Mixed probability models for dry and wet spells

When identifying the best model for representing the behavior of rainfall distribution based on a sequence of dry (wet) days, focus is usually given on the fitted model with the least number of estimated parameters. If the model with lesser number of parameters is found not adequate for describing a particular data distribution, the model with a higher number of parameters is recommended. Based on several probability models developed by previous researchers in this field, we propose five types of mixed probability models as the alternative to describe the distribution of dry (wet) spells for daily rainfall events. The mixed probability models comprise of the combination of log series distribution with three other types of models, which are Poisson distribution (MLPD), truncated Poisson distribution (MLTPD), and geometric distribution (MLGD). In addition, the combination of the two log series distributions (MLSD) and the mixed geometric with the truncated Poisson distribution (MGTPD) are also introduced as the alternative models. Daily rainfall data from 14 selected rainfall stations in Peninsular Malaysia for the periods of 1975 to 2004 were used in this present study. When selecting the best probability model to describe the observed distribution of dry (wet) spells, the Akaike’s Information Criterion (AIC) was considered. The results revealed that MLGD was the best probability model to represent the distribution of dry spells over the Peninsular.     

Why do Emerging Market Firms Engage in Voluntary Environmental Management Practices? A Strategic Choice Perspective

In this paper, we investigate firms’ decisions to engage in voluntary environmental management (VEM) practices within an emerging market context. Drawing on the strategic choice and the resource‐based view perspectives, we report results from a survey of VEM practices – a specific form of self‐governance – drawing on a sample of 519 Turkish firms from various industries to identify important strategic antecedents of firms’ decisions to engage in such practices. We find that as firms become more customer focused, more inclined to pursue a differentiation strategy and subject to a higher level of strategy‐oriented stakeholder focus, they tend to implement higher levels of VEM practices, with important implications for research, policy and practice for both emerging and developed markets.     

Regression model for surrogate data in high dimensional statistics

Abstract

This paper deals with the problem of estimating the regression of a surrogated scalar response variable given a functional random one. We construct an estimator of the regression operator by using, in addition to the available (true) response data, a surrogate data. We then establish some asymptotic properties of the constructed estimator in terms of the almost-complete and the quadratic mean convergences. Notice that the obtained results generalize a part of the results obtained in the finite dimensional framework. Finally, an illustration on the applicability of our results on both simulated data and a real dataset was realized. We have thus shown the superiority of our estimator on classical estimators when we are lacking complete data.     

Bayesian inference for random coefficient dynamic panel data models

We develop a hierarchical Bayesian approach for inference in random coefficient dynamic panel data models. Our approach allows for the initial values of each unit's process to be correlated with the unit-specific coefficients. We impose a stationarity assumption for each unit's process by assuming that the unit-specific autoregressive coefficient is drawn from a logitnormal distribution. Our method is shown to have favorable properties compared to the mean group estimator in a Monte Carlo study. We apply our approach to analyze energy and protein intakes among individuals from the Philippines.     

Is Materialism All That Bad? Effects on Satisfaction with Material Life, Life Satisfaction, and Economic Motivation

The literature in economic psychology and quality-of-life studies alludes to a negative relationship between materialism and life satisfaction. In contrast, the macroeconomic literature implies a positive relationship between material consumption and economic growth. That is, materialism may be both good and bad. We develop a model that reconciles these two contrasting viewpoints by asserting that materialism may lead to life dissatisfaction when materialistic people evaluate their standard of living using fantasy-based expectations (e.g., ideal expectations), which increases the likelihood that they would evaluate their standard of living negatively. In turn, dissatisfaction with standard of living increases the likelihood that they would evaluate their life negatively. However, materialistic people who evaluate their standard of living using reality-based expectations (e.g., ability expectations) are likely to feel more economically motivated than their non-materialistic counterparts, and this economic motivation is likely to contribute significantly and positively to life satisfaction. Survey data were collected from seven major cities each in a different country (Australia, Bosnia/Herzegovina, Germany, Egypt, Korea, Turkey, and the USA) using a probability sample (cluster sampling method involving income stratification). The results provide support for the model. The economic public policy implications concerning how people evaluate their standard of living using ability-based expectations are discussed in the context of the ideals of meritocracy.     

