Theory of World Security

Booth, Ken, Theory of World Security (Cambridge: Cambridge University Press, 2008), pp.xviii+489 RAE2008

Accents of Chopin anniversaries in territories annexed by Prussia

This article discusses the way in which the Chopin Year of 1910 was celebrated in Wielkopolska. It presents a script prepared in the nineteenth century and shows similarities with celebrations of Mickiewicz and other Polish heroes and artists. Invariably used in such commemorations was a “symbolic capital” that made it easier to create an intergenerational code, thereby disseminating knowledge of national culture and history. A significant role was played in 1910 by a centenary panel, which produced “Guidelines for popular Chopin celebrations” and also many occasional, popular materials. Chopin’s induction into the national pantheon involved the use of audio material (vocal and instrumental concerts), verbal material (articles, poems, lectures and brochures) and also a visual code (anniversary window stickers, tableaux vivants or tableaux illuminés). Illuminated pictures – recommended by a catalogue of slides produced in Poznań – stimulated the imagination of the masses and served as a guide through the composer’s life and work, and their impact was enhanced by a commentary. Most of the living pictures were probably inspired by Henryk Siemiradzki’s canvas Chopin grający na fortepianie w salonie księcia Radziwiłła [Chopin playing the piano in Prince Radziwiłł’s salon] and Józef Męcina Krzesz’s painting Ostatnie akordy Chopina [Chopin’s last chords]. This combination of codes made it possible to create a model adapted to the times and to the expectations of a mass audience. The Chopin anniversary, in which admiration was inseparably intertwined with manipulation, was a pretext for strengthening the national identity.

Filozofia antyczna wobec problemu interpretacji. Rozwój alegorezy od przedsokratyków do Arystotelesa

