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We extend the Jones (1971) analysis of the effects of distortions in 2×2 trade models to the case of a two-sector dynamic general equilibrium model of a small open economy with capital accumulation. We do a comparative steady state analysis for the effect of policy changes on factor prices and the capital stock, and examine the dynamics of the system in the neighborhood of the steady state. We also show that the system will have multiple equilibria when value and physical factor intensity rankings of the sectors do not agree.

Purpose – This chapter examines how preferential liberalization between a pair of countries affects the terms of trade and welfare of the liberalizing countries and on the rest of the world (ROW). We adopt a model with symmetric countries that generalizes previous work by relaxing assumptions on functional forms, which allows for the possibility that exports of member countries are complements for exports of the ROW.

Methodology/approach – This chapter uses general equilibrium welfare analysis for a three-country trade model.

Findings – We show that Kemp–Wan tariff adjustments require a decrease (increase) in the external tariff of members in a preferential trade agreement to accompany internal liberalization in the neighborhood of internal free trade when member goods are substitutes (complements) for non-member goods. However, the adjustment path of the external tariff to reductions in the internal tariff could be non-monotonic when preferences are not of the CES type.

Practical implications – Our results are of interest for the design of rules for multilateral trade agreements with respect to preferential liberalization, since they indicate how tariffs must be adjusted to eliminate negative impacts on non-member countries.

We survey several of the theoretical models that have been applied to the analysis of the GATT/WTO dispute settlement process. These include repeated game models, which emphasize the punishment aspect of dispute settlement, and incomplete contracting models, which emphasize the “gap-filling” aspect. Our analysis emphasizes the implications of these models for the strengthening of the dispute settlement process under the WTO and for its application to the TRIPS agreement. We also discuss how models of settlement bargaining can be applied to obtain empirical predictions about which cases will actually proceed to an actual finding by the dispute panel.

Latest Computational Fluid Dynamics (CFDs) tools allow modeling more finely the conjugate thermo-fluidic behavior of a single electronic component mounted on a Printed Wiring Board (PWB). A realistic three-dimensional representation of a large set of electric copper traces of its composite structure is henceforth achievable. The purpose of this study is to confront the predictions of the fully detailed numerical model of an electronic board to a set of experiment results to assess their relevance.

The present study focuses on the case of a Ball Grid Array (BGA) package of 208 solder balls that connect the component electronic chip to the Printed Wiring Board. Its complete geometrical definition has to be coupled with a realistic board layers layout and a fine description of their numerous copper traces to appropriately predict the way the heat is spread throughout that multi-layer composite structure. The numerical model computations were conducted on four CFD software then compare to experiment results. The component thermal metrics for single-chip packages are based on the standard promoted by the Joint Electron Device Engineering Council (JEDEC), named JESD-51. The agreement of the numerical predictions and measurements has been done for free and forced convection.

The present work shows that the numerical model error is lower than 2 per cent for various convective boundary conditions. Moreover, the establishment of realistic numerical models of electronic components permits to properly apprehend multi-physics design issues, such as joule heating effect in copper traces. Moreover, the practical modeling assumptions, such as effective thermal conductivity calculation, used since decades, for characterizing the thermal performances of an electronic component were tested and appeared to be tricky. A new approach based on an effective thermal conductivity matrix is investigated to reduce computation time. The obtained numerical results highlight a good agreement with experimental data.

The study highlights that the board three-dimensional modeling is mandatory to properly match the set of experiment results. The conventional approach based on a single homogenous layer using effective thermal conductivity calculation has to be banned.

The thermal design of complex electronic components is henceforth under increasing control. For instance, the impact of gold wire-bonds can now be investigated. The three-dimensional geometry of sophisticated packages, such as in BGA family, can be imported with all its internal details as well as those of its associated test board to build a realistic numerical model. The establishment of behavioral models such as DELPHI Compact Thermal Models can be performed on a consistent three-dimensional representation with the aim to minimize computation time.

The study highlights that multi-layer copper trace plane discretization could be used to strongly reduce computation time while conserving a high accuracy level.

In this article, the authors develop an arbitrage approach to valuing insurance‐linked securities (ILS) for non‐catastrophic events within a framework of stochastic interest rates. The prices of these transactions are driven by both an interest rate process and a non‐trivial actuarial risk process. The authors find that the duration of ILS is, in most cases, higher than the Macaulay duration of risk‐free bonds, which implies that the alleged relative out‐performance of ILS is illusory.

The fan page of social network site can be used as a platform for the tourist attractions to interact with their consumers. The purpose of this paper is to investigate how entertainment, informativeness, and socializing gratifications affect a user’s attitude toward a tourist attraction fan page in the context of smart tourism, on which scant research has been conducted so far.

The authors investigate how entertainment, information, and socialization gratifications affect a user’s attitude toward a tourist attraction fan page of Hong Kong youth in the context of smart tourism using structural equation modeling.

The authors show that three aspects of gratifications, i.e., entertainment, informativeness, and socializing, have significant impacts on a user’s attitude toward a tourist attraction fan page, which subsequently has an impact on intention to visit the attraction through a user’s attitude toward a tourist attraction developed through his/her attitude toward a fan page.

Scant research has been conducted to study how uses and gratifications affect a user’s attitude toward a tourist attraction fan page in the context of smart tourism. This research fills this research gap.

The management of children′s literature is a search for value and suitability. Effective policies in library and educational work are based firmly on knowledge of materials, and on the bibliographical and critical frame within which the materials appear and might best be selected. Boundaries, like those between quality and popular books, and between children′s and adult materials, present important challenges for selection, and implicit in this process are professional acumen and judgement. Yet also there are attitudes and systems of values, which can powerfully influence selection on grounds of morality and good taste. To guard against undue subjectivity, the knowledge frame should acknowledge the relevance of social and experiential context for all reading materials, how readers think as well as how they read, and what explicit and implicit agendas the authors have. The good professional takes all these factors on board.