Facilitating Distinctive and Meaningful Change Within U.S. Law Schools (Part 2): Pursuing Successful Plan Implementation Through Better Resource Management

In Part 1 of this series, one of the current authors used institutional theory, behavioral economics, and psychology to explain why U.S. law schools have had difficulty evolving faster and better. The author then used institutional entrepreneurship to propose a seven-step, faculty-led, operational change process designed to overcome institutional isomorphism and to enable each law school to formulate a distinctive, meaningful, strategic plan. In Part 2, the current article addresses the typical implementation challenges to be expected within the context of existing law school governance. The article begins by discussing the Resource Based View of the firm and the role of resource management in achieving competitive advantages. These considerations lay the foundation for the critical role of faculty engagement and law school leadership in successful strategic plan implementation. Next, within this context, the article discusses four questions whose answers may foreshadow implementation problems. Lastly, the article discusses the results of several Monte Carlo Simulations. The simulations provide insight into the likely performance problems caused by faculty misaligned with, or disengaged from, their law school’s strategic goals. The results suggest that even minimal faculty misalignment can have a significant deleterious effect on the ability of a given law school to achieve any distinctive position. All told, the article concludes that U.S. law schools can successfully implement distinctive and meaningful strategic plans within existing shared governance structures. However, success will be difficult to achieve. It requires the full engagement and leadership by both the faculty and the Dean, sustained operational support for strategic change, and the active management of law school resources

Do Incumbents Improve Service Quality in Response to Entry? Evidence from Airlines’ On-Time Performance

We examine if and how incumbent firms respond to entry, and entry threats, using non-price modes of competition. Our analysis focuses on service quality within the airline industry. We find that incumbent on-time performance actually worsens in response to entry, and even entry threats, by Southwest Airlines. Given Southwest’s general superiority in on-time performance, this result is consistent with equilibria of theoretical models of quality and price competition, which generally predict differentiation along quality. We corroborate this intuition with further analysis, showing there is no notable response by incumbents when an airline with average on-time performance (Continental) threatens to enter or enters a route.

Multilevel Particle Filters for L\'evy-driven stochastic differential equations

We develop algorithms for computing expectations of the laws of models associated to stochastic differential equations (SDEs) driven by pure L\'evy processes. We consider filtering such processes and well as pricing of path dependent options. We propose a multilevel particle filter (MLPF) to address the computational issues involved in solving these continuum problems. We show via numerical simulations and theoretical results that under suitable assumptions of the discretization of the underlying driving L\'evy proccess, our proposed method achieves optimal convergence rates. The cost to obtain MSE $O(\epsilon^2)$ scales like $O(\epsilon^{-2})$ for our method, as compared with the standard particle filter $O(\epsilon^{-3})$

PATTERNS OF CONTINUING PROFESSIONAL DEVELOPMENT (CPD) ACTIVITIES OF SOCIAL WORKERS IN LOCAL DEPARTMENTS OF SOCIAL SERVICES OR WELFARE IN VIRGINIA

Individuals employed as social workers in local public welfare agencies in Virginia are not required to have a social work degree or mandated to participate in continuing professional development activities as a condition of their employment. The study employed survey research to investigate Continuing Professional Development (CPD) activities of Social Workers employed in local Departments of Social Services or Welfare in Virginia. Two social work-related focus groups and an expert panel of adult educators helped identify CPD activities used to construct the survey. The resulting twenty (20) CPD activities, used as the dependent variables for the study, were: formal education, mandatory training, voluntary training, supervision, mentoring, coaching, shadowing, formal peer interaction, informal peer interaction, instructing others, instructional development, computer-based learning, work-related teams, professional meetings, professional memberships, professional licensure/certification, testing/ inventories, professional reading, professional writing and critique, and reflective practice. The independent variables, employee characteristics of job class, program/practice area, total years of employment in a local agency, highest level of education, major, and agency class, were also surveyed. A proportionate, stratified random sample, N=330, of social work staff in Virginia\u27s local public welfare agencies was surveyed. The overall response rate was 62.7% (N = 207). For each of the twenty CPD activities, survey respondents were asked whether they had participated in the activity ever , within the last 3 years , and , if so, their assessment of the impact of the activity on their practice, Significant difi‘erences were found for impact on practice between those who had participated within the last three years in an activity and those who had not. There was statistically significant evidence that there is some association of certain CPD activities with time in the job and with area of practice. Two activities which had some of the highest levels of participation and were identified as contributing to professional development were professional reading and shadowing. Professional writing had the least participation, but a high level of impact for those who do participate. Further study of the relationship of the length of time employed and program/practice area hold some promise for identifying CPD patterns

