‘God’s Truth’: Kant, Mill and moral epistemology in Oliver Twist

This essay aims to demonstrate how Dickens’s search for ‘truth’ (and his understanding of what that abstraction consists of) entered into and emerged from one of the key philosophical discussions of the early nineteenth century: namely whether moral knowledge is the sum of one’s experiences or whether there are such things as a priori or ‘natural’ principles of ethics that transcend human practice.

High value information in engineering organisations

The management of information in engineering organisations is facing a particular challenge in the ever-increasing volume of information. It has been recognised that an effective methodology is required to evaluate information in order to avoid information overload and to retain the right information for reuse. By using, as a starting point, a number of the current tools and techniques which attempt to obtain ‘the value’ of information, it is proposed that an assessment or filter mechanism for information is needed to be developed. This paper addresses this issue firstly by briefly reviewing the information overload problem, the definition of value, and related research work on the value of information in various areas. Then a “characteristic” based framework of information evaluation is introduced using the key characteristics identified from related work as an example. A Bayesian Network diagram method is introduced to the framework to build the linkage between the characteristics and information value in order to quantitatively calculate the quality and value of information. The training and verification process for the model is then described using 60 real engineering documents as a sample. The model gives a reasonable accurate result and the differences between the model calculation and training judgements are summarised as the potential causes are discussed. Finally, several further issues including the challenge of the framework and the implementations of this evaluation assessment method are raised.

The implications of service-dominant logic and integrated solutions on the sales function

This study explores the implications of an organization moving toward service-dominant logic (S-D logic) on the sales function. Driven by its customers’ needs, a service orientation by its nature requires personal interaction and sales personnel are in an ideal position to develop offerings with the customer. However, the development of S-D logic may require sales staff to develop additional skills. Employing a single case study, the study identified that sales personnel are quick to appreciate the advantages of S-D logic for customer satisfaction and six specific skills were highlighted and explored. Further, three propositions were identified: in an organization adopting S-D logic, the sales process needs to elicit needs at both embedded-value and value-in-use levels. In addition, the sales process needs to coproduce not just goods and service attributes but also attributes of the customer’s usage processes. Further, the sales process needs to coproduce not just goods and service attributes but also attributes of the customer’s usage processes.

Prospects and challenges for sustainable management of the mango stone weevil, Sternochetus mangiferae (F.) (Coleoptera: Curculionidae) in West Africa: a review

Commercial mango production in Ghana is a relatively young industry faced with several pest problems including the mango stone weevil, Sternochetus mangiferae (F.). There is an urgent need to control this and other pests to facilitate access to the international export market for fresh mango fruits. A literature survey identifies stone weevil control tactics in the areas of host plant resistance, administrative and legislative controls, use of pesticides, biological control, cultural control and quarantine and phytosanitary measures that have been developed in other mango-producing areas. We assess these pest management approaches for their relevance to Ghana and West Africa, with emphasis on the research required for their appropriate, effective and sustainable use in the systems of mango production of the West African sub-region. The importance of processing and value addition technologies, as a means of circumventing the quarantine hurdles of S. mangiferae, is highlighted.

Depreciation, income distribution and the UK REIT

Purpose – The purpose of this paper is to consider prospects for UK REITs, which were introduced on 1 January 2007. It specifically focuses on the potential influence of depreciation and expenditure on income and distributions. Design/methodology/approach – First, the ways in which depreciation can affect vehicle earnings and value are discussed. This is then set in the context of the specific rules and features of REITs. An analysis using property income and expenditure data from the Investment Property Databank (IPD) then assesses what gross and net income for a UK REIT might have been like for the period 1984-2003. Findings – A UK REIT must distribute at least 90 per cent of net income from its property rental business. Expenditure therefore plays a significant part in determining what funds remain for distribution. Over 1984-2003, expenditure has absorbed 20 per cent of gross income and been a source of earnings volatility, which would have been exacerbated by gearing. Practical implications – Expenditure must take place to help UK REITs maintain and renew their real estate portfolios. In view of this, investors should moderate expectations of a high and stable income return, although it may well still be so relative to alternative investments. Originality/value – Previous literature on depreciation has not quantified amounts spent on portfolios to keep depreciation at those rates. Nor, to our knowledge, has its ideas been placed in the indirect investor context.

