Reframing science and other local knowledge traditions

By recognizing science as a set of local practices it becomes possible to ‘decentre’ it and develop a framework within which all knowledge systems can be equitably compared. It is argued that all knowledge traditions are spatial in that they link people, sites and skills. In order to ensure the continued existence of the diversity of knowledge traditions rather than have them absorbed into the great imperialist archive we need to enable disparate knowledge traditions to work together through the creation of a third space in which the social organization of trust can be negotiated.     

Finance for development and islamic banking

Islamic banking, where fixed interest contracts are banned, needs if it is to be successful to operate within a type of financial system in which bank-industry relationships are sufficiently close and pervasive for profit- and loss-sharing arrangements to be acceptable to both sides. However, the creation of such a business culture is likely to be difficult.     

Symmetry and order in the portfolio allocation problem

Summary. This research studies the role of multivariate distribution structures on random asset returns in determining the optimal allocation vector for an expected utility maximizer. All our conclusions pertain for the set of risk averters. By carefully disturbing symmetry in the distribution of the, possibly covarying, returns, we ascertain the ordinal structure of the optimized allocation vector. Rank order of allocations is also established when a permutation symmetric random vector is mapped into the returns vector through location and scale shifts. It is shown that increased dispersion in the vectors of location and scale parameters benefit, ex-ante, investors as does a decrease in the rank correlation coefficient between the location and scale parameter vectors. Revealed preference comparative static results are identified for the location and scale vectors of asset returns. For most issues addressed, we arrive at much stronger inferences when a safe asset is available. Received: August 8, 2000; revised version: January 8, 2001     

An algebraic theory of portfolio allocation

Summary. Using group and majorization theory, we explore what can be established about allocation of funds among assets when asymmetries in the returns vector are carefully controlled. The key insight is that preferences over allocations can be partially ordered via majorized convex hulls that have been generated by a permutation group. Group transitivity suffices to ensure complete portfolio diversification. Point-wise stabilizer subgroups admit sectoral separability in fund allocations. We also bound the admissible allocation vector by a set of linear constraints the coefficients of which are determined by group operations on location and scale asymmetries in the rate of returns vector. For a distribution that is symmetric under a reflection group, the linear constraints may be further strengthened whenever there exists an hyperplane that separates convex sets. Received: May 15, 2001; revised version: March 20, 2002 RID="*" ID="*" Journal paper No. J-19797 of the Iowa Agriculture and Home Economics Experiment Station, Ames, Iowa. Project No. 3463, and supported by Hatch Act and State of Iowa funds. Correspondence to: D. A. Hennessy     

A Rose by Any Other Name: Identity and Impression Management in Résumés

Résumés provide critical information for organizations to make selection decisions and applicants with their first opportunity to influence decision makers. While résumés are intended to convey job relevant information, they also potentially provide information about applicants that could hinder their employment prospects. For example, many names give clues about an applicant’s sex or race, and previous research has shown this can have negative implications for historically disadvantaged groups. This creates an incentive for some people to engage in impression management regarding how they identify themselves in their résumé. The paper develops a typology for assessing the ethics of these attempts at impression management. Sample vignettes are provided to help explicate the proposed typology.     

U.S. interstate labor force migration: An analysis of trends, net exchanges, and migration subsystems

The rich geography and complex temporal trends of U.S. interstate labor force migration are portrayed. The most commonly reported net migration statistics hide multi-faceted patterns of state-to-state exchange. Maps depicting net migration balances show that much population redistribution has been taking place counter to the popularly conceived Frostbelt-to-Sunbelt flow. Significant net migration exchange takes place within each of the major regions of the U.S. as well as between them.

Principal component analyses carried out on gross state-to-state flow tables for 1960–1965, 1965–1970, and 1970–1975 suggest the existence of a set of remarkably stable migration subsystems, despite the heralded net migration turnarounds in nonmetropolitan-to-metropolitan and south-to-north patterns of flow.