A NOTE ON HOLDING COSTS AND LOT-SIZE ERRORS

This note examines the sensitivity of the basic economic-order-quantity inventory model to lot-size errors when holding costs are assumed to be a strictly increasing (though not necessarily linear) function of average inventory. In particular, we show that the penalty associated with ordering either too much or too little is a function not only of the size of the error but of the shape of the holding-cost curve as well. We demonstrate that, under certain conditions, even relatively small lot-size errors can be extremely costly.     

FORECAST EVALUATION OF LIVINGSTON DATA ON INFLATION RATES AND INFLATION UNCERTAINTY*

Livingston data on expected inflation rates have been used extensively in the financial literature, especially in investgating the relationship between nominal interest rates and expected inflation rates; however, the data have not been subjected to a thorough analysis of forecast accuracy. The objective of this paper is to analyze the forecast properties of Livingston data using a wide variety of time and frequency domain methods over an extended sample period and for selected subperiods.     

Introspection as intra-professionalism in social and health care

This article analyses two cases from health and social care, adopting a psycho-societal approach. The analysis highlights how professionalism evolves and develops through an introspection of the relational and scenic processes between professionals, as well as between the professional and the client or patient. As a phenomenon at the core of professional practice, it will be argued that introspection needs to recognize and encompass the intra- and inter-psychic responses and understandings of professionals and their clients and patients. The first case places supervision as a learning space, where framing and complex exchanges of loss and confirmation, and of denial and displacement take place between a group of social workers and their supervisor. In the second case, it becomes apparent how the research interview opens up an opportunity for processing the emotions and socially critical experiences involved in hospital work.     

Outsourcing to emerging markets: Theoretical perspectives and policy implications

Creating value through outsourcing has emerged as a popular competitive strategy for firms in various industries. In order to survive in the domestic and international marketplaces, firms, especially in developed countries, are seeking opportunities offshore, which is one focus of globalization. Offshore outsourcing has emerged as a popular competitive strategy and emerging markets have become increasingly attractive locations. As firms in developed countries (e.g., the US) continue to face enormous challenges to sustain competitive advantage, outsourcing to emerging markets is becoming an increasingly important source of business renewal and corporate transformation.In spite of the growing strategic significance of sourcing, we have limited knowledge of offshoring and outsourcing to emerging markets. The objectives of this review are fourfold: (1) to provide a better understanding of the concepts of offshoring and outsourcing business models, (2) to discuss relevant theoretical perspectives related to outsourcing, (3) to present a taxonomy of outsourcing strategies drawing on the extant literature, and (4) to discuss public policy implications. Conclusions and direction for future research are provided.     

Accent on Teaching Materials

This department includes the two sections New Developments in Statistical Computing and Statistical Computing Software Reviews; suitable contents for each of these sections are described under the respective section heading. Articles submitted for the department, outside the two sections, should not be highly technical and should be relevant to the teaching or practice of statistical computing.

An unbiased estimator of e is used to motivate a simple simulation exercise that requires only observations from the distribution uniform on (0, 1). Antithetic variables are introduced and applied to the simulation problem to give a second unbiased estimator of e with reduced variance.     

Self-exclusion: A Proposed Gateway to Treatment Model

Self-exclusion is a programme utilized by the gaming industry to limit access to gaming opportunities for problem gamblers. It is based on the following principles: (1) The gaming industry recognizes that a proportion of community members gamble excessively and have difficulty controlling gambling behaviours; (2) The gaming industry has a responsibility to provide a safe gaming environment and to assist in minimizing the negative impact on individuals displaying problem gambling behaviours; (3) Individuals must accept personal responsibility for limiting gambling behaviours to affordable levels; and (4) Self-exclusion is not a treatment designed to address psychological processes. The objective of the present paper is to propose a unifying structure for self-exclusion programmes as a gateway to treatment based on a system operated by independent ‘educators’ whose roles and responsibilities include informing individuals of the purpose of self-exclusion, establishing links and a gateway for access to supplementary services and monitoring and reporting the effectiveness of the overall programme.