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Distribution of Health Care Resources in Austria - Inequality Assessment of Different Health Care Resources at Different Points in Time

A major objective of health policy in many countries is to avoid inequality in the distribution of health care resources. Our goal is to provide initial insight into the inequality in the regional distribution of different health care resources per capita and the variation of the inequality over time in Austria to provide starting points for policy recommendations and international comparisons. We also aim to examine whether the type of inequality measure and need-adjustment has an impact on the results. The findings reveal that inequality in the distribution of GPs with contracts with social health insurance is comparably small, but we observe an increase in inequality from 2002 to 2014. In general, there is a clear trend toward private physicians, of whom private specialists preferably open their practices in densely populated areas. Despite considerable reductions in public hospital beds between 2002 and 2014, the distribution across regions remains almost constant. The use of different inequality measures and need-adjustment provides additional insights so that custom-made policies to reduce inequalities can be developed.

Sommersguter-Reichmann, M. und Reichmann, G. (2019): Distribution of Health Care Resources in Austria – Inequality Assessment of Different Health Care Resources at Different Points in Time, in: International Journal of Health Services, pp. 1-13, doi: doi.org/10.1177/0020731419893058 [10.12.2019].

Kontakt: Margit Sommersguter-Reichmann, Institut für Finanzwirtschaft, Tel.: 0316/380 - 3516

Behind Migrant and Non-Migrant Worktime Inequality in Europe: Institutional and Cultural Factors Explaining Differences

Migrants often work longer hours than their non-migrant counterparts. In this article we examine reasons behind this inequality, arguing that institutional working time configurations at the country level impact on worktime inequality. Our cross-country comparative study uses data from the European Labour Force Survey. We focus on France, Sweden, Austria and the UK as archetypal examples of working time configurations and breadwinner models in Europe. Our findings indicate that institutional and cultural factors play a role in working hour differences between migrants and non-migrants. We conclude that more centralized worktime regulation and bargaining foster equality, and we suggest several avenues for future research.

Ortlieb, R. und Winterheller, J. (2020): Behind Migrant and Non‐Migrant Worktime Inequality in Europe: Institutional and Cultural Factors Explaining Differences, in: British Journal of Industrial Relations, pp. 1-31, doi: doi.org/10.1111/bjir.12521 [14.01.2020].

Kontakt: Renate Ortlieb, Institut für Personalpolitik, Tel.: 0316/380 - 7189

Optimal dynamic control of predator-prey models

This paper combines work to use a decision support tool for sustainable economic development, while acknowledging interdependent dynamics of population density, and interferences from outside. We get new insights derived from experimental approaches: analytical models (optimal dynamic control of predator–prey models) provide optimal dynamic strategies and interventions, depending on different objective functions. Our economic experiments are able to test the applicability of these strategies, and in how far decision-makers can learn to improve decision-making by repeated applications. We aim to analyse a sustainable environment with diametrical goals to harvest as much as possible while allowing optimal population growth. We find interesting insights from those who manage the dynamic system. With the methodology of experimental economics, the experiment at hand is developed to analyse the capability of individual persons to handle a complex system, and to find an economic, stable equilibrium in a neutral setting. We have developed a most interesting simulation model, where it will turn out that prices play a less important role than availability of the goods. This aspect could become a new important aspect in economics in general and in sustainable environments especially.

Becker, O. und Leopold-Wildburger, U. (2019): Optimal dynamic control of predator-prey models, in: Central European Journal of Operations Research, doi: doi.org/10.1007/s10100-019-00656-7 [02.11.2019].

Kontakt: Ulrike Leopold-WildburgerInstitut für Statistik und Operations Research, Tel.: 0316/380 - 3492

Future Engineering Lab – Planspielentwicklung in der Fahrzeugindustrie

Digitalisierung und digitale Transformation tangieren nicht nur die technologische (Arbeits-)Umwelt, sondern auch Aspekte wie Prozesse, Organisationsstrukturen, Kompetenzen der Mitarbeitenden und Unternehmenskultur. Gleichzeitig gilt es in Organisationen, die Potenziale der bestehenden Belegschaft zu nutzen und diese im bevorstehenden Kulturwandel zu begleiten. In diesem ebenso komplexen wie aktuellen Themenfeld bewegt sich das Kooperationsprojekt Future Engineering Lab. Im Rahmen dieses Projekts soll in Form eines Planspiels ein Konzept für eine neue Entwicklungsmethodik im Fahrzeugbau unter Laborbedingungen (Future Engineering Lab) für die Mitarbeitenden der beteiligten Organisationen erlebbar werden. Im vorliegenden Beitrag steht der Prozess der Entwicklung dieses Planspiels im Fokus.

Dreisiebner, G., Fachbach, B., Tafner, G., Slepcevic-Zach, P., Stocker, A. und Stock, M. (2019): Future Engineering Lab – Planspielentwicklung in der Fahrzeugindustrie, in: Ostendorf, A., Thoma, M. und Welte, H. (Hrsg.): bwp@Spezial AT-2: Wirtschaftspädagogik in Österreich 2019 – Beiträge zum 13. Österreichischen Wirtschaftspädagogikkongress, 17. Mai 2019, S. 1-17.

