scholarly journals Pensions Auto-Enrolment: Unintended Consequences of Regulation and Private Law Remedies

2017 ◽  
Vol 21 (3) ◽  
pp. 352-375 ◽  
Author(s):  
Amanda Wyper
Keyword(s):  
Decision Making ◽  
Financial Services ◽  
Free Choice ◽  
Unintended Consequences ◽  
Private Law ◽  
Negative Consequences ◽  
Opt Out ◽  
Contract Of Employment ◽  
Minimum Criteria ◽  
Workplace Pensions

The introduction of auto-enrolment (AE) into workplace pensions in 2012 requires employers to enrol workers into a pension. Employers have significant discretion in this process and rely on the financial services industry to ensure compliance with AE minimum standards. Employers may not always have pension expertise and will engage pension providers for advice on establishing compliant pension arrangements or modifying existing schemes to use for AE. Whilst this policy benefits many, there are a number of negative consequences flowing from the introduction of AE. Examples include employers choosing poorly performing schemes, insufficient protection of free choice and poor default positions replacing active decision making, all of which result in poor value for some employees. The parties' interests may not always be aligned. Despite the minimum criteria, there can be significant variations between fund costs and scheme quality as private sector pensions are frequently used for compliance. Whilst the ability of employees to opt-out provides legitimacy for the regime, the form of implementation and use of defaults erodes the exercise of choice and there are no provisions to encourage engagement and active decision-making by individuals. In addition to this, inadequate advice impacts on the effects of AE for many. For some this means that they pay in less overall than they would have if they had voluntarily chosen to contribute to a plan. This article explores whether further statutory change to the AE regime is required or whether existing private law remedies, with a focus on Scots law, afford sufficient remedies for those suffering loss. If fiduciary, agency, contractual or delictual obligations arise from the AE relationship then this may provide adequate remedies. This article will consider whether fiduciary duties are owed to employees, particularly by the employer (as an agent) to the employee, and the extent of duties owed under the contract of employment.

scholarly journals Evaluating underpinning, complexity and implications of ethical situations in humanitarian operations: qualitative study through the lens of career humanitarian workers

BMJ Open ◽  
2020 ◽  
Vol 10 (9) ◽  
pp. e039463
Author(s):  
Ramin Asgary ◽  
Katharine Lawrence
Keyword(s):  
Decision Making ◽  
Social Constructivism ◽  
Moral Distress ◽  
Unintended Consequences ◽  
Aid Effectiveness ◽  
International Agency ◽  
Negative Consequences ◽  
Ethical Challenges ◽  
Ethical Frameworks ◽  
Humanitarian Operations

IntroductionData regarding underpinning and implications of ethical challenges faced by humanitarian workers and their organisations in humanitarian operations are limited.MethodsWe conducted comprehensive, semistructured interviews with 44 experienced humanitarian aid workers, from the field to headquarters, to evaluate and describe ethical conditions in humanitarian situations.Results61% were female; average age was 41.8 years; 500 collective years of humanitarian experience (11.8 average) working with diverse major international non-governmental organisations. Important themes included; allocation schemes and integrity of the humanitarian industry, including resource allocation and fair access to and use of services; staff or organisational competencies and aid quality; humanitarian process and unintended consequences; corruption, diversion, complicity and competing interests, and intentions versus outcomes; professionalism and interpersonal and institutional responses; and exposure to extreme inequities and emotional and moral distress. Related concepts included broader industry context and allocations; decision-making, values, roles and sustainability; resource misuse at programme, government and international agency levels; aid effectiveness and utility versus futility, and negative consequences. Multiple contributing, confounding and contradictory factors were identified, including context complexity and multiple decision-making levels; limited input from beneficiaries of aid; different or competing social constructs, values or sociocultural differences; and shortcomings, impracticality, or competing philosophical theories or ethical frameworks.ConclusionsEthical situations are overarching and often present themselves outside the exclusive scope of moral reasoning, philosophical views, professional codes, ethical or legal frameworks, humanitarian principles or social constructivism. This study helped identify a common instinct to uphold fairness and justice as an underlying drive to maintain humanity through proximity, solidarity, transparency and accountability.

A Study on Investment Decision of Investors With Reference to Penetration of Mutual Funds in India

2016 ◽  
Vol 5 (2) ◽  
Author(s):  
Ratish C Gupta ◽  
Dr. Manish Mittal
Keyword(s):  
Decision Making ◽  
Real Estate ◽  
Mutual Funds ◽  
Capital Markets ◽  
Mutual Fund ◽  
Financial Services ◽  
Investment Decision ◽  
Fund Industry ◽  
Mutual Fund Industry ◽  
The Impact

The Indian mutual fund industry is one of the fastest growing and most competitive segments of the financial sector. The extent of under-penetration in the market is a sore point with the financial services industry, with a large amount of savings being channelized into fixed deposits, gold and real estate rather than the capital markets. The mutual fund industry is yet to spread its reach beyond Tier I cities. The top fifteen cities contribute to 85% of the pie, with the remaining 15% distributed among other cities. The study seeks to determine the impact of decision making of investors on current situation of mutual fund industry.

