Additive and Multiplicative Uncertainty Revisited: What Explains the Contrasting Biases?

above the certainty level while for additive uncertainty the price should be lower than the certainty level. This note gives an intuitive explanation for the result after first presenting a parsimonious review of the two models. We also discuss which, if either, of the two models is more realistic. Received December 14, 2001; revised version received July 16, 2002 Published online: April 30, 2003 We thank referees for helpful comments. Ciaran Driver would like to acknowledge the research facilities from ANU, Canberra for their help in writing this paper.     

Service Competitiveness – An Anglo-US Study

This article reports on the latest in a series of international comparisons of management practices and performance outcomes of industries in various countries. Here, it is the service industries in the UK and the US which come under the microscope. Among the companies surveyed, there were more world-class performers in the US than the UK, but also more low performers. The concluding part of the article is diagnostic – the authors also suggest measures which could improve performance.     

Ultrasonic logging as a method of evaluating the static deformation characteristics of real media

Conclusions The physical causes promoting a difference in the values of the moduli of elasticity determined by static and dynamic (ultrasonic and resonance) methods of investigation were examined. On the basis of analyzing these causes formulas were proposed for calculating longitudinal wave velocities in mutually perpendicular directions for loaded and unloaded states of the object of investigation. The possibility of estimating the static parameters of deformability of a real (not idealized) medium directly from the data of ultrasonic investigations, in particular, from ultrasonic logging data, was shown. Translated from Gidrotekhnicheskoe Stroitel'stvo, No. 7, pp. 36–42, July, 1998.     

SELF-SUFFICIENCY AND FOOD SECURITY IN THE UK AND EC PRESIDENTIAL ADDRESS

The political strength in the EC and UK of the belief that high levels of self-sufficiency make food supplies more secure is demonstrated and explained. The relationship is examined analytically and critically, taking particular account of the priority of food, adjustment costs, and linkages between agriculture and other sectors. The need for a policy of food security in Western Europe is discussed in relation to military, crop and trade uncertainties. Finally, the elements of a more rational policy, including measures of storage, procurement and production independence, are outlined.     

A self‐correction technique for real‐time simulation of regulated rivers

An automatic self‐correction scheme is presented for online adjustment of stream‐flow forecasts during simulation of river systems with regulating structures, when actual flow data for interior points are available in real time. Another scheme is presented which allows for the modelling of channel losses due to physical effects such as evapotranspiration, bank storage and diversions. A previously developed river simulation/reservoir management model has been modified to include both schemes. The model is particularly useful for real‐time, short‐term flood forecasting and reservoir operation. The model application is made to the Lower Colorado River in Texas.     

Is the International Convergence of Capital Adequacy Regulation Desirable?

The merit of international convergence of bank capital requirements in the presence of divergent closure policies of different central banks is examined. The lack of a complementary variation between minimum bank capital requirements and regulatory forbearance leads to a spillover from more forbearing to less forbearing economies and reduces the competitive advantage of banks in less forbearing economies. Linking the central bank's forbearance to its alignment with domestic bank owners, it is shown that in equilibrium, a regression toward the worst closure policy may result: The central banks of initially less forbearing economies also adopt greater forbearance.     

Disinfection performance of Fe(VI) in water and wastewater: a review.

Ferrate(VI) [FeVIO4(2-), Fe(VI)] has excellent disinfectant properties and can inactivate a wide variety of microorganisms at low Fe(VI) dosages. The final product of Fe(VI) is Fe(III), a non-toxic compound. The treatment by Fe(VI) does not give any chlorination by-products, which makes Fe(VI) an environmentally-friendly ion. The results demonstrate that Fe(VI) can inactivate Escherichia coli (E. coli) at lower dosages or shorter contact time than hypochlorite. Fe(VI) can also kill many chlorine resistant organisms, such as aerobic spore-formers and sulphite-reducing clostridia, and would be highly effective in treating emerging toxins in the aquatic environment. Fe(VI) can thus be used as an effective alternate disinfectant for the treatment of water and wastewater. Moreover, Fe(VI) is now becoming economically available in commercial quantities and can be used as a treatment chemical to meet the water demand of this century. This paper reviews the potential role of Fe(VI) as disinfectant in water and wastewater treatment processes.