866 resultados para rational expectations propositions


Relevância:

20.00% 20.00%

Publicador:

Resumo:

Management capabilities have been widely researched in the private and public sectors, yet there is less evidence relating to the nonprofit sector. Increasing pressures to balance the demands of organizational values with business performance in this sector leads to a focus on the managerial capabilities required to meet these expectations. This article reports an exploratory study of capability expectations of managers within an Australian nonprofit organization. Using semistructured interviews, data were collected from 21 managers across three hierarchical levels. Findings indicate that while there is some overlap with managerial requirements in the private and public sectors, there are some unique aspects of nonprofit operations which warrant further investigation. Specifically, there was an emphasis on personal knowledge and experience (i.e., self-awareness, discipline, knowledge, and strategic thinking) and having a commitment to the nonprofit sector and values of the organization. Expectations also varied depending on the level of management within the organization.

Relevância:

20.00% 20.00%

Publicador:

Resumo:

A bank guarantee has traditionally been viewed as a cash equivalent. This view is supported by the operation of the autonomy principle. However, the autonomy principle is subject to certain recognised exceptions both at common law and under statute. One of these exceptions is commonly referred to as the negative stipulation or underlying contract exception. In recent times the operation of this particular exception has given rise to a wealth of case law. This article examines whether this recent case law appropriately recognises the reasonable expectations of the beneficiary of a bank guarantee that a bank guarantee should function not only as a security but as a risk allocation device.

Relevância:

20.00% 20.00%

Publicador:

Resumo:

There have been major advances in the past couple of years in the rational synthesis of inorganic solids: synthesis of mercury-based superconducting cuprates showing transition temperatures up to 150 K; ZrP2-xVxO7 solid solutions showing zero or negative thermal expansion; copper oxides possessing ladder structures such as La1-xSrxCuO2.5; synthesis of mesoporous oxide materials having adjustable pore size in the range 15-100 Angstrom; and synthesis of a molecular ferromagnet showing a critical temperature of 18.6 K. Despite great advances in probing the structures of solids and measurement of their physical properties, the design and synthesis of inorganic solids possessing desired structures and properties remain a challenge today. With the availability of a variety of mild chemistry-based approaches, kinetic control of synthetic pathways is becoming increasingly possible, which, it is hoped, will eventually make rational design of inorganic solids a reality.

Relevância:

20.00% 20.00%

Publicador:

Resumo:

The UDP-glucuronosyltransferases (UGTs) are enzymes of the phase II metabolic system. These enzymes catalyze the transfer of α-D-glucuronic acid from UDP-glucuronic acid to aglycones bearing nucleophilic groups affording exclusively their corresponding β-D-glucuronides to render lipophilic endobiotics and xenobiotics more water soluble. This detoxification pathway aids in the urinary and biliary excretion of lipophilic compounds thus preventing their accumulation to harmful levels. The aim of this study was to investigate the effect of stereochemical and steric features of substrates on the glucuronidation catalyzed by UGTs 2B7 and 2B17. Furthermore, this study relates to the design and synthesis of novel, selective inhibitors that display high affinity for the key enzyme involved in drug glucuronidation, UGT2B7. The starting point for the development of inhibitors was to assess the influence of the stereochemistry of substrates on the UGT-catalyzed glucuronidation reaction. A set of 28 enantiomerically pure alcohols was subjected to glucuronidation assays employing the human UGT isoforms 2B7 and 2B17. Both UGT enzymes displayed high stereoselectivity, favoring the glucuronidation of the (R)-enantiomers over their respective mirror-image compounds. The spatial arrangement of the hydroxy group of the substrate determined the rate of the UGT-catalyzed reaction. However, the affinity of the enantiomeric substrates to the enzymes was not significantly influenced by the spatial orientation of the nucleophilic hydroxy group. Based on these results, a rational approach for the design of inhibitors was developed by addressing the stereochemical features of substrate molecules. Further studies showed that the rate of the enzymatic glucuronidation of substrates was also highly dependent on the steric demand in vicinity of the nucleophilic hydroxy group. These findings provided a rational approach to turn high-affinity substrates into true UGT inhibitors by addressing stereochemical and steric features of substrate molecules. The tricyclic sesquiterpenols longifolol and isolongifolol were identified as high-affinity substrates which displayed high selectivity for the UGT isoform 2B7. These compounds served therefore as lead structures for the design of potent and selective inhibitors for UGT2B7. Selective and potent inhibitors were prepared by synthetically modifying the lead compounds longifolol and isolongifolol taking stereochemical and steric features into account. The best inhibitor of UGT2B7, β-phenyllongifolol, displayed an inhibition constant of 0.91 nM.

