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This paper aims to compare style and behavior-focused individual difference measures in their ability to uniquely predict naturally occurring conflict acts.

Primary participants (and a friend of their choosing) completed a style measure and a behavior-focused measure about the primary participants and reported on the occurrence of a variety of conflict actions over a 60-day period.

For self-ratings and friend ratings, both the style measure and the behavior-focused measure were significantly related to the occurrence of conflict acts. However, the unique effect of the behavior-focused measure was stronger than that of the style measure.

The data were collected from college students, thus limiting the generalizability of the findings. The measure of conflict acts was based on recall, which may also be subject to error and bias. In terms of implications, the findings strongly suggest that behavior-focused instruments are superior to style measures in predicting everyday conflict acts.

Because the behavior-focused individual difference measure was a better predictor of actual behavior than the style measure, investigators interested in such prediction may want to seriously consider using such measures.

Little research exists regarding the relative predictive abilities of style measures and behavior-focused measures; this paper provides some of the first such evidence.

This article discusses static hedges for installment options, which are finding broad application in cases where the option‐buyer may reduce up‐front premium costs via early termination of an option. An installment option is a European option in which the premium, instead of being paid up front, is paid in a series of installments. If all installments are paid, the holder receives the exercise value, but the holder has the right terminate payments on any payment date, in which case the option lapses with no further payments on either side. The authors summarize pricing and risk management concepts for these options, in particular, using static hedges to obtain both no‐arbitrage pricing bounds and very effective hedging strategies with almost no vega risk.

The purpose of this chapter is to study the mathematisation of finance – excessive use of mathematical models in finance – which has been widely blamed for the recent financial and economic crisis. We argue that the problem might actually be the financialisation of mathematics, as evidenced by the gradual embedding of branches of mathematics into financial economics. The concept of embeddedness, originally proposed by Polanyi, is relevant to describe the sociological relationship between fields of knowledge. After exploring the relationship between mathematics, finance and economics since antiquity, we find that theoretical developments in the 1950s and 1970s lead directly to this embedding. The key implication of our findings is the realization that it has become necessary to disembed mathematics from finance and economics, and proposes a number of partial steps to facilitate this process. This chapter contributes to the debate on the mathematisation of finance by uniquely combining a historical approach, which chronicles the evolution of the relation between mathematics and finance, with a sociological approach from the perspective of Polyani’s concept of embedding.

Many jurisdictions fine illegal cartels using penalty guidelines that presume an arbitrary 10% overcharge. This article surveys more than 700 published economic studies and judicial decisions that contain 2,041 quantitative estimates of overcharges of hard-core cartels. The primary findings are: (1) the median average long-run overcharge for all types of cartels over all time periods is 23.0%; (2) the mean average is at least 49%; (3) overcharges reached their zenith in 1891–1945 and have trended downward ever since; (4) 6% of the cartel episodes are zero; (5) median overcharges of international-membership cartels are 38% higher than those of domestic cartels; (6) convicted cartels are on average 19% more effective at raising prices as unpunished cartels; (7) bid-rigging conduct displays 25% lower markups than price-fixing cartels; (8) contemporary cartels targeted by class actions have higher overcharges; and (9) when cartels operate at peak effectiveness, price changes are 60–80% higher than the whole episode. Historical penalty guidelines aimed at optimally deterring cartels are likely to be too low.

The concept and practice of e-services has become essential in business transactions. Yet there are still many organizations that have not developed e-services optimally. This is especially relevant in the context of Indonesian Airline companies. Therefore, many airline customers in Indonesia are still in doubt about it, or even do not use it. To fill this gap, this study attempts to develop a model for e-services adoption and empirically examines the factors influencing the airlines customers in Indonesia in using e-services offered by the Indonesian airline companies. Taking six Indonesian airline companies as a case example, the study investigated the antecedents of e-services usage of Indonesian airlines. This study further examined the impacts of motivation on customers in using e-services in the Indonesian context. Another important aim of this study was to investigate how ages, experiences and geographical areas moderate effects of e-services usage.

The study adopts a positivist research paradigm with a two-phase sequential mixed method design involving qualitative and quantitative approaches. An initial research model was first developed based on an extensive literature review, by combining acceptance and use of information technology theories, expectancy theory and the inter-organizational system motivation models. A qualitative field study via semi-structured interviews was then conducted to explore the present state among 15 respondents. The results of the interviews were analysed using content analysis yielding the final model of e-services usage. Eighteen antecedent factors hypotheses and three moderating factors hypotheses and 52-item questionnaire were developed. A focus group discussion of five respondents and a pilot study of 59 respondents resulted in final version of the questionnaire.

