Inequality in the Southern Mediterranean: A survey of selected countries. MEDPRO Technical Report No. 23/December 2012

This paper addresses the issues of current levels of inequality: their trends, determinants and future scenarios, demonstrating that welfare levels are measured by per capita consumption. Location, educational attainment and employment status have been identified as the key factors affecting levels of welfare and its distribution. A benefit incidence analysis was performed to investigate benefits of different deciles of per capita expenditure from education and health services. The inequality patterns in countries under investigation present significant variations; countries such as Turkey, Morocco and Tunisia show relatively high inequality while others, such as Egypt or Syria, show moderate to low inequality. Inequality in human development was addressed using the inequality-adjusted human development index (IHDI), introduced by Global HDR 2010. The average loss in the HDI due to inequality in all Arab countries under investigation is about 20%. Two reference scenarios (optimistic and pessimistic) were used to project future paths up to 2020 and 2030. The impact of positive growth is increasing inequality and a shrinking middle class. Results show that the rich benefit most from this growth path. The opposite trend is observed for the pessimistic scenario.

The twilight of the oil Eldorado. How the activity of Russian oil companies on the EU market has evolved. OSW Studies 55, April 2016

The European Union has traditionally been the most important outlet for Russian oil exports. At the same time, during the period 2011-2014 a systematic decline was observed in crude oil supplies to the EU, while at the same time the export of petroleum products increased. It is now difficult to say that Russia is following a coherent oil strategy vis-a-vis the EU. The current shape of Russian activity is more the result of the business interests of individual companies, rather than the result of activities coordinated by the state. Although in the short term (up to 2020), the negative trend in crude oil exports to the EU could be halted (as confirmed by the figures for 2015), the long-term prospects for Russia's position on the EU market are pessimistic. This is because the importance of factors unfavourable to Russia is rising, such as the decrease in consumption of oil in the EU, the increased competition among exporters to the EU market, and the deterioration of the climate of Russian/EU cooperation in the context of the anti-Russian sanctions, as well as unclear prospects for the development of the upstream sector in Russia.

Should I Stay or Should I Go? Career Choice Intentions of Students with Family Business Background

Personal and motivational patterns of intentional founders have been researched in great depth; however, antecedents to career choices of intentional successors have been conspicuously missing in entrepreneurship research. By drawing on theory of planned behavior, we investigate how intentional founders, successors, and employees differ in terms of locus of control and entrepreneurial self-efficacy as well as independence and innovation motives. We find that transitive likelihood of career intent depends on degree of entrepreneurial self-efficacy and the independence motive. Unexpectedly, we see that high levels of internal locus of control lead to a preference of employment, which challenges traditional entrepreneurship research and suggests that the feasibility of an entrepreneurial career path does not automatically make it desirable. Our findings suggest that students with family business background are pessimistic about being in control in an entrepreneurial career, but optimistic about their efficacy to pursue an entrepreneurial career.

Robustness of quantum gates in the presence of noise

We define several quantitative measures of the robustness of a quantum gate against noise. Exact analytic expressions for the robustness against depolarizing noise are obtained for all bipartite unitary quantum gates, and it is found that the controlled-NOT gate is the most robust two-qubit quantum gate, in the sense that it is the quantum gate which can tolerate the most depolarizing noise and still generate entanglement. Our results enable us to place several analytic upper bounds on the value of the threshold for quantum computation, with the best bound in the most pessimistic error model being p(th)less than or equal to0.5.

Psychoanalytic perspectives on substance use and antisocial personality disorder

Psychoanalysis and related psychodynamic psychotherapies have historically had a limited engagement with substance use and antisocial personality disorders. This in part reflects an early preoccupation with 'transference neuroses' and in part reflects later de-emphasis of diagnosis and focus on therapeutic process. Nonetheless, psychoanalytic perspectives can usefully inform thinking about approaches to treatment of such disorders and there are psychoanalytic constructs that have specific relevance to their treatment. This paper reviews some prominent strands of psychoanalytic thinking as they pertain to the treatment of substance abuse and antisocial personality disorders. It is argued that, while Freudian formulations lead to a primarily pessimistic view of the prospect of treatment of such disorders, both the British object relations and the North American self psychology traditions suggest potentially productive approaches. Finally the limited empirical evidence from brief psycho dynamically informed treatments of substance use disorders is reviewed. It is concluded that such treatments are not demonstrably effective but that, since no form of psychotherapy has established high efficacy with substance use disorders, brief psychdynamic therapies are not necessarily of lesser value than other treatments and may have specific value for particular individuals and in particular treatment contexts.

