Paths of the least resistance:understanding how motives form in international retail joint venturing

Developing the premise that strategies are forged through an ongoing mutual process of developing motives and responses to multiple degrees of resistance, this paper examines the motives underpinning the adoption of joint venture strategies using empirical details from four British retail firms. The findings point to multiple motives forming from multiple paths of resistance in the foreign market, but also among individuals within the firm as well as across the whole international programme. Moreover, this study reveals a paradoxical tension between management's operational impatience to immediately ground the retail format and an overall wariness or gloomy perceptions associated with adopting an international retail joint venture. The paper therefore concludes that the motives and barriers are manifestations of the struggles involved in internationalising retail operations.

Rebuilding the city:a focus for European industrial policy?

While the city offers the potential of dynamic agglomeration economies which can spur the achievement of economic growth and act as an engine that powers the economy, it often appears as a centre of crisis in mature ‘developed’ regions and countries, even before the most recent economic downturn. This paper attempts to reconcile these two seemingly paradoxical observations by bringing in a strategic choice perspective to explain how concentrated strategic decision making in the corporate entities that dominate our cities has diminished the very diversity that Jacobs identified as being essential for cities to flourish and develop. The industrial policy implications for cities are subsequently explored in terms of building new industrial districts, developing high skill ecosystems, and fostering multinational webs of cities, all with the aim of ensuring the conditions exist in cities for creativity and development to flourish, notably a diverse and democratic economic system.

Investigating evoked and induced electroencephalogram activity in task-related alpha power increases during an internally directed attention task

This study sought to explore whether the so-called 'paradoxical' task-related increases in the alpha bandwidth of the human electroencephalogram result from increases in evoked (phase locked), as opposed to induced (non-phase locked), activity. The electroencephalograms of 18 participants were recorded while they engaged in both auditory sensory-intake tasks (listening to randomly generated 'tunes') and internally directed attention tasks (imagining the same randomly generated tunes) matched for auditory input. Measures of evoked (phase locked) and induced (non-phase locked) activity were compared between tasks. Increases in induced alpha power were found during internal attention. No experimental effects were observed for evoked activity. These results are not entirely consistent with proposals that 'paradoxical' alpha indexes the evoked inhibition of task irrelevant processing.

Morphological-compound dysgraphia in an aphasic patient:"A wild write through the lexicon"

We describe the case of a dysgraphic aphasic individual-S.G.W.-who, in writing to dictation, produced high rates of formally related errors consisting of both lexical substitutions and what we call morphological-compound errors involving legal or illegal combinations of morphemes. These errors were produced in the context of a minimal number of semantic errors. We could exclude problems with phonological discrimination and phonological short-term memory. We also excluded rapid decay of lexical information and/or weak activation of word forms and letter representations since S.G.W.'s spelling showed no effect of delay and no consistent length effects, but, instead, paradoxical complexity effects with segmental, lexical, and morphological errors that were more complex than the target. The case of S.G.W. strongly resembles that of another dysgraphic individual reported in the literature-D.W.-suggesting that this pattern of errors can be replicated across patients. In particular, both patients show unusual errors resulting in the production of neologistic compounds (e.g., "bed button" in response to "bed"). These patterns can be explained if we accept two claims: (a) Brain damage can produce both a reduction and an increase in lexical activation; and (b) there are direct connections between phonological and orthographic lexical representations (a third spelling route). We suggest that both patients are suffering from a difficulty of lexical selection resulting from excessive activation of formally related lexical representations. This hypothesis is strongly supported by S.G.W.'s worse performance in spelling to dictation than in written naming, which shows that a phonological input, activating a cohort of formally related lexical representations, increases selection difficulties. © 2014 Taylor & Francis.

Did they ‘Read before burning’? The Coalition and quangos

Attitudes to quangos are paradoxical. On the one hand they are perceived to be undemocratic, unaccountable organisations, while on the other they are seen to improve effectiveness, limit political interference and increase public confidence in government. This paradox is reflected in the behaviour of political parties, which generally adopt a harsh line towards quangos in opposition, but come to rely on these bodies in office. Ahead of the 2010 general election it was, however, noticeable that the Conservative party rejected this dynamic by promising to pursue ‘a more sophisticated approach’. This article explores the Coalition government's subsequent ‘public bodies reform programme’, assessing its progress against recommendations contained within the Institute for Government's Read before Burning report of July 2010. It concludes that while the Coalition has addressed long-standing concerns about the day-to-day governance of public bodies, it has failed to resolve a set of broader and strategic (metagovernance) issues.

