Agarwal, R, Bajada, C, Katic, M & Bhatia, MS 2021, 'Technological trends and future management practices in global value chains' in Agarwal, R, Bajada, C, Green, R & Skellern, K (eds), The Routledge Companion to Global Value Chains, Routledge, Singapore, pp. 123-136.
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Recent advancements in technology such as the internet of things, 3D printing and blockchain will undoubtedly have a disruptive impact on the business models of many organisations. By examining the megatrends in emerging technologies, this chapter will examine the implications these recent advancements in technologies may have on the management practices within organisations. More specifically, this chapter will consider how these changing management practices may affect the management of global value chains (GVCs). The implications for managers and organisations in developing capabilities to support these changing management practices is fundamentally important for competitively positioning the organisation and contributing effectively within GVCs, and so a discussion on the implication for managers and management practices ensues. The conclusions in this chapter suggest that megatrends in GVCs are critically dependent on emerging technologies, which in turn require appropriate capabilities within an organisation, reflected in the management practices of the firm.
Bliemel, M, Wixted, B & Roos, G 2021, 'Case study' in Agarwal, R, Bajada, C, Green, R & Skellern, K (eds), The Routledge Companion to Global Value Chains, Routledge, pp. 318-324.
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Despite the benefits of modularisation and highly interconnected global value chains (GVCs),recent natural disasters have provided evidence that global supply chains can be quite vulnerableto interruptions. Risks in supply chains leading to interruption are not limited to naturaldisasters and can include fires and financial ruin (see Natarajarathinam et al., 2009). Simchi-Leviet al. (2014) have recently suggested it is the low-end commodity producers that expose highervaluesystem integrators to the greatest risks. For example, the Thai floods in 2011 disruptedelectronics and auto supply chains across the globe – particularly affecting hard drive supplies(Tibken, 2011). Likewise, the Japanese earthquake in 2011 disrupted auto production from Japanto North America to Sweden (Glinton, 2011), as discussed in a National Public Radio interviewbetween Glinton (interviewer) and Handler (auto industry expert).
Bliemel, M, Wixted, B & Roos, G 2021, 'Linking the interconnectedness and innovativeness of global value chains' in Agarwal, R, Bajada, C, Green, R & Skellern, K (eds), The Routledge Companion to Global Value Chains, Routledge, pp. 182-202.
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There is a strong conceptual link between the structure of global value chains (GVCs) and innovativeness. However, evidence of the link has largely been limited to the study of GVCs in industries that are purported to be innovative, and the studies have largely been at the level of an individual firm or product. This sampling bias and level of analysis creates a lack of an objective measure of innovativeness, which would enable generalisation to other firms in a given industry and with which to perform inter-industry comparison. This chapter extends the typology of global value architectures (GVAs) by Wixted and Bliemel to use the same trade data to quantify the structures of 22 industry complexes via a measure of significant sourcing pathways per economy (SPE). The SPE results are used to rank the industries according to their level of interconnectedness and then reveal how this measure of trade complex structure correlates to well-established innovation measures based on R&D intensity, alliancing and modularity. These correlations suggest that measures of trade in GVCs are complementary to these innovativeness measures. The chapter propose that these innovativeness measures can be replaced by SPE measures, as they are more objective, replicable and thus reliable measures of innovativeness which also explicitly accounts for the dispersion of innovation across regions, thereby representing the aggregate structure of all GVCs of a given industry.
Krishnan, R, Phan, PY, Kaur, A & Paul, SK 2021, 'Blockchain and allied technologies for food supply chain risk mitigation in global value chains' in Agarwal, R, Bajada, C, Green, R & Skellern, K (eds), The Routledge Companion to Global Value Chains, Routledge, pp. 105-122.
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Padman, R, Krishnan, R & Agarwal, R 2021, 'Integration of ICT systems and processes' in Agarwal, R, Bajada, C, Green, R & Skellern, K (eds), The Routledge Companion to Global Value Chains, Routledge, Singapore, pp. 91-104.
