Co-Creation Experiences: Attention and Memorability

This study examines the on-site co-creation experience from a tourist perspective. A review of the literature and in-depth interviews with tourists who participated in a ‘swimming with dolphins’ experience are used to explore the importance of co-creation in enhancing attention and the memorability of the experience. Findings suggest that the co-creation experience influences memorability by focusing the tourist’s attention. This study contributes to the conceptualization of co-creation in the field of tourism by substantiating the usefulness of a psychologically based approach to experience design.     

Application of Social Vulnerability Index (SoVI) and delineation of natural risk zones in Greater Lisbon,Portugal

Social Vulnerability Index (SoVI) was applied to Greater Lisbon (Portugal). Based on the concepts used for the SoVI assessments in the US, 46 variables representing social vulnerability of the 149 civil parishes of Greater Lisbon were chosen. Thirty-eight variables were selected after application of correlation tests. They were standardized, and a Principal Component Analysis and a Varimax rotation were applied to them. Seven factors were extracted using the Kaiser criterion, which explain 79.5% of the variance, and the SoVI scores were then mapped using a standard deviation classification. Twelve of the 149 civil parishes of Greater Lisbon have a very high social vulnerability and 24 of them have a high social vulnerability. The map of SoVI was then integrated with susceptibility maps of earthquakes, floods, flash floods, landslides, tsunami, and coastal erosion, thus delineating risk zones. Twenty-two civil parishes of Greater Lisbon have a very high risk; among them, 17 belong to Lisbon Municipality, four belong to Loures Municipality, and one belongs to Vila Franca de Xira Municipality. Finally, exposed population was considered and combined with risk zones map in order to assess the number of people being potentially exposed to risk and their location.     

Cost-effectiveness of droxidopa in patients with neurogenic orthostatic hypotension: post-hoc economic analysis of Phase 3 clinical trial data

Objective:

Falls are associated with neurogenic orthostatic hypotension (nOH) and are an economic burden on the US healthcare system. Droxidopa is approved by the US FDA to treat symptomatic nOH. This study estimates the cost-effectiveness of droxidopa vs standard of care from a US payer perspective.

Methods:

A Markov model was used to predict numbers of falls and treatment responses using data from a randomized, double-blind trial of patients with Parkinson’s disease and nOH who received optimized droxidopa therapy or placebo for 8 weeks. The severity of falls, utility values, and injury-related costs were derived from published studies. Model outcomes included number of falls, number of quality-adjusted life-years (QALYs), and direct costs. Incremental cost-effectiveness ratios (ICERs) were calculated. Outcomes were extrapolated over 12 months.

Results:

Patients receiving droxidopa had fewer falls compared with those receiving standard of care and gained 0.33 QALYs/patient. Estimated droxidopa costs were $30,112, with estimated cost savings resulting from fall avoidance of $14,574 over 12 months. Droxidopa was cost-effective vs standard of care, with ICERs of $47,001/QALY gained, $24,866 per avoided fall with moderate/major injury, and $1559 per avoided fall with no/minor injury. The main drivers were fall probabilities and fear of fall-related inputs.

Limitations:

A limitation of the current study is the reliance on falls data from a randomized controlled trial where the placebo group served as the proxy for standard of care. Data from a larger patient population, reflecting ‘real-life’ patient use and/or comparison with other agents used to treat nOH, would have been a useful complement, but these data were not available.

Conclusion:

Using Markov modeling, droxidopa appears to be a cost-effective option compared with standard of care in US clinical practice for the treatment of nOH.     

Lost in translation? The relative wages of immigrants in the Portuguese labour market

This article examines the wage gaps between immigrant and Portuguese workers using matched employer–employee data for the 2002–2008 period. We found that most of the wage gap is not due to the worst endowments of the immigrants but to differences in the returns to those characteristics and to the immigrant status effect. In particular, immigrants’ education and foreign experience are significantly less valued in the Portuguese labour market. Overall, the wages of immigrants do not fully converge to those of comparable natives as domestic experience increases. The assimilation rates tend to be stronger in the first years after migration and for immigrants with higher levels of foreign experience. Total immigrants are a heterogeneous group of different nationalities, with immigrants from the EU15 and China starring as the two extreme cases.     

Food availability, food entitlements, and radicalism during the Chinese great leap forward famine: an econometric panel data analysis

The purpose of this article is to investigate the socio-economic as well as the political, institutional, and ideological causes of the Chinese famine of 1959–1961. The main hypothesis of this paper is that the radical policies implemented as part of the Great Leap Forward resulted in agricultural output decline (i.e., availability issues), and in the implementation of an ineffective food distribution policy affecting rural populations (i.e., accessibility issues). An econometric analysis, based on provincial panel data from the 1954–1966 period, stresses the effect of ill-advised economic policies in handling the famine. This analysis also confirms that the increase in mortality rates during the famine was caused by the simultaneous collapse in food availability and food accessibility in rural areas.     

High-speed rail transport valuation and conjecture shocks

In this paper, we derive the optimal investment policy in a high-speed rail transport (HSR) project. We assume that the source of uncertainty comes from the annual demand, and that it follows a geometric Brownian motion with jumps of random magnitude, occurring in random times, according to a Poisson process. We assess the impact of these shocks on the demand threshold, along with the investment opportunity value and option to differ. We consider several distributions for these jumps, and we compare with the no-jumps case. Numerical results are presented, showing the importance of assumptions about the underlying stochastic process.     

Ladislaus von Bortkiewicz

Summary

In the theory of Poisson processes and compound Poisson processes with time-dependent change variables some results are obtained by use of a transformed change variable, independent of time. The theorem presented below shows that this method can be used in a wide class of problems, many of which are of actuarial interest.     

Climate Change and Financial Performance in Times of Crisis

Over the past years there has been a debate on the relationship between the environmental and financial performance of businesses, but researchers have not reached any agreement. This research attempts to explore this relationship, especially as in recent years there has been controversy about how this relationship has been affected by the global economic crisis. Taking into account that successfully limiting global climate change to safe levels in the long term is likely to require connecting climate change policies to sustainable development strategies, this paper focuses on the performance of environmental policies. We used a sample of 855 international companies in sectors of intensive greenhouse gas/CO₂ emissions. Specifically, we used data from the Forbes Global 2000 Index and Carbon Disclosure Project data from 2006 to 2009. The data analysis was performed using panel data methodology. The results obtained show that in times of economic crisis, the synergy between environmental and financial performance is higher, meaning that companies must continue to invest in sustainable projects in order to enhance relations with their stakeholders, leading to higher economic profits. Copyright © 2013 John Wiley & Sons, Ltd and ERP Environment