The industrialization of translation

2012 ◽  
Vol 1 ◽  
pp. 143-168 ◽  
Author(s):  
Keiran J. Dunne
Keyword(s):  
Information Asymmetry ◽  
Adverse Selection ◽  
Large Scale ◽  
Quality Uncertainty ◽  
Related Services ◽  
Service Business ◽  
Price Pressure ◽  
Development Of Expertise ◽  
Uncertainty Information

Much has written by scholars on translation as product and as process, but relatively little attention has been paid to translation as a commercial service, business or industry. This article proposes a modest step in this direction by using microeconomics as a window through which to examine the industrialization of translation, focusing on causes, consequences and challenges. It begins by analyzing the outsourcing of translation and translation-related services. It then considers consequences of large-scale outsourcing, including quality uncertainty, information asymmetry, adverse selection, price pressure and perceived commoditization. Finally, the article explores challenges posed by these developments, including signaling and screening, the productivity imperative and the development of expertise. The article concludes with an overview of potential areas of research to be explored in this track in future issues.

scholarly journals Adverse Selection into Competition: Evidence from a Large-scale Field Experiment in Tanzania

2020 ◽  
Author(s):  
Ingvild Almås ◽  
Lars Ivar Oppedal Berge ◽  
Kjetil Bjorvatn ◽  
Vincent Somville ◽  
Bertil Tungodden
Keyword(s):  
Field Experiment ◽  
Adverse Selection ◽  
Large Scale ◽  
Scale Field ◽  
Large Scale Field

Risk analysis in environmental systems

2002 ◽  
Vol 29 (1) ◽  
pp. 1-7 ◽  
Author(s):  
Elhadi Shakshuki ◽  
Kumaraswamy Ponnambalam ◽  
Tassew Wodaj
Keyword(s):  
Risk Analysis ◽  
Linear Systems ◽  
Large Scale ◽  
Probabilistic Models ◽  
Large Scale Systems ◽  
Second Moment ◽  
Environmental Systems ◽  
Inherent Feature ◽  
The Moment ◽  
Uncertainty Information

Uncertainty is an inherent feature of environmental systems, which makes probabilistic models important. Environmental risk assessment is an important but time consuming task. For large-scale systems, use of linear systems with uncertainty information on parameters and inputs is one of the few possible methods to assess risk. To estimate risk, it is necessary to have at least the first two moments of output variables. This paper describes an efficient method developed for second-moment analysis of linear systems with uncertain coefficients. The main objective is to provide the means and the variances of the output and to provide efficient formulation and automation of the moment equations. This method is demonstrated in two real-world applications of environmental modeling.Key words: uncertainty, second-moment methods, risk analysis, reliability, linear systems.

scholarly journals Depreciation Choice and Future Operating Performance

2019 ◽  
Vol 9 (1) ◽  
pp. 89
Author(s):  
Marcus L. Caylor ◽  
Scott Whisenant
Keyword(s):  
Information Asymmetry ◽  
Adverse Selection ◽  
Operating Performance ◽  
Signaling Theory ◽  
Cash Flows ◽  
Future Prospects ◽  
Future Earnings ◽  
Accounting Choices ◽  
Straight Line ◽  
Accelerated Depreciation

In this study we test the argument that information asymmetry and the problems of adverse selection provide incentives for managers to use accounting choices to signal relatively higher future prospects. Specifically, we contend that firms use accelerated depreciation to credibly signal higher future earnings and cash flows, consistent with signaling theory. Compared to straight-line depreciation, accelerated depreciation reduces earnings in the earlier years of asset lives and produces more variability in earnings. Despite these drawbacks, hundreds of firms voluntarily use accelerated depreciation for at least some of their depreciable assets. Our results indicate that the use of accelerated depreciation foreshadows higher future earnings and cash flows for horizons of one, two, and three years ahead.

scholarly journals EQUITY RECYCLING VS FINANCIAL CONSTRAINTS

2014 ◽  
pp. 76-82
Author(s):  
S. I. Lutsenko
Keyword(s):  
Capital Structure ◽  
Information Asymmetry ◽  
Adverse Selection ◽  
Financial Constraints ◽  
Random Effect ◽  
Point Of View ◽  
Financial Policy ◽  
Process Of Change ◽  
Major Factors ◽  
The Given

