Concomitant-Variable Latent-Class Beta Inflated Models to Assess Students’ Performance: An Italian Case Study

Students’ performance is a crucial aspect for university programs effectiveness and organization. In this paper, we introduce and analyze a performance index for the first-year students of a private Italian university, namely the Libera Università Maria Ss. Assunta. We use administrative data on 532 undergraduate students enrolled in any of the eight available bachelor degrees in 2015. Our aim is to improve the general understanding of performance linking it with personal student’s characteristics and with degree-specific aspects. A beta inflated latent class approach is employed to identify clusters of performance establishing a link with all available explanatory variables. The empirical analysis unveils that a good and balanced degree organization may improve students’ performance. The student’s ability plays a crucial role in discriminating between good and bad performances, and also strongly depends on individual-specific characteristics, such as the final mark obtained at high school.

     

Eco-efficient supply chain networks: development of a design framework and application to a real case study

This paper presents a supply chain network design framework that is based on multi-objective mathematical programming and that can identify ‘eco-efficient’ configuration alternatives that are both efficient and ecologically sound. This work is original in that it encompasses the environmental impact of both transportation and warehousing activities. We apply the proposed framework to a real-life case study (i.e. Lindt & Sprüngli) for the distribution of chocolate products. The results show that cost-driven network optimisation may lead to beneficial effects for the environment and that a minor increase in distribution costs can be offset by a major improvement in environmental performance. This paper contributes to the body of knowledge on eco-efficient supply chain design and closes the missing link between model-based methods and empirical applied research. It also generates insights into the growing debate on the trade-off between the economic and environmental performance of supply chains, supporting organisations in the eco-efficient configuration of their supply chains.     

Italian Social Enterprises at the Crossroads: Their Role in the Evolution of the Welfare State

This paper investigates the relationship between the emergence of social enterprises (SEs) and the historical development of the Italian welfare state. Our research offers a comprehensive overview of the internal and external influences that shaped the constitutive relations between the welfare state and SEs. A qualitative methodology based on semi-structured interviews and focus groups has been adopted. This study suggests that two interconnected dynamics—the emergence of new social needs being answered by private organisations and the increased prominence of third sector actors during the privatisation of the welfare state—shaped the co-evolution of the welfare state and SEs in Italy. The study also suggests that the emergence and evolution of Social Enterprises in the years leading up to 2001 was mainly a bottom-up phenomena stemming from the actions of citizens setting up private organisations (often cooperatives) to answer to social problems created by new social needs and the structural reform of the welfare state. After 2001 especially with the new law on SEs in 2016, the evolution of SEs seems to have been increasingly influenced by the surrounding ecosystem of actors and supranational policy discourses rather than SEs themselves.     

CONSUMPTION EXTERNALITIES AND MONETARY POLICY WITH LIMITED ASSET MARKET PARTICIPATION

This article explores the interaction between consumption externalities and limited asset market participation (LAMP) in the standard New‐Keynesian model. We assess the performance of simple Taylor‐type interest rate rules with respect to (a) equilibrium determinacy, (b) the model's ability to simultaneously generate output and inflation volatility similar to the pre‐Volcker era, and (c) the model's response to a technology shock. We find that when individual preferences are affected by average household consumption (Aggregate Consumption Externality), stronger externalities increase the range of LAMP for which multiple equilibria arise even if the policy rule satisfies the Taylor principle. The interaction of LAMP and externalities can generate vast inflation/output relative volatility in line with the one observed in the data in the 1970s. According to our analysis, consumption externalities also affect the responses of endogenous variables to total factor productivity shocks. (JEL E4, E5)     

A Foreigner Who Does Not Steal My Job: The Role of Unemployment Risk and Values in Attitudes toward Equal Opportunities

Immigration has become systematically politicized and opposed by many individuals. We examine individual attitudes toward equal opportunities for foreigners and Swiss citizens, using cross‐sectional data from the Swiss Household Panel. Individuals with low levels of education tend to oppose foreigners, while the opposition by individuals with high levels of education increases with the risk of unemployment. Values and beliefs explain the negative attitudes of individuals with low levels of education, but not the association with the risk of unemployment for individuals with high levels of education. Clearly, both values and economic factors are important for explaining attitudes toward foreigners.     

Poster Abstracts

Objectives. To analyse the relation between results of the Aging Males' Symptoms (AMS) questionnaire for aging males, and of quality of life (QOL) questionnaire SF-12 and cardiovascular risk factors.

Methods. 1,927 men aged 55–85 years were interviewed by 56 general practitioners. During the interview the men were asked to fill in the AMS scale and the QOL questionnaire SF-12.

