Citizens–experts’ interactions under different institutional arrangements: assessing the role of uncertainty, interests, and values

2019 ◽  
Vol 15 (5) ◽  
pp. 861-879
Author(s):  
Francesco Bogliacino ◽  
Cristiano Codagnone ◽  
Giuseppe Alessandro Veltri
Keyword(s):  
Cost Benefit Analysis ◽  
Value Relevance ◽  
Epistemic Uncertainty ◽  
Cost Benefit ◽  
Institutional Arrangements ◽  
Value Conflicts ◽  
Normative Criterion ◽  
The Relationship ◽  
Deliberative Governance

AbstractIn this paper, we develop a framework to analyze the relationship between evidence and policy. Postulating a normative criterion based on cost–benefit analysis and the value of a piece of information, as well as a topology of the policy space defined by three characteristics (epistemic uncertainty, interests, and the degree of value conflicts), we identify the (Nash) equilibria of an interaction between experts and citizens in providing information to a decision maker. In this setup, we study three institutional arrangements (evidence-based policy, deliberative governance, and negotiated conflict) that differ in terms of reliance on experts and citizens for providing information. We show that different degrees of uncertainty, interests, and value-relevance surrounding the issue at stake result in vastly different arrangement performances; hence, to foster efficiency, rules should be contingent.

Hostile Takeovers and Anti-takeover Defenses in the Russian Corporate Market

2007 ◽  
pp. 70-84 ◽  
Author(s):  
E. Demidova
Keyword(s):  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Benefit Analysis ◽  
Costs And Benefits ◽  
Hostile Takeovers ◽  
Russian Market ◽  
Takeover Defenses ◽  
The Cost ◽  
European Markets

This article analyzes definitions and the role of hostile takeovers at the Russian and European markets for corporate control. It develops the methodology of assessing the efficiency of anti-takeover defenses adapted to the conditions of the Russian market. The paper uses the cost-benefit analysis, where the costs and benefits of the pre-bid and post-bid defenses are compared.

Rationalisation of non-sterile latex disposable gloves in clinical settings – a brief study using the purchase of expertise consultancy model

2003 ◽  
Vol 4 (1) ◽  
pp. 10-19
Author(s):  
Duncanson V
Keyword(s):  
Secondary Care ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Clinical Nurse Specialist ◽  
Small Study ◽  
Clinical Settings ◽  
Nurse Specialist ◽  
Benefit Analysis ◽  
Clinical Nurse

T his article describes a small study aimed at making a purchasing recommendation to the purchasing manager, providing a cost-benefit analysis of the most commonly used brands of non-sterile latex examination gloves. One of the nine makes of glove tested remained consistent with the agreed criteria for assessment and, if introduced as the only option available, would result in a saving of $15,150 per annum on Site A of a recently merged secondary care Trust. Also, the importance of the consultancy role of the clinical nurse specialist in improving practice was demonstrated.

IFRS Adoption and Audit Delay: The Role of Shareholders in the Audit Committee

2018 ◽  
Vol 8 (1) ◽  
pp. 325
Author(s):  
Ishaq Ahmed Mohammed ◽  
Ayoib Che-Ahmad ◽  
Mazrah Malek
Keyword(s):  
Audit Committee ◽  
Unobserved Heterogeneity ◽  
Value Relevance ◽  
Stock Exchange ◽  
Delay Model ◽  
Corporate Reporting ◽  
Ifrs Adoption ◽  
The Difference ◽  
The Relationship

This study examined the relationship between audit delay after IFRS adoption and the role of shareholders in the audit committee as well as testing the difference of pre-and post IFRS adoption periods. A sample of 101 firms with 505 firm-year observations over five year period for firms listed on the Nigeria Stock Exchange was employed for the study, utilizing data from the annual report and accounts of the sample firms. Generalized Methods of Moment (GMM) estimation was used to check the effects of unobserved heterogeneity in audit delay model, while the test of difference in R2 value for pre-and post-adoption periods was determined using Cramer’s Z-statistics. Findings indicate that audit report lag is faster with shareholders in the audit committee. The study proved that brand named auditors such as Big4 can significantly perform faster audit task than non-Big4 firms in IFRS regime. The importance of the study’s findings demonstrates statistical inference on value relevance increase based on the unique IFRS adoption in Nigeria. Thus, regulators should consider increasing the tenure of shareholders in the audit committee to enable them to become more familiar with the corporate reporting under IFRS regime.

Drug costs and treatment choices: a DTB symposium

1993 ◽  
Vol 31 (11) ◽  
pp. 41-44
Keyword(s):  
Cost Benefit Analysis ◽  
Health Benefit ◽  
Cost Benefit ◽  
Drug Costs ◽  
Benefit Analysis ◽  
Treatment Choices ◽  
The Subject ◽  
The Cost ◽  
The Relationship ◽  
Service Managers

The relationship between drug costs and treatment choices was the subject of the first annual Drug and Therapeutics Bulletin symposium held in March 1993.* In a time of severe financial constraints for the NHS it is important that the money available is well spent. In the case of treatment that means the benefits must be worth the cost. There is, however, no agreed way of deciding when a particular health benefit to an individual is worth the cost to the NHS. Drug prices are easier to measure and more consistent than the prices of other treatments, and may be more amenable to cost-benefit analysis. Treatment choices are made primarily by doctors but with critical input from patients, pharmacists, nurses and health service managers. In this article we give an overview of the symposium at which speakers described ways in which drug costs and treatment choices were tackled in general practice (Ann McPherson, John Howie), in hospital (Dorothy Anderson), in clinical research and audit (Iain Chalmers, Alison Frater), by consumers (Anna Bradley), by health economists (Mike Drummond) and by government (Joe Collier). We also take into account points raised in discussion by the participants.

