Explaining the decline in the auction rate securities market

Auction rate securities are an example of a relatively obscure financial market instrument that has been caught up in the recent negative sentiment affecting the financial markets. This article examines these securities and sheds some light on recent events.Auctions ; Securities ; Financial markets

Music education in the twenty-first century: a psychological perspective

Starting from Hargreaves’ (1986a) review of the relationship between developmental psychology and music education, we characterise the mid-1980s as a point at which the different main strands of music psychology – cognitive, developmental, and social – began to unfold. We move to the present day and beyond, suggesting that a major change has been the incorporation of a social perspective: it may now make more sense to talk about the developmental social psychology of music and music education. Four levels of social influence are distinguished – the individual, the interpersonal, the institutional,and the cultural – and we suggest that the concept of identity may enable explanations of social influence at the individual level. We review some research on musical style sensitivity as an exemplar of this general approach, and conclude by applying the social–cultural perspective to current developments in music education. This gives rise to two new conceptual models: of the opportunities that are offered by music education in the twenty-first century, and the outcomes that might be derived from it

Use of a Bayesian belief network to predict the impacts of commercializing non-timber forest products on livelihoods

Commercialization of non-timber forest products (NTFPs) has been widely promoted as a means of sustainably developing tropical forest resources, in a way that promotes forest conservation while supporting rural livelihoods. However, in practice, NTFP commercialization has often failed to deliver the expected benefits. Progress in analyzing the causes of such failure has been hindered by the lack of a suitable framework for the analysis of NTFP case studies, and by the lack of predictive theory. We address these needs by developing a probabilistic model based on a livelihood framework, enabling the impact of NTFP commercialization on livelihoods to be predicted. The framework considers five types of capital asset needed to support livelihoods: natural, human, social, physical, and financial. Commercialization of NTFPs is represented in the model as the conversion of one form of capital asset into another, which is influenced by a variety of socio-economic, environmental, and political factors. Impacts on livelihoods are determined by the availability of the five types of assets following commercialization. The model, implemented as a Bayesian Belief Network, was tested using data from participatory research into 19 NTFP case studies undertaken in Mexico and Bolivia. The model provides a novel tool for diagnosing the causes of success and failure in NTFP commercialization, and can be used to explore the potential impacts of policy options and other interventions on livelihoods. The potential value of this approach for the development of NTFP theory is discussed

Communicating Biophilic Design: Start With the Grasslands

To protect remnant ecosystems within urban areas, guidelines are needed for the biophilic design, construction, and ongoing occupation of the suburban subdivisions, industrial land, or business parks surrounding them. Planners, urban designers, architects, landscape architects, road engineers, and the community need tools to help design and manage urban landscapes in a way that puts the ecosystem's requirements on par with urban development. The Victorian National Parks Association recognized this need and developed Start with the grasslands (SWTG) as a set of biophilic urban design guidelines to protect remnant grasslands within urban areas. South-eastern Australia's grasslands are Australia's most endangered ecosystem, with <2% remaining. Many are within or at the fringes of urban areas and are in continuing decline in extent and quality. Because of considerable challenges to acceptance, the development of these biophilic design guidelines was as important as the guidelines themselves. The process was structured to maximize inclusivity and stakeholder buy-in, educate, shift debate from traditional lines of argument, and to communicate the complex relationships to be negotiated for a successful outcome. The guidelines needed to be evidence-based, trans-disciplinary, and refer directly to on-the-ground case studies. Organizational partnerships further built legitimacy. Recommendations span spatial scales from the highly local to the regional and consider the full timescale of urban development. SWTG communicates through non-confrontational language and visual techniques

The Impact of Differential Cost Sharing of Non-Steroidal Anti-Inflammatory Agents on the Use and Costs of Analgesic Drugs

OBJECTIVE: To estimate the effect of differential cost sharing (DCS) schemes for non-steroidal anti-inflammatory drugs (NSAIDs) on drug subsidy program and beneficiary expenditures. DATA SOURCES/STUDY SETTING: Monthly aggregate claims data from Pharmacare, the public drug subsidy program for seniors in British Columbia, Canada over the period 1989-11 to 2001-06. STUDY DESIGN: DCS limits insurance reimbursement of a group of therapeutically similar drugs to the cost of the lowest priced drugs, with beneficiaries responsible for costs above the reimbursement limit. Pharmacare introduced two different forms of DCS, generic substitution (GS) and reference pricing (RP), in April 1994 and November 1995, respectively, to the NSAIDs. Under GS, generic and brand versions of the same NSAID are considered interchangeable, whereas under RP different NSAIDs are. We extrapolated average reimbursement per day of NSAID therapy over the months before GS and RP to estimate what expenditures would have been without the policies. These counterfactual predictions were compared to actual values to estimate the impact of the policies; the estimated impacts on reimbursement rates were multiplied by the post-policy volume of NSAIDS dispensed, which appeared unaffected by the policies, to estimate expenditure changes. DATA COLLECTION: The cleaned NSAID claims data, obtained from Pharmacare’s databases, were aggregated by month and by their reimbursement status under the GS and RP policies. PRINCIPAL FINDINGS: After RP, program expenditures declined by $22.7 million, or$4 million annually, cutting expenditure by half. Most savings accrued from the substitution of low cost NSAIDs for more costly alternatives. About 20% of savings represented expenditures by seniors who elected to pay for partially-reimbursed drugs. GS produced one quarter the savings of RP. CONCLUSIONS: RP of NSAIDs achieved its goal of reducing drug expenditures and was more effective than GS. The effects of RP on patient health and associated health care costs remain to be investigated.Reference pricing; generic substitution; prescription drugs; drug cost containment; NSAIDs.

