Great Basin Kingdom Revisited: Contemporary Perspectives

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A book that readers new to the subject can actually understand, this non-intimidating treatment about very complex subject matter contains cases that are extremely topical and interesting. The emphasis is on ethics, allowing readers to identify the values that influence how cases are decided. Authored by experts in the field, this exciting compilation of today’s hot-button issues will prove an excellent introduction to business and legal issues. The legal environment of business is thoroughly treated in an extremely reader-friendly manner; various topics include: the American legal system, dispute resolution, constitutional principles, cyberlaw, white-collar crime, contracts, sales, product and service liability, the law of property, agency law, labor-management relations, environmental law, securities trading and issuance, antitrust laws, and debtor-creditor relations. An excellent desk reference for the legal departments of any business, this book also provides an interesting read for anyone interested in business and ethics.

Legal Environment of Business Critical Thinking Approach Student 2nd E,pb 1999

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Legal Environment of Business Critical Thinking Approach Student 2nd E,pb 1999
Kubasek
Manufacturer: Prentice Hall
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Binding: Paperback
ASIN: 0139762000

The Legal Environment of Business: A Critical-Thinking Approach/Book and Pocketutor

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The Legal Environment of Business: A Critical-Thinking Approach/Book and Pocketutor
Nancy Kubasek
Manufacturer: Prentice Hall
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Binding: Hardcover

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ASIN: 0132552337

The Legal Environment of Business : A Critical Thinking Approach

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The Legal Environment of Business : A Critical Thinking Approach
Nancy K.; Brennan, Bartley A.; Browne, M. Kubasek
Manufacturer: Prentice Hall
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ASIN: B000V85S9E

Legal Environment of Business a Critical Thinking Approach S/G

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Legal Environment of Business a Critical Thinking Approach S/G
BROWNE
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ASIN: B000OH9VU4

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The Legal Environment Of Business: A Critical Thinking Approach
Nancy K.; Brennan, Bartley A.; Browne, M. Neil Kubasek
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Binding: Paperback
ASIN: B000OIX7NK

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The Legal Environment Of Business: A Critical-thinking Approach
Brennan, Browne , Kubasek
Manufacturer: Prentice Hall College Div
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ASIN: B000OHYREE

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The Legal Environment of Business: A Critical-Thinking Approach/Book and Pocketutor
Nancy K. Kubasek
Manufacturer: Prentice Hall
ProductGroup: Book
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ASIN: B000OIAJG8

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This digital document is an article from The Geographical Review, published by American Geographical Society on April 1, 1995. The length of the article is 608 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Population Growth and Agricultural Change in Africa. (book reviews)
Author: Catherine Elspeth Doenges
Publication: The Geographical Review (Refereed)
Date: April 1, 1995
Publisher: American Geographical Society
Volume: v85 Issue: n2 Page: p242(2)

Article Type: Book Review

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Population Growth and Agricultural Change in Africa.(Brief Article): An article from: The Geographical Journal

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Population Growth and Agricultural Change in Africa.(Brief Article): An article from: The Geographical Journal
Anthony O'Connor
Manufacturer: Royal Geographical Society
ProductGroup: Book
Binding: Digital
ASIN: B00092YRJY
Release Date: 2005-07-28

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This digital document is an article from The Geographical Journal, published by Royal Geographical Society on November 1, 1994. The length of the article is 475 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Population Growth and Agricultural Change in Africa.(Brief Article)
Author: Anthony O'Connor
Publication: The Geographical Journal (Refereed)
Date: November 1, 1994
Publisher: Royal Geographical Society
Volume: v160 Issue: n3 Page: p337(1)

Article Type: Book Review, Brief Article

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Book Description

Mary C. Reiley, William A. Stubblefield, William J. Adams, Dominic M. Di Toro, Peter V. Hodson, Russell J. Erickson, F. James Keating Jr, editors

A SETAC Pellston Workshop was held to determine whether current approaches for establishing and implementing water-quality criteria can be improved and whether development of different types of criteria can be harmonized. This book reflects the discussion and consensus of experts as they identified problems with the current approach, assessed recent advances, and recommended a system of 3 criteria types to incorporate risk assessment. Issues explored include what resources to protect, appropriate assessment and measurement endpoints, and level of protection to provide. This book highlights the state of the science and the areas that need investigation to support the 3-criteria system, and is likely to have a significant impact on how different criteria types are integrated, the research that will be conducted over the next decade, and the implementation of water-quality protection programs.

