Vector valued logarithmic residues and the extraction of elementary factors

An analysis is presented of the circumstances under which, by the extraction of elementary factors, an analytic Banach algebra valued function can be transformed into one taking invertible values only. Elementary factors are generalizations of the simple scalar expressions λ – α, the building blocks of scalar polynomials. In the Banach algebra situation they have the form e – p + (λ – α)p with p an idempotent. The analysis elucidates old results (such as on Fredholm operator valued functions) and yields new insights which are brought to bear on the study of vector-valued logarithmic residues. These are contour integrals of logarithmic derivatives of analytic Banach algebra valued functions. Examples illustrate the subject matter and show that new ground is covered. Also a long standing open problem is discussed from a fresh angle.analytic vector-valued function;annihilating family of idempotents;elementary factor;generalizations of analytic functions;idempotent;integer combination of idempotents;logarithmic residue;plain function;resolving family of traces;topological algebras

Missed opportunities and missing markets: Spatio-temporal arbitrage of rice in Madagascar

This paper uses an exceptionally rich data set to test the extent to which markets in Madagascar are integrated across space, time, and form (in converting from paddy to rice) and to explain some of the factors that limit arbitrage and price equalization within a single country. In particular, we use rice price data across four quarters of 2000-2001 along with data on transportation costs and infrastructure availability for nearly 1400 communes in Madagascar to examine the extent of market integration at three different spatial scales sub-regional, regional, and national and determine whether non-integration is due to high transfer costs or lack of competition. The results indicate that markets are fairly well integrated at the sub-regional level and that factors such as high crime, remoteness, and lack of information are among the factors limiting competition. A lack of competition persists at the regional level and high transfer costs impede spatial market integration at the national level. Only six percent of rural communes appear to be intertemporally integrated and there appear to be significant untapped opportunities for interseasonal arbitrage. Income is directly and strongly related to the probability of a commune being in interseasonal competitive equilibrium.Marketing,

A Balanced Theory of Sourcing, Collaboration and Networks

In a synthesis of recent advances, this article gives a fresh, balanced theory of inter-organizational relations. It integrates competence and governance perspectives. It considers the choice between mergers/acquisitions and alliances. It offers a toolbox of instruments to govern relational risk, and the contingencies for their selection. Relationships can last too long. Therefore, the article also looks at how to end relationships. Beyond dyads of collaborating firms, it includes effects of network structure and position

Innovation, learning and cluster dynamics

This chapter offers a theory and method for the analysis of the dynamics, i.e. the development, of clusters for innovation. It employs an analysis of three types of embedding: institutional embedding, which is often localized, structural embedding (network structure), and relational embedding (type and strength of ties). The analysis is conducted from a perspective of both competence (learning) and the governance of relational risk, which includes risks of dependence and spillover. It employs results from earlier research in organizational learning and innovation, and in the management of inter-organizational relations. A basic proposition is that innovative clusters face the challenge of combining exploration and exploitation. Hypotheses are specified concerning differences between networks for exploration and exploitation, and concerning combinations and transitions between them. Arguments are presented that in some important respects go against the thesis of the ‘strength of weak ties’. Some empirical evidence is presented from recent studies

Anarchy, Groups, and Conflict: An Experiment on the Emergence of Protective Associations

In this paper, we investigate the implications of the philosophical considerations presented in Nozick’s Anarchy, State, and Utopia, by examining group formation in a laboratory setting where subjects engage in both cooperative and conflictual interactions. We endow participants with a commodity used to generate earnings, plunder others, or protect against plunder. In our primary treatment, we allow participants to form groups to pool their resources. We conduct a baseline comparison treatment that does not allow group formation. We find that allowing subjects to organize themselves into groups does not lead to more cooperation and may in fact exacerbate tendencies for conflict.Nozickian protective associations, Conflict, Anarchy, Experimental economics