Disaggregating food consumption parameters : Designing targeted nutritional interventions

This article is concerned with a new nutritional intervention strategy, which is based on the belief that malnourished people eat different types of food to the well-nourished. The calculation of disaggregated food consumption parameters can identify ‘inferior’ food commodities; and the subsidization of these commodities will target intervention to those most in need. The effectiveness of this policy depends on the understanding of its theoretical basis. The author introduces the policy maker to this by reviewing the theoretical basis for consumption analysis, and then several key studies.     

Group incentive compatibility in a market with indivisible goods

In a market where each trader has one unit of an indivisible good, there are procedures for exchanging goods which result in competitive allocations. One of these procedures, the top trading cycle, has the property that it is in each trader's best interest to report his true preferences over the set of goods. This note shows that no subset of traders can misrepresent their preferences and improve the allocation for all members of the subset. Additionally, if there are no indifferences in the preferences, then some traders in a subset that misrepresents preferences do worse.     

MOMENTUM: DOES THE DATABASE MAKE A DIFFERENCE?

We examine discrepancies between the Center for Research in Security Prices (CRSP) and Trade and Quote (TAQ) databases by examining the returns of momentum strategies using each database. Momentum portfolios constructed from CRSP prices earn significant profits whereas similar portfolios using TAQ prices show losses. Adjusting TAQ prices with the TAQ dividends file or with the cumulative distribution factor provided by CRSP does not eliminate all differences. There are significant discrepancies in the way CRSP and TAQ record newly listed and delisted stocks. We document the residual (after all filters) price differences between the two databases and provide filters to adjust TAQ data for long sample periods and large sample sizes. Our filtering procedures allow for the possibility of examining intraday patterns in momentum profits.     

THE EFFECTS OF INFORMATION TECHNOLOGY ON STRATEGIC DECISION MAKING

Information technology (IT) may be defined as computer-based technology for the storage, accessing, processing and communication of information. Many writers have suggested that the use of IT should improve strategic decisions and have developed a number of propositions about the effects of IT on strategic decision making. However, no study has yet addressed the specific effects of IT on major phases of this process. Using Mintzberg, Raisinghani and Theoret's (1976, ‘The structure of unstructured decision processes’, Administrative Science Quarterly, 21, 2, 246–75) strategic decision-making model, this study assessed the effects of IT on the major phases of the process through an intensive examination of eight decisions in four companies. the results of the study provide new information on the specific ways IT improves decision-making efficiency and effectiveness at each stage of the strategic decision process.     

Can “good” architecture meet the market test?

Architectural quality is a public good characteristic of a building for which a market failure may occur. A hedonic price equation for office space in downtown Chicago is estimated to determine if the value of “good” architecture has been internalized by tenants or owners of commercial buildings. The regression results indicate that a considerable rent premium is paid for “good” new architecture but not for “good” old architecture. The results also yield information about the impact on office rent of other building characteristics such as age, height, location, and amenities.