Book Description

Summarizing market data developments, some inspired by statistical physics, this book explains how to better predict the actual behavior of financial markets with respect to asset allocation, derivative pricing and hedging, and risk control. Risk control and derivative pricing are major concerns to financial institutions. The need for adequate statistical tools to measure and anticipate amplitude of potential moves of financial markets is clearly expressed, in particular for derivative markets. Classical theories, however, are based on assumptions leading to systematic (sometimes dramatic) underestimation of risks.

Customer Reviews:

Five stars for the intended audience, two stars for the likely holder .......2006-10-16

Five stars for the intended audience, two stars for the likely holder (a theoretical approximation of the mathfin reader utility curve) give a three star average. Why? Practical utility skew is the operative third moment.

If you have no idea about what I just wrote, this book is not for you. If you do and it made you smile, keep reading.

In Theory of Financial Risk and Derivative Pricing: From Statistical Physics to Risk Management authors Bouchaud and Potters place an additional veneer on their previous edition titled Theory of Financial Risks: From Statistical Physics to Risk Management, adding the sexy "Derivative Pricing" no doubt in a forgivable attempt to increase sales in this Googlfied world. But this is their failure. While the original edition was a fine, even respectable voice on bridging the knowledge of the intended audience of physicists-turned financial quant, this edition fails on the over covered subject of derivative pricing simply because it is not theoretical, but an empirical and technical review of historical data sets and assumptions and pricing techniques with critiques of the observed differences between theory and empirical results. Needless to say, this fails the smell test in physics, but in finance is as common as Shinola.

Sorry, but critiques of B-S assumptions and better curve fitting is technical, not theoretical. In other words, the theory of why third and fourth moments (skew and kurtosis) become operative and currently present arbitrage opportunities or risk management concerns is not adequately addressed, merely observed, expressed, and called attention to. Moreover, third and fourth moments are approached from a formulaic perspective intended primarily for risk managers and those seeking to make a buck (such as the authors themselves) and have only dangers emphasized. So formulas and expression yes, pure theory no.

Other reviewers have complained about a thematic Gauss-Levy versus Bachelier tone. Ho hum. For the day to day market maker (readers of Baird) such arguments pale in comparison to managing simply the delta of your book. For the physicist, the ghastly collection of noise and spikes that passes for a data set in finance will likely simply better be explained by long periods of madness followed by fleeting moments of clarity than any Procrustean attempt at better curve fitting informed for the empirical work of observing the data signals of a star's decay. Perhaps the only person Bouchaud and Potters's theoretical practical bridge tweaking would have assistance for would be the risk manager of the completely non-correlated short duration portion of the balance sheet of an international bank. Who also happened to be very powerful and have actual accurate real-time data and could implement these ideas. Scale? North of 8 billion before this is useful. Yep, in such a theta world Bachelier's technique rules. But we don't live in such a world yet, although risk managers everywhere delude themselves that they do, often armed with the likes of this book.

Let me hasten to add that Theory is not a bad thing, but its utility best serves the finmath community when it is clearly and explicitly so, without attempting techne and erte. This book is a forgivable beast with two backs, strongly skewed to a good critique of Theory and with fat tails of empiricism, and a bad attempt to be practical. This work therefore, again forgivably, is bound to disappoint practitioners. Joshi is your better bet.

Who is this book not for? Readers and users of Baird, Joshi and Hull and coding front-line quants and risk managers who live in a world of imperfect and delayed data sets will likely find this pointless academic obfuscation. Whom is this book for? I'm a finance guy, not a physicist, and so I read this book in a cyber book group with a theoretical physicist friend. He characterized the book as easy reading for him, but with little new to add that wasn't already known by the reasonably informed physicist turned finquant. His take was that it was a painfully obvious work, curiously passed off as original thinking when in reality it was simply a useful synthesis of common, though specialized knowledge. My take was it was tough sledding to get to obvious conclusions that anyone who has ever run an options book knows through painful experience or wise counsel. Elegantly expressed at a high level for a well-educated readership, but not exactly a holy grail. In other words, the juice wasn't worth the squeeze.

