6,480 research outputs found
Anomalies in Economics and Finance
No full textThe term “anomaly” played a crucial role in Thomas Kuhn’s characterization of scientific progress. For Kuhn, an anomaly is a puzzle which challenges an accepted paradigm. Puzzles only achieve anomalous status once an alternative paradigm becomes available which allows explanation of the puzzle. Anomalies were introduced into the finance literature by Michael Jensen but more as resolvable puzzles than Kuhnian anomalies. They entered economics via Richard Thaler who saw behavioural economics as the alternative to the neoclassical paradigm. Both authors use the term anomaly in a deliberately Kuhnian manner. Kuhn formulated his ideas by looking back across the history of physics. By contrast, behavioural economists use Kuhn’s concepts in a forward-looking manner as a marketing tool for their ideas.anomaly, behavioural, effects.
Positioning the World Bank.
No full textThis article examines the rationale for the World Bank and explores whether its objective is best served by its current mix of activities. We are critical of the Bank's reliance on conditionality, and advocate evolution into a Knowledge Bank, which would lend with few conditions to countries with good policies and good institutions, and would concentrate on the provision of knowledge and technical assistance, rather than lending, in countries where the policy framework is poor. We also advocate an expansion in the Bank's role as a provider of global public goods; we critically examine the Banks role in relation to financial crises
Has food price volatility risen?
No full textThe high food prices experienced over recent years have led to the widespread view that food price volatility has increased. However, volatility has generally been lower over the two most recent decades than previously. Variability over the most recent period has been high but, with the important exception of rice, not out of line with historical experience. There is weak evidence that the volatility of grains and vegetable oils prices may be increasing but it is too early to make a definite statement. Important open issues remain with respect to biofuels, climate change and the possible effects of the financialization of agricultural food markets
Performance of gravel aggregates in superpave mixes with 100/95 angularity
No full textThe current aggregate requirement for aggregate angularity that the NYSDOT requires for their Superpave Hot Mix Asphalt (HMA) is 100/98. With this requirement, many of the gravel quarries in New York State cannot meet that specification. As a result, quarries that are further away from the job site have to transport the aggregates which in turn increases the cost of construction. This paper investigates a multitude of test methods to determine whether the NYSDOT can further lower their Superpave aggregate angularity requirement. Also, this paper delves into "grade bumping".M.S.Includes bibliographical referencesIncludes abstractby Christopher L. Ericso
Christopher Dawson
No full textInspired with Jude P. Dougherty’s works in which he stresses the overruling importance of the classical, humanistic education and the central place and role of religion in the Western culture, the author presents Christopher Dawson’s analysis of the Western civilization and his demonstration of the central role of Christianity in it. The author traces the premises on which was based Dawson’s opinion that modern Western man might be absorbed by his technical inventions, to the point of losing his soul
Christopher Lister and Annie Barnum Leavitt Golden Wedding
No full textGolden wedding family picture. Bottom row: Lucinda nelson, Donetta Potter, Father christopher Lister Leavitt, Mother Annie Barnum Leavitt, Lister H. Leavitt, Middle row: Ila May Justin, Barnum Leavitt, Nell L. Granger, Jack Leavitt, Stella Pingle, Jacob H. Leavitt. Top row: Gene Leavitt, James Gilbert Leavitt, Glen H. Leavitt, Ross Leavitt, Evan Leavitt, Theron Leavitt. Included in Juanita Brooks\u27 publication On the Ragged Edge: The Life and Times of Dudley Leavitt
The World Bank: Structure and policies
No full textTwelve papers argue that the World Bank's greatest asset is its accumulated knowledge and experience of the development process, and propose that it organize itself around the concept of a "Knowledge Bank." Papers focus on an overview of some major issues of the World Bank; positioning the World Bank; the World Bank and poverty reduction in the past, present, and future; why the World Bank should be involved in development research; the challenges of multilateralism and governance; lessons from the 1980s on the World Bank and structural adjustment; the implications of foreign aid fungibility for development assistance; aid, growth, the incentive regime, and poverty reduction; microeconomic evidence on aid, policies, and investment productivity; the World Bank and sector investment programs in Africa; the World Bank, conditionality, and the Comprehensive Development Framework; and the current debates over conditionality, dependence, and coordination in aid policy. Gilbert is at the Free University, Amsterdam. Vines is at Balliol College, University of Oxford. Index
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