Perception of global image contrast is predicted by the same spatial integration model of gain control as detection and discrimination

How are the image statistics of global image contrast computed? We answered this by using a contrast-matching task for checkerboard configurations of ‘battenberg’ micro-patterns where the contrasts and spatial spreads of interdigitated pairs of micro-patterns were adjusted independently. Test stimuli were 20 × 20 arrays with various sized cluster widths, matched to standard patterns of uniform contrast. When one of the test patterns contained a pattern with much higher contrast than the other, that determined global pattern contrast, as in a max() operation. Crucially, however, the full matching functions had a curious intermediate region where low contrast additions for one pattern to intermediate contrasts of the other caused a paradoxical reduction in perceived global contrast. None of the following models predicted this: RMS, energy, linear sum, max, Legge and Foley. However, a gain control model incorporating wide-field integration and suppression of nonlinear contrast responses predicted the results with no free parameters. This model was derived from experiments on summation of contrast at threshold, and masking and summation effects in dipper functions. Those experiments were also inconsistent with the failed models above. Thus, we conclude that our contrast gain control model (Meese & Summers, 2007) describes a fundamental operation in human contrast vision.

Az egyensúlyi ráták unicitása és a bérráta pozitivitása a Neumann-modell általánosításaiban (Uniqueness of equilibrium rates and the positive value of the wage rate in generalizations from the Neumann model)

Cikkünk arról a paradox jelenségről szól, hogy a fogyasztást explicit módon megjelenítő Neumann-modell egyensúlyi megoldásaiban a munkabért meghatározó létszükségleti termékek ára esetenként nulla lehet, és emiatt a reálbér egyensúlyi értéke is nulla lesz. Ez a jelenség mindig bekövetkezik az olyan dekomponálható gazdaságok esetén, amelyekben eltérő növekedési és profitrátájú, alternatív egyensúlyi megoldások léteznek. A jelenség sokkal áttekinthetőbb formában tárgyalható a modell Leontief-eljárásra épülő egyszerűbb változatában is, amit ki is használunk. Megmutatjuk, hogy a legnagyobbnál alacsonyabb szintű növekedési tényezőjű megoldások közgazdasági szempontból értelmetlenek, és így érdektelenek. Ezzel voltaképpen egyrészt azt mutatjuk meg, hogy Neumann kiváló intuíciója jól működött, amikor ragaszkodott modellje egyértelmű megoldásához, másrészt pedig azt is, hogy ehhez nincs szükség a gazdaság dekomponálhatóságának feltételezésére. A vizsgált téma szorosan kapcsolódik az általános profitráta meghatározásának - Sraffa által modern formába öntött - Ricardo-féle elemzéséhez, illetve a neoklasszikus növekedéselmélet nevezetes bér-profit, illetve felhalmozás-fogyasztás átváltási határgörbéihez, ami jelzi a téma elméleti és elmélettörténeti érdekességét is. / === / In the Marx-Neumann version of the Neumann model introduced by Morishima, the use of commodities is split between production and consumption, and wages are determined as the cost of necessary consumption. In such a version it may occur that the equilibrium prices of all goods necessary for consumption are zero, so that the equilibrium wage rate becomes zero too. In fact such a paradoxical case will always arise when the economy is decomposable and the equilibrium not unique in terms of growth and interest rate. It can be shown that a zero equilibrium wage rate will appear in all equilibrium solutions where growth and interest rate are less than maximal. This is another proof of Neumann's genius and intuition, for he arrived at the uniqueness of equilibrium via an assumption that implied that the economy was indecomposable, a condition relaxed later by Kemeny, Morgenstern and Thompson. This situation occurs also in similar models based on Leontief technology and such versions of the Marx-Neumann model make the roots of the problem more apparent. Analysis of them also yields an interesting corollary to Ricardo's corn rate of profit: the real cause of the awkwardness is bad specification of the model: luxury commodities are introduced without there being a final demand for them, and production of them becomes a waste of resources. Bad model specification shows up as a consumption coefficient incompatible with the given technology in the more general model with joint production and technological choice. For the paradoxical situation implies the level of consumption could be raised and/or the intensity of labour diminished without lowering the equilibrium rate of the growth and interest. This entails wasteful use of resources and indicates again that the equilibrium conditions are improperly specified. It is shown that the conditions for equilibrium can and should be redefined for the Marx-Neumann model without assuming an indecomposable economy, in a way that ensures the existence of an equilibrium unique in terms of the growth and interest rate coupled with a positive value for the wage rate, so confirming Neumann's intuition. The proposed solution relates closely to findings of Bromek in a paper correcting Morishima's generalization of wage/profit and consumption/investment frontiers.