Women, careers and information technology: An introduction

This special issue revisits the relationship between women, work and technology, focusing specifically on gender equity in information technology (IT) employment. Along with theoretical contestation over the broader relationship between gender and technology, arguments about the prospects for women in IT employment have ranged from optimistic to pessimistic extremes. On the one hand, optimists have envisaged a more gender-egalitarian workforce based on new occupations lacking traditional gender markers, and 'young' firms offering positive flexibilities and equal employment opportunity protections. On the other hand, pessimists anticipate that ongoing male dominance over tedmology and competitive pressures in the IT sector will ensure that the most prestigious and highly rewarded jobs remain concentrated in male hands, even as teclmologies and jobs are themselves transformed.

A Matriz Filosófica do Presbiterianismo no Brasil

Os missionários protestantes presbiterianos que vieram para o Brasil no início da segunda metade do século XIX trouxeram uma interpretação calvinista da bíblia, pois permaneceram fieis à formação princetoniana que efetivou uma síntese entre ortodoxia calvinista e pietismo. Estes pricetonianos tinham como base epistemológica a filosofia de Thomas Reid, conhecida como o Realismo do Senso Comum. Essa filosofia é utilizada como uma epistemologia reformada, ou calvinista. Ela é compreendida em sua formação escocesa e consequentemente americana, via Princeton, como a Epistemologia Providencial. Desta forma, quando ela é assimilada pelos brasileiros por meio da pregação e da formação teológica, a mesma se torna parte do perfil presbiteriano brasileiro como doutrina filosófica. A Filosofia do Senso Comum se gesta como crítica à filosofia empirista de David Hume que, para Reid, convergiria para um possível aniquilamento da religião e para uma visão pessimista da ciência, afetando o empirismo, por conseguinte, causando uma nova formulação mais próxima do ceticismo. Por isso, Reid formulou a filosofia que para ele contrapõe-se a Locke e Berkeley e depois a David Hume, afirmando que a realidade é independente de nossa apreensão. Ou seja, na percepção do mundo exterior não há interferência do sujeito cognoscente sobre o objeto do conhecimento. A nossa relação com os objetos é direta e não deve ser desvirtuada por intermediações. Na implantação do protestantismo no Brasil, via missionários de Princeton, não houve uma defesa intransigente dos princípios calvinistas por parte de missionários como Fletcher e Simonton e sim uma continuidade da leitura das escrituras sagradas pelo viés calvinista, como era feito no Seminário de Princeton. Não havia uma ênfase acentuada na defesa da ortodoxia porque o tema do liberalismo teológico, ou do conflito entre modernismo e fundamentalismo não se fazia necessário na conjuntura local, onde predominava a preocupação pela evangelização em termos práticos. O conceitos da Filosofia do Senso Comum eram próximos do empirismo mitigado de Silvestre Pinheiro e do Ecletismo de Victor Cousin. Por isso, no Brasil, o local em que mais se vê a utilização da filosofia do Senso Comum é nos debates entre intelectuais, em três pontos interessantes: 1ª) O Senso Comum ficou restrito ao espaço acadêmico, na formação de novos pastores, sendo que as obras de Charles Hodge e A. A. Hodge são as principais fontes de implantação desta mentalidade ratificadora da experiência religiosa e, desta forma, delineiam o rosto do protestantismo entre presbiterianos, uma das principais denominações protestantes do final do século XIX; 2ª) Nos debates entre clérigos católicos e protestantes em polêmicas teológicas;. 3º) No aproveitamento utilitarista da assimilação cultural estrangeira pelos protestantes nacionais, não por último, facilitada pela simpatia dos liberais brasileiros pelo protestantismo, ao mesmo tempo que mantinham uma linha filosófica mais próxima do empirismo mitigado e do ecletismo. Assim, nossa hipótese pretende demonstrar que os protestantes trouxeram em seu bojo as formulações epistemológicas que foram passadas para um grupo de intelectuais, que formaram o quadro dos primeiros pastores presbiterianos da história desta denominação. Eles foram convertidos e assimilaram melhor as novas doutrinas por meio de mais do que simples pregações, mas pela sua forma filosófica de encarar os objetos estudados, e que tais informações vêm por meio da base epistemológica do Realismo do Senso Comum, que encontra espaço nos ideais republicanos brasileiros do século XIX.

