Scheduling Super Rugby

We develop scheduling models of Super Rugby, the existing Super 14 (2006–2010) and the proposed Super 15 (from 2011), and the revised national provincial ITM Cup competition (from 2011). Developing schedules for these competitions involves a large number of competition design decisions and scheduling compromises between team welfare, travel, television, and revenue management. We show that Super 15 addresses some of the complications that arose in scheduling Super 14. The 2011 ITM cup features a very tight scheduling window due to the Rugby World Cup, with 10 matches per team over a 7 week period. The schedules developed show that it is possible to accommodate most of the (assumed) preferences of teams and organisers

Governing Communities by Auction

Common interest communities have become the property form of choice for many Americans. As of 2010, sixty-two million Americans lived in common interest communities. Residents benefit from sharing the cost of common amenities – pools, lawns, gazebos – and from rules that ensure compliance with community expectations. But decisionmaking in common interest communities raises serious concerns about minority abuse and manipulation, a problem well known to all property law students. Decisions about which amenities will be provided and which rules will be enacted are typically made through some combination of delegation and voting. Delegates often act for their own benefit, and, for a variety of reasons, voting fails to capture the preferences of the community. This Article suggests a better way. Building upon the pioneering work of Vickrey, Clarke, and Groves, we propose a novel auction system that captures the intensity of resident preferences while preserving the honesty of declared preferences. The use of auction theory induces truthful revelation of preferences by participants and reflects the intensity of preference for any given policy outcome. As a result, our system allows communities to make better decisions and makes common interest communities more responsive to the needs of residents

Eliciting Risk Preferences: A Field Experiment on a Sample of French Farmers

We designed a field experiment involving real payments to elicit farmers’ risk preferences. Farmers are a very interesting sample to study since risk has always played an important role in agricultural producers’ decisions. Besides, European farmers may face more risky situations in the future. In this context, it is very important for any economic analysis focusing on agriculture to correctly assess farmers’ behaviour in the face of different sources of risk. We test for two descriptions of farmers’ behaviour: expected utility and cumulative prospect theory. We use two elicitation methods based on the procedures of Holt and Laury (2002) and Tanaka et al. (2010) on a sample of 30 French farmers. The experiment consists in asking subjects to make series of choices between two lotteries with varying probabilities and outcomes. We estimate parameters describing farmers’ risk preferences derived from structural models. We find farmers are slightly risk averse in the expected utility framework. In the cumulative prospect theory frame, we find farmers display either loss aversion or probability weighting, tending to overweight small probabilities and to underweight high probabilities. In our study, expected utility is not a good description of farmers’ behaviour towards risk.Risk Attitudes, Field Experiment, Farming, Risk and Uncertainty, C93, D81, Q10,

Time Preferences and Fertility: Evidence from Italy

none3noBackground: Fertility decisions, as all life actions, imply a balancing of anticipated costs and benefits whose expectations are formed under uncertainty. Fertility research has addressed the backward reasonings (e.g., socioeconomic, psychological, biological factors) influencing fertility decisions. Yet, the role of forward factors, such as the preference for immediate but lower benefits versus future but higher benefits, in influencing fertility decisions has been overlooked. Objective: Time preferences, also referred to as impatience, is a personal characteristic that has been found to influence different types of decisions, from financial investments to schooling decisions. The present study is the first that empirically explores whether this trait represents a determinant of human reproductive behaviors. Methods: Data are from the Survey on Household Income and Wealth carried out by the Bank of Italy every two years on a sample of about 8,000 households. In particular, we make use of a question included in the 2004, 2008, 2010, and 2012 waves to examine whether, controlling for backward factors, impatience affects parity progressions. Results: Results from logistic regression models indicate an inverse U-shaped association between impatience and the transition to the first and second child during the observation period, meaning that for very impatient and very patient individuals the probability of having a first and second child is lower than for individuals within intermediate levels of impatience. Conclusions: The empirical finding points to the importance of considering time discounting preferences (as well as other forward-looking factors) in fertility research to gain a more complete understanding of fertility behaviours. Contribution: The orientation toward the future plays an important role in predicting fertility behavior. TDP as a a basis for inter-temporal decision making represent a key factor to better understanding contemporary fertility decision-making processes.noneBellani, Daniela; Arpino, Bruno; Vignoli, DanieleBellani, Daniela; Arpino, Bruno; Vignoli, Daniel

Cautionary tales in the interpretation of clinical studies involving older persons

The care of patients 65 years or older presents a challenge for evidence-based medicine. Such patients are underrepresented in clinical trials, are more vulnerable to treatment-induced harm, and often are unable to fully participate in treatment decisions. We outline several cautionary themes in the interpretation of clinical studies of therapeutic interventions involving older persons as they apply to processes of everyday clinical decision making. In particular, we focus on issues of study design and quality of evidence, choice of outcome measures, missing outcome data, assessment of potential harm, quantifying treatment effects in individual patients (and adjusting these for effect modifiers and reduced life expectancy), eliciting patient values and preferences, prioritizing therapeutic goals and selection of treatments, and assisting patients in adhering to agreed therapeutic regimens. ©2010 American Medical Association. All rights reserved

