Economics, sociobiology and behavioral psychology on preferences

Economists have become increasingly interested in hypotheses from sociobiology as a source of inspiration for filling gaps in the economic model of behavior. To avoid borrowing eclectically and arbitrarily from neighboring disciplines, this paper attempts to outline in a systematic way the similarities and differences between the approaches taken in economics and sociobiology. In doing so, special attention is given to an empirical theory of preferences that is lacking in economics. Here, inspiration from sociobiology would seem to be particularly useful. The considerations in the paper suggest that sociobiological arguments may indeed be helpful, albeit at a very elementary level only. A more comprehensive theory cannot ignore the influences of innate learning mechanisms in higher living beings. An elaborated theory of preferences in economics will have to acknowledge and incorporate insights from behavioral psychology.     

Phonological Specificity in 12‐ and 17‐Month‐Old French‐Speaking Infants

The literature reports some contradictory results on the degree of phonological specificity of infants’ early lexical representations in the Romance language, French, and Germanic languages. It is not clear whether these discrepancies are because of differences in method, in language characteristics, or in participants’ age. In this study, we examined whether 12‐ and 17‐month‐old French‐speaking infants are able to distinguish well‐pronounced from mispronounced words (one or two features of their initial consonant). To this end, 46 infants participated in a preferential looking experiment in which they were presented with pairs of pictures together with a spoken word well pronounced or mispronounced. The results show that both 12‐ and 17‐month‐old infants look longer at the pictures corresponding to well‐pronounced words than to mispronounced words, but show no difference between the two mispronunciation types. These results suggest that, as early as 12 months, French‐speaking infants, like those exposed to Germanic languages, already possess detailed phonological representations of familiar words.     

A hierarchical model for ordinal matrix factorization

This paper proposes a hierarchical probabilistic model for ordinal matrix factorization. Unlike previous approaches, we model the ordinal nature of the data and take a principled approach to incorporating priors for the hidden variables. Two algorithms are presented for inference, one based on Gibbs sampling and one based on variational Bayes. Importantly, these algorithms may be implemented in the factorization of very large matrices with missing entries.     

Contradictions and crises of neoliberal–imperial globalization and the political opportunity structures for the Global Justice Movements

The Global Justice Movements emerged in the context of the contradictions and crisis of neoliberal–imperial globalization and the critique of it. They therefore express and provide a basis for the politicization of the negative consequences of post-Fordism and its crisis. This article examines the structural changes of the last 30 years from a Gramscian perspective of neoliberal globalization as a “passive revolution” and as the deepening of a “imperial mode of living” at a global scale. It is argued that examining structural changes helps us to understand why protest and social movements re-emerged around the year 2000. The article discusses some central features of the Global Justice Movements by focusing on the international Attac movement and the recent Occupy movement.     

Bayesian adaptive dose‐escalation designs for simultaneously estimating the optimal and maximum safe dose based on safety and efficacy

The main purpose of dose‐escalation trials is to identify the dose(s) that is/are safe and efficacious for further investigations in later studies. In this paper, we introduce dose‐escalation designs that incorporate both the dose‐limiting events and dose‐limiting toxicities (DLTs) and indicative responses of efficacy into the procedure. A flexible nonparametric model is used for modelling the continuous efficacy responses while a logistic model is used for the binary DLTs. Escalation decisions are based on the combination of the probabilities of DLTs and expected efficacy through a gain function. On the basis of this setup, we then introduce 2 types of Bayesian adaptive dose‐escalation strategies. The first type of procedures, called “single objective,” aims to identify and recommend a single dose, either the maximum tolerated dose, the highest dose that is considered as safe, or the optimal dose, a safe dose that gives optimum benefit risk. The second type, called “dual objective,” aims to jointly estimate both the maximum tolerated dose and the optimal dose accurately. The recommended doses obtained under these dose‐escalation procedures provide information about the safety and efficacy profile of the novel drug to facilitate later studies. We evaluate different strategies via simulations based on an example constructed from a real trial on patients with type 2 diabetes, and the use of stopping rules is assessed. We find that the nonparametric model estimates the efficacy responses well for different underlying true shapes. The dual‐objective designs give better results in terms of identifying the 2 real target doses compared to the single‐objective designs.     

Potential for Flexibility in EC Countries

Abstract. There are two economic reasons for supporting the Internal Market Programme of the EC by social policies: the fust argument refers to welfare theory, the second to policies of distribution. First, it could be possible that an economic integration without social completion will lead to welfare losses. Therefore, it could be necessary to correct market forces or to support them respectively because, due to market imperfections, they do not provide the best possible use of productive facilities. Second, it cannot be excluded that level and structure of social provisions will not be accepted because of superior aspects of policies of distribution. Market results could miss the aim of adjusting life and working conditions within the EC and developing them further. These two arguments mentioned above should be followed up in the discussion of the pros and cons of a harmonization of social systems in the EC. For the purposes of this paper these. rather fundamental considerations are applied to the following concrete items: dismissal protection, non-standard forms of employment, and working hours. These regulations influence numerical flexibility of enterprises, i.e. the possibilities of quantitative adjustments in staff use. The steadily growing competition in Europe will also increase the importance of flexibility potentials of enterprises in the different countries as a relevant factor for enterprise location. Extensive flexibility restrictions could prove to be competitive disadvantage in view of countries with more possibilities of flexibilization.Therefore, after the comparison of flexibility potentials in the EC-countries the implications for European laws (key-word: Social Charter) are to be discussed.     

Risk attitudes and digit ratio (2D:4D): Evidence from prospect theory

Journal of Risk and Uncertainty - Prenatal androgens have organizational effects on brain and endocrine system development, which may have a partial impact on economic decisions. Numerous studies...     

Income inequality and risk taking: the impact of social comparison information

Theory and Decision - In contrast to the assumptions of standard economic theory, recent experimental evidence shows that the income of peers has a systematic impact on observed degrees of risk...