Finite Project Life and Uncertainty Effects on Investment

This paper revisits the important result of the real options approach to investment under uncertainty, which states that increased uncertainty raises the value of waiting and thus decelerates investment.Typically in this literature projects are assumed to be perpetual.However, in today.s economy .rms face a fast-changing technology environment, implying that investment projects are usually considered to have a .nite life.The present paper studies investment projects with .nite project life, and we .nd that, in contrast with the existing theory, investments may be accelerated by increased uncertainty.It is shown that this particularly happens when uncertainty is limited and project life is short.investment;uncertainty;finite project length

Corporate images' impact on consumers' product choices: The case of multinational foreign subsidiaries

The aim of this study is to ascertain the extent to which consumers\u27 images of home and foreign business units, and their perceptions of the corporate images held by other stakeholders, influence their buying behavior. The sample consisted of high school students in the United Arab Emirates (UAE) who intended or expected to enter higher education. Using a survey questionnaire, we asked respondents about the extent to which they believed their overall impressions of foreign universities operating in the UAE were influenced by images of the institutions\u27 home and UAE campuses and by their perceptions of the images held by other stakeholders. We found that when deciding on whether or not to buy from a foreign firm, consumers will be most influenced by the corporate images held by other stakeholders rather than the images of home and foreign business units constructed by themselves. These findings suggest that it would be advisable for firms to adopt a stakeholder perspective when developing and implementing their marketing strategy

Factors affecting university image formation among prospective higher education students: the case of international branch campuses

Previous research has found that the images of universities formed by prospective students greatly influence their choices. With the advent of international branch campuses in several higher education hubs worldwide, many international students now attempt to construct images of these institutions when deciding where to study. The aim of this research is to identify the sources of information and other influences that impact upon the images of international branch campuses formed by prospective undergraduate students. The study involved 407 students studying at nine international schools in the United Arab Emirates (UAE). It was found that recommendations and feedback resulting from personal relationships was by far the most influential factor shaping the images of institutions constructed by students. It was also discovered that elite institutions can benefit from positive home campus images based on heritage and prestige, which positively influence the images constructed of the international branch campuses operated by these institutions. The implications of the findings for higher education institutions are discussed

Stakeholder perspectives on citation and peer-based rankings of higher education journals

The purpose of this article is to identify and discuss the possible uses of higher education journal rankings and the associated advantages and disadvantages of using them. The research involved 40individuals –such as lecturers, university managers, journal editors and publishers – who represented a range of stakeholders involved with the research of higher education. The respondents completed an online questionnaire that consisted mainly of open questions. Although the respondents indicating clear support or opposition to journal rankings were split about equally, over two-thirds of therespondents reported having used or referred to a journal ranking during the previous 12 months. This suggests wide acceptance of the use of journal rankings, despite the fact that the downsides andproblematic nature of these rankings were clearly recognised. It raises the question why the very diverse field of higher education does not show more resistance against the rather homogenising instrument of journal rankings

Bistable hysteresis and resistance switching in hydrogen gold junctions

Current-voltage characteristics of H2-Au molecular junctions exhibit intriguing steps around a characteristic voltage of 40 mV. Surprisingly, we find that a hysteresis is connected to these steps with a typical time scale > 10 ms. This time constant scales linearly with the power dissipated in the junction beyond an ofset power P_s = IV_s. We propose that the hysteresis is related to vibrational heating of both the molecule in the junction and a set of surrounding hydrogen molecules. Remarkably, we can engineer our junctions such that the hysteresis' characteristic time becomes >days. We demonstrate that reliable switchable devices can be built from such junctions.Comment: Submitted to Phys. Rev. Let

Issues and challenges for small countries in attracting and hosting international students: the case of Lithuania

The spread of the neo-liberal ideology internationally has encouraged increased marketisation of higher education systems right around the world. With marketisation promoting competition, efficiency and revenue generation, many countries have begun to recruit more foreign students. Higher education has moved towards becoming a profitable commodity to be traded internationally. Nowadays, also small countries are challenged to play a role in the international student market. The purpose of this article is to analyse the perspectives of key stakeholders in a small East European higher education system (Lithuania) on its ambitious internationalisation strategy to substantially increase the percentage of higher education enrolments taken by international students. The potential advantages and disadvantages of this strategy are examined and the implications for higher education iinstitutions in small countries are discussed

Socioeconomic Inequalities in Mortality Rates in Old Age in the World Health Organization Europe Region

Socioeconomic adversity is among the foremost fundamental causes of human suffering, and this is no less true in old age. Recent reports on socioeconomic inequalities in mortality rate in old age suggest that a low socioeconomic position continues to increase the risk of death even among the oldest old. We aimed to examine the evidence for socioeconomic mortality rate inequalities in old age, including information about associations with various indicators of socioeconomic position and for various geographic locations within the World Health Organization Region for Europe. The articles included in this review leave no doubt that inequalities in mortality rate by socioeconomic position persist into the oldest ages for both men and women in all countries for which information is available, although the relative risk measures observed were rarely higher than 2.00. Still, the available evidence base is heavily biased geographically, inasmuch as it is based largely on national studies from Nordic and Western European countries and local studies from urban areas in Southern Europe. This bias will hamper the design of European-wide policies to reduce inequalities in mortality rate. We call for a continuous update of the empiric evidence on socioeconomic inequalities in mortality rate

A bridge between the single-photon and squeezed-vacuum state

The two modes of the Einstein-Podolsky-Rosen quadrature entangled state generated by parametric down-conversion interfere on a beam splitter of variable splitting ratio. Detection of a photon in one of the beam splitter output channels heralds preparation of a signal state in the other, which is characterized using homodyne tomography. By controlling the beam splitting ratio, the signal state can be chosen anywhere between the single-photon and squeezed state

Demand-driven scheduling of movies in a multiplex

This paper describes a model that generates weekly movie schedules in a multiplex movie theater. A movie schedule specifies within each day of the week, on which screen(s) different movies will be played, and at which time(s). The model consists of two parts: (i) conditional forecasts of the number of visitors per show for any possible starting time; and (ii) an optimization procedure that quickly finds an almost optimal schedule (which can be demonstrated to be close to the optimal schedule). To generate this schedule we formulate the so-called movie scheduling problem as a generalized set partitioning problem. The latter is solved with an algorithm based on column generation techniques. We have applied this combined demand forecasting /schedule optimization procedure to a multiplex in Amsterdam where we supported the scheduling of fourteen movie weeks. The proposed model not only makes movie scheduling easier and less time consuming, but also generates schedules that would attract more visitors than the current ‘intuition-based’ schedules.column generation;integer programming;demand forecasting;optimization of movie schedules