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This chapter deals with the patterns of International Financial Reporting Standards’ accounting policy choices that have been analyzed by several authors in a country-specific context. Instead of a country-specific context, this chapter adopts a sector-specific approach in terms of the airline industry in a regional and global context in order to observe the patterns of cosmetic and non-cosmetic policy options. Cosmetic policy options are related to the presentation of financial information which is not expected to impact the comparability of financial information versus non-cosmetic policy options are considered to be policy options that are related to measurement and, therefore, if there is more than one allowable accounting treatment, the comparability of financial information weakens. In the context of the airline industry, this chapter considers the patterns of policy choices related to IAS 1 Presentation of Financial Statements, IAS 2 Inventory, IAS 7 Statement of Cash Flows, IAS 16 Property, Plant and Equipment, IAS 38 Intangible Assets, and IAS 40 Investment Property, within the framework of frequently observed policy options as well as taking depreciation methods and expected useful life into consideration in terms of industry-specific policy options in order to observe whether there is uniformity rather than diversity in the airline industry for presentation and measurement.

During the 1990s, the New York City Police Department (NYPD) instituted a policy of arresting and detaining people for minor offenses that occur in public as part of their quality‐of‐life (QOL) policing initiative. The purpose of this paper is to examine the pros and cons of the current policy and compare it with possible alternatives including: arrest and issuing of a desk appearance ticket (DAT); issuing of a non‐criminal citation (violation); street warnings; and toleration of public marijuana smoking.

The paper reviews several studies of QOL policing and examines the pros and cons of the current NYPD policy, compared to possible alternatives.

The number of NYPD arrests for marijuana in public view (MPV) (with most detained for one or two days) increased from 3,000 in 1994 to over 50,000 in 2000, and have been about 30,000 in the mid‐2000s. Most of these arrestees (84 percent) were minority; Blacks were 2.7 more likely and Hispanics 1.8 times more likely to be detained than Whites for an MPV arrest. Minorities received more severe dispositions, even controlling for demographics and prior arrest histories.

The paper recommends that the NYPD change to routinely issuing DATs to reduce detention for marijuana violators. Drug policy reformers might wish to further pursue changing statutes regarding smoking MPV into a violation (non‐criminal) or encourage the wider use of street warnings, as in Britain. Any of these policy changes would help reduce the number detained and the disproportionate burden on minorities associated with the current arrest and detention policy. These policies could help maintain civic norms against smoking marijuana in public.

The purpose of this paper is to investigate impacts of policy instruments for market penetration of renewable technologies in South Africa. Based on the current debates about renewable energy policies and the comparative advantage of the country in terms of coal resources the author set up a framework focusing on renewable energy price subsidies, carbon tax and renewable energy portfolio standard.

Using a simulation model through a linear programming approach the paper assesses impacts of those policies on fossil fuel and renewable energy sectors via business‐as‐usual and policy option scenarios. The business‐as‐usual assumes that there are not policy instruments mobilized to promote adoption and diffusion of clean technologies instead of a policy scenario where such policies are included.

The results of the analysis show that when the coal‐based resources are integrated in the simulation process, only carbon tax and renewable energy price‐based subsidies promote a transition towards a sustainable energy production, therefore reduce the associated environmental damage.

Moreover, the paper also shows that in the case of carbon tax and renewable price subsidies, emission prices should be adequately scrutinized in order to guarantee a positive economic surplus.

Security and safety have remained important concerns for mankind since ancient times. In the context of railways, however, the threat perceptions to safety and security have increased significantly lately. In view of this, the Indian Railways requires an effective and efficient security management system. The purpose of this paper is to propose an integrated approach to help develop the Indian railway security system (IRSS) by successively reducing the complexity of the system through a series of studies.

The relevant elements of the complex system of Indian Railways have been identified. The framework in which the elements exist and interact with each other has been clearly established using the interpretive structural modelling (ISM) technique. The output of ISM is further reduced in complexity by having different policy option profiles. A comparison of different option profiles has been done by a multi-criteria decision-making technique, the analytic hierarchy process (AHP), by choosing suitable criteria for comparison.

The following elements need to be pursued as the key objectives for making IRSS: protection of passengers, protection of property, modernisation, manpower enhancement, multi-skilling of staff, latest technology and enhanced legal powers.

The present research can be extended in many important ways. Interpretive structural models for different contextual relationships can be developed and used for formulating and implementing customised security policy. Policy elements and the ISM structure obtained in this research can be utilised for the system dynamic modelling of IRSS. A pilot study can be done to implement the recommendations made in this study.

The ISM model developed can be implemented as a policy tool in enhancing the railway’s security. Some of the policy elements proposed appear to be consistent with the strategic direction being undertaken in the railway security in the country.

Security is an important concern for mankind and social civilisations. The results have significant welfare implications in India and the rest of the world.

