Homogeneity tests in meta-analysis: a Monte Carlo comparison of statistical power and Type I error

The statistical power and Type I error rate of several homogeneity tests, usually applied in meta-analysis, are compared using Monte Carlo simulation: (1) The chi-square test applied to standardized mean differences, correlation coefficients, and Fisher's r-to-Z transformations, and (2) S&H-75 (and 90 percent) procedure applied to standardized mean differences and correlation coefficients. Chi-square tests adjusted correctly Type I error rates to the nominal significance level while the S&H procedures showed higher rates; consequently, the S&H procedures presented greater statistical power. In all conditions, the statistical power was very low, particularly when the sample had few studies, small sample sizes, and presented short differences between the parametric effect sizes. Finally, the criteria for selecting homogeneity tests are discussed.     

Power in Profit-Maximizing Organizations

I study how profit-maximizing organizations make decisions. Members of organizations tend to have incompatible preferences over decisions, but willingness to pay for decisions plays a very limited role in actual decision making. A sizable empirical literature documents that people who provide critical services, are hard to replace, or deal effectively with external shocks are powerful; they have disproportionate influence over decisions. This can be profit maximizing because the right to shape the firm through its decisions renders the firm more attractive as an employer. Thus, the relative costliness of employees' departures should affect their relative power.     

The taxation of capital returns in overlapping generations models

This paper shows that in the Diamond (1965) overlapping generations economy with production and capital savings, there is a period-by-period balanced fiscal policy supporting a steady state allocation that Pareto-improves upon the laissez-faire competitive equilibrium steady state (whether dynamically inefficient or efficient) without resorting to intergenerational transfers. The policy consists of taxing linearly (or subsidizing, in the dynamically efficient case) the returns to capital, while balancing the budget period by period through a lump-sum transfer (or tax, respectively) in second period. This intervention grants every generation the highest steady state utility attainable through markets (i.e. remunerating factors by their marginal productivities and without transfers) which under laissez-faire is not a competitive equilibrium outcome. A transition from the competitive equilibrium steady state to this other steady state is also Pareto-improving when the former is dynamically inefficient. The result disentangles from redistributive considerations the impact of the taxation of capital returns on steady state welfare, and thus provides a rationale for the taxation of capital returns that is based on efficiency considerations and not on redistributive goals.     

I do not own a car any more: An analysis of possessions’ disposal and changes in consumers’ identities

This research aims to understand the process of cars' disposal, its context, its influences and its impacts on the meanings for consumers and their identities, as well as the new behaviours of these consumers when living without their car(s). We conducted, analysed and interpreted 20 in‐depth interviews with consumers that had previously owned at least one car and had no financial reasons for disposing of their car(s), but had decided to do it, and started to live without them, adopting alternative methods of transportation. Our findings show that these consumers faced a complicated process regarding the disposal of their car(s) but, due to the changes in their circumstances, they re‐signified relevant concepts that were connected to the ownership of a car: Their perception of freedom, comfort, safety and status changed during and after the disposal of their car(s). We also noticed that there were implications in terms of changes in their attitudes and behaviour as both citizens and consumers. As a contribution to the literature, our findings indicate that the re‐signifying of concepts related to possession of the object as well as changes in attitudes and behaviours that consumers undergo in the postdisposal stage, must be included in the model proposed for evaluating consumer behaviour in product disposal.     

Fighting vacation rental tax evasion through warnings to potential evaders

This paper uses differences-in-differences to analyze the effectiveness of messages sent by the Spanish Tax Agency to deter tax evasion by owners of vacation rentals. The results suggest that these messages were effective in the aggregate, as there was an increase both in the declared amount of such income (6–8.5%, depending on the line item under which it is declared) and in the number of filers (29.7–64.2%), and this effectiveness became more marked over time. Notably, there was more response to the intervention from the self-employed. However, in some collectives, the intervention produced the opposite of the intended effect.     

How do financial frictions affect the spending multiplier during a liquidity trap?

We show that credit market imperfections substantially increase the government-spending multiplier when the economy enters a liquidity trap. This finding is explained by the tight association between capital goods and firms? collateral, a relationship that we highlight as the capital-accumulation channel. During a liquidity trap, a government spending expansion reduces the real interest rate, leading to a period of cheap credit. Entrepreneurs use this time to accumulate capital, which persistently improves their balance sheets and reduces their future costs of credit. A public spending expansion can thus encourage private investment, yielding consequently a large spending multiplier. This effect is further reinforced by Fisher?s debt-deflation channel.     

Co-Creation Experiences: Attention and Memorability

This study examines the on-site co-creation experience from a tourist perspective. A review of the literature and in-depth interviews with tourists who participated in a ‘swimming with dolphins’ experience are used to explore the importance of co-creation in enhancing attention and the memorability of the experience. Findings suggest that the co-creation experience influences memorability by focusing the tourist’s attention. This study contributes to the conceptualization of co-creation in the field of tourism by substantiating the usefulness of a psychologically based approach to experience design.