A Bootstrap Test for Circular Data

In this article, variance stabilizing filters are discussed. A new filter with nice properties is proposed which makes use of moving averages and moving standard deviations, the latter smoothed with the Hodrick-Prescott filter. This filter is compared to a GARCH-type filter. An ARIMA model is estimated for the filtered GDP series, and the parameter estimates are used in forecasting the unfiltered series. These forecasts compare well with those of ARIMA, ARFIMA, and GARCH models based on the unfiltered data. The filter does not color white noise.     

Environmental and economic assessment for the optimal configuration of a sustainable solid waste collection system: a ‘kerbside’ case study

The article presents a case study concerning the improvement of the ‘kerbside’ waste collection system, now increasingly implemented in many Italian municipalities, as an alternative to traditional bring collection, with the aim of increasing the quality of waste collection and the collection rate, in order to reduce the final impact on the environment. A planning model for an integrated waste management system based on kerbside collection is presented. A heuristic procedure is also applied in order to obtain some admissible solutions of the real problem in reasonable computational time. The economic and environmental impacts are considered as significant elements for the evaluation and validation of the obtained solutions. Five alternative configurations of kerbside system, diverging in number of sub-area, synchrony of vehicles and directionality of the arcs, are compared in an economic point of view. Finally, Life-Cycle Assessment is used as a tool to compare the overall potential environmental impacts of the alternative of kerbside collection systems and also to compare the kerbside system with the traditional bring one. The different scenarios of kerbside system are comparable in terms of damage on the impact categories, while the bring system is the worst one, in terms of damage on human health, in the consumption of resources and also for the total damage score.     

The tone of business model disclosure: an impression management analysis of the integrated reports

The rising emphasis on the business model (BM) as a reportable element reflects the view that it constitutes one of the key starting points for investors’ analysis. In spite of this, recent academic and professional studies describe current reporting on BMs as uninformative: too optimistic, generic and incomplete. The International Integrated Reporting Council (IIRC) claims that these limitations may be overcome by means of an “Integrated Report”, an innovative report which is expected to offer a complete and balanced representation of how organizations create value by mean of their BMs. The paper investigates the informativeness of BM disclosure questioning whether companies adopt impression management (IM) strategies by manipulating the tone of the BM disclosures provided in their reports. We perform a manual content analysis of all the reports identified in the IIRC website and a multivariate statistical analysis to assess if a positive tone of BM disclosure is significantly associated with weak corporate governance, bad performance and low verifiability of the disclosure itself. Our findings support the idea that managers use BM disclosure as an IM strategy. This evidence has relevant implications for both accounting scholars and practitioners, since it questions the role of integrated reporting in improving corporate reporting on BMs.     

The role and significance of endogenous firing costs in a matching model with endogenous job destruction

Traditional models of the labor market assume fixed firing costs. This paper explores the implications of variable firing costs, building this new assumption into a matching model with endogenous job destruction. The available evidence on the outcomes of cases brought to labor courts suggests that firing costs are negatively related with labor market tightness. In such a case, we may no longer invoke “rigidities” on labor markets as the cause of their poor performance. Our model yields three interesting results. First, labor markets may have multiple equilibria that cannot be Pareto-ordered; each with its own configuration in terms of average duration of unemployment and filled jobs, as well as employment protection. Second, the variability of firing costs produces a positive externality affecting the stability properties of these equilibria. Finally, the two externalities affect the efficiency of the social optimum, modifying the Hosios [Hosios, A.J., 1990. On the efficiency of matching and related models of search and unemployment. Review of Economic Studies 57, 279–298] condition. We use these results to interpret the recent history of European unemployment.     

Reputational cues in repeated trust games

The importance of reputation in human societies is highlighted both by theoretical models and empirical studies. In this paper, we have extended the scope of previous experimental studies based on trust games by creating treatments where players can rate their opponents’ behavior and know their past ratings. Our results showed that being rated by other players and letting this rating be known are factors that increase cooperation levels even when rational reputational investment motives are ruled out. More generally, subjects tended to respond to reputational opportunities even when this was neither rational nor explainable by reciprocity.     

