Capital market equilibrium with moral hazard and flexible technology

(Magill, M., Quinzii, M., 2002. Capital market equilibrium with moral hazard. Journal of Mathematical Economics 38, 149-190) showed that, in a stockmarket economy with private information, the moral hazard problem may be resolved provided that a spanning overlap condition is satisfed. This result depends on the assumption that the technology is given by a stochastic production function with a single scalar input. The object of the present paper is to extend the analysis of Magill and Quinzii to the case of multiple inputs. We show that their main result extends to this general case if and only if, for each firm, the number of linearly independent combinations of securities having payoffs correlated with, but not dependent on, the firms output is equal to the number of degrees of freedom in the firm's production technology.

Women, careers and information technology: An introduction

This special issue revisits the relationship between women, work and technology, focusing specifically on gender equity in information technology (IT) employment. Along with theoretical contestation over the broader relationship between gender and technology, arguments about the prospects for women in IT employment have ranged from optimistic to pessimistic extremes. On the one hand, optimists have envisaged a more gender-egalitarian workforce based on new occupations lacking traditional gender markers, and 'young' firms offering positive flexibilities and equal employment opportunity protections. On the other hand, pessimists anticipate that ongoing male dominance over tedmology and competitive pressures in the IT sector will ensure that the most prestigious and highly rewarded jobs remain concentrated in male hands, even as teclmologies and jobs are themselves transformed.

Design for Inspiration: Children, personal connections and educational technology

The project is working towards building an understanding of the personal interests and experiences of children with the aim of designing appropriate, usable and, most importantly, inspirational educational technology. kidprobe, an adaptation of the technology probe concept, has been used as a lightweight method of gaining contextual information about children's interactions with 'fun' technology. kidprobe has produced design inspiration which focuses primarily on the social and emotional connections children made. The use of kidprobe has generated some important ideas for improving the use of probes with children. It is an important first step in understanding how to effectively adapt probing techniques to inspire the design of technology for children.