In this research note Gedaliahu Harel, Senior Lecturer in Human Resource Management at the Israel Institute of Technology, and Yehuda Baruch, Visiting Fellow at the City University Business School, explore the effects of a special educational and training programme that affects the backgrounds of employees in technical jobs measured by variables such as level of performance, professionalism, and organisational commitment. the results are considered in terms of the particular population examined and the implications discussed for the use of special vocational education and training. 相似文献
Characteristics of teamwork in modern organizations and workplaces are examined, in order to extrapolate the means for imparting teamwork skills within technology education. Goals and tasks for the team, team composition, team-player styles, phases of team development, communication and interpersonal skills, decision making, leadership, and evaluation of team performance are discussed. Teamwork skills are acquired gradually as a result of experience. Mere provision of a joint task to a group of people does not produce teamwork spontaneously. In order to promote teamwork, technological tasks at school need to include considerable degrees of freedom and decision-making by pupils. When the teacher becomes a facilitator of the process, instead of being primarily a source of knowledge and a decision-maker, team members can determine the assignment of roles in the group by themselves. Evaluation of teamwork in technology education is an integral part of alternative assessment. 相似文献
The primary objective of the study was to examine the relationship between patterns in car-to-car crashes involving young drivers and car and driver characteristics and the research design was a national register-based prospective cohort study. Individual records in a cohort born 1970 – 1972 are linked to road-traffic-crash data (1988 – 2000). Subjects' first police-registered two-car crash leading to severe or fatal injury (n = 4875) are identified. Typical crash patterns are highlighted and associations between pattern and both car and individual socio-demographic characteristics are tested. Four crash patterns are highlighted. Male drivers and those with lower educational attainment are over-represented in all patterns. Pattern-based risk levels vary considerably according to car safety level and driver's age at time of injury and socio-economic status. Crash patterns might be considered in young adult driver education systems, bearing in mind the consistent higher risks of male drivers and of drivers with lower educational attainment. 相似文献
A simple trading model is presented in which Bayes’ rule is used to aggregate traders’ forecasts about risky assets’ future
returns. In this financial market, Bayes’ rule operates like an omnipotent market-maker performing functions that in 1776
Adam Smith attributed to an “invisible hand.” We have analyzed two distinct cases: in the first scenario, the traders’ forecast
errors are uncorrelated, and in the second scenario, the traders’ forecast errors are correlated. The contribution of our
paper is fourfold: first, we prove that the “efficient market” mean-return can be expressed as a complex linear combination
of the traders’ forecasts. The weights depend on the forecast variances, as well as on the correlations among the traders’
forecasts. Second we show that the “efficient” variance is equal to the inverse of the sum of the traders’ precision errors,
and is also related to the correlations among the traders’ forecast errors. Third, we prove that the efficient market return
is the best linear minimum variance estimator (BLMVE) of the security’s mean return (in the sense that it minimizes the sum
of the traders’ mean squared forecast errors). Thus, an efficient market aggregates traders’ heterogeneous information in
an optimal way. Fourth, we prove that an efficient market produces a mean return (price) as a Blackwell sufficient (most informative)
experiment among all possible aggregated expected return (price) forecasts. 相似文献
We develop a model that examines the capital structure and investment decisions of regulated firms in a setting that incorporates two key institutional features of the public utilities sector in many countries: firms are partially owned by the state and regulators are not necessarily independent. Among other things, we show that regulated firms issue more debt, invest more, and enjoy higher regulated prices when they face more independent regulators, are more privatized, and when regulators are more pro‐firm. Moreover, regulatory independence, higher degree of privatization, and pro‐firm regulatory climate are associated with higher social welfare. 相似文献
Numerous futures markets in the US and many stock markets around the world set a “limit” price before each trading session,
based on the settlement price at the end of the previous trading day. Price limits are boundaries set by market regulators
to restrict large daily fluctuations in the price of securities. Once the return limit is triggered, traders cannot observe
the equilibrium return that would have prevailed in the absence of such regulation. We develop an innovative approach for
forecasting security returns (and prices) in a market regulated by price limits. Our forecasting model allows for multiple
limit-hits. The model is robust, straightforward and easy for practitioners to use. A few numerical predictions are provided
for hypothetical securities, and for seven traded futures contracts. 相似文献
Automotive assembly lines are often characterized by robots’ failures that may result in stoppages of the lines and manual backup of tasks. The phenomena tend to impair throughput rate and products’ quality. This paper presents a backup strategy in which working robots perform tasks of failed robots. The proposed Mixed-Integer Linear-Programming based approach minimizes the throughput loss by utilizing the robots’ redundancy in the system. Two algorithms are developed to comply with stochastic conditions of a real-world environment. The performance of these algorithms is compared with several heuristics, and the downstream-backup based algorithm is found superior to all other methods. 相似文献
We analyze the hold-up problem in the context of the Cournot–Ellet theory of complementary monopoly. The strategic interaction among travelers and two distinct owners of successive segments of a segment road is used as a metaphor for complementary goods that are traded sequentially. It is shown that when trade occurs double marginalization is eliminated. Furthermore, allowing for strategic placement of the tollbooths (simultaneous trade) avoids the hold-up problem but not double marginalization. Thus, this analysis suggests the endogenous creation of institutions among complementary monopolistic suppliers that assure their customers of not being held up whenever it is strategically possible. 相似文献
A reliable method of options pricing in real time would help various players, including hedgers and speculators, to make informed decisions. In this study, we develop an extensive simulation with multiple business environments, which includes the use of real data from the S&P 500 Index between the years 2010–2017 for the 30 days prior to expiration of the options. Forecasted tradability is computed based on the SH model: a theoretical model of real-time options pricing that takes into account players’ heterogeneity with regard to their willingness to accept offers proposed by the opposing player. The quality of the model is examined for the scenario in which the model players are speculators who act against the real market prices. We show that the equilibrium prices predicted by the SH model are close to the market prices (a deviation of up to approx. 3%) in an In-The-Money environment. Additionally, the tougher the players (i.e., the greater their level of unwillingness to accept a bid from the opposing player), the higher the average tradability. We also find that the level of willingness of the players has a greater effect on tradability than does option moneyness or the market trend.