The role of attributions in reactions to job relocation

Job relocation refers to the process of simultaneously moving to a new job and house and this can cause considerable stress for the relocator and his/her family. Based upon an attributional analysis, we predicted that negative psychological reactions would be a function of (1) number of relocation problems, and (2) making pessimistic attributions for relocation problems (that is, the tendency to attribute negative events to internal, stable and global causes). Furthermore, these factors should interact, such that individuals with many relocation problems who also make pessimistic attributions will experience the worst psychological reactions. The results from a cross-sectional survey of 93 relocators supported these predictions. As expected, those relocators who had many relocation problems and made pessimistic attributions reported the worst mental health and relocation-specific stress. In addition, a reanalysis of a longitudinal study of relocators by Martin (1996) also supported the above predictions using attributions of perceived control. Furthermore, the relocators predicted to be most at risk (many problems}/low control) reported the worst changes in mental health during the course of the move.

Intellectual alienation in a fragmented society and universe, as illustrated in the work of Wolfgang Koeppen (1906- )

This text is concerned with the intellectual and social alienation experienced by a twentieth century German writer (1906 - ).·the alienation begins in the context of German society, but this context is later globalised. The thesis first discusses the social and· intellectual origins and the salient features of this alienated stance, before proceeding to a detailed analysis of its recurring symptoms and later intensification in each of the author's main works, chronologically surveyed, supported by reference to minor writings. From the novels of the thirties' showing the burgher-artist conflict, and its symbolic dichotomies, the renunciation of traditional German values, and the ambiguous confrontation with new disruptive socio-political forces, we move to the post-war trilogy (1951-54), with its roots in the German social and political experience of the thirties' onwards. The latter, however, is merely a background for the presentation of a much more comprehensive view of the human condition:- a pessimistic vision of the repetitiveness and incorrigibility of this condition, the possibility of the apocalypse, the bankruptcy and ineffectiveness of European religion and culture, the 'absurd' meaninglessness of history, the intellectual artist's position and role(s) in mass-culture and an abstract, technologised mass-society, the central theme of fragmentation - of the structure of reality, society and personality, the artist's relation to this fragmentation, intensified in the twentieth,century. Style and language are consonant with this world-picture. Many of these features recur in the travel-books (1958-61); diachronic as well as synchronic approaches characterise the presentation of various modes of contemporary society in America, Russia, France and other European countries. Important features of intellectual alienation are:- the changelessness of historical motifs (e.g. tyranny, aggression), the conventions of burgher society, both old and new forms, the qualitative depreciation and standardisation of living, industrialisation and technology in complex, vulnerable and concemtrated urban societies, ambiguities of fragmented pluralism. Reference is made .to other travel-writers.

