In this book we aim to present, in a unified framework, a broad spectrum of mathematical theory that has grown in connection with the study of problems of optimization, equilibrium, control, and stability of linear and nonlinear systems. The title Variational Analysis reflects this breadth. For a

Abstract not found

Recent research on corporate governance has documented large differences between countries in ownership concentration in publicly traded firms, in the breadth and depth of financial markets, and in the access of firms to external finance. We suggest that there is a common element to the explanations of these differences, namely how well investors, both shareholders and creditors, are protected by law from expropriation by the managers and controlling shareholders of firms. We describe the differences in laws and the effectiveness of their enforcement across countries, summarize the consequences of these differences, and suggest potential strategies of reform of corporate governance. We argue that the legal approach is a more fruitful way to understand corporate governance and its reform than the conventional distinction between bank-centered and market-centered financial systems.

Abstract not found

Abstract not found

diffusion process, but leakage and mutual inhibition work together to address several challenges to existing diffusion, random-walk, and accumulator models. The model provides a good account of data from choice tasks using both time-controlled (e.g., deadline or response signal) and standard reaction time

Marketing inherited a model of exchange from economics, which had a dominant logic based on the exchange of “goods, ” which usually are manufactured output. The dominant logic focused on tangible resources, embedded value, and transactions. Over the past several decades, new perspectives have emerged that have a revised logic focused on intangible resources, the cocreation of value, and relationships. The authors believe that the new perspectives are converging to form a new dominant logic for marketing, one in which service provision rather than goods is fundamental to economic exchange. The authors explore this evolving logic and the corresponding shift in perspective for marketing scholars, marketing practitioners, and marketing educators.

Abstract not found

NOTE: We will make final revisions to this paper in July 2000, at which time we will make reference to all pertinent papers that have come to our attention by June 30, 2000. If anyone reading this survey knows of a pertinent paper not presently included in the list of references, please send a copy or a reference to one of us. *Djankov is Financial Economist at the World Bank. Murrell is Professor of Economics and Chair of the Academic Council of the IRIS Center, University of Maryland. We would like to thank Judy Hellerstein, John McMillan, John Nellis, and Jan Svejnar for helpful advice and Wooyoung Kim and Tatiana Nenova for research assistance. This research was made possible through support provided by the World Bank and by the U.S. Agency for International Development under Cooperative Agreement No. DHR-0015-A-00-0031-00 to the Center for Institutional Reform and the Informal Sector (IRIS). The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the IRIS Center, US AID, the World Bank, its Executive Directors, or the countries they represent. Enterprise Restructuring in Transition: A Quantitative Survey Abstract. There are now over 125 empirical papers that analyze the process of enterprise restructuring in transition

Humanity already possesses the fundamental scientific, technical, and industrial know-how to solve the carbon and climate problem for the next half-century. A portfolio of technologies now exists to meet the world’s energy needs over the next 50 years and limit atmospheric CO2 to a trajectory that avoids a doubling of the preindustrial concentration. Every element in this portfolio has passed beyond the laboratory bench and demonstration project; many are already implemented some-where at full industrial scale. Although no element is a credible candidate for doing the entire job (or even half the job) by itself, the portfolio as a whole is large enough that not every element has to be used. The debate in the current literature about stabi-lizing atmospheric CO2 at less than a doubling of the preindustrial concentration has led to needless confusion about current options for mitigation. On one side, the Intergovernmental Panel on Climate Change (IPCC) has claimed that “technologies that exist in operation or pilot stage today ” are sufficient to follow a less-than-doubling trajectory “over the next hundred years or more ” [(1), p. 8]. On the other side, a recent review in Science asserts that the IPCC claim demonstrates “misperceptions of techno-logical readiness ” and calls for “revolutionary changes ” in mitigation technology, such as fu-sion, space-based solar electricity, and artificial photosynthesis (2). We agree that fundamental research is vital to develop the revolutionary mitigation strategies needed in the second half of this century and beyond. But it is important not to become beguiled by the possibility of revolutionary technology. Humanity can solve the carbon and climate problem in the first half of this century simply by scaling up what we already know how to do.