On the Production of Cognitive Achievement and Gaps in Test Scores

Accumulation of cognitive achievement is investigated using an indirect production function, a dynamic econometric model and a rich data set. Gaps between scores of black and white children remain constant, narrow, or disappear entirely as children grow older, depending upon the measure and the family structure. Income elasticities are higher for children of black families, and there are differences in elasticities with respect to parents' educational levels. The effects of fathers' and mothers' educational levels differ. Between children of two‐parent families and mother‐only families, there is a gap that is at least as important as the racial gap.     

Consumer acceptance,valuation of and attitudes towards genetically modified food: Review and implications for food policy

An increasing set of evidence has been reported on how consumers could potentially react to the introduction of genetically modified food. Studies typically contain some empirical evidence and some theoretical explanations of the data, however, to date limited effort has been posed on systematically reviewing the existing evidence and its implications for policy. This paper contributes to the literature by bringing together the published evidence on the behavioural frameworks and evidence on the process leading to the public acceptance of genetically modified (GM) food and organisms (GMOs). In doing so, we employ a set of clearly defined search tools and a limited number of comprehensive key words. The study attempts to gather an understanding of the published findings on the determinants of the valuation of GM food – both in terms of willingness to accept and the willing-to-pay a premium for non-GM food, trust with information sources on the safety and public health and ultimate attitudes underpinning such evidence. Furthermore, in the light of such evidence, we formulate some policy strategies to deal with public uncertainly regarding to GMOs and, especially GM food.     

Comparing results of ranking conjoint analyses,best–worst scaling and discrete choice experiments in a nonhypothetical context

This study assesses the comparability of discrete choice experiment (DCE), ranking conjoint analysis (RCA) and multiprofile best–worst scaling (BWS) in a nonhypothetical context in terms of estimated partworths, willingness to pay (WTP), response consistency and external validity. Overall, the results suggest that: (i) the conjoint analysis formats that were used in this study provide similar estimated WTP, but different estimated partworths and computed external validity; (ii) the inclusion of the full ranking information in the estimation of the parameters of interest affects the estimated partworths, but not the estimated WTP; and (iii) it is more appropriate to use multiprofile BWS over DCE and RCA because it has better predictive power of consumers’ preferences and provides estimated WTP comparable to those obtained in the others conjoint analysis formats. The BWS’ cognitive process could be considered clearness for participants implying significant increment of its predictive power.     

Performance measurement of pension strategies: a case study of Danish life cycle products

The Danish pension markets of life cycle products have expanded considerably since its introduction in the beginning of the millennium. The market is maturing and pensioners have the choice between a wide area of different products. It is therefore about time that financial insurance technology is developed to guide the performance measurement of available products. In this paper we develop a simple first version of such a method and we investigate life cycle products recommended on the web of the four biggest commercial Danish pension companies on one day in February 2007. All considered products are outperformed by trivial benchmark products with constant stock proportion over time. Our approach is the following: for each life cycle product we first find a trivial benchmark product with the same long-term risk and then we compare the long-term return of the two equivalent products. We primarily consider value at risk and tail value at risk as risk measures, but we also include a study where the fair value of an interest guarantee is used as risk measure. We consider both long-term mean returns and long-term median returns. We hope that our new method will be regarded as a first step towards a scientifically based ranking of the quality of pension products.     

Attitudes Towards Genetically Modified Food with a Specific Consumer Benefit in Food Allergic Consumers and Non‐food Allergic Consumers

The aim of the reported study was to investigate attitudes towards genetically modified food with a specific consumer benefit. Fifty food allergic and one hundred non‐allergic consumers took part in a telephone interview study in each of Austria, Spain and the Netherlands. Participants were first asked about their purchase intentions for an unspecified genetically modified food. Next, participants were asked about their purchase intentions for a genetically modified food with a specific consumer benefit. Food allergic consumers were asked about ‘low‐allergen food’ produced using genetic modification and non‐allergic consumers were asked about ‘food that benefits your health’ produced using genetic modification. It was found that intention to purchase genetically modified food with these specific benefits was higher than intention to purchase an unspecified genetically modified food.     

