Response to Discussion by Muneta Yokomatsu on Kuniyoshi Takeuchi and Shigenobu Tanaka: Recovery from Catastrophe and Building Back Better, JDR Vol.11 No.6, pp. 1190-1201, Dec. 2016

2018 ◽  
Vol 13 (3) ◽  
pp. 571-573
Author(s):  
Kuniyoshi Takeuchi ◽  
Shigenobu Tanaka ◽  
◽  
Keyword(s):  
Acquisition Cost ◽  
Capital Stock ◽  
Total Loss ◽  
Present Value ◽  
Potential Production ◽  
Disaster Loss ◽  
The Future ◽  
Direct Loss ◽  
Definition Of

Mr. Yokomatsu provided valuable comments on the paper JDR Vol.11 No.6, pp. 1190-1201 by Takeuchi and Tanaka. The discusser claims that if “direct loss” is defined as a “loss of assets (capital stock)” and “indirect loss” as a “loss of postdisaster production decline,” then the sum of the two as the “total loss” of a disaster contains a double count of disaster loss, because the “value of assets (capital stock)” for “direct loss” is the present value of an output to be produced in the future by the assets, which is nothing but “indirect loss.” This is a misunderstanding caused by an ambiguous definition of the term “loss of assets.” In order to avoid such misunderstanding, the authors clarify the definition by elaborating the content of “total loss” = “direct loss” + “indirect loss” as the “total loss of assets” = “loss of the physical acquisition cost of assets” + “loss of the potential production profit of assets.”

A Commentary on “Recovery from Catastrophe and Building Back Better (Takeuchi and Tanaka, 2016)” – Structure of Damage of Production Capital Stock on Normative Economic Process

2018 ◽  
Vol 13 (3) ◽  
pp. 564-570 ◽  
Author(s):  
Muneta Yokomatsu ◽  
Keyword(s):  
Capital Stock ◽  
Basic Structure ◽  
Production Facility ◽  
Disaster Loss ◽  
Stock Value ◽  
The Future ◽  
Normative Economic ◽  
Direct Loss ◽  
Dynamic Economic Model ◽  
Restoration Cost

In the field of disaster prevention, disaster loss is often classified into “direct loss” and “indirect loss.” As such, “total loss” is often calculated as a sum of “direct loss” and “indirect loss,” where “direct loss” is defined as a “loss of capital (assets) as a stock” and “indirect loss” is defined as “loss arising out of decline in postdisaster production as a flow.” However, the loss here is calculated twice. The calculation is incorrect if “indirect loss” refers to, in particular, the lost profit of a firm that has lost a production facility that is considered as a stock. The reason is that the “value of capital stock” is nothing but the present value of a product that the stock will produce in the future. Therefore, an “indirect loss” defined in the above manner corresponds to a decrease in stock value. Using a dynamic economic model, this article provides a basic structure, “value of loss in capital stock lost by a disaster” = “total decline of production after a disaster.” This article also presents a relational expression in consideration of the restoration cost of a production facility, and concludes that a more multifaceted and functional damage information system needs to be developed in the future.

scholarly journals Stock Valuation: Dividend Discount Models

2011 ◽  
Author(s):  
Syrgak Kydyraliev ◽  
Anarkül Urdaletova
Keyword(s):  
Stock Price ◽  
Supply And Demand ◽  
Cash Flows ◽  
Securities Market ◽  
Present Value ◽  
Stock Valuation ◽  
Stock Value ◽  
The Future ◽  
Definition Of ◽  
Future Cash Flows

One of the most widespread problems on a securities market is the problem of definition of an estimated stock value. It is necessary to note, that the stock price as well as the price of any good in the market is defined as the result of supply and demand interaction. Our task is to offer the mechanism, which allows making decision on purchase or sale. For this purpose the method of asset estimation by future cash flows will be used – i.e. we believe that the estimated value of an asset is equal to present value of the future cash flows which are provided by the asset. In our paper we will introduce methods for the valuation of stocks with arithmetic and pseudo-arithmetic growth of dividends.

Challenges of Fear Conditioning Research in the Age of RDoC

2017 ◽  
Vol 225 (3) ◽  
pp. 189-199 ◽  
Author(s):  
Tina B. Lonsdorf ◽  
Jan Richter
Keyword(s):  
Fear Conditioning ◽  
Clinical Diagnosis ◽  
Research Domain Criteria ◽  
Major Focus ◽  
The Future ◽  
Definition Of ◽  
Methodological Considerations ◽  
Research Domain

Abstract. As the criticism of the definition of the phenotype (i.e., clinical diagnosis) represents the major focus of the Research Domain Criteria (RDoC) initiative, it is somewhat surprising that discussions have not yet focused more on specific conceptual and procedural considerations of the suggested RDoC constructs, sub-constructs, and associated paradigms. We argue that we need more precise thinking as well as a conceptual and methodological discussion of RDoC domains and constructs, their interrelationships as well as their experimental operationalization and nomenclature. The present work is intended to start such a debate using fear conditioning as an example. Thereby, we aim to provide thought-provoking impulses on the role of fear conditioning in the age of RDoC as well as conceptual and methodological considerations and suggestions to guide RDoC-based fear conditioning research in the future.

