Environmental Valuation with Imperfect Information The Case of the Random Utility Model

This paper considers welfare analysis with therandom utility model (RUM) when perceptions ofenvironmental quality differ from objectivemeasures of environmental quality. Environmental quality is assumed to be anexperience good, so that while perceptions ofquality determine choices, ex postutility is determined by objective quality. Given this assumption, I derive a measure ofthe welfare impact of changes in environmentalquality, and I show how this new welfaremeasure differs from the traditional welfaremeasure developed by Hanemann (1982). This newwelfare measure provides an approach tomeasuring the value of information aboutenvironmental quality within the framework ofthe random utility model.     

Exploring the impact of economic integration agreements through extreme bounds analysis

This article provides an empirical strategy guided by the data to estimate the effects of Economic Integration Agreements (EIAs) on trade flows and their transitional dynamics. The strategy uses Extreme Bounds Analysis (EBA) to guide the choice of lags and leads in the effects without researchers' discretion involved. We show that arbitrarily selected year intervals and starting year can result in non-robust estimates of transitional dynamics of the effects of EIAs on trade flows. The empirical strategy follows two steps: EBA first sifts lags and leads of EIAs robustly related to trade flows from candidates, then these are included in the gravity equation to estimate the effects of EIAs on trade. We find that various lags and leads are robustly and positively related to trade flows, and the lag and lead structure depends on the level of integration. Our results show that EIAs have a long-term effect of 63% on trade flows. Under the richer lag and lead structure, deep-integration agreements beyond the level of free trade agreements have a much higher impact on trade flows than free trade agreements do (132% vs 31%). The estimates of effects of EIAs obtained from EBA-based estimation have a smaller contemporaneous effect and larger phased-in effects compared to previous studies relying on the subjective choices of year intervals while similar results are observed with the decomposed EIAs.     

中国大陆各地区城市化发展水平的统计分析

利用2008年中国大陆31个地区的数据,从经济、公共服务、城建和人口等四个因素出发,运用因子分析和系统聚类的方法建立各地区城市化发展水平评价指标体系。结果显示：中国大陆整体城市化发展水平还有待提高,地区间城市化发展水平差距较明显,城市化各方面的因素水平发展不平衡。应在大力发展城市基础设施建设的基础上,发挥优势地区的带动作用,促进城市化水平协调发展。     

基于灰色系统模型的城乡建设用地规模预测——以常德市鼎城区为例

土地利用总体规划是区域性的综合规划,为地方性的经济发展提供科学和法律依据.建设用地的有效供给是地方经济发展基础,建设用地需求量预测是土地利用总体规划编制的核心,也是土地利用管理的依据.为了切实搞好常德市鼎城区的土地利用总体规划,使之更具有前瞻性、可操作性,必须切合实际地搞好建设用地需求规模和布局的预测.采用灰色系统模型,通过灰色关联度分析,建设用地发展与GDP、总人口、市镇人口、社会固定资产投资、人均GDP、第二产业产值、第三产业产值密切相关.基于这些因子,采用灰色系统模型法、建立GM(1,1)灰色模型,进行了2010年和2020年的城乡建设用地规模的预测.GM(1,1)模型可以进行长期预测,但预测仅反映一种趋势,综合考虑驱动因素的灰色线性组合模型更具有预测的可靠性.利用GM(1,1)模型和线性模型组合,进行城乡建设用地规模预测,可为土地利用总体规划提供可靠的保证.     

