Stochastic and Intransitive Behavior in a State-Preference Model of Asset Choice*

Most models of investor behavior assume a time-state independent utility function and result in a deterministic solution where a given set of inputs uniquely specifies the decision. In contrast, a state preference model using a time-state dependent utility function is derived in this paper. The model allows the investment choice decision to be analyzed in a game theoretic context. The general solution is a mixed strategy which allows for a probabilistic interpretation of the decision. The approach presented in this paper can accommodate anomalies such as intransitivity of preference and satisficing as rational behavior. An example of a possible implementation is given along with interpretations of the outcomes.     

An Evaluation of Capacity Sensitive Order Review and Release Procedures in Job Shops

We investigate the performance of capacity-sensitive order review and release (ORR) procedures in job shop environments that have not been previously explored. Previous research has ignored the case of job shops which must perform to very tight due-dates because of time-sensitive customers. We propose and test a new capacity sensitive ORR procedure called path based bottleneck (PBB) in such environments, along with the modified infinite loading (MIL) procedure which has been shown to work well in several studies. We compare the performance of these two controlled release rules with that of immediate release rule under different conditions of capacity utilization and customer specified exogenous duedates. Our results indicate that PBB performs well in lowering total costs when due-dates are tight, while MIL is a better procedure with relatively loose to medium due-dates. We also show that in many cases, the shortest processing time (SPT) dispatching rule is a superior performer than a due-date based rule like critical ratio (CR); a conclusion which is contrary to the existing research in this area. In addition, the shop floor control policies recommended are shown to be sensitive to the cost structure of the firm. The managerial implications of this research in providing effective shop floor control in job shops operating under tight due-date conditions are also discussed.     

Addiction science and the perception of freewill

Do people think individuals with Substance Use Disorder (SUD) have freewill? How does addiction science inform views on the issue? We distinguish between two senses of freewill: 1) libertarian freewill , in which freedom turns on a particular metaphysical conception of action (sometimes operationalized as “could have done otherwise”), and 2) compatibilist freewill , in which freedom depends on the relation between the actor's psychology and her actions (e.g., “was the act what she wanted to do?”). We argue that, in different ways, scientific accounts can impact conceived freewill by linking addictive behavior to mechanisms that observers view as peripheral to the actor ( motivation modularity) . While a variety of impacts on conceived compatibilist freewill are plausible, we argue that contemporary addiction science has no direct bearing on conceived libertarian freewill. Addiction science may, however, indirectly impact conceived libertarian freewill by priming an explanatory framework in which intention is superfluous (especially materialism).     

Opting out of workers’ compensation: Non-subscription in Texas and its effects

Journal of Risk and Uncertainty - Texas is the only state that does not mandate that employers carry workers’ compensation (WC) insurance coverage. In place of traditional WC, companies can...     

Changement technologique et emploi au Brésil,en Colombie et au Mexique: quels sont les travailleurs les plus affectés?

L'analyse, axée sur les tâches, de la structure de l'emploi urbain du Brésil, de la Colombie et du Mexique montre que celui-ci a nettement diminué entre 2002 et 2015 dans des professions semi-qualifiées et augmenté dans les professions faiblement et fortement qualifiées. La décomposition des résultats suggère que le déclin de l'emploi des secrétaires et des sténographes s'explique entièrement par les changements intrabranche (hypothèse de «routinisation»), tandis que dans la conduite des machines et l'artisanat l'explication tient aux changements interbranches. Sous l'angle sociodémographique, le changement technologique affecte négativement les femmes, mais il profite aux travailleurs plus jeunes et plus instruits.     

A Path Analytic Model of a Theory of Quality Management Underlying the Deming Management Method: Preliminary Empirical Findings*

Despite the impact that Deming and his 14 Points have had on the practice of quality management, empirical support for the effectiveness of the Deming Management Method has not advanced beyond the presentation of anecdotal, case-study evidence. In part, this is because theory to guide the conduct of empirical research has not been available. Only recently has such a theory of quality management to describe and explain the effectiveness of the Deming Management Method been articulated in the literature. This paper continues the journey of theory development; it reports the results of an exploratory empirical analysis of an articulated theory of quality management underlying the Deming Management Method. The constructs in the proposed theory are operationalized using measurement statements developed by the World-Class Manufacturing research project team at the University of Minnesota and Iowa State University. Path analysis is applied to the World-Class Manufacturing project data to explore the empirical strength of relationships advanced in the theory. The path analytic results provide support for several of the proposed relationships in the theory, and more importantly, suggest a number of new relationships which have not heretofore been proposed.     

The Role of Self-Conscious Emotions in the Sexual Health of Gay and Bisexual Men: Psychometric Properties and Theoretical Validation of the Sexual Shame and Pride Scale

Researchers have theorized about the role of sexual shame as a mechanism through which sexual minority stress manifests into mental health difficulties, such as sexual compulsivity for gay and bisexual men (GBM), and about the resilience-promoting effects of sexual pride. However, no validated measures to date have directly tapped into these constructs rather than using proxies for them, such as internalized homonegativity. We developed the Sexual Shame and Pride Scale (SSPS) and conducted a psychometric evaluation of it using a sample of 260 highly sexually active GBM. The scale had the expected structure in factor analysis and showed evidence of internal consistency and test–retest reliability. Correlational analyses demonstrated the convergent validity of sexual shame and sexual pride with relevant constructs. Regression analyses demonstrated the predictive validity of sexual shame in relation to sexual compulsivity, accounting for unique variability even after adjusting for previously demonstrated etiological factors, and the predictive validity of both shame and pride, which interacted to consistently predict four sexual behavior outcomes. Findings suggest the SSPS is a psychometrically valid and reliable measure that may be useful in future empirical work and highlight preliminary evidence for the role of these constructs in the sexual health of GBM.