A Framework for the Simultaneous Measurement of Spatial Variation and Temporal Movement in Prices in a Heterogeneous Country: The Dynamic Household Regional Product Dummy Model

This paper contributes to the growing literature on spatial prices in large heterogeneous countries. While the literatures on spatial variation and temporal movement in prices have grown in parallel, this study marks a departure by providing a unified treatment and proposing a comprehensive framework that allows both approaches. The proposed model is based on twin extensions of the household version of the “country product dummy model” by allowing for a dynamic stochastic specification and interdependence of spatial prices of geographically adjacent regions. Tests of temporal stability and regional independence of the estimated spatial prices are proposed and applied in this paper. The paper shows that the introduction of an autoregressive error process of order one, AR(1), improves the efficiency of the estimates of parameters, urban‐rural and temporal price indices under certain conditions. The Indian application points to a rich potential for using the proposed framework in cross country comparisons such as the International Comparison Program (ICP) exercises.     

A characterization of the extended serial correspondence

We study the problem of assigning objects to a group of agents. We focus on probabilistic methods that take agents’ ordinal preferences over the objects. Importantly, we allow for indifferences among objects. Katta and Sethuraman (2006) propose the extended serial correspondence to solve this problem. Our main result is a characterization of the extended serial correspondence in welfare terms by means of stochastic dominance efficiency, stochastic dominance no-envy and “limited invariance,” a requirement we adapt from Heo (2014a). We also prove that an assignment matrix is selected by the extended serial correspondence if and only if it satisfies “non-wastefulness” and “ordinal fairness,” which we adapt from Kesten et al. (2011).     

Materialism through the eyes of Polish and American consumers

The research applies the Material Values Scale (MVS; Richins and Dawson, 1992) cross-culturally by comparing materialism among Polish and American business students. Cultural differences (e.g., greater humanistic/collectivistic/Christian values in Poland) suggest lower MVS scores for Poles than for Americans. This prediction is consistent with the Local Culture hypothesis (i.e., that a strong local culture results in maintenance of traditional values in defense against global forces). Contrary to predictions, data suggest no Polish-American materialism differences, a finding consistent with the globalization hypothesis (i.e., increasing globalization leads to relatively uniform worldwide materialism). As a precursor to hypotheses testing, confirmatory factor analysis (CFA) tests the construct validity and cross-cultural validity of the MVS. The findings suggest substantial difficulties with the scale that limit the confidence in conclusions based on the scale. Based on these findings, future research discussion aims at developing a measure of materialism with potentially greater construct validity for cross-cultural applications.     

A Microeconomic Approach to Diffusion Models For Stock Prices

This paper studies a class of diffusion models for stock prices derived by a microeconomic approach. We consider discrete-time processes resulting from a market equilibrium and then apply an invariance principle to obtain a continuous-time model. the resulting process is an Ornstein-Uhlenbeck process in a random environment, and we analyze its qualitative behavior. In particular, we provide simple criteria for the stability or instability of the corresponding stock price model, and we give explicit formulae for the invariant distributions in the recurrent case.     

An assessment of the psychometric properties of the Perceived Stress Scale-10 (PSS10) with a U.S. public accounting sample

Utilizing a convenience sample of 305 professional staff from seven public accounting firms, this study examined: a) the factor structure of the Perceived Stress Scale-10 (PSS10; Cohen & Williamson, 1988); b) the invariance of its factor structure; c) the scale's reliability; and, d) its convergent and divergent validity. Our analyses support a structure with two primary factors, (General Distress and Ability-to-Cope), which load on a single second order factor, Perceived Stress, regardless of gender. Spearman–Brown reliability coefficients, item-total correlations, and coefficient alphas each supported the reliability of the items loading on the full scale as well as on each of the two primary factors. Collectively, these findings provide compelling evidence in support of the PSS10 as a perceived stress measure for accounting professionals. However, more research is warranted to investigate the efficacy of a reduced six-item version of the instrument.     

Market Orientation: Scale Invariance and Relationship to Generic Strategies Across Two Countries

This article presents a scheme for investigating scale invariance for the market orientation construct across different countries by examining the psychometric properties of the operationalisation of market orientation (Narver and Slater, 1990). We investigate the measurement of market orientation in two countries (Australia and Zimbabwe—one being an example of a developed economy, the other of a developing economy). We then proceed to test the relationship between market orientation and Porter's (1980) generic strategies. The results suggest that the psychometric properties of the market orientation construct differ in important respects across countries. However, tests for convergent, predictive and discriminant validity using the generic strategies are fully supported for Zimbabwe while for Australia they are supported mutatis mutandis.     

正统经济学微观理论基础的解构

正统经济学的微观理论范式隐含了三个基础性假设:偏好的内涵不变性、偏好的外延无关性和经济资源的完全可替代性.行为经济学研究揭示了选择行为的结构化效应、引出效应、占有效应.这些研究表明,偏好关系在决策者与其身处的环境之间高度随机的互动过程中被塑造,并动态演进,偏好的内涵不变性和外延无关性假设受到了致命的质疑.思维会计原理作为多元的结构化过程,取消了经济资源的完全可替代性.正统经济学微观理论基础遭到了行为经济学的系统解构,经济学的关系论转向基本形成.     

Testing measurement invariance using multigroup CFA: differences between educational groups in human values measurement

This article applies the testing procedures for measurement invariance using multigroup confirmatory factor analysis (MGCFA). It illustrates these procedures by investigating the factorial structure and invariance of the Portraits Value Questionnaire (PVQ, Schwartz et al.: J. Cross Cult. Psychol. 32(5), 519–542 (2001)) across three education groups in a population sample (N  =  1,677). The PVQ measures 10 basic values that Schwartz postulates to comprehensively describe the human values recognized in all societies (achievement, hedonism, self-direction, benevolence, conformity, security, stimulation, power, tradition and universalism). We also estimate and compare the latent means of the three education groups. The analyses show partial invariance for most of the 10 values and parameters. As expected, the latent means show that less educated respondents attribute more importance to security, tradition, and conformity values.     

Assessing response styles across modes of data collection

Cross-mode surveys are on the rise. The current study compares levels of response styles across three modes of data collection: paper-and-pencil questionnaires, telephone interviews, and online questionnaires. The authors make the comparison in terms of acquiescence, disacquiescence, and extreme and midpoint response styles. To do this, they propose a new method, namely, the representative indicators response style means and covariance structure (RIRSMACS) method. This method contributes to the literature in important ways. First, it offers a simultaneous operationalization of multiple response styles. The model accounts for dependencies among response style indicators due to their reliance on common item sets. Second, it accounts for random error in the response style measures. As a consequence, random error in response style measures is not passed on to corrected measures. The method can detect and correct cross-mode response style differences in cases where measurement invariance testing and multitrait multimethod designs are inadequate. The authors demonstrate and discuss the practical and theoretical advantages of the RIRSMACS approach over traditional methods. Electronic supplementary material  The online version of this article (doi:) contains supplementary material, which is available to authorized users.

Inference on Reliability in Two-parameter Exponential Stress–strength Model

The problem of hypothesis testing and interval estimation of the reliability parameter in a stress–strength model involving two-parameter exponential distributions is considered. Test and interval estimation procedures based on the generalized variable approach are given. Statistical properties of the generalized variable approach and an asymptotic method are evaluated by Monte Carlo simulation. Simulation studies show that the proposed generalized variable approach is satisfactory for practical applications while the asymptotic approach is not satisfactory even for large samples. The results are illustrated using simulated data.