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The purpose of this paper is to comment upon the on-going debate about the preferred use of implicit models of valuation vs their explicit counterparts. The last few decades have seen changing complexities in UK leasing structures, and there is a suggestion that the implicit models are incapable of dealing with these complexities. This paper looks to address the issues and concerns with implicit models.

This education briefing is an overview of the pros and cons of both models and collates comments from industry to give an indication of the use of each model.

This paper analyses the appropriateness of implicit models of valuation and the areas in which they prove useful. Although the explicit models prove to be more useful in certain situations, the implicit models are also proved just as useful. The appropriate model needs to be used as appropriate to the property type.

Rather than seeing implicit and explicit models as “rivals”, they should be seen as two sides of the same coin. Both have advantages and disadvantages. The role of the valuer in practice is to choose the correct model for the valuation task in hand.

This is a review of existing models.

This paper aims to investigate modeling implicit attitudes as potential drivers of overall brand attitudes and stated behavior and investigate how the results are expected to be different from brand driver models that are based on explicit attitudes.

Data are collected via online surveys in five countries across 15 categories with sample sizes for each category/country combination in the range of about N = 1,000.

Implicit attitudes result in a higher number of significant effects than their explicit counterparts when used to explain behavioral intentions, brand closeness and brand usage in a multivariate situation with potential 12 brand attitude drivers. The authors also find fewer counter-intuitive effects in the implicit models. The results are consistent across 5 countries and across 15 categories (including CPG products, services and durable goods). They also show that implicit attitudes are less susceptible to response style effects (e.g. social desirability bias).

The findings have implications for brand building and shopper activation. Further research should look into the impact of using implicit data on finding different brand segmentation and brand mapping results.

The findings have implications for brand building and shopper activation.

This paper contributes to the fast-growing field of implicit attitudes. The paper confirms and generalizes previous findings. This is the first paper to the authors’ knowledge that has investigated the impact of implicit attitudes on overall brand attitudes and stated behavior in a multivariate context.

In the last 40 years, the UK valuation profession has relied heavily upon the “hardcore” or “layer” method for valuing reversionary properties (under‐ and/or over‐rented). This approach is not used elsewhere in the world and, prior to the rent freeze of the 1970s in the UK, it wasn't a principal method in the UK. However, valuers today, particularly in London, use this method exclusively despite it producing erroneous answers in certain cases (over‐rented; non‐normal cash flows). This paper seeks to address these issues.

This paper undertakes an indicative pilot study of valuation models used in the valuation of reversionary properties in the downturn of 2008‐2012. The study, whilst small, provided an insight into the techniques chosen by valuers to look at properties where the risk of falling rents, voids and prolonged vacancy is relatively high.

The paper looks at approaches, methods and techniques for property valuation. It identifies that the determination of the UK valuation profession to cling to familiar valuation models, no matter how inappropriate, may lead to mis‐valuations. Alternative, more appropriate, implicit and explicit models are suggested.

It is the opinion of this paper that the UK property market is now so different from the market that prevailed when the layer model was introduced that it no longer has a place in the valuers' armoury of methods to use. This paper looks at a number of case study examples and offers other (more appropriate) options for valuing reversionary interests. In particular, the findings from the study will be useful for valuers to be better able to identify the critical points in the expected cash flow and thus be better able to reflect the appropriate risk in the valuation figure provided.

The purpose of this paper is to compare the performance of implicit and explicit integration schemes for simulating the metal rolling process using commercial software packages ANSYS™ and LS-DYNA™.

For the industrial application of finite element method, the time discretization is one of the most important factors that determine the stability and efficiency of the analysis. An iterative approach, which is unconditionally stable in linear analyses, is the obvious choice for a quasi-static problem such as metal rolling. However, this approach may be challenging in achieving convergence with non-linear material behavior and complicated contact conditions. Therefore, a non-iterative method is usually adopted, in order to achieve computational accuracy through very small time steps. Models using both methods were constructed and compared for computational efficiency.

The results indicate that the explicit method yields higher levels of efficiency compared to the implicit method as model complexity increases. Furthermore, the implicit method displayed instabilities and numerical difficulties in certain load conditions further disfavoring the solver’s performance.

Comparison of the implicit and explicit procedures for time stepping was applied in 3D finite element analysis of the plate rolling process in order to evaluate and quantify the computational efficiency.

The aim of this Education Briefing is to comment upon the construction and role of the capitalisation rate in the valuation of property assets and how the implicit assumptions of growth are market derived and may be considered more robust than the use of growth explicit discounted cash flow (DCF) models where explicit growth assumptions can be questioned.

This Education Briefing will look at the role of analysing initial yields to derive market capitalisation rates, and it will look at component parts of the yield to isolate growth assumptions and compare property returns to the government bond market.

Looking at the Maltese market, the briefing shows that the valuer needs to be aware of the advantages and disadvantages of implicit and explicit valuation models.

