The classical risk-neutral newsvendor problem is to decide the order quantity to maximize the one period expected pro.t under a given demand distribution. In this paper we consider a risk-averse newsvendor with a stochastic price-dependent demand. We use the Conditional Value-at-Risk (CVaR), a risk measure commonly used in finance, as the decision criterion. The aim of our study is to investiga...

The study examined the perception of benefits of organic gardening in Maiduguri Metropolis, Nigeria. Structured questionnaires were administered to obtain information from 166 respondents through multi-stage random and purposive sampling techniques. Data collected were analysed using descriptive statistics (frequency distribution, percentage and mean scores). The study indicates that the respon...

I present a model in which a voter cannot learn the consensus opinion of experts. In the model a journalist reports on an unknown state to a voter who makes a policy decision. The journalist’s report consists of the opinion of a single neutral expert and a rejoinder by an opposition party. At some cost, the party may hire a credible expert to comment on its behalf. The more uniform is expert op...

In the early 2000s high expectations existed regarding the potential contribution of biofuels to the reduction of greenhouse gas emissions and substitution of fossil fuels in transport. In recent years sobering judgments prevailed. The major barriers for a further expansion of biofuels are their high costs (compared to fossil fuels), moderate ecological performances, limited feedstocks for biof...

In the move towards a supposedly “evidence-based” cultural policy, “evidence” is rarely main driver of decision-making. If not actual basis policymaking, then what its real role? Why there so much “bad” or unverifiable evidence impact in policy documents? The article suggests focusing on recent developments theory for more accurate and sophisticated approaches connection between role that ideas...

I am concerned that we scientists in conservation biology, ecology, natural resources, environmental science, and similar disciplines are collectively slipping into a morass that risks marginalizing the contribution of science to public policy. Advocating personal positions on ecological policy issues has become widely tolerated as acceptable professional behavior and is even encouraged by a su...

in searching a market-neutral arbitrage strategy in forex market, we took a portfolio of three major currency pairs, eur-usd, usd-jpy, and eur-jpy. there are eight approaches, different cases of short and long positions; for example buying 1st and selling two others, etc. historical daily fx rates were gathered since january 1990 until february 2011. monthly covariances between daily growth rat...