MODELING MOVEMENTS IN INDIVIDUAL CONSUMPTION: A TIME‐SERIES ANALYSIS OF GROUPED DATA

We characterize the time‐series properties of group‐level consumption, income, and interest rates using microdata. We relate the coefficients of moving average representations to structural parameters of theoretical models of consumption behavior. Using long time series of cross sections to construct synthetic panel data for the United Kingdom, we find that for high‐educated individuals the Euler equation restrictions are not rejected, the elasticity of intertemporal substitution is higher than one, and there is evidence of “excess smoothness” of consumption. Low‐educated individuals, conversely, exhibit excess sensitivity of consumption to past income, and the elasticity of intertemporal substitution is not statistically different from zero.     

A Vicarious Innovativeness Scale for 3G Mobile Services: Integrating the Domain Specific Innovativeness Scale with Psychological and Rational Indicators

The paper aims to validate a vicarious innovativeness scale for its usefulness in understanding and predicting third generation (3G) mobile services acceptance. Illustrations are based on a survey of 150 young people, and structural equation modelling techniques were used to analyse the data. In this paper: (1) the relevant literature is reviewed; (2) a theoretical framework is built, and hypotheses proposed based on consumer innovativeness theory; (3) the results of an empirical survey designed to test these hypotheses are presented; and (4) it concludes with a general discussion and proposed directions for future research. In this study, the psychometric characteristics and criterion (predictive) validity of the scale are evaluated in order to support claims that domain specific innovativeness scale integrated with psychological and cognitive items could be used to research this domain of consumer behaviour. Evidence for a unidimensional measure of vicarious innovativeness is provided.     

(Un)expected retirement and the consumption puzzle

In this work we revisit the retirement consumption puzzle using Italian panel data. As emphasised in the literature, the observed consumption drop might be due to unexpected wealth shocks at retirement which modify optimal consumption plans. Using an Euler equation approach, we test the impact of unexpected retirement on the consumption patterns of individuals around the age of retirement by using the panel component of the Survey of Household Income and Wealth (SHIW). This dataset contains information on the expected age of retirement which can be used to distinguish between expected and unexpected retirement. Furthermore, we investigate the heterogeneous behaviour of individuals with different levels of education and wealth. We find evidence of a consumption drop at retirement especially for low educated people and individuals with little wealth. The consumption drop at retirement, on average, does not seem to be a response to unexpected retirement. Disaggregating our sample, we find that the consumption drop persists among low educated people with little wealth available, irrespective of whether retirement was expected or not. Highly educated people, conversely, do smooth their consumption, unless they have low wealth and are hit by an unexpected shock at retirement in which case they are forced to drop consumption.     

Building responses to sustainable development challenges: A multistakeholder collaboration framework and application to climate change

The affirmation of open innovation and collaborative systems is enabling unprecedented opportunities to create business value while facilitating multistakeholder conversation on sustainability issues. In particular, platform‐based models are emerging as organization archetypes able to facilitate cooperative dynamics among industrial actors, policy makers, academicians, scientists, and citizens. In this article, we use interdisciplinary business management and collaborative innovation literature to build the conceptual framework of a multisided platform as a collaboration environment gathering actors willing to define responses to sustainable development challenges. We present five dimensions or “genes,” that is, the focus and strategic intent or orientation of the platform (what), the participating sides, actors and groups (who), the actions, flows and coordination mechanisms (how), and the value drivers, benefits and externalities (why), and the rules regulating the affiliation and interaction processes (governance). We also present and discuss 30 subtopics or management items that are associated with the five dimensions defined. We then apply the conceptual model to analyze a case in the climate change endeavor and to show how competitive and cooperative dynamics can be virtuously integrated to provide individual‐ and company‐driven responses to a timely socioenvironmental issue. The article provides a new perspective on collaboration to enhance social development, and it offers theoretical and practitioner insights for a broad interdisciplinary audience including scholars, practitioners, business, and platform managers.     

Formation of Migrant Networks

In this paper, we provide the first direct evidence on the internal structure of the migrant social network. By using a purposely designed survey on Sri Lankan immigrants living in Milan, we show that the pattern of within‐group link formation is heterogeneous across immigrants, and differentiated according to the network function (i.e., accommodation, credit, job‐finding). We find that migrants tend to interact with co‐nationals who come from nearby localities at origin, while the time of arrival has a U‐shaped effect. Once the link is formed, material support is provided mainly to relatives, while early migrant fellows are helpful for job‐finding.     

