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  • Blackwell Publishing Ltd  (7,461)
  • Annual Reviews
  • 1995-1999  (8,532)
  • 1980-1984
  • 1995  (8,532)
Collection
Publisher
Years
  • 1995-1999  (8,532)
  • 1980-1984
Year
  • 1
    Electronic Resource
    Electronic Resource
    CONTRADICTIONS ALONG THE COMMODITY ROAD TO ENVIRONMENTAL STABILIZATION: FORESTING GAMBIAN GARDENS (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 27 (1995), S. 0 
    Details
    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Notes: In the past decade a shift in ecological politics has set off a scramble to “protect” and “defend” putatively pristine ecosystems in Africa, Amazonia and Southeast Asia. This aggressive program bespeaks a new sense of manifest ecological destiny among environmental organizations and donors and has given rise to a “politics of stabilization” characterized by new forms of property and labor relationships. This paper traces the impact of ecological policies on commodity production in Gambia where communal market gardens run by women's groups are being converted into privatized orchards managed by male landholders in a state-directed, donor-funded initiative designed to meet stabilization goals. The zealous pursuit of commercial objectives has come at the expense of critical food entitlement and livelihood strategies which currently form the basis of the rural Gambian political economy. The paper uses this evidence to urge reconsidering the politics of environmental intervention.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1995.tb00283.x
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  • 2
    Electronic Resource
    Electronic Resource
    WHOSE WOODS ARE THESE? COUNTER-MAPPING FOREST TERRITORIES IN KALIMANTAN, INDONESIA (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 27 (1995), S. 0 
    Details
    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Notes: This paper examines the politics of land and forest rights in Kalimantan (Indonesian Borneo). Forest mapping by government forestry planners allocates rights of resource use and land access according to forest types and economic objectives, only rarely recognizing indigenous occupancy rights or forest territories customarily claimed or managed by local people. As maps and official plans based on them ignore, and in some cases criminalize, traditional rights to forest, forest products, and forest land for temporary conversion to swidden agriculture, indigenous activists are using sketch maps to re-claim territories - a process that requires re-defining many traditional forest rights. The paper considers the political implications of mapping and the implications of a focus on land use rather than forest use.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1995.tb00286.x
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  • 3
    Electronic Resource
    Electronic Resource
    TREES AS TOOLS, TREES AS TEXT: STRUGGLES OVER RESOURCES IN ZAMBRANA-CHACUEY, DOMINICAN REPUBLIC (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 27 (1995), S. 0 
    Details
    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Notes: The people of the Rural Federation of Zambrana-Chacuey, in the Dominican Republic, are engaged in complex and multivalent struggles over resources in a forest and farm landscape subject to rapid land use change. Acacia mangium, a fast growing tree recently introduced as a timber cash crop, has become an object, a site and a tool of struggle in conflicts between local and state interests, and between women and men. Until recently, tree cutting has been illegal, so the government-approved acacia has reversed the role of trees from liabilities to assets in land tenure. The acacia has also begun to alter the pattern of land use, land cover, and the species composition of the region's forests, gardens, and fields, and could replace women's diverse gardens with single species blocks of timber.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1995.tb00287.x
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  • 4
    Electronic Resource
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    Abstracts (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 27 (1995), S. 0 
    Details
    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1995.tb00289.x
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  • 5
    Electronic Resource
    Electronic Resource
    LOS ANGELES AFTER THE STORM: THE DIALECTIC OF ORDINARY DISASTER (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 27 (1995), S. 0 
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    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Notes: This article weighs recent scientific evidence that the urbanization of Southern California has taken place during one of the most unusual episodes of climatic and seismic benignity in the last 3500 years. Official disaster and resource planning, moreover, has been based on record-keeping shorter than the temporal wavelengths of the most important landscape processes. Indeed, the “biblical” flood, fire, and earthquake disasters of the last three years may only be a prelude to seismic and climatic events of far greater magnitude. What will be the future of the Los Angeles area if Congress refuses to continue federal disaster subsidies?
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1995.tb00276.x
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  • 6
    Electronic Resource
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    INDONESIA'S MEDAN MERDEKA: NATIONAL IDENTITY AND THE BUILT ENVIRONMENT (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 27 (1995), S. 0 
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    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Notes: Indonesia, among the world's most culturally diverse countries, has long grappled with the issues of national unity. This paper explores the meanings of Medan Merdeka [Independence Square] in central Jakarta, Indonesia - a particular site in which symbols for the abstract ideals of political unity and national identity were constructed in an urban space honoring the struggle for national independence. These symbols, however, also expose the struggle to define “Indonesianness” within the international geopolitical milieu of the post-independence years. As such they offer a glimpse into competing interpretations of identity and the real world struggle to impose meaning on the built environment.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1995.tb00278.x
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  • 7
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    Book Reviews (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 27 (1995), S. 0 
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    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Notes: Book Reviewed in this article: Doug Aberly (Ed.) Boundaries of Home: Mapping for Local Empowerment. James Duncan and David Ley (Eds.) place/culture/representation. Robin Fisher and Hugh Johnston (Eds.) From Maps to Metaphors: Charles Jencks. Heteropolis: Los Angeles, the riots and the strange beauty of hetero-architecture. J. Norwine. A Postmodern Tao: A Guide to Apprehending Ways of Meaning in Pathless Lands. Doreen Massey. Space. place and gender.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1995.tb00280.x
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  • 8
    Electronic Resource
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    ABSTRACTS (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 27 (1995), S. 0 
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    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1995.tb00281.x
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  • 9
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    ‘DON'T KNOW MUCH ABOUT GEOGRAPHY’: POSTHOLE DIGGING IN THE HARDPAN OF AMERICAN GEOGRAPHY (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 27 (1995), S. 0 
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    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1995.tb00272.x
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  • 10
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    SITUATED KNOWLEDGE THROUGH EXPLORATION: REFLECTIONS ON BUNGE'S ‘GEOGRAPHICAL EXPEDITIONS’ (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 27 (1995), S. 0 
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    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1995.tb00261.x
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  • 11
    Electronic Resource
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    RESEARCHING POPULAR THEATRE IN SOUTHERN AFRICA: COMMENTS ON A METHODOLOGICAL IMPLEMENTATION (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 27 (1995), S. 0 
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    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1995.tb00263.x
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  • 12
    Electronic Resource
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    CONTRADICTIONS BETWEEN ACTION AND THEORY: FEMINIST PARTICIPATORY RESEARCH IN GOA, INDIA (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 27 (1995), S. 0 
    Details
    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1995.tb00265.x
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  • 13
    Electronic Resource
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    Abstracts (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 27 (1995), S. 0 
    Details
    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1995.tb00268.x
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  • 14
