Measuring the relative productivity of multitasking to sole-tasking in household production: experimental evidence

The standard household production model does not incorporate multitasking, although time-diary data reveal that individuals regularly multitask. We incorporate multitasking into a household production model in which time spent in childcare can be sole-tasked or multitasked with another household production activity and we present the results of an experiment designed to measure the productivity parameters of this model. Because utility and productivity are intertwined and difficult to disentangle in any household production model, we vary the utility pay-offs our experimental participants receive in order to determine how our estimated productivity parameters are affected by a change in the utility parameters. Our estimates of the relative multitasking productivities indicate that, while a minute of sole-tasked time produces more of a single commodity than a minute of multitasked time, total household output increases when two outputs are produced simultaneously, hence confirming the economic motivation for multitasking.     

‘I Was Trapped at Home’: Men's Experiences with Leisure While Giving Care to Partners During a Breast Cancer Experience

Men whose partners are diagnosed with breast cancer experience many changes to daily living, including taking on additional family and household roles and responsibilities, caring for their partner, and often relinquishing leisure activities. Although leisure participation has been found to help individuals cope and to mitigate the negative effect of traumatic life events, men's experience with leisure during their partners’ breast cancer experience has received little attention. The purpose of this study was to explore men's experiences with leisure and the meaning of those experiences during and following their partners’ breast cancer diagnosis and treatment. Semi-structured, face-to-face interviews were conducted with 10 men. The findings illuminate that men's leisure became more home-based, was used to release and regulate emotions, and provided a means to maintain identity. The illness experience also increased men's appreciation of leisure with their partners.     

Public reaction to stock market volatility: evidence from the ATUS

How does the public react to changes in the stock market? We know from the existing body of research that sentiment can predict future stock-market movements. However, do market movements affect sentiment? This article addresses these questions by testing whether market movements precede changes in the emotional well-being of the general public. Using Granger causality analysis, we compare how market movements affect public well-being during periods of increased (2010) and decreased (2012) volatility. The results show that 30-day-lagged returns are associated positively and significantly with the public’s emotional well-being, and that this effect is stronger during periods of increased volatility. The results also show that this effect may persist for up to 120 days.     

Strategic experimentation: Understanding change and performance in new ventures

This research was motivated by an interest in understanding more about the extent to which entrepreneurs initiate changes along various dimensions of strategy, the nature of those changes and their implications for firm performance. Our interest in this topic began with the observation that, within the large body of strategic-change literature, the research effort has focused almost exclusively on large and established firms. Moreover, a fundamental assumption underlying much of this work is that strategic change involves movement from one dominant strategic approach to another. This premise does little to motivate or contribute to the understanding of change and strategy in new ventures, where it is less likely that a dominant approach exists. Thus, we drew upon the literature in managerial cognition to develop the idea of strategic experimentation as the conceptual foundation for studying change and strategy in new ventures. Our basic premise is that in new ventures, changes along dimensions of strategy are reflective of a process of trial and error learning, whereby the entrepreneur seeks to develop an understanding of the competitive situation and determine how to compete within that context. Further, we suggest that some aspects of the firm's strategy are more likely to be the focus of experimentation than others.Building on these premises we developed a series of research hypotheses which propose that the greater the level of perceived environmental hostility, the higher the level of strategic experimentation that will be undertaken. We also propose that experimentation will always be greater along some dimensions of strategy than others, and that the degree of environmental hostility will influence the extent to which there are performance benefits associated with strategic experimentation. Our hypotheses are tested using data from a three-year study of over 400 young businesses. Overall, we find support for our assertions.For entrepreneurs and their advisors, this study has several important implications. First, it suggests that strategic experimentation is a normal part of the process by which entrepreneurs seek to position their businesses. Although the present study does not empirically address the linkage between formal planning and experimentation, the learning and cognition literature upon which the construct of strategic experimentation is based suggests that, no matter how much attention to detail is involved in the preparation of the business plan, the actual formation and development of the business will involve considerable adjustment to and/or deviation from that plan. This is because the process of new business development involves iterative changes in the way the entrepreneur positions his/her firm as he/she develops an understanding about what does and does not work. The results of this study further suggest that some dimensions of the firm's strategy are more likely to change than others. Specifically, it appears that peripheral changes (competitive emphasis and time allocation) are more likely to be the focus of such learning and adaptation efforts than core features (product scope and partnership status). This, in part, is because the former dimensions are easier to change than the latter. Moreover, our results show that ventures in more hostile environments clearly face difficult dilemmas. Although poor performance may stimulate experimentation along various dimensions of strategy, the complexity of learning within a hostile environment suggests that entrepreneurs will have a particularly difficult time determining the type of changes that will make a difference.