countries have been pressed by economic and political pressures through the 1990s to become more financially independent, to be more accountable and to adopt more businesslike principles and practices. In this context the occupational roles and career options for scientists and research managers in these organisations have undergone considerable change. As the research cultures of these institutions take on a more commercial perspective, new and critical career path choices for both researchers and the organisations themselves have emerged. This article focuses on the changing occupational roles of research scientists and research managers in the Australian CSIRO (Commonwealth Scientific and Industrial Research Organisation), one of the world's largest multidisciplinary research organisations. Two critical occupational pathways are discussed: one between science and science management and another between science management and commercial management. Key points where the pathways diverge are identified and linked to broader issues of organisational culture and human resource management. The authors argue that research institutes such as the Australian CSIRO require a ‘multicultural’ management approach that horizontally integrates the industrial, scientific and commercial domains of the organisations’ research cultures.
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    Notes: Do the ‘grand’ strategic context characteristics of an acquisition (e.g., business relatedness of buyer and target) deter-mine the integration success of R&D functions after a takeover? Are acquisition management interventions (i.e., the way in which the integration process is man-aged) the key levers shaping integration success of R&D functions after a change in corporate ownership? Little non-anecdotal empirical data are available to answer these questions. Therefore, they were addressed with a sample of 92 acquisitions between German firms in 1988. Overall, use of management interventions which were designed to promote learning opportunities and reduce uncertainty for acquired employees (e.g., small group meetings to exchange information) but also degree of centralization of strategic R&D decisions in the hands of the acquirer were significantly positively related to integration level of R&D functions of both firms after an acquisition. With the exception of relative size of acquiree, strategic acquisition context characteristics were not directly related to R&D integration success. These characteristics may not be as important in shaping R&D integration success as management practitioners and scholars have thought.
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    Notes: This paper examines how scientists and engineers working in industrial R&D cope with the pressures of business and technological change and develop their careers. The data is drawn from a survey of nearly 1000 R&D staff working in large industrial corporations in Britain and Japan. Cross national comparisons are used to explore similarities and differences in coping strategies and in the human resource management challenges for companies. Particular attention is given to the problems of potential mismatch between RBD staff career orientations and available career opportunities.
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    Notes: This study examined the relationship between R&D team climate and team performance in a developing context, Korea. Given the fragmented results of existing studies in advanced countries, which explored largely the effects of individual dimensions of team climate on team performance, this study focused on the interaction effects among multiple dimensions of team climate. The interaction effects can produce seemingly contradictory or paradoxical bivariate associations between each climate dimension and team performance.Both bivariate and multivariate analyses, using data from 80 R&D project teams in both government-sponsored research institutes and private R&D centres in Korea, revealed the following results.1. Four dimensions of R&D team climate—autonomy, cohesiveness, change orientation, work pressure—were not positively associated with team performance. Rather, autonomy was found to have a significant negative relationship.2. Interaction effects of each team climate dimension were partially borne out. When the change orientation or work pressure of a team was high, autonomy had a positive impact on team performance. Otherwise, autonomous team climate deteriorated performance of the team. However, interaction effects between cohesiveness and change orientation or work pressure were not found significant.3. There appeared three clusters of R&D teams with similar climate characteristics. Teams with high autonomy but a low change orientation exhibited a lower level of performance than the other two clusters—one with low autonomy but high change orientation and work pressure, and the other with a medium level of autonomy and change orientation.The results implied that a holistic team climate, as well as an individual aspect of climate, had a significant impact on team performance. A configuration approach considering interaction effects among various climate aspects would be beneficial for the development of high performing R&D teams.
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    Notes: We provide a method for specifying the structure which integrates the human capabilities available to a firm and the needs of the market. The method uses ‘a layered configuration of actors and the objects they share, together with the associations between these actors and objects. This perspective allows the construction of models which detail the organizational interconnections which support the firm's long term program of human resource development and technological change. We define the method and illustrate its application to the construction of visual representations of structure using a case study. We then examine the applicability of the method to the setting of strategy and the improvement of the skill base of technology based firms.
