A direct test of hyperbolic discounting using market asset data

This paper introduces a framework that generalizes exponential discounting in a net present value model by including a quasi-hyperbolic discount parameter in the asset valuation equation. Using observed market asset data, a statistically significant quasi-hyperbolic parameter is obtained, thus rejecting exponential discounting.     

Predictors of registered nurses' willingness to remain in nursing

A major question about the adequacy of the future supply of nurses is how many will stay in the profession. The relationship between scheduling and propensity to stay or leave the nursing profession was examined in this study. This analysis suggests there are definite characteristics of the work schedules that can influence a nurse's inclination to stay or leave the profession. This is not simply a question of "overwork," but of matching work schedules and hours as closely as possible to employee expectations. This suggests management needs to find a way to pay attention when nurses request changes in hours. The mere fact of changing schedules will not solve the nursing shortage, but it is one action within the management control of any organization employing nurses that could have a positive effect on retention.     

Moral Judgment and its Impact on Business-to-Business Sales Performance and Customer Relationships

For many years, researchers and practitioners have sought out meaningful indicators of sales performance. Yet, as the concept of performance has broadened, the understanding of what makes up a successful seller, has become far more complicated. The complexity of buyer–seller relationships has changed therefore as the definition of sales performance has expanded, cultivating a growing interest in ethical/unethical actions since they could potentially have impacts on sales performance. Given this environment, the purpose of this study is to explore the impact of moral judgment on sales performance and sellers engaging in a customer-oriented selling approach. Specifically, by utilizing a sample of 345 business-to-business salespeople, this study examines the relationships between moral judgment, customer-oriented selling, and outcome and behavior based performance. Results, managerial implications, and opportunities for future research are provided.     

Economics at the Antitrust Division: 2017–2018

This article describes some of the work of Antitrust Division economists over the past year, with a focus on modeling. It begins by illustrating the mapping from evidence to prediction using tools for assessing the effects of mergers using Bertrand, Cournot, and auction models. It then turns to two hot topics in competition policy: the implications of claims of increasing margins for merger enforcement and the validity of claims of increasing concentration. Finally, it considers how mergers affect prices in bargaining models.     

Disengagement predictions via drift flux correlation vertical,horizontal and spherical vessels

The behavior of an open system is modeled. Thus, for special cases, the void fraction is predicted as a function of location and time. The open system may be an open vessel or a vessel with an open relief device. A single governing equation is derived based on combining the material and energy balances with the churn-turbulent drift flux relationship and assuming no radial gradients. This partial differential equation is not solved. It is, however, bounded by homogeneous and all vapor venting. These special cases are solved. In homogeneous venting the key variable is time. In all vapor venting under pseudo-steady-state conditions the key variable is location. The solution of the partial differential equation is also discussed. Under pseudo-steady-state and churn-turbulent conditions, the open system is modeled. The minimum void fractions (corresponding to a maximum liquid inventory) with all vapor venting, for vertical, horizontal, and spherical vessels are predicted and compared. Analytical expressions for the local and average void fractions in a vertical vessel and non-unity distribution parameters are presented. Void fraction profiles are compared for three cases: 1. vertical cylinders with distribution parameters (Co values) of unity and 1.5, 2. horizontal and vertical cylinders with varying L/D ratios, and 3. spheres with inscribed vertical cylinders having constant gas production to bubble rise ratio (Ψ′ value). The vertical cylinder average void fraction for non-unity distribution parameters can now be calculated analytically. The horizontal cylinder average void fraction predicted by turning it upright results in an over prediction of at most 4%. The sphere average void fraction predicted via an inscribed vertical cylinder, with the same Ψ′ value, is consistenly high by at most 8%.