Recreational value of Southern Bluefin Tuna fishing

Southern bluefin tuna (Thunnus Maccoyii) is a global resource, which is critically endangered. The Committee for the Conservation of Southern Bluefin Tuna sets commercial quota levels for member nations, including Australia, each year. However, southern bluefin tuna is also a popular “trophy” fish with recreational anglers. The size of the total recreational catch, which is not included in the quota, is unknown but thought to be significant. This paper reports the findings of a study designed to estimate the recreational value of the non-commercial southern bluefin tuna catch at Portland, in southwest Victoria. The results indicate that the size of the recreational catch at Portland is considerable and therefore significant in terms of the management of the fishery. Furthermore, the non-market recreational values associated with the fishery are substantial with the on-site recreational use value (consumer surplus) per person per visit estimated to be between $33 and $132 and the on-site annual recreational use value of the fishery for one season is estimated to be between $449,533 and $1,325,124.

The Pharmaceutical Industry and Access to Medicines in India

Pharmaceutical policy in India as elsewhere is shaped by conflicting economic and social interests and opposing values and priorities. Tensions can be understood as revolving around the contradiction between use value and exchange value in the production of medicinal drugs as commodities, as per Marx’s original analysis. The use value of medicines – if safe and efficacious, of good quality, and prescribed and consumed appropriately – is the prevention, cure or alleviation of ill-health and disease. Health policy is – or should be – aimed at optimising the use value of medicines. For this purpose government agencies administer regulatory oversight of the manufacturing, marketing and distribution of medicines. Drugs made available to patients are expected to meet adequate safety, quality and efficacy standards, but regulation to ensure such standards is subject to controversy in most countries. This is a domain where definition and interpretation of scientific-technological principles and criteria is infused by partiality and bias grounded in social and material interests, as evidenced by recurrent debates about industry ‘capture’ of regulatory agencies, including the world’s most regulator, the US Food and Drug Administration (Angell 2005; Law 2006). In India, a Parliamentary Committee Report in 2012 depicted the Central Drugs Standard Control Organisation (CDSCO) as dysfunctional and influenced inappropriately by the exchange value perspective of manufacturers (Parliamentary Standing Committee on Health and Welfare 2012). The clash between use and exchange value perspectives is starkly illustrated by cases of products known to cause more harm than good, particularly common in poorly regulated markets such as India’s, as shown by Srinivasan & Phadke.

Student Dis/satisfaction and Academic Dis/enchantment with Edu-capitalism

Over three decades there has been a shift from ideologies of idealism and educationalism towards instrumentalism in higher education due to the global circulation of neoliberal ideologies. Facilitated by digital technologies and encouraged by international ranking systems, there is a paradoxical trend towards homogenisation rather than heterogeneity in terms of what counts as valued knowledge, producing tensions in national policies, institutional responses and academic work in Australia as elsewhere. The paper identifies the implications of trends driving universities towards entrepreneurialism, hyper-instrumentalism, continual rebranding in their search for distinctiveness in global markets, restructuring towards specialisation, focusing on immediate use-value of research, vocationalising teaching, demand driven curriculum that makes students happy, and the disaggregation of curriculum underpinning new multimodal forms of online learning / management technologies.

