A path-dependent contingent-claims approach to capacity investments

This note presents a contingent-claims approach to strategic capacity planning. We develop models for capacity choice and expansion decisions in a single firm environment where investment is irreversible and demand is uncertain. These models illustrate specifically the relevance of path-dependent options analysis to planning capacity investments when the firm adopts demand tracking or average capacity strategies. It is argued that Asian/average type real options can explain hysteresis phenomena in addition to providing superior control of assets in place.

Loss of chance and the evaluation of hypothetical's in contractual claims

Analyses how to calculate damages for the loss of an opportunity by reason of a breach of contract, in the light of the House of Lords judgment in Gregg v Scott concerning clinical negligence. Discusses whether different principles apply to contract claims and torts.

The corporatization of community pharmacy:implications for service provision, the public health function, and pharmacy's claims to professional status in the United Kingdom

Background Pharmacy has experienced both incomplete professionalization and deprofessionalization. Since the late 1970s, a concerted attempt has been made to re-professionalize pharmacy in the United Kingdom (UK) through role extension—a key feature of which has been a drive for greater pharmacy involvement in public health. However, the continual corporatization of the UK community pharmacy sector may reduce the professional autonomy of pharmacists and may threaten to constrain attempts at reprofessionalization. Objectives The objectives of the research: to examine the public health activities of community pharmacists in the UK; to explore the attitudes of community pharmacists toward recent relevant UK policy and barriers to the development of their public health function; and, to investigate associations between activity, attitudes, and the type of community pharmacy worked in (eg, supermarket, chain, independent). Methods A self-completion postal questionnaire was sent to a random sample of practicing community pharmacists, stratified for country and sex, within Great Britain (n = 1998), with a follow-up to nonresponders 4 weeks later. Data were analyzed using SPSS (SPSS Inc., Chicago, IL, USA) (v12.0). A final response rate of 51% (n = 1023/1998) was achieved. Results The level of provision of emergency hormonal contraception on a patient group direction, supervised administration of medicines, and needle-exchange schemes was lower in supermarket pharmacies than in the other types of pharmacy. Respondents believed that supermarkets and the major multiple pharmacy chains held an advantageous position in terms of attracting financing for service development despite suggesting that the premises of such pharmacies may not be the most suitable for the provision of such services. Conclusions A mixed market in community pharmacy may be required to maintain a comprehensive range of pharmacy-based public health services and provide maximum benefit to all patients. Longitudinal monitoring is recommended to ensure that service provision is adequate across the pharmacy network.

Relaxing claims:coping with uncertainty while evaluating assumptions at run time

Self-adaptation enables software systems to respond to changing environmental contexts that may not be fully understood at design time. Designing a dynamically adaptive system (DAS) to cope with this uncertainty is challenging, as it is impractical during requirements analysis and design time to anticipate every environmental condition that the DAS may encounter. Previously, the RELAX language was proposed to make requirements more tolerant to environmental uncertainty, and Claims were applied as markers of uncertainty that document how design assumptions affect goals. This paper integrates these two techniques in order to assess the validity of Claims at run time while tolerating minor and unanticipated environmental conditions that can trigger adaptations. We apply the proposed approach to the dynamic reconfiguration of a remote data mirroring network that must diffuse data while minimizing costs and exposure to data loss. Results show RELAXing Claims enables a DAS to reduce adaptation costs. © 2012 Springer-Verlag.

Tracing requirements for adaptive systems using claims

The complexity of environments faced by dynamically adaptive systems (DAS) means that the RE process will often be iterative with analysts revisiting the system specifications based on new environmental understanding product of experiences with experimental deployments, or even after final deployments. An ability to trace backwards to an identified environmental assumption, and to trace forwards to find the areas of a DAS's specification that are affected by changes in environmental understanding aids in supporting this necessarily iterative RE process. This paper demonstrates how claims can be used as markers for areas of uncertainty in a DAS specification. The paper demonstrates backward tracing using claims to identify faulty environmental understanding, and forward tracing to allow generation of new behaviour in the form of policy adaptations and models for transitioning the running system. © 2011 ACM.

Claims for non-contractual services

The paper argued that the basis of non-contractual claims was reliance rather than unjust enrichment, criticising the unjust enrichment explanation as being premised on a number of unnecessary legal fictions which also undermine the more general coherence of unjust enrichment.

Truthiness and falsiness of trivia claims depend on judgmental contexts

When people rapidly judge the truth of claims presented with or without related but nonprobative photos, the photos tend to inflate the subjective truth of those claims-a "truthiness" effect (Newman et al., 2012). For example, people more often judged the claim "Macadamia nuts are in the same evolutionary family as peaches" to be true when the claim appeared with a photo of a bowl of macadamia nuts than when it appeared alone. We report several replications of that effect and 3 qualitatively new findings: (a) in a within-subjects design, when people judged claims paired with a mix of related, unrelated, or no photos, related photos produced truthiness but unrelated photos had no significant effect relative to no photos; (b) in a mixed design, when people judged claims paired with related (or unrelated) and no photos, related photos produced truthiness and unrelated photos produced "falseness;" and © in a fully between design, when people judged claims paired with either related, unrelated, or no photos, neither truthiness nor falsiness occurred. Our results suggest that photos influence people's judgments when a discrepancy arises in the expected ease of processing, and also support a mechanism in which-against a backdrop of an expected standard-related photos help people generate pseudoevidence to support claims. (PsycINFO Database Record)

Candidate knowledge? Exploring epistemic claims in scientific writing:a corpus-driven approach

In this article I argue that the study of the linguistic aspects of epistemology has become unhelpfully focused on the corpus-based study of hedging and that a corpus-driven approach can help to improve upon this. Through focusing on a corpus of texts from one discourse community (that of genetics) and identifying frequent tri-lexical clusters containing highly frequent lexical items identified as keywords, I undertake an inductive analysis identifying patterns of epistemic significance. Several of these patterns are shown to be hedging devices and the whole corpus frequencies of the most salient of these, candidate and putative, are then compared to the whole corpus frequencies for comparable wordforms and clusters of epistemic significance. Finally I interviewed a ‘friendly geneticist’ in order to check my interpretation of some of the terms used and to get an expert interpretation of the overall findings. In summary I argue that the highly unexpected patterns of hedging found in genetics demonstrate the value of adopting a corpus-driven approach and constitute an advance in our current understanding of how to approach the relationship between language and epistemology.