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The emerging megatrends in healthcare and continuing digital transformation of the healthcare sector worldwide has opened up new opportunities to improve healthcare delivery as well as financial, organisational and health outcomes from many perspectives. In the context of global supply chains, the convergence of supply chain technologies, data analytics and availability of vast amounts of digital data from devices and software tools have made possible both the adaptation of people–process–technology strategies to new healthcare delivery requirements, but have also accelerated operational efficiencies in care delivery and improved access to quality healthcare and actionable data. Integrating and streamlining healthcare supply chains with internet of things (IoT) devices and sensors and leveraging the resulting data for advanced analytics at the point of decision making has the potential to provide healthcare professionals with actionable insights for planning and strategic decision-making, for both operational improvements and better care delivery. This chapter draws on an illustrative example from healthcare delivery to highlight some opportunities with analytics in patient safety initiatives and implications for healthcare supply chains.
Agarwal, R, Bajada, C, Brown, PJ & Green, R 2021, 'People Management Practices that Underpin Lean Management Outcomes', Global Journal of Flexible Systems Management, vol. 22, no. 2, pp. 75-94.
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Bajada, C, Singh, S, Jarvis, W & Trayler, R 2021, 'The use of threshold concepts to support student learning through assessment – a case for renewing public trust in business education and qualifications', Higher Education Research & Development, vol. 40, no. 4, pp. 676-691.
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Baker, E, Daniel, L, Beer, A, Bentley, R, Rowley, S, Baddeley, M, London, K, Stone, W, Nygaard, C, Hulse, K & Lockwood, A 2021, 'An Australian rental housing conditions research infrastructure', Scientific Data, vol. 9, no. 1, p. 33.
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AbstractEach year the proportion of Australians who rent their home increases and, for the first time in generations, there are now as many renters as outright homeowners. Researchers and policy makers, however, know very little about housing conditions within Australia’s rental housing sector due to a lack of systematic, reliable data. In 2020, a collaboration of Australian universities commissioned a survey of tenant households to build a data infrastructure on the household and demographic characteristics, housing quality and conditions in the Australian rental sector. This data infrastructure was designed to be national (representative across all Australian States and Territories), and balanced across key population characteristics. The resultant Australian Rental Housing Conditions Dataset (ARHCD) is a publicly available data infrastructure for researchers and policy makers, providing a basis for national and international research.
Balzer, B & Rosato, A 2021, 'Expectations-Based Loss Aversion in Auctions with Interdependent Values: Extensive vs. Intensive Risk', Management Science, vol. 67, no. 2, pp. 1056-1074.
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We analyze the bidding behavior of expectations-based loss-averse bidders in auctions with interdependent values. We emphasize the difference between the risk bidders face over whether they win the auction (extensive risk) and the risk they face over the value of the prize conditional on winning (intensive risk). The extensive risk creates an “attachment” effect, whereas the intensive risk operates via a “comparison” effect. How loss-averse bidders react to these different risks depends on whether they incorporate their bid into their reference point. Under “unacclimating personal equilibrium” (UPE), where bidders keep their expectations fixed when choosing their bids, both the extensive and intensive risks induce them to bid more aggressively. Moreover, bidders are exposed to the “winner’s curse” and a seller can attain higher revenue by hiding information in order to leverage the intensive risk. By contrast, under “choice-acclimating personal equilibrium” (CPE), where a bid determines both the reference lottery and the outcome lottery, the intensive risk creates a “precautionary bidding” effect that pushes bidders to behave less aggressively; whether this effect is reinforced or undermined by the extensive risk depends on a bidder’s likelihood of winning the auction. Furthermore, bidders are less aggressive than under UPE and can be subject to a “loser’s curse.” Yet, by committing to bidding less aggressively, such as by engaging in proxy bidding, loss-averse bidders are better off under CPE than UPE. This paper was accepted by Ilia Tsetlin, decision analysis.
