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This paper develops a model that explains how the creation of a futures clearinghouse allows traders to reduce default and economize on margin. We contrast the collateral necessary between bilateral partners with that required when multilateral netting occurs. Optimal margin levels balance the deadweight costs of default against the opportunity costs of holding additional margin. Once created, it may be optimal for the clearinghouse to monitor the financial condition of its members. If undertaken, monitoring will reduce the amount of margin required but need not affect the probability of default. Once created, it becomes optimal for the clearinghouse membership to expel defaulting members. This reduces the probability of default. Our empirical tests suggest that the opportunity cost of margin plays an important role in clearinghouse behavior particularly their determination of margin amounts. The relationship between volatility and margins suggests that participants face an upward-sloping opportunity cost of margin. This appears to dominate the effects that monitoring and expulsion might have on margin setting.

Students with disabilities have many obstacles to overcome and challenges to address as they go through the educational system. Besides challenges with academics, behavior, and social situations, these students also need to be able to transition throughout their educational careers from different grade levels to post-school outcomes. Transition for students with disabilities should include input from classroom teachers, school psychologists and other related school personnel, families, the community, and, of course, the student. Specifically, the student should be an integral part of the transition process and planning. This chapter focuses on transition in general, discusses data from the National Longitudinal Transition Study-2, and sets the stage for the rest of this volume.

In this chapter, we argue that state and trait mindfulness and mindfulness-based practices in the workplace should enhance employee outcomes. First, we review the existing literature on mindfulness, provide a brief history and definition of the construct, and discuss its beneficial effects on physical and psychological health. Second, we delineate a model of the mental and neurobiological processes by which mindfulness and mindfulness-based practices improve self-regulation of thoughts, emotions, and behaviors, linking them to both performance and employee well-being in the workplace. We especially focus on the power of mindfulness, via improved self-regulation, to enhance social relationships in the workplace, make employees more resilient in the face of challenges, and increase task performance. Third, we outline controversies, questions, and challenges that surround the study of mindfulness, paying special attention to the implications of unresolved issues for understanding the effects of mindfulness at work. We conclude with a discussion of the implications of our propositions for organizations and employees and offer some recommendations for future research on mindfulness in the workplace.

This study examined the dual roles of supervisor-directed surface acting (SDSA) and unfairness talk emerging from low overall justice judgments and the impact of these variables on subordinates' job satisfaction and emotional exhaustion.

Working professionals (n = 203) were sampled from online panel services in a time-separated data collection design.

SDSA was found to mediate the relationships of overall justice with emotional exhaustion and job satisfaction. Additionally, unfairness talk reduced the debilitating effect of SDSA on emotional exhaustion, not job satisfaction.

The paper highlights the importance of supervisors understanding the problematic nature of ongoing interactions with subordinates after unjust events occur.

This study helps to better explain why overall justice assessments influence subordinates' job satisfaction and emotional exhaustion. Additionally, the findings show that unfairness talk may not be as detrimental as suggested in recent studies, and it acts as a coping mechanism when contending with high SDSA, especially when emotional exhaustion is considered.

A collection of essays by a social economist seeking to balance economics as a science of means with the values deemed necessary to man′s finding the good life and society enduring as a civilized instrumentality. Looks for authority to great men of the past and to today′s moral philosopher: man is an ethical animal. The 13 essays are: 1. Evolutionary Economics: The End of It All? which challenges the view that Darwinism destroyed belief in a universe of purpose and design; 2. Schmoller′s Political Economy: Its Psychic, Moral and Legal Foundations, which centres on the belief that time‐honoured ethical values prevail in an economy formed by ties of common sentiment, ideas, customs and laws; 3. Adam Smith by Gustav von Schmoller – Schmoller rejects Smith′s natural law and sees him as simply spreading the message of Calvinism; 4. Pierre‐Joseph Proudhon, Socialist – Karl Marx, Communist: A Comparison; 5. Marxism and the Instauration of Man, which raises the question for Marx: is the flowering of the new man in Communist society the ultimate end to the dialectical movement of history?; 6. Ethical Progress and Economic Growth in Western Civilization; 7. Ethical Principles in American Society: An Appraisal; 8. The Ugent Need for a Consensus on Moral Values, which focuses on the real dangers inherent in there being no consensus on moral values; 9. Human Resources and the Good Society – man is not to be treated as an economic resource; man′s moral and material wellbeing is the goal; 10. The Social Economist on the Modern Dilemma: Ethical Dwarfs and Nuclear Giants, which argues that it is imperative to distinguish good from evil and to act accordingly: existentialism, situation ethics and evolutionary ethics savour of nihilism; 11. Ethical Principles: The Economist′s Quandary, which is the difficulty of balancing the claims of disinterested science and of the urge to better the human condition; 12. The Role of Government in the Advancement of Cultural Values, which discusses censorship and the funding of art against the background of the US Helms Amendment; 13. Man at the Crossroads draws earlier themes together; the author makes the case for rejecting determinism and the “operant conditioning” of the Skinner school in favour of the moral progress of autonomous man through adherence to traditional ethical values.

