The ability to adapt to a changing environment is necessary for the survival of organizations. The evolutivity of organizational routines is therefore a fundamental issue for both theorists and practitioners. In this "theory building" paper, we adopt a variance perspective and a process perspective to meet this issue. In a variance perspective, by analyzing the contingency of results of the lit...

Consider a random matrix whose variance profile is random. This random matrix is ergodic in one channel realization if, for each column and row, the empirical distribution of the squared magnitudes of elements therein converges to a nonrandom distribution. In this paper, noncrossing partition theory is employed to derive expressions for several asymptotic eigenvalue moments (AEM) related quanti...

Expressivism’s central idea is that normative sentences bear the same relation to non-cognitive attitudes that ordinary descriptive sentences bear to beliefs: the expression relation. Allan Gibbard tells us that ‘‘that words express judgments will be accepted by almost everyone’’ – the distinctive contribution of expressivism, his claim goes, is only a view about what kind of judgments words ex...

Volatility derivatives are a class of derivative securities where the payoff explicitly depends on some measure of the volatility of an underlying asset. Prominent examples of these derivatives include variance swaps and VIX futures and options. We provide an overview of the current market for these derivatives. We also survey the early literature on the subject. Finally, we provide relatively ...

Let K ⊂ R be a smooth convex set and let Pλ be a Poisson point process on R of intensity λ. The convex hull of Pλ ∩ K is a random convex polytope Kλ. As λ → ∞, we show that the variance of the number of k-dimensional faces of Kλ, when properly scaled, converges to a scalar multiple of the affine surface area of K. Similar asymptotics hold for the variance of the number of k-dimensional faces fo...

• Technology Affordances Gaver, W. • Affordances: Clarifying and Evolving a Concept Joanna McGrenere, Wayne Ho • Affordances, Conventions and Design – Donald A. Norman • But how, Donald, tell us how? On the creation of meaning in interaction design through feedforward and inherent feedback Tom Djajadiningrat, Kees Overbeeke & Stephan Wensveen. • Unremarkable Computing Peter Tolmie, James Pycock...

Heterogeneity of (co)variances for US Jersey linear and final scores was investigated with data from February 2000 USDA genetic evaluations. (Co)variances were estimated from datasets defined by parity, contemporary group size, and mean final score. First-appraisal scores during first or second parity from records that included all traits were studied. Contemporary groups within each parity wer...

I ncreasingly, surgical research articles are citing confidence intervals (CIs) when reporting treatment effects. It is important to understand the theory behind CIs so that present and future surgical literature can be correctly interpreted and clinically useful information gained to help guide treatment decisions. The move toward including CIs is predominantly owing to them providing more inf...

We propose a framework to estimate earnings distributions and worker and firm unobserved heterogeneity on matched panel data. We introduce two models: a static model that allows for interaction effects between workers and firms, and a dynamic model that allows in addition for Markovian dynamics in earnings and mobility decisions. We establish identification in short panels. We develop a tractab...

The Local Scale Model of Shephard (1994) is a state-space model of volatility clustering similar in effect to IGARCH, but with an unobserved volatility that realistically evolves independently of the observed errors, instead of being mechanically determined by them. It has one fewer parameter to estimate than IGARCH, and a closed form likelihood, despite the unobservability of the volatility. A...