Comparing Small-Group and Individual Behavior in Lottery-Choice Experiments

Lottery-choice experiments are conducted to compare risk preferences revealed by three-person groups versus isolated individuals. A lottery-choice experiment consists of a menu of paired lottery choices structured so that the crossover point from a low-risk to a high-risk lottery can be used to infer the degree of risk aversion. A between-subjects experiment of group versus individual lottery-choice decisions reveal that there is not a significant difference in the average crossover point, but lottery choices are affected by a significant interaction between subject composition (individual or group) and lottery winning percentage. Also, a three-phased individual-group-individual sequenced experiment reveals that the count of safe lotteries chosen by groups is, on average, significantly greater than the mean of the individual members. Finally, making a phase-two group decision has a significant impact on subsequent phase-three individual decisions relative to the initial phase-one (individual) decisions.lab experiments, risk preferences, group decisions

Comparing Small-Group and Individual Behavior in Lottery-Choice Experiments

Lottery-choice experiments are conducted to compare risk preferences revealed by three-person groups versus isolated individuals. A lottery-choice experiment consists of a menu of paired lottery choices structured so that the crossover point from a low-risk to a high-risk lottery can be used to infer the degree of risk aversion. A between-subjects experiment of group versus individual lottery-choice decisions reveal that there is not a significant difference in the average crossover point, but lottery choices are affected by a significant interaction between subject composition (individual or group) and lottery winning percentage. Also, a three-phased individual-group-individual sequenced experiment reveals that the count of safe lotteries chosen by groups is, on average, significantly greater than the mean of the individual members. Finally, making a phase-two group decision has a significant impact on subsequent phase-three individual decisions relative to the initial phase-one (individual) decisions.lab experiments, risk preferences, group decisions

Norchem drug testing: A small company's lean journey: Working paper series--13-02

In response to competitive pressures and business opportunities, Norchem Drug testing had committed to and successfully pursued a transition to lean thinking and processes. Norchem, a small, northern Arizona drugs of abuse testing laboratory served clients across the West and Midwest of the U.S. In business for approximately 15 years, Norchem had grown steadily and profitably due, in part, to its relentless application of lean. Initially starting with lab operations, it had begun to extend lean thinking into other functions of the company, notably the accounting/finance area. Bill Gibbs, the CEO, and some of his staff described the struggles and successes of implementing lean in a small, service-oriented company. While many in-house processes had achieved an enviable level of lean, there were still areas in which it was striving to reduce waste and improve processes. Of specific concern was its relationship with a major supplier. As a small customer of a larger supplier, Norchem was challenged to influence the supplier to better support Norchem's lean processes. In addition, the company was reconsidering its strategy of customer responsiveness due to a changing market that has again increased competitive price pressure

Pecha Kucha for lean and sticky presentations in business classes: Working paper series--12-03

We incorporated Pecha Kucha presentations into three business classes helping students to achieve more focused and engaging presentations. Pecha Kucha is a highly structured yet flexible style of presentation which requires twenty visual slides with few words that are automatically displayed for twenty seconds. While the response of students as presenters and as audience members, and faculty was positive, presenters found the limited content and time challenging, suggesting the need for additional practice with this approach. Audiences found the presentations engaging. Professors found that Pecha Kucha requires students to focus on their message and visually engage the audience which are useful presentation skills

Estimating the economic benefits of wind energy projects using NREL's JEDI model with Monte Carlo simulation: Coconino and Navajo County, Arizona: Working paper series--06-04

A process was developed to evaluate the county-level economic benefits from constructing and operating a wind energy project. Specifically, an economic input/output analysis was used in conjunction with Monte Carlo simulation to determine the economic impacts. Two northern-Arizona counties, Coconino County and Navajo County, were analyzed to demonstrate the process. The National Renewable Energy Laboratory's Jobs, Economic Development, and Impacts (JEDI) model is used to estimate the economic benefits generated by both the construction phase and the operations and maintenance (O&M) phase of a wind energy project. As there is uncertainty in some of the required input parameters, Monte Carlo simulation allows the input parameters to be entered as a range. The results of the JEDI model with Monte Carlo simulation analysis produce a distribution for: Jobs during construction; Jobs during the O&M phase; Earnings during the construction phase; Annual Earnings during the O&M phase; Economic activity during the construction phase; Annual Economic Activity during the O&M phase. In addition to these results, a sensitivity analysis was performed and indicated that the input parameters of construction cost, annual operating cost, local share percentage for construction, and local share percentage for high-voltage substation/interconnection affect the results from the JEDI model most significantly and effort should be spent carefully estimating these input parameters

