Back to the well: the hidden costs of service exclusion for the network poor

This paper discusses the consumption of the everyday services that sustain living in contemporary Britain, many of which are now provided by private sector organizations operating in the global marketplace. It aims to highlight the differential access to and cost of those services to people living stressed and disadvantaged lives in marginalized neighbourhoods. Drawing on recent empirical research, it highlights the way in which the exclusion and marginalization of some customers exacerbates both their financial poverty and the stress associated with it.     

When we are onstage,we smile: The effects of emotional labor on employee work outcomes

A growing body of literature has confirmed the deleterious effects of emotional labor on service employees. The study adds to it by investigating two hypothesized antecedents to emotional labor; affectivity and empathy which is conceptualized as a two-dimensional construct composed of emotional contagion and empathic concern. It also examines the impact of emotional labor on job satisfaction and exhaustion. The results confirmed a two-dimensional structure of emotional labor, emotive dissonance, and emotive effort. Hospitality employees with higher positive affect tend to experience less emotive dissonance while individuals with higher negative affect exert more effort to enact emotional labor. A positive relationship was found between emotional contagion and emotive dissonance, and emotive effort and job satisfaction. The results also suggested a negative relationship between emotive effort and emotional exhaustion. An unexpected negative relationship was found between emotional dissonance and emotional exhaustion. Managerial implications discuss training and acting techniques to more effectively manage employee emotional labor.     

Economy-wide reform and agricultural recovery: Observations of economic Darwinism among transition economies

The fitness of an economy and its prospects for continued prosperity will be measured and determined by its robustness and its ability to adapt to changing circumstances. Some countries in transition are adapting much more easily than others to rapid changes in the orientation of their economy, the common objective of which is to achieve economic growth through the adoption of a range of characteristics generally associated with a market economy. Economic growth does not have to be very fast, but it must be efficient and sustainable. Policy adjustments must address political economy concerns, while seeking to achieve macroeconomic equilibrium and price stabilization, competitiveness, efficiency and flexibility, and the protection of the living standards of the most vulnerable population The process of agricultural sector reform will be determined both by economy-wide policies and sector-specific policies. This paper first outlines a taxonomy of the objectives of agricultural sector reform, and then discusses the way in which indirect price interventions (specifically exchange rate and interest rate policies, expansive fiscal policies and industrial protection policies), influence agricultural growth. Lessons of experience drawn from the UNDP/World Bank Trade Expansion Program structural and sectoral adjustment operations in Poland, and the cases of New Zealand and Chile are employed to illustrate not only the constraints that countries face in this regard, but also in identifying targets for further action. The third section presents what is called the architecture of incentives for agriculture'. In defining a strategy of agricultural sector reform, experience has shown that a structure of incentives can be developed that creates an environment ripe for agricultural growth-incentives relating, for example, to taxation, prices, foreign investment, privatization and demonopolization, decentralization and institutional reform. Special considerations that will require additional attention by policy-makers outside of this structure include the maintenance of GATT-legal principles in trade policies, issues relating to tariffication (including concerns about price risk management, food supply, and the role of food aid), input and credit subsidies as a means to correct for market failures, and the role of regional trading blocks in world trade.     

An Intelligent Distributed System for Strategic Decision Making

The decision-making process in strategic planning is often too complex to be handled by conventional methods. Strategic planning problems (building new plans, new product planning, etc.) belong to the class of problems called ill-structured by H. Simon. They involve a decomposition of the main problem into a set of subproblems, a reasoning process at the subproblem level, and then a coordinated and aggregated process to build a global solution. Because partial solutions are generated without having a complete view of the global objective, this type of decision-making process very often generates incoherent and contradictory hypotheses and actions. Therefore, the main problem is to find a way to achieve coherence and coordination among decisions made locally by different agents, at different levels.Recent advances in Artificial Intelligence, particularly in the field of multi-agent theory, offer great promises in modeling strategic planning processes. In this article we present a general framework called 'A Coherent Plan of Coordinated Actions (CPCA)' for building intelligent distributed strategic decision making systems which integrates advances in both distributed decision making and Distributed Artificial Intelligence. We then describe a multi-blackboard system, ARISTOTE, which is aimed at helping corporate managers address the feasibility and coherence of a plan of actions.     

Hidden risks of hedge accounting in financial institutions: A study of Franklin Savings Association

The hedge accounting standards for financial institutions stipulated in SFAS No. 80 impose ambiguous guidelines whose enforcement can produce detrimental effects on the financial condition of institutions. Combining these standards with the interpretive authority of regulatory agencies can subject institutions to regulatory risk-the risk of an adverse regulatory ruling resulting from disparate interpretations of the accounting standards. The accounting regulations specified in SFAS No. 80 permit financial institutions to defer derivative-contract losses over the life of the underlying asset or liability. If the hedge designation is misused, however, the capital position of the institution may potentially be misstated prior to maturity of the derivative contracts. Further, when a hedging program goes awry, the current hedge accounting standards may actually encourage the shift to what is actually a speculation program by permitting a larger asset base on which to “earn back” a portion of the hedging losses. Thus, institutional programs initially designed to mitigate interest-rate risk can instead become risk-increasing, separate profit centers. Events leading to the RTC conservatorship of Franklin Savings Association are used to illustrate the opportunities and regulatory threats inherent in hedge accounting. Subsequent analysis indicates that similar ordeals could be avoided by a clarification of hedge accounting standards, the consistent application of standards by regulators, or by increasing capital requirements for those institutions that use derivatives as separate profit centers as opposed to hedging risk exposures.     

A GPS data-based analysis of built environment influences on bicyclist route preferences

This study examines the effects of built environment features, including factors of land use and road network, on bicyclists' route preferences using the data from the city of Seattle. The bicycle routes are identified using a GPS dataset collected from a smartphone application named “CycleTracks.” The route choice set is generated using the labeling route approach, and the cost functions of route alternatives are based on principal component analyses. Then, two mixed logit models, focusing on random parameters and alternative-specific coefficients, respectively, are estimated to examine bicyclists' route choice. The major findings of this study are as follows: (1) the bicycle route choice involves the joint consideration of convenience, safety, and leisure; (2) most bicyclists prefer to cycle on shorter, flat, and well-planned bicycle facilities with slow road traffic; (3) some bicyclists prefer routes surrounded by mixed land use; (4) some bicyclists favor routes which are planted with street trees or installed with street lights; and (5) some bicyclists prefer routes along with city features. This analysis provides valuable insights into how well-planned land use and road network can facilitate efficient, safe, and enjoyable bicycling.