Dissent in monetary policy decisions

Voting records indicate that dissents in monetary policy committees are frequent and predictability regressions show that they help forecast future policy decisions. In order to study whether the latter relation is causal, we construct a model of committee decision making and dissent where members' decisions are not a function of past dissents. The model is estimated using voting data from the Bank of England and the Riksbank. Stochastic simulations show that the decision-making frictions in our model help account for the predictive power of current dissents. The effect of insti- tutional characteristics and structural parameters on dissent rates is examined using simulations as well.

An anonymizable entity finder in judicial decisions

Mémoire numérisé par la Division de la gestion de documents et des archives de l'Université de Montréal

The Influence of ICC Arbitral Decisions on Canadian Law: Comparative Study between Civil Law and Common Law Jurisdictions

L’objectif de cette recherche est de démontrer que les décisions arbitrales de la Chambre de commerce internationale peuvent être considérées comme une source potentielle de droit au Canada. Il existe actuellement une incertitude quant au droit matériel utilisé en arbitrage international pour résoudre les différends commerciaux. Bien que l’utilisation de la lex mercatoria pour résoudre un litige soit une option, elle se heurte à de nombreuses incertitudes terminologiques et conceptuelles. L’utilisation d’une approche méthodologique de la lex mercatoria permettrait une classification de ses sources en deux branches: (1) le droit statutaire international et (2) le stare decisis des tribunaux d’arbitrage commercial international. Une telle approche méthodologique conférerait plus de certitude quant à l’application d’un droit uniforme. De plus, elle faciliterait l’étude de l’interlégalité entre les règles de la lex mercatoria et le droit matériel interne. Plus particulièrement, elle permet de comparer les similitudes et les différences des règles du droit matériel entre les décisions arbitrales internationales, le droit statutaire international et les juridictions canadiennes de common law et de droit civil. Cette comparaison rend possible une évaluation de l’influence potentielle des décisions arbitrales de la Chambre de commerce internationale sur le droit matériel canadien et si cette influence est plus importante en droit civil ou en common law.

End-of-Life Decisions and Advanced Old Age

Article

Studies on the reproductive physiology and breeding biology of the cultivable species of grouper Epinephelus tauvina (Forsskal)

School of Industrial Fisheries,Cochin University of Science and Technology

Judicial Review of Academic Decisions

This thesis entitled “Judicial review of academic decisions.Education in India is being increasingly controlled and guided by the courts.This study makes an attempt to assess the involvement of the court in regulating education and its role or interference in the conventional concepts of ‘academic freedom’ and ‘university autonomy.The study mostly concentrates on the jurisdiction under Article 226 of the Constitution and its invocation in academic matters with particular reference to the decisions of the Kerala High Court.The concept of judicial review in the Constituent Assembly, initial approach of the Supreme Court of India towards the doctrine, gradual empowerment of Indian judiciary in this area and the resultant judicial activism.The study proceeds through the analysis of ‘academic freedom’ and ‘university autonomy’ in the 4"‘ chapter. This chapter attempts to probe academic freedom and university autonomy in India,England and United States and autonomy of Indian universities before and after independence.Basic principles and the jurisdictional parameters of judicial review in the area of academic decisions, as pronounced by the Apex Court, can be convincingly and consistently followed by the High Courts, which is possible only if special Academic Benches are constituted.

Bionomics, cryopreservation of gametes and captive breeding behaviour of threatened hillstream cyprinid, garra surendranathanii(shaji, arun & easa, 1996)

Garra surendranathanii is a hill stream cyprinid endemic to Kerala. According to IUCN based classification, G. surendranathanii is grouped under the threatened category. This endemic fish is having highly restricted and fragmented distribution and reported only from 5 river systems viz. Chalakudy, Periyar, Pamba, Achenkoil and Bharathapuzha. Categorization of this fish as a potential ornamental candidate can invariably add more pressure on the threat status of this particular species. Hence, this species is considered as one which requires foremost attention for conservation. Hitherto, no infomiation is available on the bionomics, resource characteristics and any conservation attempts of G. surendranathanii. Studies on detailed life history traits and development of captive breeding technique are indispensable for successful fishery management.The present study was undertaken with the following obj ectives: To study the Length-weight relationship and condition factor to ascertain the relationship between length and weight and general wellbeing ofthe fish To study the age and growth to understand the age composition of the exploited stock, age at first maturation and life span of the species. To study the reproductive biology of G. surendranathanii to gain insights in the process of gametogenesis, spawning, sex ratio, fecundity and other related aspects which are essential for developing captive breeding technology of this species. To develop captive breeding technology and cryopreservation ofgametes of G. surendranathanii for conservation

Determinants of Consumer Purchase Decisions of Health Insurance in Kerala

This research work was to study the level of awareness of consumers about health insurance concept and market, consumer perceptions about health insurance providers, schemes and various factors that influence buying decision of health insurance. There is need to bring entire age group – high risk and low risk under health insurance cover. Widening the cover of health insurance calls for indepth understanding of consumer thinking and extensive marketing efforts based on that. Hence the study of consumer perceptions and the impact of different contributing factors on consumer purchase decision assume significance to the marketer. Understanding the consumer thinking on health insurance will also be of relevance to governmental/non governmental agencies, as affordable health care to all is a policy objective of the government and new schemes are being launched in this area.