Balzer, B & Schneider, J 2021, 'Managing a conflict: optimal alternative dispute resolution', The RAND Journal of Economics, vol. 52, no. 2, pp. 415-445.
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AbstractWe study optimal methods for Alternative Dispute Resolution (ADR), a technique to achieve settlement and avoid costly adversarial hearings. Participation is voluntary. Disputants are privately informed about their marginal cost of evidence provision. If ADR fails to engender settlement, the disputants can use the information obtained during ADR to determine what evidence to provide in an adversarial hearing. Optimal ADR induces an asymmetric information structure but makes the learning report‐independent. It is ex ante fair and decreases the disputants' expenditures, even if they fail to settle. We highlight the importance of real‐world mediation techniques, such as caucusing, for implementing optimal ADR.
Balzer, B & Schneider, J 2021, 'Persuading to participate: Coordination on a standard', International Journal of Industrial Organization, vol. 78, pp. 102764-102764.
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Briscese, G, Feltovich, N & Slonim, RL 2021, 'Who benefits from corporate social responsibility? Reciprocity in the presence of social incentives and self-selection', Games and Economic Behavior, vol. 126, pp. 288-304.
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Cobb-Clark, DA & Kettlewell, N 2021, 'Psychological, social and cognitive resources and the mental wellbeing of the poor', PLOS ONE, vol. 16, no. 10, pp. e0258417-e0258417.
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Our study takes advantage of unique data to quantify deficits in the psychosocial and cognitive resources of an extremely vulnerable subpopulation–those experiencing housing vulnerability–in an advanced, high-income country (Australia). Groups such as these are often impossible to study using nationally representative data sources because they make up a small share of the overall population. We show that those experiencing housing vulnerability sleep less well, have more limited cognitive functioning, and less social capital than do those in the general population. They are also less emotionally stable, less conscientious, more external, and more risk tolerant. Collectively, these deficits in psychosocial and cognitive resources account for between 24–42% of their reduced life satisfaction and their increased mental distress and loneliness. These traits also account for a large proportion of the gap in mental wellbeing across different levels of housing vulnerability.
Di Guilmi, C & Galanis, G 2021, 'Convergence and divergence in dynamic voting with inequality', Journal of Economic Behavior & Organization, vol. 187, pp. 137-158.
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Fiorini, M & Stevens, K 2021, 'Scrutinizing the Monotonicity Assumption in IV and fuzzy RD designs*', Oxford Bulletin of Economics and Statistics, vol. 83, no. 6, pp. 1475-1526.
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AbstractWhenever treatment effects are heterogeneous, and there is sorting into treatment based on the gain, monotonicity is a condition that both instrumental variable (IV) and fuzzy regression discontinuity (RD) designs must satisfy for their estimate to be interpretable as a local average treatment effect. However, applied economic work often omits a discussion of this important assumption. A possible explanation for this missing step is the lack of a clear framework to think about monotonicity in practice. In this paper, we use an extended Roy model to provide insights into the interpretation of IV and fuzzy RD estimates under various degrees of treatment effect heterogeneity, sorting on gain and violation of monotonicity. We then extend our analysis to two applied settings to illustrate how monotonicity can be investigated using a mix of economic insights, data patterns and formal tests. For both settings, we use a Roy model to interpret the estimate even in the absence of monotonicity. We conclude with a set of recommendations for the applied researcher.
Gadsden, T, Mabunda, S, Palagyi, A, Maharani, A, Sujarwoto, S, Baddeley, M & Jan, S 2021, 'Performance-based incentives and community health workers’ outputs, a systematic review', Bulletin of the World Health Organization, vol. 99, no. 11, pp. 805-818.
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Objective
To review the evidence on the impact on measurable outcomes of performance-based incentives for community health workers (CHWs) in low- and middle-income countries.