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    How Effective Innovative Companies Operate — Lessons from Japanese Strategy (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Japan's economic miracle results from a combination of factors including governmental support for selected industries, labor factors, cultural factors, management factors, and corporate strategy. When corporate strategy is examined, it becomes clear that to Japanese firms, strategy is a market share game, with constant striving for lower costs and relative differentiation achieved largely through continuous improvement. At the core of this strategy are product and process innovation. This article describes the typical large- and medium-sized Japanese firms' innovation strategies in terms of several decisions which taken together constitute innovation strategy.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8691.1995.tb00211.x
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  • 15
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    Innovation and Competition: Survival Skills Through Stress Reduction (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: As the world economy begins to shift from the industrial states of the past toward marketable service orientations, the need for those adults under highly stressful circumstances to reduce their stress levels becomes imperative. The peak performer, whether in business and industry, education and teaching or any other field, should regard, accept and anticipate stress indicators by using appropriate methods to alleviate that stress before it becomes highly detrimental to employment and personal performance. The utilization of those activities we played as children can become modified tools and techniques for the stressed personality.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8691.1995.tb00197.x
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  • 16
    Electronic Resource
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    Book of the Quarter (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
    Details
    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8691.1995.tb00203.x
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  • 17
    Electronic Resource
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    On The Conceptual Foundations of Creative Problem Solving: A Response to Magyari-Beck (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8691.1995.tb00202.x
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  • 18
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    Letter from Heerlen (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: 1995 promises to become a sparkling year in the development of the European Association for Creativity and Innovation. Patrick Colemont, director of E.A.C.I., invites you to clink a glass and to propose a toast for success.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8691.1995.tb00204.x
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  • 19
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    Book Reviews (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Book review in this ArticleHaridimos Tsoukas (editor), 1994, New Thinking in Organizational Behaviour: From social engineering to reflective actionPatrick D. T. O'Connor, 1994, The Practice of Engineering Management - A New ApproachJohn Naisbitt, 1994, Global Paradox: The bigger the world economy, the more powerful its Smallest PlayersBen-Zion Sandler, 1994, Computer-Aided Creativity.Louis Kraar, Seiichi Takikawa, Japanese MaverickBurkard Sievers, 1994, Work, Death and Life Itself: Essays on Management and Organization
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8691.1995.tb00205.x
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  • 20
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    Editorial (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8691.1995.tb00195.x
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  • 21
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    The Emerging Political Perception of Organizations: Two Paradigms (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This article examines the premise that increasing concentration of power in large, multinational organizations will eventually necessitate the political control of such organizations to ensure the interests and well-being, however defined, of their host countries. This view assumes that centralized control is necessary to prevent abuses of power by private organizations who are not necessarily concerned with the public good. Another view is the anarchist paradigm, where it is assumed that people and groups, left to sort things out among themselves, will eventually produce outcomes beneficial for the whole. Aligned with this approach is the transformational or emerging paradigm. I will examine the assumptions that underlie each paradigm and leave the reader to decide their relative validity.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8691.1995.tb00199.x
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  • 22
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    Planning For Entrepreneurial Innovation: Field Studies in Poland and Ukraine and Lessons Learned (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Former Socialist Central and Eastern European Countries are working to achieve economic self-sufficiency. The creation of high-value-added jobs to retain their skilled workpeople and the achievement of international economic competitiveness are major challenges they face. In this article the author proposes the strategy of regional economic development through entrepreneurial innovation, with emphasis on technological companies. The viability of this approach, and the lessons learned from it, are assessed using case study material from Poland and Ukraine.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8691.1995.tb00201.x
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  • 23
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    OPTIMAL INVESTMENT OF A LIFE INTEREST (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 5 (1995), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: We consider the problem of a trustee faced with investing a sum of money, the interest from which will be received by one party (the life-tenant) during his lifetime while the capital will go to another party (the survivor) on the death of the life-tenant. We assume mat there are n+ 1 assets in which the trustee may invest—n risky assets of geometric Brownian motion type and one nonrisky asset. Under assumptions as to the utility functions of the two parties, we find the collection of Pareto optimal investment strategies for the trustee together with the corresponding payoffs. We do this by optimizing the payoff of the Lagrangian for the problem. We go on to present the Nash optimal solution for the trustee.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9965.1995.tb00068.x
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  • 24
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    CERTAINTY EQUIVALENCE AND LOGARITHMIC UTILITIES IN CONSUMPTION/INVESTMENT PROBLEMS (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 5 (1995), S. 0 
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    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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    URL: http://dx.doi.org/10.1111/j.1467-9965.1995.tb00069.x
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  • 25
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    OPTION PRICING USING THE TERM STRUCTURE OF INTEREST RATES TO HEDGE SYSTEMATIC DISCONTINUITIES IN ASSET RETURNS (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 5 (1995), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: This paper demonstrates the use of term-structure-related securities in the design of dynamic portfolio management strategies that hedge certain systematic jump risks in asset return. Option pricing formulas based on the absence of arbitrage opportunities in this context are also developed. the analysis is for the case where assets returns are driven by a finite number of Brownian motions and an m-variate point process. the inclusion of :the additional traded assets in the term structure makes it possible to hedge systematic jumps imbedded in the m variate point process.
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    URL: http://dx.doi.org/10.1111/j.1467-9965.1995.tb00070.x
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  • 26
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    OPTIMAL PORTFOLIO MANAGEMENT WITH FIXED TRANSACTION COSTS (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 5 (1995), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: We study optimal portfolio management policies for an investor who must pay a transaction cost equal to a fixed Traction of his portfolio value each time he trades. We focus on the infinite horizon objective function of maximizing the asymptotic growth rate, so me optimal policies we derive approximate those of an investor with logarithmic utility at a distant horizon. When investment opportunities are modeled as m correlated geometric Brownian motion stocks and a riskless bond, we show that the optimal policy reduces to solving a single stopping time problem. When there is a single risky stock, we give a system of equations whose solution determines the optima! rule. We use numerical methods to solve for the optima! policy when there are two risky stocks. We study several specific examples and observe the general qualitative result that, even with very low transaction cost levels, the optimal policy entails very infrequent trading.