Salaried employment and earnings in Indonesia: new evidence on the selection bias

This article uses household survey data to estimate the determinants of earnings in Indonesia, a country where nonsalaried work is widespread and earnings data are available for salaried employees only. We deal with the selection bias by estimating a Full-Information Maximum Likelihood (FIML) system of equations, where selection into the labour market is modelled in a multinomial setting. We find that some estimated parameters of the earnings equation differ from a binomial selection procedure by Heckman (1979 Heckman, J. 1979. Sample selection bias as a specification error. Econometrica, 47: 153–61. [Crossref], [Web of Science ®] , [Google Scholar]), in particular for those variables with the strongest impact on the selection into the different labour-market statuses. However, the estimated returns to education are unaffected, even when we deal with the endogeneity of educational attainment following Duflo (2001 Duflo, E. 2001. Schooling and labour market consequences of school construction in Indonesia: evidence from an unusual policy experiment. American Economic Review, 91: 795–813. [Crossref], [Web of Science ®] , [Google Scholar]). Overall, our findings show that the choice of the selection rule affects the estimates of the earnings determinants in the Indonesian labour market.     

Location-based services and tourism: possible implications for destination

Location-based services (LBS) are applications that concern all services linked to geographical location. This concept is based on the localisation of people, services, amenities and all attractions linked to a tourism destination. With the development of mobile communication, LBS have become a new means of communication and promotion. This recent development is not still wholly expressed and may be a new means to promote and live the tourism experience, either before or during the experience itself. In tourism, LBS can help in finding new way to promote all tourism services. Moreover, LBS also lead the concept of augmented reality, which is the overlapping of information levels. However, LBS may also be used as substitute good of tourism and, therefore, LBS may even be considered as a threat for the tourism industry. The whole tourism experience may be enhanced or obstacle by LBS. This paper investigates first of all what LBS are and how they can affect business in general (and tourism destination in particular). Second, we would like to investigate how LBS may be useful for all tourism services, particularly in promoting and suggesting any kind of local services. Finally some conclusions are drawn.     

Entry and innovation: an analysis of the fabless semiconductor business

The relationship between pre-entry experience and patenting for a sample of 133 firms active in the fabless semiconductor business between 1984 and 2005 is studied. Controlling for variables such as venture capital, post-entry experience and parent involvement in the creation of the new venture, it is found that firms with better educated founders have a higher hazard to patent soon after entry. Additionally, firms whose founders have a longer tenure in the parent firm have a relatively higher hazard of patenting. Finally, firms whose founders have innovated in the past are more likely to innovate. Results suggest that both general and specific human capital are important preconditions of pre-entry experience.     

Quality and Quantity in Test Validity: How can we be Sure that Psychological Tests Measure what they have to?

During the twentieth century, many authors have offered their contributions to the controversial subject of test validity. Thus, the concept of validity seems to be quite a simple idea until one looks at the literature on the subject. Validity can be defined as “the degree to which the test actually measures what it purports to measure,” but the question of how to define validity and how to test it is both an old question and a never-ending story. We have to deal with it every time we are asked to use a test that already exists or to construct a new one. Therefore, the article aims at dealing with test validity in order to point out the different (qualitative and quantitative) aspects of validity, which have emerged from empirical research and theoretical reflections. It is thought as a critical review which can be useful both to theoretically oriented and practically inclined psychologists.     

Assessing the maturity of crowdventuring for corporate entrepreneurship

Corporate entrepreneurship is a process of strategic renewal and development of an existing business through the creation of new products, services, and activities, as well as new competitive postures and independent ventures. The performance of this process, which leverages the creativity and the initiative spirit of employees and managers, thus relies on the capacity of the organization to create favorable conditions for the emergence of such latent entrepreneurial potential. The development of participatory innovation models and collective intelligence offers new insights for conducting research on factors enabling corporate entrepreneurship. In particular, the internal company ‘crowd’ can be investigated with the purpose of studying the conditions under which the corporate entrepreneurship process can be successfully nurtured and conducted. In such view, this article moves from an extended review of corporate entrepreneurship and organizational innovation literature to define the concept of crowdventuring and to present an assessment tool aimed at evaluating the maturity of the crowdventuring process within an organization. The tool, which captures both individual and organization-related factors, is also used for an illustrative application into a multinational IT company. Some implications are drawn at the theory and practitioner levels.