Methods
We conducted a systematic review of intervention studies published before November 2020 that evaluated the impact of financial and non-financial performance-based incentives for CHWs. Outcomes included patient health indicators; quality, utilization or delivery of health-care services; and CHW motivation or satisfaction. We assessed risk of bias for all included studies using the Cochrane tool. We based our narrative synthesis on a framework for measuring the performance of CHW programmes, comprising inputs, processes, performance outputs and health outcomes.
Findings
Two reviewers screened 2811 records; we included 12 studies, 11 of which were randomized controlled trials and one a non-randomized trial. We found that non-financial, publicly displayed recognition of CHWs' efforts was effective in improved service delivery outcomes. While large financial incentives were more effective than small ones in bringing about improved performance, they often resulted in the reallocation of effort away from other, non-incentivized tasks. We found no studies that tested a combined package of financial and non-financial incentives. The rationale for the design of performance-based incentives or explanation of how incentives interacted with contextual factors were rarely reported.
Conclusion
Financial performance-based incentives alone can improve CHW service delivery outcomes, but at the risk of unincentivized tasks being neglected. As calls to professionalize CHW programmes gain momentum, research that explores the interactions among different forms of incentives, context and sustainability is needed.
Goldbaum, D 2021, 'The origins of influence', Economic Modelling, vol. 97, pp. 380-396.
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© 2020 Elsevier B.V. Influencers can broadly affect behavior. The developed model identifies a desire to conform as supporting a hierarchical social structure of influencers and followers. I introduce a dynamic model in which choices made are valued based on their popularity. Individuals are modeled as pursuing private interests with only limited information gathered from personal experiences. The analysis reveals that the population develops a network of stable personal relationships relied upon to identify the popular choice. Without explicitly modeling a role for leaders, a leader and followers emerge as ex post behavior types. Environment, behavior, and individuality shape network formation and outcomes. The theoretical equilibrium is not the only stable outcome. Coordination is achieved when adaptive behavior transforms an otherwise transitory local success into a permanent social structure for disseminating information. Despite backward-looking reliance to inform the current decisions, individuals can favorably shape outcomes with forward-looking strategic handling of information.
Heger, SA, Slonim, R, Tausch, F & Tymula, A 2021, 'Altruism among consumers as donors', Journal of Economic Behavior & Organization, vol. 189, pp. 611-622.
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Hendy, P, Slonim, R & Atalay, K 2021, 'Unsticking credit card repayments from the minimum: Advice, anchors and financial incentives', Journal of Behavioral and Experimental Finance, vol. 30, pp. 100505-100505.
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Hirata, D, Kasuya, Y & Tomoeda, K 2021, 'Stability against robust deviations in the roommate problem', Games and Economic Behavior, vol. 130, pp. 474-498.
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We propose a new solution concept in the roommate problem, based on the “robustness” of deviations (i.e., blocking coalitions). We call a deviation from a matching robust up to depth k, if none of the deviators gets worse off than at the original matching after any sequence of at most k subsequent deviations. We say that a matching is stable against robust deviations (for short, SaRD) up to depth k, if no deviation from it is robust up to depth k. As a smaller k imposes a stronger requirement for a matching to be SaRD, we investigate the existence of a matching that is SaRD with a minimal depth k. We constructively demonstrate that a SaRD matching always exists for k=3 and establish sufficient conditions for k=1 and 2.
Johnston, DW & Stavrunova, O 2021, 'Subjective Wellbeing Dynamics', Australian Economic Review, vol. 54, no. 4, pp. 518-529.
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AbstractA large multidisciplinary literature has sought to explain how a person's wellbeing changes over time in response to individual life events (for example, unemployment), and to larger scale interventions and events (for example, natural disasters). The Household, Income and Labour Dynamics in Australia (HILDA) Survey has been a key data source for such explorations because of its consistency, longevity and breadth of information. Through a review of past studies, we highlight some important features in the dynamics of subjective wellbeing; particularly focusing on the speed of adaptation to wellbeing shocks, and the presence of heterogeneity in adaptation profiles.
