Commerce on the Stock and Commodity Exchanges [Die Börsenverkehr]

Theory and Society -     

Codependent VAR models and the pseudo-structural form

This paper investigates whether codependence restrictions can be uniquely imposed on VAR models via the so-called pseudo-structural form used in the literature. Codependence of order q is given if a linear combination of autocorrelated variables eliminates the serial correlation after q lags. Importantly, maximum likelihood estimation and likelihood ratio testing are only possible if the codependence restrictions can be uniquely imposed. Applying the pseudo-structural form, our study reveals that this is not generally the case, but that unique imposition is guaranteed in several important special cases.     

Patients' Evaluations of the Mental Health Service at a Health Sciences Campus

Abstract

Health science students, along with the health professionals they hope to become, are at increased risk for certain occupational injuries and illnesses. One of these risks is occupational exposure to blood-borne pathogens, such as human immunodeficiency virus (HIV) and hepatitis, which may result in severe illnesses or even death. Two case studies demonstrate postexposure care of exposed individuals at the University of Texas Medical Branch Student Health Services before and after policy changes and prevention strategies were strengthened in response to exposure incidents.     

Propensity to adopt innovative housing: Development of knowledge indexes

The process by which energy efficient housing alternatives is diffused through society in relation to the information flow is relatively unknown. The major purpose of this study was to validate a continuum of the propensity to adopt alternative housing (passive and active solar, earth sheltered and retrofitted) based on knowledge level. Findings indicate knowledge indices are valid predictors of consumer acceptance of energy efficient housing alternatives. A greater level of knowledge was correlated with respondents willing to adopt an alternative housing type.     

Gamson’s law and hedonic games

This note adds one celebrated coalition formation game due to Gamson (Am Soc Rev 26:373–382 1961a, Am Soc Rev 26:565–573, 1961b) in the list of applications of the theory of hedonic games explored by Banerjee et al. (Soc Choice Welf 18:135–153, 2001) and Bogomolnaia and Jackson (Games Econ Behav 38: 204–230, 2002). We apply their results to study the original Gamson game and offer extensions both to a multi-dimensional characteristics space and to an infinite number of players.     

Buying a pig in a poke: An experimental study of unconditional veto power

We study an ultimatum experiment in which the responder does not know the offer when accepting or rejecting. Unconditional veto power leads to acceptances, although proposers are significantly greedier than in standard ultimatum games, and this is anticipated by responders. We also elicit responders’ willingness to pay for (un)conditional veto power. The bids reveal a large endowment effect.     

The Industry of Illegal Migration: Social Network Analysis of the Brazil‐US Migration System

In this article, we analyse the process of migration by applying a social network methodology. Using the personal network approach, we focus on a case study of the Brazil‐US migration system to analyse the formation of the so‐called “industry of illegal migration”. We suggest that in migration systems, brokerage evolves not only because of historical and cultural changes, but also because the changes emerge within a structured environment in which brokerage can thrive, and this, in turn, causes the social networks to support and produce specialized actors (individuals and organizations) embedded in the “right positions” of the social structure in the migration process. In this particular case study, we suggest that brokerage seems to take place through gender‐oriented networks and the personal experience and structural power of returned migrants. These returned migrants usually have more varied social contacts and types of relationships from which they can obtain richer information about the migration system.     

Verbetrieblichung und betrieblicher Konflikt

Since the 1990s there is an ongoing process of decentralisation and ??Verbetrieblichung?? in German labour regulation. The opening of regional sector-level collective agreements for additional specific bargaining at the plant level is evaluated and discussed by practitioners and scholars very controversially. Critics of the decentralisation trends expect an increase of distributive conflicts inside plants and companies. The article analyses whether there are actually signs for an increase of conflicts in firm-level industrial relations in this context, and if so, under which conditions conflicts are likely to occur. Based in theoretical considerations, the article analyses the influence of different patterns of collective agreements on the incidence of conflicts and the relationship between employers and employees at firm level. Empirical data stems from a representative survey that includes interviews with management and employee representatives from German private sector companies. The data suggest some evidence on the conflict reducing function of industry-level collective agreements. Changes in a firm??s regulation structure appear to increase conflicts.     

Cross-country determinants of life satisfaction: exploring different determinants across groups in society

This paper explores a wide range of cross-country determinants of life satisfaction exploiting a database of 90,000 observations in 70 countries. We distinguish four groups of aggregate variables as potential determinants of satisfaction: political, economic, institutional, and human development and culture. We use ordered probit to investigate the importance of these variables on individual life satisfaction and test the robustness of our results with Extreme Bounds Analysis. The results show that only a small number of factors, such as openness, business climate, postcommunism, the number of chambers in parliament, Christian majority, and infant mortality, robustly influence life satisfaction across countries while the importance of many variables suggested in the previous literature is not confirmed. This remains largely true when the analysis splits national populations according to gender, income, and political orientation also. We thank Stephen Lea, participants at the 30th IAREP conference in Prague and the referees of this journal for comments on earlier versions. Gilles Winkler provided excellent research assistance.