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    URL: http://dx.doi.org/10.1111/j.1467-9965.1995.tb00071.x
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  • 27
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    BOOK REVIEW (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 5 (1995), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    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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    URL: http://dx.doi.org/10.1111/j.1467-9965.1995.tb00073.x
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  • 28
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    PORTFOLIO MANAGEMENT WITH TRANSACTION COSTS: AN ASYMPTOTIC ANALYSIS OF THE MORTON AND PLISKA MODEL (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 5 (1995), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: We examine the Morton and Pliska (1993) model for the optimal management of a portfolio when there are transaction costs proportional to a fixed fraction of the portfolio value. We analyze this model in the realistic case of small transaction costs by conducting a perturbation analysis about the no-transaction-cost solution. Although the full problem is a free-boundary diffusion problem in as many dimensions as there are assets in the portfolio, we find explicit solutions for the optimal trading policy in this limit. This makes the solution for a realistically large number of assets a practical possibility.
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    URL: http://dx.doi.org/10.1111/j.1467-9965.1995.tb00072.x
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  • 29
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    DEFAULT RISK INSURANCE AND INCOMPLETE MARKETS (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 5 (1995), S. 0 
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    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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    URL: http://dx.doi.org/10.1111/j.1467-9965.1995.tb00064.x
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  • 30
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    ARBITRAGE IN SECURITIES MARKETS WITH SHORT-SALES CONSTRAINTS (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 5 (1995), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: In this paper we derive the implications of the absence of arbitrage in securities markets models where traded securities are subject to short-sales constraints and where the borrowing and lending rates differ. We show that a securities price system is arbitrage free if and only if there exists a numeraire and an equivalent probability measure for which the normalized (by the numeraire) price processes of traded securities are supermartingales. Also, the tightest arbitrage bounds that can be inferred on the price of a contingent claim without knowing agents’preferences are equal to its largest and smallest expected normalized payoff with respect to the supermartingale measures. In the case where the underlying security price follows a diffusion process and where short selling is possible but costly, we derive partial differential equations that must be satisfied by the arbitrage bounds on derivative securities prices, and we determine optimal hedging strategies. We compute the arbitrage bounds on common securities numerically for several values of the borrowing and short-selling costs and show that they can be quite sharp.
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    URL: http://dx.doi.org/10.1111/j.1467-9965.1995.tb00065.x
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  • 31
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    EXISTENCE OF A NONNEGATIVE EQUILIBRIUM PRICE VECTOR IN THE MEAN-VARIANCE CAPITAL MARKET (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 5 (1995), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: We derive a necessary and sufficient condition for the existence of a nonnegative equilibrium price vector under which the total demand and supply of each asset balances in the standard mean-variance capital market. Also, we give an explicit formula for such a price vector. This formula shows that the price of assets is an increasing function of p̄, the weighted average of the requested rate of return of individual investors, which tends to infinity as p̄ approaches the expected rate of return on the market portfolio. Further, we construct a macroeconomic index which gives information about the soundness of the capital market.
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    TAKEOVERS OF DIFFUSELY HELD FIRMS: A NONSTANDARD APPROACH (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 5 (1995), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: A common theme in the literature on corporate control is that, when share ownership is diffuse, the free-rider problem prevents raiders from making acquisitions at tender prices below the postacquisition share price. In this paper, we address this question by formulating a nonstandard model of takeovers of diffusely held firms. It is demonstrated that, even when individual shareholdings are infinitesimal relative to firm size, takeovers succeed with positive probability and equilibria exist in which the raider earns substantial per share profits. Further, the Nash equilibria of the game are characterized with regard to raider profit, the aggregate fraction of shares tendered, and the relation between raider profit and the degree of randomization exhibited by shareholder tendering strategies.
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    CRITICAL STOCK PRICE NEAR EXPIRATION (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 5 (1995), S. 0 
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: We study the critical price of an American put option near expiration in the Black-Scholes model. Our main result is an estimate for the difference P̄ (t)- K between the critical price at time t and the exercise price as t approaches the maturity of the option.
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    ATTAINABLE CLAIMS IN A MARKOV MARKET (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 5 (1995), S. 0 
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: It is shown how, even when the market is incomplete, certain contingent claims are attainable: that is, they can be represented as stochastic integrals with respect to the process which describes the evolution of the asset prices.
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    MULTIVARIATE STABLE FUTURES PRICES (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 5 (1995), S. 0 
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: This paper introduces new techniques for modeling financial data under the assumption that the data belong to the domain of attraction of a multivariate stable Pareto law. We provide tail estimators for the index of stability parameter a and the corresponding spectral measure. These estimators are then applied to test the associtation of the individual components and to compute estimates of portfolio risk and the covariation of commodities. A practical example is given using DM-dollar and JY-dollar exchange rates data.
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    ISOLATING THE WILD CARD OPTION (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 5 (1995), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: Many embedded options are difficult to value the wild card option in the Treasury bond futures contract is one of these embedded options. We illustrate how narrow theoretical bounds on the value of this option, relative to the price of the contract, may be obtained in the presence of other embedded options. Simulations suggest that the value of the wild card option is close to zero. This implies that, in this economy, a simpler pricing model of the Treasury bond futures contract, which ignores the wild card option, will result in only a small loss of accuracy.
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    TAX BASIS AND NONLINEARITY IN CASH STREAM VALUATION (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 5 (1995), S. 0 
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: The value of a future cash stream is often taken to be its net present value with respect to some term structure. This means that a linear formula is used in which each future payment is discounted by a factor deemed appropriate for the date on which the payment will be made. In a money market with taxes and shorting costs, however, there is no theoretical support for the existence of a universal term structure for this purpose. What is worse, reliance on linear formulas can be seriously inaccurate relative to true worth and can lead to paradoxes of disequilibrium. A consistent no-arbitrage theory of valuation in such a market requires instead that taxed and untaxed investors be grouped in separate classes with different valuation operators. Such operators are linear to scale but nonlinear with respect to addition. Here it is established that although these valuation operators provide general bounds applicable across an entire class, individual investors within a tax class can have more special operators because of the influence of existing holdings. These customized valuation operators have the feature of not even being linear to scale. In consequence of this nonlinearity, investors from the same or different tax classes can undertake advantageous trades even when the market is in a no-arbitrage state, but such trade opportunities are limited. Some degree of activity in financial markets can thereby be understood without appeal to differences in utility functions or temporary disequilibrium due to random disturbances.