Surrogate Decision-Making Standards for Guardians: Theory and Reality

This Article examines the theoretical and practical implications of the substituted judgment and best interest standards for decision making by guardians. After providing an overview of the current decision-making standards in guardianship statutes, the Article synthesizes theoretical debates about what these standards mean and whether they provide an effective paradigm for surrogate decision makers. The authors then use new survey data to offer conclusions about the degree to which the substituted judgment and best interest standards are understood and meaningfully applied by guardians

Dopamine and Risk Preferences in Different Domains

Individuals differ significantly in their willingness to take risks. Such differences may stem, at least in part, from individual biological (genetic) differences. We explore how risk-taking behavior correlates with different versions of the dopamine receptor D4 gene (DRD4), which has been implicated in previous studies of risk taking. We investigate risk taking in three contexts: economic risk taking as proxied by a financial gamble, self-reported general risk taking, and self-reported behavior in risk-related activities. Our participants are serious tournament bridge players with substantial experience in risk taking. Presumably, this sample is much less varied in its environment than a random sample of the population, making genetic based differences easier to detect. A prior study (Dreber et al. 2010) looked at risk taking by these individuals in their bridge decisions. Here we examine the riskiness of decisions they take in other contexts. We find evidence that individuals with a 7-repeat allele (7R+) of DRD4 take significantly more economic risk in an investment game than individuals without this allele (7R-). Interestingly, this positive relationship is driven by the men in our study, while the women show a negative but non-significant result. Even though the number of 7R+ women in our sample is low, our results may indicate a gender difference in how the 7R+ genotype affects behavior, a possibility that merits further study. Considering other risk measures, we find no difference between 7R+ and 7R- individuals in general risk taking or any of the risk-related activities. Overall, our results indicate that the dopamine system plays an important role in explaining individual differences in economic risk taking in men, but not necessarily in other activities involving risk.Risk preferences; Dopamine; Risk taking; Risk perception; DRD4

The UPC Substituted Judgment/Best Interest Standard for Guardian Decisions: A Proposal for Reform

The introduction in 1997 of substituted judgment as a guiding principle for guardian decisions was a key contribution of the UPC to guardianship reform. The current UPC section 5-314(a) instructs guardians to consider the expressed desires and personal values of the ward when making decisions and to at all times...act in the ward\u27s best interest. This dual mandate for guardian decisions was intended to promote the self-determination interests of incapacitated adults. This article argues that in practice the standard has failed to achieve this goal. It analyzes the shortcomings of UPC Section 5-314(a) and other statutory decision-making standards and offers an improved decision-making model. Frolik and Whitton propose reform of Section 5-314(a) to provide better guidance for guardians, and to harmonize the standard for guardian decisions with other surrogate decision-making standards within the UPC

The UPC Substituted Judgment/Best Interest Standard for Guardian Decisions: A Proposal for Reform

The introduction in 1997 of substituted judgment as a guiding principle for guardian decisions was a key contribution of the UPC to guardianship reform. The current UPC section 5-314(a) instructs guardians to consider the expressed desires and personal values of the ward when making decisions and to at all times...act in the ward\u27s best interest. This dual mandate for guardian decisions was intended to promote the self-determination interests of incapacitated adults. This article argues that in practice the standard has failed to achieve this goal. It analyzes the shortcomings of UPC Section 5-314(a) and other statutory decision-making standards and offers an improved decision-making model. Frolik and Whitton propose reform of Section 5-314(a) to provide better guidance for guardians, and to harmonize the standard for guardian decisions with other surrogate decision-making standards within the UPC

Innovation attributes and managers' decisions about the adoption of innovations in organizations: A meta-analytical review

The adop­tion of in­no­va­tions has emerged as a dom­i­nant re­search topic in the man­age­ment of in­no­va­tion in or­ga­ni­za­tions, al­though in­ves­ti­ga­tions of­ten yield mixed re­sults. To help man­agers and re­searchers im­prove their ef­fec­tive­ness, the au­thors em­ployed a meta-analy­sis in­te­grated with struc­tural equa­tion mod­el­ing to an­a­lyze the as­so­ci­a­tions be­tween the at­trib­utes of in­no­va­tions, man­agers' be­hav­ioral pref­er­ences, and or­ga­ni­za­tions' in­no­va­tion adop­tion de­ci­sions in a me­di­ated-mod­er­ated frame­work. Our find­ings of­fer ev­i­dence that at­trib­utes of in­no­va­tions in­flu­ence man­agers' be­hav­ioral pref­er­ences and, con­se­quently, adop­tion de­ci­sions in or­ga­ni­za­tions. We also ob­serve the sig­nif­i­cance of the con­text in which the adop­tion de­ci­sion oc­curs as well as the re­search set­tings em­ployed by schol­ars. Fi­nally, we dis­cuss the the­o­ret­i­cal con­tri­bu­tion and prac­ti­cal im­pli­ca­tions of our meta-an­a­lyt­i­cal re­sults