Manaagement practices and employee attitudes: a longitudinal study spanning fifty years

This paper reports findings from a third consecutive study to re‐visit a steelworks that provided a classic elaboration of the industrial enterprise as a social system. The social system of the works in the 1950s (Scott et al., 1956) was used to explain the positive orientation of steelworkers to change. A later study of the plant in 1991 uncovered a remarkably similar positive orientation to change in the plant indicating a number of continuities (Blyton et al., 1996). Despite massive changes affecting the plant between the 1950s and the early 1990s, the social system of the works‐occupational structures and identities and management‐union relations‐were seen as having a continuing bearing on steelworkers’ attitudes to work in general, and their positive orientation to work change in particular. A third study of employee attitudes in the same plant in 1999 revealed important changes had occurred during the 1990s.     

The influence of the COVID-19 lockdown on infants' physiological regulation during mother-father-infant interactions in Switzerland

In this study, we investigated the physiological regulation of vagal tone during dyadic and triadic parent-infant interactions in infants born before or around the COVID-19 lockdown in Switzerland. We hypothesized that there would be a decrease in vagal tone in triadic interactions compared with dyadic interactions, as triadic interactions are more complex and therefore more resource demanding. However, we expected this difference to be smaller for infants who experienced the period of confinement, as the lockdown led parents to spend more time at home. We also hypothesized that parents would have less stressful interactional events in the triadic interaction because they would be used to interacting with the child together. This study included 36 parents with their 3 month-old infants. Eighteen families met the study authors before the onset of the pandemic (pre-COVID) and 18 met them after its onset, having experienced a period of confinement during the infants' first 3 months of life (COVID). Results showed that the COVID group had no decrease in vagal tone during triadic interactions, whereas the pre-COVID group did. This difference could not, however, be explained by less stressful interactional events in triadic interactions, as the COVID group showed more stressful interactional events in mother-father-infant interactions.     

Risk aversion and the value of diagnostic tests

Theory and Decision - Diagnostic tests allow better informed medical decisions when there is uncertainty about a patient’s health status and, therefore, about the desirability to undertake...     

Applications of Bayesian analysis to proof‐of‐concept trial planning and decision making

Decision making is a critical component of a new drug development process. Based on results from an early clinical trial such as a proof of concept trial, the sponsor can decide whether to continue, stop, or defer the development of the drug. To simplify and harmonize the decision‐making process, decision criteria have been proposed in the literature. One of them is to exam the location of a confidence bar relative to the target value and lower reference value of the treatment effect. In this research, we modify an existing approach by moving some of the “stop” decision to “consider” decision so that the chance of directly terminating the development of a potentially valuable drug can be reduced. As Bayesian analysis has certain flexibilities and can borrow historical information through an inferential prior, we apply the Bayesian analysis to the trial planning and decision making. Via a design prior, we can also calculate the probabilities of various decision outcomes in relationship with the sample size and the other parameters to help the study design. An example and a series of computations are used to illustrate the applications, assess the operating characteristics, and compare the performances of different approaches.     

Lifetime Uncertainty and Time Preference

Despite Fisher's (1930) psychological intuitions of and the formal treatment given by Yaari (1965, Review of Economic Studies 32, 137), the intertemporal model of choice is mainly a model with certain lifetime. The purpose of this paper is to reconsider this assumption, starting from a very simple two-period model of choice with lifetime uncertainty. We examine the comparative statics of the model at the first two orders and replace the concept of `pure time preference' by taking into account the subjective treatment of the probability of survival. This revised version was published online in June 2006 with corrections to the Cover Date.     

Change in disability-free life expectancy for Americans 70 years old and older*

In this article, we examine changes in life expectancy free of disability using longitudinal data collected from 1984 through 2000 from two cohorts who composed the Longitudinal Studies of Aging I and II. Life expectancies with and without ADL and/or IADL disability are calculated using a Markov-based multistate life table approach. At age 70, disability-free life expectancy increased over a 10-year period by 0.6 of a year in the later cohort, which was the same as the increase in total life expectancy, both increases marginally statistically significant. The average length of expected life with IADL and ADL disability did not change. Changes in disability-free life expectancy resulted from decreases in disability incidence and increases in the incidence of recovery from disability across the two survey cohorts. Age-specific mortality among the ADL disabled declined significantly in the later cohort after age 80. Mortality for the IADL disabled and the nondisabled did not change significantly. Those with ADL disability at age 70 experienced substantial increases in both total life expectancy and disability-free life expectancy. These results indicate the importance of efforts both to prevent and delay disability and to promote recovery from disability for increasing life expectancy without disability. Results also indicate that while reductions in incidence and increases in recovery work to decrease population prevalence of disability, declining mortality among the disabled has been a force toward increasing disability prevalence.     

COLLABORATE OR CONSOLIDATE: ASSESSING THE COMPETITIVE EFFECTS OF PRODUCTION JOINT VENTURES

We analyze collaborations in which two firms facing external competition reorganize to form an input joint venture as an alternative to horizontal merger. Under standard regularity conditions, the collaboration can lead to higher profits than a horizontal merger, though the effect on prices, quantities, and welfare depends on the form of downstream competition. In light of our results regarding profits, we provide reasons why firms might still wish to merge: imperfect information, cost synergies, and organizational asymmetries. We further consider how our comparisons change with the managerial structure of the joint venture (i.e., by delegation of input pricing). (JEL L13, L23, L42)