Using stated preference discrete choice modelling to inform health care decision-making: A pilot study of breast screening participation

This study was an important start to explore the feasibility of applying stated preference discrete choice modelling (SPDCM) for use in developing breast screening participation enhancement strategies. It needs to be followed by further research to establish model validity and authoritative results. In the meantime a random effects binary probit choice model was estimated using a main effects with selected 2-way interaction design and a convenience sample of Australian breast cancer screening participants. A response rate of 48% was obtained. Clear preferences for different service configurations were revealed and used to demonstrate how potential strategies to enhance future participation rates of women placed on routine recall could be identified. As anticipated accuracy of screening was the most important attribute of the service to influence the probability of uptake but others were screening time, travel time, information about screening benefits and the desire for privacy lending support to the view that benefit assessment goes beyond health factors. In summary, the SPDCM approach can be regarded as a judicious approach for helping decision-makers improve screening participation.     

Do social product features have value to consumers?

The present paper utilizes a random utility theoretic experimental design to provide estimates of the relative value that selected consumers place on the social features of products. Experiments were conducted in Hong Kong and Australia using both university students and supporters of the human rights organization Amnesty International. The paper focuses on two classes of social features, “labor practices” and “animal rights and the environment”. The results show that the social features of products can, on average, affect an individuals' likelihood of purchasing a product. Also, this paper finds distinctive segments of ethically orientated consumers.     

Returns to Initial Shareholders in Savings Institution Conversions: Evidence and Regulatory Implications

In this paper, stock prices for savings institutions that have converted to the stock form of organization are examined. Event-study methodology is used to focus on the returns to initial shareholders in the period immediately following initial trading. The results of the study indicate significant positive returns in savings institution conversions in the first several trading days, suggesting a one-time wealth transfer from depositors not exercising their rights to initial shareholders. The results also provide support for the efficiency of the market as the market price adjusts quickly in the first two days of trading after the public offering. Given the FHLBB's objectives, there appears to be little cause for regulatory concern although initial returns are significant.     

Comparing Aggregate Housing Price Measures

Three methodologies to measure the aggregate price of housing JEL Classification C82,R31     

Majority rule with dollar voting

Consider a majority game in which each player's voting strength is equal to the player's payoff. In this game, wealth is the only source of power, and any coalition with more than half the wealth can take everything. Only extreme concentrations of wealth, in which one player owns everything or two players each own half the total wealth are undominated, and thus constitute the core. However, the stable set (von Neumann-Morgenstern solution) is significantly larger. Allocations in which one player has half the wealth, or which divide the total wealth equally among a number of players equal to a power of two, constitute the unique stable set. The stable set thus provides a formal model of an endogenous balance of power.     

Book reviews

Routledge Series in Analytical Management Series Editor: D.C. Wilson London and New York, Routledge.

Strategues fir Growth; Maturuity, Recovery and Internationalisation Peter McKiernan London and New York, Routledge, 1992, £35.00. (hbk), ISBN 0-415-07383-9.

Technology and Organisation: Power, Meaning and Design Harry Scarborough & F. Martin Corbett London and New York, Routledge, 1992, £35.000 (hbk), ISBN 0-415-07384-7.

A Strategy of Change; Concepts and Controversies in the Management of Change D. C. Wilson London and New York, Routledge, 1992, £10.99 (pbk), ISBN 0-415-09773-8.

Human Resource Strategies for International Growth Chris Hendry London and New York, Routledge, 1994, £35.00. (hbk), ISBN 0-415-09773-8.

What is Strategy and Does it Matter? Richard Whittington London and New York, Routledge, 1993, £35.00. (hbk), ISBN 0-415-07385-5.

Technological Collaboration in Industry Mark Dodgson London, Routledge, 1993, £40.00 (hbk), ISBN 0-415-08230-7.

Corporate Vision and Rapid Technological Change Peter Swann & Jas Gill London, Routledge, 1993, £37.50 (hbk), ISBN 0-415-09135-7.

Internal Merkets: Bringing the Power of Free Enterprise Inside your Organisation W.E. Halad, A. Germanmayeh and J. Pourdenhad (eds) New York, Wiley, 1993, 301 pp., US$ 34.95.

Strategic Management: A Methodological Approach, 4th edition A.J. Rowe, R.O. Mason, K.E. Dicker, R.B. Mann & R.J. Mocler New York, Addison-Wesley, 1994, ISBN 0-201-58638-X.

The Management of Scale (Big Organizations, Big Decisions, Big Mistakes) David Collingridge London, Routledge, 1992, £35.00 (hbk), £12.99 (pbk), ISBN 0-415-07856-3.

The Intelligent Enterprise James B. Quinn New York, Free Press, 1992, ISBN 0-02-925615-1.     

Expectations equilibrium and informational efficiency for stochastic environments

This paper studies the existence of expectations equilibria for message processes on stochastic exchange environments. A message process which permits the general existence of expectations equilibria is termed admissible. The main results are: (1) Every admissible process satisfies a weakened version of the Hurwicz “privacy” condition. (2) The competitive process is admissible, and has a message space of locally minimal size among admissible nonwasteful processes. (3) The only admissible condensations of the competitive process are constant functions.