Wear of abrasion resisting materials

The wear behaviour of a series of chromium containing white irons has been investigated under conditions of high stress grinding abrasion using a specimen on track abrasion testing machine. The measured abrasion resistance of the irons has been explained in terms of microstructure and hardness and with respect to the wear damage observed at and beneath abraded surfaces. During abrasion material removal occurred by cracking and detachment from the matrix of eutectic carbides as well as by penetration and micromachining effects of the abrasive grits being crushed at the wearing surface. Under the particular test conditions used martensitic matrix structures gave higher resistance to abrasion than austenitic or pearlitic. However, no simple relationship was found between general hardness or matrix microhardness at wear surfaces and abrasion resistance, and the test yielded pessimistic results for austenitic irons. The fine structures of the 15% Cr and 30% Cr alloys were studied by thin foil transmission electron microscopy. It was found that both the matrix and carbide constituents could be thinned for examination at 100 Kv using conventional dishing followed by ion beam thinning. Flany of the rodlike eutectic N7C3 carbides were seen to consist of clusters of scalier rods with individual 117C3 crystals quite often containing central cores of matrix constituent. 3oth eutectic and secondary N7C3 carbides were found to contain stacking faults on planes normal to the basal plane. In the eutectic carbides in the 30A Cr iron there was evidence of an in-situ PI7C3 C. transition which had taken place during the hardening heat treatment of this alloy. In the as-cast austenitic matrix iron strain induced martensite was produced at the wear surface contributing to work hardening. The significance of these findings have been discussed in relation to wear performance.

Assignment Games with Externalities

We examine assignment games, wherematched pairs of firms and workers create some monetary value to distribute among themselves and the agents aim to maximize their payoff. In the majority of this literature, externalities - in the sense that a pair’s value depends on the pairing of the others - have been neglected. However, inmost applications a firm’s success depends on, say, the success of its rivals and suppliers. Thus, it is natural to ask how the classical results on assignment games are affected by the introduction of externalities? The answer is – dramatically. We find that (i) a problem may have no stable outcome, (ii) stable outcomes can be inefficient (not maximize total value), (iii) efficient outcomes can be unstable, and (iv) the set of stable outcomes may not form a lattice. We show that stable outcomes always exist if agents are "pessimistic." This is a knife-edge result: there are problems in which the slightest optimism by a single pair erases all stable outcomes.

Essays on the Impact of Stakeholders' Sentiment on the Financial Decision Making Process

The most important factor that affects the decision making process in finance is the risk which is usually measured by variance (total risk) or systematic risk (beta). Since investors' sentiment (whether she is an optimist or pessimist) plays a very important role in the choice of beta measure, any decision made for the same asset within the same time horizon will be different for different individuals. In other words, there will neither be homogeneity of beliefs nor the rational expectation prevalent in the market due to behavioral traits. This dissertation consists of three essays. In the first essay, Investor Sentiment and Intrinsic Stock Prices, a new technical trading strategy is developed using a firm specific individual sentiment measure. This behavioral based trading strategy forecasts a range within which a stock price moves in a particular period and can be used for stock trading. Results show that sample firms trade within a range and show signals as to when to buy or sell. The second essay, Managerial Sentiment and the Value of the Firm, examines the effect of managerial sentiment on the project selection process using net present value criterion and also effect of managerial sentiment on the value of firm. Findings show that high sentiment and low sentiment managers obtain different values for the same firm before and after the acceptance of a project. The last essay, Investor Sentiment and Optimal Portfolio Selection, analyzes how the investor sentiment affects the nature and composition of the optimal portfolio as well as the performance measures. Results suggest that the choice of the investor sentiment completely changes the portfolio composition, i.e., the high sentiment investor will have a completely different choice of assets in the portfolio in comparison with the low sentiment investor. The results indicate the practical application of behavioral model based technical indicators for stock trading. Additional insights developed include the valuation of firms with a behavioral component and the importance of distinguishing portfolio performance based on sentiment factors.

