Human Rights,Transnational Corporations and Embedded Liberalism: What Chance Consensus?

I assessed change in students’ moral reasoning following five 75-min classes on business ethics and two assignments utilizing a novel pedagogical approach designed to foster ethical reasoning skills. To minimize threats to validity present in previous studies, an untreated control group design with pre- and post-training measures was used. Training (n = 114) and control (n = 76) groups comprised freshmen business majors who completed the Defining Issues Test before and after the training. Results showed that, controlling for pre-training levels of moral reasoning, students in the training group demonstrated higher levels of post-training principled moral judgment than students in the control group.     

The rules of abstraction

Friedrich Hayek’s work on spontaneous order suggests that the emergence of a spontaneous order requires the existence of abstract rules of conduct. But how much abstraction is required? Abstraction exists on a gradient, from the highest specificity (pertaining to particular persons and narrowly defined circumstances) to the highest generality (pertaining to all persons in all circumstances). If rules create order by coordinating expectations, either end of the spectrum is undesirable; the most specific and the most abstract rules fail to provide decision makers with useful guidance. This article argues that rules that foster coordination must be characterized by an intermediate degree of abstraction. This conclusion will be explained and applied to law, language, and etiquette in order to draw out the similar character of rules across various contexts. The article concludes by discussing four properties that rules of intermediate abstraction must also possess to foster spontaneous order.     

Return Behavior in Emerging Stock Markets

This article investigates the behavior of stock returns in thetwenty stock markets represented in the International FinanceCorporation's Emerging Markets Data Base. The aim is to testfor return anomalies and predictability. Using statistical methodologiesthat have identified seasonal and size-based return differences,as well as general return predictability in industrial markets,we find that these emerging markets display few of the sameanomalies. In particular, we find limited evidence of turn-of-the-tax-yeareffects and small-firm effects. We do find, however, evidenceof return predictability.     

Intermarket shopping behavior and the small community: Problems and prospects of a widespread phenomenon

The purpose of this study is to explain intermarket shopping behavior in small communities where everyone, to some degree, is an outshopper. Results of the study suggest that outshopping in small communities is primarily a function of the satisfaction (or dissatisfaction) with local retail facilities.     

Longevity and Genetic Improvement Issues in Replacing Dairy Cows

The objective of this research is to identify optimal economic replacement strategies for dairy cows within the framework of genetic improvement and to compare these strategies with those followed by Alberta dairy farmers. Production records from four commercial dairy herds are used to model the optimum replacement policy within a wealth-maximizing objective, allowing comparison of predicted results with observed practice in the industry. Unplanned replacement, due to biologial failure of cows, is included in the model as a finite Markov process. The economically optimal replacement time is found to occur at the end of the sixth lactation, with only minor penalties for suboptimality. Planned replacement after the sixth lactation requires culling approximately one quarter of the herd annually, and results in an average herd age of 5.77 years. Since the band of economically reasonable replacement policies extends from the third to the tenth lactation, the average herd age ranges from 4.48 years and 7.02 years. The observed average age of Alberta milking herds of 4. 78 years lies in the lower part of this predicted range. While one can conclude that the model leads to an optimum that is consistent with the observed behavior of Alberta dairy farmers, one must temper this conclusion with the caution that additional research, especially regarding the technical lactation curve, is indicated L'objet de la présente recherche était de dégager des stratégies de remplacement economiquement opti-males pour les vaches laitières, compte tenu des exigences de l'amelioration génétique, et de comparer ces stratégies avec celles qu'utilisent les producteurs laitiers de I 'Alberta. On a utilisé les relevés de production de quatre exploitations laitières commercials pour modéliser les stratégies de remplacement optimales dans un objectif de maximisation des revenus. Le modèle permet également de comparer les résultats prédits avec ceux observés sur le terrain. Les remplacements non prévus, à cause de défauts biologiques des vaches, étaient inclus dans le modèle comme processus de Markov fini. L'époque de remplacement économiquement optimale s'est révélée être le fin de la sixième lactation, avec seulement de légères pertes de rentabilité pour les situations suboptimales. Le remplacement planifié après la sixième lactation exigeait la mise à la réforme d'environ un quart du troupeau chaque année et donnait pour le troupeau un age moyen de 5,77 ans. Comme l'écart des possibilités de remplacement économiquement plausibles va de la troisième à la dixieme lactation, l'âge moyen des troupeaux se situe entre 4,48 et 7,02 ans. L'âge moyen réel des troupeaux laitiers de l'Alberta (4,78 ans) se situe dans le bas de eel écart de prédiction. Tout en reconnaissant que le modèle conduit à un optimum cohérent avec le comportentent réel des producteurs laitiers de l'Alberta, il reste qu'on a besoin de plus de recherche dans ce domaine, en particulier en ce qui concerne la courbe de lactation technique     

