Information,persuasion, and control in moral appraisal of advertising strategy

The formulation of moral issues surrounding consumer advertising tends to focus on the capacity to persuade or inform, and how these capabilities may be used to distort or fulfill needs and desires. Discussion of these issues abstracts from widespread advertising and marketing practices, by assuming that all advertising is mass advertising, broadcast indiscriminately over the entire market population. This assumption directs attention away from important issues stemming from actual advertising strategies, which involve campaigns designed for and conveyed to particular customer groups or segments within broader product market. Several cases are outlined to illustrate the class of practices considered to be important and usually ignored, and issues that they raise for moral appraisal are suggested.Taylor R. Durham is Assistant Professor of Communications (Visiting) at Hampshire College, School of Communications and Cognitive Science where he is concerned with information, decision-making, and regulation of advertising. He was previously Post-Doctoral Fellow at the Department of Social Relations, The Johns Hopkins University.     

Conceptual underpinnings for transformative research in a service ecosystems context to resolve social issues – framework foundations and extensions

ABSTRACT

A number of services within society are designed to improve the well-being of its members and transform lives. Some services focus on the protection and support of vulnerable members of society, for example, those suffering the effects of drug use, mental health conditions, violence or poverty. Clients of such social services may also come from minority or marginalised cultural backgrounds. Typically, social services aim to reduce disparities and enhance individual and population well-being. A major challenge for social policy-makers and social service providers is to establish and maintain constructive engagement between the social services and those they are intended to serve. Some of these vulnerable clients are deemed ‘hard-to-reach’ (HTR) by policy-makers and service providers. Yet, the transformation of lives requires the involvement of the focal actor (client) and their service or activity system, as well as the engagement of other actors, such as the social worker embedded in their service or activity system. This paper aims to further unpack a novel approach, called integrative transformative service framework. This contribution extends its conceptualisation which fuses mainly three different approaches, namely Transformative Service Research (TSR), (Cultural-Historical) Activity Theory (CHAT) and (Regulatory) Engagement Theory (RET).     

The growing dependence of Britain on trade during the Industrial Revolution

Many previous studies of the role of trade during the British Industrial Revolution have found little or no role for trade in explaining British living standards or growth rates. We construct a three-region model of the world in which Britain trades with North America and the Rest of the World, and calibrate the model to data from the 1760s and 1850s. We find that while trade had only a small impact on British welfare in the 1760s, it had a very large impact in the 1850s. This contrast is robust to a large range of parameter perturbations. Biased technological change and population growth were key in explaining Britain's growing dependence on trade during the Industrial Revolution.     

Primary vs secondary prophylaxis with pegfilgrastim for the reduction of febrile neutropenia risk in patients receiving chemotherapy for non-Hodgkin’s lymphoma: cost-effectiveness analyses

Objective:

Evaluate the cost-effectiveness of primary vs secondary prophylaxis (PP vs SP) with pegfilgrastim to reduce the risk of febrile neutropenia (FN) in Non-Hodgkin’s Lymphoma (NHL) patients receiving myelosuppressive chemotherapy from a US payer perspective.

Methods:

A Markov model was used to compare PP vs SP with pegfilgrastim in a cohort of patients receiving six cycles of cyclophosphamide, vincristine, doxorubicin, and prednisone (CHOP) or CHOP plus rituximab (CHOP-R) chemotherapy. Model inputs, including efficacy of pegfilgrastim in reducing risk of FN and costs, were estimated from publicly available sources and peer-reviewed publications. Incremental cost-effectiveness was evaluated in terms of net cost per life-year saved (LYS), per quality-adjusted life-year (QALY) gained, and per FN event avoided over a lifetime horizon. Deterministic and probabilistic analyses were performed to assess sensitivity and robustness of results.

Results:

Lifetime costs for PP were $5000 greater than for SP; however, PP was associated with fewer FN events and more LYs and QALYs gained vs SP. Incremental cost-effectiveness ratios (ICERs) for PP vs SP for CHOP were $13,400 per FN event avoided, $29,500 per QALY gained, and $25,800 per LYS. CHOP-R results were similar ($15,000 per FN event avoided, $33,000 per QALY gained, and $28,900 per LYS). Results were most sensitive to baseline FN risk, cost per FN episode, and odds ratio for reduced relative dose intensity due to prior FN event. PP was cost-effective vs SP in 85% of simulations at a $50,000 per QALY threshold.

