Ridge regression and its degrees of freedom

For ridge regression the degrees of freedom are commonly calculated by the trace of the matrix that transforms the vector of observations on the dependent variable into the ridge regression estimate of its expected value. For a fixed ridge parameter this is unobjectionable. When the ridge parameter is optimized on the same data, by minimization of the generalized cross validation criterion or Mallows \(\hbox {C}_{L}\) , additional degrees of freedom are used however. We give formulae that take this into account. This allows of a proper assessment of ridge regression in competitions for the best predictor.     

Fully Mature but Not Fully Legitimate: A Different Perspective on the State of Entrepreneurship Education*

This article seeks to demonstrate that the field of entrepreneurship/small business can be characterized as fully mature, a view contrasting one proposed by Kuratko. Evidence of the achievement of full maturity and marginal legitimacy is given based on benchmarks in the development of the field. In addition, this article adds additional support to the concept of partial legitimacy on which Katz and Kuratko agree. Building from these analyses, a theoretical life cycle model for the growth of disciplines in general is offered, using entrepreneurship as the example. The major consequence of entrepreneurship's full maturity is identified as the growing centrality of the business‐school based discipline of entrepreneurship in relation to the emerging entrepreneurship efforts across campuses, and the implication of this centrality for the discipline of entrepreneurship is discussed.     

La segregación ocupacional por horas de trabajo en Europa

En este artículo se cuantifican los niveles de segregación ocupacional entre el trabajo a tiempo parcial y a tiempo completo según los datos de la Encuesta Europea de Población Activa para quince países europeos, tratando de identificar algunos determinantes de la segregación mediante un análisis de regresión con tres grupos de indicadores (cantidad de empleo, calidad del empleo y factores institucionales). Por lo general, la segregación ocupacional por horas de trabajo es más alta para los hombres que para las mujeres y más alta para los trabajadores jóvenes que para los adultos. Así como entre los hombres la segregación se correlaciona solamente con la cantidad de empleo, en el caso de las mujeres adultas y los trabajadores jóvenes inciden variables asociadas a los tres grupos de indicadores.     

Employee shareholders in two privatised utilities

This article draws on a survey of over 400 employees in two privatised companies. It examines the relationship between the depth of share ownership and social class and prior political orientations, and suggests that employee attitudes are best understood as a function of these standard sociological factors.     

The Israeli teacher-guide: The emergence and perpetuation of a role

The Israeli teacher-guide performs functions associated with tiyulim—special walks in Israel aimed at the promotion of getting to know one's native country, which are organized by public, non-commercial agencies. The Israeli teacher-guide is socially defined as an agent of education and culture rather than of leisure and entertainment. Most of his role performances are carried out during walks with various groups of casual participants. During these walks he is both the navigator and interpreter of the scenes and their meanings. On the background of the history of tourism in the Holy Land, both the emergence of the Israeli teacher-guide role and the persistence of the public demand for tiyulim and for the organizational and interpretational products of the teacher-guide, associated with tiyulim, are described in this paper. These phenomena are explained by the special peculiarities of the “Israeli condition,” which cause many to seek a sense of belonging to the Israeli land and soil and by the idea prevailing among the Israeli educational elite that tiyulim and the contents delivered during them by the teacher-guides, are appropriate means for arousing this feeling. It is hypothesized that the tiyulim may be looked upon as components of the Israeli civil religion and thus the teacher-guide is a kind of civil religion mentor.     

The influence of business strategy on new product activity: The role of market orientation

In this paper, we propose that business strategy influences new product activity both directly and indirectly via its influence on market orientation. Accordingly, we develop a framework linking firms' relative emphasis on cost leadership, product differentiation and focus strategies to firms' customer and competitor orientation as well as their new product development and introduction activity. We use this framework to develop a simultaneous equations model that is tested on survey data from 175 Dutch firms of varying size and across different industries in the manufacturing sector. The surprising findings are that a greater emphasis on a focus strategy results in a decreased emphasis on customer orientation and that competitor orientation has a negative direct influence on new product activity and an indirect positive effect via customer orientation. We discuss the implications of these findings for theory and practice.     

Lossed in translation: an off-the-shelf method to recover probabilistic beliefs from loss-averse agents

Strictly proper scoring rules are designed to truthfully elicit subjective probabilistic beliefs from risk neutral agents. Previous experimental studies have identified two problems with this method: (i) risk aversion causes agents to bias their reports toward the probability of \(1/2\), and (ii) for moderate beliefs agents simply report \(1/2\). Applying a prospect theory model of risk preferences, we show that loss aversion can explain both of these behavioral phenomena. Using the insights of this model, we develop a simple off-the-shelf probability assessment mechanism that encourages loss-averse agents to report true beliefs. In an experiment, we demonstrate the effectiveness of this modification in both eliminating uninformative reports and eliciting true probabilistic beliefs.