Institutional Adjustment,Instrumental Efficiency,and Reasonable Value

Abstract:

In this paper, we apply Celso Furtado’s vision of the process of economic development to the United States’ economy. Furtado was a creator of Latin American structuralism and continues to be one of the region’s most influential economists. Yet, he is little known in the English literature. As we argue, there are few academics who offer a theoretical framework capable of robustly evaluating the current trajectory of U.S. economic development with the depth of Furtado. Through his analytical lens, and with some help from John Maynard Keynes, we examine the present reality, as well as the more remote economic history of the US. We argue that, seen through Furtado’s lens, the US can now be accurately described as an under-developing economy.     

Quantifying the defensive medicine contribution to primary care costs

Background:

Defensive medicine represents one cause of economic losses in healthcare. Studies that measured its cost have produced conflicting results.

Objective:

To directly measure the proportion of primary care costs attributable to defensive medicine.

Research design and methods:

Six-week prospective study of primary care physicians from four outpatient practices. On 3 distinct days, participants were asked to rate each order placed the day before on the extent to which it represented defensive medicine, using a 5-point scale from 0 (not at all defensive) to 4 (entirely defensive).

Main outcome measures:

This study calculated the order defensiveness score for each order (the defensiveness/4) and the physician defensive score (the mean of all orders defensiveness scores). Each order was assigned a weighted cost by multiplying the total cost of that order (based on Medicare reimbursement rates) by the order defensiveness score. The proportion of total cost attributable to defensive medicine was calculated by dividing the weighted cost of defensive orders by the total cost of all orders.

Results:

Of 50 eligible physicians, 23 agreed to participate; 21 returned the surveys and rated 1234 individual orders on 347 patients. Physicians wrote an average of 3.6?±?1.0 orders/visit with an associated total cost of $72.60?±?18.5 per order. Across physicians, the median physician defensive score was 0.018 (IQR?=?[0.008, 0.049]) and the proportion of costs attributable to defensive medicine was 3.1% (IQR?=?[0.5%, 7.2%]). Physicians with defensive scores above vs below the median had a similar number of orders and total costs per visit. Physicians were more likely to place defensive orders if trained in community hospitals vs academic centers (OR?=?4.29; 95% CI?=?1.55–11.86; p?=?0.01).

Conclusions:

This study describes a new method to directly quantify the cost of defensive medicine. Defensive medicine appears to have minimal impact on primary care costs.     

Gender Differences Among Managers and Nonmanagers: An Analysis of Assessment Data

Abstract This study examined gender differences among both middle- and lower-level managers, and among nonmanagers, in terms of abilities, social skills, values, needs, managerial aptitude, temperament, personality, and interests. Many significant gender differences were found, but these differences decreased as managerial level increased. The differences between male managers and female managers in general were more pronounced in temperament, personality, needs, and interests than in managerial aptitude, ability, and values. Greater differences were found between male and female nonmanagers than between male and female managers. Résumé La présente étude examine les différences entre les hommes et les femmes chez les cadres moyens et inférieurs et chez les non-cadres, du point de vue des caractéristiques suivantes: capacités, sociabilité, valeurs, besoins, aptitude à la gestion, tempérament, personnalité et intéréts. II ressort d'importantes différences entre les hommes et les femmes mais elles s'at-ténuent plus on gravit les échelons de la direction. En général, les différences entre les cadres hommes et les cadres femmes sont plus prononcées pour ce qui est du tempérament, de la personnalité, des besoins et des intérěts que pour l'aptitude à la gestion, les capacités et les valeurs. Par ailleurs, on note des différences plus marquées entre les hommes et les femmes non-cadres qu'entre les hommes et les femmes cadres.