Kontakt: Gernot Dreisiebner, Institut für Wirtschaftspädagogik, Tel.: 0316/380 - 3534

Dynamic Status Effects, Savings, and Income Inequality

This article advances the hypothesis that the intensity of status preferences depends negatively on the average wealth of society (endogenous dynamic status effect), in accordance with empirical evidence. Our theory replicates the contradictory historical facts of an increasing saving rate along with declining returns to capital over time. By affecting the dynamics of the saving rate, the dynamic status effect raises inequality, thereby providing a behavioral mechanism for the observed diverse dynamics of income inequality across countries. In countries in which the dynamic status effect is strong (weak), inequality rises (declines) over time in response to a positive productivity shock.

Dioikitopoulos, E. V., Turnovsky, S. J. und Wendner, R. (2020): Dynamic Status Effects, Savings, and Income Inequality, in: International Economic Review, Vol. 61, No. 1, pp. 351-382, doi: doi.org/10.1111/iere.12426.

Kontakt: Ronald Wendner, Institut für Volkswirtschaftslehre, Tel.: 0316/380 - 3458

Public good agreements under the weakest-link technology

We analyze the formation of public good agreements under the weakest‐link technology. Whereas policy coordination is not necessary for symmetric players, it matters for asymmetric players; however, this fails in the absence of transfers. By contrast, with a transfer scheme, asymmetry may be an asset for cooperation. We characterize various types and degrees of asymmetry and relate them to the stability of self‐enforcing agreements. Asymmetric distributions of autarky public good provision levels (also representing asymmetric interests in cooperation) that are positively skewed tend to be conducive to the stability of agreements. We show that under such conditions, even a coalition including all players can be stable. However, asymmetries that foster stability (instability) tend to be associated with low (high) gains from cooperation.

Caparrós, A. und Finus, M. (2020): Public good agreements under the weakest-link technology, in: Journal of Public Economic Theory, pp. 1-28, doi: doi.org/10.1111/jpet.12426 [11.02.2020].

Kontakt: Michael Finus, Institut für Volkswirtschaftslehre, Tel.: 0316/380 - 3450

Does investor risk perception drive asset prices in markets? Experimental evidence

We explore how individual risk perception influences prices and trading behavior in a market setting. Specifically, our study lets experimental participants trade assets characterized by varying shapes of return distributions. While common mean-variance models predict identical prices for most of our assets, we find trading prices to differ significantly. Assets that are perceived as being less risky on average (despite having identical volatility) trade at significantly higher prices. Individually, traders who perceive a certain asset to be less risky are also net buyers on average. With regard to different risk measures, our results show that the probability of a loss is the strongest predictor of transaction prices and risk perception. All these results hold also for experienced traders and when traders can trade two assets at the same time.

Huber, J., Palan, S. und Zeisberger, S. (2019): Does investor risk perception drive asset prices in markets? Experimental evidence, in: Journal of Banking and Finance, Vol. 108, pp. 1-17, doi: doi.org/10.1016/j.jbankfin.2019.105635.

Kontakt: Stefan Palan, Institut für Banken und Finanzierung, Tel.: 0316/380 - 7306

Industry and leadership experiences of the heads of departments and their impact on the performance of public universities

Purpose: The purpose of this paper is to identify whether the prior industry experience (IE) or industry leadership experience (ILE) of the head might influence the department’s publication output, the ability to acquire external research funds or its entrepreneurial activities (e.g. the commercialization of research results through patents).
Design/methodology/approach: The study is based on data from 208 Austrian university departments and combines data from different sources (CVs of the heads of departments, commercial register, funding data and publication data).
Findings: The results show a positive relationship between ILE and the patent output of the departments as one indicator for the commercialization of research activities. Low positive effects of IE on the extent of third-party funding were also found. Furthermore, the scientific experience of the head of department has a positive influence on the publication output of the whole department.
Practical implications: The findings suggest that the scientific ability of researchers should be key when selecting the head of a department, due to the fact that scientific performance is still essential for most of these units. However, when universities seek to focus more strongly on other, for example, entrepreneurial activities, then additional competencies come into play. As the actual focus of universities is currently subject to change, former IE and ILE will become increasingly more important and the heads of departments will play a decisive role in the transition toward becoming an entrepreneurial university. Therefore, universities are well advised to integrate these experiences in the job specifications and to establish processes that facilitate the change from an industrial to a university job or which allow “double lives” in university and industry.
Originality/value: Previous studies have mostly investigated the role of the scientific experience of academic leaders in the research performance of their institution in later decades. This study examines the actual relevance of previous entrepreneurial experiences of heads of departments to the departments’ research performance, the ability to acquire external research funds or their entrepreneurial activities.

Rybnicek, R., Leitner, K.-H., Baumgartner, L. und Plakolm, J. (2019): Industry and leadership experiences of the heads of departments and their impact on the performance of public universities, in: Management Decision, Vol. 57, No. 12, pp. 3321-3345, doi: doi.org/10.1108/MD-10-2018-1173.