The effect of learning styles on course performance: A quantile regression analysis: Working paper series--08-02

In this study, we investigated the relationship between student performance and learning styles for students enrolled in a basic business statistics course. This course used a learner-centered approach that incorporated multiple teaching styles. To assess our success in designing a course that facilitates learning for all learning styles, we evaluated the impact of students' learning style on their performance in the course. To accomplish this analysis, we utilized quantile regression, a statistical technique from the economics literature developed by Koenker and Bassett (1978) that is an alternative to the classical ordinary least squares (OLS) regression. Quantile regression allowed investigation of a more complete picture of student performance over the entire population as opposed to the mean effect from OLS regression. Learning style was not significant in determining a student's overall course score for the entire cohort of students. For small cohorts of students, learning styles were significant for exam average. That is, some students experienced either a disadvantage or advantage due to their learning style for the exam course component. However, for the overall course performance, a student with a particular learning style was neither advantaged nor disadvantaged

Exploring the quality of life at the end of life (QUAL-E) instrument with Australian palliative care hospital patients: hurdles and directions

The provision of care that enhances the quality of life at the end of life is a fundamental goal of palliative care services. This pilot study explored the application of the Quality of Life at the End of Life (QUAL-E) instrument in a sample of 52 patients who were hospitalized in two metropolitan Western Australian hospitals. Participants were given the option to complete the QUAL-E either as a self-report (n = 9, 17.3 percent) or, aided by a research assistant, as a structured interview (n = 43, 82.7 percent). The instrument demonstrated patient acceptability and face validity, particularly when it was administered with the assistance of a research assistant. Despite having difficulty with some questions, patients expressed their appreciation at being given the opportunity to contribute to the research and to reflect upon and give voice to their thoughts and feelings. Health practitioners indicated that the instrument could be a valuable tool for holistic assessment and service evaluation. We suggest that minor changes be made to the QUAL-E before it is used further in an Australian context; we also recommend that this instrument be tested in other settings and populations

Using Toyota's A3 thinking for analyzing MBA business cases: Working paper series--10-02

In order to actualize some of the concepts that students read and discussed from The Toyota Way by Jeffrey Liker, we incorporated A3 Thinking and A3 Reports into the case analysis dimension of our MBA core, team-taught class, Managing People and Processes. The class developed an A3 report format that is a variation of that given in Sobek and Smalley (2009). In addition to actualizing these concepts, several other advantages were experienced. Both students and faculty have found that A3 thinking added value to case analysis, class discussion, and student presentations because it pushed student thinking and the focus of analysis into key issues and root causes which might be overlooked in a more intuitive problem-solving approach. In addition, the A3 process added transparency to the students' analysis and discouraged them from obfuscating to cover a lack of or weakness in cogent thinking. Further, A3 thinking provided a mechanism to help student groups structure their collaboration. Finally, emphasis on the conciseness and graphics comprising leaner communication helped students improve the "stickiness" (Heath & Heath, 2007) of their communications

Evaluating the most promising sites for wind energy development in Arizona USA: Working paper series--05-09

During the summer of 2003, the state of Arizona took delivery of a set of high-resolution wind energy maps. After applying various exclusions, the developable wind energy potential is 23,290 MW of class 3 or higher, 2,630 MW of class 4 or higher, and 775 MW of class 5 or higher winds. Having determined the potential wind resource, the geographical information system data supplied with the wind maps was used to create a wind resource inventory and to systematically identify the most promising sites for wind energy development. In addition to wind energy potential, proximity to transmission lines and roads, and land ownership were considered in this analysis. Following that, the cost of energy was estimated at a few geographically diverse sites, including class 3, 4, and 5 wind resource areas, at a hub height of 70 m. These estimates revealed that the real levelized cost of energy in 2005 dollars ranged from 4.21 to 5.04 cents per kWh, as the wind class varies from 5 to 3. This paper documents the findings of the wind mapping process, describes the method and results of evaluating the most promising sites for wind development, and presents the cost of energy results

Re-branding the leper colony: Challenges of changing culture and managing difficult people: Working paper series--09-10

Anika, a new manager, is confronted by a dysfunctional organizational culture characterized by employee disrespect, insubordination, and low performance. Her charge is to "to turn the place around". The case takes place in a service organization, a testing range run by the US Department of Defense. The staff is a combination of federal and contract employees who test clients' high-tech systems in a sometimes dangerous, desert environment. In addition, there are three vignettes that give a portrait of dysfunctional individual behaviors. Frequently, the response students want to make is "I'd just fire the guy." Unfortunately, it is not so simple