Three essays in Swiss corporate governance

This dissertation is a combination of three relatively independent chapters on the subject of corporate governance. Corporate governance is presently at the epicenter of the global financial crisis. The lack of regulation and the misalignment of objectives have greatly contributed to the major crisis we are now in. Most governance research has been conducted in the United States in a context of widely held corporations and great executive power. It does not reflect the variety of situations around the world and we question the validity of this model in other contexts. The aim of this dissertation is to look at other governance models, in particular the Swiss corporate governance not only from a practical point of view, but also from a multi-theoretical approach. Traditional corporate governance literature has focused on the Anglo-American model that mainly follows the agency theory (Jensen and Meckling, 1976) in a shareholder-manager context, and overlooked other approaches. We focus on three different aspects of corporate governance using three different theories. First, we look at the ownership type of various corporations, using the agency theory in a context where issues between shareholders predominate over the typical shareholder-manager relationship. Second, we explore the adoption process of several governance mechanisms that, due to changes in legislation, has taken place in Switzerland since 2002. We use the institutional theory (DiMaggio and Powell, 1983), in a context where the environmental pressures are particularly high. Finally, we spotlight the board of directors as a key element of the governance of publicly listed corporations. Particularly, we focus on the independence of the board of directors, using a combination of the agency and resource dependence theories (Pfeffer, 1972; Pfeffer and Salancik, 1978).

Der Erfolg der Spiritualität. Gesellschaftsentwicklung und Transzendenzerfahrung am Beispiel der Schweiz

(Résumé de l'ouvrage) Viele Menschen sind heute auf der Suche nach Sinn und Orientierung in einer Gesellschaft, die geprägt ist von Säkularisierung und Individualisierung. Die kirchlichen Glaubenssysteme scheinen ihre bindende Kraft verloren zu haben. Sie werden zunehmend von individuellen Wegen und kleinen Weggemeinschaften abgelöst. Der vorliegende Sammelband reflektiert diesen Wandel aus den Blickwinkeln der Wissenschaft und der spirituellen Praxis. Spiritualität und Wissenschaft sind zwei unterschiedliche Ansätze, die Welt zu erfahren und zu erklären. Die gegenseitige Skepsis macht jedoch den Dialog schwierig. Das Projekt "Spiritualität und Wissenschaft" hat Sachverständige beider Bereiche zum Gespräch zusammengeführt: In ihren Beiträgen wagen Manager, Soziologen, Theologinnen, Philosophen, Mediziner, Mönche und spirituelle Lehrerinnen Definitionen und berichten über ihre Untersuchungen und Erfahrungen. Indem sie die Beziehungen zwischen Spiritualität und Religion, Medizin, Wirtschaft und Wissenschaft ausleuchten, skizzieren sie ein differenziertes Bild der beiden Wirklichkeitsbeschreibungen und ihres Wechselspiels bei der Erfassung der "Realität". Der Band beruht auf einer gleichnamigen Veranstaltungsreihe des Forums für Universität und Gesellschaft der Universität Bern. Er wird ergänzt durch eine CD mit einer Sendung von Radio "chrüz u quer" zu den projektbegleitenden Workshops über spirituelle Wege.

ePortfolio Unil: un projet pilote en sciences du langage

Le projet pilote e-Portfolio offre aux étudiant-e-s la possibilité de créer un dossier portfolio personnalisé et disponible en ligne sur une plateforme informatique. Les dossiers portfolio se partagent en deux familles : les dossiers d'apprentissage (a.), permettant de documenter un cheminement d'apprentissage, et les dossiers de présentation(b.), ayant pour rôle de valoriser les acquis d'une formation ou d'un parcours professionnel. Un e-Portfolio, par la plasticité des outils informatiques qui en forment le support, permet de combiner les deux approches - pédagogique et biographique - en intégrant sur un mode dynamique le parcours de formation, le questionnement des acquis et la présentation curriculaire. (http://www3.unil.ch/wpmu/riset-notice/2010/09/)

