Resilient Growth: Fantasy Plans and Unplanned Developments in India's Flood‐Prone Coastal Cities

Academic and policy literatures on urban climate resilience tend to emphasize ‘good planning’ as the primary means for addressing the growing risk of flooding in Asia's coastal megacities. Cities have come to rely on disaster and climate resilience plans to future‐proof their landscapes and protect vulnerable populations. Yet while data is collected, models are built and plans are drafted, environmentally destructive development practices continue unabated and often unchallenged. This article examines and seeks to explain the contradictions between a growing awareness of the risks of climate‐induced flooding in resilience plans and the continuation of development practices widely acknowledged to exacerbate those risks. It analyzes these contradictions in the context of Mumbai and Kolkata, India's largest coastal cities, which are facing the severest threats from climate‐induced flooding. Based on analyses of key resilience planning documents and both planned and unplanned developments in some of Mumbai's and Kolkata's most ecologically sensitive areas, our analysis reveals that resilience planning, promoted by the central government and international consultants, and presented in locally produced ‘fantasy plans’, fails to address the risks of climate‐change‐related flooding owing to tendencies to sidestep questions of politics, power and the distributional conflicts that shape urban development. We conclude that efforts to reduce urban flood risk would benefit from the research, methods and analytic concepts used to critically study cities, but significant gaps remain between these fields.     

Sraffa and the Assumption of Constant Returns to Scale: A Critique of Samuelson and Etula

In a recent paper Samuelson and Etula claim to have providedthree examples of the presence of a constant returns to scaleassumption in Sraffa's Production of Commodities. The presentpaper is a refutation of their interpretation of Sraffa's propositions.It shows that they mistakenly take Sraffa's logical propositionsfor empirical propositions. This article also provides evidenceto refute Samuelson's hypothesis that Sraffa consistently confusedthe concept of Marshallian "constant cost" with the generalequilibrium concept of "constant returns to scale". The paperalso argues that Sraffa's prices are not necessarily "equilibrium"prices, and that it is not true that Sraffa maintained thatchanges in demand had no impact on prices; his position appearsrather to be that the impact of demand on prices is unpredictable.     

A Case-Based Reasoning System for Indirect Bank Lending

By implementing case-based reasoning (CBR) systems, business organizations can utilize past cases—a key data resource—for future decision making. CBR is particularly suitable for business domains that have available a large amount of historical data. One such domain is indirect bank lending. In this paper, we present a case-based system that operates in the bank lending domain. The system recommends whether an indirect loan application should be approved or denied, based on past experiences. We describe how the system was developed and explain how the system functions. The system was empirically evaluated using actual loan cases. The positive results of the evaluation confirm our hypothesis that CBR is an attractive decision-making methodology for the bank lending domain.     

Patent Enforcement, Innovation and Welfare

This paper analyzes how the Southern patent enforcement affects the Northern firm's choice of licensing, subsidiary production or exports for serving the Southern market, and the innovation rate in the North and ultimately the welfare in the South. We show that for imperfect patent enforcement, licensing contract leads to more innovation in the North relative to subsidiary or exports. When both subsidiary and exports are very costly options, no patent enforcement in the South is best for the South. However, when either subsidiary operation or exports can be organized cheaply, the Southern government chooses some positive degree of patent enforcement. We also establish that strengthening of patent enforcement in the South may lead to more licensing and less subsidiary operations or exports.     

Robust analysis of longitudinal data with nonignorable missing responses

We encounter missing data in many longitudinal studies. When the missing data are nonignorable, it is important to analyze the data by incorporating the missing data mechanism into the observed data likelihood function. The classical maximum likelihood (ML) method for analyzing longitudinal missing data has been extensively studied in the literature. However, it is well-known that the ordinary ML estimators are sensitive to extreme observations or outliers in the data. In this paper, we propose and explore a robust method, which is developed in the framework of the ML method, and is useful for downweighting any influential observations in the data when estimating the model parameters. We study the empirical properties of the robust estimators in small simulations. We also illustrate the robust method using incomplete longitudinal data on CD4 counts from clinical trials of HIV-infected patients.     

The adoption of radical manufacturing technologies and firm survival

The emergence of dramatically innovative, or radical, new manufacturing technologies can force pivotal and life‐threatening decisions for industry competitors. These technologies can represent a huge cost for adopting firms, but may also offer the chance to achieve competitive advantage through superior manufacturing. While prior research has considered a range of production process decisions (e.g., JIT, mass customization) and outcomes for end‐product technologies, little attention has been given to adoption decisions relative to core manufacturing technologies. This study examines an industry's adoption of major manufacturing technologies over several decades and demonstrates that two groups of contingencies related to adoption (e.g., timing and cumulative effects) have a significant impact on firm performance. Based on a sample of over 1,000 firms, the results provide insights into the effects of adoption timing and ‘manufacturing technology bundles’ on firm survival. We also find that adoption of manufacturing technologies prior to the inflection point of the estimated Bass diffusion curve for each technology leads to significant reduction in firm mortality. Thus, we are able to demonstrate the ability of the Bass model to predict the survival outcomes of firms facing manufacturing technology adoption decisions. The strategic implications of these pivotal decisions are considered. Copyright © 2008 John Wiley & Sons, Ltd.     

Determinants of early movers in cross-border merger and acquisition wave in an emerging market: A study of Indian firms

A series of changes in India’s financial institutional regime led to waves of cross-border mergers and acquisitions (M&A) deals spanning various industries. In this article, we explore firm-level determinants that distinguish between early movers and followers in these waves. We tested our hypotheses using data for the 2001–2011 period. Analysis found support for our hypotheses that prior experience (with alliances), firm size, and international embeddedness of business group influence timing of firms’ cross-border M&A. Findings support the springboarding perspective that emerging market (EM) firms engage in preemptive acquisitions to gain first-mover advantage.