Limitations:

In the absence of NHL-specific data, estimates for pegfilgrastim efficacy and relative risk reduction of FN were based on available data for neoadjuvant TAC in patients with breast cancer. Baseline risks of FN for CHOP and CHOP-R were assumed to be equivalent.

Conclusions:

PP with pegfilgrastim is cost-effective compared to SP with pegfilgrastim in NHL patients receiving CHOP or CHOP-R.     

The role of “other information” in analysts’ forecasts in understanding stock return volatility

This study identifies “other information” in analysts’ forecasts as a legitimate proxy for future cash flows and examines its incremental role in explaining stock return volatility. We suggest that “other information” contains information about fundamentals beyond that reflected in current financial statements and reflects firms’ fundamentals on a more timely basis than dividends or earnings. Using standardized regressions, we find volatility increases when current “other information” is more uncertain and increases more in response to unfavorable news compared to favorable news. Variance decomposition analysis shows that the variance contribution of “other information” dominates that of expected-return news. The incremental role of “other information” is at least half of the effect of earnings in explaining future volatility. The results are more pronounced for firms with poor information environments. Overall, our results highlight the importance of including “other information” as an additional cash-flow proxy in future studies of stock prices and volatility.     

Speedier delivery: coastal shipping times and speeds during the Age of Sail †

There is a debate about whether coastal shipping experienced substantial productivity growth prior to the advent of steam power. To study changes over the long eighteenth century, this article uses thousands of coastal journey times culled from Board of Trade crew lists between 1835 and 1844 and coastal port books for the mid‐to‐late 1600s, along with a newly digitized coastal network. Comparisons between matched samples show that journey speeds, defined as miles sailed per day, were significantly higher in the crew lists compared to the port books, and that voyage cycle times, defined as days between starting two identical voyages, were substantially lower. The study also shows that voyage times in the east coast coal trade were substantially lower around 1840 than around 1700, but the difference was much smaller when peace years are compared. These new data imply that total factor productivity growth in the east coast coal trade was significant, especially if one accounts for gains from peace after 1815. The findings contribute to the larger literature studying the rate and sources of productivity growth during the industrial revolution.     

From economic theory to leisure practice via empirics: the case of demand and price

Despite the relationship of price and demand being central to economic analysis, doubts have been expressed in leisure studies about the ability of economists to contribute meaningfully to price decisions in leisure, or even to an understanding of price-demand relationships in leisure. This article uses a review of relevant theoretical and empirical considerations and a recent empirical investigation to refute such assertions. It demonstrates how leisure managers might utilize appropriate management information and market research data to improve both their understanding of the price-demand relationship and consequent pricing decisions, with the help of economic analysis.     

A Knowledge-engineering approach to accounting education

In the context of the massive expansion of the knowledge base facing all fields of professional activity, instructional science (which embraces the use of a knowledge-engineering approach to curriculum design) could well help to unvael the complexity of important pedagogical issues confronting accounting educationalists. The delineation and use of an expert knowledge base within the framework of the ‘dimensions of processing model’ of human information processing provides a valuable focus for making decision about the breadth, depth and nature of specific educatinal objectives. Knowledge engineering, which is fundamental to this process, appears to provide an appropriate framework for the systematic planning, development, delivery and evaluation of high-quality education and training programmes. Such an approach base while ensuring practitioners and teachers to keep pace with their rapidly changing knowledge base while ensuring that students acquire and become competent in the use of the cognitive skills they need in order to work effectively in their chosen profession.     

On Licensing Under Bertrand Competition

This paper considers licensing by an innovating firm to its competitor in a differentiated duopoly with Bertrand competition. A principal finding is that royalty licensing may be superior to fee licensing for the innovating firm both when the innovation is drastic and when the innovation is non-drastic.