A New Look at an Old Test

Fisher's exact test for 2 × 2 frequency tables is presented in a new format which, we believe, is easier to use and which permits a substantial saving in tabulation-space of critical values. Tables are provided here for total frequency N ≤ 25. Tables for N ≤ 100 are obtainable on request to the author     

On arbitration schemes for a wealth distribution problem

This paper develops an arbitration scheme for resolving a distribution of wealth problem by applying Nash's assumptions to marginal rather than to total utilities. The problem considered is that of distributing a fixed amount of wealth between two claimants, and the paper compares properties of this problem's Nash solution with those of the marginal utility solution. The Nash solution is shown to emphasize application of symmetry considerations to the status quo ante, the marginal utility solution their application to the players' post arbitration positions (as measured by functions that fully describe the players' utilities but that are independent of positive linear transformations). It is argued that while the Nash assumptions are appropriate for many arbitration problems in which a solution reflects the players' status quo ante positions, the marginal utility assumptions are useful when it is desired that a solution attempt to minimize post-arbitration differences between the players' positions. The latter seems to be preferable in contexts where an arbitrator weights the solution's effects on out-comes more heavily than he weights considerations of the status quo ante. Examples are situations such as those involving income redistribution, where attempts to reduce inequality may guide the redistribution decisions. The effects on each type of solution of changes in the status quo ante are also investigated and related to the risk preference properties of the players' utilities.     

I can hear the birds: using audio recordings to assess perceptions of amenity in urban riparian environments

Urban Ecosystems - The restorative qualities of nature (amenity values) have been explored for their benefits to human wellbeing. Yet methodology to assess restorative qualities is generally...     

Knowledge, innovation and share value

Knowledge–based enterprises (KBEs) are difficult to value owing to the relatively greater importance of their intangible assets, such as human capital and investment in innovation. Traditional valuation models rely on variables such as earnings, dividends and assets, which, for many KBEs, are either non–existent or are distorted by differing accounting practices. This paper reviews the various attempts by practitioners and academics to overcome these difficulties by such devices as different proxies for the valuation variables or different forms of the valuation equations. We then examine some theoretical approaches that provide novel approaches to valuation. Finally, we discuss the notion of the 'fuzzy firm', where traditional corporate boundaries have become amorphous, with the result that the firms require new valuation methodologies.