ANALYTICAL AND COMPUTER-SIMULATION TECHNIQUES FOR A STOCHASTIC-MODEL ARISING IN DISCOUNTING CONTINUOUS UNIFORM CASH FLOWS

Present-value models axe currently available for both single cash flows and continuous uniform cash flows under uncertain timing. Recent work by the authors has concentrated mainly on establishing theoretical results concerning the conditions under which unimodality will be introduced into the present-value distribution, particularly under exponential timing. Apart from the conventional (0) unimodality, there are two other forms of unimodality available which refer more to the nature of the unimodal behaviour rather than its location. When the timing mechanism operating for a continuous uniform cash flow is modelled by a geometrically distributed sum of exponential inter-assessment times, this paper establishes that the present-value distribution adopts a form of unimodality which is conceptually and structurally distinct from that form of unimodality adopted within the single cash flow analogue. Each present-value distribution will therefore become (0) unimodal under different prevailing economic conditions. One financial implication of these results is that it should be possible to develop coherent funding strategies for selecting a single cash flow option or a continuous uniform cash flow option having due regard to the current financial climate

Revista de educación

Resumen tomado de la publicación. Monográfico con el título: 'La educación ante la inclusión del alumnado con necesidades específicas de apoyo'Se examinan los puntos de vista de los maestros de educación general griega respecto a la viabilidad y conveniencia de adaptaciones en la enseñanza rutinaria así como explorar el razonamiento subyacente en sus respuestas. Los datos se recogen mediante entrevistas que incluyen preguntas estructuradas y otras semiestructuradas. Al procesar las entrevistas se utiliza una versión modificada de la Escala de Adaptación de la Enseñanza (EAE). La escala permite la evaluación de las percepciones de los maestros con respecto a las adaptaciones en la enseñanza y su viabilidad y conveniencia en cinco de las seis categorías originales que incluyen: organización en el aula, estrategias de agrupamiento, enseñanza adicional, ajuste de actividades y análisis de la formación. La mayoría de los participantes comunicaron que utilizan la mayoría de las adaptaciones pero que, nunca o raramente, han utilizado: agrupamiento entre clases, actividades con varios grados de dificultad, actividades diversas, recursos específicos y ordenadores. Éstas son también las adaptaciones más deseadas que viables, a excepción de la utilización de materiales específicos. Al mismo tiempo, una minoría de maestros no quería algunas adaptaciones, entre las que están: agrupar clases, agrupar a los estudiantes en parejas, proporcionar enseñanza adicional a algunos subgrupos de la clase, implementar actividades con varios niveles de dificultad, mandar diversas actividades, y utilizar material alternativo, recursos específicos y ordenadores. El principal resultado de la investigación es que todos los participantes se aferran al ritmo de trabajo, temario e implementación del libro de texto. Los inconvenientes observados son la falta de tiempo, temario sobrecargado, área académica influida por la manera en la que los maestros respondieron, errores conceptuales de los maestros en la comprensión y conocimiento de adaptaciones particulares. Se analizan las implicaciones en la formación de maestros, a la vez que se habla de respuestas de inclusión y prácticas reglamentarias.The aim of the study is to examine greek mainstream teachers' views concerning the feasibility and desirability of routine instructional asaptations, and to explore the reasoning underpinning their responses. Data were collected by using interviews, which included both highly-and semi-structured questions. A modified version of the Teaching Adaptation Scale (TAS) was used for the interviews process. The scale allowed for the evaluation of teachers' perceptions of instructional adaptations and their feasibility and desirability in five out of the six original categories, including: classroom management, grouping strategies, additional teaching, activity adjustment and foprmative assessment. The majority of participants reported that they use frequently most of the adaptations included whilst those used rarely or never used by teachers were: between-class grouping, activities at various levels of difficulty, diverse activities, specific resources and computers. These were also the adaptations -with the exception of using specific resources- that were deemed to be more desirable than feasible. At the same time, some adaptations were not desired by a minority of teachers including between-class grouping, grouping all students in pairs, providing additional teaching to certain subgroups in the class, implementing activities at variuos levels of difficulty, asking for diverse activities, and using alternative material, specific resources and computers. The most salient and recurrent finding was that all of the participants were strngly bounded by pace, curriculum and the implementation of the textbook. Lack of time and time and the overloaded sykkabuses were reported as some of the main barriers prohibiting the implementation of adaptations. Further, the academic context seemed to influence the pattern of teachers' responses while a number of misconceptions were revealed in teachers' understanding and knowledge of particular adaptations. Implications in terms of teachers' trining, inclusive responses and policy practices are discussed and analysed.MadridBiblioteca de Educación del Ministerio de Educación, Cultura y Deporte; Calle San Agustín, 5 - 3 Planta; 28014 Madrid; Tel. +34917748000; [email protected]

A stochastic model for proactive risk management decisions

The analysis of stochastic discounting models provides one of the more powerful tools available for decision-making under conditions of uncertainty. This paper is mainly devoted to the establishment of properties and applications of a particular stochastic discounting model. More precisely, the paper investigates some of the theoretical problems encountered in a stochastic discounting model when assessing mutually exclusive options, and establishes the advantages of considering risk retention in proactive risk-management programs