Estimating the extent of deceitful behaviour using crosswise elicitation models

Eliciting deceitful behaviour is a daunting task. Respondents oftentimes conceal wrongdoings and refrain from truthfully responding to sensitive questions. In this work, we employ advancements in randomized response techniques to overcome the neglect of respondents to truthfully reveal deceitful behaviour. Our results report that the studied crosswise elicitation model reveals high levels of deceitful behaviour (around 60% admitted deceit by respondents). If respondents can be convincingly assured of their anonymity, the crosswise models (CMs) outperform several variants of elicitation techniques such as direct questioning and item-sum. We also emphasize the use of CMs to generalize findings from laborious experiments to larger populations.     

Neglected Risk in Financial Innovation: Evidence from Structured Product Counterparty Exposure

We investigate the compensation of counterparty exposure in the prices of structured products. Our analysis reveals that product issuers did not compensate retail investors for counterparty exposure before the Lehman default. Post-Lehman, retail prices have no longer neglected this risk. We also measure retail investor attention towards issuer credit risk. For a given level of issuer credit risk, counterparty exposure is compensated more when attention is higher. Furthermore, issuers tend to construct products with larger counterparty exposure. Overall, our results shed light on the conditions under which financial engineering generates neglected risk.     

An empirical assessment of food security on First Nations in Canada

Using data generated from surveys conducted on First Nations throughout Canada, we use regression analysis to examine factors influencing food insecurity. To our knowledge, this is the first time a regression-based analysis has been conducted to examine food insecurity on First Nations in Canada. As expected, income is inversely related to the likelihood that one reports their household as experiencing food insecurity. In addition, individuals in extremely remote areas are more likely to report their household as experiencing food insecurity. Although traditional food consumption is prevalent, we do not find evidence that it is associated with reductions in the prevalence of self-reported household food insecurity. We find that gender and mental health are associated with perceived household food insecurity. Although this study is novel, for reasons and limitations detailed in the paper, it should be viewed as an initial effort to establish potential relationships that underscore one of the most important issues facing Canada: the high prevalence of food insecurity in First Nations communities.     

Agglomeration externalities and productivity growth: US cities, 1880–1930

We investigate the role of industrial structure in labour productivity growth in manufacturing in US cities during the ‘second industrial revolution’. We find that initially greater specialization was associated with faster subsequent productivity growth but that only the very high levels of diversity which obtained in some very large cities had a positive correlation. We interpret our results as demonstrating the existence of dynamic Marshallian externalities. The impact of industrial specialization in our sample of US cities after 1890 is found to have raised the level of labour productivity in manufacturing by about 4 per cent by 1920.     

Managerial challenges of outbound open innovation: a study of a spinout initiative in AstraZeneca

While the research on open innovation is flourishing, less attention has so far been given to ‘outbound’ processes in comparison to ‘inbound’ and ‘coupled’ open innovation. In this paper we analyze a qualitative case study of the global bio‐pharmaceutical company AstraZeneca and their attempt to establish a spinout initiative where internal projects are transferred to entrepreneurial startups funded by external venture capital. We explain the enactment work of this initiative and identify three emerged managerial challenges, linked to (1) internal decision‐making, (2) the cultural and psychological barriers of what we phrase as the ‘not‐invented‐elsewhere’ (NIE) syndrome, and (3) the ability to translate and communicate internal projects as attractive external proposals. Theoretical and managerial implications in relation to these challenges are outlined and discussed.     

Medieval representative assemblies: collective action and antecedents of limited government

Medieval monarchs in Western Europe responded to financial and military pressures by instituting representative assemblies. Three estates (classes; orders) were represented in these assemblies: clergy, nobility, and burghers. In the late medieval and early modern periods, some states tended towards absolutism (e.g., France); others towards constitutional monarchy (e.g., England). The German historian Otto Hintze conjectured that two-chamber assemblies were more likely to resist monarchical encroachments on their political authority than three-chamber assemblies. We argue that the two- versus three-chamber distinction is coincidental to what was truly relevant: whether chambers were estate-based or had mixed representation from multiple estates. We provide a comparative institutional analysis that emphasizes political bargaining and the costs of expressing special versus common interests. This analysis suggests that mixed representation assemblies, all else equal, provided a stronger check on absolutism than their estate-based counterparts. We also provide historical case studies of France and England that lend insights into why an estate-based Estates General arose in the former, while a mixed representation Parliament arose in the latter.     

Analyzing the duration of IPOs from offering to listing using the Cox proportional hazards model

Portuguese Economic Journal - This study examines the duration from the offering to the listing of IPOs issued on the Pakistan Stock Exchange (PSX) during the period lasting from 1995 to 2017....     

The lurker in the object

ABSTRACT

A peculiar note from a neighbor of a consumer culture theorist stationed at Miskatonic University who has gone missing arrives for you. The Arkham police have tasked the neighbor with sorting out some seemingly-incoherent academic notes left behind by the professor. In particular, they have tasked him with reaching out to you in order to determine the meaning of a peculiar phrase, “the lurker waits in the object” scrawled into the missing professor's desk. The notes concern several topics, but seem, in the neighbor's opinion, to revolve around object-oriented ontology, horror reality, genre horror, and information by allusion. The neighbor emphasizes that the missing professor may have suffered some mental illness or other tragedy, but has no other viable leads aside from the phrase and notes and begs your expert advice on the topic.