941 resultados para Limits to arbitrage


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Purpose – The purpose of this paper is to assess the applicability of relational contract theory in situations where government departments contract with non-government welfare organisations to deliver human service programmes. Its limits are highlighted by an assessment of programmes for domestically violent men that epitomise “management of incomplete contracts” central to the theory.

Design/methodology/approach – The paper is based on an evaluation of contracted-out programmes for perpetrators of domestic violence in Australia that set out to compare and contrast distinct models of service delivery by documenting programme logic, service delivery effectiveness and effects on programme participants. It reflects on the difficulties of monitoring such programmes and considers the implications of this for contracting theory and for human service practice.

Findings – In contrast to critiques of contracting-out in a neo-liberal environment that emphasise how accountability and reporting requirements limit the autonomy of contracted agencies, this paper highlights considerable variation in how programmes were managed and delivered despite standardised service delivery contracts developed by the government department funding the programmes. This leads to a consideration of “incomplete contracts” where service delivery outcomes are hard to measure or there is limited knowledge of the contracted agencies by the contracting government department.

Originality/value – The paper highlights a situation in which the recommendations of relational contracting theory can exacerbate the difficulties of quality assurance rather than minimise them. It then argues a need for workforce development in the government departments and the contracted agencies, to enable a nuanced monitoring of the programmes' service delivery and promotion of quality assurance processes.

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Measurements of the self coupling between bosons are important to test the electroweak sector of the Standard Model (SM). The production of pairs of Z bosons through the s-channel is forbidden in the SM. The presence of physics, beyond the SM, could lead to a deviation of the expected production cross section of pairs of Z bosons due to the so called anomalous Triple Gauge Couplings (aTGC). Proton-proton data collisions at the Large Hadron Collider (LHC) recorded by the ATLAS detector at a center of mass energy of 8 TeV were analyzed corresponding to an integrated luminosity of 20.3 fb-1. Pairs of Z bosons decaying into two electron-positron pairs are searched for in the data sample. The effect of the inclusion of detector regions corresponding to high values of the pseudorapidity was studied to enlarge the phase space available for the measurement of the ZZ production. The number of ZZ candidates was determined and the ZZ production cross section was measured to be: rn7.3±1.0(Stat.)±0.4(Sys.)±0.2(lumi.)pb, which is consistent with the SM expectation value of 7.2±0.3pb. Limits on the aTGCs were derived using the observed yield, which are twice as stringent as previous limits obtained by ATLAS at a center of mass energy of 7 TeV.

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Groundwater pumping from aquifers in hydraulic connection with nearby streams is known to cause adverse impacts by decreasing flows to levels below those necessary to maintain aquatic ecosystems. The recent passage of the Great Lakes--St. Lawrence River Basin Water Resources Compact has brought attention to this issue in the Great Lakes region. In particular, the legislation requires the Great Lakes states to enact measures for limiting water withdrawals that can cause adverse ecosystem impacts. This study explores how both hydrogeologic and environmental flow limitations constrain groundwater availability in the Great Lakes Basin. A methodology for calculating maximum allowable pumping rates is presented. Groundwater availability across the basin is shown to be constrained by a combination of hydrogeologic yield and environmental flow limitations varying over both local and regional scales. The results are sensitive to factors such as pumping time and streamflow depletion limits as well as streambed conductance. Understanding how these restrictions constrain groundwater usage and which hydrogeologic characteristics and spatial variables have the most influence on potential streamflow depletions has important water resources policy and management implications.

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Organisms in all domains, Archaea, Bacteria, and Eukarya will respond to climate change with differential vulnerabilities resulting in shifts in species distribution, coexistence, and interactions. The identification of unifying principles of organism functioning across all domains would facilitate a cause and effect understanding of such changes and their implications for ecosystem shifts. For example, the functional specialization of all organisms in limited temperature ranges leads us to ask for unifying functional reasons. Organisms also specialize in either anoxic or various oxygen ranges, with animals and plants depending on high oxygen levels. Here, we identify thermal ranges, heat limits of growth, and critically low (hypoxic) oxygen concentrations as proxies of tolerance in a meta-analysis of data available for marine organisms, with special reference to domain-specific limits. For an explanation of the patterns and differences observed, we define and quantify a proxy for organismic complexity across species from all domains. Rising complexity causes heat (and hypoxia) tolerances to decrease from Archaea to Bacteria to uni- and then multicellular Eukarya. Within and across domains, taxon-specific tolerance limits likely reflect ultimate evolutionary limits of its species to acclimatization and adaptation. We hypothesize that rising taxon-specific complexities in structure and function constrain organisms to narrower environmental ranges. Low complexity as in Archaea and some Bacteria provide life options in extreme environments. In the warmest oceans, temperature maxima reach and will surpass the permanent limits to the existence of multicellular animals, plants and unicellular phytoplankter. Smaller, less complex unicellular Eukarya, Bacteria, and Archaea will thus benefit and predominate even more in a future, warmer, and hypoxic ocean.

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We would like to thank the animal house staff and all members of the Energetics group for their invaluable help at various stages throughout the project. This work was supported by Natural Environment Research Council grant (NERC, NE/C004159/1). YG was supported by a scholarship from the rotary foundation. LV was supported by a Rubicon grant from the Netherlands Scientific Organisation (NWO).

