The Scope for Increasing Total Hours Worked

Dutch women who work long hours mostly prefer to work shorter hours whereas women who work short hours mostly prefer to work longer hours. This paper shows that the point where preferred and actual working hours are on average equal depends on individual characteristics. This heterogeneity is of interest to policy makers who are aiming to increase the total number of hours worked by women. The tool this paper develops is informative in two ways. First, it shows in what hours range we find individuals of a certain type who want to work longer or shorter hours. Second, it calculates the relative sizes of these groups to examine the scope for policy.     

Convergence of Bayesian learning to general equilibrium in mis-specified models

A central unanswered question in economic theory is that of price formation in disequilibrium. This paper lays the groundwork for a model that has been suggested as an answer to this question in, particularly, Arrow [Toward a theory of price adjustment, in: M. Abramovitz, et al. (Ed.), The Allocation of Economic Resources, Stanford University Press, Stanford, 1959], Fisher [Disequilibrium Foundations of Equilibrium Economics, Cambridge University Press, Cambridge, 1983] and Hahn [Information dynamics and equilibrium, in: F. Hahn (Ed.), The Economics of Missing Markets, Information, and Games, Clarendon Press, Oxford, 1989]. We consider sellers that monopolistically compete in prices but have incomplete information about the structure of the market they face. They each entertain a simple demand conjecture in which sales are perceived to depend on the own price only, and set prices to maximize expected profits. Prior beliefs on the parameters of conjectured demand are updated into posterior beliefs upon each observation of sales at proposed prices, using Bayes’ rule. The rational learning process, thus, constructed drives the price dynamics of the model. Its properties are analysed. Moreover, a sufficient condition is provided, relating objectively possible events and subjective beliefs, under which the price process is globally stable on a conjectural equilibrium for almost all objectively possible developments of history.     

Early Bayesian modeling of a potassium lab-on-a-chip for monitoring of heart failure patients at increased risk of hyperkalaemia

ObjectivesInnovative point-of-care (POC) diagnostics are likely to have a strong impact on health care. The aim of this study is to conduct an early assessment of a point-of-care chip for the detection of a pathological deviation of the potassium levels in patients at increased risk, specifically in patients with heart failure (HF) requiring diuretics and ACE inhibitors that can both interfere with potassium levels, which may lead to serious clinical complications. This study also identifies the key factors that determine the success of the application under study.MethodsA Markov health state transition model was developed representing the disease process. Model parameters were obtained from various literature sources and estimated using interviews and related data. Simulation was carried out for 60 cycles of 1 month each. A discount rate of 3.5% was used, both for costs and utilities. In order to assess uncertainty a probabilistic sensitivity analysis was carried out from which a cost-effectiveness acceptability curve was derived.ResultsFor an anticipated number of 121 measurements per year with a cost of €16.60 per chip, an incremental cost-effectiveness ratio (ICER) of 34,856 €/QALY was found. Sensitivity analysis revealed that the threshold for the costs per chip was €19.30 in order to maintain a positive net monetary benefit. Also, model results are very sensitive to the utility of hyperkalaemia and to the probability to develop severe hyperkalaemia.ConclusionsThe question whether or not a POC chip to measure potassium concentrations in order to avoid a severe potassium imbalance is likely to be cost-effective cannot be definitively answered with the information at our disposal. Further research should focus on heart failure patients at particularly high risk of severe life-threatening hyperkalaemia, for instance in the presence of significant renal dysfunction. It may be expected that the use of the chip in such patient populations may render this point-of-care application very cost-effective.     

Energy intake and productivity of Guatemalan sugarcane cutters: An empirical test of the efficiency wage hypothesis part I

This study represents an empirical test of the productivity consumption relation of the efficiency wage hypothesis, which is briefly discussed here. The research setting and design of the study are described. An energy supplementation program was generally effective in raising the daily energy intake and energy expenditure levels of Guatemalan sugarcane workers who were moderately energy deficient. Increased energy availability did not result in increased energy expenditure at work, or in an increased supply of work units. The results do not provide evidence of a strong productive-energy intake relationship among these workers.     

Reject inference in consumer credit scoring with nonignorable missing data

We generalize an empirical likelihood approach to deal with missing data to a model of consumer credit scoring. An application to recent consumer credit data shows that our procedure yields parameter estimates which are significantly different (both statistically and economically) from the case where customers who were refused credit are ignored. This has obvious implications for commercial banks as it shows that refused customers should not be ignored when developing scorecards for the retail business. We also show that forecasts of defaults derived from the method proposed in this paper improve upon the standard ones when refused customers do not enter the estimation data set.     

Getting post-M&A integration mechanisms tuned in to technological relatedness and innovation synergy realisation

Studies on Mergers and Acquisitions (M&A) typically relate innovation synergies to either context characteristics or post-M&A integration. There is little research on how to tune the relevant practices to the benefit of realising specific innovation synergies. It is the purpose of this paper to develop a conceptual framework on innovation synergy realisation in large M&As, that relates the following components: (1) strategic M&A characteristics; and (2) post-M&A integration mechanisms; to (3) innovation synergy realisation. The research explored how different innovation synergies were achieved in nine large medium-tech and high-tech M&As in the life sciences. From this case studies research, it turns out that higher degrees of technological relatedness allow for the realisation of more types of innovation synergy, brought about by the more demanding integration mechanisms structural linking and process re-design.     

Weight-based pricing in the collection of household waste: the Oostzaan case

This paper provides an empirical analysis of the effects of weight-based pricing in the collection of household waste. Using a comprehensive panel data set on all households in a Dutch municipality we estimate short-run as well as long-run price effects for the amounts of both compostable and non-recyclable household waste. We find significant and sizeable price effects, with the elasticity for compostable waste being four times as large as the elasticity for non-recyclable waste. Long-run elasticities are about 30% larger than short-run elasticities.     

Towards constructive design feedback dialogues: guiding peer and client feedback to stimulate children’s creative thinking

International Journal of Technology and Design Education - Design feedback is an essential pedagogical tool that can help young novice designers navigate divergent and convergent paths while...