Kontakt: Robert Rybnicek, Institut für Unternehmensführung und Entrepreneurship, Tel.: 0316/380 - 7355

Post-Yugoslav Feminist Activism in the 21st Century

The development of an explicitly feminist positioning already in the 1970s and the existence of initiatives alternative to the agenda of the state women’s organizations is what distinguishes the former Yugoslavia from other countries of the former Eastern bloc with respect to women’s activism. Feminist activism received a powerful impetus in the 1990s from the violent transition of the successor countries of federal Yugoslavia. The political, economic and cultural upheavals of this period were reflected by the feminist theory and activism produced in the 1990s. By contrast, the period since 2000 has received far less research attention with few exceptions. Studies of feminist politics of the generation that came of political age after 2000 (“millennials”) are needed as political, economic and social conditions differ dramatically in comparison to socialist and transitional periods. The special issue “Post-Yugoslav Feminist Activism in the 21st Century” focuses on the variety of feminist activism since 2000 in the post-Yugoslav territory. By feminist activism, we mean individual and group actors that use disruptive and conventional tactics to contest gender-based arrangements of domination and subordination in society. The articles presented here address two large problem areas that sometimes overlap within one article: generations and legacies on the one hand (Sutlović, Bias, Siročić), and activism toward gender justice on the other (Kersten-Pejanić, Spasovska and Kotevska, Pollozhani and Trevisani).

Oates-Indruchová, L. und Siročić, Z. (Hrsg.) (2019): Post-Yugoslav Feminist Activism in the 21st Century, Special Section of Women’s Studies International Forum 77, Elsevier, Amsterdam.

Kontakt: Libora Oates-IndruchováInstitut für Soziologie, Tel.: 0316/380 - 7086

Evaluative voting or classical voting rules: Does it make a difference? Empirical evidence for consensus among voting rules

We provide empirical evidence for Tullock’s claim that many of the problems known from social choice literature do not show up in practice. In particular, even though theoretically the use of different voting rules can lead to very different outcomes, there appears to be rather high consensus among voting rules when applied to real-world preference data. In addition, the famous and widely studied problem of majority cycles seems to be of little significance in practice. In this study, based on data collected in an online-survey in connection with the 2015 parliament election in the Austrian federal state of Styria, we confirm these findings to a high degree. Our analysis is based on an approach using a nonparametric bootstrap and includes various forms of evaluative voting (which has recently received increasing attention).

Darmann, A., Grundner, J. und Klamler, C. (2019): Evaluative voting or classical voting rules: Does it make a difference? Empirical evidence for consensus among voting rules, in: European Journal of Political Economy, Vol. 59, pp. 345-353, doi: doi.org/10.1016/j.ejpoleco.2019.04.003.

Kontakt: Christian Klamler, Institut für Finanzwissenschaft und Öffentliche Wirtschaft, Tel.: 0316/380 - 3465

Model and Moment Selection in Factor Copula Models

This article develops a simultaneous model and moment selection procedure for factor copula models. Since the density of the factor copula is generally not known in closed form, widely used likelihood or moment-based model selection criteria cannot be directly applied on factor copulas. The new approach is inspired by the methods for generalized methods of moments proposed by Andrews (1999) and Andrews and Lu (2001). The consistency of the procedure is proved and Monte Carlo simulations show its good performance in finite samples in different scenarios of sample sizes and dimensions. The impact of the choice of moments in selected regions of the support on model selection and value-at-risk prediction is further examined by simulation and an application to a portfolio consisting of ten stocks in the Deutscher Aktienindex (DAX30) index.

Duan, F., Manner, H. und Wied, D. (2019): Model and Moment Selection in Factor Copula Models, in: Journal of Financial Econometrics, pp. 1-31, doi: doi.org/10.1093/jjfinec/nbz039 [24.12.2019].

Kontakt: Hans Manner, Institut für Volkswirtschaftslehre, Tel.: 0316/380 - 3446

Conditional Variance Forecasts for Long-Term Stock Returns

In this paper, we apply machine learning to forecast the conditional variance of long-term stock returns measured in excess of different benchmarks, considering the short- and long-term interest rate, the earnings-by-price ratio, and the inflation rate. In particular, we apply in a two-step procedure a fully nonparametric local-linear smoother and choose the set of covariates as well as the smoothing parameters via cross-validation. We find that volatility forecastability is much less important at longer horizons regardless of the chosen model and that the homoscedastic historical average of the squared return prediction errors gives an adequate approximation of the unobserved realised conditional variance for both the one-year and five-year horizon.

Mammen, E., Perch Nielsen, J., Scholz, M. und Sperlich, S. (2019): Conditional Variance Forecasts for Long-Term Stock Returns, in: Risks, Vol. 7, No. 4, pp. 1-22, doi: https://doi.org/10.3390/risks7040113.

Kontakt: Michael Scholz, Institut für Volkswirtschaftslehre, Tel.: 0316/380 - 7112



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