Endogenous Market Institutions: Experimental Evidence

A wide variety of market institutions exist in the field and on the Internet. Examples are English auctions and two-sided marketplaces like the double auction where both buyers and sellers initiate prices. This paper investigates how the emergence of (different) market institutions is shaped by buyers’ and sellers’ institutional preferences. The experimental evidence reveals that both buyers and sellers in the main prefer market institutions that restrict the ability to make price offers to their side of the market. However, when buyers and sellers are allowed to express both first and second choices, the double auction emerges as the most viable market institution.Market institutions, institutional preferences, voting rules, experimental economics

Voter Turnout in Direct Democracy: Theory and Evidence

We analyse voter turnout as a function of referendum types. An advisory referendum produces advice that a legislature may or may not take into account when choosing between two alternatives, whereas a binding referendum generates a decisive decision. In theory, voter turnout should be higher under binding than advisory referendums, higher in small than large electorates and higher in close than less close referendums. These predictions are corroborated by evidence from 230 local referendums in Norway. For example, a shift from an advisory to a semi-binding referendum leads to an average increase in voter turnout by 11.5 percentage points.Voting Behaviour; Referendum Types; Rational Choice

At hylde arkitekturen. Bygningspræmiering som kritisk praksis

Architectural critique is often considered to be in a long-term crisis. Suggested causes are theoretical changes to the role of the critic, as well as reviews being expelled from a changing media landscape. However, critique acts to separate architecture from mere building. The critical assessment is an instrument for qualitative valuation of the built, and through the critiques an architectural canon is established within architectural discourse. The question then is: What instruments take over this role of critique? In recent years, the attention towards awards within architecture has been extensive in social media. Public institutions and foundations institute awards to promote specific aspects of the built, while manufacturers and interest groups establish awards with the aim of propagating specific building materials or products. But what are the conditions surrounding these ovations and what authority should they be ascribed? This article addresses these questions by comparing three types of critical practice surrounding the Mærsk Tower, a major research and teaching facility in Copenhagen completed in 2017. The building has received a significant number of awards and has been the subject of traditional reviews and a competition process. By comparing these three types of critical practice and discussing them in relation to theoretical notions on the role and potential of critique, we point to potentials and weaknesses in the award system. We conclude that awards do possess critical potentials, but that the award-granting processes need development in order to significantly contribute to a landscape of critical discursive practices

Nedtrykt af negative nyheder: Effekten af positive og negative tv-nyheder på seernes humør, hukommelse og lyst til at se nyheder

I adskillige år er det blevet debatteret, hvorvidt nyhedernes negative fokus har konsekvenser for borgerne, og om det i sidste ende får flere til at vende ryggen til nyhederne. Vores viden om effekterne af positive og negative nyheder er dog begrænset, og derfor undersøges det i denne artikel, hvordan henholdsvis positive og negative tv-nyheder påvirker seernes humør, hukommelse af information fra indslaget og lyst til at se yderligere tv-nyheder. Det gør vi i et survey-eksperiment (N=204), hvor tre grupper så enten et originalt indslag eller det samme indslag klippet med henholdsvis et positivt eller et negativt fokus, mens en fjerde gruppe ikke så noget indslag og fungerede som kontrolgruppe. Eksperimentet viser, at folk, der så et indslag med negativt fokus, kom i signifikant dårligere humør end dem, der så et positivt indslag, eller dem, der ikke så noget indslag. Undersøgelsen viser ingen effekter af et positivt kontra et negativt fokus, når det kommer til at huske information fra indslaget eller lyst til at se yderligere tv-nyheder

Factors associated with discharge destination from acute care after moderate-to-severe traumatic injuries in Norway: a prospective population-based study