Making the least active pay: a simulation of rewards and penalties under Demand Side Participation programs

The orthodox approach for incentivising Demand Side Participation (DSP) programs is that utility losses from capital, installation and planning costs should be recovered under financial incentive mechanisms which aim to ensure that utilities have the right incentives to implement DSP activities. The recent national smart metering roll-out in the UK implies that this approach needs to be reassessed since utilities will recover the capital costs associated with DSP technology through bills. This paper introduces a reward and penalty mechanism focusing on residential users. DSP planning costs are recovered through payments from those consumers who do not react to peak signals. Those consumers who do react are rewarded by paying lower bills. Because real-time incentives to residential consumers tend to fail due to the negligible amounts associated with net gains (and losses) or individual users, in the proposed mechanism the regulator determines benchmarks which are matched against responses to signals and caps the level of rewards/penalties to avoid market distortions. The paper presents an overview of existing financial incentive mechanisms for DSP; introduces the reward/penalty mechanism aimed at fostering DSP under the hypothesis of smart metering roll-out; considers the costs faced by utilities for DSP programs; assesses linear rate effects and value changes; introduces compensatory weights for those consumers who have physical or financial impediments; and shows findings based on simulation runs on three discrete levels of elasticity.

Benchmark datasets for detection and tracking

There is a rising demand for the quantitative performance evaluation of automated video surveillance. To advance research in this area, it is essential that comparisons in detection and tracking approaches may be drawn and improvements in existing methods can be measured. There are a number of challenges related to the proper evaluation of motion segmentation, tracking, event recognition, and other components of a video surveillance system that are unique to the video surveillance community. These include the volume of data that must be evaluated, the difficulty in obtaining ground truth data, the definition of appropriate metrics, and achieving meaningful comparison of diverse systems. This chapter provides descriptions of useful benchmark datasets and their availability to the computer vision community. It outlines some ground truth and evaluation techniques, and provides links to useful resources. It concludes by discussing the future direction for benchmark datasets and their associated processes.

Portfolio size and the reduction of dispersion: the case of the United Kingdom commercial real estate market

This paper investigates the potential benefits and limitations of equal and value-weighted diversification using as the example the UK institutional property market. To achieve this it uses the largest sample (392) of actual property returns that is currently available, over the period 1981 to 1996. To evaluate these issues two approaches are adopted; first, an analysis of the correlations within the sectors and regions and secondly simulations of property portfolios of increasing size constructed both naively and with value-weighting. Using these methods it is shown that the extent of possible risk reduction is limited because of the high positive correlations between assets in any portfolio, even when naively diversified. It is also shown that portfolios exhibit high levels of variability around the average risk, suggesting that previous work seriously understates the number of properties needed to achieve a satisfactory level of diversification. The results have implications for the development and maintenance of a property portfolio because they indicate that the achievable level of risk reduction depends upon the availability of assets, the weighting system used and the investor’s risk tolerance.

Participative modelling and big issues: defining features of system dynamics?

In this article the author discusses participative modelling in system dynamics and issues underlying it. It states that in the heart of system dynamics is the servo-mechanism theory. It argues that it is wrong to see an optimal solution being applied by the empowered parties just because it exhibits self-evident truth and an analysis is not enough to encourage people to do things in different way. It mentions other models including the simulation models used for developing strategy discussions.

The Life of Galileo and Brechtian television drama

Bertolt Brecht's dramaturgy was as influential upon the development of British drama on television between the 1950s and the 1970s as it was in the theatre. His influence was made manifest through the work of writers, directors and producers such as Tony Garnett, Ken Loach, John McGrath and Dennis Potter, whose attempts to create original Brechtian forms of television drama were reflected in the frequent reference to Brecht in contemporary debate concerning the political and aesthetic direction and value of television drama. While this discussion has been framed thus far around how Brechtian techniques and theory were applied to the newer media of television, this article examines these arguments from another perspective. Through detailed analysis of a 1964 BBC production of The Life of Galileo, I assess how the primary, canonical sources of Brecht's stage plays were realised on television during this period, locating Brecht's drama in the wider context of British television drama in general during the 1960s and 1970s. I pay particular attention to the use of the television studio as a site that could replicate or reinvent the theatrical space of the stage, and the responsiveness of the television audience towards Brechtian dramaturgy.

