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3846 items in total found

Working Papers | 1989

Leisure, Health and Stress

Pestonjee D M and Muncherji Nina B

The term 'leisure' derives from the Latin 'licere', meaning "to be permitted", and is defined in the modern dictionary as "freedom from occupation, employment, or engagement". Leisure has meant different things in different cultures. However, no matter how one tries to modify the concept of leisure, 'time' is its essence. Leisure, can no more be divorced from the element of 'time' than it can be completely separated from the function of 'work'. Leisure can be viewed as 'no work behaviour in which people engage during free time. Of all he values that the medical authorities and educators claim for the recreational use of leisure none is mentioned more frequently than its potential for helping attain sound health, if we participate in it sensibly. If we use it well, leisure can help to keep us on an even mental keel. We can get temporary relief from our tensions, anxieties, frustrations, if we can in our leisure, establish a world apart from ourselves and this helps us in dealing with our problems without coming apart at the seams. We generally presume that stress is a causative factor in health related problem. Further, the leisure phenomenon can counter the adverse impact of stress on health. It is for this reason, that we need to look carefully at the 'leisure-health-stress' linkage.

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Working Papers | 1989

Independence of Irrelevant Transfers

Lahiri Somdeb

In this paper, we provide a partial geometric characterization of the Independence of Irrelevant Alternatives (IIA) Axiom, called Independence of Irrelevant Transfers (IIT) as also a characterization of the Nash Bargaining Solution without the IIA Axiom. The characterization has been motivated by the work of Shapley (1969) and Thomson (1981) to a very great extent and contributes to the growing literature on bargaining solutions without the IIA Axiom.

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Working Papers | 1989

Narmada Project: An Opportunity for Redefining Social Relations

Gupta Ramesh

In this paper we show that rationalizability of a bargaining solution by a symmetric metric implies that the bargaining solution is anonymous. We further show that rationalizability of a bargaining solution by a metric implies that the solution satisfies metric respect for unanimity.

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Working Papers | 1989

Rationalization of Bargaining Solutions by Symmetric Metrics and Respect for Unanimity

Lahiri Somdeb

There has been a heated controversy around the Narmada project. Environmentalists have rightly argued for an open and informed debate. The government and the academics supporting it have felt that all the information has been shared. We do not intend to discuss the merits or demerits of various arguments concerning costs/benefits, mobilization of resources, deforestation, catchment area planning etc. Not because these are not important issues but there are some other options concerning the rights of tribals which have not been discussed in the debate so far. We have argued that Narmada can offer an opportunity to redefine the property and social relations provides the oustees are given proper share in the (a) equity of Narmada Development Corporation, (c) ownership of canal lengths, (c) electricity grids, (d) value adding enterprises etc. This share is due to them not just on humanitarian ground but also on efficiency ground. People who conserved the natural resources for so long may maintain the distribution of water and power at lesser cost than the bureaucracy notorious for its inertia. In any case the conflicts among the oustee owners of water and power and the settled plain farmers will settle at lesser cost who should get what, where and how.

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Working Papers | 1989

A Legrangian Heuristic for the Capacitated Plant Location Problem with Side Constraints

Sridharan R

In this paper we present a Lagrangian relaxation approach for solving the capacitated plant location problem with side constraints. The side constraints are upper bound constraints on disjoint subsets of the (0-1) variables. We also provide an application where this procedure can be used to solve a particular vehicle Routing Problem. Computational results are provide for some problems both on the main frame computer as well as the personal computer.

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Working Papers | 1989

Regional Aspects of Industralialization in India

Ravindra H. Dholakia

Removal of regional disparity in the levels of economic development as a national goal is translated into the removal of regional disparity in the levels of industrialization for the industrial policy. With the state as a regional unit this objective appears to be reasonable. Although average disparity in the levels of industrialization among state in India appears to have declined during the quinquanium 1979-84, there are very disturbing regional patterns discernible. These patterns, moreover, coincide with the classification of states based on the political parties ruling the Centre and states. In this context, if the reduction of regional disparity in industrialization without sacrificing the growth of industry is to be taken seriously, immediate attention must be given to the regional aspects of industrialization in India.

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Working Papers | 1989

Narmada Valley Project: A Disaster or An Imparative for Gujarat

Mehta S S and Srivastava Uma Kant

This paper examines the issues raised by Baba Amte (India Express July 9, 1989) on Narmada Project. His contention is that Narmada project requires a complete reconsideration because its costs in terms of human suffering, ecological damage and financial burden are just too high for Gujarat. The paper indicates that the project benefits very large backward area of North Gujarat, Saurashtra, Kutch and Rajasthan. The assessment of benefits and costs, rehabilitation plans and resource mobilization aspects indicates that the project is conceived on sound line. Much depends, however, on the process of implementation. Some of the apprehensions expressed by Baba Amte may still come true if the implementation process is not handled speedily and in the spirit of rehabilitating the oustees in addition to those who stand to gain directly from the project.

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Working Papers | 1989

The Existence and Continuity of Utility Functions: A New Proof

Jayanth R. Varma

It is well known that the existence of a countable order dense subset is necessary and sufficient for a preference order to be representable by a utility function, and that this condition is also sufficient for the utility function to be continuous with respect tot he order topology. While the modern proof of the first part of this result is based on a theorem of Cantor on ordered sets, the proof of continuity is usually based on a theorem of Debreu in real analysis. This paper seeks to eliminate this appeal to real analysis, and show that the proof of continuity requires only the order structure of the reals and does not need any metric or algebraic properties of the reals. We also show that any continuous preference ordering on a separable topological space with an at most countable number of connected components is representable by a continuous utility function thereby relaxing the usual assumption that the space be connected.

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Working Papers | 1989

Where Utility Functions Do Not Exist - A Note on Lexicographic Orders

Jayanth R. Varma

There seems to be some amount of confusion in the finance text books regarding the conditions under which an individual's preferences can be represented by a utility function. Fama and Miller, for example, assert that two axioms (comparability and transitivity) are sufficient to establish the existence of a utility function (when the set of alternatives is Rn). This is totally false: a real valued utility function need not exist even in the single good case (R1). One might hope that a vector valued utility might exist (with lexicographic ordering of the utility vector); but this is not the case. Indeed we cannot salvage the situation even by allowing the utility to be a vector in Rn) (i.e. to have an (countably) infinite number of components); only an uncountable number of real components can do the job. None of these results are new, but they do not seem to be sufficiently well known to researchers in finance. This may be because the original papers are mathematically forbidding or because they are scattered in sources somewhat removed form the mainstream finance literature. If that be so, this note should be of some help; some of our proofs and examples are new and hopefully more elementary (for example we avoid taking recourse to Sierpinski's lemma).

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Working Papers | 1989

Mega Projects Implementation: Issues for Top Management (Experiences from IFFCOs Aonla Fertiliser Project)

P. R. Shukla and Tripathy Arabinda

This paper presents to management issues in implementation of mega projects. In recent years, several large projects are implemented in the country. Considerable wealth of indigenous experience and knowledge is emerging in the country in this area. Attempt is made in this paper to highlight conceptual issues in large project implementation. Spectrally representing tot he implementation practices at one such large project, namely IFFCO's fertiliser project at Aonla, on HBJ pipeline.

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