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    ANNOUNCEMENT (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 5 (1995), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
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    FACTOR MODELS OF DOMESTIC AND FOREIGN INTEREST RATES WITH STOCHASTIC VOLATILITIES (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 5 (1995), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: We consider a two-country economy under the nonarbitrage assumption and where volatilities are stochastic. Assuming the existence of state variables, we show that, under some mild volatility assumptions, the model is actually fully specified. In particular, both term structure dynamics and the exchange rate process can be given endogeneously under the risk-neutral probability. We then derive the exact dependence of the zero-coupon bonds and the exchange rate on the underlying state variables. As a result, some closed-form solutions can be proposed for the derivative assets as futures and options written on foreign zero-coupon bonds.
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    APPROXIMATE COMPLETENESS WITH MULTIPLE MARTINGALE MEASURES (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 5 (1995), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: We construct a financial market with countably many securities for which there are two equivalent martingale measures under which the market is approximately complete. Thus, approximate completeness does not in general guarantee unique consistent prices for nonmarketed claims. the construction also produces an economy with two agents and infinitely many traded goods which is in equilibrium but has no equilibrium when a new good (recognized by all as redundant) is tentatively traded.
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    THE GARCH OPTION PRICING MODEL (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 5 (1995), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: This article develops an option pricing model and its corresponding delta formula in the context of the generalized autoregressive conditional heteroskedastic (GARCH) asset return process. the development utilizes the locally risk-neutral valuation relationship (LRNVR). the LRNVR is shown to hold under certain combinations of preference and distribution assumptions. the GARCH option pricing model is capable of reflecting the changes in the conditional volatility of the underlying asset in a parsimonious manner. Numerical analyses suggest that the GARCH model may be able to explain some well-documented systematic biases associated with the Black-Scholes model.
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    BOOK REVIEW (1995)
    Oxford, UK : Blackwell Publishing Ltd
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    Topics: Mathematics , Economics
    Notes: Book Review in this Article Dynamic Asset Pricing Theory, By Darrell Duffie
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    ARBITRAGE AND INFORMATION IN A SEQUENTIAL ECONOMY WITH MANY CREDIT AGENCIES (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 5 (1995), S. 0 
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    Topics: Mathematics , Economics
    Notes: This paper augments the theoretical foundations of organized commodity futures markets and uncovers singular facts about arbitrage and the role of information. Using the term “credit agency” to embrace organized futures markets such as the Chicago Board of Trade as well as independent brokerage houses, we extend the extant theory of temporary equilibrium for an economy with a single credit agency to economies with many credit agencies. In the process, we find that arbitrage with no risk of bankruptcy and with perfect interagency trade information can be incompatible with equilibrium (exact or approximate). On the other hand, the usual regularity assumptions are sufficient for the existence of at least an approximate equilibrium, provided that interagency trade information is imperfect (or risky). However, such imperfect information limits arbitrage so different agencies can have different prices.
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    VOLATILITY STRUCTURES OF FORWARD RATES AND THE DYNAMICS OF THE TERM STRUCTURE (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 5 (1995), S. 0 
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    Topics: Mathematics , Economics
    Notes: For general volatility structures for forward rates, the evolution of interest rates may not be Markovian and the entire path may be necessary to capture the dynamics of the term structure. This article identifies conditions on the volatility structure of forward rates that permit the dynamics of the term structure to be represented by a two-dimensional state variable Markov process. the permissible set of volatility structures that accomplishes this goal is shown to be quite large and includes many stochastic structures. In general, analytical characterization of the terminal distributions of the two state variables is unlikely, and numerical procedures are required to value claims. Efficient simulation algorithms using control variates are developed to price claims against the term structure.
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    Wage Premium in the Industrial Sector of the Spanish Economy: Empirical Evidence (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Labour 9 (1995), S. 0 
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    ISSN: 1467-9914
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    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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    Part-Time Work in the Nordic Countries: A Trap for Women? (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Labour 9 (1995), S. 0 
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    ISSN: 1467-9914
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    Topics: Economics
    Notes: Abstract. The aim of the study is to examine the consequences of part-time employment at the individual level, especially for women. Are part-time jobs precarious as compared to full-time jobs, and are they traps, or perhaps rather bridges, in the labour market? The results indicate that the situation of part-timers varies in the Nordic countries. On one hand, the gap between part-time and full-time work has narrowed in Sweden and Norway, which may reflect a normalization of part-time work in these countries. On the other, part-timers' situation in the Finnish labour market still seems more precarious than that of full-timers. However, in most cases part-time work is a bridge rather than a trap in the Nordic labour market.
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    The Redistributive Effects of the Tax Wedge in Italy (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Labour 9 (1995), S. 0 
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    ISSN: 1467-9914
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    Topics: Economics
    Notes: Abstract. This paper presents an original data set of microdata on the tax wedge in Italy, obtained by using the microsimulation model ITAXMOD, developed at ISPE (Institute for Studies on Economic Planning). These data are used to measure the components of the tax wedge and their burden on the total cost of labour at the individual level. The results have been aggregated across income brackets, socio-economic groups and sectors of employment. These data are the necessary preliminary input for any redistributive analysis and in addition they make the available data for Italy comparable with those of other countries. Scant attention has been paid up to now to the redistributive aspects of the tax wedge, since most analyses are based on the income of the “average production worker” which is far from an ideal standard for comparison. The computation of the tax wedge for different brackets of total labour cost has been explored in two ways. The first is related to the differing weights of the components of the tax wedge on cost of labour and no particular hypothesis has been made about the incidence of these components. The results show that the burden of personal income taxation and of social security contributions is very high even for wage-earners in the lowest brackets (in 1992, the estimated tax wedge is more than 44% of total labour cost even in the second decile of the labour cost). That might discourage both labour supply and labour demand across the entire spectrum of deciles of cost of labour. The second line of research studies the incidence of personal income taxes and employees' social security contributions on gross earnings, under the maintained hypothesis that these two components of the tax wedge are shouldered by the employees.
