A Comparative Study of Radio Audience Measurement Methodology

Little published research exists to guide self-regulators in their evaluation of advertising directed to children. Academic researchers have principally studied the effects of advertising upon children, rather than children's perceptions of specific commercials and ads. Research on such questions as fantasy, using famous presenters, scale disclosures and disclaimers would undoubtedly show age-related differences of perception. This might call into question the advertisers' responsibilities to the pre-school, pre-literate child. The situation is more complex when the advertiser seeks to address older children at times when younger children are also watching. Research will never satisfy the critics, but industry and self-regulators should pursue the question of how children perceive advertising.     

Estimating profit efficiency among South African retail firms using stochastic frontier approach

This paper analyses profit efficiency of selected retail firms in South Africa over the 2005–2006 period. A stochastic frontier analysis method is used. The 24 retail firms covered are ranked in terms of their efficiency performance over this period. Their efficiencies have also been tracked over time. Approximately 50% of the firms are estimated to have profit efficiency estimates higher than the average estimated for the sampled firms. The top 10 firms are performing significantly better than the average profit efficiency of 0.39. The profit efficiency of the top three firms is more than double the observed average profit efficiency performance of the sampled retail firms. However, the bottom 50% of the retail firms has performed poorly.     

Technology usage lags

We present evidence on the differences in the intensity with which ten major technologies are used in 185 countries across the world. We do so by calculating how many years ago these technologies were used in the U.S. with the same intensity as they are used in the countries in our sample. We denote these time lags as technology usage lags and compare them with lags in real GDP per capita. We find that (i) technology usage lags are large, often comparable to lags in real GDP per capita, (ii) usage lags are highly correlated with lags in per-capita income, and (iii) usage lags are highly correlated across technologies. The productivity differentials between the state-of-the-art technologies that we consider and the ones they replace, combined with the usage lags that we document, lead us to infer that differences in the intensity of usage of technologies might account for a large part of cross-country TFP differentials. The views expressed in this paper solely reflect those of the authors and not necessarily those of the National Bureau of Economic Research, Federal Reserve Bank of San Francisco, nor those of the Federal Reserve System as a whole. This research was completed when Emilie Rovito was an economist at the Federal Reserve Bank of New York. We appreciate the financial assistance of the NSF (Grants # SES-0517910 and SBE-738101) and the C.V. Starr Center for Applied Economics. We would like to thank Mark Bils, Hitesh Makhija, Andres Rodríguez-Clare, Romain Wacziarg, and Matt Wiswall for comments and suggestions.     

Cost-effectiveness analysis of ocrelizumab versus subcutaneous interferon beta-1a for the treatment of relapsing multiple sclerosis

Aim: To conduct a cost-effectiveness analysis to compare ocrelizumab vs subcutaneous (SC) interferon beta-1a for the treatment of relapsing multiple sclerosis (RMS).

Methods: A Markov cohort model with a 20-year horizon was developed to compare ocrelizumab with SC interferon beta-1a from a US payer perspective. A cohort of patients with relapsing-remitting MS (RRMS) and Expanded Disability Status Scale (EDSS) scores of 0–6, who initiated treatment with ocrelizumab or SC interferon beta-1a, were entered into the model. The model considered 21 health states: EDSS 0–9 in RRMS, EDSS 0–9 in secondary-progressive multiple sclerosis (SPMS), and death. Patients with RRMS could transition across EDSS scores, progress to SPMS, experience relapses, or die. Transition probabilities within RRMS while patients received ocrelizumab or SC interferon beta-1a were based on data from the two SC interferon beta-1a-controlled Phase III OPERA I and OPERA II trials of ocrelizumab in RMS. Transitions within RRMS when off-treatment, RRMS-to-SPMS transitions, transitions within SPMS, and transitions to death were based on the literature. Utilities of health states, disutilities of relapses, costs of therapies, and medical costs associated with health states, relapse, and adverse events were from the literature and publicly available data sources. The model estimated per-patient total costs, incremental cost per life year (LY) gained, and incremental cost per quality-adjusted LY (QALY) gained. Deterministic sensitivity analyses (DSA) and probabilistic sensitivity analysis (PSA) were conducted to evaluate the robustness of the model results.

