The price for information about probabilities and its relation with risk and ambiguity

In this article, ambiguity attitude is measured through the maximum price a decision maker is willing to pay to know the probability of an event. Two problems are examined in which the decision maker faces an act: in one case, buying information implies playing a lottery, while, in the other case, buying information gives also the option to avoid playing the lottery. In both decision settings, relying on the Choquet expected utility model, we study how the decision maker??s risk and ambiguity attitudes affect the reservation price for ambiguity resolution. These effects are analyzed for different levels of ambiguity of the act. Operating instructions for the elicitation of the reservation price for ambiguity resolution in an experimental setting are provided at the end of the article.     

The TRIPs agreement and technological innovation

In this paper we attempt to evaluate the possible spill-over of the international agreement on Trade-Related Aspects of Intellectual Property rights (TRIPs for short), underwritten in 1994, regarding economic growth for both wealthy and developing countries. We find that the TRIPs convention has prompted, at the same time, innovation in developing countries and a rise in the per capita income for all the economies involved in international commerce. As a by-product of our research we find that, despite the strong growth of resident patents application after 1995 (the year in which TRIPs came into force), most of the increase in the gross domestic product per capita in developing countries is attributable to the international transfer of technologies, via foreign direct investments.     

Is obesity stigmatizing? Body weight, perceived discrimination, and psychological well-being in the United States

We investigate the frequency and psychological correlates of institutional and interpersonal discrimination reported by underweight, normal weight, overweight, obese I, and obese II/III Americans. Analyses use data from the Midlife Development in the United States study, a national survey of more than 3,000 adults ages 25 to 74 in 1995. Compared to normal weight persons, obese II/III persons (body mass index of 35 or higher) are more likely to report institutional and day-to-day interpersonal discrimination. Among obese II/III persons, professional workers are more likely than nonprofessionals to report employment discrimination and interpersonal mistreatment. Obese II/III persons report lower levels of self-acceptance than normal weight persons, yet this relationship is fully mediated by the perception that one has been discriminated against due to body weight or physical appearance. Our findings offer further support for the pervasive stigma of obesity and the negative implications of stigmatized identities for life chances.     

Turnover and Excess Worker Reallocation. The Veneto Labour Market between 1982 and 1996

This research exploits a large matched employer–employee data set for an Italian region, the Veneto, that is presented here for the first time, in order to analyse job and worker flows. In a first part, the paper computes worker turnover, job turnover, and excess worker reallocation over a time span of 14 years. The results are discussed, and comparisons are made between the quantitative features of the labour market in the Veneto region and those of other labour markets. In a second part, turnover and excess worker reallocation are related to search costs, and new empirical evidence is presented that helps in understanding the connections between search activity, unemployment, and the economic cycle.     

Wild Bootstrap of the Sample Mean in the Infinite Variance Case

It is well known that the standard independent, identically distributed (iid) bootstrap of the mean is inconsistent in a location model with infinite variance (α-stable) innovations. This occurs because the bootstrap distribution of a normalised sum of infinite variance random variables tends to a random distribution. Consistent bootstrap algorithms based on subsampling methods have been proposed but have the drawback that they deliver much wider confidence sets than those generated by the iid bootstrap owing to the fact that they eliminate the dependence of the bootstrap distribution on the sample extremes. In this paper we propose sufficient conditions that allow a simple modification of the bootstrap (Wu, 1986 Wu , C. F. J. ( 1986 ). Jackknife, bootstrap, and other resampling methods . Annals of Statistics 14 : 1261 – 1295 .[Crossref], [Web of Science ®] , [Google Scholar]) to be consistent (in a conditional sense) yet to also reproduce the narrower confidence sets of the iid bootstrap. Numerical results demonstrate that our proposed bootstrap method works very well in practice delivering coverage rates very close to the nominal level and significantly narrower confidence sets than other consistent methods.     

Teaching Employees How to Receive Feedback: A Preliminary Investigation

ABSTRACT

There is a substantial literature on how to deliver feedback to change performance. However, to date no research has been conducted on teaching employees how to effectively receive feedback, even though employee behavior during a feedback session could moderate the effects of feedback. Thus, we developed a list of skills that should be exhibited by an employee while receiving verbal feedback. We then evaluated their acquisition after behavioral skills training using a nonconcurrent multiple-baseline design across participants. The results showed that participants were able to acquire and maintain appropriate feedback receiving behavior.