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    Real versus Nominal Convergence: National Labour Markets and the European Integration Process (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Labour 9 (1995), S. 0 
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    Topics: Economics
    Notes: : This paper investigates the role of national labour market characteristics for the chances of successful transition to EMU in Europe as well as for its viability The conclusions are rather pessimistic Although overlooked by the Maastricht Treaty the need for real convergence (I e convergence of real macroeconomic variables like unemployment) is emphasized as a major condition for success However current labour market characteristics in the EC make it quite unlikely that this condition will be fulfilled We show that the implementation of the Maastricht programme might turn into an obstacle to monetary unification
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    Bargaining Power and Wage Determination: The Role of Outside Options (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Labour 9 (1995), S. 0 
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    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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    THE ROLE OF SUBSTITUTION IN WICKSELL'S DURABLE CAPITAL MODEL (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 46 (1995), S. 0 
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: In this paper the author shows that the absence of a good which is used directly or indirectly for the production of other goods is a crucial feature of Wicksell's two-sector model, without which a positive relation between the value of machine stock and the consumption good output cannot be guaranteed. In fact he proves that, if that model is generalised by assuming that the capital good is used as an input also in its own production, the sign of the “marginal product of social capital” is indeterminate, even when both sectors have “well-behaved” production functions of a Cobb-Douglas type.
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    DIRECTED GRAPH THEORY AND THE ECONOMIC ANALYSIS OF INNOVATION (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 46 (1995), S. 0 
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    Topics: Economics
    Notes: This article applies digraph theory to the theory of technological regimes. The first part of the paper identifies a number of links between the evolutionary approach and a particular version of the neoclassical approach to the economic analysis of technological change. Both these approaches are shown to take the body of presently-available technological knowledge as a quantifiable magnitude allowing firms varying in strategy, structure and core capabilities to explore a range of feasible alternatives within the frontiers imposed by such knowledge. The second part of the paper therefore considers technological knowledge to be a cognitive empirical structure which can be better defined and calculated by using the theorems of digraph theory.
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    TAKING EFFORT SERIOUSLY: A REPLY TO CURRIE AND STEEDMAN (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 46 (1995), S. 0 
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    Topics: Economics
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    RICARDO'S THEOREMS ON RELATIVE PRICES A NOTE ON PROF. MORISHIMA (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 46 (1995), S. 0 
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    Topics: Economics
    Notes: It is argued that Prof. Morishima's treatment of Ricardo's theorems concerning relative price movements following changes in income distribution cannot count as a reasonable interpretation of Ricardo. Firstly, Ricardo linked up these price movements not only to diverging capital intensities, but also to diverging depreciation rates. Secondly, Prof. Morishima's proof seems to depend on a technology specification which is also characteristic of Sraffa's nonbasic commodity. A more reasonable interpretation seems to be that Ricardo tried to investigate a number of modifications on the ‘principle’ that relative prices are regulated by labour values. It is shown that Ricardo's theorems were, as first approximations, not at all bad.
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    REDUCIBLE VON NEUMANN MODELS AND UNIQUENESS (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 46 (1995), S. 0 
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper can be regarded as a result of basic research on the technological characteristics of the von Neumann models and their consequences. It introduces a new taxonomy of reducible technologies, explores their key distinguishing features, and specifies which ones ensure the uniqueness of von Neumann equilibrium. A comprehensive comparison is also given between the familiar (in)decomposability ideas and the reducibility concepts suggested here. All these are carried out with a modern approach. Simultaneously, the reader may also acquire a complete picture of and guidance on the fundamental von Neumann models here.
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    THE EVOLUTIONARY DYNAMICS OF FINANCIAL PRACTICES (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 46 (1995), S. 0 
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper presents a model in which financial practices are chosen by decentralized units on the basis of expectations regarding financial market conditions, while the probability distribution governing market conditions itself depends on the choices made. If all agents are unboundedly rational, there is a unique equilibrium in which expectations are self-fulfilling. The assumption of universal unbounded rationality is relaxed by introducing an optimization cost, which leads to the possibility that optimizers may not have a sufficiently great evolutionary advantage to eliminate nonoptimizers entirely. In this case behavioral heterogeneity can persist even in the long run. For certain classes of probability distributions governing financial conditions, the evolutionary dynamics of population composition can help explain a number of stylized facts regarding the dynamics of financial practices which have hitherto been explained on the basis of learning dynamics or systematic cognitive biases.
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    REALLY TAKING EFFORT SERIOUSLY (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 46 (1995), S. 0 
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    Topics: Economics
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    Integrating Environmental Issues into Corporate Strategy: A Catalyst for Radical Organizational Innovation (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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    Building a Vision - A Practical Guide (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Vision building is as old and natural as man himself. Vision building has become an effective means for individuals and organizations to set and achieve goals. A practical step by step guide to building a vision is presented, which was originally designed for building visions in groups and organizations, although with some modifications may also be used for generating individual visions.
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    The Psychoeconomic View of Creative Work in Groups and Organizations (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Although most research on creativity deals only with individuals, there are many settings in which creative tasks are assigned to groups. Indeed, in most contemporary research settings collaborative inquiry is the norm. Extensions to the psychoeconomic theory of creativity provide several specific predictions about the nature and optimization of group creativity. These predictions are based on consideration of the ways in which some individual differerences in creative style, such as domain experience and flexibility of thinking, are likely to interact. Instead of characterizing such attributes as conducive or harmful to the creative process, the psychoeconomic theory explicitly recognizes their potential for contributions in both directions. In particular, the theory implies that groups should be composed of heterogeneous participants who vary in their experiences within the domain in question, and who are only moderately familiar with one another, for most successful creative performance. This proposal is contrary to several theories which imply greater success from more congenial and symmetric groups. The theory also yields detailed predictions for how the optimal composition of a creative group should vary in response to changes in the characteristics of the group's members and the structure of its working environment.