Johnston, DW, Knott, R, Mendolia, S & Siminski, P 2021, 'Upside-Down Down-Under: Cold Temperatures Reduce Learning in Australia', Economics of Education Review, vol. 85, pp. 102172-102172.
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Understanding how variation in weather and climate conditions impact productivity, performance and learning is of crucial economic importance. Recently, studies have established that high temperatures negatively impact cognition and educational outcomes in several countries around the world. We add to this literature by analysing test scores from a national assessment of Australian children aged between 8 and 15 years. Using comparable methods to previous studies, we find that high temperatures in the year prior to the test do not worsen performance. In fact, we find the opposite: additional cold days significantly reduce test scores. Moreover, the effect appears cumulative, with cold school days 1–2 years prior also having a negative effect. This seemingly contradictory finding is consistent with a literature which finds that people living in warm regions tend to inadequately protect themselves from cold temperatures, meaning they are susceptible to cold weather shocks. These results are also consistent with concerns about potentially harmful effects of unflued gas heaters in schools. More generally, we demonstrate that effects of weather conditions are context specific.
Kettlewell, N 2021, 'The informational content of subjective expectations for health service use', BMC Health Services Research, vol. 21, no. 1, p. 464.
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Abstract Background This study aims to evaluate the informational content of people’s subjective probability expectations for using various health services. Methods Using a sample of 1,528 Australian adults (25-64 years), I compared stated probabilities of visiting various health service providers (hospitals, dentists, optometrists, physiotherapists and related care providers, naturopaths and massage therapists) with past utilization and with predicted utilization estimated out-of-sample. I also estimated whether past utilization and subjective expectations were predicted by the same covariates. Finally, I estimated whether subjective expectations had predictive power for the choice to purchase private health insurance conditional on past utilization and other controls. Results Subjective expectations closely reflect patterns of observed utilization, are predicted by the same covariates as observed utilization, and correlate with objective measures of risk. Subjective expectations also add predictive power to models estimating insurance take-up, even after conditioning on prior health care use and other risk factors. Conclusion The findings are indicative that on average people form quite accurate expectations, and support collecting subjective expectations about health services in household surveys for use in applied research.
Kettlewell, N & Tymula, A 2021, 'The Australian Twins Economic Preferences Survey', Twin Research and Human Genetics, vol. 24, no. 6, pp. 365-370.
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AbstractThis article describes the Australian Twins Economic Preferences Survey (ATEPS). The data set comprises a wide variety of preference and behavioral measures (risk aversion, impatience, ambiguity aversion, trust, confidence) elicited using incentivized decision tasks. One-thousand one-hundred twenty Australian adult twins (560 pairs) completed the survey, making it one of the largest data sets containing incentivized preference measures of twins. As the survey was conducted during the COVID-19 pandemic, we also collected information on experiences related to the pandemic, along with a variety of questions on political attitudes and mental wellbeing. We hope that ATEPS can make a valuable contribution to social science and genetics research.
Kim, M-T & Slonim, R 2021, 'The multi-dimensional effects of reciprocity on worker effort: evidence from a hybrid field-laboratory labour market experiment', Economic and Political Studies, vol. 9, no. 1, pp. 37-67.
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Krishnan, R, Yen, P, Agarwal, R, Arshinder, K & Bajada, C 2021, 'Collaborative innovation and sustainability in the food supply chain- evidence from farmer producer organisations', Resources, Conservation and Recycling, vol. 168, no. 1, pp. 105253-105253.