The influence of major factors on financial policy of the Russian companies is considered. The author researches process of change of an equity (recycling) in the conditions of financial con-straints. The given work tries to give the answer to a question - whether there is a redistribution of an equity in the company. The models considered in work are tested for a subject of a choice of the most adequate, from the point of view, forecasting. For each of models three kinds of specifications are estimated: pooled regression, regression with a random effect and regression with the fixed ef-fect. Task of the presented work is penetration into an essence of financial policy of the Russian companies: whether there is a dividend payout of shareholders in process an equity recycling or the received incomes go on development the companies (reinvesting). Novelty of the presented work consists in consideration an equity recycling as mechanism with which help the Russian companies direct the income of an equity on its shares repurchase and accumulations of profit for the reinvesting. Equity recycling gives the chance to reserve the companies certain level of a debt for the further use as a financing sources. Besides, influence of other sources of financing is considered in the conditions of financial constraints. The Russian companies resolve a problem of adverse selection (a choice of the cheapest sources of financing — profit). The author notices that low information asymmetry allows the companies to choose cheaper sources of financing. The mechanism an equity recycling gives the chance to the companies to regulate the debt level, actively correcting capital structure.

scholarly journals ФОРМУВАННЯ ІННОВАЦІЙНОЇ ІНФРАСТРУКТУРИ НА ЗАСАДАХ ТРАНСКОРДОННОГО ПАРТНЕРСТВА

2019 ◽  
Vol 125 (4) ◽  
pp. 30-37
Author(s):  
Олена Володимирівна Зарічна
Keyword(s):  
Large Scale ◽  
Public Private Partnerships ◽  
Infrastructure Development ◽  
Business Incubators ◽  
Business Climate ◽  
Related Services ◽  
Economic Relations ◽  
Cross Border ◽  
Innovation Infrastructure ◽  
The One

The paper discusses the research findings on building innovation infrastructure in the framework of cross-border partnerships within the European vector of foreign economic relations development. The key strategic areas for creating business incubators and enhancing integration processes in terms of cross-border partnerships are identified. The alternative ways of funding innovative projects and providing support for innovation infrastructure in the context of cross-border collaboration in the form of public-private partnerships are suggested. The paper argues that public-private partnerships in cross-border cooperation involves not the whole spectrum of relations between communities within the territories of neighbouring states but only those that are associated with general use public infrastructure development and related services provision. Evidence is given that, on the one hand, cross-border infrastructure itself acts as an object of investment, and on the other one, is an essential prerequisite of investment attractiveness and economic growth. It is briefly explained that building an innovation infrastructure on the basis of cross-border partnerships will contribute to: improving the business climate and building environment for investments inflow into Ukrainian economic regions; increasing turnover, boosting small and medium entrepreneurship; creating and maintaining cross-border economic and business incubators, clusters, enhancing and further developing of infrastructure. It is specified that the integration of the developed innovation infrastructure with education, research and business brought together provides for building efficient industry innovation chains, implementing the full cycle of competitive scientific and technological product development – from a research idea to a large-scale manufacturing.

scholarly journals Digital Twins-Based Smart Design and Control of Ultra-Precision Machining: A Review

Symmetry ◽  
2021 ◽  
Vol 13 (9) ◽  
pp. 1717
Author(s):  
Lei Wu ◽  
Jiewu Leng ◽  
Bingfeng Ju
Keyword(s):  
Information Asymmetry ◽  
Large Scale ◽  
Planning Process ◽  
Design Stage ◽  
Precision Machining ◽  
Digital Twin ◽  
Module Design ◽  
Digital Twins ◽  
Ultra Precision ◽  
And Control

Ultra-Precision Machining (UPM) is a kind of highly accurate processing technology developed to satisfy the manufacturing requirements of high-end cutting-edge products including nuclear energy producers, very large-scale integrated circuits, lasers, and aircraft. The information asymmetry phenomenon widely exists in the design and control of ultra-precision machining. It may lead to inconsistency between the designed performance and operational performance of the UPM equipment on stiffness, thermal stability, and motion accuracy, which result from its design, manufacturing, and control, and determine the form accuracy and surface roughness of machined parts. The performance of the UPM equipment should be improved continuously. It is still challenging to realize the real-time and self-adaptive control, in which building a high-fidelity and computationally efficient digital twin is a valuable solution. Nevertheless, the incorporation of the digital twin technology into the UPM design and control remains vague and sometimes contradictory. Based on a literature search in the Google Scholar database, the critical issues in the UPM design and control, and how to use the digital twin technologies to promote it, are reviewed. Firstly, the digital twins-based UPM design, including bearings module design, spindle-drive module design, stage system module design, servo module design, and clamping module design, are reviewed. Secondly, the digital twins-based UPM control studies, including voxel modeling, process planning, process monitoring, vibration control, and quality prediction, are reviewed. The key enabling technologies and research directions of digital twins-based design and control are discussed to deal with the information asymmetry phenomenon in UPM.