A new EPQ model: integrating lower pricing,rework and reject situations

The economic production quantity (EPQ) is a well-known and commonly used inventory control technique. It has been used for well over 50 years to optimize lot sizes in transportation/production. The standard results are easy to apply but are based on a number of assumptions. A common assumption in the EPQ model is that all units produced are of perfect quality, this will underestimate the actual required quantity. Many researchers have studied the effects after relaxing this assumption on the EPQ model. The previous studies had considered that imperfect quality and defective items are either to be reworked instantaneously and kept in stock or rejected at a cost. The objective of this paper is to provide a framework to integrate lower pricing, rework and reject situations into a single EPQ model. A 100% inspection is performed in order to identify the amount of good quality items, imperfect quality items and defective items in each lot. This model assumes that items of imperfect quality, not necessarily defective, could be used in another production situation or sold to a particular purchaser at a lower price. The electronic and clothing industries give good examples for such situations. A mathematical model is developed and a numerical example is presented to illustrate the solution procedures. It is found that the time factor of when to sell the imperfect items is critical, as this decision will affect the inventory cost and the batch quantities.     

Linking Advertising,Materialism, and Life Satisfaction

This paper develops theory related to advertising, materialism, and life satisfaction by formally testing explanations related to the antecedents and consequences of materialism. Survey data were collected from seven major cities each in a different country (Australia, Bosnia/Herzegovina, Germany, Egypt, Korea, Turkey, and the USA) using a probability sample (cluster sampling method involving income stratification). The results showed that the extent to which advertising is perceived to be materialistic contributes to materialism. Materialism, in turn, leads to the frequent use of various standards of comparison in making judgments about standard of living. As judgments about standard of living increase, standard of living is evaluated more negatively. In turn, negative self-evaluations contribute significantly to dissatisfaction with life.     

Perceived Racial Discrimination in Health Care and Race Differences in Physician Trust

Racial discrimination in health care is more often perceived by racial minority patients than by whites. In this study, we explored whether two types of perceived racial discrimination, perceptions that the healthcare system is racially biased in general (perceived institutional racial discrimination) and perceptions that one has personally encountered racial discrimination while seeking health care (perceived interpersonal racial discrimination), mediated racial differences in patients’ trust in physicians. We examined this in a sample of black (N = 127) and white (N = 303) patients being treated in two Veterans Affairs orthopedic clinics for advanced osteoarthritis. Patients completed measures of perceived institutional and interpersonal racial discrimination in health care before meeting with an orthopedic surgeon and a measure of physician trust after the visit. Using a multiple mediator bootstrapping procedure, we tested whether perceived institutional and/or interpersonal racial discrimination mediated the association between race and trust. Compared to whites, blacks reported lower physician trust (M = 4.00 vs. 4.17, β = ?0.15, 95 % CI = ?0.25, ?0.05), more perceived institutional racial discrimination (M = 3.13 vs. 2.60, β = 0.43, 95 % CI = 0.25, 0.61), and more perceived interpersonal racial discrimination (M = 1.94 vs. 1.21, β = 0.60, 95 % CI = 0.47, 0.74). Perceived interpersonal, but not institutional, racial discrimination mediated the race difference in physician trust and accounted for 55 % of the variance. Our finding that lower physician trust among black patients than white patients was explained by perceptions of interpersonal racial discrimination in health care suggests that issues of racial discrimination may need to be addressed in order to foster minority patients’ trust in physicians.     

Labour Policy and Determinants of Employment and Wages in a Developing Economy with Labour Shortage

Using data from a sample of 1,099 workers, this paper investigates the determinants of employment and wages for workers in the United Arab Emirates. The paper further examines the wage distribution and the decomposition of the wage gap between the public and the private sectors. Results of the study are consistent with the dual labour market theory and indicate that the labour market in the United Arab Emirates is segmented based on sectors (public versus private) and types of workers (nationals versus non‐nationals). The study concludes with a discussion of the implication of these findings for the effectiveness of labour and economic policy.