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© 2020 Firms today are striving to adopt innovations to ensure their survival, value creation and success. Innovation is increasingly seen as an outcome of a collaborative process, involving various stakeholders both within and outside the firms, in supply chain relationships. Collaborative arrangements are gaining traction and the focus of innovation is shifting from firms to their supply chain networks. This leads to the notion of supply chain innovation, which has been widely accepted as an important ingredient for improving the organisational and supply chain performance of firms. Inefficient practices such as improper crop selection, involvement of too many intermediaries, flood irrigation, over-fertilization and food waste necessitate innovative practices that will improve the sustainability of the food supply chain. In this regard, there is a need to investigate how collaboration among food supply chain entities leads to innovative practices and how these innovative practices in turn improve the sustainability of the food supply chain. This study aims to address this gap using the case of the Indian Farmer Producer Organisations (FPOs). Further, using the Supply Chain Operations Reference (SCOR) model, the supply chain of FPO is divided into five levels - plan, source, make, deliver and return and the case is analysed across these levels. The findings show that the formation of FPO through collaboration facilitates many innovative practices that result in several economic, environmental and social benefits to the FPO.
Lemus, J, Temnyalov, E & Turner, JL 2021, 'Liability Insurance: Equilibrium Contracts under Monopoly and Competition', SSRN Electronic Journal, vol. 13, no. 1, pp. 83-115.
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In liability lawsuits (e.g., patent infringement), a plaintiff demands compensation from a defendant, and the parties often negotiate a settlement to avoid a costly trial. Liability insurance creates bargaining leverage for the defendant in this settlement negotiation. We study the characteristics of monopoly and equilibrium contracts in settings where this leverage effect is a substantial source of value for insurance. Our results show that under adverse selection, a monopolist offers at most two contracts, which underinsure low-risk types and may inefficiently induce high-risk types to litigate. In a competitive market, only a pooling equilibrium with underinsurance may exist. (JEL D41, D42, D82, D86, G22, K13, K41)
Li, J, Mukherjee, A & Vasconcelos, L 2021, 'Learning to game the system', The Review of Economic Studies, vol. 88, no. 4, pp. 2014-2041.
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Abstract An agent may privately learn which aspects of his job are more important by shirking on some of them, and use that information to shirk more effectively in the future. In a model of long-term employment relationship, we characterize the optimal relational contract in the presence of such learning-by-shirking and highlight how the performance measurement system can be managed to sharpen incentives. Two related policies are studied: intermittent replacement of existing measures, and adoption of new ones. In spite of the learning-by-shirking effect, the optimal contract is stationary, and may involve stochastic replacement/adoption policies that dilute the agent’s information rents from learning how to game the system.
Li, M & Koopman, SJ 2021, 'Unobserved components with stochastic volatility: Simulation‐based estimation and signal extraction', Journal of Applied Econometrics, vol. 36, no. 5, pp. 614-627.
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SummaryThe unobserved components time series model with stochastic volatility has gained much interest in econometrics, especially for the purpose of modelling and forecasting inflation. We present a feasible simulated maximum likelihood method for parameter estimation from a classical perspective. The method can also be used for evaluating the marginal likelihood function in a Bayesian analysis. We show that our simulation‐based method is computationally feasible, for both univariate and multivariate models. We assess the performance of the method in a Monte Carlo study. In an empirical study, we analyse U.S. headline inflation using different univariate and multivariate model specifications.
Martin, JH, Baddeley, M & Head, R 2021, 'Did our pharmacological strategy for COVID‐19 fail?', Pharmacology Research & Perspectives, vol. 9, no. 6.
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Mendolia, S, Stavrunova, O & Yerokhin, O 2021, 'Determinants of the community mobility during the COVID-19 epidemic: The role of government regulations and information', Journal of Economic Behavior & Organization, vol. 184, pp. 199-231.
