The family and the state: a public choice perspective

The Review of Austrian Economics - The family is an institution within which exchange takes place. The state depends on the productivity of families for its current and future revenues. Yet, work...     

Bargaining one-dimensional social choices

We analyze bargaining over the one-dimension characteristic of a public good among n impatient players when decisions require q favorable votes, q?2. Stationary subgame perfect equilibrium strategies are characterized for all games with deterministic protocol. We provide a monotonicity condition (satisfied by all single-peak, strictly quasi-concave and concave utilities) that assures uniqueness for every q whenever player's utilities are symmetric around the peak. Without symmetry, the monotonicity condition assures uniqueness for qualified majorities, q>n/2, provided that agents are sufficiently patient and utilities satisfy an additional regularity condition. Asymptotic uniqueness is assured for qualified majorities by imposing only the monotonicity condition.     

Autocratic family policy

Families produce people. This presents a problem for autocratic regimes. On the one hand, familial production benefits the autocrat by augmenting the future productivity of the labor force. On the other hand, familial production threatens the autocrat by drawing current resources and loyalty away from the collective. This paper presents a theory of autocratic family policy in which the deciding factor is how much present control over resources an autocrat is willing to forego for future control. I apply this theory to the Soviet Union, arguing that the somersault of Soviet family policies (1917–1944) was a response to this tradeoff under different conditions.

     

Patterns of care and burden of chronic idiopathic thrombocytopenic purpura in Brazil

Aims: Although several therapeutic options are available for chronic immune thrombocytopenic purpura (cITP), little is known about the treatment of cITP in Brazil.

Materials and methods: A multi-center, retrospective chart review, observational study was designed to describe the treatment patterns, clinical burden, resources use, and associated costs for adult patients diagnosed with cITP and treated in public and private institutions in Brazil. Patient charts were screened in reverse chronological order based on their last visit post January 1, 2012. (All costs were calculated using 1.00 USD?=?3.9571 BRL, from February 2016.)

Results: Of 340 patient charts screened, 50 patients were eligible for inclusion in the study. Single-drug therapy (prednisone, dexamethasone, or dapsone) was the most commonly used treatment, followed by combination therapies (azathioprine?+?prednisone, azathioprine?+?prednisone?+?danazol, and prednisone?+?dapsone). Splenectomy was performed in 22% of patients after at least first-line treatment. Platelet count and number of bleeding episodes at diagnosis were 31,561.1/mm³ (SD?=?±26,396.1) and 40 episodes, respectively; in first-line, 92,631.1/mm³ (SD?=?±79,955.3) and 19 episodes, respectively; in second-line, 96,950.0/mm³ (SD?=?±76,476.4) and 17 episodes, respectively. Private system patients had a higher median cost compared to public system patients (USD 17.49/month, range?=?0–2,020.77 vs USD 9.51/month, range?=?0–192.64, respectively).

Limitations: This study does not allow conclusions for causal explanations due to the cohort study design, and treatment patterns represent only the practices of physicians who have agreed to participate in the study.

Conclusions: The data indicate that available therapeutic strategies for second- and third-line therapies appear to be limited.     

Students' patronage and views on the operations and services of food vendors

Abstract Vendors of meals and snacks, granted the realities of the present changing economic and social lifestyles, will continue to feed large numbers of people despite the insanitary conditions under which most of them operate. This study sought to find out the degree of patronage of food sold by vendors, items purchased, reasons for patronizing, views and opinions on the services patronized. Two-hundred and forty-five students resident in five halls at the University of Ghana completed a self-administered questionnaire each. Eighty-six per cent purchased cooked meals and snacks regularly from vendors. Over two-thirds consumed their meals at the selling sites. However, the services and facilities offered by vendors were judged as inadequate and poor. Nineteen per cent reported having suffered diarrhoea, stomach aches, indigestion and other gastrointestinal problems as a result of eating vendored foods. Three outstanding reasons emerged for the high patronage of vendored foods. They are food always being available (69%); food being cheaper (62%); and more variety to choose from (42%). These findings portray the great influence of money and time on consumer choice of food in our present harsh economic environment. Patrons indicated several unhealthy practices by vendors that pose health threats to patrons. These observations together with several recommendations made regarding the safe handling of food, water and the environment indicate consumers' awareness of the need for safe delivery of the food they consume. There is the urgent need therefore to organize and train vendors, pass a food law, supervise operations of vendors and also educate consumers to choose only safe food and water and insist on a clean food environment.     

The monetary origins of asymmetric information in international equity markets

Existing studies using low-frequency data have found that macroeconomic shocks contribute little to international stock market covariation. However, these papers have not accounted for the presence of asymmetric information where sophisticated investors generate private information about the fundamentals that drive returns in many countries. In this paper, we use a new microstructure data set to better identify the effects of private and public information shocks about U.S. interest rates and equity returns. High-frequency private and public information shocks help forecast domestic money and equity returns over daily and weekly intervals. In addition, these shocks are components of factors that are priced in a model of the cross-section of international returns. Linking private information to U.S. macroeconomic factors is useful for many domestic and international asset-pricing tests.