In the second phase, the main survey was conducted nationally to collect the research data among Indonesian airline customers who had already used Indonesian airline e-services. A total of 819 valid questionnaires were obtained. The data was then analysed using a partial least square (PLS) based structural equation modelling (SEM) technique to produce the contributions of links in the e-services model (22% of all the variances in e-services usage, 37.8% in intention to use, 46.6% in motivation, 39.2% in outcome expectancy, and 37.7% in effort expectancy). Meanwhile, path coefficients and t-values demonstrated various different influences of antecedent factors towards e-services usage. Additionally, a multi-group analysis based on PLS is employed with mixed results. In the final findings, 14 hypotheses were supported and 7 hypotheses were not supported.

The major findings of this study have confirmed that motivation has the strongest contribution in e-services usage. In addition, motivation affects e-services usage both directly and indirectly through intention-to-use. This study provides contributions to the existing knowledge of e-services models, and practical applications of IT usage. Most importantly, an understanding of antecedents of e-services adoption will provide guidelines for stakeholders in developing better e-services and strategies in order to promote and encourage more customers to use e-services. Finally, the accomplishment of this study can be expanded through possible adaptations in other industries and other geographical contexts.

Information and communications technology (ICT) offers enormous opportunities for individuals, businesses and society. The application of ICT is equally important to economic and non-economic activities. Researchers have increasingly focused on the adoption and use of ICT by small and medium enterprises (SMEs) as the economic development of a country is largely dependent on them. Following the success of ICT utilisation in SMEs in developed countries, many developing countries are looking to utilise the potential of the technology to develop SMEs. Past studies have shown that the contribution of ICT to the performance of SMEs is not clear and certain. Thus, it is crucial to determine the effectiveness of ICT in generating firm performance since this has implications for SMEs’ expenditure on the technology. This research examines the diffusion of ICT among SMEs with respect to the typical stages from innovation adoption to post-adoption, by analysing the actual usage of ICT and value creation. The mediating effects of integration and utilisation on SME performance are also studied. Grounded in the innovation diffusion literature, institutional theory and resource-based theory, this study has developed a comprehensive integrated research model focused on the research objectives. Following a positivist research paradigm, this study employs a mixed-method research approach. A preliminary conceptual framework is developed through an extensive literature review and is refined by results from an in-depth field study. During the field study, a total of 11 SME owners or decision-makers were interviewed. The recorded interviews were transcribed and analysed using NVivo 10 to refine the model to develop the research hypotheses. The final research model is composed of 30 first-order and five higher-order constructs which involve both reflective and formative measures. Partial least squares-based structural equation modelling (PLS-SEM) is employed to test the theoretical model with a cross-sectional data set of 282 SMEs in Bangladesh. Survey data were collected using a structured questionnaire issued to SMEs selected by applying a stratified random sampling technique. The structural equation modelling utilises a two-step procedure of data analysis. Prior to estimating the structural model, the measurement model is examined for construct validity of the study variables (i.e. convergent and discriminant validity).

The estimates show cognitive evaluation as an important antecedent for expectation which is shaped primarily by the entrepreneurs’ beliefs (perception) and also influenced by the owners’ innovativeness and culture. Culture further influences expectation. The study finds that facilitating condition, environmental pressure and country readiness are important antecedents of expectation and ICT use. The results also reveal that integration and the degree of ICT utilisation significantly affect SMEs’ performance. Surprisingly, the findings do not reveal any significant impact of ICT usage on performance which apparently suggests the possibility of the ICT productivity paradox. However, the analysis finally proves the non-existence of the paradox by demonstrating the mediating role of ICT integration and degree of utilisation explain the influence of information technology (IT) usage on firm performance which is consistent with the resource-based theory. The results suggest that the use of ICT can enhance SMEs’ performance if the technology is integrated and properly utilised. SME owners or managers, interested stakeholders and policy makers may follow the study’s outcomes and focus on ICT integration and degree of utilisation with a view to attaining superior organisational performance.

This study urges concerned business enterprises and government to look at the environmental and cultural factors with a view to achieving ICT usage success in terms of enhanced firm performance. In particular, improving organisational practices and procedures by eliminating the traditional power distance inside organisations and implementing necessary rules and regulations are important actions for managing environmental and cultural uncertainties. The application of a Bengali user interface may help to ensure the productivity of ICT use by SMEs in Bangladesh. Establishing a favourable national technology infrastructure and legal environment may contribute positively to improving the overall situation. This study also suggests some changes and modifications in the country’s existing policies and strategies. The government and policy makers should undertake mass promotional programs to disseminate information about the various uses of computers and their contribution in developing better organisational performance. Organising specialised training programs for SME capacity building may succeed in attaining the motivation for SMEs to use ICT. Ensuring easy access to the technology by providing loans, grants and subsidies is important. Various stakeholders, partners and related organisations should come forward to support government policies and priorities in order to ensure the productive use of ICT among SMEs which finally will help to foster Bangladesh’s economic development.

