Optimal hedging through limit orders

This article applies the methods of stochastic dynamic programming to a risk management problem, where an agent hedges her derivative position by submitting limit orders. Therefore, this model is the first, in the literature on optimal trading with limit orders, to handle a problem of hedging options or other derivatives. A hedging strategy is developed where both the size and the limit price of each order is optimally set.     

Family support in practice: voices from the field

This paper revisits core family support messages for social work practice in working with children and families, linking to findings from high-profile child protection cases in the UK and the Republic of Ireland. Drawing on a comparative study where these identified practice messages were explored through the lens of testimony of family support workers in the UK and Ireland, these core messages are examined. Operating with hard-to-engage children and parents, we hear how families and family support worker colleagues now view the core functions of child and family work across both jurisdictions (Ireland and England). The authors argue that by naming a more detailed set of practices that are deemed as most useful by families, based on the benefits and challenges of intensive family support work, key messages arise that have major resonance for social work and multiagency practice into the future. A basic message from this study is that valuable lessons on engagement and intervention with families can be drawn for professionals by examining the practice elements of this group of paraprofessionals in the child and family arena. This paper adds to debates on the role of support and intervention in social work and family support work.     

Asymmetric Choquet random walks and ambiguity aversion or seeking

Asymmetric Choquet random walks are defined, in the form of dynamically consistent random walks allowing for asymmetric conditional capacities. By revisiting Kast and Lapied (Dynamically consistent Choquet random walk and real investments. Document de Travail n. 2010-33, GREQAM, HAL id: halhs-00533826, 2010b) and Kast et al. (Econ Model, 38:495–503, 2014) we show that some findings regarding the effects of ambiguity aversion are preserved in the more general framework, which is of interest in several applications to policy making, risk management, corporate decisions, real option valuation of investment/ disinvestment projects, etc. The effect of ambiguity on the higher moments is investigated, as well, as they have an interpretation in terms of the psychological attitude of a decision-maker towards ambiguity. Finally, some financial applications are provided as an illustration.     

Models of Neurotoxicity: Extrapolation of Benchmark Doses in Vitro

In risk assessment, no observed exposure level (NOAEL) and benchmark dose (BMD) are usually derived either from epidemiological studies in humans or from animal experiments. In many in vitro studies, concentration-effect/response curves have been analyzed using different mathematical models finalized to the identification of EC50. In the present article, we propose a model to fit dose-response curves in vitro. The BMD approach has been used to compare the cell viability (MIT assay) of different rat (C6 and PC12, glial and neuronal, respectively) and human cell lines (D384 and SK-N-MC, glial and neuronal, respectively) after 24-hour exposure to the following neurotoxic substances: manganese chloride (MnCl2), methyl-mercury (Me-Hg), and the enantiomers of styrene oxide (SO). For all rat and human cell lines, the potency of the examined compounds was: MnCl2 < S-SO < R-SO < Me-Hg. A preliminary comparison with in vivo toxicity data for these substances gave rise to consistent results. Whereas a reasonable agreement between in vitro and in vivo data has been found for Mn and styrene oxide, a wide scatter of LOAEL has been reported for Me-Hg and these appear to be either much higher or lower than the BMD for the MIT assay we observed in vitro.     

What Influences Business Academics’ Use of the Association of Business Schools (ABS) List? Evidence From a Survey of UK Academics

The development of the Association of Business Schools (ABS) list in 2007 and its rapid adoption by UK business schools has had a profound effect on the nature of business and management academics’ ways of working. Using a large‐scale survey of UK business academics, we assess the extent to which individuals use the Academic Journal Guide (AJG/ABS) list in their day‐to‐day professional activities. In particular, we explore how their perceptions of the list, the academic influence of their research, academic rank and organizational context drive the varied use. Building on prior research on the importance of univalent attitudes in predicting behaviour, we find those who have either strong positive or negative views of the list are more extensive users than those who are ambivalent. We also find that the extent of use of the AJG/ABS list is greatest among those academics who have lower academic influence, in the middle or junior ranks within business schools and in middle and low‐status universities. We explore the implications of these findings for the value of journal rankings and for the management of business schools.     

Understanding and negotiating identity: Children from cross-community families in public care in Northern Ireland

In Northern Ireland, most research on the impact upon children of living through the ‘troubles’ and in a divided society has assumed that children are from either the Catholic or Protestant community. There has been very little research with children from cross‐community families who have one parent from a Catholic background and one from a Protestant background. It is known, however, that these children are over‐represented in the public care system in Northern Ireland. The study reported in this paper addresses this gap in knowledge by exploring the experiences and views of children from cross‐community families who are in public care in Northern Ireland. The study has key messages for the development of services for looked after children from cross‐community families, if these are to be delivered in accordance with legislative duties in Northern Ireland and in an anti‐sectarian manner.