Une approche causale des comportements d'achat et post-achat de produits écolabellisés

RESUMÉ Objectifs de la recherche: Depuis quelques années, l'utilisation de l'écologie dans le marketing a connu un essor considérable, aussi bien dans le monde académique que dans la pratique. De nos jours, la notion de label suscite un vif intérêt auprès des entreprises désireuses de promouvoir des produits "verts". Le principe de l'écolabellisation consiste à fournir aux consommateurs, en plus du prix, un nouvel élément de comparaison des produits. Les écolabels sont considérés comme l'un des meilleurs outils pour informer le consommateur, d'une manière claire et compréhensible, de l'impact du produit sur l'environnement. Nous nous intéressons, dans le cadre de notre travail, à l'étude du comportement d'achat des produits écolabellisés. En dépit de leur popularité croissante, les études académiques portant sur les labels écologiques sont relativement rares et de nombreuses problématiques demeurent en suspens. L'étude du comportement d'achat - au sens large - mérite notamment d'être approfondie. Notre recherche a plusieurs volets. Premièrement, nous étudions l'impact des valeurs, de l'implication vis-à-vis de l'écologie, du scepticisme, de la compréhension du label et de la connaissance de l'écologie sur le comportement d'achat de produits écolabellisés. Ensuite, nous testons la cohérence entre comportements écologiques en introduisant un comportement post- achat (le triage des déchets ménagers). Théories sous-jacentes: Notre étude repose sur différents apports académiques relatifs au comportement du consommateur "vert" mais également sur des concepts issus de la psychologie et de la sociologie. Nous présentons d'abord la littérature portant sur la caractérisation du consommateur "vert" (Webster, 1975; Arbuthnot, 1977; Van Liere et Dunlap, 1981; Balderjahn, 1988; Antil, 1984; Grunert et Juhl, 1995; Roberts, 1996). Nous abordons ensuite les études portant sur les valeurs (Schwartz, 1992; 1994), l'implication (Zaichkowsy, 1994), le scepticisme (Gray-Lee, Scammon et Mayer, 1994; Mohr et al., 1998), la compréhension des écolabels (van Dam et Reuvekamp, 1995; Thogersen, 2000) et la connaissance de l'écologie (Maloney et al., 1973, 1975; Arbuthnot, 1977; Pickett et al., 1993). Ces variables nous semblent être les plus à même d'influencer le comportement d'achat de produits écolabellisés. Enfin, sur la base des travaux de Valette-Florence et Roehrich (1993), nous développons un modèle de causalité, centré sur la relation entre les valeurs, l'implication et le comportement. Hypothèses de recherche et opérationnalisation des variables: Nous développons 16 hypothèses de recherche dont 12 portent sur les rapports de causalité entre construits. Par ailleurs, pour mieux comprendre la personnalité du consommateur de produits écolabellisés, nous distinguons les variables reflétant un intérêt collectif (altruisme) de celles reflétant un intérêt individuel (égocentrisme). La mesure des différents construits reposent sur la liste de Schwartz (1992, 1994) pour les valeurs, l'échelle d'implication de Zaichkowsy (1994) pour la publicité, l'échelle développée par Mohs et al. (1998) pour mesurer le scepticisme et une liste de questions portant sur l'écologie (Diekmann, 1996) pour tester le niveau de connaissance. Les comportements d'achat et post-achat sont mesurés respectivement à l'aide de questions relatives à la fréquence d'achat de produits écolabellisés et du triage des déchets ménagers. Collecte des données: Le recueil des données s'effectue par sondage, en ayant recours à des questionnaires auto-administrés. L'échantillon comprend de 368 étudiants provenant de diverses facultés de sciences humaines de Suisse Romande. Analyse des données et interprétation des résultats: Notre étude porte sur le comportement d'achat de trois labels écologiques et sur le triage de 7 déchets ménagers. Les différentes analyses montrent que certaines valeurs ont un impact sur l'implication et que l'implication a une influence positive sur le comportement d'achat et post-achat. Par ailleurs, nous montrons que l'implication sert de variable médiatrice entre les valeurs et le comportement. De plus, la compréhension de l'écolabel influence de manière positive l'achat de produits écolabellisés, la connaissance de l'écologie a une influence positive sur le comportement post-achat et le scepticisme vis-à-vis de l'utilité du triage des déchets ménagers influence négativement le comportement de triage. Implications managériales: Les résultats obtenus suggèrent qu'outre la valeur "protection de l'environnement", d'autres valeurs comme "la stimulation" ou encore "l'accomplissement" influencent de manière significative l'implication vis-à-vis de l'écologie qui à son tour influence l'achat de produits écolabellisés. Le manager doit donc tenir compte du fait que le consommateur est impliqué dans l'écologie. Ensuite, la compréhension du label joue un rôle prépondérant dans l'achat. De plus, le consommateur ne semble pas être sceptique par rapport aux informations fournies par les écolabels et le niveau de connaissance de l'écologie n'affecte pas son comportement. Enfin, le consommateur semble agir de manière cohérente en achetant différents produits écolabellisés. Apports, limites et voies de recherche: Notre étude contribue à l'enrichissement de la recherche sur le comportement du consommateur dans un contexte écologique à plusieurs égards, notamment par l'étude de la relation entre les valeurs, l'implication et le comportement. Néanmoins, la portée de notre recherche est naturellement restreinte en raison du nombre limité de cas étudiés, soit 3 labels écologiques relativement peu connus de notre échantillon. Il serait utile de répéter l'étude en utilisant des labels plus populaires. Par ailleurs, nous avons eu recours à des échelles développées dans des contextes quelque peu différents. En particulier, une échelle d'implication devrait être développée spécifiquement pour le contexte écologique.

