Directed search with real options

While search is normally modelled by economists purely in terms of decisions over making observations, this paper models it as a process in which information is gained through feedback from innovatory product launches. The information gained can then be used to decide whether to exercise real options. In the model the initial decisions involve a product design and the scale of production capacity. There are then real options to change these factors based on what is learned. The case of launching product variants in parallel is also considered. Under ‘true’ uncertainty, the model can be seen in terms of heuristic decision-making based on subjective beliefs with limited foresight. Search costs, the values of the real options, beliefs, and the cost of capital are all shown to be significant in determining the search path.

IT implementation in the construction organization

Organizational issues are inhibiting the implementation and strategic use of information technologies (IT) in the construction sector. This paper focuses on these issues and explores processes by which emerging technologies can be introduced into construction organizations. The paper is based on a case study, conducted in a major house building company that was implementing a virtual reality (VR) system for internal design review in the regional offices. Interviews were conducted with different members of the organization to explore the introduction process and the use of the system. The case study findings provide insight into the process of change, the constraints that inhibit IT implementation and the relationship between new technology and work patterns within construction organizations. They suggest that (1) user-developer communications are critical for the successful implementation of non-diffused innovations in the construction industry; and (2) successful uptake of IT requires both strategic decision-making by top management and decision-making by technical managers.

Implementation of VR systems: a comparison between the early adoption of CAD and current uptake of VR

Use of new technologies, such as virtual reality (VR), is important to corporations, yet understanding of their successful implementation is insuf. ciently developed. In this paper a case study is used to analyse the introduction of VR use in a British housebuilding company. Although the implementation was not successful in the manner initially anticipated, the study provides insight into the process of change, the constraints that inhibit implementation and the relationship between new technology and work organization. Comparison is made with the early use of CAD and similarities and differences between empirical . ndings of the case study and the previous literature are discussed.

From CAD to virtual reality: modelling approaches, data exchange and interactive 3D building design tools

Virtual reality has the potential to improve visualisation of building design and construction, but its implementation in the industry has yet to reach maturity. Present day translation of building data to virtual reality is often unidirectional and unsatisfactory. Three different approaches to the creation of models are identified and described in this paper. Consideration is given to the potential of both advances in computer-aided design and the emerging standards for data exchange to facilitate an integrated use of virtual reality. Commonalities and differences between computer-aided design and virtual reality packages are reviewed, and trials of current system, are described. The trials have been conducted to explore the technical issues related to the integrated use of CAD and virtual environments within the house building sector of the construction industry and to investigate the practical use of the new technology.

Coming to grips with 'abandoned arable' land in efforts to enhance communal grazing systems in the Eastern Cape province, South Africa

The communal lands of the Eastern Cape have been regarded as both tools and problems by policy-makers. In particular, communal lands are problematised as environmentally degraded, of suboptimum productivity and constraining economic development. The Eastern Cape Communal Lands Research Project was framed within this policy discourse with the aim of introducing legume-based pasture into ‘abandoned arable lands’. Initial results from community workshops show that the institutional arrangements for these arable lands vary widely and, with them, the capacity to utilise any new technology that may have application to them. Rather than simply draw on social capital, if a participatory research approach is to enhance the agency of the participating communites, it may need to contribute to social capital building and especially to create a dialogical space in which the matters being researched can be discussed meaningfully.

Reworking the NAFTA: departures from traditional frameworks

This paper reviews the treatment of intellectual property rights in the North American Free Trade Agreement (NAFTA) and considers the welfare-theoretic bases for innovation transfer between member and nonmember states. Specifically, we consider the effects of new technology development from within the union and question whether it is efficient (in a welfare sense) to transfer that new technology to nonmember states. When the new technology contains stochastic components, the important issue of information exchange arises and we consider this question in a simple oligopoly model with Bayesian updating. In this context, it is natural to ask the optimal price at which such information should be transferred. Some simple, natural conjugate examples are used to motivate the key parameters upon which the answer is dependent

Automatic control of food manufacturing processes. 2nd edition

In the ten years since the first edition of this book appeared there have been significant developments in food process engineering, notably in biotechnology and membrane application. Advances have been made in the use of sensors for process control, and the growth of information technology and on-line computer applications continues apace. In addition, plant investment decisions are increasingly determined by quality assurance considerations and have to incorporate a greater emphasis on health and safety issues. The content of this edition has been rearranged to include descriptions of recent developments and to reflect the influence of new technology on the control and operations of automated plant. Original examples have been retained where relevant and these, together with many new illustrations, provide a comprehensive guide to good practice.

Building the web: the Internet and the property profession

The report examines the development of the Internet and Intranets in the world of business and commerce, drawing on previous literature and research. The new technology is explained, and key issues examined, such as the impact of the Internet on the surveyor's role as 'information broker' and its likely effect on clients' property requirements. The research is based on an analysis of 261 postal questionnaire responses and eight case study interviews from a sample of general practice and quantity surveying practices and corporates. For the first time the property profession is examined in detail and the key drivers, barriers and benefits of Internet use are identified for a range of different sized organisations.