scholarly journals Tourism developments in Recsk-Parád Basin

2018 ◽  
Vol 6 (1-2) ◽  
pp. 149-155
Author(s):  
Franciska Gubacsi
Keyword(s):  
Large Scale ◽  
Decisive Role ◽  
Small Region ◽  
Field Trips ◽  
Social Aspects ◽  
Service Trade ◽  
Related Services ◽  
Tourist Attractions ◽  
New Development ◽  
Tourist Accommodation

In the last two decades a lot of settlements in Recsk-Parád Basin developed by the tourism and related services. Even so other villages have completely different image. These disparate advance paths caused large-scale distinctions in life of the settlements. In my recent study I examine tourism developments in Recsk-Parád Basin. I would like to show the importance of the topic during tourism analysis of five settlements. I formulated a few preliminary assumptions. The former industrial settlements were not less able to develop their touristic sector. Due to deteoration of mining and heavy industry, the local tourism has been expanded. Recsk-Parád Basin is located at Northern Hungary, Heves County, Pétervására small region. These settlements have been analyzed: Bodony, Parád, Mátraderecske, Recsk, Sirok. In my study I analyzed the interactions between the settlements, coordinated the economic, touristic, and social aspects. Over and above I made practical and complex analytical surveys (interviews, questionnaire examination, calculations, field trips, overview of professional studies) and data analysis work. Tourism developed in Recsk-Parád Basin. In the last decade there are more touristic programs and events. Taking advantages of tourist attractions resulted growths in finances and number of guests. The most visited settlement is Parád, it has the most guest nights in Recsk-Parád Basin and in the small region too. The former industrial settlements have transit tourism and less income from this sector, but the castle in Sirok is very popular and results more positive returns. According to the tourist accommodation possibilities, two lines can be observed. The commercial accommodations dominated in Parád, while the private or rural hospitality has a bigger role in the other villages. Expansion of service-trade sector can strengthen the position of the settlements. There is special spa and resort area here, which needs more partnership cooperation. Common events can develop the possibilities. However these tourist settlements are in good position, but they located in a marginalized region. It plays a decisive role to stabilize their positions, find new development directions and widen their possibilities.

scholarly journals Reciprocity and Unveiling in Two-Sided Reputation Systems: Evidence from an Experiment on Airbnb

2021 ◽  
Author(s):  
Andrey Fradkin ◽  
Elena Grewal ◽  
David Holtz
Keyword(s):  
Treatment Group ◽  
Adverse Selection ◽  
Large Scale ◽  
Causal Effects ◽  
Reputation Systems ◽  
Control Group ◽  
Design Choice ◽  
Scale Experiment

Reputation systems are used by nearly every digital marketplace, but designs vary and the effects of these designs are not well understood. We use a large-scale experiment on Airbnb to study the causal effects of one particular design choice—the timing with which feedback by one user about another is revealed on the platform. Feedback was hidden until both parties submitted a review in the treatment group and was revealed immediately after submission in the control group. The treatment stimulated more reviewing in total. This is due to users’ curiosity about what their counterparty wrote and/or the desire to have feedback visible to other users. We also show that the treatment reduced retaliation and reciprocation in feedback and led to lower ratings as a result. The effects of the policy on feedback did not translate into reduced adverse selection on the platform.

scholarly journals Overconfident Institutions and Their Self-Attribution Bias: Evidence from Earnings Announcements

2020 ◽  
pp. 1-33 ◽  
Author(s):  
Hsin-I Chou ◽  
Mingyi Li ◽  
Xiangkang Yin ◽  
Jing Zhao
Keyword(s):  
Information Asymmetry ◽  
Earnings Announcements ◽  
Earnings Announcement ◽  
Behavioral Bias ◽  
Price Pressure ◽  
Post Earnings Announcement Drift ◽  
Institutional Demand ◽  
Attribution Bias

Abstract Institutional demand for a stock before its earnings announcement is negatively related to subsequent returns. The relation is not attributable to the price pressure of institutional demand and is stronger for stocks with higher information asymmetry and/or greater valuation difficulty. These findings support the notion that overconfident institutions misprice stocks. Following announcements, institutions’ behavior exhibits the outcome-dependent feature of self-attribution bias. Whether they become more overconfident and delay their mispricing correction depends on whether earnings news confirms their preannouncement trades. This behavioral bias also offers a new explanation for the well-known post-earnings-announcement drift.

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