Cheaper and More Haircuts After VAT Cut? Evidence from the Netherlands

We study the effect of the reduction in the VAT rate on hairdresser services from 17.5 to 6% in the Netherlands in January 2000. Following Kosonen (J Public Econ 131:87–100, 2015), we use differences-in-differences to estimate the effects of this reform, with beauty salons as the main control group. In our preferred specification, we find close to full pass-through of the VAT cut into lower prices. However, we find no statistically or economically significant effect on the volume of sales or employment.     

What if Variable Annuity Policyholders With Guaranteed Lifelong Withdrawal Benefit Were Rational?

This article examines the lapse risk inherent to the guaranteed lifelong withdrawal benefit option embedded in a variable annuity product valuated from a pure derivatives perspective, that is, as a Bermudian option given to the policyholder. We assume rational behavior and quantify the potential impact of the lapse risk, defined as the difference between no lapse and optimal lapsing. We develop a sensitivity analysis that shows how the value of the product varies with the key parameters, and calculate the fair fee using Monte Carlo simulations. Empirical analyses are performed and numerical results are provided.     

Coalitional fairness in interim differential information economies

In this paper we propose a concept of coalitional fair allocation in order to solve the tension that may exist between efficiency and envy-freeness when agents are asymmetrically informed and the equity of allocations is evaluated at the interim stage.     

The Aubin private core of differential information economies

Abstract We establish characterizations of Radner equilibrium allocations via private core notions in the framework of differential information economies with a finite number of states of nature and a measure space of agents that may have atoms. The commodity space is an ordered separable Banach space whose positive cone admits an interior point. We introduce the notion of Aubin private core and prove that it provides a characterization of Radner equilibrium allocations. We show that the Aubin private core is equivalent to Edgeworth private equilibria and to privately non-dominated allocations of suitable associated economies. Mathematics Subject Classification (2000): 91B50, 91B44 Journal of Economic Literature Classification: D51, D82, D11     

A case-control study on risk factors of domestic accidents in an elderly population

The aim of this study was to evaluate the combined influence of several lifestyle, health and housing factors in the occurrence of home injuries (HIs) among the elderly. The subjects were recruited from 10 hospitals in Rome, Italy. This study is a paired case-control study. Cases included subjects, aged 65-85 years, who visited the Emergency Department for an HI and were subsequently hospitalised (15 September 2004-30 June 2005). Controls were the subjects of the same gender, age (±3 years) and area of residence of cases. A conditional logistic regression model was used for analysing the variables obtained. In this study, we enrolled 107 hospitalised cases. It was found that the living room was the place where 33% of the accidents occurred. Eighty-seven per cent of the accidents were falls, and 33% of the accidents were the immediate consequence of sudden malaise. One-half of the cases reported one or more leg fractures. The variables that were independently associated with HI were poor household illumination, poor emotional status, regular physical activities and housekeeping activities. We conclude that this study shows the areas of intervention to target HI prevention activities.     

Towards a framework for dynamic technology strategy

This paper attempts to set up a framework for formulating a dynamic technology strategy. Competitive enviroments are increasingly dynamic, and this makes traditional methodologies and approaches to the strategy obsolete or inadequate. Empirical research has been conducted on the technology strategy process of three large companies operating in highly dynamic and technology-intensive environments. On the basis of the results of this, the authors attempte to put forward a framework which should help firms to conceive their technology strategy.