Genetical and comparative genomics of Brassica under altered Ca supply identifies Arabidopsis Ca-transporter orthologs

Although Ca transport in plants is highly complex, the overexpression of vacuolar Ca2+ transporters in crops is a promising new technology to improve dietary Ca supplies through biofortification. Here, we sought to identify novel targets for increasing plant Ca accumulation using genetical and comparative genomics. Expression quantitative trait locus (eQTL) mapping to 1895 cis- and 8015 trans-loci were identified in shoots of an inbred mapping population of Brassica rapa (IMB211 × R500); 23 cis- and 948 trans-eQTLs responded specifically to altered Ca supply. eQTLs were screened for functional significance using a large database of shoot Ca concentration phenotypes of Arabidopsis thaliana. From 31 Arabidopsis gene identifiers tagged to robust shoot Ca concentration phenotypes, 21 mapped to 27 B. rapa eQTLs, including orthologs of the Ca2+ transporters At-CAX1 and At-ACA8. Two of three independent missense mutants of BraA.cax1a, isolated previously by targeting induced local lesions in genomes, have allele-specific shoot Ca concentration phenotypes compared with their segregating wild types. BraA.CAX1a is a promising target for altering the Ca composition of Brassica, consistent with prior knowledge from Arabidopsis. We conclude that multiple-environment eQTL analysis of complex crop genomes combined with comparative genomics is a powerful technique for novel gene identification/prioritization.

'Mental mobility’ in the digital age: entrepreneurs and the online home-based business

Home-based online business ventures are an increasingly pervasive yet under-researched phenomenon. The experiences and mindset of entrepreneurs setting up and running such enterprises require better understanding. Using data from a qualitative study of 23 online home-based business entrepreneurs, we propose the augmented concept of ‘mental mobility’ to encapsulate how they approach their business activities. Drawing on Howard P. Becker's early theorising of mobility, together with Victor Turner's later notion of liminality, we conceptualise mental mobility as the process through which individuals navigate the liminal spaces between the physical and digital spheres of work and the overlapping home/workplace, enabling them to manipulate and partially reconcile the spatial, temporal and emotional tensions that are present in such work environments. Our research also holds important applications for alternative employment contexts and broader social orderings because of the increasingly pervasive and disruptive influence of technology on experiences of remunerated work.

Do laws influence the cost of real estate brokerage services? A state fixed effects approach

A FTC-DOJ study argues that state laws and regulations may inhibit the unbundling of real estate brokerage services in response to new technology. Our data show that 18 states have changed laws in ways that promote unbundling since 2000. We model brokerage costs as measured by number of agents in a state-level annual panel vector autoregressive framework, a novel way of analyzing wasteful competition. Our findings support a positive relationship between brokerage costs and lagged house price and transactions. We find that change in full-service brokers responds negatively (by well over two percentage points per year) to legal changes facilitating unbundling

On identity reformation and local transition: a case from Poland

Purpose – The purpose of this paper is to explore and understand the process of successful introduction of total quality management (TQM) in Poland and the way in which it impacted on identity of Polish managers. Design/methodology/approach – The study is based on a combination of ethnographic research and repertory grid interviews. Findings – The process of TQM introduction and implementation is examined through the application of translation as a model incorporating cultural and socio-economical dimensions in addition to individual and organizational levels that shaped the development of TQM in Poland. It then draws on the idea of fantasy as theorized in Lacanian psychoanalysis in order to incorporate the unconscious element of translation process which is missing from Latour’s theorization and which forms an important aspect of adoption of new technology and the emergence of a new post-transition generation of managers in Poland. The paper argues that a complex combination of contextual factors, amongst them the notion of fantasy shaped the process of translation of TQM to Poland, the identity formation of Polish managers and to the emergence of a new post-transition generation of managers in Poland. Originality/value – This paper contributes to the literature on the post-command transition by illustrating this process through the fantasy of total quality management explored in a specific socio-cultural and geographical context and by combining the idea of Latour’s translation with Lacanian fantasy.

Exploiting existing ground-based remote sensing networks to improve high-resolution weather forecasts

A new generation of high-resolution (1 km) forecast models promises to revolutionize the prediction of hazardous weather such as windstorms, flash floods, and poor air quality. To realize this promise, a dense observing network, focusing on the lower few kilometers of the atmosphere, is required to verify these new forecast models with the ultimate goal of assimilating the data. At present there are insufficient systematic observations of the vertical profiles of water vapor, temperature, wind, and aerosols; a major constraint is the absence of funding to install new networks. A recent research program financed by the European Union, tasked with addressing this lack of observations, demonstrated that the assimilation of observations from an existing wind profiler network reduces forecast errors, provided that the individual instruments are strategically located and properly maintained. Additionally, it identified three further existing European networks of instruments that are currently underexploited, but with minimal expense they could deliver quality-controlled data to national weather services in near–real time, so the data could be assimilated into forecast models. Specifically, 1) several hundred automatic lidars and ceilometers can provide backscatter profiles associated with aerosol and cloud properties and structures with 30-m vertical resolution every minute; 2) more than 20 Doppler lidars, a fairly new technology, can measure vertical and horizontal winds in the lower atmosphere with a vertical resolution of 30 m every 5 min; and 3) about 30 microwave profilers can estimate profiles of temperature and humidity in the lower few kilometers every 10 min. Examples of potential benefits from these instruments are presented.