Indirect Convertibility and Quasi-futures Contracts: Two Non-operational Schemes for Automatic Stabilisation of the Price Level

This paper examines two proposals for automatic stabilization of the price level based on indirect convertibility and something called a 'quasi futures contract'. These two schemes represent attempts to render operational ideas implicit in the Black (1970) Fama (1980) and Hall (1982) vision of the monetary system. Criticisms of the two schemes have been rejected by their exponents. The paper clarifies the analytical issues at stake in this debate and concludes that both schemes do suffer from fundamental flaws which would render them nonoperational. Hence, neither scheme offers an operational basis for a laissez faire banking system or provides a workable alternative to current methods of stabilising the price level.indirect convertibility, quasi-futures contracts

Importance driven environment map sampling

In this paper we present an automatic and efficient method for supporting Image Based Lighting (IBL) for bidirectional methods which improves both the sampling of the environment, and the detection and sampling of important regions of the scene, such as windows and doors. These often have a small area proportional to that of the entire scene, so paths which pass through them are generated with a low probability. The method proposed in this paper improves this by taking into account view importance, and modifies the lighting distribution to use light transport information. This also automatically constructs a sampling distribution in locations which are relevant to the camera position, thereby improving sampling. Results are presented when our method is applied to bidirectional rendering techniques, in particular we show results for Bidirectional Path Tracing, Metropolis Light Transport and Progressive Photon Mapping. Efficiency results demonstrate speed up of orders of magnitude (depending on the rendering method used), when compared to other methods

A CLIPS-based tool for aircraft pilot-vehicle interface design

The Pilot-Vehicle Interface of modern aircraft is the cognitive, sensory, and psychomotor link between the pilot, the avionics modules, and all other systems on board the aircraft. To assist pilot-vehicle interface designers, a C Language Integrated Production System (CLIPS) based tool was developed that allows design information to be stored in a table that can be modified by rules representing design knowledge. Developed for the Apple Macintosh, the tool allows users without any CLIPS programming experience to form simple rules using a point and click interface

Deactivation of TEM-1 beta-Lactamase investigated by isothermal batch and non-isothermal continuous enzyme membrane reactor methods

The thermal deactivation of TEM-1 β-lactamase was examined using two experimental techniques: a series of isothermal batch assays and a single, continuous, non-isothermal assay in an enzyme membrane reactor (EMR). The isothermal batch-mode technique was coupled with the three-state Equilibrium Model of enzyme deactivation, while the results of the EMR experiment were fitted to a four-state molten globule model . The two methods both led to the conclusions that the thermal deactivation of TEM-1 β -lactamase does not follow the Lumry-Eyring model and that the Teq of the enzyme (the point at which active and inactive states are present in equal amounts due to thermodynamic equilibrium) is at least 10 °C from the Tm (melting temperature), contrary to the idea that the true temperature optimum of a biocatalyst is necessarily close to the melting temperature

Selling Rooms and Making Money in the Lodging Industry: Analyzing the Effects of RevPAR and GOPPAR Together

Based on previous research, revenue management now focus on alternative benchmarks for assessing bottom-line performance. The advent of alternative benchmarks leads to increased analysis of the relationship between revenue and profitability within hotel management. This thesis builds on previous research of revenue and profitability with RevPAR and GOPPAR acting as proxies for revenue and profitability to determine the relationship between the two variables as well as identifying their roles and analysis within revenue management as revenue management maneuvers toward a more strategic outlook. Also, this thesis identifies whether affiliation (independent vs. chain-affiliated) and hotel service levels directly affect the correlation between RevPAR and GOPPAR. First, a comprehensive literature review discusses the evolution of revenue management practices as well as the evolution of performance benchmarking including non-financial performance assessment. The literature review also discusses the roles of RevPAR and GOPPAR in hotel management. Lastly, the literature review discusses characteristics of independent properties and the characteristics of service levels and the visibility of revenue and profitability within each affiliation and service level. The empirical results show that affiliation is not significantly related to RevPAR and GOPPAR; therefore, property affiliation does not significantly affect the correlation between RevPAR and GOPPAR. Empirical results do show that Service Level is significantly related to RevPAR and GOPPAR. Results also show how each Service Level affects the relationship strength between RevPAR and GOPPAR. The conclusion discusses managerial and academic implications

Effects of Online Parental Remediation in Alternative School Mathematics

The focus of this non-experimental correlation designed study was to investigate the relationships between the use of teacher-made instructional videos for online parental remediation in algebraic content and parental self-efficacy and students’ mathematical achievement in alternative education. The population of this study consisted of a group of 28 parents and their children who were students enrolled in an alternative school in the Southeastern United States. Multiple forms of data were analyzed that included information gained from surveys, website analytics, student assessments and parent interviews. The analyses of the data found that most parents did watch the videos and the intervention did support parental self-efficacy in mathematics. However, there was no strong correlation between the use of the videos and student achievement. The pre- and post-assessments of the control and experimental phases were not significantly different. Therefore, more research is needed on web-based parental remediation using teacher-made instructional videos and its relationship with student achievement