‘Driving Forces of Investment Decisions in Mutual Funds’

Unfortunately, in India it is a fact that most of the investors are not interested in mutual funds. Those who are investing, they are investing only very small amounts. But what is important to be noted here is that when compared to other financial instruments, investments in mutual funds are safer and also yields more returns on the investment portfolio. Moreover as an investment avenue mutual fund is available for those investors who are not willing to take any exposure directly in the security market. It also helps such investors to build their wealth over a period of time. At the retail level, investors are unique and are highly heterogeneous, and the mutual fund schemes' selection will also differ depends on their expectations. Hence, investors’ expectation is a very important factor in this regard that needs to be analysed by all the investment houses. Hence, the factors that drive the investment decisions of individual investors to meet their expectations by investing money in mutual funds need an in-depth analysis. These driving forces include the preference of investors on mutual fund compared to various available avenues of financial investments, risk attitude of investors, influence of characteristics of instruments of mutual funds on investors, the investment specific attitudes of investors, and influence of qualities of fund management on investors. The success of any mutual fund, a popular means of investment, depends on how effectively an Asset Management Company has been able to understand the level of influence of these factors on the decision of investors to invest in mutual funds. For a substantial growth in the mutual fund market, there must be a high level precision in the design and marketing of the products of mutual funds taking into account these driving forces by the Asset Management Companies. Therefore, there is a need to conduct a detailed study on investments in mutual funds in this direction. A review of available literature also revealed that no detailed study on mutual funds has so far been attempted in this direction; hence the present study on Driving Forces of Investment Decisions in Mutual Funds is undertaken.

Factors affecting farmers’ decisions on utilization of rice straw compost in Northeastern Thailand

Rice straw is used in Northeastern Thailand as an alternative to organic fertilizer for crop production. This enables farmers to reduce the use of chemical fertilizers which leads to a decrease in production costs. In spite of the beneficial effects in agricultural production, rice straw compost cannot be produced in large amounts because the burning of rice straws is a common farming practice. The decisions of farmers who use rice straw compost have been investigated by interviewing 120 households belonging to the members of an organic fertilizer user group using a household questionnaire. The study was conducted to evaluate the factors that affect the use of rice straw compost in Khon Kaen Province in Northeastern Thailand. Results of the logit model showed that the farmers’ education, number of rice straw compost trainings in which the farmer participated, lack of knowledge about technology, insufficient labour and difficulty in making rice straw compost had a significant impact on the farmer’s decision to use rice straw compost. Difficulty in making rice straw compost appeared to be the root cause because the procedure of making rice straw compost is complex and labour intensive. Repeated trainings thus, will have a positive and significant influence on farmers’ adoption of the technology. Training provides more knowledge and will presumably change the perception of the farmers towards new technologies and the awareness of positive effects of rice straw compost utilization.

Farmers’ desired traits and selection criteria for maize varieties and their implications for maize breeding: A case study from KwaZulu-Natal Province, South Africa

Adoption of hybrids and improved varieties has remained low in the smallholder farming sector of South Africa, despite maize being the staple food crop for the majority of households. The objective of this study was to establish preferred maize characteristics by farmers which can be used as selection criteria by maize breeders in crop improvement. Data were collected from three villages of a selected smallholder farming area in South Africa using a survey covering 300 households and participatory rural appraisal methodology. Results indicated a limited selection of maize varieties grown by farmers in the area compared to other communities in Africa. More than 97% of the farmers grew a local landrace called Natal-8-row or IsiZulu. Hybrids and improved open pollinated varieties were planted by less than 40% of the farmers. The Natal-8-row landrace had characteristics similar to landraces from eastern and southern Africa and closely resembled Hickory King, a landrace still popular in Southern Africa. The local landrace was preferred for its taste, recycled seed, tolerance to abiotic stresses and yield stability. Preferred characteristics of maize varieties were high yield and prolificacy, disease resistance, early maturity, white grain colour, and drying and shelling qualities. Farmers were willing to grow hybrids if the cost of seed and other inputs were affordable and their preferences were considered. Our results show that breeding opportunities exist for improving the farmers’ local varieties and maize breeders can take advantage of these preferred traits and incorporate them into existing high yielding varieties.