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    R & D management 25 (1995), S. 0 
    ISSN: 1467-9310
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper evaluates the use of incentive systems in R&D to stimulate the motivation potential of R&D personnel. Special emphasis is given to the German Employee's Inventions Act, enacted in 1957 which is applicable to all enterprises under German law and provides guidelines for a mandatory compensation of employed inventors. The law's major content, its advantages and disadvantages are presented and discussed in detail. It is shown that the general consensus in industry is unfavourable to the German Act. A significant time lack between the invention and it's compensation, the lack of transparency of the compensation guidelines, the calculation of an adequate compensation level, and a high administrative effort of calculating the compensation are only some of the drawbacks of this law. The consequences of these problems are the encouragement of secrecy among R&D professionals and the negative impact on their individual motivation potential. We also report on an experiment that measures the individual preferences of R&D personnel for different incentive variables. The method of conjoint measurement is applied to this area, it's technique is described and assessed. It is found that different segments of respondents with different preferences exist. The empirical findings also indicate the need to increase the flexibility of existing incentive systems in German industry.
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  • 181
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    R & D management 25 (1995), S. 0 
    ISSN: 1467-9310
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Technological Collaboration in Industry; strutegy, policy and internationalization in innovation Corporate Venturing: Creating New Businesses within the Firm Handbook of Innovation Management Technology and enterprise in a historical perspective Intellectual Property for Engineers The Ernst & Young Business Plan Guide crnagement as a New Technology Mass Customization: The New Frontier in Business Competition
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  • 182
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    R & D management 25 (1995), S. 0 
    ISSN: 1467-9310
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    Topics: Economics
    Notes: Researchers in technology and innovation, organization research, and product standardization in economics have noted that innovations may become the dominant designs in their product classes for reasons that may have little to do with design. The emergence process for dominant designs has typically been viewed as a black box process involving a sophisticated interaction of technological and non-technological factors. This paper shifts the discussion to a strategic perspective. It argues that firms can frame the emergence process and can systematically manage elements of it in the pursuit of competitive advantage from innovation. An analytical framework is developed and discussed, with particular emphasis on the roles of certain external conditions, non-technological forces, and complementary assets, as well as the implications for R&D strategists and for future research. Four distinctive examples illustrate different aspects of the framework's utility.
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  • 183
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    Topics: Economics
    Notes: It is apparent that more and more organizations are embarking on collaborative ventures to develop products. This is particularly evident in Information and Communication Technology (ICT) sectors, so much so that part of the ‘received wisdom’ of ICT companies is that collaboration is the preferred route for product development. The benefits of collaboration have been well documented and are linked to the complexity and costliness of product development and the need for inputs from wide and varied areas of expertise as well as shorter lead times for product development. But the risks and costs of collsborative product development have been less well defined. In this paper, it is argued that the alleged rewards of collaboration may not be experienced in practice and that collaboration can lengthen the product development process, add to the cost of product development and prove difficult to control. However, management practice can facilitate the effective outcome of collaborative product development and the critical factors affecting the likelihood of successful management practice are presented here.
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  • 184
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    R & D management 25 (1995), S. 0 
    ISSN: 1467-9310
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    Topics: Economics
    Notes: Many technology institutes have been criticised for their dislocation from, or lack of relevance to, industry. This paper provides an overview of a major benchmaking study which analyzed in depth the most successful technology institutes from eight nations (four in Europe and four in East Asia). Institutes selected for study met a criterion which included a combination of dynamism, relevance to industry, contribution to the national science and technology infrastructure, independent fund-raising capability, innovative organizational structures, and effective management. The paper examines the activities engaged in by the eight institutes, the principal challenges they face, and identifies the main success factors underlying their achievements. The paper attempts to illustrate practical, best practice strategies by showing how leading technology institutes have successfully contributed to their national system of innovation. To this end, success factors have been categorized into those factors which are under the direct control of the institutes (internal), which are outside of their influence (external), and those which can be affected to a lesser or greater extent.
