Welfare Effects of Pharmaceutical Informative Advertising

Pharmaceutical markets are characterized by a high degree of innovation, complexity and uncertainty, especially markets of idiosyncratic symptomatolgy and response to treatment such as the antidepressant market. It may, therefore, be unreasonable to assume that consumers are aware of all antidepressants for sale at the time of purchase, as is the case in traditional models of consumer choice. Such an assumption will bias demand curves towards being more elastic and the evaluation of consumer welfare downwards. This paper, therefore, aims at analyzing and evaluating the effects of promotions by pharmaceutical firms on patient welfare taking into account the interaction of multiple agents (patients, physicians, insurance companies and pharmaceutical companies) in the decision process. I present an empirical discrete-choice model of limited information, where advertising influences the set of drugs from which a purchase choice is made. The estimation technique incorporates both macro- and micro-level data. Estimation results indicate that pharmaceutical firms use advertising media to target high-income households and households with more comprehensive prescription drug insurance schemes through their physicians or directly. Model comparison shows that limited information leads to less elastic demand curves and larger estimates of patient welfare due to pharmaceutical innovation that exacerbate the moral hazard issue that coexists with insurance coverage.Advertising, Health, Information, Moral Hazard, Pharmaceuticals, Welfare

The use of the balanced scorecard in small companies

The Balanced Scorecard (BSC) is a performance measurement and strategic management system which appears suitable for use by all types and sizes of business. The BSC’s greatest strength for most businesses comes from its innate ability to integrate financial and non-financial measures together by measuring both strategic and business performance across four interrelated perspectives. Many studies have shown that the BSC can be successfully implemented within large-scale companies and organizations. However, there is limited empirical evidence regarding the use of the BSC within small companies. This study adds to the existing literature by reporting the results of a comparative investigation of BSC awareness and use within small companies located in the UK and Cyprus. In addition, the study examines the reasons for non-adoption by small companies and whether these companies use performances measures that are similar to those typically contained within the BSC model. The research data was collected from self-completed questionnaires that were distributed to 500 companies in the UK and Cyprus. The findings of the survey suggest that the majority of small companies, especially in the UK, are unaware of the BSC, and consequently levels of BSC usage are extremely low. Certain respondents believed that BSC is an unsuitable tool for small companies and that its implementation is beyond the resources available to such entities. However, the findings also suggest that even though very few small companies actually use the BSC, many such companies appear to use performances measures and indicators similar to those typically included within a BSC model

Reality Check. Multidisciplinary ways of conditioning space

The aim of the paper is to illustrate a series of pedagogical strategies utilized concerning the integration of other disciplines in the design process towards redefining ways of conditioning space. Via the agenda of a specific design studio laboratory the quest for integration is tested and the boundaries of architecture and other disciplines are being challenged. The thematic of the studio poses “technology” as a lens to inspect the future of architecture, therefore it provides a fertile ground for reciprocally investigating the future of other disciplines. A series of specific methodologies and processes are explored in order to encourage a multidisciplinary approach. These processes spread throughout the year as a continuous crossover of themes, exercises, workshops, references, case studies and discussions. The Reality check exercise aims at redefining ways of innovatively conditioning space by integrating personalised insights from the disciplines of mechanical, environmental and structural engineering, construction and building services

Multivariate isotropic random fields on spheres: Nonparametric Bayesian modeling and Lp fast approximations

We study multivariate Gaussian random fields defined over d-dimensional spheres. First, we provide a nonparametric Bayesian framework for modeling and inference on matrix-valued covariance functions. We determine the support (under the topology of uniform convergence) of the proposed random matrices, which cover the whole class of matrix-valued geodesically isotropic covariance functions on spheres. We provide a thorough inspection of the properties of the proposed model in terms of (a) first moments, (b) posterior distributions, and (c) Lipschitz continuities. We then provide an approximation method for multivariate fields on the sphere for which measures of L^p accuracy are established. Our findings are supported through simulation studies that show the rate of convergence when truncating a spectral expansion of a multivariate random field at a finite order. To illustrate the modeling framework developed in this paper, we consider a bivariate spatial data set of two 2019 NCEP/NCAR FluxReanalyses

Are dietary inequalities among Australian adults changing? a nationally representative analysis of dietary change according to socioeconomic position between 1995 and 2011-13

Abstract Background Increasing inequalities in rates of obesity and chronic disease may be partly fuelled by increasing dietary inequalities, however very few nationally representative analyses of socioeconomic trends in dietary inequalities exist. The release of the 2011–13 Australian National Nutrition and Physical Activity Survey data allows investigation of change in dietary intake according to socioeconomic position (SEP) in Australia using a large, nationally representative sample, compared to the previous national survey in 1995. This study examined change in dietary intakes of energy, macronutrients, fiber, fruits and vegetables among Australian adults between 1995 and 2011–13, according to SEP. Methods Cross-sectional data were obtained from the 1995 National Nutrition Survey, and the 2011–13 National Nutrition and Physical Activity Survey. Dietary intake data were collected via a 24-h dietary recall (n = 17,484 adults) and a dietary questionnaire (n = 15,287 adults). SEP was assessed according to educational level, equivalized household income, and area-level disadvantage. Survey-weighted linear and logistic regression models, adjusted for age, sex/gender and smoking status, examined change in dietary intakes over time. Results Dietary intakes remained poor across the SEP spectrum in both surveys, as evidenced by high consumption of saturated fat and total sugars, and low fiber, fruit and vegetable intakes. There was consistent evidence (i.e. according to ≥2 SEP measures) of more favorable changes in dietary intakes of carbohydrate, polyunsaturated and monounsaturated fat in higher, relative to lower SEP groups, particularly in women. Intakes of energy, total fat, saturated fat and fruit differed over time according to a single SEP measure (i.e. educational level, household income, or area-level disadvantage). There were no changes in intake of total sugars, protein, fiber or vegetables according to any SEP measures. Conclusions There were few changes in dietary intakes of energy, most macronutrients, fiber, fruits and vegetables in Australian adults between 1995 and 2011–13 according to SEP. For carbohydrate, polyunsaturated and monounsaturated fat, more favorable changes in intakes occurred in higher SEP groups. Despite the persistence of suboptimal dietary intakes, limited evidence of widening dietary inequalities is positive from a public health perspective. Trial registration Clinical trials registration: ACTRN12617001045303