Connected Substitutes and Invertibility of Demand

We consider the invertibility (injectivity) of a nonparametric nonseparable demand system. Invertibility of demand is important in several contexts, including identification of demand, estimation of demand, testing of revealed preference, and economic theory exploiting existence of an inverse demand function or (in an exchange economy) uniqueness of Walrasian equilibrium prices. We introduce the notion of “connected substitutes” and show that this structure is sufficient for invertibility. The connected substitutes conditions require weak substitution between all goods and sufficient strict substitution to necessitate treating them in a single demand system. The connected substitutes conditions have transparent economic interpretation, are easily checked, and are satisfied in many standard models. They need only hold under some transformation of demand and can accommodate many models in which goods are complements. They allow one to show invertibility without strict gross substitutes, functional form restrictions, smoothness assumptions, or strong domain restrictions. When the restriction to weak substitutes is maintained, our sufficient conditions are also “nearly necessary” for even local invertibility.     

End-to-end process management: implications for theory and practice

The term ‘end-to-end’ process management is now commonplace in the language and practice of operations. Managers are encouraged to migrate from functional process management to end-to-end process management to realise a range of performance improvements. However, these improvements are often elusive; the specific challenges associated with such a migration are under-researched. This paper uses a cross-sector study to identify the challenges of end-to-end process management and to generate practical managerial guidance. Three areas are identified that demand particular managerial attention: the need to move beyond process mapping, the role of IT in process management and maintaining the process infrastructure as a strategic asset. More significantly, the findings highlight the need for greater conceptual clarity regarding the end-to-end concept itself. The existing literature suggests that scope is the primary differentiator of the end-to-end process – the requirement to manage an extended boundary from customer order through to customer fulfilment. However, this research suggests that the end-to-end concept is more complex, comprising of three core constructs with seven dimensions: scope (boundary conditions, sequence/flow and controls); scale (resources and input/output transformation) and complexity (interrelationships and orientation). End-to-end process management involves much more than an extended boundary. It requires a systemic perspective and clarity regarding controls and transforming resources.     

An appraisal of key factors in the implementation of occupational stress interventions

Empirical research on stress intervention in organizations, and experience from organizational change programmes in general, indicates that obtaining intended change is often more difficult than it had been conceived to be at the outset. In order to facilitate the accomplishment of stress prevention and effective organizational change, this paper examines the importance of the social and cognitive processes influencing the implementation of any intervention. It states that if change is to be managed skilfully, it is important (1) to create a social climate of learning from failure, (2) to provide opportunities for multi-level participation and negotiation in the design of interventions, (3) to be aware of tacit behaviours that possibly undermine the objectives of interventions, and (4) to define roles and responsibilities before and during the intervention period.     

Leadership,information, and risk attitude: A game theoretic approach

This paper experimentally investigates how risk attitudes mitigate leadership effectiveness in a collective setting with projects that exhibit both free riding and coordination problems. We take two novel approaches: 1) the introduction of economic game theory to psychological studies of leadership, and 2) the application of the leadership ontology of Drath et al. (2008) as a cross-disciplinary integrative framework. Leadership here is focused on the presence or absence of direction, alignment, and commitment as well as antecedent beliefs and practices that are held within a collective (for us, our experimental participants). Our leadership context is stripped down to very minimal conditions: three group members, an investment decision, and the introduction of information regarding group members' attitudes toward risk. We find that the mere mention of risk attitude (whether risky or risk averse) undermines leadership effectiveness in mitigating free riding for our 420 experimental participants. Our study's primary implications lie in the application of game theory methodology to the psychological study of leadership, the introduction of relevant individual difference constructs to economic studies of leadership, and the advocation of the Drath et al. (2008) framework as a helpful integrative mechanism for interdisciplinary leadership research.     

Workplace Flexibility Practices and Corporate Performance: Evidence from the British Private Sector

This paper investigates the relationship between workplace flexibility practices (WFPs) and corporate performance using data from the British Workplace Employment Relations Survey 2004. Disaggregating WFPs into numerical, functional and cost aspects enables the analysis of their relationships to an objective measure of corporate performance, namely workplace financial turnover. Furthermore separate analyses are presented for different types of workplace: differentiated by workforce size; ownership; age; wage level; and unionization. Results show that different types of workplaces need to pay attention to the mix of WFPs they adopt. We find that certain cost WFPs (profit‐related pay, merit pay and payment‐by‐results) have strong positive relationships with corporate performance. However, training delivers mixed corporate performance results, while the extent of job autonomy and the proportion of part‐time employees in a workplace have an inverse association with corporate performance. Given the limited existing research examining disaggregated measures of WFPs and objectively measured corporate performance, this paper offers useful insights for firms, policy makers and the overall economy.     

On the Existence of Monotone Pure‐Strategy Equilibria in Bayesian Games

We generalize Athey's (2001) and McAdams' (2003) results on the existence of monotone pure‐strategy equilibria in Bayesian games. We allow action spaces to be compact locally complete metric semilattices and type spaces to be partially ordered probability spaces. Our proof is based on contractibility rather than convexity of best‐reply sets. Several examples illustrate the scope of the result, including new applications to multi‐unit auctions with risk‐averse bidders.     

Does 'hardiness' predict adaptation to shiftwork?

This longitudinal study examined whether the dimensions of hardiness (commitment, control and challenge) predicted psychological symptoms and dissatisfaction with shiftwork, and whether or not the relationships identified were confounded with neuroticism and extraversion. Female nurses were studied during their first 15 months of shiftwork. Thirty-six nurses worked on a 2-shift (day and evening) schedule throughout and 66 transferred from the 2-shift schedule to a 3-shift (day, evening and night) schedule after 6 months. Hardiness, neuroticism, extraversion and symptoms were measured before the respondents began shiftwork (Stage 1). Symptoms and dissatisfaction were measured after 6 months (Stage 2) and 15 months (Stage 3). Multiple regressions indicated that the hardiness dimensions did not predict dissatisfaction at Stages 2 or 3, or symptoms at Stage 3. They also failed to buffer the effect of night-work on symptoms. However, commitment did predict symptoms at Stages 1 and 2 and challenge predicted symptoms at Stage 2. Although these effects were confounded with neuroticism, commitment showed weak evidence of independent prediction. In general, hardiness was a very poor predictor of shiftwork tolerance.