Progressive managerial bonuses in a spatial Bertrand duopoly

The relationship of managerial bonuses and profit maximization is interesting both from an economic and a managerial viewpoint. Our contribution to this literature is showing that progressive managerial bonuses can increase profits in a spatial Bertrand competition, and furthermore they can help collusion

Efficacy of power training to improve physical function in individuals diagnosed with frailty and chronic disease: A meta-analysis

Muscle power training with emphasis on high-velocity of concentric movement improves physical functionality in healthy older adults, and, maybe superior to traditional exercise programs. Power training may also be advantageous for patients with acute and chronic illnesses, as well as frail individuals. To determine the efficacy of power training compared with traditional resistance training on physical function outcomes in individuals diagnosed with frailty, acute illness or chronic disease. PubMed (MEDLINE), CINAHL, PEDro, Web of Science, and Google Scholar. (1) at least one study group receives muscle power training of randomized controlled trial (RCT) (2) study participants diagnosed as prefrail, frail or have an ongoing acute or chronic disease, condition or illness; (3) study participants over the age of 18; (4) publication in English language; (5) included physical function as the primary or secondary outcome measures. Two independent reviewers assessed articles for inclusion and graded the methodological quality using Cochrane Risk-of- Bias tool for RCTs. Fourteen RCTs met the inclusion criteria. In seven studies, muscle power training was more effective at improving physical function compared to control activities with a mean fixed effect size (ES) of 0.41 (p = 0.006; 95% CI 0.12 to 0.71). Power training and conventional resistance training had similar effectiveness in eight studies with a mean fixed ES of 0.10 (p = 0.061; 95% CI –0.01 to 0.40). Muscle power training is just as efficacious for improving physical function in individuals diagnosed with frailty and chronic disease when compared to traditional resistance training. The advantages of power training with reduced work per session may support power training as a preferential exercise modality for clinical populations. The findings should be interpreted with caution since generalizability is questioned due to the heterogeneity of patient populations enrolled and participants were relatively mobile at baseline

Quota bonuses as localized sales bonuses

Managerial bonus schemes and their effects on firm strategies and market outcomes are extensively discussed in the literature. Though quota bonuses are not uncommon in practice, they have not been analysed so far. In this article we compare quota bonuses to profit-based evaluation and sales (quantity) bonuses. In a duopoly setting with independent demand shocks we find that under certain circumstances choosing quota bonuses is a dominant strategy. This may explain the widespread use of quota bonuses in situations where incentive problems are relevant

A Note on Managerial Delegation with Asymmetric and Convex Costs

In this note, we investigate if the standard result by the managerial delegation literature, i.e., the sub-game perfect Nash equilibrium is not Pareto-optimal from the firms' viewpoint, still applies when asymmetric and convex costs are introduced into the analysis. In such a framework, the managerial delegation choice still represents a sub-game Nash perfect equilibrium, but the more efficient firm may obtain higher profits provided that the degree of cost asymmetry between firms is sufficiently large

First identification of Bartonella coopersplainsensis in wild rodents (Rattus norvegicus) in Greece

Η μελέτη αυτή ήταν μια πρώτη προσπάθεια για ανίχνευση της Bartonella sp. σε ιστούς (ήπαρ και καρδιά) πουπάρθηκαν από άγρια τρωκτικά {Rattus norvegicus) στην κεντρική Ελλάδα. Εξετάστηκαν δεκαοκτώ (18) δείγματα ήπατος και δεκαοκτώ (18) δείγματα καρδιάς, τα οποία προέρχονταν από είκοσι τρία (23) ζώα. Δυο (2) δείγματα ήπατος βρέθηκαν θετικάενώ όλα τα δείγματα καρδιάς ήταν αρνητικά για το γονίδιο 16S-23S intergenic spacer rDNA της Bartonella sp. Η αλληλουχίατων βάσεων του DNA των θετικών δειγμάτων και η σύγκριση με τα διαθέσιμα δεδομένα της GenBank με τη χρησιμοποίησητου προγράμματος BLAST, αποκάλυψε το ίδιο είδος Bartonella και στα δύο θετικά δείγματα με 100% ομοιότητα με τηναλληλουχία των βάσεων της Bartonella coopersplainsensis. This study was a preliminary attempt to detect Bartonella sp. in tissues (liver and heart) obtained from wild rodents {Rattus norvegicus) in central Greece. Eighteen (18) liver and eighteen (18) heart samples were examined, which were obtained from twenty three (23) animals. Two (2) liver samples were found positive, while the heart samples examined were found negative for Bartonella sp. 16S-23S intergenic spacer rDNA gene by PCR. Sequencing of the positive PCR products and comparison with those available in GenBank using the BLAST program revealed the same species of Bartonella in both positive samples with 100% sequence homology to Bartonella coopersplainsensis

Regional Restriction, Strategic Delegation, and Welfare

We investigate the effects of restricting locations of firms into Hotelling duopoly models. In the standard location-price models, the equilibrium distance between firms is too large from the viewpoint of consumer welfare. Thus, restricting locations of firms and reducing the distance between firms improve consumer welfare, through lower prices and smaller transportation costs for consumers. We introduce strategic reward contracts into the location-price models. We find that in contrast to the above existing result, restriction of the locations of firms reduces consumer welfare. Restricting locations of the firms reduces transportation costs but increases the prices through the change of strategic commitments by the firms, and it yields a counterintuitive result

Institutional Authority and Collusion

A 'collusion puzzle' exists by which, even though increasing the number of firms reduces the ability to tacitly collude, and leads to a collapse in collusion in experimental markets with three or more firms, in natural markets there are such numbers of firms colluding successfully. We present an experiment showing that, if managers are deferential towards an authority, firms can induce more collusion by delegating production decisions to middle managers and providing suitable informal nudges. This holds not only with two but also with four firms. We are also able to distinguish compliance effects from coordination effects

Endogenous managerial compensation contracts in experimental quantity-setting duopolies

Given the ongoing debate on managerial compensation schemes, our paper offers empirical insights on the strategic choice of firms' owners over the terms of a managerial compensation contract, as a commitment device aiming at gaining competitive advantage in the product market. In a quantity setting duopoly we experimentally test whether firms' owners compensate their managers through contracts combining own profits either with revenues or with relative performance, and the resulting managerial behaviour in the product market. Prominent among our results is that firms' owners choose relative performance over profit revenue contracts more frequently. Further, firms' owners successfully induce a more aggressive behaviour by their managers in the market, by setting incentives which deviate from strict profit maximization