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.     

Male bisexuality and condom use at last sexual encounter: results from a national survey

Relatively little is known about condom use among bisexual men as separate and distinct from exclusively homosexual and heterosexual men. Most previous research on bisexual men has relied on non-probabilistic, high risk samples with limited generalizability. We examined the relationship between male behavioral bisexuality and condom use in the 2002 cycle of the National Survey of Family Growth (NSFG). Bisexually-active men positively differed from heterosexually- and homosexually-active men on every indicator of confounding risk. However, bisexually-active men did not report using condoms less often than other men during their last sexual encounters with males and females. Indeed, with female partners, bisexually-active men reported higher rates of condom use than other men. These relationships remained when all sociodemographic and confounding risk factors were held constant. Our results suggest that caution must be used when making assumptions about condom use in the general population of bisexual men from non-probabilistic samples.     

Self-perception of Gambling Problems among Adolescents Identified as At-risk or Problem Gamblers

The relative influence of perceived familial addictive behaviors and personal gambling behaviors on adolescents' self-perceptions of gambling problems was examined. Students from five high schools in Connecticut (N = 3,886) were surveyed. Of those between the ages of 14 and 17 who scored two or more on the South Oaks Gambling Screen--Revised for Adolescents (n = 532; 72% male; 43% Caucasian), 14.3% reported having a current or past problem with gambling. Wagering larger amounts in a single day, gambling on a daily basis, and perceived presence of a family member with a gambling problem were associated with increased odds of self-perception of a gambling problem. Thus, adolescents who may be less likely to be identified for prevention efforts (due to lack of engagement in high stakes gambling or the real/perceived absence of a problematic gambler in the home) appear less likely to perceive a gambling problem. To advance prevention and treatment strategies, the apparent discrepancy between adolescents' self-perceptions and objective reports of problem gambling behaviors warrants further investigation.     

The Transitional Discharge Model: comparing implementation in Canada and Scotland

Effective discharge planning is needed to facilitate clients' transition from psychiatric hospital wards to community care. Previous studies have shown that client outcomes can be improved by using a Transitional Discharge Model (TDM) that includes peer support and an extension of inpatient-practitioner relationships that are introduced prior to discharge. However, countries vary in many ways that may affect implementation of the model. This article describes some of the similarities and differences related to introducing transitional discharge in two countries: Canada and Scotland. It is important to elucidate facilitators and challenges in implementing the TDM to identify and disseminate strategies to aid implementation. Implications for future implementation of the model are also discussed.     

Do hostile sexual beliefs affect men's perceptions of sexual-interest messages?

This study tested the distorted cognitions component of Hall and Hirschman's (1991) quadripartite model of sexual aggression. Men (N = 107) with and without hostile sexual beliefs viewed erotic slides with a female partner who provided one of four patterns of feedback: clear disinterest, token disinterest, compliant interest, and clear interest. Hostile men reported fewer differences between women, were unresponsive to their partner's perceived embarrassment, and reported a consistent positive mood regardless of her feedback. Conversely, nonhostile men were more responsive to feedback, mirrored the partner's embarrassment, and experienced a less positive mood when she communicated clear disinterest in the erotica. These findings support the distorted cognitions component of the quadripartite model of sexual aggression. The authors also discuss the strengths and limitations of this study's methodology.     

Unplanned sexual activity as a consequence of alcohol use: a prospective study of risk perceptions and alcohol use among college freshmen

OBJECTIVE: The authors' goal was to show how risk perceptions regarding unplanned sexual activity following alcohol use are prospectively related to subsequent alcohol consumption. PARTICIPANTS: Undergraduate students (N = 380) completed questionnaires at 2 time points during their freshman year. METHODS: In the middle of the academic year (T1), students estimated their risk of engaging in unplanned sex and reported their alcohol use during the previous term. Four months later (T2), they again reported alcohol use and indicated whether they had engaged in unplanned sex since T1. RESULTS: Students who consumed more alcohol at T1 rated their risk of unplanned sex more highly, suggesting relative accuracy. Those with higher risk perceptions consumed more alcohol at T2 (controlling for T1 use), suggesting that they maintained the high-risk behavior. Last, those who were unrealistically optimistic (ie, estimated low risk at T1 yet had unplanned sex by T2) reported greater alcohol use at T2. CONCLUSIONS: These findings highlight the role that risk perceptions regarding sexual activity may play in college students' alcohol use.     

Maintenance of skilled performance with age: a descriptive examination of professional golfers

Demographic studies indicate a remarkable aging trend in North America. An accurate profile of the decline in physical and cognitive capabilities over time is essential to our understanding of the aging process. This study examined the maintenance of skilled performance across the careers of 96 professional golfers. Data were collected on scoring average, driving distance, driving accuracy, greens in regulation, putts per round, and number of competitive rounds played using online data archives. Analyses indicate that performance in this activity can be maintained to a greater extent than in activities relying on biologically constrained abilities. Although the generalizability of these results to "normal" aging populations is not known, they suggest that acquired skills can be maintained to a large extent in the face of advancing age.     

The Experience-Earnings Profile: Productivity-Augmenting or Purely Contractual? Evidence from the UK

We test the human capital interpretation of the experience-earnings profile. Does the upward sloping portion of the experience-earnings profile reflect on-the-job training which in turn causes the experience-productivity profile to slope upwards, or do purely contractual factors determine the nature of life-cycle earnings. Herein, we provide additional evidence on the relationship between productivity and earnings by examining earnings differentials in the UK academic labor market for economists. Using a test first suggested by Mincer, we find that the empirical results are consistent with human capital theory. We find that, although the positive relationship between earnings and experience persists when individual productivity measures are included in the salary equations for lecturers and senior lecturers, the positive relationship becomes statistically insignificant when the same productivity measures are included in the salary equations for professors. For lecturers and senior lecturers, the experience-salary profile properly reflects the structure of the national pay scale rather than variations in individual research productivity. At the professor level, where individual salaries are not determined by a pay scale, the data support the human capital explanation of the positive experience-earnings profile.

AN ANALYSIS OF CAPACITY PLANNING PROCEDURES FOR A MATERIAL REQUIREMENTS PLANNING SYSTEM*

This paper is concerned with planning work-center capacity levels in manufacturing firms that employ a material requirements planning (MRP) system. It presents four procedures for developing work-center capacity plans designed to insure the production of components and assemblies as specified by the MRP plan and the master production schedule (MPS). These procedures (capacity planning using overall factors, capacity bills, resource profiles, and capacity requirements planning) are compared using simulation analysis. The results indicate that the performance of a procedure when measured against the MPS depends on the operating conditions of the manufacturing system. The results also indicate that the choice of a particular procedure often represents a compromise among the benefits of improved MPS performance, the costs of preparing and processing data, and the premium expenses required for more frequent adjustments in work-center capacity levels.     

Correlation in a Bayesian framework

The authors consider the correlation between two arbitrary functions of the data and a parameter when the parameter is regarded as a random variable with given prior distribution. They show how to compute such a correlation and use closed form expressions to assess the dependence between parameters and various classical or robust estimators thereof, as well as between p‐values and posterior probabilities of the null hypothesis in the one‐sided testing problem. Other applications involve the Dirichlet process and stationary Gaussian processes. Using this approach, the authors also derive a general nonparametric upper bound on Bayes risks.