Pricing Behaviour and Menu Costs in Multi-product Firms

This paper investigates the micro-foundations of pricing behaviour using monthly producer prices for Norwegian multi-product firms. We find both infrequent and many small price changes together with a high degree of within-firm synchronization. This points at fixed menu costs featuring scope economies, at additional linear and convex price adjustment costs, and at the presence of firm-specific shocks. The structural estimates and a simulation support the view that in order to understand pricing behaviour and the effectiveness of monetary policy, the analysis of multi-product firms and a richer price adjustment technology in the intermediate goods sector is valuable

Learning and Signalling by Adviser Selection

In this paper we consider a model where a policy maker uses advice in order to (1) obtain information about the consequences of an innovation (information motive) and (2) to support political legitimacy of her decision (persuasion motive). We conduct our analysis in the context of a cheap-talk game with three players: (1) a policy maker, (2) the median voter in parliament or of the electorate and (3) an advisor. The advisor has private information about the consequences of policy. Communication between an advisor and a recipient improves as their preferences are closer aligned. If the preferences of the policy maker and the median voter are different the policy maker faces a trade-off. On the one hand, she wants to gain information to judge whether the innovation is worthwhile. On the other hand, she needs to convince the median voter whether the innovation is desirable

Learning horizon and optimal alliance formation

We develop a theoretical Bayesian learning model to examine how a firm’s learning horizon, defined as the maximum distance in a network of alliances across which the firm learns from other firms, conditions its optimal number of direct alliance partners under technological uncertainty. We compare theoretical optima for a ‘close’ learning horizon, where a firm learns only from direct alliance partners, and a ‘distant’ learning horizon, where a firm learns both from direct and indirect alliance partners. Our theory implies that in high tech industries, a distant learning horizon allows a firm to substitute indirect for direct partners, while in low tech industries indirect partners complement direct partners. Moreover, in high tech industries, optimal alliance formation is less sensitive to changes in structural model parameters when a firm’s learning horizon is distant rather than close. Our contribution lies in offering a formal theory of the role of indirect partners in optimal alliance portfolio design that generates normative propositions amenable to future empirical refutation

R&D partnership portfolios and the inflow of technological knowledge

This article links research on parallel search and joint R&D to contribute a portfolio perspective to the study of knowledge flows within interfirm R&D partnerships. In a longitudinal analysis of firms engaged in R&D partnerships relating to information technology between 1975 and 1999, we show that the size of a firm's R&D partnership portfolio and its share of novel partners both have an inverted U-shaped effect on the inflow of technological knowledge from the firm's R&D partners. We also show how these direct effects vary as a function of the level of technological uncertainty within the portfolio

Limitations of student-driven formative assessment in a clinical clerkship. A randomised controlled trial

Background Teachers strive to motivate their students to be self-directed learners. One of the methods used is to provide online formative assessment material. The concept of formative assessment and use of these processes is heavily promoted, despite limited evidence as to their efficacy.Methods Fourth year medical students, in their first year of clinical work were divided into four groups. In addition to the usual clinical material, three of the groups were provided with some form of supplementary learning material. For two groups, this was provided as online formative assessment. The amount of time students spent on the supplementary material was measured, their opinion on learning methods was surveyed, and their performance in summative exams at the end of their surgical attachments was measured.Results The performance of students was independent of any educational intervention imposed by this study. Despite its ready availability and promotion, student use of the online formative tools was poor.Conclusion Formative learning is an ideal not necessarily embraced by students. If formative assessment is to work students need to be encouraged to participate, probably by implementing some form of summative assessment.Edward J Palmer and Peter G Devit

Technology-assisted education in graduate medical education: a review of the literature

Studies on computer-aided instruction and web-based learning have left many questions unanswered about the most effective use of technology-assisted education in graduate medical education

The Mayer-Rokitansky-Küster-Hauser syndrome (congenital absence of uterus and vagina) – phenotypic manifestations and genetic approaches

The Mayer-Rokitansky-Küster-Hauser (MRKH) syndrome affects at least 1 out of 4500 women and has for a long time been considered as a sporadic anomaly. Congenital absence of upper vagina and uterus is the prime feature of the disease which, in addition, is often found associated with unilateral renal agenesis or adysplasia as well as skeletal malformations (MURCS association). The phenotypic manifestations of MRKH overlap various other syndromes or associations and thus require accurate delineation. Since MRKH manifests itself in males, the term GRES syndrome (Genital, Renal, Ear, Skeletal) might be more appropriate when applied to both sexes. The MRKH syndrome, when described in familial aggregates, seems to be transmitted as an autosomal dominant trait with an incomplete degree of penetrance and variable expressivity. This suggests the involvement of either mutations in a major developmental gene or a limited chromosomal deletion. Until recently progress in understanding the genetics of MRKH syndrome has been slow, however, now HOX genes have been shown to play key roles in body patterning and organogenesis, and in particular during genital tract development. Expression and/or function defects of one or several HOX genes may account for this syndrome

Politieke en sociaal-economische opvattingen in Nederland - POLSECON 1987~Political and socio-economic opinions in the Netherlands - POLSECON 1987

Item does not contain fulltextPolitical interest, voting behaviour / timing of decision to vote / factors of importance regarding decision who to vote for: party-ideology / party leader / party programme / party candidates / party size / party campaign / party position in opinion polls / reasons not to vote / work in modern society: guaranteed minimum income/ permanent education/ unemployment and respect/ automation versus loss of jobs/ workers say in company matters / role of business and industry: full employment and profit rates / politics and business interests / prosperity / laissez faire ideology / role of government on socio-economic life: income differences / opinion on height of social benefits / purchasing power of lower income groups / salaries in private and public sector / development aid better spent at home ? / environmental care versus economic growth/ taxing versus public service / influence on economic development / control of tax evasion / control of misuse of social benefits / control of misuse subsidies by business and industry / opinion on level of taxation / satisfaction with government / expected success of Lubbers' unemployment policy / private financial situation and expectations for future 4 years / who make national policy ? / satisfaction with government regarding defending Dutch interest within the EC / opinion on delegation of powers to EC institutions / NATO / arms reduction or increase / nuclear arms reduction in NATO countries / cooperation within the European Community: no restrictions in place of work, exchange of goods and services / cooperation in solving economic problems / nationalism: EC politics too complicated to understand / preferred distribution of national income / cuts / preferred distribution of government budget across public services / law-abiding / protest actions / role of government towards disturbance of the peace / too much government involvement in private life of its citizens / political parties / MP's / members of parliament / representation / left-right rating main political parties / evaluation of government and cabinet ministers / trust in cabinet Lubbers 2 / position towards current government policy / participation in actions / parliamentary democracy / role of religion in politics / protest evaluation / willingness to protest / trust in members of parliament / system responsiveness / sense of political efficacy / electoral alienation / trust in ministers. Background variables: basic characteristics / residence/ household characteristics / occupation / employment / education / social class / politics / religio