A Probabilistic Dealing Strategy

A probabilistic dealing strategy is proposed which allows all premium brands in an established market to earn nonnegative profits without cooperation. Following the strategy, brands take turns attracting deal-responsive customers. Relative to a reactive competitive strategy, the proposed strategy improves the positions of all premium brands. With use of the strategy, average deal sizes are positively related to a brand's market share, the proportion of quality conscious customers, the proportion of informed customers, the span of regular prices in a market, and the range of customers' acceptable prices.     

THE EFFECTS OF MACROECONOMIC CONDITIONS AT GRADUATION ON OVEREDUCATION

This article shows that unfavorable economic conditions at graduation decrease the likelihood of a good job‐worker match over a worker's subsequent career. Mismatch is quantified in terms of overeducation by both industry and occupation. The German Socio‐Economic Panel and region‐level unemployment rates from 1994 to 2012 are used. Instrumental variables estimates account for endogenous graduation timing. A single percentage point increase in regional unemployment causes an increase in the probability of overeducation of 1.6–1.7 percentage points for university graduates. Effects for technical tertiary education and apprenticeship graduates are smaller. Labor market entry conditions affect workers for up to 9 years after graduation. (JEL J23, J22, E32, I23)     

Assessing the contribution of fallen autumn leaves to airborne fungi in an urban environment

Urban Ecosystems - Many street trees in urban areas are deciduous and drop leaves during autumn. These leaves are a potential growing substrate for fungi, which when aerosolized and inhaled, can...     

The Global Alliance for Public Relations and Communication Management: Origins,influences, issues and prospects

This paper chronicles the formation and development of the Global Alliance for Public Relations and Communication Management (GA) up to 2002. It sets the GA's genesis within the context of other internationalisation initiatives undertaken by the wider public relations practitioner community and draws links between the formation of the GA and the emerging phenomenon of globalisation. The paper's intent is to describe the formation of the GA from a historical perspective, to understand the forces that led to its creation and to appreciate the different drivers and motivation of founding members. These factors provide a springboard to consider some of the issues that currently challenge GA, some of which were inherent in the governance model it chose at its inception.     

An Empirical Investigation of Corporate Citizenship in Australia and Turkey *

This paper describes a study of corporate citizenship practices and its relationship to dimensions of internal and external corporate culture, customer loyalty and organizational commitment. Empirical data was collected from a cross‐industry sample in Turkey and Australia using a questionnaire form developed and validated for other cultures. It was shown that Australian and Turkish firms' practices differed significantly on a number of important variables, but also that it is possible to compare corporate citizenship practices in a way that is not culture‐specific.     

Let's Call it Quits: Break‐Even Effects in the Decision to Stop Taking Risks

“Chasing” behavior, whereby individuals, driven by a desire to break even, continue a risky activity (RA) despite incurring large losses, is a commonly observed phenomenon. We examine whether the desire to break even plays a wider role in decisions to stop engaging in financially motivated RA in a naturalistic setting. We test hypotheses, motivated by this research question, using a large data set: 707,152 transactions of 5,379 individual financial market spread traders between September 2004 and April 2013. The results indicate strong effects of changes in wealth around the break‐even point on the decision to cease an RA. An important mediating factor was the individual's historical long‐term performance. Those with a more profitable trading history were less affected by a fall in cash balance below the break‐even point compared to those who had been less profitable. We observe that break‐even points play an important role in the decision of nonpathological risk takers to stop RAs. It is possible, therefore, that these nonpathological cognitive processes, when occurring in extrema, may result in pathological gambling behavior such as “chasing.” Our data set focuses on RAs in financial markets and, consequently, we discuss the implications for institutions and regulators in the effective management of risk taking in markets. We also suggest that there may be a need to consider carefully the nature and role of “break‐even points” associated with a broader range of nonfinancially‐focused risk‐taking activities, such as smoking and substance abuse.     

Rethinking a universal framework in the psychiatric symptom-disorder relationship

Research on disparities in health and services should include a critical examination of how social, cultural, and contextual factors affect the connection between symptoms and psychiatric disorders. Systematic differences in this connection by these factors will mean that clinicians using a universalist approach to disorders may make more diagnostic errors for certain patients (e.g., ethnic minorities, the poor). Based on the literature on normative clinical decision-making, this study tests for whether the effect of specific psychiatric disorders on key symptoms is the same for certain groups of the population. The data come from the National Comorbidity Survey. Conditional probabilities of disorders and symptoms, the elements feeding into clinical decision-making, are calculated and tested for equivalence across various racial/ethnic, educational, income, and gender groups. We find some significant differences in the relation of key symptoms to disorders across groups. These findings should encourage testing relativistic frameworks in diagnostic nosology as a step to improve clinical decision-making and reduce diagnostic and treatment disparities in mental health services.