Responsible Personal Finance: The Role of Conscientiousness in Bank and Pension Savings in Chile

We investigate the role of trait conscientiousness, from the Big Five personality traits, in explaining individual saving behavior. Conscientiousness is a disposition to be responsible and pursue non‐immediate goals; thus, we expect this trait to positively predict saving behavior. Using a nationally representative survey from Chile, we find the expected effect of conscientiousness on pension and bank savings.     

Store brand and national brand promotion attitudes antecedents

Retailers compete against national manufacturers by launching store brands. National manufactures regularly use brand promotions to fight store brands back. The purpose of this article is to find out whether attitudes toward national brand promotions and store brands have similar or different conceptual antecedents. The study presents and tests a model of the effects of shoppers´ characteristics (price and non-price-related) on attitudes toward store brand and national brand promotions. The results support that constructs relating to price impact both store brand attitude and national brand promotion attitude, but the strength of some of these relationships differ. Other shopper characteristics like brand loyalty and store loyalty, have similar negative and positive effects, respectively. These slight differences suggest that promotions of national brands might be a good tool for fighting back store brands, but manufacturers need to design and target these promotions carefully in order to avoid head-to-head competition.     

Implementation of optimal contracts under adverse selection

This paper studies a 2-agent, 2-type principal-multiagent model of adverse selection under the assumption that the agents each have complete information. We construct a mechanism implementing the first-best contracts in Nash equilibrium that: satisfies a condition related to individual rationality, is renegotiation-proof, has a small-sized message space, achieves unique implementation and satisfies undomination of Nash equilibrium strategies. Moreover, we prove that other requirements which relate to individual rationality (different from the one satisfied by our mechanism) are not compatible with implementation of the first-best contracts. Received: 27 July 1998 / Accepted: 26 May 2000     

Optimizing joint production of timber and carbon sequestration of afforestation projects

Optimizing harvesting decisions has been a matter of concern in the forestry literature for centuries. However, in some tropical countries, growth models for fast-growing tree species have been developed only recently. Additionally, environmental services of forests gain importance and should be integrated in forest management decisions. We determine the impact of a joint production of timber and carbon sequestration on the optimal rotation of a fast-growing species in north-western Ecuador, comparing different optimization approaches and taking the latest developments of the Kyoto Protocol into account. We find that payments for carbon sequestration have substantial impact on the rotation length: in contrast to an optimum of 15 years when focusing on timber production only, joint production leads to a doubling of the rotation length, which means that timber harvest should be postponed until the end of the carbon project.     

Economic and quality of life burden of anemia on patients with CKD on dialysis: a systematic review

Abstract

Aims: The overall cost and health-related quality of life (HRQoL) associated with current treatments for chronic kidney disease (CKD)-related anemia are not well characterized. A systematic literature review (SLR) was conducted on the costs and HRQoL associated with current treatments for CKD-related anemia among dialysis-dependent (DD) patients.

Materials and methods: The authors searched the Cochrane Library, MEDLINE, EMBASE, NHS EED, and NHS HTA for English-language publications. Original studies published between January 1, 2000 and March 17, 2017 meeting the following criteria were included: adult population; study focus was CKD-related anemia; included results on patients receiving iron supplementation, red blood cell transfusion, or erythropoiesis stimulating agents (ESAs); reported results on HRQoL and/or costs. Studies which included patients with DD-CKD, did not directly compare different treatments, and had designs relevant to the objective were retained. HRQoL and cost outcomes, including healthcare resource utilization (HRU), were extracted and summarized in a narrative synthesis.

Results: A total of 1,625 publications were retrieved, 15 of which met all inclusion criteria. All identified studies included ESAs as a treatment of interest. Two randomized controlled trials reported that ESA treatment improves HRQoL relative to placebo. Across eight studies comparing HRQoL of patients achieving high vs low hemoglobin (Hb) targets, aiming for higher Hb targets with ESAs generally led to modest HRQoL improvements. Two studies reported that ESA-treated patients had lower costs and HRU compared to untreated patients. One study found that aiming for higher vs lower Hb targets led to reduced HRU, while two other reported that this led to a reduction in cost-effectiveness.

