Postponement and the wealth of nations

In this paper, Fair Value Chain Creation (FVC2;), as an approach that applies and extends principles of Fair Trade to exports from developed countries to the less developed countries, is being introduced. It awards a Fair Value label to goods which undergo further value adding in the host market. FVC2; attempts to utilize a label pointing at made for rather than made in by emblematizing the degree of Fair Value involved. Building on logistics and manufacturing postponement allows FVC2; to balance value chains in such a way that both stakes (North - South; developed countries - developing countries; country of origin - host market) are going to profit. Developing countries can increase their share in value chains originating from Northern countries. In turn, this enables those developed countries and corresponding manufacturers to level their resources. While postponing none-core activities to the developing countries and the respective host markets, manufacturers can focus even more on core processes. In fact, FVC2; mostly employs humans instead of machines. It makes labor a promoted option. Based on free-market mechanisms, like opportunity costs and the production possibilities frontier, the authors prove FVC2; being an attempt in the market and on the structure of global value chains. Fair Value Chain Creation is driven by enhanced global logistics performance. Thus, and in contrast to Fair Trade, FVC2; requires no price premium being paid by the consumer and therefore no stringent inspection of its application. Nonetheless, every labeling initiative requires an authority to prevent malpractice. The authors show, before such an initiative can be put into practice, that it is particularly evident to define the developing gap enabling to specify the potential and spectrum of FVC2;. This gap arises from globalization and enhanced logistics performance (foremost postponement). --Fair Trade,Fair Value Chain,Fair Value Creation,Postponement,Wealth of Nations

Satellite snowcover and runoff monitoring in central Arizona

The author has identified the following significant results. Although the very high resolution experimental LANDSAT imagery permits rapid snow cover mapping at low cost, only one observation is available very 9 days. In contrast, low resolution operational imagery acquired by the ITOS and SMS/GOES satellites provide the daily synoptic observations necessary to monitor the rapid changes in snow covered areas in the entire Salt-Verde watershed. Geometric distortions in meteorological satellite imagery require specialized optical equipment or digital image processing for snow cover mapping

DISTRIBUTION CHOICE UNDER NULL PRIORS AND SMALL SAMPLE SIZE

Defining appropriate probability distributions for the variables in an economic model is an important and often arduous task. This paper evaluates the performance of several common probability distributions under different distributional assumptions when sample sizes are small and there is limited information about the data.Research Methods/ Statistical Methods,

Bounds on Lorentz and CPT Violation from the Earth-Ionosphere Cavity

Electromagnetic resonant cavities form the basis of many tests of Lorentz invariance involving photons. The effects of some forms of Lorentz violation scale with cavity size. We investigate possible signals of violations in the naturally occurring resonances formed in the Earth-ionosphere cavity. Comparison with observed resonances places the first terrestrial constraints on coefficients associated with dimension-three Lorentz-violating operators at the level of 10^{-20} GeV.Comment: 8 pages REVTe

Progress Report to the TNRC for Analysis of the Economics of Atrazine Remediation for Representative Grain Farms in the Aquilla Watershed, Hill County, Texas: Subtasks 4.0-4.4

Four alternative BMPs for atrazine remediation were reported by Harmon and Wang for the study area. The BMPs involved alternative incorporation practices, tillage operations, and sediment ponds. Harmon and Wang reported no statistical difference in corn yields under the alternative BMPs. An economic analysis of four alternative best management practices (BMPs) for atrazine remediation in Hill County, Texas, was performed by the Agricultural and Food Policy Center (AFPC) at Texas A&M University. Using the farm-level economic simulation model FLIPSIM, AFPC scientists analyzed the financial effects of the alternative BMPs on the Texas Blackland Prairie representative farm. This farm consists of 2,000 dryland acres, divided among corn (600 acres), sorghum (750 acres), wheat (250 acres), and native pasture (150 acres). This farm also maintains a small beef cowherd. Regularly updated, the AFPC maintains more than 80 farms across the nation that form the basis for probabilistic-based agricultural policy evaluation.Agricultural and Food Policy, Resource /Energy Economics and Policy,

STOCHASTIC EFFICIENCY ANALYSIS USING MULTIPLE UTILITY FUNCTIONS

Evaluating the risk of a particular decision depends on the risk aversion of the decision maker related to the underlying utility function. The objective of this paper is to use stochastic efficiency with respect to a function (SERF) to compare the ranking of risky alternatives using alternative utility functional forms.Research Methods/ Statistical Methods,

Stochastic efficiency analysis with risk aversion bounds: a simplified approach

A method of stochastic dominance analysis with respect to a function (SDRF) is described and illustrated. The method, called stochastic efficiency with respect to a function (SERF), orders a set of risky alternatives in terms of certainty equivalents for a specified range of attitudes to risk. It can be applied for conforming utility functions with risk attitudes defined by corresponding ranges of absolute, relative or partial risk aversion coefficients. Unlike conventional SDRF, SERF involves comparing each alternative with all the other alternatives simultaneously, not pairwise, and hence can produce a smaller efficient set than that found by simple pairwise SDRF over the same range of risk attitudes. Moreover, the method can be implemented in a simple spreadsheet with no special software needed.Risk and Uncertainty,