Psychology and the New Private Law

2020 ◽  
pp. 124-142
Author(s):  
Tess Wilkinson-Ryan
Keyword(s):  
Social Psychology ◽  
Decision Making ◽  
Law And Economics ◽  
Mental States ◽  
Psychological Research ◽  
Private Law ◽  
Legal Decision ◽  
Psychological Analysis ◽  
Legal Decision Making ◽  
Normative Models

This chapter presents a framework for understanding the most promising contributions of psychological methods and insights for private law. It focuses on two related domains of psychological research: cognitive and social psychology. Cognitive psychology is the study of mental processes, which one might shorthand as “thinking.” Social psychology asks about the role of other people—actual, implied, or imagined—on mental states and human behavior. The chapter is oriented around five core psychological insights: calculation, motivation, emotion, social influence, and moral values. Legal scholarship by turns tries to explain legal decision-making, tries to calibrate incentives, and tries to justify its values and its means. Psychology speaks to these descriptive, prescriptive, and normative models of decision-making. The chapter then argues that psychological analysis of legal decision-making challenges the work that the idea of choice and preference is doing in private law, especially in the wake of the law and economics movement.

scholarly journals The Biography of an Algorithm: Performing algorithmic technologies in organizations

2021 ◽  
Vol 2 (2) ◽  
pp. 263178772110046
Author(s):  
Vern L. Glaser ◽  
Neil Pollock ◽  
Luciana D’Adderio
Keyword(s):  
Decision Making ◽  
Organizational Capabilities ◽  
Negative Consequences ◽  
Organizational Decision Making ◽  
Computational Tools ◽  
Dynamic Perspective ◽  
Over Time

Algorithms are ubiquitous in modern organizations. Typically, researchers have viewed algorithms as self-contained computational tools that either magnify organizational capabilities or generate unintended negative consequences. To overcome this limited understanding of algorithms as stable entities, we propose two moves. The first entails building on a performative perspective to theorize algorithms as entangled, relational, emergent, and nested assemblages that use theories—and the sociomaterial networks they invoke—to automate decisions, enact roles and expertise, and perform calculations. The second move entails building on our dynamic perspective on algorithms to theorize how algorithms evolve as they move across contexts and over time. To this end, we introduce a biographical perspective on algorithms which traces their evolution by focusing on key “biographical moments.” We conclude by discussing how our performativity-inspired biographical perspective on algorithms can help management and organization scholars better understand organizational decision-making, the spread of technologies and their logics, and the dynamics of practices and routines.

Enhancing Regulatory Decision Making for Postmarket Drug Safety

2021 ◽  
Author(s):  
Vishal Ahuja ◽  
Carlos A. Alvarez ◽  
John R. Birge ◽  
Chad Syverson
Keyword(s):  
Decision Making ◽  
Operations Management ◽  
The United States ◽  
Pharmaceutical Products ◽  
Unintended Consequences ◽  
Surveillance Systems ◽  
Veterans Health ◽  
Health Administration ◽  
Regulatory Decision ◽  
Increased Risk

The U.S. Food and Drug Administration (FDA) regulates the approval and safe public use of pharmaceutical products in the United States. The FDA uses postmarket surveillance systems to monitor drugs already on the market; a drug found to be associated with an increased risk of adverse events (ADEs) is subject to a recall or a warning. A flawed postmarket decision-making process can have unintended consequences for patients, create uncertainty among providers and affect their prescribing practices, and subject the FDA to unfavorable public scrutiny. The FDA’s current pharmacovigilance process suffers from several shortcomings (e.g., a high underreporting rate), often resulting in incorrect or untimely decisions. Thus, there is a need for robust, data-driven approaches to support and enhance regulatory decision making in the context of postmarket pharmacovigilance. We propose such an approach that has several appealing features—it employs large, reliable, and relevant longitudinal databases; it uses methods firmly established in literature; and it addresses selection bias and endogeneity concerns. Our approach can be used to both (i) independently validate existing safety concerns relating to a drug, such as those emanating from existing surveillance systems, and (ii) perform a holistic safety assessment by evaluating a drug’s association with other ADEs to which the users may be susceptible. We illustrate the utility of our approach by applying it retrospectively to a highly publicized FDA black box warning (BBW) for rosiglitazone, a diabetes drug. Using comprehensive data from the Veterans Health Administration on more than 320,000 diabetes patients over an eight-year period, we find that the drug was not associated with the two ADEs that led to the BBW, a conclusion that the FDA evidently reached, as it retracted the warning six years after issuing it. We demonstrate the generalizability of our approach by retroactively evaluating two additional warnings, those related to statins and atenolol, which we found to be valid. This paper was accepted by Vishal Gaur, operations management.

scholarly journals Access to information and decision making on teenage pregnancy prevention by females in Tshwane