At a time when a greatly expanded volume of research is giving rise to a mounting flood of publications, and scientists are becoming increasingly aware of the difficulty of keeping informed of all the work that may possibly be of interest to them, it is only natural that the literature on the problems and techniques of information work should itself grow rapidly. Not only is there an ever‐growing number of publications of library and documentation organizations, but as more and more scientists are faced with information problems and try to find solutions to them, relevant articles appear in the scientific and technical Press. The same set of conditions causes many people engaged in industry or research, with no training or experience in library or information work, to find themselves made responsible for the organization of information services at various levels, often in localities where there is no more experienced person to whom they can turn for advice. Such people can benefit greatly from the experience of others as recorded in the literature, but they often have difficulty in finding the papers that would be most helpful among the mass of other material, some of it irrelevant to their particular conditions, much of it too advanced or theoretical, quite a lot of it pure polemics, and some just bad. It is to meet the needs of these people that this series of reviews, now in its seventh year, has been designed. It attempts to pick out each year those items likely to be of direct practical help in running a small library or information service, especially for an untrained person. Advanced research work and theoretical discussions, however important, are ignored, as also are descriptions of practice in large libraries, unless they are capable of easy application in smaller organizations. Important bibliographies and works of reference are covered, including some of the more expensive ones which the librarian of a small organization may wish to know about and consult in other libraries, although he would not add them to his own stock. Items are not confined strictly to the publications of a particular year, though most of those chosen will have been received in British libraries during 1958. Those who have followed this series over the years will not fail to have noticed that the number of references included has increased. Even so, selection has become more and more difficult, and the final decisions as to what must be rejected are inevitably personal ones. Some injustice has possibly been done, but it is hoped that all the items included will prove of value to some of those for whom they are intended.

Communications regarding this column should be addressed to Mrs. Cheney, Peabody Library School, Nashville, Tenn. 37203. Mrs. Cheney does not sell the books listed here. They are available through normal trade sources. Mrs. Cheney, being a member of the editorial board of Pierian Press, will not review Pierian Press reference books in this column. Descriptions of Pierian Press reference books will be included elsewhere in this publication.

This research examines the extent overall supervisor injustice reduces self-control resources while simultaneously enhancing anticipatory injustice beliefs. Minimized self-control resources, in turn, are expected to alter the anticipatory supervisor injustice beliefs’ impact on subsequent unjust encounters. Self-control resources therefore act as boundary conditions in the continued receipt of unjust treatment, potentially highlighting Pygmalion effects (self-fulfilling prophecies) connected with subordinates’ overall injustice judgments.

Using a two-survey, time-separated design, we test our hypothesized model in structural equation modeling (SEM) in MPlus with a sample of 163 US-employed adults recruited through online panel services. Main, interactive, and conditional indirect effects were used to examine our proposed relationships.

Empirical results showed that lower self-control resources and higher ASI beliefs resulted from subordinates holding high overall supervisor injustice judgments. Further, ASI beliefs were found to only explain the relationships of overall supervisor injustice with interpersonal injustice encounters, not informational justice encounters. This effect emerged when the subordinate’s self-control resources were low, not high.

This paper integrates fairness heuristics and ego depletion theories to highlight a previously understudied phenomenon–Pygmalion effects (e.g. expectations or anticipations becoming reality) pertaining to subordinates who hold high overall supervisor injustice judgments. The theoretical contribution and results offer a tantalizing lens regarding how anticipation may adversely affect future supervisor-subordinate interactions.