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    Book of the Quarter (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Understanding and Recognising Creativity: The Emergence of a Discipline, Edited by Scott C. Isaksen, Mary C. Murdock, Roger L. Firestien & Donald J. Treffinger, Ablex Publishing Corporation, Norwood, NJ, ISBN 1 567750 006 4, 545pp, author and name index, pback. Nurturing and Developing Creativity: The Emergence of a Discipline, Edited by Scott C. Isaksen, Mary C. Murdock, Roger L. Firestien & Donald J. Treffinger, Ablex Publishing Corporation, Norwood, NJ, ISBN 1 567750 007 2, 363pp, author and name index, pback.
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    Participation and Creativity: New Forms of Suggestion Schemes in Sweden (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The idea of the suggestion scheme, its role and evolution, can be suitably examined in light of certain distinct mental models or currents of thought in industry and working life. Different perspectives can then be brought to bear on the subject.
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    Innovation or Bureaucracy? (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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    Letter from Heerleen: A matter of mutual objectives (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: E.A.C.I.'s corporate liaison sees co-operation and communication amongst members as one way in which to realize mutual objectives. Exploring these objectives is one of the points on the agenda this autumn in the Association's first corporate Podium.
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    Brand Legitimation and the Innovation Process (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: A new model is advanced to explain the adoption and diffusion of niche products into consumer markets, comprising a Discovery and Legitimation construct and related double S-shaped life cycle. The Discovery phase characterises branding as a two-way process with consumers imposing their own values on brands as well as brands communicating values to customers. Legitimation occurs when a brand has values that are in harmony with those of its customers, including a distribution and social context. In the proposed double S-shaped life cycle, products undergo an unusually long introductory phase, during which they are discovered by a relatively small number of ‘discoverer’ consumers. Personal influence and word of mouth further diffuse the product at which point growth is constrained by limited distribution and promotion. Subsequently, the brand extends distribution and utilises mass communication to gain access to the mainstream market. An outline of the process in action is offered.
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    Bridging the TQ/CI Gap: The Case of Lucas Car Diesel Systems, Sudbury (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper will focus on the link between organisational and individual learning in the Continuous Improvement (CI) process. It argues that the relationship between Total Quality management programmes and CI is best understood through a close examination of the management processes that capture individual and, hence, Organisation learning in order to ensure that small scale innovations can be sustained on a constant and company-wide basis. Through a longitudinal case study of Lucas Car Diesel Systems, and supported by research carried out by the CIRCA project at the University of Brighton1, it looks at CI in three stages: before a decision is made to change the organisational structure, the “shock” stage that induces organisational change and the subsequent CI phase. It argues that a long term strategic goal of achieving CI is critical to engendering the necessary cultural changes that, in turn, are essential to creating an improvement based and innovative culture. The Lucas case study demonstrates that creating a pervasive CI ethos is fundamentally a question of managing small scale, sometimes non-pecuniary, innovations. But, as the case shows, it can be done through the effective management of communications and employee involvement.
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    Book Reviews (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Albert Rothenberg. Creativity and Madness. New findings and old stereotypes.Kelvin F. Cross, John J. Feather & Richard L. Lynch (1994) Corporate Renaissance: The Art of ReengineeringPaul Carroll, Big Blue: The Unmaking of IBMRobert Alan Black (1995) Broken Crayons: Break your crayons and draw outside the linesRobert Fritz (1994) CreatingRobert Fritz (1994) The Path of Least ResistanceUlf Grenander, General Pattern Theory
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    Dirt Cheap Gateway to the Global Village for the Rural Masses (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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    Experts and Novices in Innovative, Unstructured Tasks: The Case of Strategy Formulation (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Little is known about how managers interpret and elaborate strategic stimuli into further decision-making activities in novel, unstructured situations. Protocol analysis was conducted among a small sample of experienced managers and novices (managers to be) exposed to unstructured, strategic stimuli situations. The observed activities were found to partly deviate from decision making as portrayed in the research literature. Remarkable differences were also found between experts and novices in their interpretations and elaborations of strategic stimuli. Managerial and theoretical implications of the reported findings are highlighted.
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    Entrepreneurial Innovation: Beyond Schumpeter (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The Schumpeterian model of entrepreneurial action has been deeply influential in the study of entrepreneurship. This article examines the response to this model of the Indian researcher Mathew Manimala, published in Creativity and Innovation Management, Volume 2, number 3 and links it to the ‘value chain’ concept advocated by Michael Porter. This provides a scheme for stimulating intrapreneurship (entrepreneurial activities within large corporations), which requires the loosening of traditional boundaries between professional departments, and an acceptance of multi-function team processes.
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    Software Review (1995)
    Oxford, UK : Blackwell Publishing Ltd
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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    Computer Produced Mind-Maps, Rich Pictures and Charts as Aids to Creativity (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Good communication and shared understanding between executive teams are extremely important. Teams have to find ways to present increasing amounts of information to one another effectively. Techniques which help people to make better use of information, help discussion and debate, and aid clarity of communication are invaluable. Computer assisted creativity tools employing graphical representations have much to offer individuals and groups working on problems or trying to structure their thinking. They provide a stimulus which is absent when using conventional thinking. The paper provides a review of a selection of these creativity enhancing tools.
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    Job Satisfaction and Creativity Style: An Unexpected Empirical Finding (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The purpose of this study was to explore whether or not a relationship exists between managerial job satisfaction and creativity styles of U.S. and European managers. Data were obtained from a sample of 8,621 U.S. managers attending leadership development programs at the Center for Creative Leadership-U.S. and from another sample of 127 European managers attending leadership development programs at the Center for Creative Leadership-Europe. The results suggest that there is no relationship among various job satisfaction measures as derived from the Managerial Job Satisfaction Questionnaire and creativity style preference as measured by the Kirton Adaptation Innovation Inventory. Implications are discussed.
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    Would You Want Machiavelli as your CEO? The Implications of Autocratic versus Empowering Leadership Styles to Innovation (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The trend towards lessened hierarchy in business organizations is key to fostering the continuous innovation upon which competitiveness depends. Models of corporate leadership appropriate to this new organizational reality are not yet in place: business practitioners and scholars have questioned whether company leaders are recognizing the need to move away from traditional autocratic approaches towards styles that empower the modern knowledge worker. But what do autocratic and empowering leadership styles entail? And what do they imply to the manners in which corporations are controlled, not only by management, but by various stakeholders? Perhaps the corporate leadership of the future can learn from the past. The 15th century political theorist Niccolo Machiavelli and the ancient Chinese philosopher Lao-tzu represent archetypes of these leadership styles. When the two are compared in light of the control methods they elicit from employees, shareholders, and the government it becomes evident that the Machiavellian style attracts the very control it attempts to shun. The goals of the Taoist leaders, in contrast, are consistent with those of stakeholders; and many of the attributes of the Taoist approach are more suited to innovative climates. Theories of organizational learning offer insight into how the transition to a more empowering style might be accomplished.
