Matching Items (130)

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Knowledge and passive adaptation to climate change: An example from Indian farmers

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This study is an attempt to use group information collected on climate change from farmers in eastern Uttar Pradesh, India to address a key question related to climate change policy:

This study is an attempt to use group information collected on climate change from farmers in eastern Uttar Pradesh, India to address a key question related to climate change policy: How to encourage farmers to adapt to climate change? First, we investigate farmers’ perception of and adaptation to climate change using content analysis and group information. The findings are then compared with climatic and agriculture information collected through secondary sources. Results suggest that though farmers are aware of long-term changes in climatic factors (temperature and rainfall, for example), they are unable to identify these changes as climate change. Farmers are also aware of risks generated by climate variability and extreme climatic events. However, farmers are not taking concrete steps in dealing with perceived climatic changes, although we find out that farmers are changing their agricultural and farming practices. These included changing sowing and harvesting timing, cultivation of crops of short duration varieties, inter-cropping, changing cropping pattern, investment in irrigation, and agroforestry. Note that these changes may be considered as passive response or adaptation strategies to climate change. Perhaps farmers are implicitly taking initiatives to adapt climate change. Finally, the paper suggests some policy interventions to scale up adaptation to climate change in Indian agriculture.

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  • 2016-11-24

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The Theory of Localist Representation and of a Purely Abstract Cognitive System: The Evidence from Cortical Columns, Category Cells, and Multisensory Neurons

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The debate about representation in the brain and the nature of the cognitive system has been going on for decades now. This paper examines the neurophysiological evidence, primarily from single

The debate about representation in the brain and the nature of the cognitive system has been going on for decades now. This paper examines the neurophysiological evidence, primarily from single cell recordings, to get a better perspective on both the issues. After an initial review of some basic concepts, the paper reviews the data from single cell recordings – in cortical columns and of category-selective and multisensory neurons. In neuroscience, columns in the neocortex (cortical columns) are understood to be a basic functional/computational unit. The paper reviews the fundamental discoveries about the columnar organization and finds that it reveals a massively parallel search mechanism. This columnar organization could be the most extensive neurophysiological evidence for the widespread use of localist representation in the brain. The paper also reviews studies of category-selective cells. The evidence for category-selective cells reveals that localist representation is also used to encode complex abstract concepts at the highest levels of processing in the brain. A third major issue is the nature of the cognitive system in the brain and whether there is a form that is purely abstract and encoded by single cells. To provide evidence for a single-cell based purely abstract cognitive system, the paper reviews some of the findings related to multisensory cells. It appears that there is widespread usage of multisensory cells in the brain in the same areas where sensory processing takes place. Plus there is evidence for abstract modality invariant cells at higher levels of cortical processing. Overall, that reveals the existence of a purely abstract cognitive system in the brain. The paper also argues that since there is no evidence for dense distributed representation and since sparse representation is actually used to encode memories, there is actually no evidence for distributed representation in the brain. Overall, it appears that, at an abstract level, the brain is a massively parallel, distributed computing system that is symbolic. The paper also explains how grounded cognition and other theories of the brain are fully compatible with localist representation and a purely abstract cognitive system.

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  • 2017-02-16

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Income, personality, and subjective financial well-being: the role of gender in their genetic and environmental relationships

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Increasing levels of financial inequality prompt questions about the relationship between income and well-being. Using a twins sample from the Survey of Midlife Development in the U. S. and controlling

Increasing levels of financial inequality prompt questions about the relationship between income and well-being. Using a twins sample from the Survey of Midlife Development in the U. S. and controlling for personality as core self-evaluations (CSE), we found that men, but not women, had higher subjective financial well-being (SFWB) when they had higher incomes. This relationship was due to ‘unshared environmental’ factors rather than genes, suggesting that the effect of income on SFWB is driven by unique experiences among men. Further, for women and men, we found that CSE influenced income and SFWB, and that both genetic and environmental factors explained this relationship. Given the relatively small and male-specific relationship between income and SFWB, and the determination of both income and SFWB by personality, we propose that policy makers focus on malleable factors beyond merely income in order to increase SFWB, including financial education and building self-regulatory capacity.

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  • 2015-09-29

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TOWARD THE THEORY OF THE SUPPLY CHAIN

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As our discipline has matured, we have begun to develop theories of supply chain management. However, we submit that a major omission of theory development in the supply chain management

As our discipline has matured, we have begun to develop theories of supply chain management. However, we submit that a major omission of theory development in the supply chain management discipline is that we have failed to develop a theory of what we are managing—a theory of the supply chain. Using a conceptual theory building approach, we introduce foundational premises about the structure and boundary of the supply chain, which can serve as the basis for much needed, additional development of the theory of the supply chain.

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  • 2015-04-01

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Short Selling Pressure, Stock Price Behavior, and Management Forecast Precision: Evidence from a Natural Experiment

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Using a natural experiment (Regulation SHO), we show that short selling pressure and consequent stock price behavior have a causal effect on managers’ voluntary disclosure choices. Specifically, we find that

Using a natural experiment (Regulation SHO), we show that short selling pressure and consequent stock price behavior have a causal effect on managers’ voluntary disclosure choices. Specifically, we find that managers respond to a positive exogenous shock to short selling pressure and price sensitivity to bad news by reducing the precision of bad news forecasts. This finding on management forecasts appears to be generalizable to other corporate disclosures. In particular, we find that, in response to increased short selling pressure, managers also reduce the readability (or increase the fuzziness) of bad news annual reports. Overall, our results suggest that maintaining the current level of stock prices is an important consideration in managers’ strategic disclosure decisions.