Longs and Shorts of the Theory of Financial Risk.......2006-06-10

The major achievement of the book is concise presentation of the latest discoveries of the authors and their co-authors (Cont, Matacz). The discoveries are so significant that will lead in some 20 years to a Nobel Prize in Economics. They are: non-uniqueness of the option's price; role of kurtosis (the fourth moment of the price distribution) for volatility smile formula; a simple "square-root" formula for the FRC (forward rate curve of interest rate) accompanied by a simple explanation of a market mechanism behind it; deep "psychological" explanation (via Langevin equation) of the exponents 3-5 in the power-type tails of the price distributions; explanation of why VaR is systematically underestimated by Black-Scholes theory. However, all these discoveries require different mathematics and so far the authors are in search for the correct way to present them together coherently. There are several loose ends: many non-Gaussian approximations (which likely came from JPB's early works in physics and still beloved by him) without practical tools to estimate them; in the interesting chapter on random matrixes missing is a "market" explanation of the meaning of the eigenstates which stand behind 10% of "non-random" eigenvalues; absence of a serious discussion about exotic options points out to a difficulty to extend authors' methods toward more general options (while the regular PDE approach taken by other authors, like Wilmott, allows such an extension almost naturally).

Fat tails and more.......2002-06-05

This text has a nice discussion of Levy distributions and (important!) discusses why the central limit theorem does not apply to the tails of a distribution in the limit of many independent random events. An exponential distribution is given as an example how the CLT fails. I was first happy to see a chapter devoted to portfolio selection, but the chapter (like most of the book) is very difficult to follow (I gave up on that chapter, unhappily, because it looked interesting). The notation could have been better (to be quite honest, the notation is horrible), and the arguments (many of which are original) could have been made sharper and clearer. For my taste, too many arguments in the text rely on uncontrolled approximations, with Gaussian results as special limiting cases. The chapters on options are original, introducing their idea of history-dependent strategies (however, to get a strategy other than the delta-hedge does not not require history-dependence, CAPM is an example), but the predictions too often go in the direction of showing how Gaussian returns can be retrieved in some limit (I find this the opposite of convincing!). For an introduction to options, the 1973 Black-Scholes paper is still the best (aside from the wrong claim that CAPM and the delta-hedge yield the same results). The argument in the introduction in favor of 'randomness' as the origin of macroscopic law left me as cold as a cucumber. On page 4 a density is called 'invariant' under change of variable whereas 'scalar' is the correct word (a common error in many texts on relativity). The explanation of Ito calculus is inventive but inadequate (see instead Baxter and Rennie for a correct and readable treatment, one the forms the basis for new research on local volatility). Also, utlility is once mentioned but never criticized. Had the book been more pedagogically written then one could well have used it as an introductory text, given the nice choice of topics discussed.

Reply to the previous reviewer.......2001-07-29

Unfortunately, but not surprisingly, the previous reviewer prefered to remain anonymous. Otherwise, we would happily have argued with him privately. But his review contains so many erroneous and obnoxious statements that we feel we have to reply publicly, at least on the most important points.

a) After spending a full chapter (2) on empirical data and faithful models to describe them, we only price options using...the Brownian motion, says our reviewer (not even the Black-Scholes model, adds he). Well, either the reviewer has only casually browsed through our book, or this is total bad faith and disinformation. After discussing a general option pricing formula, we indeed illustrate it first (4.3.3) with the Black-Scholes model, then with Bachelier's (Brownian) model which, as we explain, is actually a better model for short term options. But the rest of the chapter is entirely devoted to non-Gaussian effects: a theory of the smile, its relation with kurtosis and long-ranged correlation in the volatility, and comparison with actual market smiles (4.3.4), and more importantly, the hedging strategies and residual risk (4.4), alternative hedging strategies for Value-at-Risk control (4.4.6), etc. The emphasis on risk, absent in the Black-Scholes world, is our main message, and partly justifies the title of our book.

b) "There is no statistical physics" in our book, moans the reviewer. Our aim was not to draw phoney analogies, but to present this field in the spirit of statistical physics, with what we feel is an interesting balance between intuition and rigour. (Many physicists feel stranded when reading standard mathematical finance books, where data is scarce, and rigour hides the inadequacies of the models). However, there are several genuine inputs from statistical physics, e.g. data processing, approximations, simple agent based models (2.8-9), functional derivatives to obtain optimal hedges (4.4), saddle point estimates of the Value at Risk for complex portfolios (5.4) and finally, Random Matrices that the reviewer finds unduly complex -- perhaps only because new to him. However, this is contained in "starred" section, indicating that it can be skipped at first reading, as many more advanced sections.

Two more details. We indeed sometimes consider independent random variables, sometimes only uncorrelated, hopefully not confusing the two. If the reviewer spotted incorrect statements, we would be grateful to him if we can correct them in further editions. Second, our book is not meant to provide ready to implement recipes but to present a different way of thinking about finance. Nevertheless, many of the ideas have already been implemented and are used by several (open minded?) financial institutions.

