Decomposing Beveridge Curve Dynamics By Correlated Unobserved Components

Our paper provides a consistent framework to study the structural or cyclical nature of Beveridge curve (BC) dynamics: We connect equilibrium unemployment theory to a flexible multivariate unobserved components model. We disentangle permanent and transitory components of all series determining the BC and its position. Cointegration and identification are addressed. The German curve is an ideal illustration as reforms of the institutional setting and the Great Recession were accompanied by a remarkable labour market development. We find an extraordinary increase in trend matching efficiency after the reforms, which testifies to a permanent improvement. Matching efficiency accounts for about half of the BC? inward shift. As tightness also increased, a persistent upward movement masked the inward shift.     

On the nature and magnitude of cost economies in hog production

In this article, we assess the impact of farm size on production cost and evaluate the marginal costs and margins by considering that input prices may change with the scale of production. By using French hog farm data, we estimate a system of equations including a feed price function, input demand functions, and an output supply function based on a technology approximated by a combined generalized Leontief‐Quadratic form. Our results suggest that the marginal costs are over‐estimated when the adjustment of the feed unit prices to a change in farm size is not controlled for. More specifically, the cost economies for large farms (enjoying the highest profits) arise primarily from lower feed prices, with technological scale economies having little impact. In contrast, farms with no hired labor exhibit technological scale economies and reach higher price‐cost margins compared to larger farms.     

Optimal Drug Control under Risk of Drug Resistance – The Case of African Animal Trypanosomosis

We examine two widely used treatment strategies for African animal trypanosomosis in West Africa: preventive drug control ex‐ante trypanosomosis infection and curative drug control ex‐post trypanosomosis infection. We investigate which combination of these alternative strategies is economically optimal for cattle farmers. We apply a dynamic optimisation framework to consider both the negative externality of drug resistance development and human behaviour. We develop a bio‐economic model to simulate the economic consequences of treatment strategies in a dynamic scenario that takes into account the interactions among the vector, host and livestock farmers. This model allows for the evolution of drug‐resistant trypanosomes through trypanocide misuse and simulates the observed behaviours of cattle farmers based on the elicited risk and time preferences of a sample of 202 cattle farmers in Mali and Burkina Faso. The results show that the private optimal mix of treatment strategies for a risk averse and patient farmer involves preventive treatment for susceptible cattle, supported by a small number of curative treatments for infected cattle. Compared with the treatment strategies observed in the field, this optimal mix of treatment strategies would save approximately 5% of the annual income of a livestock farmer in the study area and would reduce the prevalence of trypanosomosis. In addition, we demonstrate that a reduction in a farmer's risk aversion is associated with higher treatment rates that can avoid additional losses. By contrast, a decrease in a farmer's patience is related to lower treatment rates that thwart additional benefits. Our results suggest that individual risk and time preferences need to be considered in the development process of disease control interventions.     

Far from Eye,Far from Heart: Analysis of Graphical Decision Aids in Electronic Negotiation Support

Information is probably the most relevant element upon which decision makers base their judgments. Empirical evidence has demonstrated that the way information is presented inevitably influences human cognition and, consequently, the (electronically supported) decision making process. Presently, we lack an analytical approach of studying graphical decision aids implemented in electronic negotiation support systems (NSS). Therefore, the aim of this paper is to identify relevant factors for graphical decision aids in NSS, which provides negotiators with an analytical support approach. Secondly, based on a developed framework, we intend to categorize and analyze existing and newly developed graphical decision aids. Last, we develop research propositions showing avenues for future investigations in the field of graphical decision aids.     

Gewinn- versus Kundenorientierung: Welche Ziele verfolgen deutsche Versicherungsvermittler?

Insurance intermediaries are criticized for behaving consistent with incentives given by insurers and disregarding customer interests. Fees paid by customers should replace commissions paid by insurers. Both the European Commission and the German Government proposed several measures to encourage fee-based advice as well as to ban commissions for PRIP-products mediated by brokers. Associations of intermediaries argue in opposition to politics that their members are interested in long-lasting customer relationships. This study answers the question which targets (customer orientation or profit orientation) intermediaries follow. Empiric results show that intermediaries follow four strategic targets—fairness, profit orientation, quality of life and sustainability of company. Fairness means customer orientation. Intermediaries can be divided into short-term and long-term oriented entrepreneurs. Disparities in the kind of orientation cannot be explained by kind of intermediary (broker or agent) solitary. The results are interesting for regulators who intend to save long-term interests of customers.     

Hypothermie bei Schlaganfall

Neue Therapieform für die Akutphase — Die M?glichkeiten, Patienten, die einen isch?mischen Schlaganfall erlitten haben, zu behandeln sind begrenzt. Wissenschaftler untersuchen daher, ob das Unterkühlen der Patienten in der Akutphase die überlebensrate verbessern und das Risiko lebenslanger Behinderung reduzieren kann.     

Data-Driven Phase Analysis of E-negotiations: An Exemplary Study of Synchronous and Asynchronous Negotiations

In this empirical study, we present a new method for analyzing coded and categorized data of negotiation protocols. By applying a data-driven identification of negotiation phases we are able to identify endogenous dynamics of negotiation processes and to combine advantages of both, episodic and stage models of phase analysis. We present an exemplary study in which we compare processes of synchronous and asynchronous electronic negotiations. This analysis shows that, while synchronous negotiations follow a phase model similar to sequential stage models as discussed for face-to-face negotiations, asynchronous negotiations show less evidence of such a structure.