Stockholm School of Economics

About: Stockholm School of Economics is a education organization based out in Stockholm, Sweden. It is known for research contribution in the topics: Population & Entrepreneurship. The organization has 1186 authors who have published 4891 publications receiving 285543 citations. The organization is also known as: Stockholm Business School & Handelshögskolan i Stockholm.

Optimal Fines in the Era of Whistleblowers. Should Price Fixers still Go to Prison

Abstract: We review current methods for calculating fines against cartels in the US and EU, and simulate their deterrence effects under different assumptions on the legal and economic environment. It is likely that European fines have not had significant deterrence effects before leniency programs were introduced. Previous simulations of the effects of fines ignore the different type of deterrence that leniency programs bring about, and, therefore, grossly overstate the minimum fine likely to have deterrence effects. With schemes that reward whistleblowers, the minimum fine with deterrence effects falls to extremely low levels (below 10% of the optimal “Beckerian” fine). Strategic judgment-proofness can and should be prevented by suitable regulation or extended liability. Criminal sanctions, in the form of imprisonment, certainly bring benefits (and costs) in terms of cartel deterrence, but the firms' limited ability to pay does not appear any longer such a strong argument for their introduction.

Cost-effectiveness of raloxifene in the UK: an economic evaluation based on the MORE study.

Abstract: Raloxifene treatment has been shown to reduce the risk of vertebral fractures and breast cancer in postmenopausal women The long-term economic implications of treatment with raloxifene have not yet been investigated The aim of this study was to assess the cost-effectiveness of treating postmenopausal women in the UK with raloxifene A previously developed computer simulation model was used to estimate the cost-effectiveness of osteoporotic treatments with extra skeletal benefits The model was populated with epidemiological data and cost data relevant for a UK female population Data on the effect of treatment were taken from the Multiple Outcomes of Raloxifene (MORE) study, which recruited women with low bone mineral density or with a prior vertebral fracture Cost-effectiveness was estimated using Quality Adjusted Life Years (QALYs) and life years gained as primary outcome measures The cost per QALY gained of treating postmenopausal women without prior vertebral fractures was £18,000, £23,000, £18,000 and £21,000 at 50, 60, 70 and 80 years of age Corresponding estimates for women with prior vertebral fractures were £10,000, £24,000, £18,000 and £20,000 In relation to threshold values that are recommended in the UK, the analysis suggests that raloxifene is cost-effective in the treatment of postmenopausal women at an increased risk of vertebral fractures

Eliciting Willingness to Pay without Bias using Follow-up Certainty Statements: Comparisons between Probably/Definitely and a 10-point Certainty Scale

Abstract: Correction for hypothetical bias using follow up certainty questions often takes one of two forms: (1) two options, “definitely sure” and “probably sure”, or (2) a 10-point scale with 10 very certain. While both have been successful in eliminating hypothetical bias from estimates of WTP by calibrating based on the certainty of yes responses, little is known about the relationship between the two. The purpose of this paper is to compare the two using data from three field experiments in a private good, dichotomous choice format. We compare four types of yes responses that differ in the criterion used to determine if there is sufficient certainty for a hypothetical yes response to be considered a true yes response. We make several comparisons, but focus on determining which values on the 10-point scale give the same estimates of WTP as “definitely sure” hypothetical yeses and real yeses (actual purchases). Values that produce equivalence are near 10 on the certainty scale.

Careers in Foreign-Owned Firms in Japan:

Abstract: This article examines how organizational environments affect labor market processes in Japan. I hypothesize that labor market inequality is generated through workers being “positioned” in either domestic or in foreign firms. I apply the concept of social versus economic exchange to distinguish the nature of transactions between domestic and foreign firms. I argue that foreign firms operate under an institutional context that is conducive to the economic mode of exchange, which has enormous consequences for their personnel practices and reward systems. Using a dataset of Japanese workers collected in 2000, I examine the extent to which employment practices in foreign firms deviate from the benchmark features observed in the Japanese labor market. My results confirm that employment in foreign firms significantly affects career outcomes. The highcommitment culture commonly associated with the Japanese workforce is an outcome of the organizational environment. I find little evidence of Japanese employment pra...