Results. Of 1,927 men 1,806 men filled correctly the AMS questionnaire. The mean SF-12 mental index was respectively 55.9 in men with a total AMS score indicating no impairment, 50.9 mild, 42.8 moderate, and 32.8 severe impairment. The corresponding values for the physical index were 51.2, 46.7, 40.8 and 32.3.

A history of diabetes was associated with an increased risk of reporting moderate/severe impairment: in relation to the total AMS score the odds ratio, (OR), of moderate/severe impairment in comparison with no impairment was 1.6 (95%CI 1.2–2.1). A history of myocardial infarction and hypertension increased the risk (respectively OR 1.4 (95%CI 1.1–18) and 1.7 (95%CI 1.2–2.4)).

Conclusions. This study shows that higher AMS scores are associated with lower SF-12 indices and suggests that elevated values of the AMS score are associated with cardiovascular risk factors or diseases.     

From wage rigidity to labour market institution rigidity: A turning-point in explaining unemployment?

In this paper we offer a critical discussion about the concept of labour market rigidity in the light of recent theoretical approaches that have aimed to provide sound micro-foundations to the presence of unemployment in market economies. We point out that the concept of labour market rigidity usually referred to in such theories has changed over time, involving in succession the rigidity of wages, contracts and labour market institutions. We also appraise the factors that lead labour market institutions rigidity, stressed by the search literature, to challenge the more widespread explanation of unemployment grounded on wage rigidity. Moreover, we analyse some theoretical and empirical issues that cast doubt on the ability to deal with unemployment, disentangling the role of institutional rigidities from that of wage stickiness.     

Forced Migration,Climate Change,Mitigation and Adaptive Policies in Mexico: Some Functional Relationships

Natural disasters related to hydro-meteorological events have increased during the last few decades, both in frequency and severity. Mexico is heavily exposed to climate change, but has also suffered in the past from climate variability ( Blümel, 2009 ). The new risks oblige the government to develop mitigation processes, while the affected people are implementing strategies of adaptation and resilience-building, mostly at the family and community level. This includes forced migration due to climate change into the slums of megacities or illegal immigration to the United States. The arid, semi-arid and subhumid condition of 49.2 per cent of the territory of Mexico is seriously affected by climate change. In addition, poverty and the lack of jobs have created complex livelihood situations, in which young people leave rural areas, partly due to socio-economic pull factors. In this paper, we address the functional relationships between climate patterns and migration processes in Mexico, highlighting the linkages between the origin of migrants, their economic activity and their vulnerability to extreme events and we discuss long-term climate patterns. Agriculture still uses 78 per cent of the available water in Mexico. In the drylands the competition for water use requires an integrated policy to deal with the new threats from climate change, including mitigation from the top down and adaptation processes from the bottom up to reduce the social vulnerability of the rural population in the highly affected drylands of the central and northern parts of Mexico. The new policy for administering water resources, which promotes the efficient use of an increasingly scarce and polluted resource, still suffers from a lack of participation by the affected rural population. In this paper, we propose an integrated management system from the watershed onwards, involving socio-economic, political, cultural and hydrological variables, to deal with the rising scarcity of water, and the uncertainty and complexity of climate change.     

Choosing a gambling partner: testing a model of mutual insurance in the lab

In this study, we investigate how economic agents choose gambling partners and how paired risky choices differ from individual ones. To this aim, we develop a simple model and design a laboratory experiment that allows us to compare individual versus paired decisions across two treatments, where pairs are, respectively, exogenously and endogenously formed. In both treatments, paired subjects decide individually and independently how to allocate their wealth over a portfolio of lotteries and fully commit to share any winnings. The main result from our experiment is that whenever agents are allowed to choose a gambling partner they decide to team up with other agents who display the same degree of risk aversion as themselves. Moreover, paired choices consistently involve higher risk taking than individual choices. This finding is more evident when information on subjects’ risk attitudes is made available and when subjects team up in homogeneous pairs, thereby confirming that subjects successfully exploit the benefits of mutual insurance.     

Estimation of the Lognormal-Pareto Distribution Using Probability Weighted Moments and Maximum Likelihood

This article deals with the estimation of the lognormal-Pareto and the lognormal-generalized Pareto distributions, for which a general result concerning asymptotic optimality of maximum likelihood estimation cannot be proved. We develop a method based on probability weighted moments, showing that it can be applied straightforwardly to the first distribution only. In the lognormal-generalized Pareto case, we propose a mixed approach combining maximum likelihood and probability weighted moments. Extensive simulations analyze the relative efficiencies of the methods in various setups. Finally, the techniques are applied to two real datasets in the actuarial and operational risk management fields.