Relevância:

20.00% 20.00%

Publicador:

Resumo:

Bertrand Russell (1872 1970) introduced the English-speaking philosophical world to modern, mathematical logic and foundational study of mathematics. The present study concerns the conception of logic that underlies his early logicist philosophy of mathematics, formulated in The Principles of Mathematics (1903). In 1967, Jean van Heijenoort published a paper, Logic as Language and Logic as Calculus, in which he argued that the early development of modern logic (roughly the period 1879 1930) can be understood, when considered in the light of a distinction between two essentially different perspectives on logic. According to the view of logic as language, logic constitutes the general framework for all rational discourse, or meaningful use of language, whereas the conception of logic as calculus regards logic more as a symbolism which is subject to reinterpretation. The calculus-view paves the way for systematic metatheory, where logic itself becomes a subject of mathematical study (model-theory). Several scholars have interpreted Russell s views on logic with the help of the interpretative tool introduced by van Heijenoort,. They have commonly argued that Russell s is a clear-cut case of the view of logic as language. In the present study a detailed reconstruction of the view and its implications is provided, and it is argued that the interpretation is seriously misleading as to what he really thought about logic. I argue that Russell s conception is best understood by setting it in its proper philosophical context. This is constituted by Immanuel Kant s theory of mathematics. Kant had argued that purely conceptual thought basically, the logical forms recognised in Aristotelian logic cannot capture the content of mathematical judgments and reasonings. Mathematical cognition is not grounded in logic but in space and time as the pure forms of intuition. As against this view, Russell argued that once logic is developed into a proper tool which can be applied to mathematical theories, Kant s views turn out to be completely wrong. In the present work the view is defended that Russell s logicist philosophy of mathematics, or the view that mathematics is really only logic, is based on what I term the Bolzanian account of logic . According to this conception, (i) the distinction between form and content is not explanatory in logic; (ii) the propositions of logic have genuine content; (iii) this content is conferred upon them by special entities, logical constants . The Bolzanian account, it is argued, is both historically important and throws genuine light on Russell s conception of logic.

Relevância:

20.00% 20.00%

Publicador:

Resumo:

In this study I discuss G. W. Leibniz's (1646-1716) views on rational decision-making from the standpoint of both God and man. The Divine decision takes place within creation, as God freely chooses the best from an infinite number of possible worlds. While God's choice is based on absolutely certain knowledge, human decisions on practical matters are mostly based on uncertain knowledge. However, in many respects they could be regarded as analogous in more complicated situations. In addition to giving an overview of the divine decision-making and discussing critically the criteria God favours in his choice, I provide an account of Leibniz's views on human deliberation, which includes some new ideas. One of these concerns is the importance of estimating probabilities in making decisions one estimates both the goodness of the act itself and its consequences as far as the desired good is concerned. Another idea is related to the plurality of goods in complicated decisions and the competition this may provoke. Thirdly, heuristic models are used to sketch situations under deliberation in order to help in making the decision. Combining the views of Marcelo Dascal, Jaakko Hintikka and Simo Knuuttila, I argue that Leibniz applied two kinds of models of rational decision-making to practical controversies, often without explicating the details. The more simple, traditional pair of scales model is best suited to cases in which one has to decide for or against some option, or to distribute goods among parties and strive for a compromise. What may be of more help in more complicated deliberations is the novel vectorial model, which is an instance of the general mathematical doctrine of the calculus of variations. To illustrate this distinction, I discuss some cases in which he apparently applied these models in different kinds of situation. These examples support the view that the models had a systematic value in his theory of practical rationality.

Relevância:

20.00% 20.00%

Publicador:

Resumo:

Heavy haul railway lines are important and expensive items of infrastructure operating in an environment which is increasingly focussed on risk-based management and constrained profit margins. It is vital that costs are minimised but also that infrastructure satisfies failure criteria and standards of reliability which account for the random nature of wheel-rail forces and of the properties of the materials in the track. In Australia and the USA, concrete railway sleepers/ties are still designed using methods which the rest of the civil engineering world discarded decades ago in favour of the more rational, more economical and probabilistically based, limit states design (LSD) concept. This paper describes a LSD method for concrete sleepers which is based on (a) billions of measurements over many years of the real, random wheel-rail forces on heavy haul lines, and (b) the true capacity of sleepers. The essential principles on which the new method is based are similar to current, widely used LSD-based standards for concrete structures. The paper proposes and describes four limit states which a sleeper must satisfy, namely: strength; operations; serviceability; and fatigue. The method has been applied commercially to two new major heavy haul lines in Australia, where it has saved clients millions of dollars in capital expenditure.

