The Effect of Risk Context on the Value of a Statistical Life: a Bayesian Meta-model

This paper presents the first value of statistical life (VSL) meta-analysis that empirically estimates correction factors for ‘out of context’ benefits transfer (BT) purposes. In the field of mortality risk reductions elicited willingness to pay values in one risk context, say road safety, are frequently applied in other risk contexts like air pollution. However, differences in risk perception and the population at risk across contexts are likely to result in diverging VSL estimates. In a meta-analysis of 26 international stated preference studies, a Bayesian model is estimated regressing contingent values for mortality risk reductions, originating from three different risk contexts, on the characteristics of the risk reduction itself and additional variables characterizing the underlying studies. A willingness to pay (WTP) premium for mortality risk reductions in the air pollution and general mortality risk context relative to improving road safety is observed. Evaluated at the mean, road safety VSL estimates should be multiplied by a factor 1.8 before being applicable in the air pollution context. Moreover, in an illustrative BT exercise we find limited overlap in the set of context specific predictive VSL distributions. Consequently, ‘out of context’ BT results in a substantial over- or underestimation of the VSL.     

Mapping global sustainability report scoring: a detailed analysis of Europe and Asia

This study maps the General Reporting Initiative (GRI) relations for a set of global enterprises. Enterprise interrelationships are built using the Mutual Information (MI) of the data reported by enterprises. From the MI topology, we describe interrelationships among the enterprises using chord diagrams to represent the inter- and intra-connectivity between geographical regions and economic sectors globally, by continent and country. Detailed maps are presented for European and Asian regions/sectors, including the relationship between Europe and Asia’s top reporting countries. Our findings reinforce previous research regarding the role of Europe as a driver of sustainability and its influence worldwide. We also determined that Spain is a major player in Europe and that Northern Europe does not have the assumed leading role mentioned in related studies. Eastern Asia is, by far, the leader of the region, and the GRI maps demonstrate the preponderant role of China in the region and the minimal role of India. MI topology maps outline the behavior of the economic sectors, for all the studied regions. Furthermore, a measure that relates the inter- to intra-connections is presented to describe the internal an external relationships among regions/sectors.     

Belonging,believing, bonding,and behaving: the relationship between religion and business ownership at the country level

This cross-country study adopts a competing theories approach in which both a value perspective and a social capital perspective are used to understand the relation between religion and a country’s business ownership rate. We distinguish among four dimensions of religion: belonging to a religious denomination, believing certain religious propositions, bonding to religious practices, and behaving in a religious manner. An empirical analysis of data from 30 OECD countries with multiple data points per country covering the period 1984–2010 suggests a positive relationship between religion and business ownership based on those dimensions that reflect the internal aspects of religiosity (i.e., believing and behaving). We do not observe a significant association for those dimensions that reflect more external aspects of religion (i.e., belonging and bonding). These results suggest that the social capital perspective prevails the value perspective, at least when internal aspects of religiosity are concerned. More generally, our study demonstrates the importance of distinguishing between different dimensions of religion when investigating the link between religion and entrepreneurship.     

Is group selection necessary? An alternative interpretation of homogeneous Middleman groups: Comments on Janet Landa’s paper

This article critiques the efforts by Janet Landa, David Sloan Wilson and others to use group selection paradigms to explain the success of homogenous middlemen groups (HMGs). It argues that group selection theory cannot explain the conflicts of interests that arise within HMGs or why they dissolve in certain occasions. Landa’s earlier explanations, which stressed the combination of genetic (kinship) and social bonds in the creation of trust and cooperation in the extension of credit and the creation of local public goods, better predicts both the strength and weaknesses of HMGs.      

Exclusions of infertility treatment in the aftermath of Bragdon v. Abbott

This article analyzes the Supreme Court's decision in Bragdon v. Abbott to determine whether the Court's reading of ADA necessarily leads to the conclusion that a group health plan's or insurer's exclusion or limitation of coverage with respect to infertility is prohibited by ADA. The authors conclude that it may be advisable for plans to perform at least minimal actuarial calculations with respect to the current or anticipated costs of covering infertility treatments prior to adopting any exclusions or limitations of coverage.     

Global and regional inequality in the distribution of income: Estimation with limited and incomplete data

The paper examines the nature and extent of global and regional inequality using the most recent country level data on inequality drawn from World Bank studies, and real per capita income from the Penn World Tables, for the period 1980–1990. The methodology employed in the paper is based on a mixture of parametric and non-parametric approaches to inequality measurement. It is designed to handle the limited and incomplete nature of income distribution data from different countries. Empirical results show a very high degree of global inequality, but with some evidence of catch-up and convergence between regions.     

Making study abroad a reality for all students

One of the most widely discussed and highly agreed upon curricular issues for business and economic programs is the need to integrate international topics into the curriculum. Evidence indicates that little progress has been made in achieving this objective. To ignite the process of internationalizing the curriculum, a departmental study abroad program, based on the experience of Niagara University and Schiller International University, is proposed. Unlike most study abroad models, this approach systematically links the curricula of the host and domestic institutions. Faculty, who on most campuses are largely bystanders in the study abroad process, now assume a central role. This approach makes study abroad a major campus focus and a source of faculty development in international topics.     

Building internal business scenarios based on real data from a performance measurement system

This paper presents a new methodology to build internal business scenarios from the data gathered by some key performance indicators (KPIs) defined within a performance measurement system. The application of the principal components analysis technique leads to the identification of latent relationships between KPIs that underlies some important business aspects. Further, this methodology allows to represent not only the temporal evolution of the organisation as a function of these business aspects but also the definition and determination of internal business scenarios, being therefore the source of meaningful managerial information. At the end of the paper, results of a practical application are presented and discussed, as well as their importance for the organisation from a decision making point of view.