The M/M\1 queue in a heavy-tailed random environment

We consider an M / M /1 queue with the special feature that the speed of the server alternates between two constant values s_L and s_H > s_L . The high-speed periods are exponentially distributed, and the low-speed periods have a regularly varying distribution. We obtain explicit asymptotics for the tail of the workload distribution. The two cases in which the offered traffic load is smaller respectively larger than the low service speed are shown to result in completely different asymptotics.     

Evidence on inflation–output trade-off in developing and industrial countries

This paper subjects Lucas's output–inflation trade-off study to further empirical investigation. The cross-country study divides the 111 countries covered into 90 developing countries and 21 advanced countries. Lucas's proposition is that volatility of aggregate demand growth should reduce the impact of aggregate demand growth on the cyclical output and the implication of this is that there is no output–inflation trade-off in line with the natural rate theory. We employ annual data over periods that fall between 1958 and 1985 in order to conduct the test. Our findings suggest that Lucas's proposition is valid for developed economies but not for developing economies.     

Research into the motives and factors of investment activities of enterprises (by the example of companies in the Volga Federal District)

In the paper, the results of research into the determinants of the incremental investments of companies in the Volga Federal District (based on microeconomic data) are given. The paper is a continuation of the topic raised in the theoretical article of academician A.D. Nekipelov [1] on the motives of a company’s activities in a market economy. In this publication, the applied aspects of the problem are emphasized: on the one hand, the motivations and factors of a company’s activities (growth rates of the value of its fixed assets,noncurrent and total assets) and, on the other hand, an evaluation of the impact on the investment expenditures of factors, such as profitability, financial leverage, lag value of the growth in revenues, credit risk level, age, and the size and activity type of a company. Quantitative evaluations were obtained by using tobit models as applied to a sampling of panel data for 2001–2011 from the 500 largest nonfinancial companies in the Volga Federal District.     

Prediction of injury risks to workers employed in municipalities of the Udmurt Republic

The article presents a technique and mathematical model to predict injury risks to workers of the Udmurt Republic’s municipalities.     

Relation of Uncertainty in Fluctuations of Energy Commodity Demand and Prices to Forecasting Timeframe

Several Russian and foreign forecasts of energy industry development have been analyzed that were made in various years for up to 20–25 years. The extent and type of temporal variations in uncertainty ranges of forecast indexes in Russia and worldwide have been studied. The indexes include fluctuations of energy commodity prices, electricity and fuel production and consumption, etc. The calculated data have been given. The relations of uncertainty ranges of different indexes to the change in the considered timeframe have been constructed.     

EVIDENCE ON THE RELATIONSHIP BETWEEN ECONOMICS AND CRITICAL THINKING SKILLS

This research provides empirical support for the hypothesis that learning economics increases a student's critical thinking skills. Using the short form of the Watson-Glaser Critical Thinking Appraisal (WGCTA-S) as our measure of critical thinking skills, we find that students who gain a high level of economic understanding in their introductory economics class, as measured by the Test of Understanding College Economics (TUCE), have statistically significant gains in their WGCTA-S scores. Students who spend more time taking classes and are more fully engaged in the university experience also have greater gains in critical thinking. These results lend support to the idea that introductory economics courses can work in concert with other university level courses, especially within the context of a full-time curriculum, to enhance critical thinking skills. ( JEL A22)     

The Performance Effect of Feedback Frequency and Detail: Evidence from a Field Experiment in Customer Satisfaction

This paper presents the results from a field experiment that examines the effects of nonfinancial performance feedback on the behavior of professionals working for an insurance repair company. We vary the frequency (weekly and monthly) and the level of detail of the feedback that the 800 professionals receive. Contrary to what we would expect if these professionals conformed to the model of the Bayesian decision maker, more (and more frequent) information does not always help improve performance. In fact, we find that professionals achieve the best outcomes when they receive detailed but infrequent (monthly) feedback. The treatment groups with frequent feedback, regardless of how detailed it is, perform no better than the control group (with monthly and aggregate information). The results are consistent with the information in the latest feedback report being most salient and professionals in the weekly treatments overweighting their most recent performance, hampering their ability to learn.     

Assessment of the impact of human capital on economic growth

This paper presents updated figures on the dynamics of human capital in the Russian economy. Time series of human capital are obtained for major types of economic activity that cover up to 85–90% of the total human capital in the Russian economy for 1992–2012. An analysis of the impact of accumulated human capital on economic dynamics is performed by means of the production function model. An original approach to assessing the production function based on the method of principal components is introduced.