Large deviations of a modified Jackson network: stability and rough asymptotics

Consider a modified, stable, two node Jackson network where server 2 helps server 1 when server 2 is idle. The probability of a large deviation of the number of customers at node one can be calculated using the flat boundary theory of Schwartz and Weiss [Large Deviations Performance Analysis (1994), Chapman and Hall, New York]. Surprisingly, however, these calculations show that the proportion of time spent on the boundary, where server 2 is idle, may be zero. This is in sharp contrast to the unmodified Jackson network which spends a nonzero proportion of time on this boundary.Comment: Published at http://dx.doi.org/10.1214/105051604000000666 in the Annals of Applied Probability (http://www.imstat.org/aap/) by the Institute of Mathematical Statistics (http://www.imstat.org

Restoring Trust Relationships within Collaborative Digital Preservation Federations

4th International Conference on Open RepositoriesThis presentation was part of the session : Conference PresentationsDate: 2009-05-19 01:00 PM – 02:30 PMThe authors extend their process for creating and establishing trust relationships to include steps for restoring trust relationships after catastrophic events. Part of this model will include best practices for business continuity relationships and will integrate trust models from Holland and Lockett (1998) and Ring and Van de Ven (1994) and how they can be applied to a process for trust restoration after periods of disaster or critical data loss. These models provide key frameworks for understanding how trust can be utilized for collaborative start points as well as for collaborative recovery points from physical natural disaster or critical data loss

The Value of Waiting to Invest

This paper studies the optimal timing of investment in an irreversible project where the benefits from the project and the investment cost follow continuous-time stochastic processes. The optimal time to invest and an explicit formula for the value of the option to invest are derived. The rule "invest if benefits exceed costs" does not properly account for the option value of waiting.Simulations show that this option value can be significant, and that for surprisingly reasonable parameter values it may be optimal to wait until benefits are twice the investment cost. Finally, we perform comparative static analysis on the valuation formula and on the rule for when to invest.

Bank Financing and Investment Decisions with Asymmetric Information

Banks know more about the quality of their assets than do outside investors. This informational asymmetry can distort investment decisions if the bank must raise funds from uninformed outsiders, and assets sold will be subject to a lemons discount. Using a three-period equilibrium model we examine the effect of asymmetric information about loan quality on the asset and liability decisions of banks and the market valuation of bank liabilities. The existence of a precautionary demand for T-bills against future liquidity needs depends both on the regulatory environment and the informational structure. If banks are ex ante identical, issuing risky debt to fund a deposit outflow is preferred to holding T-bills ex ante. However, if banks have partial knowledge of loan quality, and if their asset choice is observable, they may hold T-bills to signal their quality, enabling them to issue risky debt at a lower interest rate.

Responsive socio-cultural contexts: Supporting five year olds to become literate in a second language.

Learning one's own indigenous language and culture as a second language learner within formal mainstream education settings can pose many challenges, especially for students who have been raised in the dominant first language and who are just beginning school. This paper discusses a Māori language resource used by a Māori immersion teacher to respond to these challenges. This resource utilises community support to develop students' phonological awareness while simultaneously increasing their oral language. This study shows that within a relatively short period of time, students' phonological knowledge improved along with their confidence and ability to speak in Māori. With these skills they were then able to progress more successfully to becoming literate in Māori, their second language