Rationing,defective inputs and Bayesian updates under central planning

The enterprise manager anticipates that he will be rationed in his input markets and is required to meet an output target. In order to avoid a penalty for missing the output target, he can purchase the inputs at an earlier time, when rationing is not in effect, but then he must incur an inventory cost. The inputs themselves are defective with a known mean rate but unknown variability; the manager has a prior density over this parameter. He can solve the relevant expected-cost minimisation problem in three ways: (a) by simultaneously determining the optimal amounts to be ordered on the two dates, (b) by dynamic programming, and (c) by dynamic programming combined with Bayesian learning. The paper investigates the properties of the optimal solution under the three scenarios with respect to variations in the defective rate, the level of uncertainty and the relative costs of inventories and of missing the target.     

Inside the mind of the serial murder

This article approaches a position of delving into the thoughts of those who commit murder serially. The information comes from a variety of sources which include research literature, theory examination and most importantly, serial murderers themselves. More than 400 cases of serial fatal violence as well as interviews with incarcerated serial killers were utilized. Important issues such as locus of motives, expected gains, victim selection processes, planning of the event, the murder event itself, and organization and disorganization of the kill are also discussed. While admitting that serial killers have never been rehabilitated, a call is directed toward a better understanding of the mind of the serial murderer.     

Work and growth: A review of research on the impact of work experience on adolescent development

Work has not been extensively studied as a context for adolescent development, even though increased work experience has been widely recommended as a means of improving the transition of adolescents to adulthood. Studies of the impact of work experience on adolescent socialization, defined broadly, suggest that work has beneficial results that persist over time. Developmental theorists and critics of conventional patterns of workplace organization remind us, however, that current knowledge is inadequate to specify optimal types and amounts of work experience for adolescents. Studies of narrower outcomes of work experience — career knowledge and plans, job-related attitudes, behavior, and skills — are less persuasive. An ecological strategy is recommended for future research. Such research should consider the varying effects of different kinds of work experience on different adolescents and should seek those effects in settings other than the workplace and over long periods.Received his Ed.D. from the Harvard Graduate School of Education in 1975. Main interests are the transition of adolescents to adulthood and the development and evaluation of programs to ease that transition.Main interests are the interaction between families and human development, especially the effects of work.