The formation and evolution of childhood skill acquisition: Evidence from India

Building on recent advances in the literature and using a rich data set for two cohorts of children aged between one and twelve for Andhra Pradesh, India, we investigate the determinants of children's cognitive as well as non-cognitive skills. We find evidence of self-productivity for cognitive skills and cross-productivity effects from cognitive on non-cognitive skills. Moreover, we demonstrate that parental investment has contemporaneously positive effects on skill levels for all age groups. Investigating other determinants of these skills, we find child health at age one to influence cognitive abilities at age five, whilst child health at age one is influenced by parental care already during pregnancy and earliest childhood. Understanding the determinants which account explicitly for the effect of a large number of child, caregiver and household characteristics provides insights with regard to possible policy interventions to improve the chances of children in poor environments of developing cognitive and non-cognitive skills crucial for success in many spheres of life.     

The case of the ECB: Better to lean against the wind than to fight a hurricane

In the light of the recent financial crisis, the ECB has announced a slight shift in the reading of its monetary policy strategy and acknowledges that the case for a “leaning against the wind” strategy has strengthened. This implies that now, more than ever, the ECB is willing to dampen asset bubbles in the early stage of their formation. This article explains what the ECB can learn from historical asset bubbles in EU eurozone member countries. The empirical analysis indicates that asset bubbles in some member countries are mostly followed by asset bubbles in further member countries, which supports the ECB’s current reading of its monetary policy strategy.     

Forecasting U.S. car sales and car registrations in Japan: Rationality, accuracy and herding

We analyze forecasts of car sales in the U.S. and forecasts of car registrations in Japan. We document a substantial heterogeneity of forecasts, and we show that, based on traditional criteria, forecasts are neither rational nor unbiased. We also report that forecasters anti-herd, that is, forecasters seem to intentionally scatter their forecasts around a consensus forecast. We further show that cross-sectional heterogeneity of forecasts with regard to anti-herding transmits onto cross-sectional heterogeneity of forecast accuracy. Specifically, we document that forecasters who herd provide more accurate forecasts than their colleagues who anti-herd.     

The role of venture capitalist to enhance the growth of Spanish and Italian university spin-offs

The establishment of spin-offs to commercialise university knowledge/technology is a potential mechanism to promote economic and innovative development. Nevertheless, University Spin-Offs (USOs) are usually resource-constrained, especially in obtaining funding, limiting their growth. Venture Capital (VC) investors play an important role in the financing and the improvement of their managerial skills, which are critical for firm growth. This paper aims to explore both the effect of VC partners on the USOs’ growth and the cross-national differences in the role played by them. To study both issues, we empirically analysed 516 Spanish and 904 Italian USOs created by 50 Spanish and 57 Italian universities, respectively, and observed them between 2005 and 2013. The results showed different effects in the Spanish and Italian cases. While in Spain the presence of VC partners positively affects the USOs’ growth, in Italy there is not a significant effect. This evidence calls for systematic policies by public administrations and universities to foster USO growth.     

Short-haul city travel is truly environmentally sustainable

With rising interest in and concern about climate change and environmental sustainability, and the significance of the tourism industry worldwide, the impact of tourism-related activities and behaviors on the environment has become a key area of research. In particular, transport related to tourism has come under scrutiny for its contribution to the ecological footprint of tourism of a destination, mostly accounted for by the dominance of air travel. This study contributes to research in this area by identifying the types of travel situations in which tourists make environmentally friendly choices about travel modes and, consequently, which types of tourism destinations should seek to develop and promote in order to minimize the environmental impact of the tourist sector on both an individual destination and global scale.     

Customer experience management: toward implementing an evolving marketing concept

Although research continues to debate the future of the marketing concept, practitioners have taken the lead, appraising customer experience management (CEM) as one of the most promising marketing approaches in consumer industries. In research, however, the notion of CEM is not well understood, is fragmented across a variety of contexts, and is insufficiently demarcated from other marketing management concepts. By integrating field-based insights of 52 managers engaging in CEM with supplementary literature, this study provides an empirically and theoretically solid conceptualization. Specifically, it introduces CEM as a higher-order resource of cultural mindsets toward customer experiences (CEs), strategic directions for designing CEs, and firm capabilities for continually renewing CEs, with the goals of achieving and sustaining long-term customer loyalty. We disclose a typology of four distinct CEM patterns, with firm size and exchange continuity delineating the pertinent contingency factors of this generalized understanding. Finally, we discuss the findings in relation to recent theoretical research, proposing that CEM can comprehensively systemize and serve the implementation of an evolving marketing concept.     

Chamberlin Meets Ciriacy‐Wantrup: Using Insights from Experimental Economics to Inform Stated Preference Research

Many studies that use stated preference (SP) surveys to estimate the demand for private or public goods can be characterized as experiments, although they are not routinely labeled as such. This paper draws from the broader experimental economics literature to provide insights for SP practitioners and researchers, particularly as it pertains to survey development, mechanism design, external validity, data analysis, and the dissemination of findings.