The present work examines the beginnings of ancient hermeneutics. More specifically, it discusses the connection between the rise of the practice of allegoresis, on the one hand, and the emergence of the first theory of figurative language, on the other. Thus, this book investigates the specific historical and cultural circumstances that enabled the ancient Greeks not only to discover the possibility of allegorical interpretation, but also to treat figurative language as a philosophical problem. By posing difficulties in understanding the enigmatic sense of various esoteric doctrines, poems, oracles and riddles, figurative language created the context for theoretical reflection on the meaning of these “messages”. Hence, ancient interpreters began to ponder over the nature and functions of figurative (“enigmatic”) language as well as over the techniques of its proper use and interpretation. Although the practice of allegorical interpretation was closely linked to the development of the whole of ancient philosophy, the present work covers only the period from the 6th to the 4th century B.C. It concentrates, then, on the philosophical and cultural consequences of allegoresis in the classical age. The main thesis advocated here has it that the ancient Greeks were in-clined to regard allegory as a cognitive problem rather than merely as a stylistic or a literary one. When searching for the hidden meanings of various esoteric doc-trines, poems, oracles and riddles, ancient interpreters of these “messages” assumed allegory to be the only tool suitable for articulating certain matters. In other words, it was their belief that the use of figurative language resulted from the necessity of expressing things that were otherwise inexpressible. The present work has been organized in the following manner. The first part contains historical and philological discussions that provide the point of departure for more philosophical considerations. This part consists of two introductory chapters. Chapter one situates the practice of allegorical interpretation at the borderline of two different traditions: the rhetorical-grammatical and the hermeneutical. In order to clearly differentiate between the two, chapter one distinguishes between allegory and allegoresis, on the one hand, and allegoresis and exegesis, on the other. While pointing to the conventionality (and even arbitrariness) of such distinctions, the chapter argues, nevertheless, for their heuristic usefulness. The remaining part of chapter one focuses on a historical and philological reconstruction of the most important conceptual tools of ancient hermeneutics. Discussing the semantics of such terms as allēgoría, hypónoia, ainigma and symbolon proves important for at least two crucial reasons. Firstly, it reveals the mutual affinity between allegoresis and divination, i.e., practices that are inherently connected with the need to discover the latent meaning of the “message” in question (whether poem or oracle). Secondly, these philological analyses bring to light the specificity of the ancient understanding of such concepts as allegory or symbol. It goes without saying that antiquity employed these terms in a manner quite disparate from modernity. Chapter one concludes with a discussion of ancient views on the cognitive value of figurative (“enigmatic”) language. Chapter two focuses on the role that allegoresis played in the process of transforming mythos into logos. It is suggested here that it was the practice of allegorical interpretation that made it possible to preserve the traditional myths as an important point of reference for the whole of ancient philosophy. Thus, chapter two argues that the existence of a clear opposition between mythos into logos in Preplatonic philosophy is highly questionable in light of the indisputable fact that the Presocratics, Sophists and Cynics were profoundly convinced about the cognitive value of mythos (this conviction was also shared by Plato and Aristotle, but their attitude towards myth was more complex). Consequently, chapter two argues that in Preplatonic philosophy, myth played a function analogous to the concepts discussed in chapter one (i.e., hidden meanings, enigmas and symbols), for in all these cases, ancient interpreters found tools for conveying issues that were otherwise difficult to convey. Chapter two concludes with a classification of various types of allegoresis. Whilst chapters one and two serve as a historical and philological introduction, the second part of this book concentrates on the close relationship between the development of allegoresis, on the one hand, and the flowering of philosophy, on the other. Thus, chapter three discusses the crucial role that allegorical interpretation came to play in Preplatonic philosophy, chapter four deals with Plato’s highly complex and ambivalent attitude to allegoresis, and chapter five has been devoted to Aristotle’s original approach to the practice of allegorical interpretation. It is evident that allegoresis was of paramount importance for the ancient thinkers, irrespective of whether they would value it positively (Preplatonic philosophers and Aristotle) or negatively (Plato). Beginning with the 6th century B.C., the ancient practice of allegorical interpretation is motivated by two distinct interests. On the one hand, the practice of allegorical interpretation reflects the more or less “conservative” attachment to the authority of the poet (whether Homer, Hesiod or Orpheus). The purpose of this apologetic allegoresis is to exonerate poetry from the charges leveled at it by the first philosophers and, though to a lesser degree, historians. Generally, these allegorists seek to save the traditional paideia that builds on the works of the poets. On the other hand, the practice of allegorical interpretation reflects also the more or less “progressive” desire to make original use of the authority of the poet (whether Homer, Hesiod or Orpheus) so as to promote a given philosophical doctrine. The objective of this instrumental allegoresis is to exculpate philosophy from the accusations brought against it by the more conservative circles. Needless to say, these allegorists significantly contribute to the process of the gradual replacing of the mythical view of the world with its more philosophical explanation. The present book suggests that it is the philosophy of Aristotle that should be regarded as a sort of acme in the development of ancient hermeneutics. The reasons for this are twofold. On the one hand, the Stagirite positively values the practice of allegoresis, rehabilitating, thus, the tradition of Preplatonic philosophy against Plato. And, on the other hand, Aristotle initiates the theoretical reflection on figurative (“enigmatic”) language. Hence, in Aristotle we encounter not only the practice of allegoresis, but also the theory of allegory (although the philosopher does not use the term allēgoría). With the situation being as it is, the significance of Aristotle’s work cannot be overestimated. First of all, the Stagirite introduces the concept of metaphor into the then philosophical considerations. From that moment onwards, the phenomenon of figurative language becomes an important philosophical issue. After Aristo-tle, the preponderance of thinkers would feel obliged to specify the rules for the appropriate use of figurative language and the techniques of its correct interpretation. Furthermore, Aristotle ascribes to metaphor (and to various other “excellent” sayings) the function of increasing and enhancing our knowledge. Thus, according to the Stagirite, figurative language is not only an ornamental device, but it can also have a significant explanatory power. Finally, Aristotle observes that figurative expressions cause words to become ambiguous. In this context, the philosopher notices that ambiguity can enrich the language of a poet, but it can also hinder a dialectical discussion. Accordingly, Aristotle is inclined to value polysemy either positively or negatively. Importantly, however, the Stagirite is perfectly aware of the fact that in natural languages ambiguity is unavoidable. This is why Aristotle initiates a syste-matic reflection on the phenomenon of ambiguity and distinguishes its various kinds. In Aristotle, ambiguity is, then, both a problem that needs to be identified and a tool that can help in elucidating intricate philosophical issues. This unique approach to ambiguity and figurative (“enigmatic”) language enabled Aristotle to formulate invaluable intuitions that still await appropriate recognition.