Információs paradoxon a vállalkozások hitelezésében nem fizető vevő esetén (An innovation paradox in enterprise financing where buyers fail to pay)

Cikkünkben a vállalkozók külső finanszírozásának modelljét terjesztjük ki arra az - irodalom által eddig nem tárgyalt - esetre, amikor a vállalkozónak van nem fizető vevője. Szerződéselméleti megközelítésünkben a vállalkozó hitelképességére vonatkozó információ aszimmetrikus a tranzakcióban részt vevő felek között, s ez morális kockázatnak ad teret. Megfigyelhető, hogy ilyenkor a pontosan fizető vevők számára is hitelszűke lép fel. A vállalkozó és a finanszírozó közötti optimális szerződés nem fizető vevő hatására további hitelszűkösséget generál. Két esetet vizsgálunk: az egyikben a vállalkozó információs előnyben van a vevő nemfizetésére vonatkozóan, a másikban nincs ilyen előny. A két modellváltozat alapján információs paradoxon jellemzi a kialakuló finanszírozási helyzetet: a vállalkozó kisebb összegű hitelhez jut az említett információs előnye esetén, mint amikor közte és a finanszírozó között szimmetrikus az információ. A modell azt a - magyar kis- és középvállalkozóknál látott - jelenséget írja le, amikor nem transzparens a szállító-vevő viszonya, és a finanszírozó bank e miatt az információs hátrány miatt kevesebb hitelt nyújt kis- és középvállalati ügyfeleinek. _____ The model of external financing of the firm is extended here to cases where there may be defaults on account receivables. Information asymmetry between entrepreneur and lender on a firm's creditworthiness leads to moral hazard and credit rationing, even in the absence of default risk. The authors show an optimal debt contract that formulates the situation, and focus on two cases: where the entrepreneur has an information advantage on defaults on receivables, and where the information is symmetric. A comparison of these cases revealed a paradoxical knowledge issue in external financing: a better informed entrepreneur may be able to afford a smaller financing ability. The model describes a frequent phenomenon in small businesses, when the relationship between buyer and seller lacks transparency, and lenders offer lower amount of lending to small and medium-sized enterprises.

Hirschman meets Williamson: Relationship-specific investment and loyalty

In Albert Hirschman’s theory, loyalty plays a key role in the equilibrium between exit and voice. This article extends economic (rational choice) analysis to the emergence of loyalty, which Hirschman considers an exogenous factor. This is accomplished by linking Williamson’s theory of specific investment to Hirschman’s model. Three cases are distinguished: (1) loyalty is due to specific investment; (2) loyalty is due to (intermediate) factors influenced by specific investment; and, (3) loyalty is independent of specific investment. A simple model formalizes the first case. A paradoxical dynamic of loyalty is identified: a lower degree of specificity may lead to a weakening of loyalty in the short run but astrengthening of loyalty in the long run. An application to the process of European integration is sketched.

A láthatatlan kéz – szemelvények egy metafora történetéből (The invisible hand - extracts from the history of a metaphor)

A láthatatlan kéz Adam Smith nyomán a közgazdaságtan legismertebb metaforája lett, de jelentősége és értelmezése máig megosztja a közgazdászokat és eszmetörténészeket. Az interpretációk skálája rendkívül széles: mértékadó közgazdászok szerint ez a közgazdaságtan alapeszméje, míg mások Smith ironikus tréfájának vélik. A tanulmány áttekinti a láthatatlan kéz Smith előtti használatát teológiai, politikai és irodalmi szövegekben és a hozzájuk kapcsolódó interpretációkat. Ezt követően bemutatja, hogyan alkalmazta Smith a nevezetes kifejezést a merkantilista politika ironikus és paradox kritikájaként, és miként került a 19. század végétől e metafora a Smith-olvasatokban központi helyre, majd miként vált kérdésessé ez a felfogás a 2008-as válság nyomán. ____ Adam Smith's phrase the invisible hand has become the best-known metaphor in economics, yet both its interpretation and its relevance are hotly debated by economists and intellectual historians. The range of opinions is wide: several leading economists view it as the founding idea in economics and social studies, some historians see it as an ironic jest by Smith. The study surveys the different uses of the metaphor in theological, political and literary texts before Smith and reconstructs the "invisible hand" passage in The Wealth of Nations as an ironic and paradoxical critique of mercantilist policy. A vast literature has emerged since the late 19th century treating the metaphor in various way, ranging from the description and justification of free markets to the claim that it is a purely fictitious mechanism. The critical approach to it has become stronger since the great recession of 2008.

