Nonparametric Matching and Efficient Estimators of Homothetically Separable Functions

For vectors z and w and scalar v, let r(v, z, w) be a function that can be nonparametrically estimated consistently and asymptotically normally, such as a distribution, density, or conditional mean regression function. We provide consistent, asymptotically normal nonparametric estimators for the functions G and H, where r(v, z, w) = H[vG(z), w], and some related models. This framework encompasses homothetic and homothetically separable functions, and transformed partly additive models r(v, z, w) = h[v + g(z), w] for unknown functions gand h Such models reduce the curse of dimensionality, provide a natural generalization of linear index models, and are widely used in utility, production, and cost function applications. We also provide an estimator of Gthat is oracle efficient, achieving the same performance as an estimator based on local least squares when H is known.     

The Analysis of Crop Variety Evaluation Data in Australia

The major aim of crop variety evaluation is to predict the future performance of varieties. This paper presents the routine statistical analysis of data from late-stage testing of crop varieties in Australia. It uses a two-stage approach for analysis. The data from individual trials from the current year are analysed using spatial techniques. The resultant table of variety-by-trial means is combined with tables from previous years to form the data for an overall mixed model analysis. Weights allow for the data being estimates with varying accuracy. In view of the predictive aim of the analysis, variety effects and interactions are regarded as random effects. Appropriate inferential tools have been developed to assist with interpretation of the results. Analyses must be conducted in a timely manner so that variety predictions can be published and disseminated to growers immediately after harvest each year. Factors which facilitate this include easy access to historic data and the use of specialist mixed model software.     

Corporate Financial Strategies for Global Competitiveness

This paper focuses on the role of corporate financial strategies to improve their market valuations and lower their cost of capital. The identification of successful strategies is accomplished within an overall strategic framework. The paper is built on 12 longitudinal case studies from the Nordic countries to illustrate the linkages between business strategy, firm motivation, and various financial strategies.     

PERFORMANCE OF THE EXPECTED UTILITY METHOD AND TWO OTHER NORMATIVE METHODS IN INSURANCE DECISION MAKING*

In an experiment, thirty-six professional insurance men employed the utility method, the worry method, and the comparison method in two insurance problems to determine the appropriate insurance coverage. It was found that the best act with the utility method almost always was no insurance, whereas the best act with the other two methods tended to be complete insurance. The utility method best act rarely agreed with the subject's actual preferred act, while the comparison method best act usually was the same or almost the same as the actual preferred act. While the worry method suggests that the subjects typically are risk averse, the utility functions obtained tend to show that the subjects typically are not risk averse.     

COMPUTER APPLICATIONS IN TEACHING ECONOMETRICS

In most econometrics courses the students are given limited exposure to the empirical applications of econometric theory. The use of canned programs would make it possible to cover more applied econometric work, and help prepare the students for more empirical work. The computer can be a valuable teaching aid for both instructor and student. The students will also gain valuable experience in the area of computer assisted data analysis. This paper discusses many of the programs appropriate for use in econometrics courses. Examples of problems using programs, and several alternative outlines of possible courses in applied econometrics are presented.     

Expert Views on Their Role as Policy Advisor: Pilot Study for the Cases of Electromagnetic Fields,Particulate Matter,and Antimicrobial Resistance

This perspective presents empirical data to demonstrate the existence of different expert views on scientific policy advice on complex environmental health issues. These views are partly research‐field specific. According to scientific literature, experts differ in the way they provide policy advice on complex issues such as electromagnetic fields (EMF), particulate matter (PM), and antimicrobial resistance (AMR). Where some experts feel their primary task is to carry out fundamental research, others actively engage in the policy dialogue. Although the literature provides ideas about expert roles, there exists little empirical underpinning. Our aim is to gather empirical evidence about expert roles. The results of an international study indicated that experts on EMF, PM, and AMR differ in the way they view their role in the policy dialogue. For example, experts differed in their views on the need for precaution and their motivation to initiate stakeholder cooperation. Besides, most experts thought that their views on the risks of EMF/PM/AMR did not differ from those of colleagues. Great dissensus was found in views on the best ways of managing risks and uncertainties. In conclusion, the theoretical ideal–typical roles from the literature can be identified to a certain extent.     

From organization development to corporate development at Trebor

This article is a case history of a medium-sized, family-owned business where the corporate planning activity has been taken over by the Executive Board, which is concerned with a careful definition and dissemination of company strategy and with focusing action in the form of long-term planning projects. The organizational learning approach is evolutionary and incremental, involving—as in the Japanese style of management— many levels in project development.