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  • 2015-03-01

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When having to leave is a "Good Thing": A case for positive involuntary turnover

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Persistent economic pressures in today's business landscape require organizations to be constantly vigilant about managing costs. Reducing headcount is one common but often controversial form of cost cutting. Recently Hewlett-Packard

Persistent economic pressures in today's business landscape require organizations to be constantly vigilant about managing costs. Reducing headcount is one common but often controversial form of cost cutting. Recently Hewlett-Packard announced that it would be cutting an additional 11,000–16,000 jobs on top of an original plan to let as many as 34,000 workers go as part of a business restructuring and turnaround strategy. Chief Executive Officer (CEO) Meg Whitman said major shifts that are transforming how technology is paid for and consumed pose major challenges for HP, along with its competitors. To be successful in this new reality, she emphasized that HP needs to be lower-cost and more nimble. This is just one of a long list of examples of significant corporate workforce reductions in the face of mounting financial and competitive challenges faced by businesses across many industries.

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  • 2015-01-01

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How Do Case Law and Statute Differ? Lessons From the Evolution of Mortgage Law

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This paper traces the history of mortgage law in the United States. I explore the history of foreclosure procedures, redemption periods, restrictions on deficiency judgments, and foreclosure moratoria. The historical

This paper traces the history of mortgage law in the United States. I explore the history of foreclosure procedures, redemption periods, restrictions on deficiency judgments, and foreclosure moratoria. The historical record shows that the most enduring aspects of mortgage law stem from case law rather than statute. In particular, the ability of creditors to foreclose nonjudicially is determined very early in states’ histories, usually before the Civil War, and usually in case law. In contrast, the aspects of mortgage law developed through statute change more frequently. This finding calls into question whether common law is inherently more flexible than the civil-law system used in some other countries. However, case law tends to be less responsive to populist pressures than statutes. My findings suggest that the reason common law favors financial development is unlikely to be its greater flexibility relative to law made by statute.

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  • 2014-11-01

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Environmental Regulations and the Welfare Effects of Job Layoffs in the United States: A Spatial Approach

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This article develops welfare-consistent measures of the employment effects of environmental regulation. Our analysis is based on a microeconomic model of how households with heterogeneous preferences and skills decide where

This article develops welfare-consistent measures of the employment effects of environmental regulation. Our analysis is based on a microeconomic model of how households with heterogeneous preferences and skills decide where to live and work. We use the model to examine how job loss and unemployment would affect workers in Northern California. Our stylized simulations produce earnings losses that are consistent with empirical evidence. They also produce two new insights. First, we find that earnings losses are sensitive to business cycle conditions. Second, we find that earnings losses may substantially understate welfare losses once we account for the fact that workers may have to commute further or live in a less desirable community after losing a job.

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  • 2014-11-30

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High-Frequency Quoting, Trading, and the Efficiency of Prices

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We examine the relation between high frequency quotation and the behavior of stock prices between 2009 and 2011 for the full cross section of securities in the US. On average,

We examine the relation between high frequency quotation and the behavior of stock prices between 2009 and 2011 for the full cross section of securities in the US. On average, higher quotation activity is associated with price series that more closely resemble a random walk, and significantly lower cost of trading. We also explore market resiliency during periods of exceptionally high low-latency trading: large liquidity drawdowns in which, within the same millisecond, trading algorithms systematically sweep large volume across multiple trading venues. Although such large drawdowns incur trading costs, they do not appear to degrade the price formation process or increase the subsequent cost of trading. In an out-of-sample analysis, we investigate an exogenous technological change to the trading environment on the Tokyo Stock Exchange that dramatically reduces latency and allows co-location of servers. This shock also results in prices more closely resembling a random walk and a sharp decline in the cost of trading.

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Date Created
  • 2015-05-01

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Competitive Goals and Plant Investment in Environment and Safety Practices: Moderating Effect of National Culture

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Operations managers clearly play a critical role in targeting plant-level investments toward environment and safety practices. In principle, a “rational” response would be to align this investment with senior management's

Operations managers clearly play a critical role in targeting plant-level investments toward environment and safety practices. In principle, a “rational” response would be to align this investment with senior management's competitive goals for operational performance. However, operations managers also are influenced by contingent factors, such as their national culture, thus creating potential tension that might bias investment away from a simple rational response. Using data from 1,453 plants in 24 countries, we test the moderating influence of seven of the national cultural characteristics on investment at the plant level in environment and safety practices. Four of the seven national cultural characteristics from GLOBE (i.e., uncertainty avoidance, in-group collectivism, future orientation and performance orientation) shifted investment away from an expected “rational” response. Positive bias was evident when the national culture favored consistency and formalized procedures and rewarded performance improvement. In contrast, managers exhibited negative bias when familial groups and local coalitions were powerful, or future outcomes—rather than current actions—were more important. Overall, this study highlights the critical importance of moving beyond a naïve expectation that plant-level investment will naturally align with corporate competitive goals for environment and safety. Instead, the national culture where the plant is located will influence these investments, and must be taken into account by senior management.

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Date Created
  • 2015-02-01