Creating a quantum design schema: Integrating extra-rational and rational learning processes

The traditional, linear, rational models of designing have over-simplified a complex process; unfortunately, this simplification misrepresents reality. Students need to become aware of the ambiguous nature of a complex process such as designing just as they need to be introduced to the ambiguous nature of living in a modern world. The challenge is to develop a design process to be used as a teaching/learning strategy that is non-linear, that integrates processes from the rational and extra-rational levels of the mind and which captures the ambiguous nature of the design process. Using the counter-intuitive behaviour that exists in quantum theory as an analogy seems best to describe the true nature of designing.Dr. Tom Puk is Coordinator of Continuing Teacher Education, Faculty of Education, Lakehead University, Thunder Bay, Ontario, Canada. He teaches in preservice, continuing education and graduate programs, and has conducted major research for Ontario Ministry of Education on Technology Education and Design Processes in 1991; this research was used to develop two provincial curriculum guidelines for all schools in Ontario. Email: tpuk@sky.LakeheadU.CA     

Term structure of interest rates in the Singapore Asian dollar market

This paper investigates empirically the term structure of interest rates in the Singapore Asian Dollar Market. We consider extended versions of the ARCH-M model of Engle, Lilien, and Robins (1987). The extended models permit autocorrelation, skewness and leptokurtosis in the residuals. The robustness of the empirical tests with respect to alternative specifications of the ARCH process is examined. It turns out that there is significant time-varying term premium, and this conclusion is independent of the hypothesized ARCH model.     

Modernisation or Failure? IT Development Projects in the UK Public Sector

The notable lack of success in UK public sector IT development projects has been recently recognised in policy making circles and considerable efforts are now being made to improve the situation. However, the lessons officially being drawn from the UK public sector's IT development failures, while eminently sensible, do appear simplistic and even superficial. This paper applies permanent failure theory to the stream of IT development failures in an attempt to offer some alternatives to the official lessons.     

FIRST-MOVER (DIS) ADVANTAGE AND REAL OPTIONS

Fear of losing first-mover advantages has caused many corporate strategists to ignore real options analysis and simply go ahead with any project that they think is expected to have a positive net present value. But first-mover advantages are not nearly as valuable as most strategists tend to assume. This article weighs the expected value of first-mover advantages against the benefits of the real option arising from delay and flexibility. The real options model recognizes the value of delaying projects until important sources of uncertainty and risk can be resolved.
After reviewing two well-known cases of successful second movers—the triumph of VHS over Betamax in VCRs and Microsoft's remarkable late software entries—the authors go on to present more broadly based historical evidence for their view that first-mover advantages often fail to confer lasting value. The article closes with an assessment of first-mover advantages in the new economy, including a brief look at recent developments in the Internet and telecom sectors.     

Due diligence during the integration of physician groups

While contemplating physician group integration, providers should perform due diligence and ask questions in several key areas to ensure successful integrations: Financial--Is the group producing the revenue expected, and is the revenue cycle managed effectively? Statistical--What are the numbers of encounters, procedures, surgeries, and ancillaries? Compliance--Has the group developed and operated a sound compliance program, and has compliance been a priority? Succession--How many physicians are within three to five years of retirement?     

Time variation paths of factors affecting financial institutions and stock returns

This study finds evidence that three risk factors relating to the stock market, bond market, and real estate market are important in explaining the risk premiums included in financial institutions and bank stock returns. Stock returns for insurance companies are not sensitive to changes in the bond market. The Flexible Least Squares (FLS) results indicate that the stock market factor has the most important and stable impact on risk premiums for financial institutions, banks, and insurance companies. The bond market is the primary source of instability in stock returns for these three groups of stocks. This research adds further support for using market discipline, especially as it relates to equity returns to enhance the prudential regulation of the financial sector.     

The Tradable-Permits Approach to Protecting the Commons: Lessons for Climate Change

Tradable-permit approaches for rationing access to the commonshave been applied to many different types of resources in manydifferent countries. This essay reviews the experience withthree main applications of tradable-permit systems—air-pollutioncontrol, water supply, and fisheries management—as wellas some unique related programmes. The purpose of the reviewis to draw together what we have learned about tradable permitsin practice that might offer some useful insights for the implementationof the three tradable-permit mechanisms that are part of theKyoto Protocol.