A Continuous Representation of the Family of Stable Law Distributions

Conventional parametric representations of stable law distributions do not allow all members of the family to be obtained as continuous limits of the parameters. Model building (or simulation) using such representations will be numerically unstable near such limits in consequence. Existing tables are not satisfactory near such limits as interpolation cannot be carried out. We show that these difficulties are overcome by using a new shifted Cartesian representation which characterizes the entire stable law family in a completely continuous way. Standardization is still possible with this representation so that tabulation, using just two bounded parameters, can be carried out. Its use is illustrated in a non-regular threshold estimation problem involving stable distributions which are discontinuous limits in conventional representations.     

A Perspective on Dioxin Emissions from Municipal Solid Waste Incinerators

This paper discusses the following key issues concerning human exposure to dioxins and furans emitted from typical, modern MSW incinerators: (1) Are MSW incinerators the major source of PCDD/PCDF input into the environment? (2) Are environmental concentrations around MSW incinerators substantially elevated relative to background levels? And (3) are MSW incinerators the major source of human exposure to PCDDs and PCDFs? Current scientific evidence indicates that (1) combustion sources in general (including steel mills, copper smelting plants, motor vehicles, pulp and paper mills, and MSW incinerators) are major sources of PCDD/PCDF input in the environment; (2) environmental concentrations of PCDDs and PCDFs around operating MSW incinerators are not substantially elevated; and (3) 99% of human exposure to PCDDs and PCDFs is from background contamination, even for individuals living near a modern MSW incinerator.     

Critical decision areas in corporate financial policy

The argument in this paper rests on the assumption that the prime objective of any corporate activity must in some way be related to a profitability goal, however this may be measured, however this may be defined, and however this may be constrained by the relevance of a times-cale.

The paper makes some comments on the selection of a corporate objective or goal but mainly it considers the direct contribution that financial management can make to achievement of this goal. It distinguishes this from the accounting rôle which is more appropriately concerned with measuring and monitoring progress towards the goal.     

State lotteries and compulsive gambling

The legalization of gambling, including state lotteries, has resulted in a dramatic increase of compulsive gambling. Not surprisingly, a new profile of compulsive gambler has emerged which differs significantly from the previous profile of white, middle aged, middle class male. This paper discusses public policy issues, lottery advertising, and legislative/lottery support given to address the problems of compulsive gambling.     

The abortion issue and Title VII employment discrimination: The microcosm of the law

This paper presents a discussion of a 1989 United States federal appeals court ruling in the case of Doe v. First National Bank. The case is the first ruling on the federal appellate level involving a claim of Title VII employment discrimination based upon alleged employer knowledge of and animus towards an employee who had undergone an abortion. Doe raises the ethical questions of how a highly charged, national social issue can be reduced to interpersonal dealings between a supervisor and her subordinate in the workplace. The facts of the case are presented in a chronological manner, followed by a discussion of both the court rulings in the case and the utility of employing this case as an excellent tool in the teaching of business ethics and society.