The Gradual Response of Cigarette Demand to Health Information

The paper focuses on the US cigarette industry and uses a gradual switching regression model to estimate changes in the US demand for cigarettes over time. This technique is found to be superior to the use of dummy variables in capturing the health scare. The results show that cigarette demand gradually decreased over a ten‐year period coinciding with the release of key health information. Price and advertising elasticities have gradually diminished, which is consistent with a change in the mix of US consumers before and after the switch.     

David R. Meyer. Networked Machinists: High-Technology Industries in Antebellum America

How did entrepreneurs in antebellum American industry acquirethe knowledge required to operate iron foundries and build steamengines, locomotives, machine tools, and even firearms? Didthey simply hire experts from England to teach the small numberof machinists in America new techniques—something difficultto do since the British government tried to prevent that knowledgefrom getting out? Or, did they rely on machinists who broughtwith them knowledge of new processes when they immigrated toAmerica? And, when     

Nutrition Ad Claims and Disclosures: Interaction and Mediation Effects for Consumer Evaluations of the Brand and the Ad

The effects of ad disclosure information on evaluations of the brand, the advertisement, and purchase intentions are postulated to vary across different ad claim types. In addition, consumers' product health perceptions are hypothesized to mediate the effects of the disclosure information and ad claim type on brand and ad-related evaluations. Results from a between subjects' experiment show that the health perception measure mediates the effect of the disclosure on brand and ad evaluations, but the interaction between the ad claim type and the disclosure is not mediated by the inclusion in the model of consumers' product health perceptions.     

Political Connections and Industrial Pollution: Evidence Based on State Ownership and Environmental Levies in China

This paper examines the effectiveness of public enforcement by studying the effects of regulatory intervention to curb tunneling through intercorporate loans in China. Specifically, we explore whether public enforcement efforts in 2006 (blacklisting and sanctions) resulted in less tunneling, and ultimately in increased performance for tunneling firms. We show that tunneling is among the dominant factors increasing the likelihood of becoming blacklisted. We also find that firms’ tunneling mechanisms decreased significantly after the regulatory shock, and that their performance increased significantly compared to non-tunneling firms after the regulatory shock. Finally, we find a positive market reaction to the public announcement of tunneling both for firms that have been blacklisted and other tunneling firms that are not blacklisted. Collectively, these results suggest that public enforcement in the presence of a credible threat succeeds in deterring the effect on tunneling behavior in China.     

Burden of illness associated with sinusoidal obstruction syndrome/veno-occlusive disease in patients with hematopoietic stem cell transplantation

Aims: Sinusoidal obstruction syndrome (SOS) is a life-threatening complication of hematopoietic stem cell transplantation (HSCT) associated with significant morbidity and mortality. Healthcare utilization, costs, and mortality were assessed in HSCT patients diagnosed with SOS, with and without multi-organ dysfunction (MOD).

Materials and methods: This retrospective observational study identified real-world patients undergoing HSCT between January 1, 2009 and May 31, 2014 using the Premier Healthcare Database. In absence of a formal ICD-9-CM diagnostic code, SOS patients were identified using a pre-specified definition adapted from Baltimore and Seattle criteria and clinical practice. Severe SOS (SOS/MOD) and non-severe SOS (SOS/no-MOD) were classified according to clinical evidence for MOD in the database.

Results: Of the 5,418 patients with a discharge diagnosis of HSCT, 291 had SOS, with 134 categorized as SOS/MOD and 157 as SOS/no-MOD. The remaining 5,127 patients had HSCT without SOS. Overall SOS incidence was 5.4%, with 46% having evidence of MOD. Distribution of age, gender, and race were similar between the SOS cohorts and non-SOS patients. After controlling for hospital profile and admission characteristics, demographics, and clinical characteristics, the adjusted mean LOS was 31.0 days in SOS/MOD compared to 23.9 days in the non-SOS cohort (medians?=?26.9 days vs 20.8 days, p?p?Limitations: Limitations of retrospective observational studies apply, since the study was not randomized. Definition for SOS was based on ICD-9 diagnosis codes from a hospital administrative database and reliant on completeness and accuracy of coding.

Conclusions: Analysis of real-world data shows that SOS/MOD is associated with significant increases in healthcare utilization, costs, and inpatient mortality.     

Futures Contracts in Water Leasing: An Experimental Analysis Using Basin Characteristics of the Rio Grande,NM

Providing for increased water demands during periods of persistent drought and climatic variability may require water managers, users and planners to think differently about how water resources are allocated. A water marketing institution that allows water rights holders to reallocate water on a temporary basis could overcome these challenges with minimal conflict. In this paper, a water marketing institution that allows for the temporary reallocation of water rights in a spot and futures market is investigated. The results provide insight into three key questions: (1) how does trading impact the physical system, (2) does the value of water differ by trading agents, (3) how is economic welfare redistributed as a result of trading? Results of experimental treatments display minor impacts to the physical system, that prices differ across the different type of trading agents and the addition of a futures market has the ability to decrease market prices while increasing economic welfare as a futures market allows users to hedge against future water uncertainty.     

Joint estimation of discount rates and willingness to pay for public goods

We analyze willingness to pay (WTP) for environmental programs whose time periods of benefit and repayment differ, using a net present value framework that identifies parameters of both WTP and personal discount rates. Respondents to a contingent valuation survey focusing on protection of critical habitat buffer zones for the endangered Steller Sea Lion in Alaska were asked their willingness to pay for 1-, 5-, and 15-year repayment periods. We jointly estimate the personal discount rates and WTP via maximum likelihood, and compare with a model assuming a fixed, market discount rate.