Signaling to Partially Informed Investors in the Newsvendor Model

We analyze a signaling game between the manager of a firm and an investor in the firm. The manager has private information about the firm's demand and cares about the short‐term stock price assigned by the investor. Previous research has shown that under continuous decision choices and the Intuitive Criterion refinement, the least‐cost separating equilibrium will result, in which a low‐quality firm chooses its optimal capacity and a high‐quality firm over‐invests in order to signal its quality to investors. We build on this research by showing the existence of pooling outcomes in which low‐quality firms over‐invest and high‐quality firms under‐invest so as to provide identical signals to investors. The pooling equilibrium is practically appealing because it yields a Pareto improvement compared to the least‐cost separating equilibrium. Distinguishing features of our analysis are that: (i) we allow the capacity decision to have either discrete or continuous support, and (ii) we allow beliefs to be refined based on either the Undefeated refinement or the Intuitive Criterion refinement. We find that the newsvendor model parameters impact the likelihood of a pooling outcome, and this impact changes in both sign and magnitude depending on which refinement is used.     

Estimation of geodesic tortuosity and constrictivity in stationary random closed sets

We investigate the problem of estimating geodesic tortuosity and constrictivity as two structural characteristics of stationary random closed sets. They are of central importance for the analysis of effective transport properties in porous or composite materials. Loosely speaking, geodesic tortuosity measures the windedness of paths, whereas the notion of constrictivity captures the appearance of bottlenecks resulting from narrow passages within a given materials phase. We first provide mathematically precise definitions of these quantities and introduce appropriate estimators. Then, we show strong consistency of these estimators for unboundedly growing sampling windows. In order to apply our estimators to real data sets, the extent of edge effects needs to be controlled. This is illustrated using a model for a multiphase material that is incorporated in solid oxide fuel cells.     

Income inequality and risk taking: the impact of social comparison information

Theory and Decision - In contrast to the assumptions of standard economic theory, recent experimental evidence shows that the income of peers has a systematic impact on observed degrees of risk...     

‘When you're boxing you don't think so much’: pugilism,transitional masculinities and criminal desistance among young Danish gang members

This paper draws upon international research evidence that suggests a relationship between protest masculinity and the manifestation of violent crime among young males, and that criminal desistance may be linked to (inter-) subjective processes such as the reconstruction of masculine identity. The paper considers the potential that pugilism (the art and practice of boxing) may have on enabling young, disadvantaged minority male gang members to find avenues for alternative identity construction and to gain transitional experiences which trigger self-confessed desistance actions. Drawing upon an ethnographic study conducted in a boxing rehabilitation centre on the outskirts of Copenhagen, Denmark, the paper reports on data gleaned from participant observation and qualitative interviews with 22 ethnic minority young men. Findings suggest that the masculine context within the rehabilitation programme provided the young men with a safe space to perform broader versions of locally dominated views on masculinity and to reflect on their current situations and dilemmas. The young men were clearly in transition and their desistance journeys were characterized by hope and ambition but also disappointment and despair. In some cases it appeared that the young men's dogged attempts to desist from crime became a new way for them to ‘do masculinity’. The authors draw upon the findings to make recommendations for policy, practice and research.     

Risk attitudes and digit ratio (2D:4D): Evidence from prospect theory

Journal of Risk and Uncertainty - Prenatal androgens have organizational effects on brain and endocrine system development, which may have a partial impact on economic decisions. Numerous studies...     

Civil Society Meta-organizations and Legitimating Processes: the Case of the Addiction Field in France

VOLUNTAS: International Journal of Voluntary and Nonprofit Organizations - To cope with the new challenges inherent to their political role, civil society organizations must convince their...     

Filling holes in the safety net? Material hardship and subjective well-being among disability benefit applicants and recipients after the 1996 welfare reform

Some of the rapid recent growth in disability income receipt in the United States is attributable to single mothers post-welfare reform. Yet, we know little about how disability benefit receipt affects the economic well-being of single mother families, or how unsuccessful disability applicants fare. We compare disability recipients to unsuccessful applicants and those who never applied among current and former welfare recipients, and examine how application and receipt affect material hardships and subjective measures of well-being. We then examine whether alternative ways of making ends meet mediate differences in well-being. After controlling for alternative sources of support, no significant differences in overall actual hardships or difficulty living on current income remained between the three groups. However, even after controlling for these strategies, unsuccessful applicants were significantly more likely to report that they expected hardships in the next two months. Our results suggest a pervasive level of economic insecurity among unsuccessful applicants.     

What makes age diverse teams effective? Results from a six-year research program

Based on a new model of productivity in age diverse tams, findings from a six-year research program are reported in which data from more than 745 natural teams with 8,848 employees in three different fields (car production, administrative work, financial services) were collected. Moreover, central assumptions of this model were tested with a representative survey of the German workforce (N = 2,000). Results support both significant advantages and disadvantages for age-mixed teams. Based on the findings, the following preconditions for the effectiveness of age diverse teams are identified: high task complexity, low salience and high appreciation of age diversity, a positive team climate, low age-discrimination, ergonomic design of work places, and the use of age differentiated leadership. Based on these insights, we developed a new training for supervisors, which addresses the aforementioned aspects and seeks to improve team performance and health of team members. It was found that the training reduces age stereotypes, team conflicts and enhances innovation. Thus, we can conclude that effective interventions for a successful integration of elderly employees in work groups are available and that combinations of measures that address ergonomic design issues, team composition and leadership are to be strongly recommended for practice.     

Usability in product design--the importance and need for systematic assessment models in product development--Usa-Design Model (U-D) ©

In product design, human factors are considered as an element of differentiation given that today's consumer demands are increasing. Safety, wellbeing, satisfaction, health, effectiveness, efficiency, and other aspects must be effectively incorporated into the product development process. This work proposes a usability assessment model that can be incorporated as an assessment tool. The methodological approach is settled in two stages. First a literature review focus specifically on usability and developing user-centred products. After this, a model of usability named Usa-Design (U-D?) is presented. Consisted of four phases: understanding the use context, pre-preliminary usability assessment (efficiency/effectiveness/satisfaction); assessment of usability principles and results, U-D? features are modular and flexible, allowing principles used in Phase 3 to be changed according to the needs and scenario of each situation. With qualitative/quantitative measurement scales of easy understanding and application, the model results are viable and applicable throughout all the product development process.     

Allais for the poor: Relations to ability,information processing,and risk attitudes

This paper complements evidence on the Allais paradox from advanced countries and educated people by a novel investigation in a poor rural area. The share of Allais-type behavior is indeed high and related to indicators of “lacking ability,” such as poor education, unemployment, and little financial sophistication. Based on prospective reference theory, we extend these characteristics by biased processing of probabilistic information. Finally, we reveal that Allais-type behavior is linked to risk-related characteristics, such as risk tolerance and optimism. This indicates a potential problem as exactly the more dynamic among the poor tend to make inconsistent decisions under uncertainty.