Empirics of the median voter: democracy, redistribution and the role of the middle class

This paper improves the empirical investigation on the effectiveness of the median voter theorem. Using high quality data, it is possible to directly observe individual net cash transfers in several countries and to investigate the effects of taxes and transfers on different social classes and in aggregate. This allows testing of both the “redistribution hypothesis” (more inequality leads to more redistribution in aggregate) and the “median voter hypothesis” (the middle class plays a special role in policy making). Results suggest acceptance of the former and reject on, or at least questioning, of the latter. Not only the gains from redistribution are negligible for the middle class, but also the link between income and redistribution is also lower for it than for any other class of income. Moreover, the strength of the median voter seems to fall over time. Finally, the amount of redistribution targeted to the middle class is lower in more asymmetric societies, a result that contrasts strongly with the median voter theorem.     

The new ‘twice migrants’: motivations,experiences and disillusionments of Italian-Bangladeshis relocating to London

Taking our cue from an earlier study of East African Asians who ‘onward-migrated’ to the UK in the 1960s and 1970s, this paper looks at the more recent phenomenon of Bangladeshi immigrants in Italy who are onward-migrating to London. We seek to answer three questions. First, why does this migration occur? Second, how does the ethnic group we call ‘Italian-Bangladeshis’ narrate their working lives in London and to what extent do they feel ‘at home’ there? Third, what are the gaps between their expectations held before the move and the actual social and economic conditions they encounter in London? Empirical evidence comes from 40 in-depth interviews with Italian-Bangladeshis who have already onward-migrated or plan to. Most Italian-Bangladeshis move to London to escape socially limiting factory work in Italy, to invest in the educational future of their children, and to join the largest Bangladeshi community outside of their home country. In London, they describe feeling more ‘at home’ than in Italy, due to the size and multiple facilities of the Bangladeshi community, their lack of ‘visibility’ and of racialisation, and the greater sense of religious freedom. But their onward-migration experience has its more negative sides: the inability to access more than low-paid casual work in London’s service economy, the cost of housing, and the difficulty of making social contacts beyond their ethnic community, especially with those they regard as ‘natives’, i.e. ‘white’ British.     

The knowledge management of micro-firms in the crowd: key challenges for successful operations*

Abstract

Crowdfunding platforms are increasingly being used by small and micro-firms to fund the development and initial promotion of their new products. The transition from a crowdfunding campaign to the subsequent operational phase is critical to successfully fulfil the expectations of the backers who supported the micro-firm and expect to receive the new product. This paper analyzes the main challenges that must be faced by micro-firms during this transition, adopting the perspective of knowledge management theory. Based on an exploratory case study analysis, the paper highlights the particularities of these knowledge management challenges in terms of knowledge diversity, dependence and novelty. Asymmetry, dispersion, synchronization, a lack of a common understanding and backer lock-in are the main knowledge-based challenges for the operations of micro-firms that use crowdfunding. Various theoretical and practical implications of the findings are offered.     

The Relation Between Participatory Social Practices and Social Representations of Citizenship in Young Adulthood

The concept of citizenship is used both as a synonym of social action when referencing to an active form of citizenship as well as to indicate a form of civic obligation (formal citizenship). According to these premises, citizenship can be formalized in a large number of activities that contribute to building it in different ways. The aim of the present work is to explore how the concepts of citizenship and being a citizen are co-built by Italian young adults. Two groups of young adults are considered (engaged vs. not engaged). Eighty-nine young adults participants aged 18–36 completed a self-administered mixed-method questionnaire. A content and thematic analysis was conducted and a composite representation of citizenship emerged. Results of the present work can clarify the concept of citizenship by exploring how it is cognitively and socially represented in young adults and how this representation changes in engaged and not engaged young adults.     

Culminating events and time working together in top management teams: Insights from private equity

In some managerial contexts, performance is measured by the results of a rare event that is itself the culmination of a long and ongoing process of daily decision making. In the private equity (PE) industry, for example, a firm makes a limited number of investments throughout its life. However, selecting these few investments requires the firm to engage in a large number of decision-making activities to evaluate the much larger array of potential investments. This raises the interesting possibility that the performance of each culminating event is not a function of the number of previously completed tasks, as it has been conceived previously, but is in fact a function of the accumulation of daily decision making that may or may not culminate in actual buyouts. To understand performance drivers in this and similar contexts, we examine and test the performance effect of the time that members of a PE top management team (TMT) spend working together to evaluate potential investments, and untangle this effect from the number of investments the TMT has bought and sold previously. Our data reveal a U-shaped relationship between time working together (TWT) and buyout performance, and a moderation effect of TMT heterogeneity and TMT support staff size. These findings extend our knowledge of executive decision making in PE firms, and in all managerial contexts where rare decision events are the culmination of an extended process of daily decision making.     

Some Consequences of Low-Quality Schooling under Asymmetric Information

ABSTRACT: The substantial failure of many public programmes intended to increase job opportunities of youth via better education and training has been ascribed mainly to quantitative factors like mismatching or insufficient funds This paper takes a different perspective and concentrates on qualitative aspects It proposes a simple analytical scheme designed to study the consequences of low quality education on the performance of the policy created educational organisations under asymmetric information The model considers two types of schools (high quality H and low quality B) and asks whether there is any room left for the low quality one It is found that an adverse selection process may start within the pool of applicants to school B even under very favourable demand conditions and that any worsening of these conditions lowers the equilibrium average quality of type B graduates Eventually the market for type B certificates may disappear     

Shapley-value decompositions of changes in wage distributions: a note

This note shows how the Shapley value can be applied to the regression-based methods that are often used to decompose changes in wage distributions. The method remedies the path-dependency exhibited by existing approaches that compute the contributions due to (1) changes in sample observable characteristics, (2) changes in the return of characteristics, (3) changes in the distribution of unobservable characteristics.     

New ways of specifying data edits

Summary.   Data editing is the process by which data that are collected in some way (a statistical survey for example) are examined for errors and corrected with the help of software. Edits, the logical conditions that should be satisfied by the data, are specified by subject-matter experts with a procedure which could be tedious and could lead to mistakes with practical implications. To render the process of edit specification more efficient we provide a new step—the definition of the so-called abstract data model of a survey—which describes the structure of the phenomenon that is studied in a survey. The existence of this model enables experts to identify all combinations of variables which should be checked by edits and to avoid the definition of conflicting edits. Furthermore, we introduce an automatic data validation strategy—TREEVAL—that consists of fast tree growing to derive automatically the functional form of edits and of a statistical criterion to clean the incoming data. The TREEVAL strategy is cast within a total quality management framework. The application of the methodologies proposed is demonstrated with the help of a real life application.     

Analysis of heat wave effects on health by using generalized additive model and bootstrap-based model selection

Summary.  It is known that high summer temperature may lead to worsening health conditions among fragile individuals within exposed populations. It is also argued that multiday patterns of high temperature—heat waves—may have relevant effects on health. We discuss the possible measures of intensities of heat waves to be included in a generalized additive model explaining the number of hospital admissions that occurred during summer months in Milan. The issue of variable selection is central to the analysis: a computational method is discussed which may help in assessing the robustness of the model selection method. Eventually, we obtain evidence supporting the relevance of heat waves in driving adverse health episodes.