Corporate property rights

Corporate property rights present an interesting challenge to the liberal conception of property rights, for it is unclear that the self-respect of individuals is promoted by the existence of a system of property rights for corporations. I argue that it is difficult even to identify who the individuals are who are the owners of large corporations, and why these individuals should be given the same claims, protections and immunities as other property rights holders since the liabilities of corporate property rights holders are not the same as of those, for instance, who own their own homes. In this paper I first try to understand who it is who owns the large corporation. Secondly, I show that the limited liability of these corporate property owners makes the justification of corporate property rights quite difficult, from the classical liberal perspective. I end with a few brief remarks on changes in legal policy which would be consistent with my arguments on the nature and justification of corporate property rights. Larry May is Associate Professor of Philosophy at Purdue University. He was awarded with the Exxon Education Foundation Grant during the Summer of 1982. His most important publications are Vicarious Agency and Corporate Responsibility (Philosophical Studies 43, pp. 69–82, 1983), On Conscience (American Philosophical Quarterly 20, pp. 57–67, 1983), Professional Actions and the Liabilities of Professional Associations (Business and Professional Ethics Journal 2, pp. 1–14, Fall 1982), and Sexual Harassment (Social Theory and Practice 6, pp. 249–280, 1980).     

Cost-effectiveness of blinatumomab versus salvage chemotherapy in relapsed or refractory Philadelphia-chromosome-negative B-precursor acute lymphoblastic leukemia from a US payer perspective

Objective: To evaluate the cost-effectiveness of blinatumomab (Blincyto) vs standard of care (SOC) chemotherapy in adults with relapsed or refractory (R/R) Philadelphia-chromosome-negative (Ph?) B-precursor acute lymphoblastic leukemia (ALL) based on the results of the phase 3 TOWER study from a US healthcare payer perspective.

Methods: The Blincyto Global Economic Model (B-GEM), a partitioned survival model, was used to estimate the incremental cost-effectiveness ratio (ICER) of blinatumomab vs SOC. Response rates, event-free survival (EFS), overall survival (OS), numbers of cycles of blinatumomab and SOC, and transplant rates were estimated from TOWER. EFS and OS were estimated by fitting parametric survival distributions to failure-time data from TOWER. Utility values were based on EORTC-8D derived from EORTC QLQ-C30 assessments in TOWER. A 50-year lifetime horizon and US payer perspective were employed. Costs and outcomes were discounted at 3% per year.

Results: The B-GEM projected blinatumomab to yield 1.92 additional life years and 1.64 additional quality-adjusted life years (QALYs) compared with SOC at an incremental cost of $180,642. The ICER for blinatumomab vs SOC was estimated to be $110,108/QALY gained in the base case. Cost-effectiveness was sensitive to the number and cost of inpatient days for administration of blinatumomab and SOC, and was more favorable in the sub-group of patients who had received no prior salvage therapy. At an ICER threshold of $150,000/QALY gained, the probability that blinatumomab is cost-effective was estimated to be 74%.

Limitations: The study does not explicitly consider the impact of adverse events of the treatment; no adjustments for long-term transplant rates were made.

Conclusions: Compared with SOC, blinatumomab is a cost-effective treatment option for adults with R/R Ph???B-precursor ALL from the US healthcare perspective at an ICER threshold of $150,000 per QALY gained. The value of blinatumomab is derived from its incremental survival and health-related quality-of-life (HRQoL) benefit over SOC.     

The evolution and convergence of OECD tax systems

This paper considers theory-based expectations on the evolution of tax structures in developed countries and confronts them with stylised facts from aggregate tax revenue data. A bilateral similarity index is introduced which allows the measurement of the similarity of tax systems conditional on country characteristics. A slow but steady convergence in tax revenue structures is found which depends on the proximity, similarity and exchange between a given pair of countries.     

Partnership Formation for Change: Indicators for Transformative Potential in Cross Sector Social Partnerships

Despite their ethical intentions, ethically minded consumers rarely purchase ethical products (Auger and Devinney: 2007, Journal of Business Ethics 76, 361–383). This intentions–behaviour gap is important to researchers and industry, yet poorly understood (Belk et al.: 2005, Consumption, Markets and Culture 8(3), 275–289). In order to push the understanding of ethical consumption forward, we draw on what is known about the intention–behaviour gap from the social psychology and consumer behaviour literatures and apply these insights to ethical consumerism. We bring together three separate insights – implementation intentions (Gollwitzer: 1999, American Psychologist 54(7), 493–503), actual behavioural control (ABC) (Ajzen and Madden: 1986, Journal of Experimental Social Psychology 22, 453–474; Sheeran et al.: 2003, Journal of Social Psychology, 42, 393–410) and situational context (SC) (Belk: 1975, Journal of Consumer Research 2, 157–164) – to construct an integrated, holistic conceptual model of the intention–behaviour gap of ethically minded consumers. This holistic conceptual model addresses significant limitations within the ethical consumerism literature, and moves the understanding of ethical consumer behaviour forward. Further, the operationalisation of this model offers insight and strategic direction for marketing managers attempting to bridge the intention–behaviour gap of the ethically minded consumer.     

The Michigan Circuit Breaker and its Impact on the Incidence of the Property Tax

A bstract . In the absence of any program of property tax relief , the relationship between homestead property values and household incomes in Michigan introduces an inherent bias towards regressivity into the property tax. Analysis of a sample of 15,620 owner-occupied households showed a tax relief program, called the Michigan Circuit Breaker , and in particular the special relief afforded to taxpayers 65 and over ( senior citizens ), to be highly effective in reducing this inherent regressivity in the tax. As a result of the circuit breaker, this tendency towards regressivity in the property tax is effectively offset to the extent of producing near proportionality in the incidence of the tax as applied to owner-occupied housing.     

Healthcare resource utilization and costs in patients with newly diagnosed acute myeloid leukemia

Abstract

Aim: Acute myeloid leukemia (AML) is associated with high disease burden. This analysis estimated HRU and costs among newly diagnosed AML patients in a US commercially insured population.

Materials and methods: This was a retrospective observational study using the IMS Health PharMetrics Plus and Hospital Charge Detail Master databases. Patients included adults who were newly diagnosed with AML between January 2007 and June 2016 (“study period”). Patients with <12 months of continuous enrollment prior to the index date were excluded, as were those whose first diagnosis was AML in remission/relapse, those diagnosed with acute promyelocytic leukemia, those on Medicare supplemental insurance, or those with a diagnosis of AML in remission/relapse without evidence of treatment during the study period. Patients were stratified by receipt of AML treatment (chemotherapy/hematopoietic cell transplantation [HCT]), and their follow-up was partitioned into initial, remission, and relapsed health states. Mean HRU and costs were tallied by treatment and, for treated patients, by health state and time since entry into health state (≤6 vs >6 months).

Results: A total of 9,455 patients met study criteria, including 6,415 (68%) treated and 3,040 (32%) untreated patients, with mean follow-up of 18.3 and 16.4 months, respectively. Mean age was 55 years in treated patients and 60 years in untreated patients. Mean total costs per patient were $386,077 in treated patients and $79,382 in untreated patients. For treated patients, 60% of total costs ($231,867 per patient) were incurred during the initial health state, representing time without remission/relapse. Mean monthly total healthcare costs were $21,055 and $4,854 among treated and untreated patients, respectively.

Limitations and conclusions: HRU and costs of managing AML patients are substantial. In treated patients, the majority of costs were incurred during the initial treatment period, without claims indicating remission/relapse.