Effectiveness of interventions to prevent motorcycle injuries: systematic review of the literature

Globally, 49% of deaths from traffic crashes occur among vulnerable road users, including pedestrians, bicyclists, and motorcyclists. Approximately, a quarter of those killed are motorcyclists. The authors carried out a systematic review of the literature to evaluate the effectiveness of interventions to prevent motorcycle crashes and the associated morbidity and mortality. The studies included in this review provide evidence for the effectiveness of helmet use, protective clothing, training, and penalties for alcohol consumption and speeding in preventing injury and death to motorcyclists. The use of helmets is effective, especially if it is universally required by law for drivers and passengers. Training to obtain a license also has positive effects but not when it is totally voluntary. There is limited but consistent evidence that strengthening laws for penalties related to alcohol consumption or speeding has an impact on risk. Traffic calming interventions could help reduce crashes in urban areas. In jurisdictions where there is limited regulation or adherence to effective measures, such as the use of helmets, efforts should be directed primarily at expanding such practices. In other areas, efforts can focus on approaches based on alternative effective measures or on more innovative interventions adapted to local conditions.     

Returning to flight: simulation‐based training for the US National Aeronautics and Space Administration's Space Shuttle Mission Management Team*

Following the tragic loss of Columbia in early 2003, executives at the National Aeronautics and Space Administration implemented a simulation‐based training program to facilitate the development of the Space Shuttle Mission Management Team (MMT). This article discusses the findings from an evaluation of two multi‐day simulation training events. The results of both evaluations suggested that MMT members: (1) possessed shared beliefs in their joint capabilities to execute their corecompetencies; (2) were motivated and ready for their Return to Flight mission; (3) achieved targeted levels of team performance during the simulations; and (4) were both satisfied with the training program and found it useful for facilitating performance improvements. This note concludes with a discussion of lessons learned.     

Choice of flexible production technologies under strategic delegation

This paper analyzes a managerial delegation model in which firms can choose between a flexible production technology which allows them to produce two different products and a dedicated production technology which limits production to only one product. We analyze whether the incentives to adopt the flexible technology are smaller or greater in a managerial delegation model than under strict profit maximization. We obtain that the asymmetric equilibrium in which only one firm adopts the flexible technology can be sustained under strategic delegation but not under strict profit maximization when products are substitutes. We extend the analysis to consider welfare implications.     

Investing in mutual funds: the determinants of implied and actual net cash flows

Estimating the fund investors’ demand plays an important role in the mutual fund management. In this line, mutual fund demand can be measured as the total net cash flows experienced by the fund during a period. Due to a lack of the data for inflows and outflows in some countries and databases, many authors estimate the net cash flows using fund size and return information. This rough measure, although being a good approximation, implicitly assumes an error in its calculation. For a sample of 2985 US open-end funds, we find evidence that estimating this implied fund flows, the error generated is higher for smaller funds, funds with higher returns, and for those experiencing higher levels of inflows or outflows. This lack of precision leads to a distortion in the estimation of the effect of some determinants on the mutual fund demand, especially when longer periods are considered when constructing the net cash flows.     

A Survey of Economic Understanding in U.S. High Schools

The recent widespread adoption of online competitions in economic education provides a unique opportunity to make frequent assessments of economic literacy in U.S. classrooms. In this survey, student responses to test items from the Test of Economic Literacy (TEL) are used to create economic concept and content area achievement benchmarks. These benchmarks provide an interim renorming of the TEL and allow the authors to gauge the status of economic understanding among high school students. The data also allow the authors to compare learning outcomes between regular and advanced economics classes. Finally, the authors find that students in advanced economics classes significantly outperform students in regular classes.     

Efficiency in banking services: a comparative analysis of Internet-primary and branching banks in the US

This paper investigates the provision of financial services by banks as a two-stage production process involving three different basic activities. The first stage includes service activities, while the second stage comprises both investment-related and risk management activities. Financial services performance is assessed in terms of service efficiency and investment and risk management efficiency for years 2002–2010. The major empirical findings are that the Internet-primary bank is more efficient than most branching banks in deposit-raising activities, but with regard to investment and risk management activities, there are many brick-and-mortar banks that match the online bank performance.     

Sovereign Spreads and Contagion Risks in Asia

In the aftermath of the recent global financial turmoil, sovereign spreads have exhibited a significant degree of volatility. This paper explores how much of these movements in the spreads of Asian economies reflected shifts in global risk aversion or country‐specific risks, directly from worsening fundamentals, or indirectly from spillovers originating in other sovereigns, or risks and uncertainty surrounding their exchange rates. This analysis finds that earlier in the crisis, the increase in market‐implied contagion led to an increase of sovereign bond yields relative to the swaps. Higher‐rated sovereign bonds in Asia benefited from the flight to quality that accompanied the increase in global risk aversion during this period. Once the systemic risks in the financial sectors worldwide were contained, the risk of sovereign spillovers eased, which, together with a fall in perceived currency‐related risks, led to a fall in sovereign bond yields relative to swaps yields across the board. Comparing the situation to that of Europe, the present paper concludes that the debt crisis in the euro area has not affected the perception of sovereign risks of Asian economies. In fact, a fall in exchange rate and spillover risks, combined with stronger fundamentals, have led to a continued normalization of Asian sovereign spreads since the height of the financial crisis.     

Efficiency in Crime Prevention: A Study of Lisbon’s Police Precincts

This article analyses the technical efficiency of Lisbon’s police precincts by evaluating their relative performance. It starts from the assumption that there is time‐varying efficiency and uses a stochastic cost‐frontier model to generate efficiency scores. Indeed, this efficiency model is thoroughly investigated. However, the results are found to be at best mixed, because the model reveals low efficiency and time‐unvarying scores. To increase efficiency, this article advocates an improvement of top management procedures, based on a governance‐environment framework.     

Optimal Structure of the Ginning Industry in the Southern High Plains of Texas

This study addresses the optimal structure of the cotton ginning industry in the Southern High Plains of Texas, assuming a monopolistically competitive market structure. Employing survey, regression, simulation, and mathematical programming techniques, the study determines the optimal structure of the ginning industry. Results indicate that a restructuring of the ginning industry in the Southern High Plains of Texas could save the industry about $15 million per season.