Results: Ocrelizumab was associated with a cost savings of $63,822 and longer LYs (Δ?=?0.046) and QALYs (Δ?=?0.556) over a 20-year time horizon. The results of the model were robust in the DSA and PSA.

Limitations: The model did not consider subsequent treatments and their impact on disease progression.

Conclusions: The results suggest that ocrelizumab is more cost-effective than SC interferon beta-1a for the treatment of RMS.     

The growth effect of trade openness on African countries: Evidence from using an instrumental variable panel smooth transition model

This paper assesses the relationship between trade openness and economic growth in Africa by accounting for the heterogeneity of African countries. In addition, the paper contributes to the literature on trade openness and economic growth nexus by applying the instrumental variable panel smooth transition regression, a methodology that accounts for nonlinearity and endogeneity in the relationship between the two variables. The results of the empirical analysis reveal that the investment ratio is a channel through which trade openness affects economic growth in the African continent. In addition, the relationship between trade openness and economic growth varies according to the degree of a country's development in Africa. The study finds a negative relationship between openness and growth in low-income countries. Conversely, for upper-income countries, the coefficients of trade indicators are positive and statistically significant. The results indicate that African countries are not homogeneous, especially concerning trade openness and economic growth nexus.     

Dual aspects of mantle convection through time: Changes in global upper mantle temperature,Earth’s rotation,and global plate motion acceleration induced by mantle avalanches

We use modern and novel techniques to study the problems associated with detection and analysis of multitudinous seismic events, which form the background for isolated great earthquakes. This new approach involves multivariate analysis of low and large magnitude events recorded in space over a couple of centuries in time. We propose here the deployment of the clustering scheme both for extracting small local structures and large-scale trends in synthetic data obtained from four numerically simulated models with: uniform properties (U), a Parkfield-type asperity (A), fractal brittle properties (F), and multi-size-heterogeneity fault zone (M). The mutual nearest neighbor (mnn) clustering scheme allows for extraction of multi-resolutional seismic anomalies in both the spatio-temporal and multi-dimensional feature space. We demonstrate that the large earthquakes are correlated with a certain pathway of smaller events. Visualization of the anomalies by using a recently introduced visualization package Amira reveals clearly the spatio-temporal relationships between clusters of small, medium and large earthquakes, indicating significant stress relaxation across the entire fault region. We demonstrate that this mnn scheme can extract distinct clusters of the smallest events, which precede and follow a singularly large magnitude earthquake. These clusters form larger spatio-temporal structures comprising a series of large earthquakes. The link between the large and medium magnitude events is not so clearly understood. Short-ranged correlations are dominated by strong spatio-temporal anomalies, thus reflecting the global seismic properties of the entire fault zone.     

Corporate divestitures and family control

This paper investigates the relationship between divestitures and firm value in family firms. Using hand‐collected data on a sample of over 30,000 firm‐year observations, we find that family firms are less likely than non‐family firms to undertake divestitures, especially when these companies are managed by family rather than non‐family‐CEOs. However, we then establish that the divestitures undertaken by family firms, predominantly those run by family‐CEOs, are associated with higher post‐divestiture performance than their non‐family counterparts. These findings indicate that family firms may fail to fully exploit available economic opportunities, potentially because they pursue multiple objectives beyond the maximization of shareholder value. These results also elucidate how the characteristics of corporate owners and managers can influence the value that firms derive from their corporate strategies. Copyright © 2014 John Wiley & Sons, Ltd.     

A systemic approach to interpersonal relationships and activities among French teleworkers

Within a systemic and interactional approach, this study seeks to understand how French teleworkers (re)organise their relationships with others as well as their activities. Lexical analysis of interviews with 24 telecommuters (nomadic, alternating and working at home full‐time) confirms and complements the results in the literature in this field. On one hand, the findings confirmed a decline in the quality of professional relationships due to their being mediated through technology. On the other hand, there was a distinction between the ways in which different types of teleworkers ascribed meaning and adapted their activities and business, family and social relationships.