Inherent uncertainties

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  • The global trading system is undergoing a period of transition. Shifting economic circumstances, major advances in technology and the emergence of new players on the global scene, all underscore that we are on the cusp of big changes. Persistent imbalances, driven largely by macro-economic factors continue to be a cause of concern in some major economies.

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  • The inherent uncertainty in property prices are traditionally characterized by probability distributions (Ratcliff, 1972 and Squirell, 1985). However, the lack of precise information on properties often poses a problem. As mentioned by Bagnoli and Smith (1998), appraisers use a great deal of judgment to identify the characteristics (attributes) of properties that relate to property prices. Additionally, they usually have to consider qualitative characteristics, such as structural quality, architectural attractiveness and location convenience.

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  • This report is the final product of a two-year study by the Committee on Assessing Technological Literacy, a group of experts on diverse subjects under the auspices of the National Academy of Engineering (NAE) and the Board on Testing and Assessment at the Center for Education, part of the National Research Council (NRC). The committee’s charge was to determine the most viable approach or approaches to assessing technological literacy in U.S. K–12 students, K–12 teachers, and out-of-school adults.

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  • Teaching children how to read and write has always been the primary objective of education or schooling. However, in recent years there have been concerns that this major objective has not been achieved, or has not been achieved at a satisfactory level, by many students by the end of the compulsory years of schooling. This has led to a renewed focus on literacy at both Commonwealth and state level, and the introduction of new policies and practices which are aimed at improving literacy outcomes.

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  • Community management of patients with organic brain damage can be difficult. They often do not attend appointments. The community nursing team may be able to offer advice and support to the patient. A community care assessment by the social work department may be needed. If drinking continues to be problematic, sometimes patients will agree to an arrangement with their family or their social worker such that, at any one time, they only have access to small amounts of their money.

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  • Second, information should be thought of as better if it reduces the uncertainty surrounding some future cost or benefit. For instance, future liabilities are inherently uncertain. Information that can narrow the variance on estimates of those uncertain liabilities should be considered better information. Reduced variance is particularly valuable when decision-makers are risk-averse, since a reduction in variance alone can lead to different decisions when there is risk aversion.

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  • Arts-related real estate markets have paradoxical entry barriers and advantages. There are barriers inherent in the uncertainty of demand, zoning issues and the costs of retrofitting old systems. At the same time, entry barriers are lowered because the space demand is flexible and often requires minimal high-end fixtures and adaptations. Art-making, performance, craft production and exhibition spaces attract users who want to adapt and re-create space in flexible ways.

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  • Evidence-based medicine (EBM) has been famously characterized by David Sackett as the “conscientious, explicit, and judicious use of current best evidence in making decisions about individual care.” The central notion in EBM of the importance of integrating individual clinical expertise with the best available external evidence provides a helpful framework for providers navigating the uncertainty inherent in patient care.

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  • Labour productivity growth arises from capital accumulation and from innovation; that is, the creation, dispersion, and use of new and valued products and processes. Innovation results in a change in the composition of the economy. Firms and entrepreneurs are central to driving innovation and hence productivity growth. However, innovation is inherently a risky and uncertain process.

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  • Current research in automatic subjectivity analysis deals with various kinds of subjective statements involving human attitudes and emotions. While all of them are related to subjectivity, these statements usually touch on multiple dimensions such as non-objectivity1 , uncertainty, vagueness, non-objective measurability, imprecision, and ambiguity, which are inherently different. This paper discusses the differences and relations of six dimensions of subjectivity. Conceptual and linguistic characteristics of each dimension will be demonstrated under different contexts. ...

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