Capital taxation, long-run growth, and bequests

It has been shown that higher capital taxes can have a growth-enhancing effect when combined with a revenue-compensating cut in wage taxes or with an expansion in productivity-increasing public services. The present paper demonstrates that these results critically hinge on the existence of a bequest motive. It is shown that a wage-tax cut is no longer growth-enhancing when bequests are operative. By way of contrast, increasing productive public services may well boost growth. The theoretical findings are illustrated by numerical simulations based on US data.     

Modelling purchases as a function of advertising and promotion

This article describes the preliminary studies of the effect of advertising and promotion on purchases. The British single-source database Adlab has been the basis for this study of advertising and promotion effectiveness. The ST AS measure and logit modelling have been used to estimate the effect of advertising. The results from the two measures have been compared to determine the extent to which the two measures give occasion for the same conclusions. To indicate the accuracy of the two measures, their respective levels of significance have been studied. Two logit models have been estimated; one only includes the effect of TV exposure, while the other also includes the effect of promotions. The results from the two logit models are compared to determine which model gives the most accurate estimate of the effect of advertising. When comparing the results from the STAS measure with the parameter estimates from the second logit model, it is found that these two different measures largely lead to similar conclusions. Suggestions for further research and developments of the models are given.     

Helfen Darmhormone bei Diabetes?

Neue Behandlungsm?glichkeiten des Diabetes-Typ-2 - Weltweit ist eine Zunahme der Erkrankungsh?ufigkeit bei Diabetes mellitus zu beobachten. Nach Angaben der International Diabetes Federation (IDF) sind aktuell circa 285 Millionen Menschen betroffen. Hochrechnungen gehen davon aus, dass sich diese Zahl bis zum Jahr 2030 auf 439 Millionen Menschen erh?hen wird.     

Collaboration risk management in IT-enabled asymmetric partnerships: Evidence from telestroke networks

Information technology (IT)-enabled partnerships can unlock previously unattainable value propositions between organizations that have resource, capability, and other asymmetries by allowing larger organizations access to niche and local resources while providing smaller organizations access to enhanced resources and capabilities. However, recent studies have shown that many IT-enabled asymmetric partnerships often fail because the organizations do not effectively manage the involved collaboration risks. Most organizations focus on the strategic aspect of whether partners behave cooperatively or competitively, while paying scant attention to the operational aspect of bringing together partner contributions through coordination. To examine this problem, we report on a case study of two hub-spoke networks that used telemedicine to facilitate expertise sharing and decision making about stroke treatment at emergency departments in rural hospitals (spokes) based on information exchanges with remote neurologists at academic medical centers (hubs). As a result, we contribute to the inter-organizational information systems literature by explaining how organizations in IT-enabled asymmetric partnerships manage collaboration risks. We demonstrate how partners in such relationships perceive and approach strategic cooperation and operational coordination risks differently. We also explain how collaboration interactions change over time as the partners manage risks based on needs and resource endowments. Drawing on these findings, we provide guidance to organizations on how to manage sustainable IT-enabled asymmetric partnerships in general, and telestroke networks in particular.     

Expertenwissen im politischen Prozess — Nutzen,Grenzen und Gefahren

Since the outbreak of the financial and economic crisis, confidence in politicians as well as the economists in their advisory expert panels seems to be at an all-time low. Why do politicians reject science-based advice unless it fits into their political agenda? Are economists misunderstood by politicians and vice versa? The tension between the ideal of evidence-based policy-making and the reality of policy-based evidence-making is hardly a new phenomenon. Therefore, the expectation that Donald Trump, the Brexiteers and European populists will necessarily disappoint their voters because they simply cannot deliver what they have promised is misleading. Experts would be well advised to use the debate on the post-factual era as an impetus to reflect critically on their profession. One opinion expressed in this Zeitgespräch is that the contested societal and political impact of modern economics is due to its restricted scientific self-concept. A more open, pluralistic and transdisciplinary self-definition of economics would strengthen its societal influence. Another contributor ponders the proper incentives to persuade academic economists to provide economic policy advice. Key is the independence of advisory institutions like the German Council of Economic Experts. The selection of people with the best scientific qualifications will ensure the reputation of such institutions.     

Match Point Management — Gleichzeitig Kosten- und Marktperformance verbessern

Der Matchpoint entscheidet über Sieg oder Niederlage. Match Point Management zeigt, wie man Krisen meistert, indem man gleichzeitig Gewinn und Kosten verbessert — ohne in die Falle eines zyklischen Auf und Ab zu tappen.     

Solidarity and Probabilistic Target Rules

We consider a probabilistic approach to collective choice problems where a group of agents with single-peaked preferences have to decide on the level or location of a public good. We show that every probabilistic rule that satisfies Pareto efficiency and "solidarity" (population-monotonicity or replacement-domination) must equal a so-called target rule.     

Strategy-Proof Probabilistic Decision Schemes for One-Dimensional Single-Peaked Preferences

Collective decision problems are considered with a finite number of agents who have single-peaked preferences on the real line. A probabilistic decision scheme assigns a probability distribution over the real line to every profile of reported preferences. The main result of the paper is a characterization of the class of unanimous and strategy-proof probabilistic schemes with the aid of fixed probability distributions that play a role similar to that of the phantom voters in H. Moulin (Public Choice35 (1980), 437-455). Thereby, the work of Moulin (1980) is extended to the probabilistic framework. Journal of Economic Literature Classification Numbers: D71, D81.