The new wilderness: A practice-led model for arts based enquiry

The New Wilderness is a practice-led, multidisciplinary arts project first piloted by artists, writers, teachers and academics from Geelong, Deakin University and Courthouse ARTS Centre in 2013. In a series of workshops run by artists, and working to specific themes, the project provided a platform for participants to explore and respond creatively to change in the community; it culminated in a large-scale installation at Courthouse ARTS Centre’s main gallery. Our paper positions the project as a able to cut across convention, empowering young artists to respond to ‘big questions’ of relevance to the changing material, spatial and social relations within their communities. In questioning and seeking to transform communities into sustainable media, economic, environmental and social ecologies, this emergent model begins with a localised focus, which is designed to travel across time and place, and pedagogical frameworks. The paper positions Geelong as a community under radical transformation in its economic foundations and demographics. As artists and academics living and working in the region we see it as an experimental ground for investigations into a series of provocations that mirror the shape of the paper we intend to give. The provocations, as outlined in the workshops, might also be envisaged as new relations to:Object – From consumable to unusable to play. In revisiting the first iteration of The New wilderness in 2013 we discuss the ‘superfictional’ (Hill, 2000) enquiry that participants were asked to engage with. Its premise described Geelong as an abandoned, post-apocalyptic site. Participants were asked to imagine themselves as a group of future explorers and excavate objects from the city’s old tip. In unearthing their choices and re-presenting the objects in the gallery the participant was prompted to analyse site, situation, object and process as phenomena for ‘being’ or ‘telling stories’, providing insights into wider realms of cultural experience (Ellis, Adams and Bochner, 2010). Parallel to this ‘autoethnographic’ reflection our paper uses the philosopher Giorgio Agamben’s analysis of consumer and material culture. He traces the subject’s relation to objects from use-value, to exchange-value and in the era of extreme capitalism, to pure exhibition-value. He searches for ways that the objects produced in our material culture can be ‘profaned’ (Agamben, 2007). Space – From the material to the spatial to the situation. We are interested in how objects and the practices they elicit can be ‘profaned’ by their situation (Agamben, 2007; Wark, 2103). To profane, according to Agamben, is to open up the possibility that the object loses its exhibition-value to ‘a special form of negligence’ (Agamben). He uses the example of the child’s ability to insinuate any object into a new logic of play (Agamben). Like the objects excavated for The New Wilderness they could be from a variety of spheres – business, household, industry, health etc… The child, like the artist, reconstitutes, reorders and assembles new relations between things. In reflecting on the first New Wilderness project the paper correlates the creative response of the participant (student, child, artist) with the occupier. The Occupy Movement, which took up residence in many of the world’s cities’ financial districts in 2011, used a number of strategies commensurate with both Agamben’s notion of profanation and McKenzie Wark’s reading of the Situationist International’s use of détournement - as a strategy that releases objects and subjects back into the field of play (Wark, 2013). The field was taken by the occupy movement to be the space in which they occupied – capitalism, its logic and its practices, were, for a short time, redundant in the occupied field. The New Wilderness conceptualises the city as a localised field, from which its discarded objects can be ‘profaned’ or, repurposed, to reflect on shared histories, responsibilities, pedagogies and future action. Subject: self/other– As much as we propose New Wilderness to be a pedagogical initiative we see it as personal, critical and political. In the themed workshops, designed to elicit personal responses to the object and the site, which culminated in a multi-disciplinary installation, performance and/or text based work, participants were encouraged to think critically, and importantly, collectively. Through the four workshops run in the first iteration of the project participants were asked to re-consider their material value-systems, much as the occupy movement was trying to do, and like the occupiers, participants were empowered to be agents of change. Our paper reflects on the practical outcomes and the conceptual, political and pedagogical strategies embedded in The New Wilderness project. The paper affords us the additional opportunity to imagine a life for it in other geographical, socio-economic and educational situations. Merinda Kelly and Cameron Bishop, 2013Bio: Merinda Kelly is a sculptor and installation artist, educator and PhD student at Deakin University. Her research interests include Visual Culture, Practice Led Research, the Ontology of Art, and Autoethnography. Her most recent work includes the Pop Archaeology' and the Globo-Touro Projects.Bio: Dr Cameron Bishop is an artist and academic working in Visual Arts at Deakin University. He exhibits regularly and has written a number of journal articles and book chapters. His research has focused on the philosophical and postcolonial dimensions of space and subjectivity and more recently has evolved into an active interest in strategic interventions into space and practice.

Effects of subjective evaluation for weekday time use onto time allocation and value of activity time on weekends

This study has formulated a behavioral model of individual activity time allocation on weekends, and has extended it to incorporate the latent determinants of time use decisions during weekdays by using a latent variable model. The ultimate goals in developing this model are to improve the individual weekend activity time allocation model by introducing latent variables, and to estimate the value of activity time of different activity types. We conducted a pilot empirical investigation using a small data set regarding time use and expenditure both for weekdays and weekends, and a few indicators of the latent variables collected from individuals in Yokohama, Japan. The empirical findings suggest that the proposed model is valuable not only for modeling activity time allocation, but also in calculating the value of activity time.

The use of a nursing informatics system as an exemplar to investigate business value of IT in healthcare

Researchers and decision makers in healthcare are taking great interest in clinical practices where there is a high potential to improve healthcare outcomes and reduce costs by incorporating a myriad of technology solutions. However, to date very few, if any of these IS/IT (information systems/information technology) solutions have realised the expected improvements to quality care with the expected cost reductions. This makes the need to evaluate the impact of IT on overall performance of clinical practices i.e. business value of IT a key strategic imperative in healthcare. To address this key need, we propose a comprehensive framework that conceptualises business value of IT in healthcare in different layers. To illustrate the proposed framework, a case study is used, which serves to examine the proposed conceptual model. The exemplar case study is an Australian-made nursing documentation system; an enterprise system that caters for multiple clinical users in acute healthcare contexts and hence provides appropriate richness to validate the proposed model.

