U.S. House Prices over the Last 30 Years: Bubbles,Regime Shifts and Market (In)Efficiency

This paper studies U.S. house prices across 45 metropolitan areas from 1980 to 2012. It applies a version of the Gordon dividend discount model for long‐run “fundamentals” and uses Mean Group and Pooled Mean Group estimation to estimate long‐run and short‐run determinants of house prices. We find great similarity across cities in that the long‐run house prices are largely explained by the same fundamentals; the long‐run rent to price ratio is approximately 5% plus 0.75 times the real interest rate (which is on the order of 2%). However, adjustments to deviations from the fundamentals are slow, in the long‐run, closing the gap at a rate of around 10% per year. We find sharp differences in short‐run adjustments (momentum) away from the fundamentals across cities, and the differences are correlated with local supply elasticities (more momentum with lower elasticity). Analysis of residuals suggests strong cyclical deviations, which are mean‐reverting.     

Robotics in the early childhood classroom: learning outcomes from an 8-week robotics curriculum in pre-kindergarten through second grade

In recent years there has been an increasing focus on the missing “T” of technology and “E” of engineering in early childhood STEM (science, technology, engineering, mathematics) curricula. Robotics offers a playful and tangible way for children to engage with both T and E concepts during their foundational early childhood years. This study looks at N = 60 children in pre-kindergarten through second grade who completed an 8-week robotics curriculum in their classrooms using the KIWI robotics kit combined with a tangible programming language. Children were assessed on their knowledge of foundational robotics and programming concepts upon completion of the curriculum. Results show that beginning in pre-kindergarten, children were able to master basic robotics and programming skills, while the older children were able to master increasingly complex concepts using the same robotics kit in the same amount of time. Implications for developmentally appropriate design of technology, as well as structure and pace of robotics curricula for young children are addressed.     

How to Green the red Dragon: A Start‐ups' Little Helper for Sustainable Development in China

This article qualitatively identifies and explains the barriers that foreign cleantech start‐ups can encounter when attempting to enter the Chinese market, as well as the possible strategies that can help overcome these barriers. We base our analysis on interviews with Chinese and foreign entrepreneurs and facilitators. To structure the analysis of such barriers, we use the components of the entrepreneurial ecosystem. We then explain the barriers using institutional theory. We demonstrate that they are caused either by the regulations in China or by the difference between Chinese and Western logics. We further recommend that cleantech entrepreneurs come prepared to China, remain flexible, associate themselves with reputable partners and take advice from those familiar with business in China. Cultural–cognitive barriers might be overcome by integrating the communities of foreign and Chinese start‐ups. Regulative barriers can be removed by the Chinese Government, but this conflicts with the logic of state control. Copyright © 2015 John Wiley & Sons, Ltd and ERP Environment     

Crisis Management Competencies

Since public networks became widespread, doubts have arisen over how to make them succeed. Scholars have traditionally addressed the issue in different ways, thus variously shedding light on the network structure, mechanisms, or managers as predictors of the network performance. The aim of our article is to explore the possibility of an interaction effect between the abovementioned factors. Our results show that there may be a relationship between network structure, mechanisms, and managers that jointly affects network performance. Therefore, important suggestions can be made about how to manage public networks successfully: (1) ensure that your network mechanisms and managerial abilities are coherent with the structure of your network; and (2) if you are in a well-established and integrated network, allow yourself some flexibility. Data were collected through a multiple case study that focused on collaboration for joint provision of home care services in Switzerland.     

An axiomatic characterization of the Baker-Thompson rule

The airport problem is a widely studied allocation problem, with the aim of providing simple and fair sharing rule for the landing fees. In this note we introduce some fairness criteria and characterize the classical Baker-Thompson allocation rule.     

Farmers,Biodiversity and Plant Protection: Developing a Learning Environment for Sustainable Tree Cropping Systems

More diverse, perennial cropping systems often have better natural mechanisms for keeping pests at bay. But while scientists emphasise the broad benefits of conservation in terms of effective ecosystem functioning, farmers are more interested in biodiversity for the provision of food or of services such as shade or windbreaks. Because of their limited knowledge of the role of biodiversity in plant protection, farmers sometimes unconsciously disturb natural regulatory mechanisms. Some citrus farmers in Vietnam introduced sapodilla as an intercrop to diversify their source of income, and because this fruit tree requires little care. However, this apparently worthwhile attempt to combine two valuable crops has misfired. The ecological conditions that traditionally sustained natural pest control in citrus have been disturbed, thus trapping farmers in the pesticide treadmill. The weaver ant Oecophylla smaragdina stopped protecting citrus from stinkbugs and leaf-feeding caterpillars after facing competition from the black ant Dolichoderus thoracicus, which favours sapodilla trees as a nesting habitat. To avoid similar scenarios in the future, methods for linking scientific research on ecosystem functions with farmers' own knowledge, experience and priorities are presented. Examples are given of ways in which farmers in perennial cropping systems learn, and how scientists can facilitate this learning process.     

Nadelstichverletzungen: Kleiner Pieks mit großer Wirkung

Arbeitsschutz als Führungsaufgabe - Eine kurze Unachtsamkeit oder unglückliche Verkettung von Ereignissen und schon ist es passiert: Die Kanüle trifft das Pflegepersonal. Aber: Nadelstichverletzungen lassen sich durch die Verwendung sicherer Produkte und Injektionstechniken reduzieren. Dabei ist die Verbesserung des Arbeits- und Gesundheitsschutzes des medizinischen und pflegerischen Personals eine wichtige Aufgabe der Führungskr?fte.     

How much does household collateral constrain regional risk sharing?

We construct a new data set of consumption and income data for the largest US metropolitan areas, and we show that the extent of risk-sharing between regions varies substantially over time. In times when US housing collateral is scarce nationally, regional consumption is about twice as sensitive to income shocks. We also document higher sensitivity in regions with lower housing collateral. Household-level borrowing frictions can explain this new stylized fact. When the value of housing relative to human wealth falls, loan collateral shrinks, borrowing (risk-sharing) declines, and the sensitivity of consumption to income increases. Our model aggregates heterogeneous, borrowing-constrained households into regions characterized by a common housing market. The resulting regional consumption patterns quantitatively match those in the data.     

General versus Product-Specific Life Style Segmentations

Given a segmentation problem, marketers may be forced to consider the benefits of both general and product-specific life style segmentations. This study therefore explores the procedures and refinements associated with each approach and offers overall conclusions as to each one's efficacy.     

A Risk-Return Analysis of a Firm's Working-Capital Position

In this paper, a method is proposed by which management is able to analyze the risk-return tradeoff for various levels of liquid assets for the firm and for different maturity compositions of its debt. Together, these factors determine its working-capital position. Certain probability concepts are employed; and information is provided about the risk of cash insolvency for alternative strategies. In addition, the opportunity costs of these strategies are determined. With the framework proposed, more rational working-capital decisions are possible. The firm is able to achieve a working-capital position that provides the appropriate margin of safety in relation to the cost involved in attaining that position