Ideal Setting (ideal + setting)

Distribution by Scientific Domains

Selected Abstracts

Optimizing Service Attributes: The Seller's Utility Problem,

Fred F. Easton
Abstract Service designers predict market share and sales for their new designs by estimating consumer utilities. The service's technical features (for example, overnight parcel delivery), its price, and the nature of consumer interactions with the service delivery system influence those utilities. Price and the service's technical features are usually quite objective and readily ascertained by the consumer. However, consumer perceptions about their interactions with the service delivery system are usually far more subjective. Furthermore, service designers can only hope to influence those perceptions indirectly through their decisions about nonlinear processes such as employee recruiting, training, and scheduling policies. Like the service's technical features, these process choices affect quality perceptions, market share, revenues, costs, and profits. We propose a heuristic for the NP-hard service design problem that integrates realistic service delivery cost models with conjoint analysis. The resulting seller's utility function links expected profits to the intensity of a service's influential attributes and also reveals an ideal setting or level for each service attribute. In tests with simulated service design problems, our proposed configurations compare quite favorably with the designs suggested by other normative service design heuristics. [source]

Voluntary disclosure of operating income

Jilnaught Wong
M41 Abstract This study investigates whether New Zealand firms' voluntary disclosure of operating income, which is also known as earnings before interest and tax, in the income statement is related to the investment opportunity set. New Zealand provides an ideal setting to examine this because New Zealand generally accepted accounting principles do not require the disclosure of operating income as an intermediate income number in arriving at net income (earnings) in the income statement. We hypothesize and find evidence that firms with high assets-in-place and high leverage are more likely to voluntarily disclose operating income/earnings before interest and tax. However, the assets-in-place finding is sensitive to alternative measures of the investment opportunity set. [source]

Limited Arbitrage in Equity Markets

Mark Mitchell
We examine 82 situations where the market value of a company is less than its subsidiary. These situations imply arbitrage opportunities, providing an ideal setting to study the risks and market frictions that prevent arbitrageurs from immediately forcing prices to fundamental values. For 30 percent of the sample, the link between the parent and its subsidiary is severed before the relative value discrepancy is corrected. Furthermore, returns to a specialized arbitrageur would be 50 percent larger if the path to convergence was smooth rather than as observed. Uncertainty about the distribution of returns and characteristics of the risks limits arbitrage. [source]

Reversing the lead, or a series of unfortunate events?

Amaranth, NYMEX
A number of studies compare the efficiency and transparency of floor trading with automated/electronic trading systems in the competition for order flow. Although most of these studies find that electronic systems lead price discovery, a few studies highlight the weaknesses of electronic trading in highly volatile market conditions. A series of unusual events in 2006, sparking extreme volatility in natural gas futures trading, provide an ideal setting to revisit the resilience of trading system price leadership in the face of high volatility. We estimate time-varying Hasbrouck-style information shares to investigate the intertemporal and cross-sectional dynamics in price discovery. The results strongly suggest that the information share is time-dependent and contract-dependent. Floor trading dominates price discovery in the less liquid longer-maturity contracts, whereas electronic trading dominates price discovery in the most liquid spot-month contract. We find that the floor trading information share increases significantly with realized volatility. © 2009 Wiley Periodicals, Inc. Jrl Fut Mark 29:1130,1160, 2009 [source]

Uplift, exhumation and precipitation: tectonic and climatic control of Late Cenozoic landscape evolution in the northern Sierras Pampeanas, Argentina

BASIN RESEARCH, Issue 4 2003
Edward R. Sobel
Deciphering the evolution of mountain belts requires information on the temporal history of both topographic growth and erosion. The exhumation rate of a mountain range undergoing shortening is related to the erodability of the uplifting range as well as the efficiency of erosion, which partly depends on the available precipitation. Young, rapidly deposited sediments have low thermal conductivity and are readily eroded, in contrast to underlying resistant basement rocks that have a higher thermal conductivity. Apatite fission-track thermochronology can quantify cooling; thermal models constrain the relationship between this cooling and exhumation. By utilizing geological relations for a datum, we can examine the evolution of rock uplift, surface uplift and exhumation. In the northern Sierras Pampeanas of Argentina, a young sedimentary basin that overlay resistant crystalline basement prior to rapid exhumation provides an ideal setting to examine the effect of contrasting thermal and erosional regimes. There, tectonically active reverse-fault-bounded blocks partly preserve a basement peneplain at elevations in excess of 4500 m. Prior to exhumation, the two study areas were covered by 1000 and 1600 m of recently deposited sediments; this sequence begins with shallow marine deposits immediately overlying the regional erosion surface. Apatite fission-track data were obtained from vertical transects in the Calchaquíes and Aconquija ranges. At Cumbres Calchaquíes, erosion leading to the development of the peneplain commenced in the Cretaceous, probably as a result of rift-shoulder uplift. In contrast, Sierra Aconquija cooled rapidly between 5.5 and 4.5 Myr. At the onset of this rapid exhumation, the sediment was quickly removed, causing fast cooling, but relatively slow rates of surface uplift. Syntectonic conglomerates were produced when faulting exposed resistant bedrock; this change in rock erodability led to enhanced surface uplift rates, but decreased exhumation rates. The creation of an orographic barrier after the range had attained sufficient elevation further decreased exhumation rates and increased surface uplift rates. Differences in the magnitude of exhumation at the two transects are related to both differences in the thickness of the sedimentary basin prior to exhumation and differences in the effective precipitation due to an orographic barrier in the foreland and hence differences in the magnitude of headward erosion. [source]

Phylogenetic analysis of the endemic New Caledonian cockroach Lauraesilpha.

CLADISTICS, Issue 5 2008
Testing competing hypotheses of diversification
New Caledonia is a tropical hotspot of biodiversity with high rates of regional and local endemism. Despite offering an ideal setting to study the evolution of endemism, New Caledonia has received little attention compared with the other nearby hotspots, particularly New Zealand. Most studies of the Neocaledonian endemism have been carried out at the regional level, comparing the various groups and species present in New Caledonia but absent in neighboring territories. In addition, remarkably high short-range endemism has been documented among plants, lizard and invertebrates, although these have usually been done, lacking a phylogenetic perspective. Most studies of Neocaledonian endemism have referred to the geological Gondwanan antiquity of the island and its metalliferous soils derived from ultramafic rocks. Very old clades are thought to have been maintained in refugia and diversified on the metalliferous soils. The present study documents the pattern of diversification and establishment of short-range endemism in a phylogenetic context using the Neocaledonian cockroach genus Lauraesilpha. Mitochondrial and nuclear genes were sequenced to reconstruct phylogenetic relationships among the species of this genus. These relationships, in the light of the species distribution, do not support the hypothesis that species diversified via an adaptive radiation on metalliferous soils and are not consistent with areas of highest rainfall. Species of Lauraesilpha have similar altitudinal ranges and ecological habits and are short-range endemics on mountains. What our analysis did reveal was that closely related species are found on nearby or contiguous mountains, and thus these formations probably played the key role establishing short-range endemism (in association with recent climatic changes). © The Willi Hennig Society 2008. [source]