To a decisionmaker facing a choice over a set of risky prospects the issue of ‘flexibility’, i.e., the ability to postpone other decisions until after the uncertainty is resolved, is a crucial one. Tisdell (1963) for example, has shown that the well known ‘preference’ of a risk neutral firm for random over constant prices (with the same mean) reduces to indifference when it is assumed that the ...

I review the progress in fundamental spin physics over the past several years and the prospects for the future. The progress is striking and the prospects are excellent.

Corruption has become an issue of major political and economic relevance in recent years. This has led to a resurgence of interest in analyzing the phenomenon and the diverse forms that it assumes in developing politics with an expectation that democratization and economic liberation offer potential routes to dealing with the problem. Anti-corruption strategies range from institutional reforms ...

in the present paper, challenges and prospects of the european railways, along with a proposal for a new strategy policy and specific measures are presented. the declining course of european railways concerning traffic and revenues is first analyzed. conditions to introduce intra - modal competition are surveyed, among them separation of infrastructure from operation as it has been applied in a...

the emerging concept of personalized medicine or precision medicine has recently become more popular both among the health-care providers and patients. the focus of personalized medicine is to target prevention and treatment strategies based on patients’ variability in genotype, environment and lifestyle. since precision medicine will make the clinical guidelines much more conditional and branc...

The recent progress is reviewed and future prospects of silicon photonics in next generation communication and computing systems are probed. Leveraging the many-billion-dollar complementary metal-oxide-semiconductor (CMOS) industry, silicon photonics has promising prospects for realising very large-scale electronic and photonic integrated circuits with thousands of optical components and millio...

abstract malaria is still the number one killer especially among young children and is responsible for one death per minute in the world. overall,between 250-500 million cases of the disease occur worldwide causing more than one million deaths annually about 90% of which in children under five years of age. although the spread of the disease is worldwide but it is seen mostly in tropical and su...

Up or Out: Research Incentives and Career Prospects of Postdocs in Germany Academic careers in Germany have been under debate for a while. We conduct a survey among postdocs in Germany, to analyze the perceptions and attitudes of postdocs regarding their research incentives, their working conditions, and their career prospects. We conceptualize the career prospects of a postdoc in a life-cycle ...