The Valuation Relevance of Reversing Deferred Tax Liabilities

2004 ◽  
Vol 79 (2) ◽  
pp. 437-451 ◽  
Author(s):  
David A. Guenther ◽  
Richard C. Sansing
Keyword(s):  
Discount Rate ◽  
Firm Value ◽  
Market Value ◽  
Present Value ◽  
Depreciation Rate ◽  
The Future ◽  
Deferred Tax Liabilities ◽  
Deferred Tax ◽  
Tax Depreciation ◽  
Depreciation Methods

This paper compares two attributes of a deferred tax liability (DTL) that arise from differences in book and tax depreciation methods. The first attribute is the effect of the DTL on the market value of the firm. The second is the length of time between when the asset is placed into service and when the DTL associated with that asset begins to reverse. The paper shows that a decrease in the time it takes for the DTL to begin to reverse is neither necessary nor sufficient for the value of the DTL to increase. It also shows that the value of the DTL is not equal to the present value of the future deferred tax expense. The effect of one dollar of DTL on firm value depends only on the tax depreciation rate and the discount rate.

Neuroethics

2017 ◽  
Keyword(s):  
Brain Function ◽  
Ethical Issues ◽  
Wearable Technologies ◽  
Definition Of Death ◽  
Populations At Risk ◽  
The Future ◽  
Aging Adults ◽  
Definition Of ◽  
The Brain ◽  
New Criteria

We have new answers to how the brain works and tools which can now monitor and manipulate brain function. Rapid advances in neuroscience raise critical questions with which society must grapple. What new balances must be struck between diagnosis and prediction, and invasive and noninvasive interventions? Are new criteria needed for the clinical definition of death in cases where individuals are eligible for organ donation? How will new mobile and wearable technologies affect the future of growing children and aging adults? To what extent is society responsible for protecting populations at risk from environmental neurotoxins? As data from emerging technologies converge and are made available on public databases, what frameworks and policies will maximize benefits while ensuring privacy of health information? And how can people and communities with different values and perspectives be maximally engaged in these important questions? Neuroethics: Anticipating the Future is written by scholars from diverse disciplines—neurology and neuroscience, ethics and law, public health, sociology, and philosophy. With its forward-looking insights and considerations for the future, the book examines the most pressing current ethical issues.

scholarly journals Simulating Land-Use Changes and Predicting Maize Potential Yields in Northeast China for 2050

2021 ◽  
Vol 18 (3) ◽  
pp. 938
Author(s):  
Luoman Pu ◽  
Jiuchun Yang ◽  
Lingxue Yu ◽  
Changsheng Xiong ◽  
Fengqin Yan ◽  
...  
Keyword(s):  
Land Use ◽  
Food Security ◽  
Northeast China ◽  
Land Use Changes ◽  
Sanjiang Plain ◽  
Potential Production ◽  
Potential Yield ◽  
The Sanjiang Plain ◽  
Ecological Zones ◽  
The Future

Crop potential yields in cropland are the essential reflection of the utilization of cropland resources. The changes of the quantity, quality, and spatial distribution of cropland will directly affect the crop potential yields, so it is very crucial to simulate future cropland distribution and predict crop potential yields to ensure the future food security. In the present study, the Cellular Automata (CA)-Markov model was employed to simulate land-use changes in Northeast China during 2015–2050. Then, the Global Agro-ecological Zones (GAEZ) model was used to predict maize potential yields in Northeast China in 2050, and the spatio-temporal changes of maize potential yields during 2015–2050 were explored. The results were the following. (1) The woodland and grassland decreased by 5.13 million ha and 1.74 million ha respectively in Northeast China from 2015 to 2050, which were mainly converted into unused land. Most of the dryland was converted to paddy field and built-up land. (2) In 2050, the total maize potential production and average potential yield in Northeast China were 218.09 million tonnes and 6880.59 kg/ha. Thirteen prefecture-level cities had maize potential production of more than 7 million tonnes, and 11 cities had maize potential yields of more than 8000 kg/ha. (3) During 2015–2050, the total maize potential production and average yield decreased by around 23 million tonnes and 700 kg/ha in Northeast China, respectively. (4) The maize potential production increased in 15 cities located in the plain areas over the 35 years. The potential yields increased in only nine cities, which were mainly located in the Sanjiang Plain and the southeastern regions. The results highlight the importance of coping with the future land-use changes actively, maintaining the balance of farmland occupation and compensation, improving the cropland quality, and ensuring food security in Northeast China.

scholarly journals Solar barycentric dynamics from a new solar-planetary ephemeris

