In defence of generalized Darwinism

Darwin himself suggested the idea of generalizing the core Darwinian principles to cover the evolution of social entities. Also in the nineteenth century, influential social scientists proposed their extension to political society and economic institutions. Nevertheless, misunderstanding and misrepresentation have hindered the realization of the powerful potential in this longstanding idea. Some critics confuse generalization with analogy. Others mistakenly presume that generalizing Darwinism necessarily involves biological reductionism. This essay outlines the types of phenomena to which a generalized Darwinism applies, and upholds that there is no reason to exclude social or economic entities.

Healthcare resource use and costs of privately insured patients who switch,discontinue, or persist on anti-muscarinic therapy for overactive bladder

Objectives:

To compare the healthcare costs of patients with overactive bladder (OAB) who switch vs persist on anti-muscarinic agents (AMs), describe resource use and costs among OAB patients who discontinue AMs, and assess factors associated with persisting vs switching or discontinuing.

Methods:

OAB patients initiating an AM between January 1, 2007 and March 31, 2012 were identified from a claims database of US privately insured beneficiaries (n?≈?16 million) and required to have no AM claims in the 12 months before AM initiation (baseline period). Patients were classified as persisters, switchers, or discontinuers, and assigned a study index date based on their AM use in the 6 months following initiation. Baseline characteristics, resource use, and costs were compared between persisters and the other groups. Resource use and costs in the 1 month before and 6 months after the study index date (for switchers, the date of index AM switching; for persisters, a randomly assigned date to reflect the distribution of the time from AM initiation to switching among switchers) were also compared between persisters and switchers in unadjusted and adjusted analyses. Factors associated with persisting vs switching or discontinuing were assessed.

Results:

After controlling for baseline characteristics and costs, persisters vs switchers had significantly lower all-cause and OAB-related costs in both the month before (all-cause $1222 vs $1759, OAB-related $142 vs $170) and 6 months after the study index date (all-cause $7017 vs $8806, OAB-related $642 vs $797). Factors associated with switching or discontinuing vs persisting included index AM, younger age, and history of UTI.

Conclusion:

A large proportion of OAB patients discontinue or switch AMs shortly after initiation, and switching is associated with higher costs.     

Aiding Decision Making to Reduce the Impacts of Climate Change

Utilizing theory and empirical insights from psychology and behavioural economics, this paper examines individuals’ cognitive and motivational barriers to adopting climate change adaptation and mitigation measures that increase consumer welfare. We explore various strategies that take into account the simplified decision-making processes used by individuals and resulting biases. We make these points by working through two examples: (1) investments in energy efficiency products and new technology and (2) adaptation measures to reduce property damage from future floods and hurricanes. In both cases there is a reluctance to undertake these measures due to high and certain upfront costs, delayed and probabilistic benefits, and behavioural biases related to this asymmetry. The use of choice architecture through framing and the use of default options coupled with short-term incentives and long-term contracts can encourage greater investment in these measures.     

The Entrepreneurial Process: Economic Growth,Men, Women,and Minorities. Edited by Paul D. Reynolds and Sammis B. White. Westport,Connecticut: Quorum Book, 1997.

Small Business Economics -     

Analysts’ recommendations: from which signal does the market take its lead?

The stock market may respond to the difference between an analyst’s recommendation and that analyst’s previous recommendation and/or to the difference between the analyst’s recommendation and the consensus recommendation. We show that for the short-term market response the former is the clearer signal when both are examined simultaneously. We also show that the market’s reaction is strongly influenced by the analyst’s reputation, the divergence of opinion among analysts and the number of analysts following the stock. Previous studies have been hampered by having a low proportion of negative recommendations. We overcome this deficiency by studying the Australian market, in which institutional differences lead to analysts releasing many more negative recommendations.

<Emphasis Type="Italic">Leegin</Emphasis> and the Economics of Resale Price Maintenance

When the U.S. Supreme Court overturned its century-old precedent that treated resale price maintenance (RPM) as a per se violation of the antitrust laws, it signaled approval for the vertical restraint’s widespread use. But the increased use of RPM occurred under a pre-existing rule that permitted RPM as long as no formal agreement over price was reached. This paper documents not only the increased use of RPM post Leegin but also the importance of avoiding the appearance of agreements to control resale prices. The paper then discusses how plaintiffs, previously enamored of claims of RPM, are now recasting vertical RPM arrangements as ancillary to horizontal agreements among distributors that are made effective though enforcement by producers.     

A stakeholder approach to expatriate management: Perceptions of hotel expatriate managers in China

Expatriates are critical to the navigation of an increasingly complex business environment as more hospitality companies operate beyond domestic domains. The present research took a stakeholder approach to examine the expatriate experience. The study posited that cross-cultural issues faced by expatriate managers are contextualized in stakeholder issues and that satisfying multiple stakeholder interests constitutes the ultimate test of expatriate success. In-depth interviews were conducted to examine stakeholder-specific issues and challenges faced by expatriate hotel managers in China. A conceptual framework and related propositions were developed based on an analysis of textual data. The research showed that cross-cultural issues and stakeholder issues are intertwined, but one set of issues can be more salient than the other in a specific manager–stakeholder relationship. Theoretical and managerial implications of the study were also discussed.