On the measurement of achievement goals: critique, illustration, and application

The authors identified several specific problems with the measurement of achievement goals in the current literature and illustrated these problems, focusing primarily on A. J. Elliot and H. A. McGregor's (2001) Achievement Goal Questionnaire (AGQ). They attended to these problems by creating the AGQ-Revised and conducting a study that examined the measure's structural validity and predictive utility with 229 (76 male, 150 female, 3 unspecified) undergraduates. The hypothesized factor and dimensional structures of the measure were confirmed and shown to be superior to a host of alternatives. The predictions were nearly uniformly supported with regard to both the antecedents (need for achievement and fear of failure) and consequences (intrinsic motivation and exam performance) of the 4 achievement goals. In discussing their work, the authors highlight the importance and value of additional precision in the area of achievement goal measurement. (PsycINFO Database Record (c) 2012 APA, all rights reserved)(journal abstract)

Idiosyncratic volatility and the pricing of poorly-diversified portfolios

This article examines the role of idiosyncratic volatility in explaining the cross-sectional variation of size- and value-sorted portfolio returns. We show that the premium for bearing idiosyncratic volatility varies inversely with the number of stocks included in the portfolios. This conclusion is robust within various multifactor models based on size, value, past performance, liquidity and total volatility and also holds within an ICAPM specification of the risk–return relationship. Our findings thus indicate that investors demand an additional return for bearing the idiosyncratic volatility of poorly-diversified portfolios.

Speculative bubbles and the cross-sectional variation in stock returns

Evidence suggests that rational, periodically collapsing speculative bubbles may be pervasive in stock markets globally, but there is no research that considers them at the individual stock level. In this study we develop and test an empirical asset pricing model that allows for speculative bubbles to affect stock returns. We show that stocks incorporating larger bubbles yield higher returns. The bubble deviation, at the stock level as opposed to the industry or market level, is a priced source of risk that is separate from the standard market risk, size and value factors. We demonstrate that much of the common variation in stock returns that can be attributable to market risk is due to the co-movement of bubbles rather than being driven by fundamentals.

Speech acts, responsibility and commitment in poetry

Philosophy has tended to regard poetry primarily in terms of truth and falsity, assuming that its business is to state or describe states of affairs. Speech act theory transforms philosophical debate by regarding poetry in terms of action, showing that its business is primarily to do things. The proposal can sharpen our understanding of types of poetry; examples of the ‘Chaucer-Type’ and its variants demonstrate this. Objections to the proposal can be divided into those that relate to the agent of actions associated with a poem, those that relate to the actions themselves, and those that relate to the things done. These objections can be answered. A significant consequence of the proposal is that it gives prominence to issues of responsibility and commitment. This prominence brings philosophical debate usefully into line with contemporary poetry, whose concern with such issues is manifest in characteristic forms of anxiety.

Effect of temperature and strain rate on the compressive behaviour of supramolecular polyurethane

Supramolecular polyurethanes (SPUs) possess thermoresponsive and thermoreversible properties, and those characteristics are highly desirable in both bulk commodity and value-added applications such as adhesives, shape-memory materials, healable coatings and lightweight, impact-resistant structures (e.g. protection for mobile electronics). A better understanding of the mechanical properties, especially the rate and temperature sensitivity, of these materials are required to assess their suitability for different applications. In this paper, a newly developed SPU with tuneable thermal properties was studied, and the response of this SPU to compressive loading over strain rates from 10−3 to 104 s−1 was presented. Furthermore, the effect of temperature on the mechanical response was also demonstrated. The sample was tested using an Instron mechanical testing machine for quasi-static loading, a home-made hydraulic system for moderate rates and a traditional split Hopkinson pressure bars (SHPBs) for high strain rates. Results showed that the compression stress-strain behaviour was affected significantly by the thermoresponsive nature of SPU, but that, as expected for polymeric materials, the general trends of the temperature and the rate dependence mirror each other. However, this behaviour is more complicated than observed for many other polymeric materials, as a result of the richer range of transitions that influence the behaviour over the range of temperatures and strain rates tested.