Who performs a stronger response to whom? Detecting individual competitive actions and reactions

This study analyzes the degree of competition through individual actions and reactions. Empirical support for this analysis has derived mainly from structural econometric models describing the nature of competition. This analysis extends the existing literature by empirically considering a direct measurement of competition through the analysis of the competitive actions and responses, and describing how firms compete within and between strategic groups. We estimate the firms’ conduct in the Spanish deposits market with 146 firms and 18,888 observations. This is a specially compelling context for the banking industry, in which a deregulation process gives rise to the adoption of aggressive strategies seeking to increase the market shares of deposit accounts; thus, producing a turbulent situation of increasing rivalry. Our results offer a deeper understanding of the firms’ competitive behavior, since we identify different patterns of actions and reactions depending upon the strategic group the firm belongs to.     

Asymmetries in Information Processing in a Decision Theory Framework

Research in psychology suggests that some individuals are more sensitive to positive than to negative information while others are more sensitive to negative rather than positive information. I take these cognitive positive–negative asymmetries in information processing to a Bayesian decision-theory model and explore its consequences in terms of decisions and payoffs. I show that in monotone decision problems economic agents with more positive-responsive information structures are always better off, ex ante, when they face problems where payoffs are relatively more sensitive to the action chosen when the state of nature is favorable.      

Modified minimax estimation of regression coefficients

Working with the linear regression model (1.1) and having the extraneous information (1.2) about regression coefficients the problem exists how to build estimators (1.3) with the risk (1.4) which enable to utilize the known information in order to reduce their risk as compared with the risk (1.6) of the LSE (1.5). Solution of this problem is known for the positive definite matrix T, namely in form for estimators (1.8) and (1.10).First, it is shown that the proposed estimators (2.6),(2.9) and (2.16) based on psedoinversions of the matrix L represent the solution of the problem of the positive semidefinite matrix T=L'L.Further, the problem of interpretability of estimators in the sense of the inequality (3.1) exists; it is shown that all mentioned estimators are at least partially interpretable in the sense of requirements (3.2) or (3.10).     

Firm Ownership and Rent Sharing

In this paper we analyse—theoretically and empirically—how the degree of private versus public ownership of firms affects the degree of rent sharing between firms and their workers. Using a particularly rich linked employer-employee dataset from Portugal, covering a large number of corporate ownership changes across a wide spectrum of economic sectors over more than 20 years, we find that rent sharing is significantly higher in firms with a larger share of private ownership. Estimates from our most preferred empirical specification suggest that an increase in the private ownership share of 10 percentage points increases (on average) the rent-sharing elasticity by 0.0002. Based on a theoretical analysis that incorporates union-firm wage bargaining and efficiency wage effects within the same modelling framework, this result cannot be explained by private firms being more profit oriented than public ones. However, the result is consistent with a scenario whereby privatisation leads to less job security for workers, implying stronger efficiency wage effects.     

Structure,power, and discourses of development in Spanish NGOs

Because of its recent and rapid growth, the Spanish development apparatus provides an appropriate arena for studying nongovernmental organizations (NGOs). This article uses case studies of three NGOs—Manos Unidas, Intermón Oxfam, and Madre Coraje—to explore the tension between the internal and external dynamics that affect these organizations. Although powerful external forces promote structural isomorphism with its attendant bureaucratization and professionalization, several internal factors—youth, small size, certain ideologies, charismatic leaders, and privileging identification with the organization rather than expertise when recruiting participants—resist these homogenizing processes. DiMaggio and Powell's iron cage hypothesis (1983) therefore can be only partially confirmed. We suggest an intriguing, intimate connection between charisma and democracy.     

Fertility Decline in Czechoslovakia During the Last Two Centuries

The decline of fertility in Czechoslovakia on the territory of the Czech Socialist Republic began with a rise in the age at marriage; the decline of marital fertility began only after 1860. On the territory of the Slovak Socialist Republic marital fertility began to decline after 1900 without previous significant changes in the age at marriage. The differences between the demographic behaviour in the two parts of Czechoslovakia have persisted, although they are now gradually disappearing. There are other significant regional differences in the fertility decline caused by the overall process of economic and social development. The end of the demographic transition in the Czech Socialist Republic came during the 1930's and in the Slovak Socialist Republic during the 1960's.     

Social Competence in Preschool Children: Replication of Results and Clarification of a Hierarchical Measurement Model

This study tested assumptions and conclusions reached in an earlier confirmatory factor analysis (CFA) study of the social competence (SC) construct for preschool children. Two samples (total N = 408; a new Portuguese sample and one from US samples that had participated in the original study) contributed data. Seven SC indicators were tested for mean differences across age, sex, and sample. Significant sex differences were found for peer acceptance (favoring girls) and for initiating affectively neutral interactions (boys had higher rates), and the sex by sample interaction also was significant for initiating interactions (i.e., effect significant only in the Portuguese sample). In CFAs, the hypothesized structure of SC fits the data and was invariant across sample and age within sample in both measurement and structural tests. The model was invariant at the measurement level for sex within sample tests, but not at the structural level. The results replicate and extend understandings of SC reported in the original study.     

Diffusive nested sampling

We introduce a general Monte Carlo method based on Nested Sampling (NS), for sampling complex probability distributions and estimating the normalising constant. The method uses one or more particles, which explore a mixture of nested probability distributions, each successive distribution occupying ∼e ⁻¹ times the enclosed prior mass of the previous distribution. While NS technically requires independent generation of particles, Markov Chain Monte Carlo (MCMC) exploration fits naturally into this technique. We illustrate the new method on a test problem and find that it can achieve four times the accuracy of classic MCMC-based Nested Sampling, for the same computational effort; equivalent to a factor of 16 speedup. An additional benefit is that more samples and a more accurate evidence value can be obtained simply by continuing the run for longer, as in standard MCMC.     

The Effect of Cash Transfers on Fertility: Evidence from Argentina

In 2009 Argentina introduced a large poverty-alleviation program (AUH) that provides monthly cash transfers per child to households without workers in the formal sector. In this paper we study the potential unintended effect of this program on fertility. We apply a difference-in-difference strategy comparing the probability of having a new child among eligible and ineligible mothers both before and after the program inception. The intention to treat estimations suggest a significant positive impact on fertility in households with at least one child (around 2 percentage points), but no significant effect on childless households. Given the short time window since the implementation of the AUH, we are unable to identify whether this positive effect reflects changes in the timing of births or in the equilibrium number of children.     

Modelling Marital Fertility by Age and Duration: An Empirical Appraisal of the Page Model

Page's model of marital fertility by age and duration is fitted by maximum likelihood techniques to data from 38 of the 41 developing countries that participated in the World Fertility Survey. The results indicate that the model does an excellent job of capturing variations in fertility patterns, with only two parameters. Moreover, national-level estimates of the parameter representing the degree of control of marital fertility correlate reasonably well with the proportion using contraception. On the other hand, estimates of the parameter representing the level of natural fertility correlate well with the duration of breastfeeding and with a measure of contraceptive use for spacing, but also show substantial regional variation. The paper closes with comments on several extensions and applications of the model.