Optimal Digital Rights Management with Uncertain Piracy

Many firms that sell digital copies of copyrighted materials online face a common dilemma: the use of digital rights management (DRM) to impede pirates can impose restrictions on legitimate use. We introduce a two‐period model in which the use of DRM in the first period affects the probability that a consumer finds a pirated copy in the second period; the threat of legal action reduces consumers’ consumption of pirated copies; and firms choose whether to sell, and at what prices, either strongly or weakly DRM‐protected products, or both. Furthermore, we incorporate the role of uncertainty concerning future levels of piracy. Using a two‐period model with uncertainty, we investigate a firm's optimal DRM strategies and present the optimal pricing strategy as well as product launch strategy under different market conditions. We find that one important characteristic of the optimal strategy is that it is optimal to maintain the same product line configuration strategy for both periods. We also characterize the conditions under which each strategy is optimal.     

Continuity and change in work-life balance choices

This paper explores the ways in which the work-life balance choices made by heterosexual couples differ in different generations, how such choices are gendered, and the extent to which 'individualization' provides an adequate conceptualization of the effects of social change on heterosexual couples. It argues that processes of individualization need to be seen in the context of changing social institutions, and that it is the de-institutionalization of 'the family' and the life course that is leading to a de-gendering of work-life balance choices. The paper draws on findings from a restudy of the family and social change and a study of the gender dimensions of job insecurity both of which were carried out in the same geographical location. The studies provide evidence of generational change in work-life balance choices and increasing occupational differentiation between heterosexual partners. This leads to a situation where increasingly choices are made which blur gendered boundaries and which has been made possible by a process of de-institutionalization of the male breadwinner family. Our findings support the contention that processes of individualization are more apparent amongst younger than older generations and that, because of changes external to the family, there is more negotiation and pragmatism amongst younger generations about work-life choices.     

Abuse of elderly male client: efforts and experiences in rural and urban adult protective services

Elder abuse has not been viewed as seriously as child abuse because of the emotional sensibilities attached to child abuse. Although elder abuse is experienced disproportionately by women, men also are in need of protection and engagement. An important factor for understanding the work with elderly men is the social construction of manhood. Both urban and rural settings recognize this as a significant starting point to engage men in services. This paper describes the efforts in both rural and urban Adult Protective Service agencies to identify and work with abused elderly men from a strengths and solution-focused perspective.     

Community-managed water supplies in Africa: sustainable or dispensable?

Over the past two decades, community management has become theprevalent model for management of rural water supplies throughoutsub-Saharan Africa. Despite its widespread popularity amongdonors and implementing agencies, low water supply sustainabilitylevels throughout the sub-continent indicate that it is notthe panacea it is often presented to be. There is a strong needto distinguish between ‘community participation’which is a prerequisite for sustainability and ‘communitymanagement’ which is not. If community management systemsare to be sustainable, they require ongoing support from anoverseeing institution to provide encouragement and motivation,monitoring, participatory planning, capacity building, and specialisttechnical assistance. If such support is not available, alternativessuch as household water supplies and private sector servicedelivery should be considered.     

The Experience-Earnings Profile: Productivity-Augmenting or Purely Contractual? Evidence from the UK

We test the human capital interpretation of the experience-earnings profile. Does the upward sloping portion of the experience-earnings profile reflect on-the-job training which in turn causes the experience-productivity profile to slope upwards, or do purely contractual factors determine the nature of life-cycle earnings. Herein, we provide additional evidence on the relationship between productivity and earnings by examining earnings differentials in the UK academic labor market for economists. Using a test first suggested by Mincer, we find that the empirical results are consistent with human capital theory. We find that, although the positive relationship between earnings and experience persists when individual productivity measures are included in the salary equations for lecturers and senior lecturers, the positive relationship becomes statistically insignificant when the same productivity measures are included in the salary equations for professors. For lecturers and senior lecturers, the experience-salary profile properly reflects the structure of the national pay scale rather than variations in individual research productivity. At the professor level, where individual salaries are not determined by a pay scale, the data support the human capital explanation of the positive experience-earnings profile.

A NOTE ON HOLDING COSTS AND LOT-SIZE ERRORS

This note examines the sensitivity of the basic economic-order-quantity inventory model to lot-size errors when holding costs are assumed to be a strictly increasing (though not necessarily linear) function of average inventory. In particular, we show that the penalty associated with ordering either too much or too little is a function not only of the size of the error but of the shape of the holding-cost curve as well. We demonstrate that, under certain conditions, even relatively small lot-size errors can be extremely costly.     

FORECAST EVALUATION OF LIVINGSTON DATA ON INFLATION RATES AND INFLATION UNCERTAINTY*

Livingston data on expected inflation rates have been used extensively in the financial literature, especially in investgating the relationship between nominal interest rates and expected inflation rates; however, the data have not been subjected to a thorough analysis of forecast accuracy. The objective of this paper is to analyze the forecast properties of Livingston data using a wide variety of time and frequency domain methods over an extended sample period and for selected subperiods.     

STOCHASTIC COST-VOLUME-PROFIT ANALYSIS WITH A LINEAR DEMAND FUNCTION

In this paper we incorporate a linear demand function to model the price-volume causal relationship into stochastic cost-volume-profit (CVP) analysis. We assume that the objective function is to maximize expected profit; other objective functions are also discussed and compared. A linear stochastic model follows from which probabilistic statements can be easily obtained if the random variables are assumed to be multivariate normal. The basic framework is shown to be a special case of project value maximization where project value is the cash flow of the project discounted for time and risk according to the capital asset pricing model. Moreover, an intertemporal extension that considers inventory is developed. In summary, a new approach to stochastic CVP analysis that incorporates the management decision process in an uncertain environment is developed.     

Family transitions in Young Adulthood

Using the first (1995) and third (2001-2002) waves of the Add Health survey, we examine women 's family transitions up to age 24. Only a third of all women marry, and a fifth of those marriages dissolve before age 24. Three out of eight women have afirst birth, with a substantial majority of those births outside of marriage: 66% for whites, 96% for blacks, and 72% for Mexican Americans. Cohabitation is the predominant union form; 59% of women cohabit at least once by age 24. Most cohabitations are short lived, with approximately one in five resulting in a marriage. We summarize the family and relationship experience of women up to age 24 in terms offour categories, each accounting for roughly a quarter of all women. Category 1 has the women who remain single nonparents. Category 2 has the early marriers, women whose marriage is not preceded by a first birth. Category 3 has those who become single parents. Category 4 has the women who cohabit at least once, but who do not marry or have a birth by age 24. The strictly ordered transitions of the 1950s are long gone and have been replaced by a variety of paths to adulthood.