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We present the first joint analysis of gamma-ray data from the MAGIC Cherenkov telescopes and the Fermi Large Area Telescope (LAT) to search for gamma-ray signals from dark matter annihilation in dwarf satellite galaxies. We combine 158 hours of Segue 1 observations with MAGIC with 6-year observations of 15 dwarf satellite galaxies by the Fermi-LAT. We obtain limits on the annihilation cross-section for dark matter particle masses between 10 GeV and 100 TeV – the widest mass range ever explored by a single gamma-ray analysis. These limits improve on previously published Fermi-LAT and MAGIC results by up to a factor of two at certain masses. Our new inclusive analysis approach is completely generic and can be used to perform a global, sensitivity-optimized dark matter search by combining data from present and future gamma-ray and neutrino detectors.

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Subpixel methods increase the accuracy and efficiency of image detectors, processing units, and algorithms and provide very cost-effective systems for object tracking. Published methods achieve resolution increases up to three orders of magnitude. In this Letter, we demonstrate that this limit can be theoretically improved by several orders of magnitude, permitting micropixel and submicropixel accuracies. The necessary condition for movement detection is that one single pixel changes its status. We show that an appropriate target design increases the probability of a pixel change for arbitrarily small shifts, thus increasing the detection accuracy of a tracking system. The proposal does not impose severe restriction on the target nor on the sensor, thus allowing easy experimental implementation.

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The desire to know the future is as old as humanity. For the tourism industry the demand for accurate foretelling of the future course of events is a task that consumes considerable energy and is of great significance to investors. This paper examines the issue of forecasting by comparing forecasts of inbound tourism made prior to the political and economic crises that engulfed Indonesia from 1997 onwards with actual arrival figures. The paper finds that current methods of forecasting are not able to cope with unexpected crises and other disasters and that alternative methods need to be examined including scenarios, political risk and application of chaos theory. The paper outlines a framework for classifying shocks according to a scale of severity, probability, type of event, level of certainty and suggested forecasting tools for each scale of shock. (C) 2003 Elsevier Science Ltd. All rights reserved.

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The United States has exerted a major influence on Southeast Asia, especially since World War II. As both a promoter of neoliberal reform and as the key strategic actor in the wider East Asian region, the impact of U.S. power has been immense. But both the Asian economic crisis and its aftermath, and the more recent war on terror, have highlighted the contradictory impact of evolving U.S. foreign policy and intervention in the region. At both an elite and a mass level there is evidence of resentment about, and hostility toward, U.S. policy and its perceived negative effects. This article outlines how U.S. foreign policy has impacted the region in the economic, political, and security spheres, and argues that not only has it frequently not achieved its goals, but it may in fact be undermining both America's long-term hegemonic position in the region and any prospects for political liberalization.

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An absence of genetic variance in traits under selection is perhaps the oldest explanation for a limit to evolutionary change, but has also been the most easily dismissed. We review a range of theoretical and empirical results covering single traits to more complex multivariate systems, and show that an absence of genetic variance may be more common than is currently appreciated. From a single-trait perspective, we highlight that it is becoming clear that some trait types do not display significant levels of genetic variation, and we raise the possibility that species with restricted ranges may differ qualitatively from more widespread species in levels of genetic variance in ecologically important traits. A common misconception in many life-history studies is that a lack of genetic variance in single traits, and genetic constraints as a consequence of bivariate genetic correlations, are different causes of selection limits. We detail how interpretations of bivariate patterns are unlikely to demonstrate genetic limits to selection in many cases. We advocate a multivariate definition of genetic constraints that emphasizes the presence (or otherwise) of genetic variance in the multivariate direction of selection. For multitrait systems, recent results using longer term studies of organisms, in which more is understood concerning what traits may be under selection, have indicated that selection may exhaust genetic variance, resulting in a limit to the selection response.

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In this article we compare the current debate about global warming with the earlier discourse of Limits to Growth (LtG) of the 1970's. We are especially interested in the similarities of and differences between the two cases and therefore compare the policy challenges and lessons to be drawn. While the two debates differ on important issues, they share a technocratic orientation to public policy, and susceptibility to similar pitfalls. In both debates alarming scenarios about future catastrophes play an important role. We suggest that climate change policy discourse needs to focus more closely on the social, economic, and political dimensions of climate change, as opposed to its excessive emphasis on emission reduction targets. We also argue that an excessive faith in the market mechanisms to supply global warming mitigation technologies is problematic. In this respect, we provide a reality check regarding the political implications of emission targets and timetables and suggest how policy issues can be moved forward.

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The views expressed herein are those of the authors, and do not represent those of a particular governmental agency or interagency body. This analysis was initiated at a Global Carbon Project meeting on NETs in Laxenburg, Austria, in April 2013 and contributes to the MaGNET program (http://www.cger.nies.go.jp/gcp/magnet.html). G.P.P. was supported by the Norwegian Research Council (236296). C.D.J. was supported by the Joint UK DECC/Defra Met Office Hadley Centre Climate Programme (GA01101). J.G.C. acknowledges support from the Australian Climate Change Science Program. E.Ka. and Y.Y. were supported by the ERTDF (S-10) from the Ministry of the Environment, Japan.

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5 pages, 4 figures