Equilibrium Investment Strategies and Output Price Behavior: A Real-Options Approach

The effects of competitive interactions on investment decisionsand on the dynamics of the price of a nonstorable commodityare studied in a model of incremental investment with time tobuild and operating flexibility. I find that an increase inuncertainty may encourage firms to increase their capacity.Furthermore, I show that it may be optimal to invest in additionalcapacity during periods in which part of the operational capacityis not being utilized. The impact of competition on the propertiesof the endogenous output price is dramatic. For example, I findthat price volatility may be increasing in the number of competitorsin the industry.     

An Examination of the Interaction Between Modelling and Its Relationship with Construction Kits: Lessons from the Past and for the Future

Construction kits have played a significant part in nurturing the growth and development of the minds and manipulation-based skills of children (and adults) in formal and non-formal education settings. These kits have origins rooted in the representation of the built world and now have a diversity of form and function, including technical versions with moving parts. This article examines some of the historically based ideas that lie behind the role that kits may have in terms of physical modelling. The article traces the transformation of kits from simple bricks and blocks into more complicated pieces for space-filling and achieving the transfer of forces and motion. This transformation occurred during the Victorian era when the influence of the ideas of educationalists and, perhaps rather strangely, exponents of early aviation, played major roles in determining the diversity of forms of construction kit and modelled possibilities that are now to be seen in classrooms and homes. The article ends with a review of some of the lessons from the past and present that will need to be considered in relation to concrete modelling in schools for the future. This revised version was published online in July 2006 with corrections to the Cover Date.     

The Impact of the Implementation of Technology Education on In-Service Teacher Education in South Africa (Impact of Technology Education in the RSA)

In this article the impact of technology education, as a new learning area (subject) in the curriculum, on in-service teacher education in South Africa is described in order to ascertain the extent of the impact. The research on which this article is based draws on a variety of experiences and observations in the field at grassroots level (in particular an outreach project in rural communities). The envisaged impact of technology education on South African schools, communities, teacher educators and teachers, the range of in-service teacher education that is required, and the impacts in urban and rural areas are discussed. Finally a number of concluding remarks are made about the extent of the impact of the inclusion of technology education in the new National Curriculum Statement and whether the situation has changed since the implementation of a pilot technology education project in 1998. This revised version was published online in July 2006 with corrections to the Cover Date.     

Role transitions in older adults: A marketing opportunity

Consumers act out roles throughout their lives. Marketers assist in this role playing by providing the wardrobes, props, and sets in the form of products and services. They also help people understand acceptable role behavior by portraying roles in their communication programs. Consumers assume new roles as they age. This article is designed to enhance understanding of the often-ignored roles that accompany aging and provides examples of and suggestions for effective marketing for these role transitions.     

Rural traffic management: The Burrator Reservoir experiment

The introduction of traffic management schemes has been one response of the National Parks to the problem of ever-increasing car-borne visitors and the consequent damage caused to the rural environment. By reviewing these schemes and by determining and explaining attitudes towards one particular traffic management experiment, the paper aims to deduce lessons for future policy. The analysis, based on two visitor surveys, suggests that the likelihood of success is improved when schemes are integrated, containing both ‘carrot’ and ‘stick’ elements. Since public perceptions are also found to be pivotal to its success, appropriate marketing of a scheme is vital. The paper concludes, however, that to achieve the fundamental objective of greater accessibility with less mobility, a more wide-ranging marketing effort is required intended to engender a sea change in attitude towards both the car and public transport.     

Futures assessment by field anomaly relaxation : A review and appraisal

Futures research includes the problem of generating reasonably exhaustive and plausible scenarios for a given topic, a problem for which there are no truly satisfactory solutions. This article reviews and evaluates a method, field anomaly relaxation, first put forward some 20 years ago. The evaluation is in the context of an illustrative study of political developments in Europe. The research reconstructs and further develops the method and concludes that it has something to offer for scenario generation. Its weaknesses are identified and suggestions for further research are made.