Environmental Standards as Strategic Outcomes : A Simple Model

This paper examines the strategic nature of choice of environmental standards under different degrees of openness of countries. It also compares and contrasts equilibrium environmental standards and levels of pollution, local and global, with the world optimum levels. It shows that, in case of open economies, environmental standards can be strategic substitutes or complements. In equilibrium, countries set higher environmental standards in case of open economies compared to that in case of closed economies. It also shows that equilibrium standards in case of open economies are higher than the world optimum in certain situations. In contrast, countries set lower environmental standards, in equilibrium, than the world optimum in absence of international trade.Environmental standards, strategic choice, openness, world optimum

A Note on Noncommutative String theory and its low energy limit

The noncommutative string theory is described by embedding open string theory in a constant second rank antisymmetric $B_{\mu\nu}$ field and the noncommutative gauge theory is defined by a deformed $\star$ product. As a check, study of various scattering amplitudes in both noncommutative string and noncommutative gauge theory confirm that in the $\alpha^{'}\to 0$ limit, the noncommutative string theoretic amplitude goes over to the noncommutative gauge theoretic amplitude, and the couplings are related as $g_{YM}=G_0\sqrt{\frac{1}{2\alpha^{'}}}$. Furthermore we show that in this limit there will not be any correction to the gauge theoretic action because of absence of massive modes. We get sin/cos factors in the scattering amplitudes depending on the odd/even number of external photons.Comment: 14 pages including 2 figure

Bridging the gap? Corruption, knowledge and foreign ownership

We argue that in addition to host corruption per se, as accounted for by the existing literature, an explanation of inter-country variation in FDI needs to account for the distance between the host and home corruption, which we call relative corruption. We use a large matched home-host firm-level panel data-set for 1998-2006 from CEE transition countries. Year-specific selectivity corrected estimates suggest that, ceteris paribus, higher relative ‘grand’ corruption lowers foreign ownership as the returns to investment tends to be lower in more corrupt environment. However, after controlling for the selectivity bias, knowledge-intensive parent firms are found to hold controlling ownership, as the difficulty of successful joint venture looms large in more corrupt environment. Results are robust to alternative specifications.Financial support from the ESRC under RES-062-23-0986 is acknowledge

Adversarial Data Programming: Using GANs to Relax the Bottleneck of Curated Labeled Data

Paucity of large curated hand-labeled training data for every domain-of-interest forms a major bottleneck in the deployment of machine learning models in computer vision and other fields. Recent work (Data Programming) has shown how distant supervision signals in the form of labeling functions can be used to obtain labels for given data in near-constant time. In this work, we present Adversarial Data Programming (ADP), which presents an adversarial methodology to generate data as well as a curated aggregated label has given a set of weak labeling functions. We validated our method on the MNIST, Fashion MNIST, CIFAR 10 and SVHN datasets, and it outperformed many state-of-the-art models. We conducted extensive experiments to study its usefulness, as well as showed how the proposed ADP framework can be used for transfer learning as well as multi-task learning, where data from two domains are generated simultaneously using the framework along with the label information. Our future work will involve understanding the theoretical implications of this new framework from a game-theoretic perspective, as well as explore the performance of the method on more complex datasets.Comment: CVPR 2018 main conference pape

How does ownership structure affect capital structure and firm performance? Recent evidence from east Asia

The present paper empirically examines the effects of ownership structure on capital structure and firm valuation in four East Asian countries worst affected by the last Crisis. In doing so, we distinguish ownership from both control and management and also allow for the simultaneity between capital structure and firm valuation in the sample countries. Results obtained from 3SLS estimates with error components confirm and extend the findings of Claessens et al. (2002) and particularly highlight the contrasting behaviour of family firms and non-family firms with/without a Cronyman

Designing fuzzy rule based classifier using self-organizing feature map for analysis of multispectral satellite images

We propose a novel scheme for designing fuzzy rule based classifier. An SOFM based method is used for generating a set of prototypes which is used to generate a set of fuzzy rules. Each rule represents a region in the feature space that we call the context of the rule. The rules are tuned with respect to their context. We justified that the reasoning scheme may be different in different context leading to context sensitive inferencing. To realize context sensitive inferencing we used a softmin operator with a tunable parameter. The proposed scheme is tested on several multispectral satellite image data sets and the performance is found to be much better than the results reported in the literature.Comment: 23 pages, 7 figure