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Working Papers | 1993

Forecasting Money Supply Using Box-Jenkins and other Procedures

Gupta G S

The big provides forecasts on the money supply in India during 1993-01 through 1995-04, using the quarterly data for the period 1970-01 to 1992-04 and several alternative appropriate statistical and econometric methods. Appropriate statistical and econometric methods. Appropriate statistical tests and accuracy measures have been applied to assess the credibility of the alternative methods and within the sample period forecasts. It is found that the forecasts through the Box-Jenkin's method are the most conservative while those from the decomposition method the most liberal ones, those through the regression and exponential smoothing fall in between the two extremes. Arguments have been advanced for their comparative strengths and weaknesses. As per the results, the money supply is expected to be around Rs.5,000 billion in Dec. 1995, and it could vary between Rs.4,764 billion and Rs.5,814 in that period.

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Working Papers | 1993

Project Management: Comparison of Practices in India and U K

Tripathy Arabinda

Resources are committed primarily for two purpose. In one case it is spent on meeting ongoing requirements and in other case for creating new facilities. The first category is classified as operational requirements and the second project. However, the definition of project as an one time endeavour, encompasses many areas other than creation of new facilities. It is possible to associate all types of projects to creation of facilities physical or otherwise and resulting in “benefits” to a set of beneficiaries.

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Working Papers | 1993

On Internalization of Externalities

Anil K. Gupta and Prakash Aseem

Externalities can be internalized through market mechanism, government regulation, or self-governing institutions or a mix of these institutions. We recommend the institutional route which minimizes total cost (sum of technology, management, and transaction costs) to the firm. These costs are influenced by the externality attributes (occurrence, polluter, spatial, time and technology). Different institutions may be appropriate for different stages and social contexts of an externality.

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Working Papers | 1993

Scale, Equity and Efficiency: A Stone May Kill More Than One Bird

Prakash Aseem and Anil K. Gupta

Policy goals of efficiency, equity, and sustainability may not be independent. Also the policy instruments. i.e. price mechanism, fiscal policy, and scale may be related. We need to find answers about who shall decide the scale at the national and international level? If equity and scale are related, the interests of the countries in the resource-intensive growth phase and of the post-industrial societies, my clash.

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Working Papers | 1993

How Managers Kindle Learning Processes

Ramanarayan S and Nair K Unnikrishnan

Organizational learning occurs when the insights and learnings of individual organization members are transferred to the larger organizational system. This paper examines how senior managers create processes which enable this transfer to take place effectively. It presents an empirical study, conducted in seven major sub units of a large, national organization engaged in R&D and project management. The various dimensions of organizational learning are: developing clear focus on objectives and plans for internal integration; being sensitive to people potential and needs; generating concern for long term planning and success; supporting experimentation/creativity; scanning the environment; and generating triggers for change and attending to development of capabilities. The results suggest that organizational processes do bear a significant association to these learning dimensions. Hence, for managers with the vision of building learning organizations, the effective management of organizational processes become crucial for fostering learning. Managers adopting developmental or nurturant-task styles of leadership, proactive methods of conflict management, and having an explicit agenda of change and innovation contribute to organizational learning. Further, the study shows that learning organizations are also high performance organizations. Some of the important themes that emerge from the study are: the necessity for empowerment of organizational members to take up learning challenges; supportive, nurturant, and facilitating approach of managers towards unlearning and relearning; and the significance of team learning.

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Working Papers | 1993

A Note on Expansion Independence in Multiattibute Choice Problems

Lahiri Somdeb

Two appealing independence properties have been used by us to characterize the egalitarian, utilization and relative egalitarian choice functions.

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Working Papers | 1993

Revealed Preference and Utilitarianism in Multiattribute Choice Problems

Lahiri Somdeb

In this paper we have investigated two related issues: (a) representability of a choice function: (b) characterization of a representable choice functions, namely the utilitarian choice function. Probably the most well-known representable choice function is the one due to Nash (1950), which is characterized by properties similar to those which characterize the utilitarian choice function, except that instead of shift invariance we have scale invariance for Nash's solution. Our proof of representability is simpler and easier to comprehend than most other proofs existing in the literature. Our characterization of the utilitarian choice function is both elegant and concise. The meaningfulness of the properties characterizing this solution, should enhance its appeal as a choice function.

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Working Papers | 1993

Creative Approaches in Advertising in India in the Early Nineties - What Criteria

Mokhopadhyay Sipra

The paper developed while exploring the anomaly that the best adjusted creatives are not necessarily the best performers, despite uniformity in other marketing inputs. It examines (1) current trends in creative approaches, how do these fit in with the existing typologies and exhibit a blend resulting from adaptation to local culture, (2) the criteria used for assessing a creative and the missing links. Findings indicate that image, execution and common touch are the most frequently used strategies. While judicious adaptation of creative helps, transplants can only work for a few low involvement product, consumption of which is not influenced by culture. A set of criteria must take into account market competition, state of the buyer, PLC, product and media characteristics. Successful creatives have ensured that the target audience is about to realise 'identity with self' likes the ad and feels involved.

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Working Papers | 1993

Axiomatic Characterization of the Equal Loss Choice Function for Multiattribute Choice Problems

Lahiri Somdeb

In this paper we provide an axiomatic characterization of the equal loss choice function for multiattribute choice problem.

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Working Papers | 1993

Axiomatic Characterization of the Cao Choice Function for Multiattribute Choice Problems

Prakash Aseem

In this paper we provide an axiomatic characterization of a choice function due to Cao (1981) multiattribute choice problems.

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