Structure and superconductivity of two different phases of Re3W

Two superconducting phases of Re(3)W have been found with different physical properties. One phase crystallizes in a noncentrosymmetric cubic (alpha-Mn) structure and has a superconducting transition temperature T(c) of 7.8 K. The other phase has a hexagonal centrosymmetric structure and is superconducting with a T(c) of 9.4 K. Switching between the two phases is possible by annealing the sample or remelting it. The properties of both phases of Re(3)W have been characterized by powder neutron diffraction, magnetization, and resistivity measurements. The temperature dependences of the lower and upper critical fields have been measured for both phases. These are used to determine the penetration depths and the coherence lengths for these systems

Long-range interacting pendula: A simple model for understanding complex dynamics of charged particles in an electronic curtain device

In this paper, we investigate the equilibrium and non-equilibrium properties of a model that shares several important characteristics with charged particles interacting in an Electric Curtain (EC) device. An EC comprises a periodic array of parallel electrodes, applied to each is an alternating electric potential. Depending on the applied potentials and the geometry of the electrodes, a wide variety of field structures above the plane of the electrodes are possible. The EC has multiple applications in the control and manipulation of small particles, but is under utilized in industry and science because of difficulties in predicting and understanding the particle dynamics. One particular challenge in understanding the dynamics is the many-body coulomb interactions. To better understand the role of the interactions, we study a one-dimensional analytically tractable model that encapsulates their long-range nature. Specifically, we study a Hamiltonian similar to that of the Hamiltonian mean field model but with the inclusion of an index dependent phase in the interaction term that, as we show, reflects the periodic structure of an EC field. We solve for the canonical partition function and also investigate some of the non-equilibrium behaviors. In the study of the non-equilibrium behaviors, we find an interesting property, namely that a quasistationary (lifetime diverges as the number of particles is increased) clustered state can exist when an initial configuration is ordered by the particle indices

Developing a facilitation model to promote organisational development in primary care practices

BACKGROUND: The relationship between effective organisation of general practices and health improvement is widely accepted. The Maturity Matrix is an instrument designed to assess organisational development in general practice settings and to stimulate quality improvement. It is undertaken by a practice team with the aid of a facilitator. There is a tradition in the primary care systems in many countries of using practice visitors to educate practice teams about how to improve. However the role of practice visitors as facilitators who enable teams to plan practice-led organisational development using quality improvement instruments is less well understood. The objectives of the study were to develop and explore a facilitation model to support practice teams in stimulating organisational development using a quality improvement instrument called the Maturity Matrix. A qualitative study based on transcript analysis was adopted. METHOD: A model of facilitation was constructed based on a review of relevant literature. Audio tapes of Maturity Matrix assessment sessions with general practices were transcribed and facilitator skills were compared to the model. The sample consisted of two facilitators working with twelve general practices based in UK primary care. RESULTS: The facilitation model suggested that four areas describing eighteen skills were important. The four areas are structuring the session, obtaining consensus, handling group dynamics and enabling team learning. Facilitators effectively employed skills associated with the first three areas, but less able to consistently stimulate team learning. CONCLUSION: This study suggests that facilitators need careful preparation for their role and practices need protected time in order to make best use of practice-led quality improvement instruments. The role of practice visitor as a facilitator is becoming important as the need to engender ownership of the quality improvement process by practices increases

Biomedical semantics in the Semantic Web

The Semantic Web offers an ideal platform for representing and linking biomedical information, which is a prerequisite for the development and application of analytical tools to address problems in data-intensive areas such as systems biology and translational medicine. As for any new paradigm, the adoption of the Semantic Web offers opportunities and poses questions and challenges to the life sciences scientific community: which technologies in the Semantic Web stack will be more beneficial for the life sciences? Is biomedical information too complex to benefit from simple interlinked representations? What are the implications of adopting a new paradigm for knowledge representation? What are the incentives for the adoption of the Semantic Web, and who are the facilitators? Is there going to be a Semantic Web revolution in the life sciences