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  • 185
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    R & D management 25 (1995), S. 0 
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    Topics: Economics
    Notes: Extensive organizational changes in the management of product development work of industrial companies are currently taking place. Speediness (time-based competition) and/or ‘high’ quality (total quality) are emphasized and for this purpose concepts such as simultaneous, concurrent or integrated product development have been introduced. This paper describes a study of the importance of these concepts in 29 large Swedish manufacturing companies and how these companies deal with the implementation of the new product development concepts. In addition, three in-depth studies have been carried out to enable a more detailed study to be made of the effects of the product development work on time and quality variables.
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  • 186
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    R & D management 25 (1995), S. 0 
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    Topics: Economics
    Notes: Research and development is very crucial in an organization that faces rapid product obsolescence. Our thesis is that R&D project scheduling and resource planning should be born out of the optimum product launch plan which, in turn, should be in adherence to the growth rate targeted by the organization. Such an approach would ensure that the R&D activities of the organization are in tune with the Organization's goals. The absence of such coordinated R&D planning would hamper the productivity and profitability of the organization. This paper attempts to develop a methodology and model that would enable the streamlining of R&D project schedule. A real life case application has also been illustrated.
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  • 187
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    Topics: Economics
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  • 188
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    R & D management 25 (1995), S. 0 
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    Topics: Economics
    Notes: Globalization, Technology and Competition: The Fusion of Computers and Telecommunications in the 1990s Globalization, Technology and Competition: The Fusion of Computers and Telecommuni- cations in the 1990s High-Tech for Industrial Development: Lessons from the Brazilian Experience in Electronics and Automation Science and Technology Management Bibliography Intelligent Enterprise: A Knowledge and Service Based Paradigm for Industry
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  • 189
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    R & D management 25 (1995), S. 0 
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    Topics: Economics
    Notes: In recent years, consultants and academics have encouraged managers to use Human Resource Management (HRM) practices to help implement their competitive strategies. In particular, there has been enthusiasm for tailoring HRM practices to fit innovation strategies since achieving a competitive advantage based on technological superiority is very much associated with the quality of the firm's human resources. Unfortunately, there is little empirical research that examines how HRM can best support innovation strategies, and even less that evaluates the effectiveness of HRM practices in encouraging innovation in various functional settings, such as R&D departments. This research is an attempt to bridge this gap. Data were gathered from 115 divisions (SBUs) in 89 Fortune 500 companies in the US, and analyzed to identify which HRM practices used with R&D managers were most strongly associated with innovation and SBU performance. This article, which also includes descriptive data on how R&D managers are selected, compensated and evaluated, concludes with the authors’ recommendations on how R&D managers should be treated from an HRM perspective.
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  • 190
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    Review of international economics 3 (1995), S. 0 
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: We examine trend breaks and unit roots in aggregate and per capita real GDP for mine newly industrializing (NIC) and newly exporting (NEC) countries in east and southeast Asia. In 15 of the 18 cases, we reject the unit-root hypothesis in favor of trend stationarity with breaks. Our findings allow us to trace the growth paths of these NICs and NECs. While the shifts are due to both external and internal factors, most of the breaks are country specific and can be partly attributed to changes in government policies.
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    Review of international economics 3 (1995), S. 0 
    ISSN: 1467-9396
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    Topics: Economics
    Notes: This paper suggests that schemes used within developing countries to allocate textile export quota among domestic producers typically have more severe negative effects on developing-country economic performance than the MFA export quotas themselves. We summarize allocation schemes in 16 countries, highlighting common “lock-in” and “rent-dissipation” effects of such schemes. We then use a global general-equilibrium model to evaluate the effects of MFA removal with and without these additional effects. Results indicate that estimates of gains to developing countries from an MFA removal increase sharply when internal quota-allocation schemes are taken into account.
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    Singapore journal of tropical geography 15 (1995), S. 0 
    ISSN: 1467-9493
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Notes: Using a range of rainfall variables, rainy seasons in Hong Kong in each of 99 years have been characterised and classified into 11 groups. Many of the correlations between variables are low, indicating the need for a multivariate approach to classification. The main characteristics of each group of seasons, their frequencies of occurrence and a small number of sequences of types which are unlikely to have occurred by chance are presented. Characteristics of the rainfall variables and aspects of their temporal variations are also presented.
