Charting Forestry's Uncertain Future

Charting your company's future.

Few companies have a clear strategic vision. The problem, say the authors, stems from the strategic-planning process itself, which usually involves preparing a large document, culled from a mishmash of data provided by people with conflicting agendas. That kind of process almost guarantees an unfocused strategy. Instead, companies should design the strategic-planning process by drawing a pictur...

Charting the future from the past.

Academic surgery: future uncertain.

oral lithium carbonate in the treatment of pancreatic cholera syndrome. Pancreatic cholera: beneficial effects of treatment with streptozotocin. Muckadell OB, Lundqvist G. Streptozotocin treatment of a pancreatic tumour producing VIP and gastrin associated with Verner-Morrison syndrome. alone compared with streptozotocin plus fluorouracil in the treatment of advanced islet-cell carcinoma. Surge...

Discounting an uncertain future

The objective of this paper is to determine the socially optimal discount rate for public investment projects that entail costs and benefits in the very long run. We suppose that there is an exogenous process for the growth of consumption per capita, which is stochastic. We first evaluate the determinants of the discount rate for a specific horizon when the representative agent has a recursive ...

Saving for an uncertain future.

T he units that are subject to selection pressure in evolutionary biology are ‘‘strategies,’’ which are conditional actions (for example, do P if X occurs; otherwise do Q). In contrast, the units in economics (they are called ‘‘people’’) select strategies from available menus so as to further their projects and purposes. If evolutionary dynamics involves mindless competition among strategies, e...