Default and Punishment in General Equilibrium1

We extend the standard model of general equilibrium with incomplete markets to allow for default and punishment by thinking of assets as pools. The equilibrating variables include expected delivery rates, along with the usual prices of assets and commodities. By reinterpreting the variables, our model encompasses a broad range of adverse selection and signalling phenomena in a perfectly competitive, general equilibrium framework. Perfect competition eliminates the need for lenders to compute how the size of their loan or the price they quote might affect default rates. It also makes for a simple equilibrium refinement, which we propose in order to rule out irrational pessimism about deliveries of untraded assets. We show that refined equilibrium always exists in our model, and that default, in conjunction with refinement, opens the door to a theory of endogenous assets. The market chooses the promises, default penalties, and quantity constraints of actively traded assets.     

Frugal innovation for supply chain sustainability in SMEs: multi-method research design

Abstract

In this study, we attempt to establish the missing links between supply chain sustainability and frugal innovation. Our study motivations stem from two facets of the emerging markets: first, the institutional barriers and, second, the resource constraints. We argue that there is a synergy in the concepts of frugal innovation and sustainability in supply chains and there is a need to further explore this synergy. Furthermore, we claim that even in the wake of many success stories in the frugal innovative supply chain management practices from emerging markets such as India, there are very few, if any, attempts made to understand the implications of a sustainability oriented frugal innovations in the particular context. To address this gap, we develop a model to establish the linkage between sustainable supply chains and frugal innovations. Our proposed conceptual framework depicts the hierarchy and interlinks of the identified enablers in developing sustainability oriented frugal innovative capabilities in supply chains. Furthermore, we have empirically validated our theoretical framework using survey data. We observed that most of the interpretive links are supported. These findings extend the understanding of frugal innovation for supply chain sustainability using multi-method research design, while also providing theoretically guidance to managers in the development of frugal innovation capability to achieve sustainability in supply chain in resource constrained environment.     

Big Data and Predictive Analytics and Manufacturing Performance: Integrating Institutional Theory,Resource‐Based View and Big Data Culture

The importance of big data and predictive analytics has been at the forefront of research for operations and manufacturing management. The literature has reported the influence of big data and predictive analytics for improved supply chain and operational performance, but there has been a paucity of literature regarding the role of external institutional pressures on the resources of the organization to build big data capability. To address this gap, this paper draws on the resource‐based view of the firm, institutional theory and organizational culture to develop and test a model that describes the importance of resources for building capabilities, skills and big data culture and subsequently improving cost and operational performance. We test our research hypotheses using 195 surveys, gathered using a pre‐tested questionnaire. Our contribution lies in providing insights regarding the role of external pressures on the selection of resources under the moderating effect of big data culture and their utilization for capability building, and how this capability affects cost and operational performance.     

A study in family planning communication—Direct mailing

It is sometimes stated that direct mailing to individuals in developing countries like India may be wasteful due to the low literacy rate among village people. Direct mailing is a relatively new development in India and comparatively a newer channel of communication. An exploratory study was carried out by the Central Family Planning Institute to test this hypothesis. The observations made showed that direct mailing is practical, controllable, inexpensive, and useful.The information provided by direct mailing seems to cross the barriers of illiteracy. Based on this experience, the Central Family Planning Institute has initiated a large-scale communication action research project in Meerut district in North India where the impact of direct mailing on specific groups is being studied further. It is hoped that such studies would help in developing prototype information material and would provide a methodology to supplement the available channels of communication in a nation-wide family planning program.     

Bayesian shrinkage estimators for a measure of dispersion of an inverse gaussian distribution

The Bayesian shrinkage estimation for a measure of dispersion with known mean is studied for the inverse Gaussian distribution. An optimum choice of the shrinkage factor and the properties of the proposed Bayesian shrinkage estimators are being studied. It is shown that these estimators have smaller risk than the usual estimator of the reciprocal measure of dispersion.     

Communication and diffusion of the iucd: a case study in urban india

In this study the diffusion and adoption framework is used to investigate a family planning innovation. The study indicates the utility of this framework from an analytical point of view both for the researcher to the process by which family planning comes to be adopted, and for the administrator to understand the working of the communications elements of his program.The data indicate that different communications media and informal communications networks are used at different stages of the adoption process. At the awareness stage, messages emanating from the family planning administration make their biggest impact. At the later stages of interest and evaluation, local sources of information become important, and interaction with the clinic staff takes place at high rates.Both husbands and wives are involved in the communications processes, but they have different communication patterns. Both are also involved in the final adoption decision-making processes.     

Agility and resilience as antecedents of supply chain performance under moderating effects of organizational culture within the humanitarian setting: a dynamic capability view

Abstract

This study examines the effects of supply chain agility (SCAG) and supply chain resilience (SCRES) on performance under the moderating effect of organizational culture. We have used the dynamic capability view (DCV) to conceptualize our theoretical models for different phases of humanitarian supply chain (HSC) (pre and post-disaster phases). We used partial least squares (PLS) to examine the proposed research hypotheses using 335 responses gathered from organizations in India using questionnaires designed for a single respondent. The results suggest that SCAG and SCRES are two important dynamic capabilities of supply chain, have significant effects on pre-disaster performance (PRE-DP). The control orientation does not have significant effect on the path joining SCAG and PRE-DP. However, the control orientation has a significant interaction effect on the path joining SCRES and PRE-DP. Similarly, SCRES has significant effect on post-disaster performance (POST-DP) but SCAG has no significant effect on POST-DP. In contrast, the flexible orientation has significant moderation effects on the paths SCAG/SCRES and POST-DP. These findings contribute to our understanding of the differential effect of SCAG/SCRES on supply chain performance in different contexts. The results provide further understanding to develop appropriate strategies for different phases. Finally, limitations of our study and future research are presented.     

Data Gap Analysis,Indicator Selection and Index Development: A Case for Developing Economies

Sustainable Development Goals (SDG) and its measurement is a key policy focus across the globe. Despite existence of several indices and reporting agencies, it is a challenging task to identify progress, specifically in the case of developing economies. These economies are predominantly in Asia and Africa and have a great bearing on global performance. These countries have diverse geographical and cultural elements with an active sub-national institutional framework. Data gap coupled with poor data quality and limited financial support does not help their case. Without appropriate indicator selection and index measurement it is not possible to judge the actual current situation or compare the SDG situation around the world. This paper attempts a practical and simpler approach to overcome the constraints, provide direction and facilitate measurement of SDG position in such countries using the case of India. This is done by identifying gaps, suggesting a tailored approach to indicator selection and measurement and further, developing a suitable index for SDG measurement at the sub-national level. The results and findings should be of great interest for policy making and implementing agencies.

     

On the nature of Suppes–Sen maximal paths in an aggregative growth model

This article investigates the nature of paths in the standard neoclassical aggregative model of economic growth that are maximal according to the Suppes–Sen grading principle. This is accomplished by relating such paths to paths which are utilitarian maximal when an increasing (but not necessarily concave) utility function evaluates each period’s consumption. Dynamic properties of Suppes–Sen maximal paths, which lie entirely above or entirely below the golden-rule, are analyzed. An example is presented in which an explicit form of a consumption function is described, which generates only Suppes–Sen maximal paths. This consumption function is shown to generate consumption cycles, and violate the Pigou–Dalton transfer principle.