Home-range use by the brush-tailed phascogale (phascogale tapoatafa) (marsupialia) in High-quality, spatially limited habitat

Nine phascogales (7 females, 2 males) were radio-tracked between March and July 1999 to investigate the spatial organisation of this species in spatially limited habitat near Euroa, Victoria. In this area, approximately 3.6% of the original woodland vegetation remains after 150 years of agricultural clearing. Most wooded habitat is confined to narrow linear strips along roads and streams. However, these remnants are on fertile soils and, because they have not experienced intensive harvesting, the density of large old trees is over 10 times that found in nearby State Forests and Parks. Female phascogales were monitored for 13–38 days over periods of 5–15 weeks. The size of home ranges of females was 2.3–8.0 ha, and averaged 5.0 ha. This value is one-eighth the mean home-range size previously recorded for the species in contiguous forest in Victoria. All individuals used multiple nest trees, with nests generally located in trees >80 cm diameter at breast height. Although fragmented and spatially limited, the stands of large old trees on productive soils near Euroa provide a network of well connected, high-quality habitat for phascogales. The relatively dense population of phascogales in these remnants suggests that prior to agricultural clearing and timber harvesting, phascogales may have been much more common in Victoria than at present.

An analysis of factors influencing waste minimisation and use of recycled materials for the construction of residential buildings

Residential building construction activities, whether it is new build, repair or maintenance, consumes a large amount of natural resources. This has a negative impact on the environment in the form depleting natural resources, increasing waste production and pollution. Previous research has identified the benefits of preventing or reducing material waste, mainly in terms of the limited available space for waste disposal, and escalating costs associated with landfills, waste management and disposal and their impact on a  building company's profitability. There has however been little development internationally of innovative waste management strategies aimed at reducing the resource requirement of the construction process. The authors contend that embodied energy is a useful indicator of resource value. Using data provided by a regional high-volume residential builder in the State of Victoria, Australia, this paper identifies the various types of waste that are generated from the construction of a typical standard house. It was found that in this particular case, wasted amounts of materials were less than those found previously by others for cases in capital cities (5-10 per cent), suggesting that waste minimisation strategies are successfully being implemented. Cost and embodied energy savings from using materials with recycled content are potentially more beneficial in terms of embodied energy and resource depletion than waste minimisation strategies.

Land use, water quality and ecological responses in Lake Colac – trends from Australia

Purpose - Recently, Colac Otway Shire in Australia released its management plan for Lake Colac, claiming over-enrichment of the lake with nutrients and degraded water quality. This paper aims to investigate these claims by establishing a correlation between key water and ecological indicators and land uses.

Design/methodology/approach - Examines the correlation between impairment and stressors in Lake Colac. This was achieved by identifying the likely sources of pollutants into Lake Colac; identifying any existing monitoring program; and characterizing the water and sediment inputs. The likely impacts of increased nutrients and sediment levels on indigenous flora and fauna were also examined. The use of meiofauna (very small benthic metazoan animals) was investigated as an indicator of degraded sites. Plankton diversity as a measure of water health was also assessed.

Findings - Water quality in Lake Colac was found to vary both temporally and spatially, and exhibited low attainment against acceptable trigger values/objectives. At current levels the lake can be classified as poorly degraded. Likely sources of pollution were identified to be related to land uses in the catchments. The biota of the lake, investigated at four study sites, yielded a sparse, benthic macrofaunal assemblage that was dominated by oligochaetes. In contrast, an abundant and taxonomically diverse meiofaunal assemblage was noted. Future meiofaunal analyses are likely to resolve suitable biotic indicator species of free-living nematodes in response to land use and waterway threats specified in the study. Originality value - This work will provide a better understanding of integrated environmental systems to enable development of best management practices, thus transforming the way the land and water are used in the future. Following the present work, other key water and ecological indicators (increased dispersion and dominance of biological species) at five additional sites were studied. Alternative management options for the effluent generated at Colac Sewage Treatment Plant and possible ecological effects of each option were also evaluated. More recently, a sediment characterization study was also carried out at sensitive sites representative of locations where build up of sediments and algae outbreaks are reported. This will enable classification of sediment and evaluation of dredging options.

