Futures forecasting for strategic planning at general electric

Without in any way denying that there are forces for stability, I want to state, as strongly as I can, my conviction that change is now more rapid, more complex and more pervasive than ever before in human history. There are forces loose in the world, particularly in the ‘post-industrial society’ of the United States, that go far beyond the youth movement in creating change. As a result, it is utterly unrealistic to pretend that business can continue to plan its strategies in the traditional mode.     

Methods for exploring treatment effect heterogeneity in subgroup analysis: an application to global clinical trials

Multi‐country randomised clinical trials (MRCTs) are common in the medical literature, and their interpretation has been the subject of extensive recent discussion. In many MRCTs, an evaluation of treatment effect homogeneity across countries or regions is conducted. Subgroup analysis principles require a significant test of interaction in order to claim heterogeneity of treatment effect across subgroups, such as countries in an MRCT. As clinical trials are typically underpowered for tests of interaction, overly optimistic expectations of treatment effect homogeneity can lead researchers, regulators and other stakeholders to over‐interpret apparent differences between subgroups even when heterogeneity tests are insignificant. In this paper, we consider some exploratory analysis tools to address this issue. We present three measures derived using the theory of order statistics, which can be used to understand the magnitude and the nature of the variation in treatment effects that can arise merely as an artefact of chance. These measures are not intended to replace a formal test of interaction but instead provide non‐inferential visual aids, which allow comparison of the observed and expected differences between regions or other subgroups and are a useful supplement to a formal test of interaction. We discuss how our methodology differs from recently published methods addressing the same issue. A case study of our approach is presented using data from the Study of Platelet Inhibition and Patient Outcomes (PLATO), which was a large cardiovascular MRCT that has been the subject of controversy in the literature. An R package is available that implements the proposed methods. Copyright © 2014 John Wiley & Sons, Ltd.     

Can ranking techniques elicit robust values?

This paper reports two experiments which examine the use of ranking methods to elicit ‘certainty equivalent’ values. It investigates whether such methods are able to eliminate the disparities between choice and value which constitute the ‘preference reversal phenomenon’ and which thereby pose serious problems for both theory and policy application. The results show that ranking methods are vulnerable to distorting effects of their own, but that when such effects are controlled for, the preference reversal phenomenon, previously so strong and striking, is very considerably attenuated.

PREDICTORS OF STRESS AMONG AUSTRALIAN FARMERS

Australian farms continue to suffer economic pressure which directly and indirectly produces stress among farm family members. This study uses qualitative and quantitative data to isolate factors which predict stress, Financial condition, perception of what is at stake, the combination of on-farm and off-farm obligations and the general frustrations of farm life are found to predict stress among both men and women. Gender relations and attachment to farm life emerge as stronger predictors for women, while youth is a stronger predictor for men. The study concludes that attempts to develop and preserve the family farm may be creating stressful situations which threaten the family relations upon which the farming system is based.     

Coal demand,market forces,and U.S. coal mine closures

Economic transitions have the potential to displace workers and cause social unrest. Coal mine closures and the resulting employment losses in rural areas have become salient issues. Using data on coal mine and power plant operation, we model closure as a function of expected profits, which allows us to compare the effects on mine closure of specific demand and supply shocks to expected mine profits. Increasing costs of production have had a large impact on closures, but lower natural gas prices and lower electricity demand have played more recently important roles.     

Toward a History of Psychological Expertise

In honor of the 60th anniversary of SPSSI's founding, this issue examines the ascendence of psychological expertise in American society. After World War II, psychology grew as the public accepted the illuminating power and social benefits of psychologists' expert knowledge. In that period, four problems confronted psychological experts as their numbers and influence grew. First, they needed ideas and methods that were new and superior to common sense. Second, experts needed to appear both relevant and objective. Third, psychologists needed to forge alliances with those who held social power in the settings in which they wished to operate. Finally, experts needed to balance the roles of social critic and social engineer.     

Complaining Our Way to Quality: Complaints, Contracts and the Voluntary Sector

The research on which this paper is based is part of a wider study of quality assurance and the voluntary sector. The focus of this paper is on complaints procedures, as part of quality assurance mechanisms, where voluntary agencies are the contracted service providers. The authors argue that, with the introduction of contracting and particularly with its further development, the way in which complaints mechanisms currently operate will need to be revised if they are to be an effective part of the quality assurance process.