A Multi-Objective and Multi-Design Evaluation Procedure for Environmental Protection Forestry

A unique and important application of a comprehensive and practical multi-objective evaluation framework is presented which goes far beyond traditional cost-benefit analysis (CBA). It is characterized by transparency which is not always the case for methods beyond CBA. The application is geared to the evaluation of environmental protection forestry with several alternative designs. The framework suggested consists of five key steps integrating orthodox cost-benefit analysis and the analytical hierarchy process developed by Saaty (1980). It is shown to be a flexible framework which can coherently function with a mixture of both monetary and physical units of measurement. The framework is applied to a consideration of alternative designs for the Three Norths Shelter Belt (TNSB) in China.     

Analyzing Real Estate Data Problems Using the Gibbs Sampler

Real estate data are often characterized by data irregularities: missing data, censoring or truncation, measurement error, etc. Practitioners often discard missing- or censored-data cases and ignore measurement error. We argue here that an attractive remedy for these irregularity problems is simulation-based model fitting using the Gibbs sampler. The style of the paper is primarily pedagogic, employing a simple illustration to convey the essential ideas, unobscured by implementation complications. Focusing on the missing-data problem, we show dramatic improvement in inference by retaining rather than deleting cases of partially observed data. We also detail Gibbs-sampler usage for other data problems.     

Technology and worker coopratives: some UK evidence and a framework for investigation

This paper considers the relationship between cooperatives i n the 'new wave' and the technology they use. Data and examples from the UK are presented to show that there is no general support either for the 'optimistic' hypothesis that cooperatives are necessarily able to make humanizing choices about technology or for the 'pessimistic' hypothesis that they are completely constrained by technology. A framework is developed for analysing the factors which may or may not allow technological choices. The paper goes on to form a new hypothesis in two parts: firstly, that small firms i n general have more freedom to make choices about technology the more they have independence from large firms and the market, and the more they are i n areas of product innovation, particularly IT-based innovation; secondly, given a degree of freedom to make such choices, the choice is more likely to be made successfully in the direction of humanizing uses of technology the more there is potential for identif;cation between job, product and social or political aims. The paper concludes by describing a research project now under way exploring the relative importance of these factors in established UK worker cooperatives.     

Managers' conservatism and corporate performance

This article argues that conservatism as a personal value among senior managers significantly affects corporate performance. A scale to measure conservatism was developed and its measurement properties were tested on several hundred executives. Empirical results were consistent with the hypotheses that conservatism among senior management teams is negatively associated with the firm's social responsiveness as well as certain aspects of financial performance.     

Making water competition a reality

Following a decade since privatisation during which attempts at introducing competition for water services have been slow and somewhat ineffective, the government is now carrying out a review. Large-volume users have a thirst for water competition brought about by competition in other utilities. The economic regulator needs to allow a new contestable market for industrial water services to develop whilst major structural and legislative changes to facilitate competition are contemplated.