Background - Previous studies have demonstrated that the trauma population has needs for rehabilitation services that are best provided in a continuous and coordinated way. The discharge destination after acute care is the second step to ensuring quality of care. There is a lack of knowledge regarding the factors associated with the discharge destination for the overall trauma population. This paper aims to identify sociodemographic, geographical, and injury-related factors associated with discharge destination following acute care at trauma centers for patients with moderate-to-severe traumatic injuries. Methods - A multicenter, population-based, prospective study was conducted with patients of all ages with traumatic injury [New Injury Severity Score (NISS) > 9] admitted within 72 h after the injury to regional trauma centers in southeastern and northern Norway over a 1-year period (2020). Results - In total, 601 patients were included; a majority (76%) sustained severe injuries, and 22% were discharged directly to specialized rehabilitation. Children were primarily discharged home, and most of the patients ≥ 65 years to their local hospital. Depending on the centrality of their residence [Norwegian Centrality Index (NCI) 1–6, where 1 is most central], we found that patients residing in NCI 3–4 and 5–6 areas sustained more severe injuries than patients residing in NCI 1–2 areas. An increase in the NISS, number of injuries, or a spinal injury with an Abbreviated Injury Scale (AIS) ≥ 3 was associated with discharge to local hospitals and specialized rehabilitation than to home. Patients with an AIS ≥ 3 head injury (RRR 6.1, 95% Confidence interval 2.80–13.38) were significantly more likely to be discharged to specialized rehabilitation than patients with a less severe head injury. Age  Conclusions - Two-thirds of the patients sustained severe traumatic injury, and 22% were discharged directly to specialized rehabilitation. Age, centrality of the residence, preinjury comorbidity, injury severity, length of hospital stay, and the number and specific types of injuries were factors that had the greatest influence on discharge destination

Functional Outcomes at 6 and 12 Months Post-Injury in a Trauma Centre Population with Moderate-to-Severe Traumatic Injuries

This study aims to evaluate the global functional outcomes after moderate-to-severe traumatic injury at 6 and 12 months and to examine the sociodemographic and injury-related factors that predict these outcomes. A prospective cohort study was conducted in which trauma patients of all ages with a New Injury Severity Score > 9 who were discharged alive from two regional trauma centres in Norway over a one-year period (2020) were included. The Glasgow Outcome Scale Extended (GOSE) score was used to analyse the functional outcomes. Regression analyses were performed to investigate the predictors of the GOSE score. Follow-up assessments were obtained from approximately 85% of the 601 included patients at both time points. The mean (SD) GOSE score was 6.1 (1.6) at 6 months and 6.4 (1.6) at 12 months, which corresponds to an upper-moderate disability. One-half of the patients had a persistent disability at 12 months post-injury. The statistically significant predictors of a low GOSE score at both time points were more pre-injury comorbidity, a higher number of injuries, and higher estimated rehabilitation needs, whereas a thorax injury with an Abbreviated Injury Scale ≥ 3 predicted higher GOSE scores. A high Glasgow Coma Scale score at admission predicted a higher GOSE score at 6 months. This study strengthens the evidence base for the functional outcomes and predictors in this population

A laboratory stress-test of bid, double and offer auctions

This paper reports on the empirical properties of the bid auction (buyers propose prices), offer auction (sellers suggest prices) and double auction (both buyers and seller initiate price quotes). These trading institutions are stress-tested using a nonstationary monopolistic market environment in which the buyers' demand schedule and the single seller's supply curve shift unpredictably between trading periods. The principal result is threefold. First, double auction prices tend to be greater than offer auction prices which again tend to be greater than bid auction prices. Second, the listed ranking reflects tendencies only. The laboratory data do not support statistically significant behavioral differences between the three auctions. Third, trading is highly efficient regardless of auction type

Uncertainty and international negotiations on tradable quota treaties

Negotiating an international tradable quota treaty between industrialised and developing countries is complicated by uncertain marginal abatement costs and non-uniform quota prices. An initial quota allocation that implies zero expected net cost to developing countries will typically be insufficient to attract their participation in the treaty. Two options to compensate for uncertainty are discussed here, extra emissions quotas and financial transfers. The latter is found to be more effective in facilitating treaty-making, but the scope of co-operation is restricted by the developing countries’ risk-aversion

Imperfect competition, sequential auctions, and emissions trading: An experimental evaluation

This paper reports an experiment that studies the behavior of a monopolist on sequential auction markets for tradable permits. Using six sessions in a triple ABA crossover design, we investigate the cost-effectiveness of permit allocations and the division of trade gains on sequential bid, offer, and double auction markets. The main result is that cost-effectiveness and supra-competitive profits accrued by the monopolist are observed on all the three auction markets

Uncertainty and international negotiations on tradable quota treaties

Negotiating an international tradable quota treaty between industrialised and developing countries is complicated by uncertain marginal abatement costs and non-uniform quota prices. An initial quota allocation that implies zero expected net cost to developing countries will typically be insufficient to attract their participation in the treaty. Two options to compensate for uncertainty are discussed here, extra emissions quotas and financial transfers. The latter is found to be more effective in facilitating treaty-making, but the scope of co-operation is restricted by the developing countries’ risk-aversion