W stronę uniwersytetu jako instytucji dobra wspólnego. Filozoficzne podstawy krytycznych badań nad szkolnictwem wyższym

Wydział Nauk Społecznych: Instytut Filozofii

Constructing Universities as Organizations: University Reforms in Poland in the Light of Institutional Theory

This chapter shows that apart from changes at the systemic and institutional levels, successful reform implementation struggles with a gradual change in academic beliefs, attitudes and behaviours. Currently, visions of the university proposed by the Polish academic community and visions of it proposed by Polish reformers and policymakers (within ongoing reforms) are worlds apart. I shall study recent reforms in the context of specific academic self--protective narratives being produced in the last two decades (at the collective level of the academic profession) and in the context of the Ivory Tower university ideals predominant at the individual level (as studied comparatively through a large--scale European survey of the academic profession). Institutions change both swiftly, radically – and slowly, gradually. Research literature on institutional change until recently was focused almost exclusively on the role of radical changes caused by external shocks, leading to radical institutional reconfigurations. And research literature about the gradual, incremental institutional change have been emergent for about a decade and a half now (Mahoney and Thelen 2010; Streeck and Thelen 2005, 2009; Thelen 2003). Polish higher education provides interesting empirical grounds to test institutional theories. Both types of transformations (radical and gradual) may lead to equally permanent changes in the functioning of institutions, equally deep transformations of their fundamental rules, norms and operating procedures. Questions about institutional change are questions about characteristics of institutions undergoing changes. Endogenous institutional change is as important as exogenous change (Mahoney and Thelen 2010: 3). Moments in which there emerge opportunities of performing deep institutional reforms are short (in Poland these moments occurred in 2009-2012), and between them there are long periods of institutional stasis and stability (Pierson 2004: 134-135). The premises of theories of institutional change can be applied systematically to a system of higher education which shows an unprecedented rate of change and which is exposed to broad, fundamental reform programmes. There are many ways to discuss the Kudrycka reforms - and "constructing Polish universities as organizations" (rather than traditional academic "institutions") is one of more promising. In this account, Polish universities are under construction as organizations, and under siege as institutions. They are being rationalized as organizations, following instrumental rather than institutional logics. Polish academics in their views and attitudes are still following an institutional logic, while Polish reforms are following the new (New Public Management-led) instrumental logics. Both are on a collision course about basic values. Reforms and reformees seem to be worlds apart. I am discussing the the two contrasting visions of the university and describing the Kudrycka reforms as the reistitutionalization of the research mission of Polish universities. The core of reforms is a new level of funding and governance - the intermediary one (and no longer the state one), with four new peer-run institutions, with the KEJN, PKA and NCN in the lead. Poland has been beginning to follow the "global rules of the academic game" since 2009. I am also discussing two academic self-protection modes agains reforms: (Polish) "national academic traditions" and "institutional exceptionalism" (of Polish HE). Both discourses prevailed for two decades, none seems socially (and politically) acceptable any more. Old myths do not seem to fit new realities. In this context I am discussing briefly and through large-scale empirical data the low connectedness to the outside world of Polish HE institutions, low influence of the government on HE policies and the low level of academic entrepreneurialism, as seen through the EUROAC/CAP micro-level data. The conclusion is that the Kudrycka reforms are an imporant first step only - Poland is too slow in reforms, and reforms are both underfunded and inconsistent. Poland is still accumulating disadvantages as public funding and university reforms have not reached a critical point. Ever more efforts lead to ever less results, as macro-level data show. Consequently, it may be useful to construct universities as organizations in Poland to a higher degree than elsewhere in Europe, and especially in Western Europe.

The Role of Arts in the Process of Leadership Formation and Ecclesial Transformation

This dissertation investigates how the arts can be instrumental in the process of leadership formation and church transformation. By synthesizing results of an evaluation survey with a holistic-inductive design of inquiry, this dissertation demonstrates that the arts, as expressions of faith, can be transformative. By presenting the arts program at the Old West Church in Boston, which integrates arts as a medium for the expression of the Christian faith, this dissertation provides biblical, theological, and practical frameworks for reflecting on the transformative character of arts in the process of leadership formation and church transformation.

