In the ensuing decades, the original, largely speculative expectations for discovery and accomplishment have been richly exceeded.
Darpa laid the groundwork for the Internet and still finances high-potential ideas in their early speculative stages in the expectation that a few will be major breakthroughs; Arpa-E tries to do the same in energy.
Each barrel of oil may be traded many times before it's used - "it's a speculative market driven by expectations".
Yet this largely reflects speculative capital inflows lured by the expectation of a currency revaluation.
Its railway planners are not encumbered by competitive line building, speculative bubbles, struggles over territory or unrealistic expectations of profit; factors that shaped Britain and America's haphazard railway network.
There are well-documented examples of speculative agricultural introductions not only failing to meet expectations but also leading to unintended invasions and associated problems, particularly in the case of introduced pasture and legume species [27], [28].
You can work out default expectations by looking at the spreads on speculative bonds and making an assumption about the amount investors will recover from companies that fail to pay up in full.
First, since the reform of the exchange rate system, the continuous appreciation and high expectations for RMB appreciation brought in massive speculative capital inflows, coupled with China's high reliance on foreign trade; this led to the stock market's increased sensitivity to exchange rate fluctuations.
Although speculative, and despite these limitations, we think the current study suggests expectation may have a greater influence on pain outcomes in a clinical population for several reasons.
The snag is that a small revaluation is likely to increase expectations of another future appreciation, attracting yet more speculative capital and swelling foreign reserves further.
They developed a theory of speculative investor behavior and stock-bubble formation that subtly modifies rational expectations "in a beautiful way" and "captures Keynes's argument, makes it rigorous, and pushes it further," he said.