The Role of the Discount Rate in Cost–Benefit Analysis Between Theory and Practice: A Comparative Survey

2013 ◽  
Vol 4 (1) ◽  
pp. 59-71
Author(s):  
Felice Simonelli
Keyword(s):  
Discount Rate ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Theory And Practice ◽  
Benefit Analysis ◽  
Economic Literature ◽  
Institutional Practice ◽  
Two Samples ◽  
Regulatory Decisions

This study focuses on the role of the discount rate in cost–benefit analysis (CBA) of regulation, providing a systematic investigation into regulatory practice vis–à–vis the existing economic theories. In the first part, a quick survey of the main economic literature on the social discount rate (SDR) is presented. In the second part, the current institutional practice is investigated, firstly comparing the recommendations on discounting issued by institutional actors in the US (Office of Management Budget, Environmental Protection Agency) and the EU (Commission), and secondly examining the SDRs adopted in two samples of CBAs selected among Regulatory Impact Analyses of US EPA and Impact Assessments of EU Directorate–General for the Environment. A gap exists between economic theory and institutional practice in the selection of the SDR. Regulatory decisions which are based on CBA reflect the most workable economic literature on discounting rather than the most theoretically consistent one, thus yielding less reliable and less robust results. Scholars who aim at improving the quality of rule–making and at fostering the application of CBA in regulatory decisions should improve the “operational validity” of their research, thus providing practitioners with methods that are both consistent and workable.

Why They Fight: How Perceived Motivations for Military Service Shape Support for the Use of Force

2021 ◽  
Author(s):  
Ronald R Krebs ◽  
Robert Ralston ◽  
Aaron Rapport
Keyword(s):  
Military Service ◽  
Cost Benefit Analysis ◽  
Public Support ◽  
Cost Benefit ◽  
Good Citizen ◽  
Political Partisanship ◽  
Nationally Representative ◽  
And Gender ◽  
The One ◽  
The Relationship

Abstract What shapes public support for military missions? Existing scholarship points to, on the one hand, individuals’ affiliations and predispositions (such as political partisanship and gender), and, on the other hand, factors that shape a rational cost–benefit analysis (notably, mission objectives, the prospects for victory, and the magnitude and distribution of costs). We argue that public opinion is also shaped by beliefs about why soldiers voluntarily enlist. Using novel survey data and an experiment, deployed to a nationally representative sample of Americans, we test how four conceptions of soldiering affect support for a prospective military operation. We find, in observational data, that believing that a soldier is a good citizen or patriot bolsters support for the mission, while believing that a soldier has enlisted because he wants the material benefits of service or has “no other options” undermines support. These results support our causal argument: Americans’ attitudes toward military missions are shaped by their perception of whether the soldier has consented to deployment rather than by feelings of social obligation. This article has implications for debates on the determinants of public support for military missions and the relationship between military service and citizenship in democracies.

The Role of Science

2011 ◽  
Author(s):  
Gilles Saint-Paul
Keyword(s):  
Social Sciences ◽  
Population Distribution ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Social Planner ◽  
The Social ◽  
The Cost ◽  
Gains And Losses ◽  
Social Engineer

This chapter describes the social sciences. Unlike the natural sciences, the social sciences are inevitably statistical. When documenting human behavior, for example, they can at most claim that a trait is present in a certain fraction of the population. However, the social engineer of the paternalistic state must take into account that the “science of happiness” that is being implemented does not apply uniformly to all individuals. A policy that benefits some by preventing mistakes or removing their biases harms those who are immune to these issues. This difficulty, however, entirely disappears as long as the state is utilitarian or, more generally, pursues any objective that aggregates welfare between individuals, for the statistics are the only thing the utilitarian needs to know. Once the population distribution of the relevant effects and mechanisms is known, the social planner can safely use it to balance gains and losses across incarnations and perform the cost-benefit analysis of its policies.

Freedom from Development

2019 ◽  
Vol 12 (2) ◽  
pp. 323-349
Author(s):  
Michael Ilg
Keyword(s):  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Essential Elements ◽  
Social Citizenship ◽  
Wealth Creation ◽  
Role Of Government ◽  
The Third ◽  
Phases Of Development ◽  
Traditional Approaches

Abstract This paper proposes that there are three essential elements or phases of development: (i) systemic capacity; (ii) individual capability, and (iii) social citizenship. Significantly, the role of government within each element of development is decidedly different. Systemic capacity refers to the development of the economic means, or wealth creation, needed to provide society with services and public goods. Capability building refers to providing individuals with the basic conditions required to live a long and fulfilling life, such as health and education. Social citizenship recognizes that values held by individuals and groups will often conflict, and there is rarely a singular social end that can determine life in a free society. Fostering citizenship reflects the importance of belonging, and the obligations, responsibilities, and restraint that individuals owe to others, society, and the environment. This third element is a notable departure from many traditional approaches to development, which tend to concentrate on development as largely a process of feeding individual needs. The proposed approach is labelled “freedom from development,” for it is premised on the recognition that while society often benefits from the pursuit of traditional development, it does not do so exclusively nor without qualification. So while there are many instances in which development is a desirable social end, as when people derive greater capabilities from economic growth, there are also situations when the end of development must be displaced in favour of other social priorities. For example, there are times when markets yield freedom, and times when the freedom people crave will be found in rejecting the market altogether. Freedom from development suggests that values represented under the third element of citizenship will often have come at the expense of those of the first two elements, meaning that development in a traditional manner is superseded in a given context. In order to determine when freedom from development is socially desirable, it is suggested that a form of cost-benefit analysis is implicitly conducted, comparing the economic and individual gains available under the first two elements with the potential social gains from belonging under the third element of citizenship.

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