Many-valued Logic in Multistate and Vague Stochastic Systems

The state of the art in coherent structure theory is driven by two assertions, both of which are limiting: (1) all units of a system can exist in one of two states, failed or functioning; and (2) at any point in time, each unit can exist in only one of the above states. In actuality, units can exist in more than two states, and it is possible that a unit can simultaneously exist in more than one state. This latter feature is a consequence of the view that it may not be possible to precisely define the subsets of a set of states; such subsets are called vague . The first limitation has been addressed via work labeled 'multistate systems'; however, this work has not capitalized on the mathematics of many-valued propositions in logic. Here, we invoke its truth tables to define the structure function of multistate systems and then harness our results in the context of vagueness. A key contribution of this paper is to argue that many-valued logic is a common platform for studying both multistate and vague systems but, to do so, it is necessary to lean on several principles of statistical inference.     

Erratum: The effects of procedural and informational justice in the integration of related acquisitions

The above article (DOI: 10.1000/smj728) was published online on 20 November 2008 in Wiley Interscience ( www.interscience.wiley.com ). Printing errors were subsequently identified in the article: Page 14. Table 1: row 13 should be labelled ‘Post‐integration financial return’. Page 14. Table 1: row 14 should be labelled ‘Post‐integration market position’. Page 17. lines 48‐50: ‘Improving financial return requires removal of critical organizational elements with which organization members feel tightly connected.’ should read ‘Improving financial return requires removal of critical organizational elements such as company names, departments, products, and people with which organization members feel tightly connected.’     

An expanded model of the factors affecting the acceptance and effectiveness of electronic human resource management systems

Despite the widespread use of eHR systems, surveys show that there may be a number of problems associated with their design and implementation [CedarCrestone (2007). CedarCrestone 2007–2008 HR systems survey: HR technologies, service delivery approaches, and metrics. Available at www.cedarcrestone.com/research.php. Retrieved July, 2008]. In an effort to overcome these problems we expanded the model of eHR acceptance and effectiveness developed by Stone, Stone-Romero, & Lukaszewski [Stone, D. L., Stone-Romero, E. F., & Lukaszewski, K. (2006). Factors affecting the acceptance and effectiveness of electronic human resource systems. Human Resources Management Review, 16, 229-244]. The expanded model provides a more detailed discussion of the communication processes underlying these systems including the effects of media and message characteristics. In addition, we offer a number of testable hypotheses based on the model that can be used to guide future research on eHR systems.     

Impact of Visibility and Investment Advisor Credibility on the Valuation Effects of High-Tech Cross-Border Acquisitions

Since foreign high-tech firms exhibit a high level of asymmetric information, there is much investor skepticism surrounding the potential benefits to US firms that acquire them. However, the investor perception may be more favorable when the acquisitions involve more visible targets and advice from investment banks with a strong reputation. Based on a sample of 503 high-tech cross-border acquisitions, bidding-firm shareholders experience positive but statistically insignificant valuation effects overall. However, bidder firms experience positive and significant valuation effects when the foreign high-tech target receives a high level of media attention and when the acquisition is endorsed by a top-tier investment bank. Visibility and credibility enhance the perceived benefits of acquiring foreign targets that have substantial intangible assets and a high level of asymmetric information.     

Trade creation and trade diversion in the Canada – United States Free Trade Agreement

In this paper the changes in trade patterns introduced by the Canada-United States Free Trade Agreement are examined. Variation in the extent of tariff liberalization under the agreement is used to identify the impact of tariff liberalization on the growth of trade both with member countries and non-member countries. Data at the commodity level are used, and the results indicate that the Canada-United States Free Trade Agreement had substantial trade creation effects, with little evidence of trade diversion. JEL Classification: F13, F14
Création de commerce et diversion de commerce dans l'Accord de libre-échange Canada-U.S. Ce mémoire examine les changements dans les patterns de commerce international engendrés par l'Accord de libre-échange entre la Canada et les Etats-Unis. La variation dans l'intensité de libéralisation tarifaire selon les secteurs dans l'Accord est utilisée pour identifier l'impact de la libéralisation tarifaire sur la croissance du commerce à la fois entre les pays membres et avec les pays non-membres. A l'aide de données par produits, on montre que l'Accord a eu des effets substantiels de création de commerce mais qu'il n'y a pas lieu de croire qu'il y a eu beaucoup de diversion de commerce.     

The economic effects of long-term rent control: The case of New York City

This article presents a simple model of rent control in which the costs and benefits can be analyzed in terms of Hicksian consumer and producer surpluses. Data from New York City are then used to examine the effect of the long-term rent control in that city. Estimates are presented which suggest that the program provided tenants with benefits amounting to about 5 percent of their income in the years 1965 and 1968. Additional evidence shows that tenant benefits declined rather sharply between the two years, and that in each of the years benefits were higher for older tenants, richer tenants, and white tenants than for their counterparts. Finally, evidence presented here suggests that, due to the in-kind nature of the program, the cost to landlords exceeded the benefits to tenants by about 75 percent.