我国房地产税与房价关系的实证研究

本文以我国1988--2006年房地产税和房价的相关数据为基础,通过协整分析、向量自回归、误差修正和Granger因果检验,研究了我国房地产税对房价的短期影响及两者的长期关系。结论如下：我国房地产税和房价之间存在长期稳定的均衡关系,房价和房地产税存在正相关关系,调高房地产税会引起房价增长;在不考虑地方公共支出对房价影响的情况下,房地产税的长期影响效应要大于短期影响效应;我国房地产税制设置欠完善,房地产税的变化会影响房价,而房价的变化不会影响房地产税。最后,本文提出,应对现行的房地产税收制度进行改革,减少房地产流通环节的税种和税负,开征物业税。     

Building internal business scenarios based on real data from a performance measurement system

This paper presents a new methodology to build internal business scenarios from the data gathered by some key performance indicators (KPIs) defined within a performance measurement system. The application of the principal components analysis technique leads to the identification of latent relationships between KPIs that underlies some important business aspects. Further, this methodology allows to represent not only the temporal evolution of the organisation as a function of these business aspects but also the definition and determination of internal business scenarios, being therefore the source of meaningful managerial information. At the end of the paper, results of a practical application are presented and discussed, as well as their importance for the organisation from a decision making point of view.     

投资者会听话听音吗??--基于管理层语调视角的实证研究

我国投资者会听话听音吗？文章利用文本分析方法,基于我国上市公司2005－2012年年度业绩说明会上的管理层语调数据对此进行了实证检验。研究发现,投资者对管理层的净正面语调做出了显著的正向反应,尤其是对负面语调做出了显著的负向反应。这表明在我国强调“意会”的语境文化背景下,投资者会听话听音,管理层语调具有信息含量,上市公司的业绩说明会具有其自身的存在价值。文章的研究结果还意味着,“词袋”方法及其构建的管理层语调用词列表在我国儒家文化背景下具有一定的适用性,值得开展进一步的研究。     

高速公路运营隧道病害整治探讨

本文结合工程实例,根据隧道病害情况和隧道检测报告,利用Midas GTS对隧道衬砌结构的变形和内力进行分析,探讨隧道相关整治措施,对已通车运营的隧道进行整治,以期为隧道病害治理工作提供参考。     

Evaluating drug cost per responder and number needed to treat associated with lixisenatide on top of glargine when compared to rapid-acting insulin intensification regimens on top of glargine,in patients with type 2 diabetes in the UK,Italy, and Spain

Objectives: This study investigated the cost per responder and number needed to treat (NNT) in type 2 diabetes mellitus (T2DM) patients for lixisenatide compared to insulin intensification regimens using composite endpoints in the UK, Italy, and Spain.

Methods: Efficacy and safety outcomes were obtained from GetGoal Duo-2, a 26-week phase 3 trial comparing lixisenatide vs insulin glulisine (IG) once daily (QD) and three times daily (TID). Response at week 26 was extrapolated to 52 weeks, assuming a maintained treatment effect, based on long-term evidence in other T2DM populations. Responders were defined using composite end-points, based on an HbA1c threshold and/or no weight gain and/or no hypoglycemia. The HbA1c threshold was varied in sensitivity analyses. Annual treatment costs were estimated in euros (1 GBP?=?1.26 EUR), including drug acquisition and resource use costs. Cost per responder was computed by dividing annual treatment costs per patient by the proportion of responders.

Results: Lixisenatide was associated with the lowest cost per responder for all composite end-points that included a weight-related component. For the main composite end-point of HbA1c ≤7.5% AND no weight gain AND no symptomatic hypoglycemia, cost per responder results were: UK: 6,867€, 8,746€, and 12,410€; Italy: 7,057€, 9,160€, and 12,844€; Spain: 8,370€, 11,365€, and 17,038€, for lixisenatide, IG QD, and TID, respectively. The NNT analysis showed that, for every 6.85 and 5.86 patients treated with lixisenatide, there was approximately one additional responder compared to IG QD and TID, respectively.

Limitations: A limitation of the clinical inputs is the lack of 52-week trial data from GetGoal Duo-2, which led to the assumption of a maintained treatment effect from week 26 to 52.

Conclusions: This analysis suggests lixisenatide is an efficient economic resource allocation in the UK, Italy, and Spain.