Social preferences for health states: An empirical evaluation of three measurement techniques

Health state preferences measured on the general public provide useful information in their own right as well as being necessary data for the application of many health status index models. But, how should the preferences be measured? This paper reports the results of an empirical investigation in which three measurement techniques are applied to several samples of the general public to measure the social preferences for ten different health states. The standard gamble technique by von Neumann-Morgenstern, a time trade-off technique by the author, and a category scaling method are analyzed with respect to their feasibility, reliability, validity and comparability.     

Zip-mentation : (A selective mailing strategy using zip code segmentation for industrial mailings to professionals)

The basic thrust of this paper deals with the mechanics of implementing a management information system to obtain marketing feedback for management decision making. It organizes the specific variables involved and welds them into a meaningful model plan which allows the marketing manager or his assistants to intelligently determine the results of their efforts on regular and experimental mailings. This model hopefully obviates the possibility of confusing cause and effect which seems to be one of the most common errors that occurs in direct response today.     

Random coefficient first-order autoregressive models

This paper discusses the random coefficient model applied to panel data in a time-series context. Some of the basic issues involved in pooling problems are studied. An analysis of a first-order autoregressive model, where the autoregressive coefficients across units are regarded as a random sample from a beta distribution, is presented and illustrated by an example using real data. Generalizations to higher-order models are discussed.     

An assessment of polish economic development in the 1970's

The economic policy of the Gierek administration is examined alongside the economic performance of the Polish economy in the 1970's. From very favourable economic circumstances in the early seventies the authorities encouraged a consumption and investment boom of which they soon lost all control. Sharp reversals in economic policy were later applied in order to deal with the chronic macroeconomic disequilibrium produced by the uncontrolled expansion. Policy zigzags have resulted in a highly disorganised economy increasingly ‘managed’ in an arbitrary way by central directive. The period was one of costly mistakes and lost opportunities.     

An autoregressive jump process for common stock returns

This paper develops a new distribution theory for common stock returns. The model is composed of a calendar time diffusion process and a jump process where the magnitudes of the jumps may be autocorrelated. Empirical tests are performed on a month of transactions returns for twenty New York Stock Exchange securities. The data analysis supports the validity of the proposed theory.     

Distribution effects and the business demand for money

This paper examines whether and how changes in an industry's firm-size distribution affect the per-firm demand for money. The size distribution of an industry potentially affects the demand for money through several channels. We examine four of those channels: 1) economies of scale; 2) decentralization in cash management; 3) cost of credit; and 4) compensating balances. We conclude that increasing the size inequality increases the industry's per-firm demand for money.