The Cache Inference Problem and its Application to Content and Request Routing

In many networked applications, independent caching agents cooperate by servicing each other's miss streams, without revealing the operational details of the caching mechanisms they employ. Inference of such details could be instrumental for many other processes. For example, it could be used for optimized forwarding (or routing) of one's own miss stream (or content) to available proxy caches, or for making cache-aware resource management decisions. In this paper, we introduce the Cache Inference Problem (CIP) as that of inferring the characteristics of a caching agent, given the miss stream of that agent. While CIP is insolvable in its most general form, there are special cases of practical importance in which it is, including when the request stream follows an Independent Reference Model (IRM) with generalized power-law (GPL) demand distribution. To that end, we design two basic "litmus" tests that are able to detect LFU and LRU replacement policies, the effective size of the cache and of the object universe, and the skewness of the GPL demand for objects. Using extensive experiments under synthetic as well as real traces, we show that our methods infer such characteristics accurately and quite efficiently, and that they remain robust even when the IRM/GPL assumptions do not hold, and even when the underlying replacement policies are not "pure" LFU or LRU. We exemplify the value of our inference framework by considering example applications.

Student voice in Irish post-primary schools: a drama of voices

This research is an exploration of the expression of student voice in Irish post-primary schools and how its affordance could impact on students’ and teachers’ experiences in the classroom, and at whole-school level through a student council. Student voice refers to the inclusion of students in decisions that shape their experiences in classrooms and schools, and is fundamental to a rights-based perspective that facilitates students to have a voice and a say in their education. Student voice is essential to the development of democratic principles, active citizenship, and learning and pedagogy. This qualitative research, based in three post-primary case-study schools, concerns teachers in eighteen classrooms engaging in dialogic consultation with their students over one school year. Teachers considered the students’ commentary and then adjusted their practice. The operation of student councils was also examined through the voices of council members, liaison teachers and school principals. Theorised within socio-cultural (social constructivist), social constructionist and poststructural frames, the complexity of student voice emerges from its conceptualisation and enactment. Affording students a voice in their classroom presented positive findings in the context of relationships, pedagogical change and students’ engagement, participation and achievement. The power and authority of the teacher and discordant student voices, particularly relating to examinations, presented challenges affecting teachers’ practice and students’ expectations. The functional redundancy of the student council as a construct for student voice at whole-school level, and its partial redundancy as a construct to reflect prefigurative democracy and active citizenship also emerge from the research. Current policy initiatives in Irish education situate student voice in pedagogy and as dialogic consultation at classroom and whole-school level. This work endorses the necessity for and benefit of such a positioning with the author further arguing that it should not become the instrumental student voice of data source, accountability and performativity.

The quality of diabetes care in the community: practice, policy and culture

Aim: Diabetes is an important barometer of health system performance. This chronic condition is a source of significant morbidity, premature mortality and a major contributor to health care costs. There is an increasing focus internationally, and more recently nationally, on system, practice and professional-level initiatives to promote the quality of care. The aim of this thesis was to investigate the ‘quality chasm’ around the organisation and delivery of diabetes care in general practice, to explore GPs’ attitudes to engaging in quality improvement activities and to examine efforts to improve the quality of diabetes care in Ireland from practice to policy. Methods: Quantitative and qualitative methods were used. As part of a mixed methods sequential design, a postal survey of 600 GPs was conducted to assess the organization of care. This was followed by an in-depth qualitative study using semi-structured interviews with a purposive sample of 31 GPs from urban and rural areas. The qualitative methodology was also used to examine GPs’ attitudes to engaging in quality improvement. Data were analysed using a Framework approach. A 2nd observation study was used to assess the quality of care in 63 practices with a special interest in diabetes. Data on 3010 adults with Type 2 diabetes from 3 primary care initiatives were analysed and the results were benchmarked against national guidelines and standards of care in the UK. The final study was an instrumental case study of policy formulation. Semi-structured interviews were conducted with 15 members of the Expert Advisory Group (EAG) for Diabetes. Thematic analysis was applied to the data using 3 theories of the policy process as analytical tools. Results: The survey response rate was 44% (n=262). Results suggested care delivery was largely unstructured; 45% of GPs had a diabetes register (n=157), 53% reported using guidelines (n=140), 30% had formal call recall system (n=78) and 24% had none of these organizational features (n=62). Only 10% of GPs had a formal shared protocol with the local hospital specialist diabetes team (n=26). The lack of coordination between settings was identified as a major barrier to providing optimal care leading to waiting times, overburdened hospitals and avoidable duplication. The lack of remuneration for chronic disease management had a ripple effect also creating costs for patients and apathy among GPs. There was also a sense of inertia around quality improvement activities particularly at a national level. This attitude was strongly influenced by previous experiences of change in the health system. In contrast GP’s spoke positively about change at a local level which was facilitated by a practice ethos, leadership and special interest in diabetes. The 2nd quantitative study found that practices with a special interest in diabetes achieved a standard of care comparable to the UK in terms of the recording of clinical processes of care and the achievement of clinical targets; 35% of patients reached the HbA1c target of <6.5% compared to 26% in England and Wales. With regard to diabetes policy formulation, the evolving process of action and inaction was best described by the Multiple Streams Theory. Within the EAG, the formulation of recommendations was facilitated by overarching agreement on the “obvious” priorities while the details of proposals were influenced by personal preferences and local capacity. In contrast the national decision-making process was protracted and ambiguous. The lack of impetus from senior management coupled with the lack of power conferred on the EAG impeded progress. Conclusions: The findings highlight the inconsistency of diabetes care in Ireland. The main barriers to optimal diabetes management center on the organization and coordination of care at the systems level with consequences for practice, providers and patients. Quality improvement initiatives need to stimulate a sense of ownership and interest among frontline service providers to address the local sense of inertia to national change. To date quality improvement in diabetes care has been largely dependent the “special interest” of professionals. The challenge for the Irish health system is to embed this activity as part of routine practice, professional responsibility and the underlying health care culture.

