Developing the Scottish cooperative infrastructure: the what, who, where, when and why of SPEIR

Brief article describing SPEIR (pronounced "speer"): "Scottish Portals for Education, Information and Research". SPEIR is intended to develop an environment to underpin Scottish portals, creating the basis for: "a coherent virtual learning, information and research landscape for all Scottish citizens, collaboratively built and maintained via an agreed country-wide, standards-based, globally interoperable, co-operative infrastructure"

GDL: a model infrastructure for a regional digital library

This brief article describes the early days of the Glasgow Digital Library (GDL), when it was a cross-sectoral and city-wide collaborative initiative involving Strathclyde, Glasgow and Caledonian Universities, as well as Glasgow City Libraries and Archives and the Glasgow Colleges Group

Investor Rationality: Evidence from UK Property Capitalization Rates

Recent analyses have suggested the irrationality of investors in Australian and U.S. office properties. More specifically, investors have failed to raise capitalization rates sufficiently at rental cyclical peaks to account for the obvious mean reversion in real rents and thus have significantly overvalued properties. In this paper we analyze the determination of UK office and retail capitalization rates and provide evidence that these rates reflect rational expectations of mean reversion in future real cash flows. Moreover, these rates are linked to capitalization rates (dividend/price ratio) and expected dividend earnings growth as expected.

Investor Rationality: An Analysis of NCREIF Commercial Property Data

The concept of a peak in value or a "100% location" is so well established in real estate that there is no reference to the term in recent real estate principles and appraisal texts. However, the land value section in appraisals of a regional shopping center did not apply the concept when adjusting comparables for location, which resulted in a substantial underestimation of site value. A regression model that included a distance variable to control for location produced a value estimate that was more than double the values in the appraisals. The empirical results illustrate that the subject site represented a distinct peak in land value as well as reemphasizing the importance of making careful location adjustments in situations where there is a distinct peak in land value.

Empirically Grounded Clinical Interventions Clients' and Referrers' Perceptions of Computer-Guided CBT (FearFighter)

Background: Computer-guided CBT has been shown to be a potentially useful Way of closing the gap between the demand and supply for CBT. Moreover, this approach has additional benefits in terms of less travel times for treatment, accessibility in remote and Unusual locations, increased confidentiality, easier disclosure of sensitive information, and more egalitarian therapist-client interactions. Research oil computerized CBT has concentrated Oil Clinical Outcomes. but the views Of clients oil this treatment approach have been relatively neglected. Aims: The aims were to assess client satisfaction, professionals' views, and ease of programme use after completion of treatment via ail internet-based CBT programme for panic and phobic anxiety (FearFighter). Method: A feasibility and effectiveness Study of FearFighter was conducted in remote and rural areas of Scotland. Treatment data are available for 35 clients at post-treatment, of whom 29 completed an I 8-item set of rating scales designed to assess satisfaction, including ease of use, accessibility. how far needs were met, whether changes to the programme were required, the benefits and drawbacks of not having a therapist, and quality of support. Open-ended questions were included. Referring agencies were also asked to rate their views on FearFighter. Results: Clients reported moderate to high levels of improvement and of overall satisfaction; very few difficulties in logging on to and using the programme were encountered. Similar levels of satisfaction with the programme were reported by referrers. Conclusions: It is concluded that computer-guided CBT is acceptable to clients and to professionals, and that it could play a valuable part in a "stepped care" system of delivering CBT.</p

Evidence on Rationality in Commercial Property Markets: An Interpretation and Critique

Periodic sharp sustained increases and then reversals in asset prices lead many to posit irrational price bubbles. The general case for irrationality is that real asset prices simply have moved too much given the future real cash flows the assets are reasonably likely to produce. A corollary for property is that observed mean reversion in real cash flows is not reflected in investor valuations, resulting in asset values being too high when real cash flows are high and vice versa. In this paper we interpret, critique and extend existing analyses of movements in real commercial property prices during the late 1980s and early 1990s.

Terminology server for improved resource discovery: analysis of model and functions

This paper considers the potential to improve distributed information retrieval via a terminologies server. The restriction upon effective resource discovery caused by the use of disparate terminologies across services and collections is outlined, before considering a DDC spine based approach involving inter-scheme mapping as a possible solution. The developing HILT model is discussed alongside other existing models and alternative approaches to solving the terminologies problem. Results from the current HILT pilot are presented to illustrate functionality and suggestions are made for further research and development

Asymmetric space market adjustment in the London office market

Models of the City of London office market are extended by considering a longer time series of data, covering two cycles, and by explicit modeling of asymmetric rental response to supply and demand model. A long run structural model linking demand for office space, real rental levels and office-based employment is estimated and then rental adjustment processes are modeled using an error correction model framework. Adjustment processes are seen to be asymmetric, dependent both on the direction of the supply and demand shock and on the state of the rental market at the time of the shock. A complete system of equations is estimated: unit shocks produce oscillations but there is a return to a steady equilibrium state in the long run

Asymmetric adjustment in the City of London office market

Earlier estimates of the City of London office market are extended by considering a longer time series of data, covering two cycles, and by explicitly modeling of asymmetric space market responses to employment and supply shocks. A long run structural model linking real rental levels, office-based employment and the supply of office space is estimated and then rental adjustment processes are modeled using an error correction model framework. Rental adjustment is seen to be asymmetric, depending both on the direction of the supply and demand shocks and on the state of the space market at the time of the shock. Vacancy adjustment does not display asymmetries. There is also a supply adjustment equation. Two three-equation systems, one with symmetric rental adjustment and the other with asymmetric adjustment, are subjected to positive and negative shocks to employment. These illustrate differences in the two systems