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This paper studies the dynamics of human mobility during the initial stage of the COVID-19 pandemic in countries around the world. The main goal of the analysis is to empirically separate voluntary reductions in mobility driven by the information about the location-specific pandemic trends from the effects of the government-imposed social distancing mandates. Google human mobility dataset is used to track the dynamics of mobility across a wide range of categories (e.g., workplace, retail and recreational activities, etc.), while information on country-specific counts of COVID-19 cases and deaths is used as a proxy for the information about the spread of the pandemic available to the population. A detailed index of stringency of the government-imposed social distancing policies in around 100 countries is used as a measure of government response. We find that human mobility does respond in a significant way to the information about the spread of the pandemic. This channel can explain about 15 percentage points of the overall reduction in mobility across the affected countries. At the same time, our results imply that government-imposed policies account for the majority of the reduction in the mobility observed during this period.
Morris, RW, Kettlewell, N & Glozier, N 2021, 'The increasing cost of happiness', SSM - Population Health, vol. 16, pp. 100949-100949.
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A fundamental question for society is how much happiness does a dollar buy? The accepted view among economists and psychologists is that income has diminishing marginal returns on happiness: money and happiness increase together up to a point after which there is relatively little further gain. In this paper we estimate the relationship between income and subjective wellbeing over a 19-year period focusing on where the greatest change in the marginal return on income occurs and whether this change point has shifted over time. We formally test for the presence of a change point as well as temporal changes in the relationship between income and affective wellbeing (happiness), and income and cognitive wellbeing (life satisfaction), using household economic data from Australia between 2001 and 2019. The results indicate that the change point between affective wellbeing and income has increased over those 19 years faster than inflation (i.e., cost of living). This suggests that inequalities in income may be driving increasing inequities in happiness between the rich and the poor, with implications for health and recent government policy-goals to monitor and improve wellbeing.
Ortmann, A, Ryvkin, D, Wilkening, T & Zhang, J 2021, 'Defaults and Cognitive Effort', Journal of Economic Behavior & Organization, vol. 212, pp. 1-19.
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Page, L, Noussair, CN & Slonim, R 2021, 'The replication crisis, the rise of new research practices and what it means for experimental economics', Journal of the Economic Science Association, vol. 7, no. 2, pp. 210-225.
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Shen, C, Wang, Y, Xiao, J & Zhou, X 2021, 'Comparison Between Uniform Tariff and Progressive Consumption Tax in the Chinese Automobile Industry*', The Journal of Industrial Economics, vol. 69, no. 1, pp. 169-213.
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This paper studies the protectionist effect of a non‐trade policy — a consumption tax — compared to that of a tariff on the Chinese automobile market. Our empirical findings suggest that both the consumption tax and the tariff can protect domestic automakers’ market shares, but they can only shift a small portion of demand from imported cars to domestic cars. This demand exclusion is caused by the weak substitution between imported cars and domestic cars, and it is the underlying reason for the welfare loss caused by both the tariff and the consumption tax. A change in the consumption tax favorable to domestic manufacturers is equivalent to an additional 28% tariff, beyond the explicit 25% tariff, in terms of its protective effect on domestic manufacturers’ market shares.
Siminski, P & Evans, S 2021, 'The Effect of Outside Temperatures on Criminal Court Sentencing Decisions', SURE Journal, vol. 21/01, no. 2021 - 1, pp. 1-23.
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Climate change has stimulated growing interest in the influence of temperature oncognition, mood and decision making. This paper is the first investigation of theimpact of temperature on the outcomes of criminal court cases. It is motivated byHeyes and Saberian (2019, AEJ: Applied Economics), who found strong effects oftemperature on judges’ decisions in immigration cases, drawing on 207,000 cases.We apply similar models to analyse 2.8 million criminal court cases in theAustralian state of New South Wales from 1994 to 2019. Most of the estimates areprecise zeros. We conclude that outcomes of criminal court cases (which are farmore prevalent globally than immigration cases) are not influenced by fluctuationsin temperature, an unsurprising but reassuring result.
Van Essen, M & Wooders, J 2021, 'Allocating positions fairly: Auctions and Shapley value', Journal of Economic Theory, vol. 196, pp. 105315-105315.
