Chamber music and organization theory: some typical organizational phenomena seen under the microscope

In this paper I suggest, on the one hand, that organization theory offers an interpretation of the reality of arts producing organizations and, on the other, that the empirical analysis of these realities can supply new input for organization theory. As a practical example of artistic production I refer to an international chamber music festival. Close inspection of chamber music will reveal characteristics that apply to any type of organization. I begin by looking at the nature of arts management and the arts manager. I go on to analyse the characteristics of the production process in the performing arts, which can be seen as communication taking place on three levels: between audience and performers (concept of ‘prosumer’); within the performing group (‘listening ability’); between the author of the written text and the performer/interpreter (‘concept of value’). I finish by showing how in a symboliccultural framework the features identified in the paper can feed back into organization studies.

Time present and time past Are both perhaps present in time future, and time future contained in time past.

T.S. Eliot, Four Quartets     

Relations Between Media,Perceived Social Support and Personal Well-Being in Adolescence

This paper’s main objective is to show relations between interest in media, perceived social support and adolescents’ personal well-being. For this purpose, 1,589 Brazilian adolescents answered a questionnaire containing Cummins’ Personal Well-Being, Vaux’s Social Support Appraisals and Casas’ interest in media scales. The media in study are: The Internet, computer games, video games, computer, cell phone and television. For the data analysis this research used Structural Equation Modeling, a statistical methodology based on the confirmation of hypotheses previously established by theoretical frameworks on data. A final model of relations between media, support and well-being was obtained with a fit considered satisfactory by the literature. Implications of media on adolescents’ well-being based on this model are considered.     

Happiness and Childbearing Across Europe

Using happiness as a well-being measure and comparative data from the European social survey we focus in this paper on the link between happiness and childbearing across European countries. The analysis motivates from the recent lows in fertility in many European countries and that economic wellbeing measures are problematic when considering childbearing. We find significant country differences, though the direct association between happiness and childbearing is modest. However, partnership status plays an important role for both men and women. Working fathers are always happier, whereas working mothers are not, though mothers?? happiness tends to increase with household income.     

Likelihood-based risk estimation for variance-gamma models

Although the variance-gamma distribution is a flexible model for log-returns of financial assets, so far it has found rather limited applications in finance and risk management. One of the reasons is that maximum likelihood estimation of its parameters is not straightforward. We develop an EM-type algorithm based on Nitithumbundit and Chan (An ECM algorithm for skewed multivariate variance gamma distribution in normal mean–variance representation, arXiv:1504.01239, 2015) that bypasses the evaluation of the full likelihood, which may be difficult because the density is not in closed form and is unbounded for small values of the shape parameter. Moreover, we study the relative efficiency of our approach with respect to the maximum likelihood estimation procedures implemented in the VarianceGamma and ghyp R packages. Extensive simulation experiments and real-data analyses suggest that the multicycle ECM algorithm gives the best results in terms of root-mean-squared-error, for both parameter and value-at-risk estimation. The performance of the routines in the ghyp R package is similar but not as good, whereas the VarianceGamma package produces worse results, especially when the shape parameter is small.     

Bayesian joint modelling of benefit and risk in drug development

To gain regulatory approval, a new medicine must demonstrate that its benefits outweigh any potential risks, ie, that the benefit‐risk balance is favourable towards the new medicine. For transparency and clarity of the decision, a structured and consistent approach to benefit‐risk assessment that quantifies uncertainties and accounts for underlying dependencies is desirable. This paper proposes two approaches to benefit‐risk evaluation, both based on the idea of joint modelling of mixed outcomes that are potentially dependent at the subject level. Using Bayesian inference, the two approaches offer interpretability and efficiency to enhance qualitative frameworks. Simulation studies show that accounting for correlation leads to a more accurate assessment of the strength of evidence to support benefit‐risk profiles of interest. Several graphical approaches are proposed that can be used to communicate the benefit‐risk balance to project teams. Finally, the two approaches are illustrated in a case study using real clinical trial data.     

Welfare participation and welfare dependence among the unemployed

We regard individual unemployment duration as an important determinant of individuals welfare dependence. Welfare receipt is modelled for a unique data set of 4,655 Finnish unemployed individuals. A two-stage binomial hurdle model is applied, and estimations are made by both ML and GMM. Disregarding the full interrelation between unemployment and welfare clearly underestimates the importance of the former. Unemployment has a clear impact on both the probability of welfare participation and on welfare dependence among recipients. Using a finite mixture model we find that there is a small minority of unemployed welfare recipients who are locked-in in welfare dependence.All correspondence to Maria Melkersson. We thank participants at the ESPE 2001 conference, João Santos Silva and two anonymous referees for valuable comments. Financial support from Rektor för Åbo Akademi is gratefully acknowledged (Saarela). Responsible editor: Junsen Zhang.