The second reading of the Agricultural Produce (Grading and Marking) Bill (Lords) came before the House of Commons on April 19th. The measure has passed through all stages in the House of Lords. Mr. Guinness (Minister of Agriculture) said the object of the Bill was to lay the foundation for a better system of marketing home produce by developing arrangements for grading and marking. Anyone who took the trouble to look at the produce now offered for sale must be convinced that very much home produce of excellent quality was spoilt by its unattractive presentment. Foreign supplies, benefiting by their reliability and uniformity, were often far ahead in the appearance they made in our markets. The remedy was to grade home produce so that the poor quality did not depress the value of the better quality. The Ministry of Agriculture had carried out practical experiments on a commercial scale, and demonstrations during the last couple of years at agricultural shows. These demonstrations had taken place with eggs and poultry, fruit, potatoes, pigs, pork and bacon, and farmers had been quick to take up the new idea. In the big centres of population markets were coming more and more to demand bulk supplies and uniform quality. Foreign competition had taught the advantage which was to be found in the condition and reliability of supplies if they were packed in standardised non‐returnable containers. The home producer could no longer afford to stand aside from this movement, and must take steps to comply with modern developments in the markets. If the Bill was passed, the Ministry proposed at once to deal with two branches of production. Already the Ministry had prepared schemes for the grading of eggs which had been developed by the Poultry Advisory Committee of the Ministry upon which producers and distributors were represented. The schemes had been approved by the various interests concerned. Grades had also been worked out for fruit and schemes for applying them provisionally agreed upon with the National Farmers' Union. Clause I. enabled the Ministry to define by regulation grade designations. It would be entirely voluntary, and nobody would need to use the grades, but if they were used, then they would constitute a warranty under which the purchaser would have a remedy if the goods were not up to standard. Under Clause II. the Minister was empowered to prescribe grade designation marks and authorise any person or body of persons to use such marks. The same mark would be used on all standard productions, and would only be authorised in the case of goods of defined standard and quality. To build up this reputation and goodwill of the mark, its use would be safeguarded by being limited to those who would conform to certain conditions. The use of the national mark would be controlled by a National Mark Committee, which would be advised by trade committees representing the various commodity interests. Clauses 3 and 4 dealt with preserved eggs and the cold and chemical storage of eggs, and were for the protection of producers and consumers of new‐laid eggs. The operation of these clauses would be dependent on an order being in force for marking foreign eggs under the Merchandise Marks Act. As Clause 4 stood it was proposed that the eggs should be marked before being moved into the store. He had, however, received representations from the cold storage trade, and proposed to move an amendment in committee to provide that eggs need not necessarily be marked before being placed in these stores, but must be marked before they were moved out. He hoped the Bill would receive support in all quarters of the House. The World Economic Conference which met at Geneva last year stated that the improvement of agriculture must, in the first place, be the work of agriculturists themselves. Amongst the methods suggested at the conference was the standardisation of agricultural produce in the interests both of the producers and the consumers. The three political parties in this country in their published programmes had recently stressed the importance of grading and standardisation. He did not suggest that marking alone could restore the agricultural industry to prosperity, but the proposed reforms must be of great assistance. The Bill was not brought forward as an emergency cure, but the proposed developments were absolutely necessary if the producer was to secure a fair return. Mr. A. V. Alexander moved: That, whilst this House is in favour of a proper system of grading and marking agricultural produce and is prepared to consider proposals to this end, it objects to the second reading of a Bill containing provisions relating to the marking of imported eggs contrary to the findings of the standing committee of inquiry appointed under the Merchandise Marks Act.— Speaking on behalf of the co‐operative movement, he said it was impossible to buy level grades of home produce in sufficiently large quantities and with a sufficient guarantee of continued supply to fill the distributing centres. But he doubted whether the proposals of the Bill were adequate to meet the situation. In the Dominions the grading was carried out by Government officials. Regarding eggs, he believed the Government had adopted an entirely wrong procedure. It had tried deliberately to get behind the findings of the committee set up to deal with the application for the marking of eggs.—Mr. Macquisten, speaking as an egg consumer, asked what right Mr. Alexander had to prevent him knowing where his breakfast egg was laid. There was far too much deceit of customers all through the retail trade.—Sir J. Simon asked if the Bill was not put forward in flat defiance of the recommendation of the Standing Committee on Eggs set up by the Ministry of Agriculture. That Committee said that if the best imported eggs were marked they would derive more advantage than home‐produced eggs, unless a substantial improvement were first effected in the home methods of grading and marketing. He did not imagine that the British barn‐door fowl was not as capable of doing her duty as the corresponding lady in other parts of the world, but were the facts as these experts stated?—Mr. Macquisten: Were these gentlemen egg‐growers? Mere evidence is no guarantee because the Leader of the Opposition did not know whether a hen cackled before or after laying an egg.— Sir J. Simon: This report in very straightforward terms asserts that to mark the best imported eggs in the present state of affairs is not going to produce the good results desired by this Bill. The Committee say as their principal recommendation: “An Order in Council (Marking Order) in respect of eggs should only be made when sufficient improvement has been made in the collecting, grading, packing and marketing of British eggs to remove, or at least mitigate, the danger of the best imported egg obtaining a better market in the United Kingdom than the home‐produced egg.” It is no good to say that we want to help the poultry farmer when there is this report warning us that if we adopt this very natural course we may be doing a very foolish thing. I want to know what the Government says in face of that report in justification of what they are doing.—Mr. Lloyd George regarded the Bill as a very important step towards marketing produce. Unless they had improvement in marketing, every scheme to assist the agricultural industry must prove a failure. At present we were importing £327,000,000 worth of produce of the very kind which the climate of this country would enable us to produce. Marketing was the first essential in solving the problems of the agricultural industry. The next thing was grading. With better grading better prices would be secured. He was very glad the Minister of Agriculture had introduced the Bill, and he hoped it would be passed.—Mr. Guinness, in reply, pointed out that the Bill did not lay down any regulation as to the marking of foreign eggs or any other produce. Its purpose was to enable us to get better grading, packing and standardisation of our own produce. Whether foreign eggs were marked or not the Bill would enable British eggs to be properly graded, but long before eggs were graded under the Bill he hoped to see the grading of this year's apple crop, with the same excellent result on prices as was found last year in the case of the experiment that was tried. He could also reassure Sir J. Simon that, far from upsetting the recommendations of the Committee, the Bill aimed at carrying them out. The debate had suggested that there had been a nefarious plot to get behind the Committee, and that his action in trying to carry out the recommendations of the Committee was a menace to the purity of English public life. No attempt had been made to interfere with the discretion of the Committee.—On a division the amendment was defeated by 237 votes to 97, and the Bill was read a second time.