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We study the problem of fairly allocating heterogenous items, priorities, positions, or property rights to participants with equal claims from three perspectives: cooperative, decision theoretic, and non-cooperative. We characterize the Shapley value of the cooperative game and then introduce a class of auctions for non-cooperatively allocating positions. We show that for any auction in this class, each bidder obtains his Shapley value when every bidder follows the auction's unique maxmin perfect bidding strategy. When information is incomplete we characterize the Bayesian equilibrium of these auctions, and show that equilibrium play converges to maxmin perfect play as bidders become infinitely risk averse. The equilibrium allocations thus converges to the Shapley value allocation as bidders become risk averse. Together these results provide both decision theoretic and non-cooperative equilibrium foundations for the Shapley value in the position allocation problem.
Agarwal, R, Bajada, C, Green, R & Skellern, K 2021, 'The Routledge Companion to Global Value Chains Reinterpreting and Reimagining Megatrends in the World Economy', Routledge, Informs UK.
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This comprehensive handbook provides a timely analysis of leading-edge global megatrends and practices in one volume.
Baddeley, M 2021, 'A Community of Advantage: A Behavioural Economist’s Defence of the Market, by RobertSugden (Oxford University Press, 2018).', Wiley, pp. 123-125.
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Bedard, NC, Goeree, JK, Louis, P & Zhang, J 2021, 'Price Discovery and Efficiency in Sealed-Bid and Ascending Combinatorial Auctions'.
Di Guilmi, C, Castle, C & Stavrunova, O 2021, 'Individualism and Collectivism as predictors of compliance with COVID-19 public health safety expectations'.
Docherty, P 2021, 'Preparation Workshop for Economics Group Representative to participate in 2SER Program Think: Business Futures, Panel Discussion on COVID-19 Stimulus Packages', 2ser radio.
Girsberger, EM, Hassani-Nezhad, L, Karunanethy, K & Lalive, R 2021, 'Mothers at Work: How Mandating Paid Maternity Leave Affects Employment, Earnings and Fertility', IZA Discussion Paper No. 14605 (July 2021).
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In July 2005, Switzerland introduced the first federal paid maternity leave mandate, offering 14 weeks of leave with 80% of pre-birth earnings. We study the mandate’s impact on women’s employment and earnings around the birth of their first child, as well as on their subsequent fertility by exploiting unique, rich administrative data in a differencein- differences set-up. Women covered by the mandate worked and earned more during pregnancy, and also had temporarily increased job continuity with their pre-birth employer after birth. Estimated effects on other labor market outcomes are small or absent, and all dissipate by five years after birth. The mandate instead persistently increased subsequent fertility: affected women were three percentage points more likely to have a second child in the next nine years. Women living in regions that had greater early child care availability experienced a larger increase in subsequent fertility following the mandate, suggesting that child care complements paid maternity leave in helping women balance work and family.
Lemus, J, Temnyalov, E & Turner, JL 2021, 'Liability Insurance: Equilibrium Contracts under Monopoly and Competition', American Economic Association, pp. 83-115.
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In liability lawsuits (e.g., patent infringement), a plaintiff demands compensation from a defendant, and the parties often negotiate a settlement to avoid a costly trial. Liability insurance creates bargaining leverage for the defendant in this settlement negotiation. We study the characteristics of monopoly and equilibrium contracts in settings where this leverage effect is a substantial source of value for insurance. Our results show that under adverse selection, a monopolist offers at most two contracts, which underinsure low-risk types and may inefficiently induce high-risk types to litigate. In a competitive market, only a pooling equilibrium with underinsurance may exist. (JEL D41, D42, D82, D86, G22, K13, K41)
Ortmann, A, Ryvkin, D, Wilkening, T & Zhang, J 2021, 'Defaults with Misaligned Incentives: The Role of Cognitive Effort', SSRN.
Waller, D, Cotton, D & Bajada, C 2021, 'Belonging at UTS: supporting Indigenous students in Business', UTS LX / Futures Blog.