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    Singapore journal of tropical geography 15 (1995), S. 0 
    ISSN: 1467-9493
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    Topics: Geography
    Notes: This paper examines the perceptual images and residential desirability of public and private housing residents in Clementi housing estate in Singapore. Residents’ mental maps are established in terms of their levels of knowledgeability of activity nodes tied to various aspects of their lives, namely, workplaces, recreational and sports centres, shops and residential areas. The way the mental maps shape residents’ perceptions of what are desirable and non-desirable places to live in are also discussed. The paper highlights the significance of socio-economic differences, length of residence, physical proximity, levels of interaction and cultural leanings in influencing the mental maps and residential preferences of urban residents in Singapore
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    Labour 9 (1995), S. 0 
    ISSN: 1467-9914
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    Topics: Economics
    Notes: : It is noticed that in both theoretical and empirical analyses concerning the relationship between corporatism and economic performance, the role of government is kept rather implicit. This article aims to incorporate government into the analysis in a more explicit way by analyzing whether government policies differ between corporatist and non-corporatist countries. The empirical results of the research reveal that corporatist countries are not only characterized by centralization or coordination of wage bargaining, but also by relatively high government expenditure, tax revenues, a higher ratio of active to passive labour market policies and also higher average unemployment benefits.
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    Labour 9 (1995), S. 0 
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    Topics: Economics
    Notes: Abstract. Flexibility in relative wages can be either competitive or non-competitive. In Greece, in the period 1966–1988, wage and employment regulation as well as developments in industrial relations did not favour competitive flexibility and provided an environment conducive to non-competitive flexibility. With the noticeable exception of the period 1967–74, during which competitive forces emerged and played a dominant role, in 1966–88 the manufacturing labour market operated under the influence of industry-specific factors. Non-competitive flexibility associated with industry-specific changes in productivity in the long run and industry-specific rates of strike activity in the short run, influenced manufacturing relative wages. Furthermore, in 1977–88, the asymmetric response of industry wages to changes in industry productivity hindered employment growth.
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    Labour 9 (1995), S. 0 
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    Topics: Economics
    Notes: Abstract. The paper deals with present, demographically-based problems in highly-developed labour markets, with special reference to the Belgian and Dutch experience. Both sluggish inflow by young cohorts and early retirement by senior workers are analysed. The first of these phenomena can be explained by the falling birth rate and increasing educational levels; the second phenomenon is the result of technological changes in the labour market and a social security system which offers attractive opportunities for early outflow. For companies, this trend translates into a loss of experience and a loss of corporate culture. On top of this, the social security system is coming under heavy pressure and scarcity symptoms are likely to develop on the supply side of the labour market.
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    Labour 9 (1995), S. 0 
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    Topics: Economics
    Notes: Abstract. This paper presents evidence that firm-level productivity increases when the relative wage rises, or the level of unemployment rises. Both facts are consistent with the efficiency wage model. Moreover, there is support for the idea that an increase in the sector's wage with respect to the previous year also increases productivity. We obtain the empirical evidence through a double-hurdle model. We use this estimation technique because it can be established that the differences in productivity between sectors could be explained by differences in effort. It means that some of the industrial sectors of the Spanish economy may pay wage premia while others do not. We also test this implication through panel data.
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    Mathematical finance 5 (1995), S. 0 
    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: We investigate an optimal consumption/investment decision problem with partially observable drift. Logarithmic utilities are shown to be necessary and sufficient for the certainty equivalence principle to hold. For the sufficiency part of the proof, we allow a general stochastic structure about the unobservable drift. On the other hand, a simple Bayesian structure is assumed for the necessity part in order to utilize the Hamilton-Jacobi-Bellman equations.
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    Mathematical finance 5 (1995), S. 0 
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    Topics: Mathematics , Economics
    Notes: Book Review in this Articleeconomic and financial modelling with mathematica, hal R. varian (editor), telos/springer-verlag. new york 1993
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    Mathematical finance 5 (1995), S. 0 
    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: This paper uses the existence of secondary markets for debt instruments with default risk (e.g. corporate bonds) to define default insurance along the lines of financial economics. It examines whether, in the case of several risk-neutral measures, characteristics of default can be uniquely determined by the prices of contracts involving default-prone securities.
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