Rationality and momentum in real estate investment forecasts

This study examines the rationality and momentum in forecasts for rental, capital value and total returns for the real estate investment market in the United Kingdom. In order to investigate if forecasters are affected by the general economic conditions present at the time of forecast we incorporate into the analysis Gross Domestic Product(GDP) and the Default Spread (DS). The empirical findings show high levels of momentum in the forecasts, with highly persistent forecast errors. The results also indicate that forecasters are affected by adverse conditions. This is consistent with the finding that they tend to exhibit greater forecast error when the property market is underperforming and vice-versa.

Rationality of service composition of Workflow Net in a service oriented architecture

Users’ requirements change drives an information system evolution. Consequently, such evolution affects those atomic services which provide functional operations from one state of their composition to another state of composition. A challenging issue associated with such evolution of the state of service composition is to ensure a resultant service composition remaining rational. This paper presents a method of Service Composition Atomic-Operation Set (SCAOS). SCAOS defines 2 classes of atomic operations and 13 kinds of basic service compositions to aid a state change process by using Workflow Net. The workflow net has algorithmic capabilities to compose the required services with rationality and maintain any changes to the services in a different composition also rational. This method can improve the adaptability to the ever changing business requirements of information systems in the dynamic environment.

Rationality in system dynamics

Special Issue: Selected Papers from the First European System Dynamics Workshop, Mannheim University

'In Charge of the Truffula Seeds' : On Children's Literature, Rationality and Children's Voices in Philosophy

In this paper I investigate how philosophy can speak for children and how children can have a voice in philosophy and speak for philosophy. I argue that we should understand children as responsible rational individuals who are involved in their own philosophical inquiries and who can be involved in our own philosophical investigations-not because of their rational abilities, but because we acknowledge them as conversational partners, acknowledge their reasons as reasons, and speak for them as well as let them speak for us and our rational community. In order to argue this I turn, first, to Gareth Matthews' philosophy of childhood and suggest a reconstruction of some of his concepts in line with the philosophy of Stanley Cavell. Second, in order to examine more closely our conceptions of rationality and our pictures of children, I consider the children's books, The Lorax and Where is My Sister? and Henrik Ibsen's play, The Wild Duck.

Technical rationality and professional artistry in RD practice

This paper outlines the limitations of a technical rationalist approach to HRD practice without seeking to negate it. It then offers a complementary view based on Schon's notion of the reflective practitioner which exhorts HRD practitioners to embrace complexity and reflection. We outline, first, a number of dimensions of diversity which confer complexity upon HRD practice, and, second, a series of suggested questions that may aid the framing of practical problems in a more effective way than might be the case with a purely technical rationalist approach. We urge novice (and expert) HRD practitioners to adopt a mind set that is contemplative of the diversities that they may encounter in practice and which is conjectural with regard to how these diversities may impact upon problems and their solutions.

On the pathogenicity of culture : questioning the rationality of "development" programs for perpetually dysfunctional aboriginal groups

All Australian Aborigines have experienced the impact of Western culture to some extent which has resulted in the traditional cultures being irrevocably decimated. The reaction to the disintegration of traditional culture has been marked by a variety of outcomes. While some Aborigines have either accepted or reached a level of accommodation to the new order, others have responded in maladaptive ways. For some Aborigines, the disintegration of traditional culture and society has generated conflict, confusion and the disintegration of personality, which is conducive to the evolution of a dysfunctional group. It is the circumstances of and policy responses to dysfunctional Aboriginal groups, therefore, that is the concern of this article.

Critical intellectual resources for praxis in physical education teacher education : the limits to rationality

This study focuses on the way four student-teachers engage with critical social discourses in a year-long physical education unit. The student-teachers were encouraged to examine and (re)construct their pedagogy through their interactions with critical discourses. Drawing on their personal theories and actions, the study examines the extent to which critical intellectual resources can provide pedagogical frames of reference that are 'practical and non-ideal'. Using a critical ethnographic methodology the students' interactions with critical social discourses are diagnosed across three levels. The first level is the case study presentations of each student's engagement with the critical intellectual resources and the extent to which they were able to understand and implement them. The second level involves an interpretation of the individual cases that is informed by Brian Fay's (1987) metatheoretical reconstruction of the critical social sciences. In the third stage of diagnosis the study focuses on retheorising critical aspirations for praxis pedagogy in physical education. Critical scholars within the physical education arena argue that critical praxis represents a pedagogy based on a 'world view' of the potential for agents to engage in a rational reordering of their qualitative existence. The essence of their claim is that critical discourses have the potential to facilitate a mode of praxis through which physical education teachers might better recognise, understand, critique and transform their values and practices. However, there is broad recognition that the translation of social-critical discourses into a pedagogic context is highly problematic. Interpretation of the study is provided by Fay's (1987) 'limits to change' thesis which recognises that critical aspirations must ultimately be adopted and implemented by real people in real settings. As a diagnostic frame of reference, Fay insists that a 'complete' critical theory [of physical education] be simultaneously scientific, critical, practical and non-ideal. In seeking to temper the "e; over-rationalistic"e; tendency of the critical project he recognises the historical, embedded, embodied and traditional nature of human existence Criticisms of critical theories of education traverse a number of philosophic perspectives. Recent post-structural criticisms of truth regimes, knowledge-power differentials, rationality and agency have seriously destabilised modernist justifications of the critical agenda. Critical theories of physical education have not been absolved of such criticism. A prominent element of this study is its promotion of a dialectical relationship between agency and structure to extend critical conceptualisations of physical education pedagogy. Through the mediation of structural determinism and self-determination this research proffers a means of practically advancing a critical praxis in physical education. The conclusion of this thesis outlines some broad recommendations pertaining to the introduction of social critical discourses in physical education teacher education.

Rationality of power and the Australian CACPs program

Presents an analytical study of the development and implementation of the Australian Community Aged Care Packages Program. Undertaken from a critical perspective, it also critiques the role of power in shaping and legitimising what is to be counted as "rational" within social policy-making in present liberal democracies.

Weakest collective rationality and the Nash bargaining solution

We propose a new axiom, weakest collective rationality (WCR) which is weaker than both weak Pareto optimality (WPO) in Nash’s (Econometrica 18:155–162, 1950) original characterization and strong individual rationality (SIR) in Roth’s (Math Oper Res 2:64–65, 1977) characterization of the Nash bargaining solution. We then characterize the Nash solution by symmetry (SYM), scale invariance (SI), independence of irrelevant alternatives (IIA) and our weakest collective rationality (WCR) axiom.