Identification-commitment inventory (ICI model): confirmatory factor analysis and construct validity

The aim of this study is to confirm the factorial structure of the Identification-Commitment Inventory (ICI) developed within the frame of the Human System Audit (HSA) (Quijano et al. in Revist Psicol Soc Apl 10(2):27–61, 2000; Pap Psicól Revist Col Of Psicó 29:92–106, 2008). Commitment and identification are understood by the HSA at an individual level as part of the quality of human processes and resources in an organization; and therefore as antecedents of important organizational outcomes, such as personnel turnover intentions, organizational citizenship behavior, etc. (Meyer et al. in J Org Behav 27:665–683, 2006). The theoretical integrative model which underlies ICI Quijano et al. (2000) was tested in a sample (N = 625) of workers in a Spanish public hospital. Confirmatory factor analysis through structural equation modeling was performed. Elliptical least square solution was chosen as estimator procedure on account of non-normal distribution of the variables. The results confirm the goodness of fit of an integrative model, which underlies the relation between Commitment and Identification, although each one is operatively different.     

Bonus-Malus Scales in Segmented Tariffs With Stochastic Migration Between Segments

This article proposes a computer‐intensive methodology to build bonus‐malus scales in automobile insurance. The claim frequency model is taken from Pinquet, Guillén, and Bolancé (2001) . It accounts for overdispersion, heteroskedasticity, and dependence among repeated observations. Explanatory variables are taken into account in the determination of the relativities, yielding an integrated automobile ratemaking scheme. In that respect, it complements the study of Taylor (1997) .     

Two-dimensional Hazard Estimation for Longevity Analysis

We investigate developments in Danish mortality based on data from 1974–1998 working in a two-dimensional model with chronological time and age as the two dimensions. The analyses are done with non-parametric kernel hazard estimation techniques. The only assumption is that the mortality surface is smooth. Cross-validation is applied for optimal bandwidth selection to ensure the proper amount of smoothing to help distinguishing between random and systematic variation in data. A bootstrap technique is used for construction of pointwise confidence bounds. We study the mortality profiles by slicing up the two-dimensional mortality surface. Furthermore we look at aggregated synthetic population metrics as ‘population life expectancy’ and ‘population survival probability’. For Danish women these metrics indicate decreasing mortality with respect to chronological time. The metrics can not directly be used for prediction purposes. However, we suggest that life insurance companies use the estimation technique and the cross-validation for bandwidth selection when analyzing their portfolio mortality. The non-parametric approach may give valuable information prior to developing more sophisticated prediction models for analysis of economic implications arising from mortality changes.     

The Oil Spill Process: The Effect of Coast Guard Monitoring on Oil Spills

In this paper we evaluate the effectiveness of Coast Guard enforcement efforts in reducing oil spills. We consider how vessel owners behavior changes with increases in the probability of being monitored. We also study the effectiveness of the performance standards adopted by the Coast Guard in 1984. We conclude that: (i) Coast Guard enforcement effort works to decrease both the frequency of oil spills and the spill size, even though in this latter case the effect is smaller; (ii) the expected fine has no effect on either the frequency or size of oil spills; (iii) few spills from non-monitored transfers are detected; and (iv) the implementation of the new performance standards increases the effectiveness of the Coast Guard monitoring efforts.     

The moderating role of entrepreneurship education on the antecedents of entrepreneurial intention

A considerable agreement exists about the importance of promoting entrepreneurship to stimulate economic development. In particular, recent research has paid considerable attention to the role of entrepreneurship education in explaining entrepreneurship intentions; also, numerous studies have found empirical evidence for subjective norms affecting the attitude toward entrepreneurial behavior and the perceived control over that behavior. However, cognitive models have not yet considered the moderating role of entrepreneurship education on these relationships. Drawing on the theory of planned behavior, we analyze how the interaction between entrepreneurship education and subjective norms shapes the perceptions and attitudes toward entrepreneurship. To this end, structural equation modeling is applied to data from a sample of 338 final-year undergraduates using multi sample analysis. Results show that entrepreneurship education has a significant moderating role, mitigating the relationship between subjective norms and perceived behavioral control, and strengthening the relationship between subjective norms and entrepreneurial attitudes. Results also have relevant implications for women’s entrepreneurship.