DESIGNING ORDER‐BOOK TRANSPARENCY IN ELECTRONIC COMMUNICATION NETWORKS

A significant fraction of trade in stock exchanges (e.g., Euronext and NASDAQ) involves ‘iceberg orders’, which are orders to sell or buy a certain number of shares with the caveat that only a part of that number be made public. This paper provides a normative justification for the lack of transparency in this kind of order: imperfect disclosure is shown to be a necessary feature of any optimal mechanism when the asset's potential buyers must incur a cost in order to become active and learn their valuations for the asset. This finding raises a caveat for regulation that seeks to mandate the open order book or otherwise increase the pre‐trade transparency of stock exchanges.     

OPTIMAL AGING AND DEATH: UNDERSTANDING THE PRESTON CURVE

Does prosperity lead to greater longevity? If so, what is the strength of the income channel? To address these questions we develop a life cycle model in which households are subject to physiological aging. In modeling aging we draw on recent research in the fields of biology and medicine. The speed of the aging process, and thus the age of death, are endogenously determined by optimal health investments. A calibrated version of the model accounts well for the observed nonlinear cross‐country link between longevity and income, also known as the Preston curve.     

Technology roadmapping for technology-based product-service integration: A case study

Today, since a single product is no longer sufficient to cope with the dynamic market environment, firms are trying to provide the integrated offering of products and services. However, despite the importance and utility of product-service integration, a limited approach has been conducted regarding the planning of the strategic management of integrated offering. To deal with this issue, this paper firstly suggests the concept and typology of technological interface in product-service integration. Based on the technological interface, a generic structure of product-service integrated roadmap is developed. Extended from the generic structure, this paper finally proposes the typological configurations of integrated roadmap according to the technological interface and investigates the usage, characteristics, and roadmapping processes.     

Stakeholders’ roles in virtual project environment: A case study

The rising cost of resources within an organization, increasing capability of information technology, the need to conduct project at different places and availability of competent and inexpensive manpower elsewhere have promoted many companies to adopt project development in a virtual environment. Large scale projects have several full fledged projects conducted by different organizations. Therefore, such projects are called the project of projects (PoPs) here. As PoPs are influenced by stakeholders throughout the project lifecycle, the integration of various projects becomes challenging due to the risks associated with misaligned perceptions, cost, schedule, quality, human resources and communication.This paper describes project context and influencing factors for a PoP's progress in virtual environment and they are explained in terms of two case projects conducted by the author. It is highlighted that communication is an important issue when projects are conducted in virtual environment with different work culture. The communication models and case examples provided here are expected to add knowledge to managing projects in virtual environment.     

从波兰海报设计看中国当代设计问题

波兰的海报设计在世界上享有盛名,无论是政治题材的海报还是其它内容的海报,都具有独特的风格。在国内的设计理论界,也有不少文章介绍波兰海报设计,但是能够将其与国内平面设计的现状进行结合研究者甚少。重点阐述波兰在海报设计方面取得的成就以及中国平面设计能够从中吸收和借鉴的宝贵经验。     

催化光度法测定痕量亚硝酸根

基于亚硝酸根对溴酸钾氧化三氯偶氮氯膦的催化作用，研究并建立了新的痕量亚硝酸根的催化动力学光度分析法，方法的检出限是0．05μg/L，测量的线性范围为0．05－25．00μg/L。本法可直接用于火腿、香肠、腊肠等样品中痕量亚硝酸根的测定，结果令人满意。     

Analyzing social processes: Life tables and proportional hazards models

A number of techniques useful in describing and modeling social processes are detailed. Emphasis is placed on the analysis of changes in categorical variables as they occur in continuous time. The procedures considered are mainly non-parametric, although parametric alternatives do exist when the appropriate distributional assumptions are met. Specifically, life tables and proportional hazards models are discussed and illustrated through an analysis of first live birth intervals for a sample of white American women. The generality of proportional hazards models is outlined by considering extensions of the basic model to include competing risks, time-dependent covariates, and repeatable events.     

Convergence of ecological footprint and sustainable policy options

Human activities impact on environment and resources needs policy actions. We provide a new multivariate model which helps to assess how to shape and quantify appropriate policy responses taking into account equity and sustainability. The model analyzes the joint dynamic growth rate of three relevant components of ecological footprint: cropland factor; water resources usage; CO2 emissions, estimating their joint rate of convergence, explicitly including conditioning variables, in the period 1971–2018. This model provides a quantitative assessment of the determinants of convergence across countries, that might help policy makers to take measures to enhance the success of achieving the target. Results show that countries with lowest levels of the ecological footprint components are growing faster than those countries with the highest level of these components. In addition, a higher participation to the international trade (openness of the economy) and a higher investment share is beneficial to accelerate the countries’ dynamics toward a converging path characterized by a more sustainable ecological footprint.     

SLOW INFORMATION DIFFUSION AND THE INERTIAL BEHAVIOR OF DURABLE CONSUMPTION

This paper studies the aggregate dynamics of durable and nondurable consumption under slow information diffusion (SID) due to noisy observations and learning within the permanent income hypothesis framework. We show that SID can significantly improve the model's predictions on the joint behavior of income, durable consumption, and nondurable consumption at the aggregate level. Specifically, we find that SID can significantly improve the model's predictions for: (i) smoothness in durable and nondurable consumption, (ii) autocorrelation of durable consumption, and (iii) contemporaneous correlation between durable and nondurable consumption.     

The influence of retail outlet and FSMA information on consumer perceptions of and willingness to pay for organic grape tomatoes

The primary objective of this research was to determine the effect of retail outlet (supercenter, supermarket, farmers market, fresh format) on consumer perceptions of and willingness to pay (WTP) for organic grape tomatoes. Also examined was whether information on the proposed Food Safety Modernization Act (FSMA) regulations, with and without information on tomato safety, altered these aspects across retail outlets. Field experiments were conducted with 207 participants in two U.S. states in fall 2014 to address these questions. Consumers’ perceptions and WTP varied significantly by retail outlet, with farmers markets and fresh format stores receiving the most favorable evaluations and supercenters the least. With FSMA information, safety perceptions fell significantly for the favored outlets and mostly increased for supercenters. Participants’ felt no producers should be exempt from the FSMA and viewed farmers markets vendors as most likely to be exempt. Unexpectedly though, these changes seldom translated into changes in WTP. Further, in treatments with added tomato safety information, supercenters saw no safety rating benefit. Overall, it was clear the organic label was not viewed equally across different retail outlets.