Relevância:

20.00% 20.00%

Publicador:

Resumo:

[Excerpt] The effects of framing on decisions has been widely studied, producing research that suggests individuals respond to framing in predictable and fairly consistent ways (Bazerman, 1984, 1990; Tversky & Kahneman, 1986; Thaler, 1980). The essential finding from this body of research is that "individuals treat risks concerning perceived gains (for example, saving jobs and plants) differently from risks concerning perceived losses (losing jobs and plants)" (Bazerman, 1990, pp. 49-50). Specifically, individuals tend to avoid risks concerning gains, and seek risks concerning losses.

Relevância:

20.00% 20.00%

Publicador:

Resumo:

This paper outlines the expectations of a wide range of stakeholders for environmental assurance in the pastoral industries and agriculture generally. Stakeholders consulted were domestic consumers, rangeland graziers, members of environmental groups, companies within meat and wool supply chains, and agricultural industry, environmental and consumer groups. Most stakeholders were in favour of the application of environmental assurance to agriculture, although supply chains and consumers had less enthusiasm for this than environmental and consumer groups. General public good benefits were more important to environmental and consumer groups, while private benefits were more important to consumers and supply chains. The 'ideal' form of environmental assurance appears to be a management system that provides for continuous improvement in environmental, quality and food safety outcomes, combined with elements of ISO 14024 eco-labelling such as life-cycle assessment, environmental performance criteria, third-party certification, labelling and multi-stakeholder involvement. However, market failure prevents this from being implemented and will continue to do so for the foreseeable future. In the short term, members of supply chains (the people that must implement and fund environmental assurance) want this to be kept simple and low cost, to be built into their existing industry standards and to add value to their businesses. As a starting point, several agricultural industry organisations favour the use of a basic management system, combining continuous improvement, risk assessment and industry best management practice programs, which can be built on over time to meet regulator, market and community expectations.

Relevância:

20.00% 20.00%

Publicador:

Resumo:

The aim of the study is to describe the consultation discussions between the teacher, parents and the student. The structure and the interaction of the conversation is in the focus of the study. The study explicates the organization of the interaction and orientation of the participants in the conversation. The study approaches conversation as a dynamic activity and studies it from the point of view of the participants. Assessment is one of the themes involved in the teacher-parent-student consultation discussions. Assessment as a duty of the school brings an institutional aspect in the conversation, but the ways it is implemented and expressed varies in the conversational situations. Participants communication and interaction in the situation influences the ways the consultation discussions are carried out. The framework of the study is based on the ethno methodological approach where a social situation and its meaning is seen negotiated by the participants. The interest of the study is to find out how the participants implement mutual understanding and how it can be observed in their interaction. Quantitatively, the interaction of the participants is described in the framework of the interaction analysis and linked to the socio-emotional and rational aspects of the interaction. The empirical part of the study consists of data collected with questionnaires and videotaped conversations. The main research problems of the study are, how the teachers and parents described the consultation discussions and how the interaction of the teacher, the parent and the student is organized during the conversation. The background of the study is linked to the previous studies concerning co-operation between the teacher and the parent and home-school relationship. This part of the study aims to enlighten how the consultation discussions are part of the co-operation in the school context. The questionnaires link the consultation discussions to the every day co-operation between the teacher and the family. Expectations and results described by the parents and teachers are analysed. Videotaped data is both analysed quantitatively based on interaction analysis and approached with the ethno methodological interpretation. The interest of my study is, how people participate in the situation of consultation discussion, how they orientate in it and influence the conversation. The analyses of the consultation discussions are based on the both quantitative interaction analysis and ethno methodological frame analysis. With the theoretical approach of my study I want to describe and enlighten the organization of the interaction and ways of orientation of the participants in consultation discussions. Keywords: consultation discussion, interaction, evaluation, orientation in the conversation, home-school cooperation, quantitative interaction analysis, frame analysis

Relevância:

20.00% 20.00%

Publicador:

Resumo:

Recent years have witnessed burgeoning interest in the line managers' contribution to HRM effectiveness. This effort requires organizations to consider important contextual conditions to ensure the desired organizational outcomes. This paper explores the significance of the organization size in understanding the line managers' involvement in HRM activities. Two case studies were conducted, one in a large and another in a small airport involving key members of the airport management who were closely related to the line managers' HRM role. Content analysis was employed to analyze data from the interviews and written documents. While there were many similarities in the line managers' HRM role, the differences in the line managers' HRM role expectations are also found to be related to differences in the size of the organization. More responsibility is expected from line managers in the large airport as compared to the small airport. This finding has important implications in aligning the HRM strategy and organizational outcomes through the line management contribution.

