Using stated preference discrete choice modelling to inform health care decision-making: A pilot study of breast screening participation

This study was an important start to explore the feasibility of applying stated preference discrete choice modelling (SPDCM) for use in developing breast screening participation enhancement strategies. It needs to be followed by further research to establish model validity and authoritative results. In the meantime a random effects binary probit choice model was estimated using a main effects with selected 2-way interaction design and a convenience sample of Australian breast cancer screening participants. A response rate of 48% was obtained. Clear preferences for different service configurations were revealed and used to demonstrate how potential strategies to enhance future participation rates of women placed on routine recall could be identified. As anticipated accuracy of screening was the most important attribute of the service to influence the probability of uptake but others were screening time, travel time, information about screening benefits and the desire for privacy lending support to the view that benefit assessment goes beyond health factors. In summary, the SPDCM approach can be regarded as a judicious approach for helping decision-makers improve screening participation.     

Dialogism in Corporate Social Responsibility Communications: Conceptualising Verbal Interaction Between Organisations and Their Audiences

We conceptualise CSR communication as a process of reciprocal influence between organisations and their audiences. We use an illustrative case study in the form of a conflict between firms and a powerful stakeholder which is played out in a series of 20 press releases over a 2-month period to develop a framework of analysis based on insights from linguistics. It focuses on three aspects of dialogism, namely (i) turn-taking (co-operating in a conversation by responding to the other party), (ii) inter-party moves (the nature and type of interaction characterising a turn, i.e. denial, apology or excuse) and (iii) intertextuality (the intensity and quality of verbal interaction between the parties). We address the question: What is the nature and type of verbal interactions between the parties? First we examine (a) whether the parties verbally interact and then (b) whether the parties listen to each other. We find evidence of dialogism suggesting that CSR communication is an interactive process which has to be understood as a function of the power relations between a firm and a specific stakeholder. Also, we find evidence of intertextuality in press releases by six firms which engage in verbal interaction with the stakeholder. We interpret this as linguistic evidence of isomorphic processes relating to CSR practices resulting from the pressure exerted by a powerful stakeholder. The lack of response by ten firms that fail to issue press releases suggests a strategy of ‘watch-and-wait’ with respect to the outcome of the conflict.     

Do social product features have value to consumers?

The present paper utilizes a random utility theoretic experimental design to provide estimates of the relative value that selected consumers place on the social features of products. Experiments were conducted in Hong Kong and Australia using both university students and supporters of the human rights organization Amnesty International. The paper focuses on two classes of social features, “labor practices” and “animal rights and the environment”. The results show that the social features of products can, on average, affect an individuals' likelihood of purchasing a product. Also, this paper finds distinctive segments of ethically orientated consumers.     

Applying “Merger Guidelines” market definition to (de)regulatory policy: Pros and cons

Since initially presented in the 1982 Department of Justice Horizontal Merger Guidelines, market definition has been adopted nearly worldwide as a framework to see if a merger would substantially lessen competition. This framework is useful for addressing the similarly counterfactual question of whether forbearance from regulation would lead to an increase in prices. In this context, however, the usefulness of a merger-based market definition is limited. Because the alternative to forbearance is regulation, and since some regulated rates may be below competitive levels, finding that deregulation would lead to market power as defined for mergers need not justify continued regulation. Forbearance in telecommunications highlights market definition questions regarding gross vs. marginal substitutes, dynamic efficiencies, and service bundling. It also reveals ambiguities in the meaning of “geographic market.” Market definition also has limited applicability if regulation exists not to prevent high prices but the abuse of dominance through predatory pricing.     

Spillover Effects of International Agricultural Research: CIMMYT-based Semi-Dwarf Wheats in Australia

The spillover effects of agricultural research are of interest because research-induced supply shifts in non-target regions can reduce the benefits for producers in the target regions. The introduction of semi-dwarfing genes in wheat into Australia provides an example of spillover from the CIMMYT program. Australia's wheat-growing environments were not those for which the CIMMYT material was specifically targeted. However, some of these lines were introduced into Australia and used in breeding programs to produce important supply shifts in Australia. An examination is made of the effects that the spillover had in Australia. Using an index of varietal improvement, with its attendant qualifications, an estimate of the extent of that shift resulting from the CIMMYT-based varieties was obtained. While the extent varied widely between states, the shift was found to be between 0.2 and 7.7%, with an overall average for Australia of 3.5% by 1983. On the basis of an assumption of perfectly elastic export demand for Australian wheat, the estimated total cost savings to Australian producers were US$747 million (in 1983-84 dollars) for the period 1974 to 1983, or an average of US$75 million per year. The annual contribution of Australia to CIMMYT has averaged approximately US$340,000 in recent years, while the average annual expenditure on wheat breeding in Australia has been US$4 to 5 million. On the basis of pedigrees, approximately two-thirds of the cost savings of CIMMYT-based varieties could be attributed to CIMMYT per se, with the remaining one-third attributable to the inputs of the Australian wheat breeders.     

Returns to Initial Shareholders in Savings Institution Conversions: Evidence and Regulatory Implications

In this paper, stock prices for savings institutions that have converted to the stock form of organization are examined. Event-study methodology is used to focus on the returns to initial shareholders in the period immediately following initial trading. The results of the study indicate significant positive returns in savings institution conversions in the first several trading days, suggesting a one-time wealth transfer from depositors not exercising their rights to initial shareholders. The results also provide support for the efficiency of the market as the market price adjusts quickly in the first two days of trading after the public offering. Given the FHLBB's objectives, there appears to be little cause for regulatory concern although initial returns are significant.     

Consumer overindebtedness: a review of the quality of money advice services in Scotland

Levels of consumer borrowing and debt in the UK and globally continue to rise. Credit makes a vital contribution to the success of the UK economy by driving economic activity and allowing consumers flexibility in how they choose to access the marketplace and manage their finances. Although most consumers manage their borrowing effectively, for a minority, the ease of access to credit results in overindebtedness. As a consequence, the need for money advice is prevalent. In the UK in recent years, services have been developed to assist consumers in financial difficulty. In Scotland, additional funding has been made available to enable further service developments in local government or voluntary sector provision. This paper reviews the literature on consumer overindebtedness, the development of money advice services and discusses the quality of these services in Scotland. It is likely to be of interest in other countries where consumer overindebtedness is rising and where money advice services are being developed to assist those experiencing problems. The review found that the rising levels of overindebtedness justify the case for developing money advice services but that there are many quality issues which require to be managed. Implications for the money advice profession were identified together with suggestions for the development of services in other countries.     

Comparing Aggregate Housing Price Measures

Three methodologies to measure the aggregate price of housing JEL Classification C82,R31     

Majority rule with dollar voting

Consider a majority game in which each player's voting strength is equal to the player's payoff. In this game, wealth is the only source of power, and any coalition with more than half the wealth can take everything. Only extreme concentrations of wealth, in which one player owns everything or two players each own half the total wealth are undominated, and thus constitute the core. However, the stable set (von Neumann-Morgenstern solution) is significantly larger. Allocations in which one player has half the wealth, or which divide the total wealth equally among a number of players equal to a power of two, constitute the unique stable set. The stable set thus provides a formal model of an endogenous balance of power.