The choice of valuation model is dependent upon the availability of suitable comparable information and the appropriateness of the model for the market in question. More transparent markets can benefit from the use of explicit models but where information is less available, such as the Maltese market, implicit models may be considered more robust at estimating market value.

This is an Education Briefing discussing the construction and applicability of implicit valuation models using a market capitalisation rate.

Because of the unrealistic demand of computer resources in terms of memory and CPU times for the direct numerical simulation of practical peen forming processes, a two‐stage combined finite/discrete element and explicit/implicit solution strategy is proposed in this paper. The procedure involves, at the first stage, the identification of the residual stress/strain profile under particular peening conditions by employing the combined finite/discrete approach on a small scale sample problem, and then at the second stage, the application of this profile to the entire workpiece to obtain the final deformation and stress distribution using an implicit static analysis. The motivation behind the simulation strategy and the relevant computational and implementation issues are discussed. The numerical example demonstrates the ability of the proposed scheme to simulate a peen forming process.

Observes that managers of service operations frequently resort to using employees who are available for work only at limited times when labour supplies are tight or when they desire (or require) the scheduling flexibility offered by employees willing to work part‐time. Presents a triply‐implicit integer programming model for the optimal scheduling of shifts and breaks using employees who are each available for work only during an individually specified portion of the operating day. Compares the ease of solving the model, and four others, over two sets of test problems representing a range of conditions existing in service organizations. Concludes that the new model more compactly represents problems, particularly those with high flexibility, facilitating its solution to optimality.

Fibrous porous media have a wide variety of applications in insulation, filtration, acoustics, sensing, and actuation. To design such materials, computational modeling methods are needed to engineer the properties systematically. There is a lack of efficient approaches to build and modify those complex structures in computers. The paper aims to discuss these issues.

In this paper, the authors generalize a previously developed periodic surface (PS) model so that the detailed shapes of fibers in porous media can be modeled. Because of its periodic and implicit nature, the generalized PS model is able to efficiently construct the three-dimensional representative volume element (RVE) of randomly distributed fibers. A physics-based empirical force field method is also developed to model the fiber bending and deformation.

Integrated with computational fluid dynamics (CFD) analysis tools, the proposed approach enables simulation-based design of fibrous porous media.

In the future, the authors will investigate robust approaches to export meshes of PS models directly to CFD simulation tools and develop geometric modeling methods for composite materials that include both fibers and resin.

The proposed geometric modeling method with implicit surfaces to represent fibers is unique in its capability of modeling bent and deformed fibers in a RVE and supporting design parameter-based modification for global configuration change for the purpose of macroscopic transport property analysis.

The paper aims to give an insight into the behaviour of reinforced concrete columns during and after the cooling phase of a fire. The study is based on numerical simulations as these tools are frequently used in structural engineering. As the reliability of numerical analysis largely depends on the validity of the constitutive models, the development of a concrete model suitable for natural fire analysis is addressed in the study.

The paper proposes theoretical considerations supported by numerical examples to discuss the capabilities and limitations of different classes of concrete models and eventually to develop a new concrete model that meets the requirements in case of natural fire analysis. Then, the study performs numerical simulations of concrete columns subjected to natural fire using the new concrete model. A parametric analysis allows for determining the main factors that affect the structural behaviour in cooling.

Failure of concrete columns during and after the cooling phase of a fire is a possible event. The most critical situations with respect to delayed failure arise for short fires and for columns with low slenderness or massive sections. The concrete model used in the simulations is of prime importance and the use of the Eurocode model would lead to unsafe results.

The paper includes implications for the assessment of the fire resistance of concrete elements in a performance‐based environment.

The paper provides original information about the risk of structural collapse during cooling.

Motivation can serve as the engine that turns intention into action, and, as such, is indispensable in the early phase of the entrepreneurial process, where opportunity recognition and exploitation are key. However, research in this area has so far shed a selective spotlight on specific facets of entrepreneurial motivation, whereas the consideration of basic motives has been widely neglected. Hence, the purpose of this paper is to illuminate the basic motivational foundations of one core aspect of entrepreneurial behavior, namely opportunity recognition.

The study examined how motivation influences the process of recognizing and exploiting entrepreneurial opportunities in a sample of 312 managing directors and managing partners of small and medium-sized enterprises. Opportunity recognition and exploitation were assessed by two different measures: one evaluating the objective number of recognized and realized business opportunities, the other assessing the perceived proficiency in identifying and exploiting entrepreneurial opportunities. Implicit and explicit facets of basic motivation were measured using a comprehensive assessment of human needs.

Findings show that entrepreneurs' achievement motive is an important driver in both the identification and exploitation of opportunity. The power motive affects the perceived ability to exploit business opportunities. Interestingly, the explicit affiliation motive showed an inhibitory effect on the perceived ability of opportunity identification, whereas implicit affiliation motive is affecting the number of recognized and realized business opportunities positively.

This research clearly highlights the preeminence of basic motivational factors in explaining individual early-stage entrepreneurial behavior, making them a prime target for training interventions.