Research on the influence of behavioral forces that motivate trader behavior and sentiment: A prospect theory exegesis

This study focuses on empirical investigations and seeks implications by utilizing three different methodologies to test various aspects of trader behavior. The first methodology utilizes Prospect Theory to determine trader behavior during periods of extreme wealth contracting periods. Secondly, a threshold model to examine the sentiment variable is formulated and thirdly a study is made of the contagion effect and trader behavior. ^ The connection between consumers' sense of financial well-being or sentiment and stock market performance has been studied at length. However, without data on actual versus experimental performance, implications based on this relationship are meaningless. The empirical agenda included examining a proprietary file of daily trader activities over a five-year period. Overall, during periods of extreme wealth altering conditions, traders "satisfice" rather than choose the "best" alternative. A trader's degree of loss aversion depends on his/her prior investment performance. A model that explains the behavior of traders during periods of turmoil is developed. Prospect Theory and the data file influenced the design of the model. ^ Additional research included testing a model that permitted the data to signal the crisis through a threshold model. The third empirical study sought to investigate the existence of contagion caused by declining global wealth effects using evidence from the mining industry in Canada. Contagion, where a financial crisis begins locally and subsequently spreads elsewhere, has been studied in terms of correlations among similar regions. The results provide support for Prospect Theory in two out of the three empirical studies. ^ The dissertation emphasizes the need for specifying precise, testable models of investors' expectations by providing tools to identify paradoxical behavior patterns. True enhancements in this field must include empirical research utilizing reliable data sources to mitigate data mining problems and allow researchers to distinguish between expectations-based and risk-based explanations of behavior. Through this type of research, it may be possible to systematically exploit "irrational" market behavior. ^

Freestyle Cruising: A Clear Alternative

The cruise industry is a highly complex, but under-research component of the hospitality industry. This article seeks to explore the paradoxical relationship between shipboard and shoreside operations using the McKinsey 7S Framework, thereby providing a foundation for further inquiry. Recommendations are made for practitioners, and ideas are provided for future research.

Shipboard vs. Shoreside Cruise Operations

The cruise industry is a highly complex, but under-researched component of the hospitality industry. This article seeks to explore the paradoxical relationship between shipboard and shore side operations using the McKinsey 7S Framework, thereby providing a foundation for further inquiry. Recommendations are made for practitioners, and ideas are provided for future research.

Postmortem Demonstration of the Source of Pulmonary Thromboembolism: The Importance of the Autopsy

Periprostatic or paravaginal venous thromboses are rarely considered clinically as sites of clot origin in patients with pulmonary thromboembolism. The majority of emboli have been demonstrated to originate in the veins of the legs. This report raises awareness of pelvic vein thrombosis as a potential source of pulmonary embolism that is rarely considered or detected clinically, and which usually requires postmortem examination for recognition. It also reviews the possible routes emboli may take to reach the lungs.

The World in Singing Made: David Markson's "Wittgenstein's Mistress"

In line with Wittgenstein's axiom that "what the solipsist means is quite correct; only it cannot be said, but makes itself manifest," this thesis aims to demonstrate how the gulf between analytic and continental philosophy can best be bridged through the mediation of art. The present thesis brings attention to Markson's work, lauded in the tradition of Faulkner, Joyce, and Lowry, as exemplary of the shift from modernity to postmodernity, wherein the human heart is not only in conflict with itself, but with the language out of which it is necessarily constituted. Markson limns the paradoxical condition of the subject severed from intersubjectivity, and affected not only by the grief of bereavement, which can be defined in Heideggarian terms as anxiety for the ontic negation of a being (i.e., death), but by loss, which I assert is the ontological ground for how Dasein encounters the nothing in anxiety proper.