Financial Markets and Real Ecinomy: Four Essays in International Trade

Financial markets play an important role in an economy performing various functions like mobilizing and pooling savings, producing information about investment opportunities, screening and monitoring investments, implementation of corporate governance, diversification and management of risk. These functions influence saving rates, investment decisions, technological innovation and, therefore, have important implications for welfare. In my PhD dissertation I examine the interplay of financial and product markets by looking at different channels through which financial markets may influence an economy.My dissertation consists of four chapters. The first chapter is a co-authored work with Martin Strieborny, a PhD student from the University of Lausanne. The second chapter is a co-authored work with Melise Jaud, a PhD student from the Paris School of Economics. The third chapter is co-authored with both Melise Jaud and Martin Strieborny. The last chapter of my PhD dissertation is a single author paper.Chapter 1 of my PhD thesis analyzes the effect of financial development on growth of contract intensive industries. These industries intensively use intermediate inputs that neither can be sold on organized exchange, nor are reference-priced (Levchenko, 2007; Nunn, 2007). A typical example of a contract intensive industry would be an industry where an upstream supplier has to make investments in order to customize a product for needs of a downstream buyer. After the investment is made and the product is adjusted, the buyer may refuse to meet a commitment and trigger ex post renegotiation. Since the product is customized to the buyer's needs, the supplier cannot sell the product to a different buyer at the original price. This is referred in the literature as the holdup problem. As a consequence, the individually rational suppliers will underinvest into relationship-specific assets, hurting the downstream firms with negative consequences for aggregate growth. The standard way to mitigate the hold up problem is to write a binding contract and to rely on the legal enforcement by the state. However, even the most effective contract enforcement might fail to protect the supplier in tough times when the buyer lacks a reliable source of external financing. This suggests the potential role of financial intermediaries, banks in particular, in mitigating the incomplete contract problem. First, financial products like letters of credit and letters of guarantee can substantially decrease a risk and transaction costs of parties. Second, a bank loan can serve as a signal about a buyer's true financial situation, an upstream firm will be more willing undertake relationship-specific investment knowing that the business partner is creditworthy and will abstain from myopic behavior (Fama, 1985; von Thadden, 1995). Therefore, a well-developed financial (especially banking) system should disproportionately benefit contract intensive industries.The empirical test confirms this hypothesis. Indeed, contract intensive industries seem to grow faster in countries with a well developed financial system. Furthermore, this effect comes from a more developed banking sector rather than from a deeper stock market. These results are reaffirmed examining the effect of US bank deregulation on the growth of contract intensive industries in different states. Beyond an overall pro-growth effect, the bank deregulation seems to disproportionately benefit the industries requiring relationship-specific investments from their suppliers.Chapter 2 of my PhD focuses on the role of the financial sector in promoting exports of developing countries. In particular, it investigates how credit constraints affect the ability of firms operating in agri-food sectors of developing countries to keep exporting to foreign markets.Trade in high-value agri-food products from developing countries has expanded enormously over the last two decades