A stage-dependent model of resource utilization,strategic flexibility,and implications for performance over time: Empirical evidence from a transitional environment

It has long been recognized that there is a tradeoff between exploration and exploitation. How organizations utilize resources across time and space will affect firm survival and growth. In this paper, we examine resource utilization and performance implications over time in an environment undergoing fundamental institutional transformation. Based on a large archive of Chinese government data from 1988, 1992, and 1996, the study finds that (1) the impact of resource utilization is contingent on the degree to which different resources are committed to factors of production, (2) the impact is curvilinear and only valid within an “optimal” range, and (3) the performance implications change over time. As firms enter later stages of the transitional process, efficiency becomes less important as they shift their strategic focus from exploitation to exploration, which requires more flexibility. These findings have significant bearing on the issue of upgrading technological competitiveness in China as the country becomes increasingly integrated in the global economy. Such insights may also have implications for other emerging economies in Asia.

The economic burden of common adverse events associated with metastatic colorectal cancer treatment in the United States

Aims: Adverse events (AEs) associated with treatments for metastatic colorectal cancer (mCRC) may compromise the course of treatment, impact quality-of-life, and increase healthcare resource utilization. This study assessed the direct healthcare costs of common AEs among mCRC patients in the US.

Methods: Adult mCRC patients treated with chemotherapy or targeted therapies were identified from administrative claims databases (2009–2014). Up to the first three mCRC treatment episodes per patient were considered and categorized as with or without the AE system/organ category during the episode. Total healthcare costs (2014 USD) were measured by treatment episode and reported on a monthly basis. Treatment episodes with the AE category were matched by treatment type and line of treatment to those without the AE category. Adjusted total cost differences were estimated by comparing costs during treatment episodes with vs without the AE category using multivariate regression models; p-values were estimated with bootstrap.

Results: A total of 4158 patients with ≥1 mCRC treatment episode were included (mean age?=?59 years; 58% male; 60% with liver and 14% with lung metastases; 2,261 [54%] with a second and 1,115 [27%] with a third episode). On average, two treatment episodes were observed per patient with an average length of 166 days per episode. Adjusted monthly total cost difference by AE category included hematologic ($1,480), respiratory ($1,253), endocrine/metabolic ($1,213), central nervous system (CNS; $1,136), and cardiovascular ($1,036; all p?Limitations: Claims do not include information on the cause of AEs, and potentially less severe AEs may not have been reported by the physician when billing the medical service. This study aimed to assess the association between costs and AEs and not the causation of AEs by treatment.

Conclusions: The most costly AEs among mCRC patients were hematologic, followed by respiratory, endocrine/metabolic, CNS, and cardiovascular.     

Modern Money Theory and Distributive Justice

Modern money theory is a conjecture concerning fiscal spending and the nature of money. I show that modern money theory provides two interesting insights into distributive justice that have not been addressed in the recent Anglo-American distributive justice literature: (i) that the nature of a sovereign fiat currency allows for some distributive conflicts to be avoided; and (ii) that recent Anglo-American distributive justice theories assume that the economy is at capacity. Based on this, I consider whether the policy results of modern money theory can help foster a sense of justice.     

How do school ‘report cards’ affect school choice decisions?

Abstract. We estimate the effect of information about school achievement that is disseminated to the public through websites and school ‘report cards’ on school choice decisions. We find that students are more likely to leave their school when public information reveals poor school‐level performance. Some parents’ school choice decisions respond to information soon after it becomes available. Others, including non‐English‐speaking parents, alter their school choice decisions only in response to information that has been disseminated widely and discussed in the media. Parents in low‐income neighbourhoods are most likely to alter their school choice decisions in response to new information. JEL classification: I21, D83     

Arena-based events and crime: an analysis of hourly robbery data

This article makes use of hourly crime counts to model the relationship between events that take place at the Prudential Center in Newark, NJ and robberies, an arena that has caused local controversy regarding the costs and benefits of hosting such an entertainment venue. Results from the econometric model suggest that the NHL’s New Jersey Devils ice hockey games, concerts, and Disney-themed events are all associated with increases in robbery, while various other event categories such as the NBA basketball games played by the Nets and boxing, and mixed martial arts (MMA) matches are not associated with an increase. These findings support two complementary ecological theories of crime that focus on how events provide additional opportunities for crime by increasing the associated benefits while simultaneously decreasing the cost for economically motivated offenders to take advantage of.     

Does peer group size influence social preferences and risk taking?

This paper examines whether the ex post relative payoffs of peers as well as the size of the peer group impact an agent's willingness to take risks. For example, persons in a flood plain may be less likely to purchase flood insurance if their neighbors also refrain from purchasing. We generalize the Fehr‐Schmidt (1999) model to allow the intensity of the social preferences to vary with the size of the peer group. Our experiment tests whether subjects are more or less likely to choose a lottery over a fixed payment when others have been assigned either the same lottery or the fixed payment. Using both between and within subject designs, we find risk‐taking behaviour is not responsive to the risks faced by others regardless of the size of peer group.     

Partisanship and the effectiveness of oversight

We examine the welfare effects of partisanship in a model of checks and balances. An executive makes a policy proposal and an overseer then decides whether or not to veto the executive's proposal. Both the executive and the overseer have private information as to the correct policy to pursue, and both are motivated by the desire to appear competent. A partisan overseer is one who, in addition to seeking to promote her own reputation, cares how her decision will impact the executive's reputation. Our main result is that partisanship can improve the efficacy of an oversight regime, as the distortions caused by a partisan overseer's desire to affect the executive's reputation can offset the distortions caused by her desire to enhance her own. Our results provide a new rationale for divided government, as partisan considerations are often necessary to prevent the overseer from rubber stamping all executive proposals.     

Further Results on Bayesian Method of Moments Analysis of the Multiple Regression Model

In this article we extend previous BMOM results by showing how information about a variance parameter and its relation to regression coefficients produces a rich class of postdata densities for regression parameters. Prediction and model selection techniques are also described. We also discuss the well-documented link between cross-entropy and the average log odds and then use this criterion in an experiment to compare results obtained from BMOM and Bayes approaches using data generated from known models.