Social innovators or lagging behind: factors that influence managers' time use

Purpose – The broad aim of this paper is to investigate whether managers in Australia allocate their time differently than other occupational groups, and the impact gender and life situation (using marital status and presence or absence of dependent children as a proxy) has on time allocation.
Design/methodology/approach – To address these broad aims, data are drawn from the 1997 Australian Time Use Survey. This is a nationally representative survey that examines how people in different circumstances allocate time to different activities. Findings – The results of this study highlight three important issues. The first is that male and female managers display different patterns of time use. Male managers' time is dominated by paid employment activities, whereas female managers' time is spent predominantly on employment and domestic activities. The second is that life situation impacts on the time use of female managers, but not male managers. The third important find of this study is that managers' time use is different to other occupational groups. Practical implications – These findings have policy implications relating to work-life balance, career progression and changes in patterns of work. In terms of work-life issues, it reveals that male and female managers face a “time squeeze”, with some evidence of a “second-shift” for female managers. In addition, the findings provide insight into the work-life issues faced by male and female managers. Originality/value – The results of this inquiry provide insight into how different individuals spend their time – insight into “lifestyles”. However, in-depth qualitative studies are required to reveal why individuals allocate their time in this way and to understand the opportunities and constraints individuals face in time allocation.

Use of spreadsheet simulations in university chemistry education

Students who are strong in logical-mathematical intelligence have a natural advantage in learning and understanding chemistry, which is full of abstractions that are remote from the material world. Simulations provide more-inclusive learning activities for students who are weak in logical-mathematical intelligence.

A second advantage of using simulations is that they are not limited by (for example) the quantised energies, integral masses and discrete expectation values of real atoms and molecules. Numerical experiments can be used to investigate the effect of continuously varying atomic mass, bond distance or any other property, from one value to another.

Finally, students are more familiar with spreadsheets than more advanced mathematical packages such as MathCAD, MAPLE, Mathematica and other symbolic algebra software. Use of these advanced packages presents additional learning hurdles for students and should be used only for advanced classes. Furthermore, spreadsheets are capable of a level of sophistication that is greater than commonly expected. This can be achieved without the use of MACROs.

Examples from the author's teaching are used to discuss the advantages of spreadsheet simulations for learning chemistry.

Further evidence on the corporate use of derivatives in Australia : the case of foreign currency and interest rate instruments

In a recent issue of this journal Nguyen and Faff (2002) reported on an empirical exploration of the motives behind the aggregate use of financial derivatives by Australian companies. Employing the same sample of firms, the current paper extends their analysis to investigate similar issues, this time focussing separately on foreign currency and interest rate derivatives. At a specific level, our results reveal the following. A firm is more likely to use foreign currency derivatives if it is large and has more debt in its capital structure. Interest rate derivatives, on the other hand, are more likely to be used if a firm is larger, more levered, more liquid and pays higher dividends. These results are consistent with existing hedging theories. Market to book value (proxying growth opportunities), however, portrays an inconsistent relationship with the likelihood of interest rate derivative usage. When it comes to the extent of usage, a firm uses foreign currency derivatives more extensively if it is smaller, pays higher dividends and has more debt. Similarly, interest rate derivatives are used more extensively to address a high level of debt and a high dividend payout policy. At a general level, the current study confirms the core finding of Nguyen and Faff (2002), namely, that Australian companies use derivatives with a view to value maximisation.

What is the value of the arts?

In an age of globalisation, economic restructuring and rampant consumption, the "cultural industries" have come to be viewed as offering a source of social and economic salvation to declining towns, cities and regions. However, it is far from clear to what extent the arts, media and related tourism create employment, wealth, capital and community cohesion. What then is the value of the cultural industries and what concepts can be deployed to answer this question? This paper will report on one effort to devise a theoretical framework to assess the value of the cultural industries in one small Australian city. Drawing on Marxism, Pierre Boudieu and post-modem theory, it will develop a particular concept of "cultural capital" for use in quantifying and qualifying the socio-economic contribution of the cultural industries in Geelong, Victoria. It will argue that by linking Marx to Bourdieu around reformulated notions of "value" and "cultural capital", a theoretically rigorous framework can be distilled to assess and argue for the value of the arts. Such a concept has particular relevance and implications for arts managers.