Relevância:

20.00% 20.00%

Publicador:

Resumo:

The velocity ratio algorithm developed from a heuristic study of transfer matrix multiplication has been employed to bring out the relative effects of the elements constituting a linear, one-dimensional acoustic filter, the overall dimensions of which are fixed, and synthesize a suitable straight-through configuration for a low-pass, wide-band, non-dissipative acoustic filter. The potential of the foregoing approach in applications to the rational design of practical acoustic filters such as automotive mufflers is indicated.

Relevância:

20.00% 20.00%

Publicador:

Resumo:

Objective: To investigate the association between patients' expectations and the actual use of custom-made orthopaedic shoes. Design: A prospective cohort study with internal comparison. Setting: Twelve orthopaedic shoe companies. Patients: During six months, consecutive patients who were provided with their first ever pair of orthopaedic shoes and aged 16 years or older were recruited. A total of 339 patients with different pathologies were included (response 67%). Mean (SD) age of the patients was 63 (15) years, and 129 patients (38%) were male. Main measures: A practical and reproducible questionnaire, measuring: frequency of use of orthopaedic shoes, patients' expectations and experiences of aspects of the usability of orthopaedic shoes, and communication about patients' expectations. Results: Patients' expectations were not associated with the use of orthopaedic shoes (P-values range: 0.106 to 0.607), but the difference between expectations and experiences was (P-values range: <0.001 to 0.012). The expectations of patients who frequently used their orthopaedic shoes were in concordance with their experiences, whereas the expectations of patients who did not use their orthopaedic shoes were much higher than their experiences. There was no communication of patients' expectations with the medical specialist or orthopaedic shoe technician in 34% and 25% of the patients respectively. Conclusions: In relation to the actual use of orthopaedic shoes, it is crucial that patients' expectations are not much higher than their experiences.

Relevância:

20.00% 20.00%

Publicador:

Resumo:

The paper deals with a rational approach to the development of general design criteria for non-dissipative vibration isolation systems. The study covers straight-through springmass systems as well as branched ones with dynamic absorbers. Various design options, such as the addition of another spring-mass pair, replacement of an existing system by one with more spring-mass pairs for the same space and material requirements, provision of one or more dynamic absorbers for the desired frequency range, etc., are investigated quantitatively by means of an algebraic algorithm which enables one to write down straightaway the velocity ratio and hence transmissibility of a linear dynamical system in terms of the constituent parameters.

Relevância:

20.00% 20.00%

Publicador:

Resumo:

The present study examines empirically the inflation dynamics of the euro area. The focus of the analysis is on the role of expectations in the inflation process. In six articles we relax rationality assumption and proxy expectations directly using OECD forecasts or Consensus Economics survey data. In the first four articles we estimate alternative Phillips curve specifications and find evidence that inflation cannot instantaneously adjust to changes in expectations. A possible departure of expectations from rationality seems not to be powerful enough to totally explain the persistence of euro area inflation in the New Keynesian framework. When expectations are measured directly, the purely forward-looking New Keynesian Phillips curve is outperformed by the hybrid Phillips curve with an additional lagged inflation term and the New Classical Phillips curve with a lagged expectations term. The results suggest that the euro area inflation process has become more forward-looking in the recent years of low and stable inflation. Moreover, in low inflation countries, the inflation dynamics have been more forward-looking already since the late 1970s. We find evidence of substantial heterogeneity of inflation dynamics across the euro area countries. Real time data analysis suggests that in the euro area real time information matters most in the expectations term in the Phillips curve and that the balance of expectations formation is more forward- than backward-looking. Vector autoregressive (VAR) models of actual inflation, inflation expectations and the output gap are estimated in the last two articles.The VAR analysis indicates that inflation expectations, which are relatively persistent, have a significant effect on output. However,expectations seem to react to changes in both output and actual inflation, especially in the medium term. Overall, this study suggests that expectations play a central role in inflation dynamics, which should be taken into account in conducting monetary policy.