Dynamic cointegration and relevant vector machine: the relationship between gold and silver

We use the Relevant Vector Machine, a technique of supervised learning introduced by Tipping (2001), to conduct a dynamic cointegration analysis on the time series of the price of gold and silver over the period 1971-2004. Unlike the results of traditional cointegration analysis, this study reveals that there is a dynamic long run relationship over the whole periodDynamic cointegration, relevant vector machine

Consumers’ perception of Prosecco wine packaging: A pilot study in Padua and Milan

This paper aims to illustrate and discuss the importance of packaging attributes in the wine market. A survey was conducted in the north of Italy to assess how different attributes affect the probability of choosing a bottle of Prosecco wine. Two hundred face-to-face interviews based on a structured questionnaire were administered in Milan and Padua supermarkets to elicit preferences. Each respondent ranked three new bottles of Prosecco wine and expressed the importance of different packaging characteristics in its choice. Product attributes include Label’s form, Label’s colours, the Label in its entirety, the Writing “Prosecco”, the Band on the bottle’s neck and the Bottle’s shape. The interviews allowed us to recognise the bottle customers found the most attractive, and rank-ordered logistic regression was able to disentangle which packaging characteristic led to their decision

Revisiting the relationship between welfare spending and income inequality in OECD countries

The present paper estimates the effects of welfare interventions on income inequality. We propose a theoretical model showing that welfare policies follow the median voter constituency regardless of whether governments are center-left or center-right in the majority electoral system, whereas large differences exist between center-left and center- right coalitions in the proportional representation system. We exploit these differences in the mechanisms of welfare expenditure to estimate their elasticities on income inequality and find that a 1% increase in government spending reduces the Gini income index by half a percentage point. This result is robust under different compositions of expenditure, alternative imputation model specifications and falsification tests

European Working Time Directive : a prescription for regulating junior doctors' Working Time?

This study explores attempts to regulate working time in a particular part of the medical sector. The specific focus is upon the perceptions and experiences of those in whose benefit the legislation purports to be, namely the junior doctors. It considers how the broader debates surrounding the European Working Time Directive (EWTD) are manifested in this specific section of the medical profession. The study argues that historical modes of regulation through self-governance, professional autonomy and minimal state intervention have helped to foster opposition to the EC law among many senior doctors. Their views about working-time regulation are compared to those provided by junior doctors. This enables an assessment of the ways in which traditional self-regulation has been overtaken by subsequent forms of governance in the medical profession, namely new public management and statutory control. The accommodation in process underlines the significance of the medical profession's exclusive culture and socialisation processes. These processes facilitate the transmission of ideas on issues such as work conditions, and occupational resistance to measures such as the Directive. Conversely, the difference in attitudes between senior and junior doctors reflects the evolving nature of the profession in response to increasing in managerial authority and state intervention. Following on from these debates, the study explores the processes by which the various modes of regulation have been implemented and enforced. It considers the respective roles played by the state, hospital managers and the medical profession, exploring the impact of working time regulation, with particular reference to doctors' health, medical training, and medical staffing and services. The study provides an assessment of the emerging impact of the regulation itself. The study draws upon a mix of methods including semi-structured interviews with Pre-Registration House Officers and elite figures. The latter comprise policy-makers at EC, UK and devolved levels senior figures within the medical and health services, including employer and employee representatives and members of both the UK and European judiciary. Questionnaire surveys were also administered to all PRHOs practising in Wales. The study concludes that a combination of factors have diluted the potential impact of the EWTD. These include the inadequate monitoring and enforcement mechanisms of a regulation whose fundamental terms have been 'fudged' by the state on the one hand, and the widespread application of a rigid shift system by the medical profession and hospital managers to junior doctors' training and service on the other. As a result, views on the EWTD are inconsistent and the degree of compliance with its provisions is variable.EThOS - Electronic Theses Online ServiceGBUnited Kingdo

How Product Attributes and Consumer Characteristics Influence the WTP, Resulting in a Higher Price Premium for Organic Wine