Andersen-Tawil Syndrome

Andersen-Tawil syndrome (ATS) is a rare condition consisting of ventricular arrhythmias, periodic paralysis, and dysmorphic features. In 2001, mutations in KCNJ2, which encodes the α subunit of the potassium channel Kir2.1, were identified in patients with ATS. To date, KCNJ2 is the only gene implicated in ATS, accounting for approximately 60% of cases. ATS is a unique channelopathy, and represents the first link between cardiac and skeletal muscle excitability. The arrhythmias observed in ATS are distinctive; patients may be asymptomatic, or minimally symptomatic despite a high arrhythmia burden with frequent ventricular ectopy and bidirectional ventricular tachycardia. However, patients remain at risk for life-threatening arrhythmias, including torsades de pointes and ventricular fibrillation, albeit less commonly than observed in other genetic arrhythmia syndromes. The characteristic heterogeneity at both the genotypic and phenotypic levels contribute to the continued difficulties with appropriate diagnosis, risk stratification, and effective therapy. The initial recognition of a syndromic association of clinically diverse symptoms, and the subsequent identification of the underlying molecular genetic basis of ATS has enhanced both clinical care, and our understanding of the critical function of Kir2.1 on skeletal muscle excitability and cardiac action potentia

Is Dual Agency in Real Estate Transactions a Cause for Concern?

We study dual agency in residential real estate, where the same agent/agency represents both the buyer and seller. We assess the extent to which dual agency suffers from an inherent conflict of interest, where the dual agent furthers the interest of one client at the expense of the other client’s, as well as principal-agent incentive misalignment where the agent furthers her own interest at the expense of one or both clients. And, we examine how these incentive conflicts affect agent behavior and transaction outcomes. To do so, we analyze 10,891 residential real estate transactions in Long Island, NY, from 2004- 2007. Specifically, we (i) identify how dual agency is correlated with house prices and time-to-sale, (ii) describe and assess agent behaviors that could generate these correlations, and (iii) provide some intuition as to the economic effects of prohibiting dual agency in real estate transactions. We find that the incidence of dual agency is uncorrelated with sale price and negatively correlated with time-to-sale. However, on very fast deals, list prices and sale prices are significantly higher on houses sold via dual agency. These findings are consistent with first-resort selling (agents first showing houses to in-house buyer clients) and strategic pricing (agents inducing their seller clients to set a higher list price in anticipation of an internal client agreeing to it) on some deals, in conjunction with agents leaning on sellers to accept a lower sale price on other deals. First-resort selling is indicative of incentive misalignment, while the latter two behaviors reflect a conflict of interest: strategic pricing transfers surplus from the buyer to the seller, and leaning on the seller transfers surplus from the seller to the buyer. Further, our results indicate little difference between dual-agent (same agent) and within-agency (same agency, but different agent) deals. Our findings provide some evidence of distorted outcomes associated with dual agency, mainly on fast deals, but the evidence indicates mild overall effects, suggesting that prohibiting the practice is not likely to substantially increase welfare.

Onboard Atmospheric Modeling and Prediction for Autonomous Aerobraking Missions

Aerobraking has proven to be an effective means of increasing the science payload for planetary orbiting missions and/or for enabling the use of less expensive launch vehicles. Though aerobraking has numerous benefits, large operations cost have been required to maintain the aerobraking time line without violating aerodynamic heating or other constraints. Two operations functions have been performed on an orbit by orbit basis to estimate atmospheric properties relevant to aerobraking. The Navigation team typically solves for an atmospheric density scale factor using DSN tracking data and the atmospheric modeling team uses telemetric accelerometer data to recover atmospheric density profiles. After some effort, decisions are made about the need for orbit trim maneuvers to adjust periapsis altitude to stay within the aerobraking corridor. Autonomous aerobraking would reduce the need for many ground based tasks. To be successful, atmospheric modeling must be performed on the vehicle in near real time. This paper discusses the issues associated with estimating the planetary atmosphere onboard and evaluates a number of the options for Mars, Venus and Titan aerobraking missions

Catalogue of solar activity during 1957

Catalog of major solar activity during 195