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    TRIZ: Inventive Creativity Based On The Laws of Systems Development (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Different problem solving methodologies drawing on various philosophical and practical approaches are in use all over the world. This paper gives details of the TRIZ method, created by G. A. Altshuller in the former Soviet Union in 1946. TRIZ uses systems thinking concepts to structure problem solving and encourages the user to discover the objective laws of evolution and development in the field of inventive creativity. Examples of the use of the system and reflections on its impact are given by the author.
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    What's Going On Creatividad Aplicada Total (Master Internacional), Universidad de Santiago de Compestella (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 4 (1995), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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    Book Reviews (1995)
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Min Basadur (1994) The Power of Innovation: How to make innovation a way of life and put creative solutions to workGeorge Ritzer (1995) Expressing America: A Critique of the Global Credit Card SocietyAdam Smith (1995) Wealth of Nations: New interdisciplinary essaysKathryn Redway, Beat the Bumph!David K. Banner & T. Elaine Gayne (1995) Defining Effective Organizations: Traditional and transformational views
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    Bargaining In International Trade Under Exchange-Rate Uncertainty (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 3 (1995), S. 0 
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper examines the implications of various contracting alternatives between exporting and importing firms on the volume of international transactions. the contracts that we study are determined in a bargaining situation under exchange-rate uncertainty. First we look at contracts which entail an ex ante commitment on price and quantity of exports without the possibility of renegotiation ex post. Second, spot contracts, i.e., the price and the quantity of exports are negotiated after the exchange the rate is known. A third type of contracts consists of ex ante commitment and ex post renegotiation.
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    Trend Breaks and the Unit-Root Hypothesis For Newly Industrializing and Newly Exporting Countries (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 3 (1995), S. 0 
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    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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    Constant Consumption Paths In Open Economies With Exhaustible Resources (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 3 (1995), S. 0 
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: We examine the effects of international trade on the paths of investment which maintain consumption constant over time in each country, each of which produces an essential exhaustible resource such as oil. For countries identical except for the sizes of their oil stocks, the investing of own oil rents in machine capital will not result in constant consumption in each country. Adjusted rent-investment strategies are developed which do yield constant consumption in each country. We also report results on the link in each country between its consumption levels and aggregate current wealth.
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    Internal Quota-Allocation Schemes and the Costs of the Mfa (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 3 (1995), S. 0 
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    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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    Environmental Degradation As an Incentive For Trade (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 3 (1995), S. 0 
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: A modified Heckscher-Ohlin-Samuelson model is used in which industries are allocated by historical accident to geographical regions and agents care about their environment. Incentives for international trade arise when economies with identical factor endowments and geophysical characteristics differ in the allocation of industries to regions, and economies will tend to export goods produced in regions with higher environmental assimilative capacity.
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    Export Bans, Environment, and Developing Country Welfare (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 3 (1995), S. 0 
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    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Deforestation is a serious problem in several developing countries which are timber exporters. Export bans on logs, therefore, have been hailed by some as a welfare-improving policy relative to free trade. This paper explores the case for an export ban on an intermediate good whose production generates environmental damage. In this two-good model, a trade-off emerges between achieving the environmental target and raising national welfare. When environmental damage grows rapidly with output, an export ban is likely to raise welfare. However, it is also likely to lead to higher rates of harvesting than are sustainable.
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    Exchange-Rate Pass-Through With Intertemporal Linkages: Evidence At the Commodity Level (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 3 (1995), S. 0 
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    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper argues that the stability of exchange-rate pass-through is not well tested in common econometric specifications of pass-through equations. This is because (a) expected future exchange-rate changes are an important omitted variable in these estimations, and (b) the use of aggregate data complicates inference. Commodity-level estimates obtained from applying the Kalman filter are consistent with the apparent instability in aggregate pass-through. Moreover, by comparing these estimates to actual exchange-rate movements, the observed instability is found to be consistent with forward-looking behavior as posited.
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    Linking Absolute and Comparative Advantage to Intra-Industry Trade Theory (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 3 (1995), S. 0 
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Two countries, which differ with respect to domestic demand for two groups of differentiated products, are considered in a setting of monopolistic competition where international trade is subject to transaction costs. It is shown that relative differences in demand determine the trade pattern. Each country is a net exporter of that group for which domestic demand is relatively larger-where the country has a comparative home-market advantage. Absolute differences in demand determine relative wages. Thus, the paper argues that the notions of absolute and comparative advantage as found in traditional trade theory also have meaning in new trade theory.
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    Quota Wars In Conjectural Variations (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 3 (1995), S. 0 
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    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper uses a two-country, two-good, conjectural-variations model of trade to show that a quota war will not end in autarky as Rodriguez (1974) and Tower (1975) concluded. Since both countries expect retaliatory responses to reductions in their quotas, both countries are willing to stop the trade war before autarky is reached. the possible equilibria are free trade, two equilibria in which one country has its optimal quota while the other country chooses free trade, and an interior solution. It is possible that some, all, or none of these equilibria will exist.
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    Announcement (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 3 (1995), S. 0 
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    Topics: Economics
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    Book Review (1995)
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    Topics: Economics
    Notes: Book Review in the ArticleSafety Nets, Politics, and the Poor by Carol Graham
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    The Voluntary (Private) Production of Public Goods, the Gains From Trade, and Comparative Advantage (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 3 (1995), S. 0 
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    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Any (finite) number of privately produced public goods are incorporated into a general trade-theory model of private goods and factors. Postulating Cournot-Nash behavior, a necessary condition for gainful trade is derived. Potential trade gains are related to the law of comparative advantage in private goods and the change in the underproduction of public goods. A sufficient condition is also proven. Trade gains/losses are compared for more or less populous economies. All the results have analogues in the literature on imperfect competition and/or increasing returns to scale.