Can do more harm than good.......2001-07-26

This book is a supposedly new approach to financial modeling from the viewpoint of "statistical physics". In fact, it is far from being that. First, there is little or no content really related to statistical physics in it. Apart from the fact that random variables and stochastic processes are also used in physics, the only feature in common between statistical physics and this book is some notational similarities and a lack of rigour which, justified in the case where it is supplemented by physical intuition, leads here to numerous mistakes and sloppy reasoning.

The title, while promising, is quite arrogant: not only there is no "theory of financial risks" in the book but many of the main issues of risk management are not even mentioned: Value at Risk receives less than a page at the end, while hedging of exotic options is not even an issue.

Also, while the first part of the book insists on choosing the correct distribution for price returns, the chapter on options exclusively gives computations for the case of ...Brownian motion (not even exponential Brownian motion)! One is left wondering whether these fancy models presented in the first part were worth mentioning?

Another point is the readership of this book: given the notational complexity of the book and the analogies with physics, only a PhD in theoretical physics can possibly find this book readable. In fact, a finance student will find it too light on the finance side while a math-minded student will find it too sloppy and imprecise.

The surprisingly low level of mathematical rigour - one confuses regularly "uncorrelated" with "independence"- is nevertheless accompanied by an incredibly sophisticated set of tools such as random matrix theory, which are exotic even for professional researchers. Perhaps it would be better to spend more time explaining the concept of stochastic volatility or nonstationarity than rocketing the reader into unknown grounds...

I come to the conclusion that the aim of the book is more to impress the reader about the technical sophistication of the authors than to teach anything in a clear manner.

Although OK as a bedtime reader, this book certainly does not contain anything one can practically implement: in fact the presentation is so imprecise that one is lost in the successive and uncontroled approximations, not knowing at the end what is the algorithm proposed to solve a given problem.

Customer Reviews:

Ending the age of magic.......2006-09-21

That's the job of the magical Traveller, to use his magic to end magic. That underlying paradox provides the premise of this connected set of short stories. He travels the world at intervals, surveying the realm of unreason on each trip, and taking satisfaction in watching it shrink. Where he can, he applies his subtle magic in support of Reason's expanding domain.

Brunner explores Chaos's control and degradation of humankind in several of its ways. The first story tweaks mindless religion. It might even show how one can choose atheism, after encountering a god face to face and finding him unworthy of belief. Another of these gentle stories undermines magical thinking - again, not because it fails, but because its success is not worth having. And so with the faith in luck that makes Las Vegas the holy city of Chance, and so the unwarranted sense of entitlement that demands ever-richer result for ever-poorer effort at earning it, and so for blind pursuit of power irrespective of the cost or of who pays it. Since these stories are built around layers of paradox, Brunner's mechanism is itself a paradox, the smallest of magics to achieve the largest of consequences.

Brunner was one of the best SF writers of the 70s and 80s, author of "Shockwave Rider" and other stories of chilling prescience. Among all of his writings, though, "Traveller in Black" may be his finest and most under-stated, under-rated achievements. These stories have held up well over the thirty years since they were written; since they pass in a distant place and age, there is little in them that can look dated. I recommend these stories to any thinking reader.

//wiredweird

An all-time favorite........2005-10-13

Very sadly long out of print, it's well worth it to track a copy down... An overlooked classic.

The existential classic..........2004-07-15

If you know John Brunner's other work, well, this isn't like that. Traveller in Black is a collection of several mid-length stories that fit together in a progression. The nameless eponymous traveller, an agent of order, goes about imprisoning various chaotic entities and granting certain wishes. This works on several levels to give you allegories for the unexamined life, as well as a gripping adventure yarn.

In some ways, this book is a bookend to Larry Niven's "The Magic Goes Away" (and various sequels, etc.). The flavor and style is similar, although this book is very different. In any event, this is one of those touchstone books of fantasy: you'll see where other writers (including Niven's works cited above!) have "borrowed" some of the dazzling images in Brunner's classic. This gem is a great read and I recommend it highly.

This is the true essence of mysticism.......1998-10-07

The book was extemely intresting in everyway. I think I would recommend it to anyone who wishes to "think" more about the world around them.

Very Enjoyable and Unique.......1998-03-10

An interesting look at a world through the eyes of a character who functions as a Deus ex Machina. I enjoyed it.

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