Composition portfolio and commentaries

In an attempt to provide an analytical entry point into my compositional practice, I have identified eight themes which are significantly recurrent: reduction – the selection of a small number of elements; imperfection – a damaged or warped characteristic of sound; hierarchy – a concern with the roles of instruments with regard to their relative prominence; motion – apparently static sound masses consist of fine internal movement; listener perception – expectations for change influence the experience of affect; translation – the transitioning of electronic sounds to the acoustic realm, and vice versa; immersion – the creation of an accommodating soundscape; blurring – smearing and overlapping sounds or genres. Each of these eight factors is associated with relevant precedents in the history and theory of music that have been influential on my work. These include the minimalist compositions of Steve Reich and Arvo Pärt; the lo-fi aesthetic of Boards of Canada and My Bloody Valentine; concerns with political hierarchy in the work of Louis Andriessen; the variations of dynamics and microtonal shifts of Giacinto Scelsi; Leonard B. Meyer's account of expectation in music; cross-fertilisation of the acoustic and electronic in pieces by Gérard Grisey and Gyorgy Ligeti; the immersive technique of Brian Eno's ambient music; and the overlapping sounds of Aphex Twin. These eight factors are variously applicable to the eleven submitted pieces, which are individually analysed with reference to the most significant of the categories. Together they form a musical language that sustains the interaction of a variety of techniques, concepts and genres.

Living with acquired brain injury

This study found that natural community supports were comprised of two distinct groupings; firstly immediate families, friends and peer support groups; secondly neighbours and local community groups such as sporting and activity- based organisations and groups. The findings of this study indicate that living with acquired brain injury involves a process where the person moves from acute high intensity health services onto rehabilitative services and then onto re-establishing independent lives. It is evident that smooth transitions and interconnectivity of services are essential in facilitating this recovery process. Instrumental to the recovery is the support of immediate family and close friends, who form people’s immediate natural support network and go a long way towards facilitating individuals in rebuilding their lives. A key finding of this study is that broader natural community supports do not appear to play as central a role in supporting individuals to live independent lives when compared to the role of family and friends. The lack of involvement of broader community groups, in many ways, prompted individuals to contact formal support services. For the majority of participants, independence is facilitated through the combination of immediate natural community supports and formal services. The role of formal support services is key to developing broader community support networks. This study found a blurred division between formal services and broader community support networks. The authors recommended that the role of formal supports services in acting as a bridge between the needs of the individual and the development of meaningful community networks, be formally recognised and further developed. Additionally, they argued that the importance of the role of broader natural community, supports such as those provided by community and sporting groups must be enhanced. Greater awareness of the issues faced by people living with acquired brain injury and its often invisible nature is necessary in this endeavour. The authors stated it is important to recognise that there are multiple issues impacting on independent living and these issues intersect, for instance with age, gender, employment, qualifications and so on. A lack of public awareness of acquired brain injury was found to be a key barrier to independent living, along with issues relating to socialising, access to employment and finances. The findings of this study reflect the complexities of living with acquired brain injury and the need for holistic support that is cognisant of the factors which impact on integration. It is vital that flexible, personalised services are developed which are fit for purpose and meet the needs of not only people with acquired brain injury but also their immediate natural community support network. Recognition of the intersection between immediate/ broader natural community supports and formal services is also key to developing the comprehensive and practical supports required to achieve an independent life. This was a qualitative study and all participants were sourced through Headway, a community based service provider for people with ABI. Data collection was divided into two stages: firstly focus groups, followed by individual interviews. Four focus groups were convened in Cork (2), Dublin (1) and Limerick (1). Each focus group was facilitated by at least two members of the research team and a total of twenty-six individuals participated in the focus groups. Thematic analysis of the data was undertaken to guide and inform the second stage of the study; the individual interviews. Ten interviews were undertaken with individuals who presented with ABI in the Cork and Limerick regions.