2018 ◽  
Vol 615 ◽  
pp. A153 ◽  
Author(s):  
Rodolfo G. Cionco ◽  
Dmitry A. Pavlov
Keyword(s):  
High Precision ◽  
Orbital Motion ◽  
Giant Planets ◽  
Reference Plane ◽  
The Sun ◽  
The Future ◽  
Dynamical Parameters ◽  
Definition Of ◽  
Invariable Plane ◽  
Planetary Theories

Aims. The barycentric dynamics of the Sun has increasingly been attracting the attention of researchers from several fields, due to the idea that interactions between the Sun’s orbital motion and solar internal functioning could be possible. Existing high-precision ephemerides that have been used for that purpose do not include the effects of trans-Neptunian bodies, which cause a significant offset in the definition of the solar system’s barycentre. In addition, the majority of the dynamical parameters of the solar barycentric orbit are not routinely calculated according to these ephemerides or are not publicly available. Methods. We developed a special version of the IAA RAS lunar–solar–planetary ephemerides, EPM2017H, to cover the whole Holocene and 1 kyr into the future. We studied the basic and derived (e.g., orbital torque) barycentric dynamical quantities of the Sun for that time span. A harmonic analysis (which involves an application of VSOP2013 and TOP2013 planetary theories) was performed on these parameters to obtain a physics-based interpretation of the main periodicities present in the solar barycentric movement. Results. We present a high-precision solar barycentric orbit and derived dynamical parameters (using the solar system’s invariable plane as the reference plane), widely accessible for the whole Holocene and 1 kyr in the future. Several particularities and barycentric phenomena are presented and explained on dynamical bases. A comparison with the Jet Propulsion Laboratory DE431 ephemeris, whose main differences arise from the modelling of trans-Neptunian bodies, shows significant discrepancies in several parameters (i.e., not only limited to angular elements) related to the solar barycentric dynamics. In addition, we identify the main periodicities of the Sun’s barycentric movement and the main giant planets perturbations related to them.

Is Sicily the future of Russia? Private protection and the rise of the Russian Mafia

2001 ◽  
Vol 42 (1) ◽  
pp. 186-220 ◽  
Author(s):  
Federico Varese
Keyword(s):  
Soviet Union ◽  
Power System ◽  
Former Soviet Union ◽  
Soviet Power ◽  
The Caucasus ◽  
The Future ◽  
Private Protection ◽  
Definition Of

It is difficult to discuss a phenomenon when one does not know precisely what it is. This problem is particularly vexing in the case of the Mafia. It has been argued that ‘the need for a definition [of the Mafia] is crucial; not just for any definition with some degree of contingent empirical plausibility, but for a definition with some analytical clout’ (1). The word ‘Mafia’ itself has travelled far to distant lands, such as the former Soviet Union. For instance, according to Arkadii Vaksberg, Russian journalist and author of The Russian Mafia, the Mafia is ‘the entire soviet power-system, all its ideological, political, economical and administrative manifestations’ (2). In an article published in a magazine for British executives dealing with Russia, the label Mafiosi is used to lump together bureaucrats, smugglers from the Caucasus, the CPSU nomenklatura accused of embezzling state funds, the late British businessman Robert Maxwell and many others (3).

Basic models of human-centrist, polyspiral, sustainable development of Ukraine

2021 ◽  
pp. 37-45
Author(s):  
Valery Borzunov
Keyword(s):  
Sustainable Development ◽  
Buffer Zone ◽  
Integrated Approach ◽  
Theory And Practice ◽  
External Control ◽  
Developed Country ◽  
The Future ◽  
The Status ◽  
Scientific Results ◽  
Definition Of

Subject of study. A set of relations that are formed in the process of determining models of sustainable development of Ukraine and the principles of designing the economy of the future. Purpose of the article: research of the main directions of sustainable development of Ukraine and the formation of principles of strategy. Research methodology. Scientific novelty of the work, the theoretical and methodological basis of the research is the system of both general scientific and special methods of scientific knowledge, the fundamental provisions of modern economic theory and practice. The proposed methodology of a system-integrated approach to the formation of basic models of man-centered, multispiral, sustainable development of Ukraine. As integrity in the organic unity of the prevailing prerequisites for the formation of the principles of strategizing. Scientific novelty lies in the definition of models for sustainable development of Ukraine and the principles of designing the economy of the future. Results of the work – the applied use of scientific results of improved approaches for the development and implementation of a strategy for human- centered, polyspiral, sustainable development is proposed. Conclusions. For 30 years of independence, Ukraine has turned from an industrially developed country into a backward and poorest country in Europe with an economy of lagging growth, the status of a «buffer zone» of geopolitical conflict on its territory and external control. To maintain sovereignty, ensure the country's competitiveness in the context of the transition to new technological paradigms and the quality of life of the population, at least at the average level for the EU countries, Ukraine needs to change course, develop and implement the «Strategy of human-centrist, multi-spiral, sustainable development».

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