Curationis ◽  
2015 ◽  
Vol 38 (2) ◽  
Author(s):  
J.P.F. Masemola-Yende ◽  
Sanah M. Mataboge
Keyword(s):  
Decision Making ◽  
Primary Healthcare ◽  
Teenage Pregnancy ◽  
Hormonal Contraception ◽  
Pregnancy Prevention ◽  
Exploratory Research ◽  
Access To Information ◽  
Negative Consequences ◽  
Sources Of Information ◽  
Female Teenagers

Background: The increase in the number of teenage pregnancies and its negative consequences has encouraged various researchers to explore the possible causes of teenage pregnancy. Findings from previously-conducted research have indicated different preventable factors that predispose female teenagers to pregnancy, such as staff attitudes and the lack of information resulting from poor access to health facilities.Objective: To explore and describe access to information and decision making on teenage pregnancy prevention by females using a primary healthcare clinic in Tshwane, South Africa.Method: In this study, the researchers used a descriptive qualitative and exploratory research design to explore and describe the verbal reports regarding prevention of teenage pregnancy by females using a primary healthcare clinic in Tshwane, South Africa. Face-to-face semistructured interviews were conducted with 15 female participants aged between 15 and 26, who had been pregnant once or more during their teens.Results: Two themes emerged, namely, access to information and decision making by female teenagers. Five categories that emerged were: access to information on pregnancy prevention; ignoring of provided information; the use of alternative medicine with hormonal contraception; personal reasons for use and non-use of contraception; and decisions made by teenagers to not fall pregnant. Females in this study fell pregnant in their teens, even though they had access to information.Conclusion: Given the complexity of this problem, female teenagers should use their families as primary sources of information for reproductive health promotion and educational institutions should build on this to aid the prevention of teenage pregnancy.

scholarly journals Outcome contingency selectively affects the neural coding of outcomes but not of tasks

2019 ◽  
Vol 9 (1) ◽  
Author(s):  
David Wisniewski ◽  
Birte Forstmann ◽  
Marcel Brass
Keyword(s):  
Decision Making ◽  
Parietal Cortex ◽  
Neural Coding ◽  
Free Choice ◽  
Pattern Analysis ◽  
Maintenance Phase ◽  
Large Network ◽  
Multivariate Pattern Analysis ◽  
Multivariate Pattern

AbstractValue-based decision-making is ubiquitous in every-day life, and critically depends on the contingency between choices and their outcomes. Only if outcomes are contingent on our choices can we make meaningful value-based decisions. Here, we investigate the effect of outcome contingency on the neural coding of rewards and tasks. Participants performed a reversal-learning paradigm in which reward outcomes were contingent on trial-by-trial choices, and performed a ‘free choice’ paradigm in which rewards were random and not contingent on choices. We hypothesized that contingent outcomes enhance the neural coding of rewards and tasks, which was tested using multivariate pattern analysis of fMRI data. Reward outcomes were encoded in a large network including the striatum, dmPFC and parietal cortex, and these representations were indeed amplified for contingent rewards. Tasks were encoded in the dmPFC at the time of decision-making, and in parietal cortex in a subsequent maintenance phase. We found no evidence for contingency-dependent modulations of task signals, demonstrating highly similar coding across contingency conditions. Our findings suggest selective effects of contingency on reward coding only, and further highlight the role of dmPFC and parietal cortex in value-based decision-making, as these were the only regions strongly involved in both reward and task coding.

scholarly journals Family Poultry (FP) as a Tool for Improving Gender Equity and Women’s Empowerment in Developing Countries: Evidence from Bangladesh

2021 ◽  
Vol 3 (2) ◽  
pp. 37-44
Author(s):  
Soshe Ahmed ◽  
Maksuda Begum ◽  
Afia Khatun ◽  
Md. R Gofur ◽  
Md. TA Azad ◽  
...  
Keyword(s):  
Decision Making ◽  
Developing Countries ◽  
Gender Equity ◽  
Financial Services ◽  
Poultry Production ◽  
Asset Accumulation ◽  
The Family ◽  
Marketing Systems ◽  
Access To Knowledge ◽  
Training Services

The study assessed the integrated gender issues of family poultry production in developing countries with evidence in Bangladesh. The result draws attention to the widespread acknowledgment of the critical roles of gender in family poultry production system. The results show that women hold the maximum of the ownership (90.58%, p=0.0001) and responsible for the caring of (93.94%, p=0.0001) family poultry in Bangladesh, likewise other developing countries. The result reveals that women control over the decision-making for the selling of eggs and birds in Bangladesh. Women mostly (94.58%) hold the knowledge useful in the prevention and treatment of poultry illness; however, their role was found low (3.46%) in buying medicine and vaccines for poultry as compared to men (96.54%) in Bangladesh. The findings show that women were nearly two times more willing than men to adopt improved rearing technologies related to family poultry production. Both women and men are impacted indifferently by lower adoption of scientific poultry-keeping technologies. Women are independently facing more problems in access to knowledge, training, services, marketing systems, and financial services related to family poultry production. Despite having many limitations, it is clear that family poultry empowers women through asset accumulation and increasing their decision-making ability in the families and the broader community. The study also highlights the necessity of considering an engendered approach in policy and operational level for the family poultry development.

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