Sustainable production systems have become a relevant issue for consumers in the wine industry. Several studies have revealed that consumers are increasingly interested in organic wine and have attempted to estimate the price premium that consumers would have to pay for this ‘new’ product. The aim of this paper is to assess the role of organic attributes in driving consumer choice, and how consumer socio-demographic characteristics influence the price premium for organic wine. An on-line survey was administrated among Italian wine consumers (N = 317) and an ordinal logistic regression model, based on cumulative probability distribution, was estimated. The results show important differences in the Willingness to Pay (WTP) between different market segments. Younger people have a more positive attitude towards wine with sustainable characteristics, and we found that consumers aged under 50 have a higher WTP. Price is another attribute that affects preferences for organic wine: consumers that state that price is a very important factor in the choice of a bottle are less willing to pay for organic wine. Consumers characterized by a low consumption frequency have a higher WTP for organic wine

Perceived social support and parental education as determinants of adolescents’ physical activity and eating behaviour: a cross-sectional survey

Abstract Purpose: To examine the role of perceived social support and parental education on physical activity and eating behaviour of Ghanaian adolescents. Methods: Seven hundred and seventy Senior High School students (504 boys and 266 girls) between the ages of 14–21 years participated by completing questionnaires on perceived social support, physical activity and eating behaviour. The highest education attained by either parent or guardian was also obtained. Multivariate analysis of covariance was the main statistical test used to analyse the data. Results: The results showed significant gender differences in physical activity and eating behaviour combined, with boys more likely to engage in physical activity than girls, and girls also more likely to engage in healthy eating behaviour than boys, albeit the effect was not statistically significant. While perceived social support had a significant positive effect on eating behaviour and physical activity, parental education had a significant effect only on eating behaviour but not physical activity. Conclusion: Perceived social support from family coupled with parental education provides more opportunities for adolescents to engage in healthy eating behaviour. Also, parents’ educational attainment alone does not necessarily guarantee that adolescents will engage in physical activity; providing the needed social support and conducive home environment is more likely to induce physical activity behaviours. Finally, physical activity and eating behaviour should not be construed as alternative health behaviours as suggested by gender differentials in these health behaviours.</jats:p

Consumers' Willingness to Pay for Quality and Safety in Clams

The aim of the research is to estimate the potential demand for certified clams in Italy and to investigate the determinants of maximum amount that respondents are willing to pay for this product. Quantitative analysis was used based on 1,067 face-to-face interviews collected in 3 Italian regions in the north bordering the Adriatic Sea (Friuli-Venezia Giulia, Veneto, and Emilia-Romagna) carried out during 2008. The consumers' willingness to pay (WTP) is measured using a contingent valuation method. In order to estimate separately the determinants of the probability that respondents are willing to pay and the maximum that they are willing to pay, a generalization of Tobit model was adopted. The results indicate that consumers are willing to pay a premium price mainly to purchase better quality products. The research provides some initial insight into consumers' WTP that can be useful for certified fish farming. © 2014 Taylor & Francis Group, LLC

Validez concurrente de la versión mexicana de las escalas de Apoyo Social Percibido de la Familia y los Amigos (PSS-Fa y PSS-Fr)

El presente estudio tuvo como objetivo probar las cualidades psicométricas de las escalas PSS-Fa y PSS-Fr (Procidano & Heller, 1983), obteniendo su validez concurrente. El estudio se llevó a cabo en estudiantes mexicanos de nivel universitario con edades entre 18 a 31 años. Se calcularon las correlaciones de las escalas de interés con otras variables teóricamente vinculadas al Apoyo Social Percibido como son el Estrés Percibido (PSS), Optimismo (LOT-R O), Pesimismo (LOT-R P), Estilos de Apego (RQ), Satisfacción en la Vida (SWLS), Número de la red de Apoyo y Satisfacción con la red de apoyo (SSQ6-N y SSQ6-S), Afecto Positivo y Negativo (PANAS-AP y AN), y Deseabilidad Social como variable de control (MC-SDS). También se realizaron comparaciones entre los extremos alto y bajo en apoyo social, encontrándose diferencias significativas en algunas de las variables criterio. Se concluye que las escalas cuentan con evidencia empírica de su adecuada validez convergente y divergente y su poder discriminante para poder el medir apoyo social percibido