Research into anxiety of childhood: playing catch-up (to Olympic standard)

This special issue is the culmination of an ESRC seminar series grant awarded to the authors of this editorial. We named the seminar series CATTS (Child Anxiety, Theory and Treatment Seminars) and it took the form of six highly stimulating, one-day seminars on the subject of child anxiety, with participants from clinical and academic backgrounds and from Great Britain, Europe, the USA and Australia. Most of the authors in this publication, and a sister special issue in Cognitions and Emotion (2008), participated in the CATTS series.

Testing Turing's five minutes, parallel-paired imitation game

Purpose – The purpose of this paper is to consider Turing's two tests for machine intelligence: the parallel-paired, three-participants game presented in his 1950 paper, and the “jury-service” one-to-one measure described two years later in a radio broadcast. Both versions were instantiated in practical Turing tests during the 18th Loebner Prize for artificial intelligence hosted at the University of Reading, UK, in October 2008. This involved jury-service tests in the preliminary phase and parallel-paired in the final phase. Design/methodology/approach – Almost 100 test results from the final have been evaluated and this paper reports some intriguing nuances which arose as a result of the unique contest. Findings – In the 2008 competition, Turing's 30 per cent pass rate is not achieved by any machine in the parallel-paired tests but Turing's modified prediction: “at least in a hundred years time” is remembered. Originality/value – The paper presents actual responses from “modern Elizas” to human interrogators during contest dialogues that show considerable improvement in artificial conversational entities (ACE). Unlike their ancestor – Weizenbaum's natural language understanding system – ACE are now able to recall, share information and disclose personal interests.

Children playing branded video games: The impact of interactivity on product placement effectiveness

This study extends product placement research by testing the impact of interactivity on product placement effectiveness. The results suggest that when children cannot interact with the placements in video games, perceptual fluency is the underlying mechanism leading to positive affect. Therefore, the effects are only evident in a stimulus-based choice where the same stimulus is provided as a cue. However, when children have the opportunity to interact with the placements in video games, they may be influenced by conceptual fluency. Thus, placements are still effective in a memory-based choice where no stimulus is provided as a cue. Keywords: Perceptual fluency; Conceptual fluency; Video games; Interactivity; Children; Product placement

“Financial alchemy” or a zero sum game? Real estate finance, securitisation and the UK property market

Following the US model, the UK has seen considerable innovation in the funding, finance and procurement of real estate in the last decade. In the growing CMBS market asset backed securitisations have included $2.25billion secured on the Broadgate office development and issues secured on Canary Wharf and the Trafford Centre regional mall. Major occupiers (retailer Sainsbury’s, retail bank Abbey National) have engaged in innovative sale & leaseback and outsourcing schemes. Strong claims are made concerning the benefits of such schemes – e.g. British Land were reported to have reduced their weighted cost of debt by 150bp as a result of the Broadgate issue. The paper reports preliminary findings from a project funded by the Corporation of London and the RICS Research Foundation examining a number of innovative schemes to identify, within a formal finance framework, sources of added value and hidden costs. The analysis indicates that many of the gains claimed conceal costs – in terms of market value of debt or flexibility of management – while others result from unusual firm or market conditions (for example utilising the UK long lease and the unusual shape of the yield curve). Nonetheless, there are real gains resulting from the innovations, reflecting arbitrage and institutional constraints in the direct (private) real estate market