Subjective Probabilities on Subjectively Unambiguous Events

This paper suggests a behavioral definition of (subjective) ambiguity in an abstract setting where objects of choice are Savage‐style acts. Then axioms are described that deliver probabilistic sophistication of preference on the set of unambiguous acts. In particular, both the domain and the values of the decision‐maker's probability measure are derived from preference. It is argued that the noted result also provides a decision‐theoretic foundation for the Knightian distinction between risk and ambiguity.     

Ambiguity,Risk, and Asset Returns in Continuous Time

Models of utility in stochastic continuous–time settings typically assume that beliefs are represented by a probability measure, hence ruling out a priori any concern with ambiguity. This paper formulates a continuous–time intertemporal version of multiple–priors utility, where aversion to ambiguity is admissible. In a representative agent asset market setting, the model delivers restrictions on excess returns that admit interpretations reflecting a premium for risk and a separate premium for ambiguity.     

Organizational Learning in Global Purchasing: A Model and Test of Internal Users and Corporate Buyers*

This research examines a model centered on organizational learning in purchasing. Two different studies are conducted to test the hypotheses among purchasing users (Study 1) and buyers (Study 2). The user sample consists of users representing 355 strategic business units of a Fortune 500 multinational corporation. The buyer sample consists of corporate buyers of 200 multinational corporations drawn from the membership directory of the National Association of Purchasing Management (NAPM). In each study, the focus is on the learning relationships between corporate buyers and internal users in the purchasing organization. Based on the two studies, the results suggest that organizational learning in the purchasing process is influenced by the organizational culture factors of localness, transformational leadership, and openness. Organizational learning has a positive effect on information processing in the purchasing system, which, in turn, has a positive influence on the cycle time of the purchasing process.     

LINKING PROCESS CHOICE WITH PLANT-LEVEL DECISIONS ABOUT CAPITAL AND HUMAN RESOURCES

We examine how process choice links with design decisions about capital and human resources. Our analysis confirms empirically most expected differences between process- and product-focused plants for these decisions. What is unexpected is how top-performing plants resemble other plants within the same process choice category in most respects, while distinguishing themselves on a few selected process attributes. For example, better performing process-focused plants not only achieve higher machine flexibility levels and lower overhead costs as expected, but also have more intensive preventive maintenance programs. Similarly, product-focused plants that achieve certain hallmarks of process-focused plants also enjoy superior performance.     

Elder Abuse and Neglect in African American Families: Informing Practice Based on Ecological and Cultural Frameworks

Despite the rapid growth of the elderly African American population in the U.S., elder abuse and neglect in African American families continue to be underdeveloped areas of study. This article presents an ecological and culturally informed framework for the study of elder abuse in African American populations. The model was developed based on Bronfenbrenner's Human Ecological Theory. The model identifies risk factors associated with different systems that have an influence on the lives of African American families. Cultural protective factors also are identified in the model. The model is intended to provide an understanding of elder abuse and neglect in African American families by considering the influence of contextual factors such as the legacy of slavery, social exclusion, and structural segregation and racism. Specific suggestions for practice are proposed according to cultural strengths of African American communities as well as the ecological premises of the model.     

A Psychometric Analysis of Field Evaluation Instruments Designed to Measure Students’ Generalist-Level Social Work Competencies

ABSTRACT

There is a dearth of research on the evaluation of the psychometric performance of instruments designed to measure students’ generalist-level social work competencies. There is also uncertainty on the performance of various response option formats used to measure students’ competencies in assessment instruments. Using a sample of 198 master of social work students and 198 field instructors, the current study employs confirmatory factor analysis to assess the psychometric performance of a field evaluation instrument designed to measure students’ generalist-level social work competencies. The results provide evidence to support the validity and reliability of the instrument. The results also highlight nuances associated with a 5-point response option format for items used to measure competency indicators. Implications, limitations, and directions for future research are discussed.