An Indicator for the Measurement of Political Participation: The Case of Italy

In the modern globalized world, political participation is of paramount importance for balanced socio-economic growth and for human development. The Indagine Multiscopo sulle famiglie, a survey by Italian public institutions (ISTAT and CNEL), provides a wide range of data to evaluate specific aspects of Italian life. This work uses a set of data from the Indagine to analyse political participation in Italy at a regional level, by means of a composite indicator using parametric (Pena’s distance) and non-parametric (Mazziotta–Pareto Index) techniques. We have obtained a ranking that shows the level of political participation in different territorial contexts. The aim is to analyse the relation between Italian regions and the political behaviour of their communities: political discussions, participation in political meetings and marches, voluntary activity or donations to political parties and so on. The ranking is not correlated to voter turnout. We can assume that the politically engaged minority are unable to convince and involve the rest. At the same time, these small groups do not alter the general mistrust in parties and, generally speaking, in politics, which is spreading across Italy and also Europe.     

Finding disjoint paths on edge-colored graphs: more tractability results

The problem of finding the maximum number of vertex-disjoint uni-color paths in an edge-colored graph (called MaxCDP) has been recently introduced in literature, motivated by applications in social network analysis. In this paper we investigate how the complexity of the problem depends on graph parameters (namely the number of vertices to remove to make the graph a collection of disjoint paths and the size of the vertex cover of the graph), which makes sense since graphs in social networks are not random and have structure. The problem was known to be hard to approximate in polynomial time and not fixed-parameter tractable (FPT) for the natural parameter. Here, we show that it is still hard to approximate, even in FPT-time. Finally, we introduce a new variant of the problem, called MaxCDDP, whose goal is to find the maximum number of vertex-disjoint and color-disjoint uni-color paths. We extend some of the results of MaxCDP to this new variant, and we prove that unlike MaxCDP, MaxCDDP is already hard on graphs at distance two from disjoint paths.     

Themed section: the person-centred turn in welfare policies: bad wine in new bottles or a true social innovation?

This themed section is aimed at evaluating different personalised policies and at drawing a clear map of opportunities and challenges for future implementations. All the essays are based on evaluative researches and on original case studies. They concern different policies: the Australian National Disability Scheme (NDIS) a first serious venture into personalised funding; personalisation in the management of offenders in probation services within the English criminal justice system; social care services for young disabled people attempting to personalise their transition from childhood into adulthood (in Redbridge, UK); health personal plans for disabled people (in Sardinia, Italy). These case studies address the question of how transferable the concept of personalisation is from the social care sector to other and outline different methodologies for developing and evaluating person-centred policies. Last but not least they reflect on a bundle of issues which seem to emerge autonomously from such different case studies. We can sum up their results affirming that personalisation is not an individual consumer-client technology, simply confronted with a single market context and new professionals. It has to be steered within an appropriate context, including new type of professionals, users' led associations and a new governance's architecture. If the public role has to shape freedom and control, helping people to exercise choice in a collectively responsible way and, consequently, to participate in creating public goods, then the person-centred turn will have to confront, at least, some emergent issues, which in turn need specific forms of governance.     

Labour Supply: Which Theory? A Critical Empirical Assessment

ABSTRACT The aim of this paper is to test econometrically a number of models of labour supply which fall within the neoclassical and Keynesian theories, in an attempt to obtain indications of validation of the theories themselves. The econometric assessment, carried out with a cohort approach to labour supply, shows that Italian female participation rates react well to the variables belonging to both the neoclassical versions of models — with the exception of the version regarding intertemporal choices — and the Keynesian ones. Both in terms of testing for the selection of alternative regression models, such as those for non-nested hypotheses and for selection of regressors, and of “internal” investigation within the estimated models, the results obtained are not without ambiguity. They therefore leave open the question as to which theory can explain labour supply in the most significant and appropriate way.     

Scenario planning,cognition, and strategic investment decisions in a turbulent environment

We explore how scenario planning contributes to cognitive dynamics and strategic investment decisions in a changing environment. Our research is based on an in-depth, longitudinal case study of Shell's ventures in Russia between 1994 and 2016. We show that Shell's scenarios did not foresee some major events that occurred in the turbulent Russian energy market. However, the scenarios envisaged the rising role of gas, the strategic relevance of the gas transportation infrastructure, and the growing interventionism of the Russian government. The scenarios thus helped Shell's managers to adapt their strategic beliefs and ultimately enabled them to notice, assess, and respond successfully to external changes—even though these changes had not been foreseen in the scenarios. Shell has been the first (and, for almost a decade, the only) foreign company to produce and export gas from Russia.