Interrelatedness of grazing livestock with vegetation parameters and farmers’ livelihoods in the Mahafaly region, southwestern Madagascar

The study aims to get deeper insight into the highly extensive system of animal husbandry in the Mahafaly region of southwestern Madagascar. It tries to understand the major drivers for pastoral dynamics, land and resource use along a gradient in altitude and vegetation to consider the area’s high spatial and temporal heterogeneity. The study also analyzes the reproductive performance of local livestock as well as the owners’ culling strategies to determine herd dynamics, opportunities for economic growth, and future potential for rural development. Across seasons, plateau herds from both livestock species covered longer distances (cattle 13.6±3.02 km, goats 12.3±3.48 km) and were found further away from the settlements (cattle 3.1±0.96 km, goats 2.8±0.98 km) than those from the coastal plain (walking_dist: cattle 9.5±3.25 km, goats 9.2±2.57 km; max_dist: cattle 2.6±1.28 km, goats 1.8±0.61 km). Transhumant cattle were detected more vulnerable through limited access to pasture land and water resources compared to local herds. Seasonal water shortage has been confirmed as a key constraint on the plateau while livestock keeping along the coast is more limited by dry season forage availability. However, recent security issues and land use conflicts with local crop farmers are gaining importance and force livestock owners to adapt their traditional grazing management, resulting in spatio-temporal variation of livestock numbers and in the impending risk of local overgrazing and degradation of rangelands. Among the 133 plant species consumed by livestock, 13 were determined of major importance for the animals’ nutrition. The nutritive value and digestibility of the natural forage, as well as its abundance in the coastal zone, substantially decreased over the course of the dry season and emphasized the importance of supplementary forage plants, in particular Euphorbia stenoclada. At the same time, an unsustainable utilization and overexploitation of its wild stocks may raise the pressure on the vegetation and pasture resources within the nearby Tsimanampetsotsa National Park. Age at first parturition was 40.5±0.59 months for cattle and 21.3±0.63 months for goats. Both species showed long parturition intervals (cattle 24.2±0.48 months, goats 12.4±0.30 months), mostly due to the maintenance of poorly performing breeding females within the herds. Reported offspring mortality, however, was low with 2.5% of cattle and 18.8% of goats dying before reaching maturity. The analysis of economic information revealed higher than expected market dynamics, especially for zebus, resulting in annual contribution margins of 33 € per cattle unit and 11 € per goat unit. The application of the PRY Herd Life model to simulate herd development for present management and two alternate scenarios confirmed the economic profitability of the current livestock system and showed potential for further productive and economic development. However, this might be clearly limited by the region’s restricted carrying capacity. Summarizing, this study illustrates the highly extensive and resources-driven character of the livestock system in the Mahafaly region, with herd mobility being a central element to cope with seasonal shortages in forage and water. But additional key drivers and external factors are gaining importance and increasingly affect migration decisions and grazing management. This leads to an increased risk of local overgrazing and overexploitation of natural pasture resources and intensifies the tension between pastoral and conservation interests. At the same time, it hampers the region’s agronomic development, which has not yet been fully exploited. The situation therefore demonstrates the need for practical improvement suggestions and implication measures, such as the systematic forestation of supplemental forage plant species in the coastal zone or a stronger integration of animal husbandry and crop production, to sustain the traditional livestock system without compromising peoples’ livelihoods while at the same time minimizing the pastoral impact on the area’s unique nature and environment.

An analysis of household farm investment decisions under varying land tenure arrangements in Ghana

Land tenure insecurity is widely perceived as a disincentive for long-term land improvement investment hence the objective of this paper is to evaluate how tenure (in)security associated with different land use arrangements in Ghana influenced households’ plot level investment decisions and choices. The paper uses data from the Farmer-Based Organisations (FBO) survey. The FBO survey collected information from 2,928 households across three ecological zones of Ghana using multistaged cluster sampling. Probit and Tobit models tested the effects of land tenancy and ownership arrangements on households’ investment behaviour while controlling other factors. It was found that marginal farm size was inversely related to tenure insecurity while tenure insecurity correlate positively with value of farm land and not farm size. Individual ownership and documentation of land significantly reduced the probability of households losing uncultivated lands. Individual land ownership increased both the probability of investing and level of investments made in land improvement and irrigation probably due to increasing importance households place on land ownership. Two possible explanations for this finding are: First, that land markets and land relations have changed significantly over the last two decades with increasing money transaction and fixed agreements propelled by population growth and increasing value of land. Secondly, inclusion of irrigation investment as a long term investment in land raises the value of household investment and the time period required to reap the returns on the investments. Households take land ownership and duration of tenancy into consideration if the resource implications of land investments are relatively huge and the time dimension for harvesting returns to investments is relatively long.

The Benefits of Re-Evaluating Real-Time Fulfillment Decisions

At the time of a customer order, the e-tailer assigns the order to one or more of its order fulfillment centers, and/or to drop shippers, so as to minimize procurement and transportation costs, based on the available current information. However this assignment is necessarily myopic as it cannot account for all future events, such as subsequent customer orders or inventory replenishments. We examine the potential benefits from periodically re-evaluating these real-time order-assignment decisions. We construct near-optimal heuristics for the re-assignment for a large set of customer orders with the objective to minimize the total number of shipments. We investigate how best to implement these heuristics for a rolling horizon, and discuss the effect of demand correlation, customer order size, and the number of customer orders on the nature of the heuristics. Finally, we present potential saving opportunities by testing the heuristics on sets of order data from a major e-tailer.