The present study is one of the first approaches in a series of studies in railway security in India. The results of this study can be extended to other security scenarios with similar needs.

Due to rapid product obsolescence, there is a significant decline in the market prices, which causes that the sale season is often divided into two periods. This paper aims to consider a class of two-period supply contracts that offer the retailer the ordering flexibility in response to the market changes. This paper analyzes the two-period ordering and coordination problem with option contracts.

The authors incorporate call, put and bidirectional option contracts into the two-period ordering model. By applying stochastic dynamic programming, the authors derive the retailer’s optimal ordering policies for two periods. By benchmarking the case without option contracts, they highlight the advantage of option contracts. Through the mutual comparisons, the authors also explore the impacts of different option contracts. On this basis, the authors explore the conditions on which two-period supply contracts containing options can coordinate the supply chain.

This study shows that the retailer is always better off with option contracts. In addition, the effectiveness of different option contracts depends on the option contract parameters. When the parameters are the same for different option contracts, bidirectional option contracts are superior to call and put ones; otherwise, bidirectional option contracts might be superior or inferior to call and put ones. If designed properly, two-period supply contracts containing options can coordinate the two-period supply chain.

This paper is the first to highlight the value of option contracts as well as explore the role of different option contracts on the two-period procurement problem. The insights derived from our analysis can provide a good way on how to help the retailer work more efficiently in a two-period setting.

Climate change impacts and scientific evidence are now irresistible based on time scales, consequences and perspectives. Civil society leaders and business people are now agreed on emission reduction targets to mitigate the effects of climate change but the question remains: how to make sure that durable, lasting, and real mitigation options are taking place? The purpose of this paper is to ask, does climate change mitigation option (via carbon tax) exert a greater improvement within the tradeoff between climate change and economic values?

This study tries to lessen the gap between mitigation options and economic development activities using computable general equilibrium techniques focusing on alteration of carbon tax instruments.

The findings indicate that much strong carbon tax policy compensates GDP compositions, places economic burden, shrinks enterprise savings and investment.

This paper describes the most favorable policy option and may find use in formulation of climate change mitigation options and policy concerns for prioritizing needs.

The purpose of this paper is to develop a model that determines whether how much effort of preventive maintenance action is worthwhile for the consumer over the post-sale product life cycle of a repairable complex product where the product is under warranty and subject to stochastic multimode failure process, that is, damaging failure and light failure with different probabilities.

The expected life cycle cost is designed for a warranted product from the consumer perspective. The product failure is quantified with failure rate function, which is the number of failures incurred over the product life cycle. The authors consider the failure rate function reduction method in their model where the scale parameter of a failure rate function is maximized by applying the optimal preventive maintenance level. The scale parameter of any failure distribution refers to the meantime to failure (MTTF). The first-order condition is applied with respect to the maintenance level in order to achieve the convexity of the nonlinear function of the expected life cycle cost function.

The authors have found analytically the close form of the preventive maintenance level, which can be used to find the optimal reduced form of the failure rate function of the product and the minimum product expected life cycle cost under the given condition of multimode stochastic failure process. The authors have suggested different maintenance policies to consumers in order to implement the proposed preventive maintenance model under different conditions. A numerical example further illustrated the analytical model by considering the Weibull distribution.

The consumer may use this study in the accurate modeling of the life cycle cost of a product that is under warranty and fails with a multimode failure process. Also, the suggested preventive maintenance approach of this study helps the consumer in making appropriate maintenance decisions such as to minimize the expected life cycle cost of a product.

This study proposes an accurate estimation of a life cycle cost for a product that is under the support of warranty and fails with multimode. Furthermore, for such a kind of product, which is under warranty and fails with multimode, this study suggests a new preventive maintenance approach that assures the minimum expected life cycle cost.

Dynamic changes in the world bring challenges for making long-term future-oriented policy and strategy. A number of recent developments like drops in oil prices, increasing global conflicts, mass immigration and economic stagnation have had disruptive effects on long-term policies and strategies. The purpose of this paper is to provide a dynamic and adaptive Foresight approach as required by the fast-changing global landscape.

The scenario approach presented in the paper aims to develop multiple time horizons by bringing together short-term forecasts and long-term exploratory and visionary scenarios. Each time horizon allows for re-considering and dynamically changing drivers and assumptions of scenarios and thus builds not a single linear, but multiple and dynamic pathways into the future. Following the presentation on the background and description of the methodology, the paper illustrates the proposed approach with a case study on science and technology (S&T) development in Russia.

The flexible scenario approach allows developing and strategies with similar adaptability and flexibility.

The scenario approach presented in the paper may be applicable for Foresight exercises at all levels of governance, including national, international, regional and corporate.

A novel scenario approach is presented for the formulation of S&T policy with an illustrative case study.