R&D budgeting in Swedish firms

Recent work by Näslund and Sellstedt report results which apparently conflict with accepted opinion on the techniques generally adopted in R&D budgeting. The analysis here suggests that these results can be reconciled with previous analyses and that in fact the role of ‘big science’ in Swedish R&D as well as relative size of Swedish firms compared to large U. S. and U. K. firms may explain the different conventions adopted in Swedish industry.     

Analysing the Agricultural Costs and Non‐market Benefits of Implementing the Water Framework Directive

Implementation of the Water Framework Directive (WFD) represents a fundamental change in the management of water in Europe with a requirement that member states ensure ‘good ecological status’ for all water bodies by 2015. Agriculture is expected to bear a major share of WFD implementation costs as it is compelled to reduce the emission of diffuse water pollutants. The research outlined here comprises interdisciplinary modelling of agricultural land use, hydrology and consequent water quality effects to consider both agricultural costs and the non‐market recreational use (and potentially non‐use) values that implementation of the Directive may generate. A theme throughout the research is the spatial distribution of the costs and benefits of WFD implementation, which is addressed through the use of GIS techniques in the modelling of agricultural land use, the integration of land use and hydrological models, and the estimation, aggregation and transfer of the economic value of the benefits.     

The Evolution of Co‐operation,Pairings and Networks

In this paper we develop an approach that may be helpful in analysing a variety of issues related to the evolution of corporate activity. We analyse the firm as an integrated system concerned with the management and organisation of internal and external linkages between businesses, with the emergence of co‐operative behaviour as an endogenous feature of growing systems. It is argued that such a perspective can help illuminate a number of topics relating to the theory of the firm, including its boundaries and the mode of co‐ordination of economic activity, particularly the choice between integration and co‐operative modes of operation.     

A microbiological survey of communal kitchens used by undergraduate students

The majority of food poisoning cases occur in the domestic environment as a result of inadequate hygiene practices. The possibility of food safety errors may be increased in domestic kitchens that are shared. However, there is very little information concerning the hygiene of these kitchens. This study investigates the microbial load of key sites in six student communal kitchens. In addition, hygiene was evaluated visually and questionnaires were used to assess the hygiene practices of the kitchen users. Results show that visual hygiene assessments are not a good indicator of microbial contamination, which, in this study, reveal poor levels of hygiene. Food safety errors were commonly made by users of the kitchens and their food hygiene practices suggest limited food safety knowledge and/or an absence of feelings of responsibility for the hygiene standard of the kitchen.     

Examining the formation of human capital in entrepreneurship: A meta-analysis of entrepreneurship education outcomes

Effective human capital formation through the medium of entrepreneurship education and training (EET) is of increasing concern for governments, as EET is growing rapidly across the world. Unfortunately, there is a lack of consistent evidence showing that EET helps to create more or better entrepreneurs. We undertake the first quantitative review of the literature and, in the context of human capital theory, find that there is indeed support for the value of EET. Based on 42 independent samples (N = 16,657), we find a significant relationship between EET and entrepreneurship-related human capital assets (r_w = .217) and entrepreneurship outcomes (r_w = .159). The relationship between EET and entrepreneurship outcomes is stronger for academic-focused EET interventions (r_w = .238) than for training-focused EET interventions (r_w = .151). We find evidence of heterogeneity in many of our correlations, and recommend that future studies examine potential moderators to more clearly delineate EET effect sizes. We also find a number of methodological weaknesses among the studies analyzed and that those studies with lower methodological rigor are overstating the effect of EET. Recommendations to improve the quality of future work in the field are provided.     

INTERTEMPORAL CHOICE AND DEVELOPMENT POLICY: NEW EVIDENCE ON TIME‐VARYING DISCOUNT RATES FROM VIETNAM AND RUSSIA

Assuming that individual discount rates are constant over time has important implications for policies and programs that involve intertemporal decision making. Using original data from Vietnam and Russia, we find evidence that discount rates do change over time for many individuals, implying that preferences for savings and credit might not be intertemporally consistent. We find that commonly held beliefs about gender and age influences do not hold once having children and location are controlled for. Within countries, however, residency does matter. Rural Vietnamese populations have higher discount rates, and living in a Russian trading town is associated with significantly higher discount rates and present bias than living in a government town. We argue that these behaviors are particularly likely to influence resource allocation in developing economies because there are fewer formal institutions and competitive markets to temper their effects.     

Cost-effectiveness of TYRX absorbable antibacterial envelope for prevention of cardiovascular implantable electronic device infection

Aims: Infection is a major complication of cardiovascular implantable electronic device (CIED) therapy that usually requires device extraction and is associated with increased morbidity and mortality. The TYRX Antibacterial Envelope is a polypropylene mesh that stabilizes the CIED and elutes minocycline and rifampin to reduce the risk of post-operative infection.

Methods: A decision tree was developed to assess the cost-effectiveness of TYRX vs standard of care (SOC) following implantation of four CIED device types. The model was parameterized for a UK National Health Service perspective. Probabilities were derived from the literature. Resource use included drug acquisition and administration, hospitalization, adverse events, device extraction, and replacement. Incremental cost-effectiveness ratios (ICERs) were calculated from costs and quality-adjusted life-years (QALYs).

Results: Over a 12-month time horizon, TYRX was less costly and more effective than SOC when utilized in patients with an ICD or CRT-D. TYRX was associated with ICERs of £46,548 and £21,768 per QALY gained in patients with an IPG or CRT-P, respectively. TYRX was cost-effective at a £30,000 threshold at baseline probabilities of infection exceeding 1.65% (CRT-D), 1.95% (CRT-P), 1.87% (IPG), and 1.38% (ICD).

Limitations and conclusions: Device-specific infection rates for high-risk patients were not available in the literature and not used in this analysis, potentially under-estimating the impact of TYRX in certain devices. Nevertheless, TYRX is associated with a reduction in post-operative infection risk relative to SOC, resulting in reduced healthcare resource utilization at an initial cost. The ICERs are below the accepted willingness-to-pay thresholds used by UK decision-makers. TYRX, therefore, represents a cost-effective prevention option for CIED patients at high-risk of post-operative infection.