Ecological indicators for system-wide assessment of the greater everglades ecosystem restoration program

Developing scientifically credible tools for measuring the success of ecological restoration projects is a difficult and a non-trivial task. Yet, reliable measures of the general health and ecological integrity of ecosystems are critical for assessing the success of restoration programs. The South Florida Ecosystem Restoration Task Force (Task Force), which helps coordinate a multi-billion dollar multi-organizational effort between federal, state, local and tribal governments to restore the Florida Everglades, is using a small set of system-wide ecological indicators to assess the restoration efforts. A team of scientists and managers identified eleven ecological indicators from a field of several hundred through a selection process using 12 criteria to determine their applicability as part of a system-wide suite. The 12 criteria are: (1) is the indicator relevant to the ecosystem? (2) Does it respond to variability at a scale that makes it applicable to the entire system? (3) Is the indicator feasible to implement and is it measureable? (4) Is the indicator sensitive to system drivers and is it predictable? (5) Is the indicator interpretable in a common language? (6) Are there situations where an optimistic trend with regard to an indicator might suggest a pessimistic restoration trend? (7) Are there situations where a pessimistic trend with regard to an indicator may be unrelated to restoration activities? (8) Is the indicator scientifically defensible? (9) Can clear, measureable targets be established for the indicator to allow for assessments of success? (10) Does the indicator have specificity to be able to result in corrective action? (11) What level of ecosystem process or structure does the indicator address? (12) Does the indicator provide early warning signs of ecological change? In addition, a two page stoplight report card was developed to assist in communicating the complex science inherent in ecological indicators in a common language for resource managers, policy makers and the public. The report card employs a universally understood stoplight symbol that uses green to indicate that targets are being met, yellow to indicate that targets have not been met and corrective action may be needed and red to represent that targets are far from being met and corrective action is required. This paper presents the scientific process and the results of the development and selection of the criteria, the indicators and the stoplight report card format and content. The detailed process and results for the individual indicators are presented in companion papers in this special issue of Ecological Indicators.

Echinometra sea urchins acclimatised to elevated pCO2 at volcanic vents outperform those under present-day pCO2 conditions

Rising atmospheric CO2 concentrations will significantly reduce ocean pH during the 21st century (ocean acidification, OA). This may hamper calcification in marine organisms such as corals and echinoderms, as shown in many laboratory-based experiments. Sea urchins are considered highly vulnerable to OA. We studied an Echinometra species on natural volcanic CO2 vents in Papua New Guinea, where they are CO2-acclimatized and also subjected to secondary ecological changes from elevated CO2. Near the vent site, the urchins experienced large daily variations in pH (> 1 unit) and pCO2 (> 2000 ppm) and average pH values (pHT 7.73) much below those expected under the most pessimistic future emission scenarios. Growth was measured over a 17-month period using tetracycline tagging of the calcareous feeding lanterns. Average-sized urchins grew more than twice as fast at the vent compared with those at an adjacent control site, and assumed larger sizes at the vent compared to the control site and two other sites at another reef near-by. A small reduction in gonad weight was detected at the vents, but no differences in mortality, respiration, or degree of test calcification were detected between urchins from vent and control populations. Thus, urchins did not only persist but actually 'thrived' under extreme CO2 conditions. We suggest an ecological basis for this response: increased algal productivity under increased pCO2 provided more food at the vent, resulting in higher growth rates. The wider implication of our observation is that laboratory studies on non-acclimatized specimens, which typically do not consider ecological changes, can lead to erroneous conclusions on responses to global change.

Optimal Reporting Systems With Investor Information Acquisition

This paper analyzes a manager's optimal ex-ante reporting system using a Bayesian persuasion approach (Kamenica and Gentzkow (2011)) in a setting where investors affect cash flows through their decision to finance the firm's investment opportunities, possibly assisted by the costly acquisition of additional information (inspection). I examine how the informativeness and the bias of the optimal system are determined by investors' inspection cost, the degree of incentive alignment between the manager and the investor, and the prior belief that the project is profitable. I find that a mis-aligned manager's system is informative

only when the market prior is pessimistic and is always positively biased; this bias decreases as investors' inspection cost decreases. In contrast, a well-aligned manager's system is fully revealing when investors' inspection cost is high, and is counter-cyclical to the market belief when the inspection cost is low: It is positively (negatively) biased when the market belief is pessimistic (optimistic). Furthermore, I explore the extent to which the results generalize to a case with managerial manipulation and discuss the implications for investment efficiency. Overall, the analysis describes the complex interactions among determinants of firm disclosures and governance, and offers explanations for the mixed empirical results in this area.