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    URL: http://dx.doi.org/10.1111/j.1467-9396.1995.tb00058.x
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    The Effects of Trade Liberalization On Cost-Reducing Horizontal Mergers (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 3 (1995), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper analyzes the effects of tariff reductions on horizontal mergers in a Cournot oligopoly in a two-country world. It is shown that for mergers between two domestic firms and for cross-border mergers which supply both markets from a foreign plant, unilateral tariff reduction encourages mergers which concentrate market power at the expense of mergers which reduce cost, while bilateral tariff reductions have the opposite effect, encouraging mergers which significantly reduce cost. Cross-border mergers which continue to supply each market from a local plant are discouraged by both unilateral and bilateral tariff reduction.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1995.tb00059.x
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  • 90
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    Tariff-Index Theory (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 3 (1995), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Tariff indices such as trade-weighted means, variances, and coefficients of variation are commonly used despite their lack of a theoretical foundation. This paper provides a theoretical framework for the index-number problem for tariffs. This paper shows that the Anderson and Neary (1993) trade-restrictiveness index is a function of “marginal trade-weighted moments” of the tariff schedule, higher mean and generalized variance both implying a higher TRI. In the CES case, the TRI is increasing in the trade-weighted mean and in the variance of the tariff schedule. For this special case the mean and the variance are partially legitimized.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1995.tb00060.x
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  • 91
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    On the Term Structure of Sovereign-Debt Contracts (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 3 (1995), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper studies the term structure of a repudiation-proof debt contract encompassing many sequentially scheduled short-term loans in a principal-agent (lender-sovereign borrower) framework. the extension of each loan is conditional on the full repayment of the previous loans in due maturity. Both direct sanctions and loss of access to the international credit market are present as debt-repudiation costs. It is shown that the proposed repudiation-proof composite contract exhibiting decreasing loan sizes and increasing maturities is better for coping with the enforcement problems that characterize sovereign lending.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1995.tb00061.x
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    Learning By Doing, Technology Choice, and Export Promotion (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 3 (1995), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper shows that when there is a high degree of learning by doing for a new superior technology (versus no learning by doing for the old inferior technology), there might be multiple equilibria in technology choice and export-market expansion. the inferior technology might be chosen when there is no coordination between the firms and the government. With coordination, Pareto improvement might be possible, with each firm choosing the superior technology and the government undertaking to expand the international market. This idea is demonstrated by a two-period (a learning period and a mature period) model with two firms that have symmetric demand and cost functions.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1995.tb00062.x
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    Protectionist Reputations and the Threat of Voluntary Export Restraint (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 3 (1995), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Voluntary export restraints are often administered in such a way that each firm's post-VER output allocation is positively related to its output under free trade. When this is true, a credible threat of a future VER will induce foreign firms to dump in the current period, decreasing the domestic price (the Yano effect), and possibly increasing welfare. We show that if an importing government's preferences are private information and if the government makes a series of VER decisions, there may exist an incentive for a welfare-maximizing government that normally prefers free trade to maintain a protectionist reputation by imposing a VER.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1995.tb00063.x
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  • 94
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    The Internationalization of the Us Wage Process (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 3 (1995), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper explains the wage-growth slowdown that occurred in the US in the 1980s. Using the vector auto regression method, it is shown that (I) a substantial portion of variations in the growth rate of average hourly earnings and other sectoral wages in the US can be attributed to exchange-rule changes; (2) during the 1983-1985 period the strong appreciation significantly reduced the growth rate of wages, but the subsequent depreciation had only modest effects; and (3) sectors like construction and services, traditionally assumed to be immune to foreign competition, have become sensitive to exchange-rate developments.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1995.tb00064.x
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    Technology Choice, Overtaking, and Comparative Advantage (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 3 (1995), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper argues that the basic concept of comparative advantage, used in international trade theory to establish choices of commodities exported, can also be used to explain choice of technology by a firm. A firm with a current leading position in a given technology may spurn a new technology, which is developed by a currently lagging firm, leading to future overtaking.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1995.tb00065.x
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    On Nations’ Size and Transportation Costs (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 3 (1995), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper develops a noncooperative Nash model in which a closed border is opened to trade between countries that differ in size and transportation costs. the paper suggests an explanation as to why economists have not convinced policymakers to lift all barriers to free trade. the questions we pose are: Who will gain as a result of opening the borders? Is free trade beneficial to the two parties involved? Do they both share equally in the fruits of free trade? Which country, large or small, benefits most? It is shown that free trade is not beneficial to both countries.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1995.tb00066.x
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    Some Implications of Imperfect Competition For Recent Trade Theory (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 3 (1995), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper argues that in a general-equilibrium context, it is not sensible for oligopolistic (and mono-polistically competitive) firms to maximize profit, because the outcome would be sensitive to the choice of the numeraire. the natural objective of these firms would be to maximize the utility of the shareholders if the shareholders are identical. I show that even if each firm takes the representative individual's marginal utility of income as given, the outcome of the utility maximization objective is Pareto optimal, and in equilibrium, each firm equates price with marginal cost.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1995.tb00067.x
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    Corrigendum (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 3 (1995), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1995.tb00068.x
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    International Environmental Permit Trade and Debt: the Consequences of Country Sovereignty and Cross-Default Policies (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 3 (1995), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: We investigate the joint occurrence of international intertemporal trade and international environmental-permit trade, both of which are subject to country sovereignty. Assuming that side payments cannot be made to keep a debtor country from terminating international environmental cooperation, we analyze the impact of these two trade opportunities on a debtor country's incentive to continue environmental cooperation. We also show how, by way of a suitable strategic linkage between debt and permit trade, the public good of ensuring continued environmental cooperation can be provided by the supply side of private international loans.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1995.tb00048.x
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    Dynamic Effects of Tariff Liberalization: an Intertemporal Cge Approach (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 3 (1995), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The paper presents a multisectoral CGE model with overlapping generations in which intertemporal optimization by households and firms determines savings and investment under perfect foresight. We calibrate the model to Austrian data and simulate a unilateral tariff liberalization scenario. We find that unilateral tariff reductions are expansionary in the long-run but involve considerable diversity in sectoral adjustment. Foreign debt increases in the long-run, causing an improvement in the trade balance. In terms of welfare, some old generations gain at the expense of young and future generations. Budgetary policies are shown to be crucial for several effects.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1995.tb00049.x
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