We have observed in the reports of those engaged in the administration of the Acts several references to the practice of milking so that a portion of the milk is left in the udder of the cow, this portion being removed subsequently and not included in the milk sent out to customers. The inspector for the southern division of the county of Northampton reports that on a sample of milk being found deficient in fat to the extent of 17 per cent., a further sample was taken at the time of milking when a milkman was found to be not properly “stripping” the cows. He was warned. The analyst for the county of Notts writes: “The first strippings obtained before the milk glands have been normally excited by the milking are very low in fat yet are “genuine” milk in the sense that nothing has been added to or taken from it. It is nonsense to talk of genuine milk in the sense that everything that comes from the udder of the cow is to be taken as genuine milk fit for sale.” In a case tried before the Recorder of Middlesbrough, one witness said that among some farmers it was a common practice not to “strip” cows until after the milk was sent away.

In this two-part case, Richard Davis and Stephen Hodgetts, co-owners of D&H Management LLC, are trying to come to terms with changes in the real estate market‐changes that have made their rental homes worth less than their mortgages and at best yielding at most a break-even cash flow. In Part A Davis and Hodgetts are weighing the following options: (1) sell all of the properties, assume a loss (walk away with nothing), and avoid the negative cash flow; (2) walk away from all of the properties, assume a loss (walk away with nothing), and avoid the negative cash flow; (3) delay paying the mortgage on some of the homes, allow these properties, if necessary, to go into foreclosure, and in the interim use the positive cash flow to shore up some of the more positive cash flow homes; (4) contact all of the lenders and try to renegotiate the mortgages so as to have lower monthly rates.

In Part B Davis proposes that he and Hodgetts go their separate ways. Davis walks away with the two properties that have mortgages in his name, while Hodgetts obtains the four properties that have mortgages in his. From Hodgettsʼ perspective this is a losing proposition since (1) he would have to take over the management of four “loser” properties rather than Davisʼs two, an ʼunfairʼ split of the liabilities; (2) he had no interest in managing properties; and (3) he and Davis would be splitting up a long-standing team.