Limitations: Heterogeneity of study designs and outcomes; a meta-analysis could not be performed.

Conclusions: ESA-treated patients undergoing dialysis incurred lower costs, lower HRU, and had better HRQoL relative to ESA-untreated patients. However, treatment to higher Hb targets led to modest HRQoL improvements compared to lower Hb targets.     

Subordinated Financial Integration and Financialisation in Emerging Capitalist Economies: The Brazilian Experience

This paper analyses the recent changes in financial practices and relations in emerging capitalist economies (ECEs) using the example of Brazil. It argues that in ECEs these financial transformations, akin to the financialisation phenomena observed in Core Capitalist Economies (CCEs), are fundamentally shaped by their subordinated integration into a financialised and structured world economy. To analyse this subordinated financialisation, the paper draws on the framework of international currency hierarchies. It shows by means of two specific processes how the existence of a hierarchic international monetary system has changed the financial behaviour of domestic economic agents, and with it the structure of the financial system. The first process highlights the phenomenon of reserve accumulation and the changing behaviour of domestic banks. The second points to ECEs’ sustained external vulnerability and its impact on the operations of Brazilian non-financial corporations. The paper also shows that not only were these financial transformations shaped by ECEs’ subordinated financial integration, but also that it was these financialisation tendencies themselves which contributed to cementing existing hierarchies and further deepened existing asymmetries between ECEs and CCEs.     

Multicriteria framework for selecting a process modelling language

The choice of process modelling language can affect business process management (BPM) since each modelling language shows different features of a given process and may limit the ways in which a process can be described and analysed. However, choosing the appropriate modelling language for process modelling has become a difficult task because of the availability of a large number modelling languages and also due to the lack of guidelines on evaluating, and comparing languages so as to assist in selecting the most appropriate one. This paper proposes a framework for selecting a modelling language in accordance with the purposes of modelling. This framework is based on the semiotic quality framework (SEQUAL) for evaluating process modelling languages and a multicriteria decision aid (MCDA) approach in order to select the most appropriate language for BPM. This study does not attempt to set out new forms of assessment and evaluation criteria, but does attempt to demonstrate how two existing approaches can be combined so as to solve the problem of selection of modelling language. The framework is described in this paper and then demonstrated by means of an example. Finally, the advantages and disadvantages of using SEQUAL and MCDA in an integrated manner are discussed.     

Do switching costs mediate the relationship between entry timing and performance?

The purpose of this paper is to test the effectiveness of switching costs as an isolating mechanism in the context of the first‐mover advantage theory. Whereas both the literature on switching costs and on pioneering propose this as a mechanism through which firms could obtain sustainable competitive advantage, other authors offer a rationale for thinking that this is not the case. We test our hypotheses in the context of the European mobile telecommunications industry. This is a sector that has been characterized by high rates of growth in the number of subscribers, which could reduce the effectiveness of switching costs from being effective as an isolating mechanism. Our results show that switching costs are an important tool through which first‐mover advantages materialize. Copyright © 2011 John Wiley & Sons, Ltd.     

Learning for sharing: an empirical analysis of organizational learning and knowledge sharing

Knowledge is one of the most strategically important resources to sustain competitive advantage in an organization. So its creation and management has attracted the attention of managers and researchers alike. Organizational learning has been positively associated with innovation and performance and knowledge sharing has been associated with innovation performance. Although, some authors argued that organizational learning and knowledge sharing are complementary, there are few studies that have empirically tested the relationship between them. The purpose of this study was to analyze its relation and to empirically test it in the hospitality industry. Based on the results of the structural equation modeling approach on 244 Spanish hotels we confirmed a positive relationship between the variables. The findings are discussed; implications and future lines of research are presented.     

Qualitative analysis of Bayes–Nash equilibrium in weak asymmetric auctions

It is now generally accepted that there is a negative relationship between inflation and central bank independence (CBI). This study finds that inflation and CBI are endogenously determined, yet the negative correlation between the two remains robust.