The reversing influence of involvement on the framing effect: The role of emotions and negativity

The Asian disease problem (ADP), as a demonstration of the framing effect, revealed a preference reversal between options perceived as risky and those perceived as certain. This research identifies individuals' involvement level as a moderator of the framing effect. The framing effect in the ADP consisted of emotional choice outcomes regarding human lives. Two studies in this paper demonstrate that when based on emotional choices, the framing effect in high involvement conditions increases in size. Interestingly, this influence of involvement reverses when the framing effect is based on rational choices. The studies reveal that the negativity invoked by the certain loss option is instrumental in the underlying mechanism of the risky choice framing effect, such as that demonstrated by the ADP. Copyright © 2014 ASAC. Published by John Wiley & Sons, Ltd.     

Bridging the Gap Between Strategy and Performance: Using Leadership Style to Enable Structural Elements

Successful leaders create structural elements in order to achieve the performance objectives set forth by organizational strategy. Supply chain oriented structural elements are reflected in an organization's relationships, both within the firm and with supply chain partners. In this research effort, we examine how such structural elements can be created as a means through which to enhance performance. Our hypothesized model is rooted in strategy‐structure‐performance theory and integrates elements of servant leadership theory and social exchange theory to explain how building organizational commitment via servant leadership behaviors can ultimately impact performance. We use a survey method to collect data from 158 motor carriers. The results of our structural equation model support our hypotheses and serve to extend the discussion of supply chain structural elements and the role of leadership style in achieving organizational performance.     

Best-performing US mutual fund families from 1993 to 2008: Evidence from a novel two-stage DEA model for efficiency decomposition

When analyzing relative performance, especially at the institutional level, the traditional data envelopment analysis (DEA) models do not recognize vastly different and important activities as separate functions and therefore cannot identify which function may be the main source of inefficiency. We propose a novel two-stage DEA model that decomposes the overall efficiency of a decision-making unit into two components and demonstrate its applicability by assessing the relative performance of 66 large mutual fund families in the US over the period 1993–2008. By decomposing the overall efficiency into operational management efficiency and portfolio management efficiency components, we reveal the best performers, the families that deteriorated in performance, and those that improved in their performance over the sample period. We also make frontier projections for poorly performing mutual fund families and highlight how the portfolio managers have managed their funds relative to the others during financial crisis periods.     

A proposed method for the analysis of public health policy in less developed countries

The study of public health policy in the less developed countries (LDCs) is handicapped by both lack of adequate data and gaps in conceptual apparatus. A new conceptual model is proposed that would be used for future policy analyses to assess what changes in health status of population in LDCs can be expected as direct functions of increased health service resources, and of improved environmental and econosociocultural conditions.While direct policy analysis is ill-advised at this time due to data inadequacy, the model is illustrated using data presently available for twenty-five relatively homogeneous sub-Sahara African countries. Within the limitations of available data, the findings suggest that reductions in mortality in the region might best be achieved by making appropriate health resources available to the populations. Study findings also suggest that physicians contributed more during the study period to the variance in physical health status than did medical assistants.     

Shop stewards in Transport House: a comment upon the incorporation of the rank and file

In the light of the currently prevalent view that shop stewards are becoming more involved in trade union government, the author suggests that we look more carefully at unverified assumptions of shop steward incorporation.     

On Bayesian optimum allocation in some two phase sampling problems

Summary For estimating certain parametric functions, we consider the problem of allocatingN _i, the size of the sample from theith population,i=1,2,...,k, at the second phase of sampling of a two phase sampling procedure, given that we taken _i observations from the population at the first phase. We consider that the observations from theith population follow the exponential distribution with mean _i,i=1,2,...,k, and the functions to be estimated are (i) (d_i/_i) and (ii) (d_ii). When the total cost of sampling at the second phase is c _iN_i and is fixed, allocations using the Bayes approach are obtained so that the estimation is as precise as is possible.     

Steady state and portfolio concept in R & D management

This paper describes a new approach for closing the gap between the tools for strategic goal management and operational management in Pharmaceutical R&D. The strategic level may concern with expectation of sales, rising from new products and with total R & D budget. The operational level concerns with project selection, project and multiproject management problems, solution of project related technical problems, determination of the size of the various functions and the functional management. This new method combines the R & D project portfolio management with a steady state concept allowing the attainment of a constant number of projects under development and a continuous full use of the capacity available.     

Pricing Perpetual Options for Jump Processes

Abstract

We consider two models in which the logarithm of the price of an asset is a shifted compound Poisson process. Explicit results are obtained for prices and optimal exercise strategies of certain perpetual American options on the asset, in particular for the perpetual put option. In the first model in which the jumps of the asset price are upwards, the results are obtained by the martingale approach and the smooth junction condition. In the second model in which the jumps are downwards, we show that the value of the strategy corresponding to a constant option-exercise boundary satisfies a certain renewal equation. Then the optimal exercise strategy is obtained from the continuous junction condition. Furthermore, the same model can be used to price certain reset options. Finally, we show how the classical model of geometric Brownian motion can be obtained as a limit and also how it can be integrated in the two models.     

Street Children and Street Life in Urban Tanzania: The Culture of Surviving and its Implications for Children’s Health

This paper presents data from an in-depth study conducted among street children in an urban setting in Tanzania. It examines the reasons ‘children of the street’ leave their homes, how they survive and meet their daily needs, what problems they encounter whilst on the streets and how they surmount them. The paper also examines the implications of street life for children’s health. The findings show that general poverty lies at the center of the increasing number of street children in Tanzania. Street life makes the children vulnerable to a variety of problems including ill health. Policies in Tanzania have so far failed to solve this problem, particularly because social policies have been dealing with symptoms rather than essential causes. The paper ends by outlining short- and long-term policy solutions and also suggests directions for future research and early intervention. — Cet article présente les données d’une étude en profondeur conduite parmi les enfants des rues dans un cadre urbain en Tanzanie. Il explore les raisons pour lesquelles ‘les enfants des rues’ partent de chez eux, comment ils survivent et surviennent à leurs besoins quotidiens, les problèmes qu’ils rencontrent dans les rues et comment ils les surmontent. Cet article examine aussi les implications de la vie dans la rue pour la santé des enfants. Les résultats montrent que la pauvreté générale est la raison centrale du nombre croissant d’enfants dans les rues en Tanzanie. La vie dans les rues rend les enfants susceptibles à de nombreux problèmes, y compris la mauvaise santé. La politique de la Tanzanie n’a pas encore réussi à résoudre ce problème, en particulier parce que la politique sociale a adressé les symptômes plutôt que les causes essentielles. Cet article propose des solutions politiques à court et à long terme et suggère également des options pour les recherches futures et pour des interventions précoces.