The impact of first pregnancy and delivery on pelvic floor dysfunction

Background: The first childbirth has the greatest impact on a woman’s pelvic floor when major changes occur. The aim of this study was to comprehensively describe pelvic floor dysfunction (PFD) in young nulliparous women, and its correlation with postnatal pathology. Methods: A prospective study was performed at Cork University Maternity Hospital, Ireland. Initially 1484 nulliparous women completed the validated Australian Pelvic Floor Questionnaire at 15 weeks’ gestation and repeatedly at one year postnatally (N=872). In the second phase, at least one year postnatally, 202 participants without subsequent pregnancies attended the clinical follow up which included: pelvic organ prolapse quantification, a 3D-Transperineal ultrasound scan and collagen level assessment. Results: A high pre-pregnancy prevalence of various types of PFD was detected, which in the majority of cases persisted postnatally and included multiple types of PFD. The first birth had a negative impact on severity of pre-pregnancy symptoms in <15% of cases. Apart from prolapse, vaginal delivery, including instrumental delivery did not increase the risk of PFD symptoms, where as Caesarean section was protective for all types of PFD. The first birth had a bigger impact on pre-existing symptoms of overactive bladder compared to stress urinary incontinence. Pelvic organ prolapse is extremely prevalent in young primiparous women, however usually it is low grade and asymptomatic. Congenital factors and high collagen type III levels play an important role in the aetiology of pelvic organs prolapse. Levator ani trauma is present in one in three women after the first pregnancy and delivery. Conclusion: The main damage to the pelvic floor most likely occurs due to an undiagnosed congenital intrinsic weakness of the pelvic floor structures. PFD is highly associated with first childbirth, however it seems that pregnancy and delivery are contributing factors only which unmask the congenital intrinsic weakness of the pelvic floor support.

Shipping information pipeline: initial design principles

This paper presents a design science approach to solving persistent problems in the international shipping eco system by creating the missing common information infrastructures. Specifically, this paper reports on an ongoing dialogue between stakeholders in the shipping industry and information systems researchers engaged in the design and development of a prototype for an innovative IT-artifact called Shipping Information Pipeline which is a kind of “an internet” for shipping information. The instrumental aim is to enable information seamlessly to cross the organizational boundaries and national borders within international shipping which is a rather complex domain. The intellectual objective is to generate and evaluate the efficacy and effectiveness of design principles for inter-organizational information infrastructures in the international shipping domain that can have positive impacts on global trade and local economies.

Weighted and two-stage least squares estimation of semiparametric truncated regression models

This paper provides a root-n consistent, asymptotically normal weighted least squares estimator of the coefficients in a truncated regression model. The distribution of the errors is unknown and permits general forms of unknown heteroskedasticity. Also provided is an instrumental variables based two-stage least squares estimator for this model, which can be used when some regressors are endogenous, mismeasured, or otherwise correlated with the errors. A simulation study indicates that the new estimators perform well in finite samples. Our limiting distribution theory includes a new asymptotic trimming result addressing the boundary bias in first-stage density estimation without knowledge of the support boundary. © 2007 Cambridge University Press.

Asset pricing in created markets

We investigate the applicability of the present-value asset pricing model to fishing quota markets by applying instrumental variable panel data estimation techniques to 15 years of market transactions from New Zealand's individual transferable quota (ITQ) market. In addition to the influence of current fishing rents, we explore the effect of market interest rates, risk, and expected changes in future rents on quota asset prices. The results indicate that quota asset prices are positively related to declines in interest rates, lower levels of risk, expected increases in future fish prices, and expected cost reductions from rationalization under the quota system. © 2007 American Agricultural Economics Association.