Work hours,social value of leisure and globalisation

We examine how openness interacts with the coordination of consumption–leisure decisions in determining the equilibrium working hours and wage rate when there are leisure externalities (e.g., due to social interactions). The latter are modelled by allowing a worker's marginal utility of leisure to be increasing in the leisure time taken by other workers. Coordination takes the form of internalising the leisure externality and other relevant constraints (e.g., labour demand). The extent of openness is measured by the degree of capital mobility. We find that: coordination lowers equilibrium work hours and raises the wage rate; there is a U-shaped (inverse-U-shaped) relationship between work hours (wages) and the degree of coordination; coordination is welfare improving; and, the gap between the coordinated and uncoordinated work hours (and the corresponding wage rates) is affected by the extent and nature of openness.     

Why does class matter? Policy attitudes,mechanisms, and the case of the Nordic countries

In most democracies, classes tend to vary with respect to an array of attitudes and behaviours, and differences are large within a number of European polities. What mechanisms lie behind these differences? Do they relate primarily to individuals’ material interests, as assumed by traditional class theories, or instead, to socialization and self-selection factors? This paper seeks to extend theory and research through an analysis of mechanisms behind class differences in policy attitudes. Our focus is on the Nordic countries, where class differences are extensive and well-documented in past scholarship. We take advantage of high-quality European Social Survey data for Denmark, Finland, Norway, and Sweden. Analyzing three policy arenas and the 9-category European Socio-economic Classification scheme (ESeC), we find evidence that class-related factors help to explain cleavages in attitudes. Comparisons with the more detailed, 103-category International Standard Classification of Occupation scheme (ISCO) suggest that these factors explain less “micro-class” occupational variation. Results shed new light on mechanisms behind class differences, and the empirical foundations of established class theories. These and other implications are discussed in the conclusion.     

Collective empowerment: A comparative study of community work in Mumbai and Stockholm

Mumbai and Stockholm are worlds apart in terms of public services, infrastructures and standard of living. However, both cities have known common problems of social exclusion and marginalisation related to neo‐liberal globalisation. Social workers are facing similar challenges regarding collective empowerment as a strategy for community work. This comparative study explored how collective empowerment is undertaken by community workers. The research participants were 13 informants from community‐work organisations in the two settings. Semi‐structured interviews were used and were analysed with the help of Atlas‐ti 6.2 (ATLAS.ti Scientific Software Development GmbH D‐10623 Berlin Germany). Social work in Mumbai is in a context of extreme poverty and mainly within the informal sector, whereas in Stockholm most social work is done in relation to a public welfare model. In Stockholm, interventions are aimed towards strengthening social networks, without direct aim at social change. In Mumbai, community workers organise people for collective empowerment to strengthen marginalised groups and achieve social change.     

EARLY EVIDENCE ON RECREATIONAL MARIJUANA LEGALIZATION AND TRAFFIC FATALITIES

Over the last few years, marijuana has become legally available for recreational use to roughly a quarter of Americans. Policy makers have long expressed concerns about the substantial external costs of alcohol, and similar costs could come with the liberalization of marijuana policy. Indeed, the fraction of fatal accidents in which at least one driver tested positive for tetrahydrocannabinol has increased nationwide by an average of 10% from 2013 to 2016. For Colorado and Washington, both of which legalized marijuana in 2014, these increases were 92% and 28%, respectively. However, identifying a causal effect is difficult due to the presence of significant confounding factors. We test for a causal effect of marijuana legalization on traffic fatalities in Colorado and Washington with a synthetic control approach using records on fatal traffic accidents from 2000 to 2016. We find the synthetic control groups saw similar changes in marijuana-related, alcohol-related, and overall traffic fatality rates despite not legalizing recreational marijuana. (JEL K42, I12, I18)     

Rényi entropy of m-generalized order statistics

Abstract

Characterizing relations via Rényi entropy of m-generalized order statistics are considered along with examples and related stochastic orderings. Previous results for common order statistics are included.     

The impact of a workplace terrorist attack on employees' perceptions of leadership: A longitudinal study from pre- to postdisaster

A terrorist attack targeting a workplace represents an organizational crisis that requires the leaders to manage emerging threats. The changing roles and expectations of the leaders are reflected in the employees' perceptions of them over time. The purpose of this study was to determine whether the 2011 Oslo bombing attack affected the targeted employees' perceptions of the leadership behaviors of their immediate superiors or the organizational managers' interest in the health and well-being of their workers. Ministerial employees (n ≈ 180) completed questionnaires on fair, empowering, and supportive leadership, in addition to human resource primacy, on two occasions several years prior to the terrorist attack. Assessments were then repeated one, two, and three years after the attack. Changes in the course of perceived leadership from predisaster to postdisaster were examined using bootstrapped t-tests and latent growth curve models. Furthermore, the general course of perceived leadership was compared with a nonexposed control sample of matched employees. Results showed that employees with high levels of posttraumatic stress perceived their immediate leader to be less supportive. However, overall perceptions of leadership were remarkably stable, which suggests that the effects of critical incidents on perceptions of leadership may be negligible.     

When do Public Managers Imitate Each Other? Mimetic Decision Making in Contracting Decisions of Danish Municipalities

Using organizational new institutional theory, this paper explores a core mechanism underlying contracting decisions in public organizations. A central proposition of this branch of institutional theory is that uncertainty leads to organizational isomorphism. The present study investigates this proposition by asking: When does perceived uncertainty lead public managers to imitative behavior in contracting out decisions? Contrary to most previous studies, we apply an individual level approach and relate different types of perceived uncertainty of decision makers to mimetic decision making. We define mimetic decision making as when decision makers deliberately obtain information about other organizations in order to possibly imitate them. In a survey of Danish municipal managers facing important and complex contracting decisions, we test our hypotheses about three types of perceived uncertainty and mimetic decision making. The results show that technological uncertainty is strongly related to mimetic decision making among public managers. However, we do not find significant results for either volume uncertainty or performance uncertainty. The paper illustrates how uncertainty, through mimetic decision making, is connected to organizational isomorphism. It further highlights that future studies should pay attention to the multidimensionality of uncertainty and its consequences.     

Rapid Trading bei deutschen Aktienfonds: Evidenz aus einer großen deutschen Fondsgesellschaft

This paper is the first to examine rapid trading among German equity mutual fund investors. Using data on inflows and outflows provided by a large German mutual fund company for all of its equity funds, we find strong evidence for rapid trading. It is particularly pronounced for small funds, risky funds, funds with low nominal prices, and international funds. However, we find no evidence of market timing activities. Furthermore, unlike in the US, rapid trading is less pronounced for funds with high loads. This shows that rapid trading among German fund investors is not explained by churning due to brokers’ advice. Rather, our results are consistent with the view that some investors use mutual funds for short-term, speculative purposes. The funds among which we observe the strongest rapid trading show lottery-like characteristics. Regarding fund performance, we find (at most) only very weak evidence for a negative impact of rapid trading on fund performance before the fund scandal of 2003, and no evidence afterwards.