offering opportunities for development. However, trade in agri-food is governed by a growing array of standards. Sanitary and Phytosanitary standards (SPS) and technical regulations impose additional sunk, fixed and operating costs along the firms' export life. Such costs may be detrimental to firms' survival, "pricing out" producers that cannot comply. The existence of these costs suggests a potential role of credit constraints in shaping the duration of trade relationships on foreign markets. A well-developed financial system provides the funds to exporters necessary to adjust production processes in order to meet quality and quantity requirements in foreign markets and to maintain long-standing trade relationships. The products with higher needs for financing should benefit the most from a well functioning financial system. This differential effect calls for a difference-in-difference approach initially proposed by Rajan and Zingales (1998). As a proxy for demand for financing of agri-food products, the sanitary risk index developed by Jaud et al. (2009) is used. The empirical literature on standards and norms show high costs of compliance, both variable and fixed, for high-value food products (Garcia-Martinez and Poole, 2004; Maskus et al., 2005). The sanitary risk index reflects the propensity of products to fail health and safety controls on the European Union (EU) market. Given the high costs of compliance, the sanitary risk index captures the demand for external financing to comply with such regulations.The prediction is empirically tested examining the export survival of different agri-food products from firms operating in Ghana, Mali, Malawi, Senegal and Tanzania. The results suggest that agri-food products that require more financing to keep up with food safety regulation of the destination market, indeed sustain longer in foreign market, when they are exported from countries with better developed financial markets.Chapter 3 analyzes the link between financial markets and efficiency of resource allocation in an economy. Producing and exporting products inconsistent with a country's factor endowments constitutes a serious misallocation of funds, which undermines competitiveness of the economy and inhibits its long term growth. In this chapter, inefficient exporting patterns are analyzed through the lens of the agency theories from the corporate finance literature. Managers may pursue projects with negative net present values because their perquisites or even their job might depend on them. Exporting activities are particularly prone to this problem. Business related to foreign markets involves both high levels of additional spending and strong incentives for managers to overinvest. Rational managers might have incentives to push for exports that use country's scarce factors which is suboptimal from a social point of view. Export subsidies might further skew the incentives towards inefficient exporting. Management can divert the export subsidies into investments promoting inefficient exporting.Corporate finance literature stresses the disciplining role of outside debt in counteracting the internal pressures to divert such "free cash flow" into unprofitable investments. Managers can lose both their reputation and the control of "their" firm if the unpaid external debt triggers a bankruptcy procedure. The threat of possible failure to satisfy debt service payments pushes the managers toward an efficient use of available resources (Jensen, 1986; Stulz, 1990; Hart and Moore, 1995). The main sources of debt financing in the most countries are banks. The disciplining role of banks might be especially important in the countries suffering from insufficient judicial quality. Banks, in pursuing their rights, rely on comparatively simple legal interventions that can be implemented even by mediocre courts. In addition to their disciplining role, banks can promote efficient exporting patterns in a more direct way by relaxing credit constraints of producers, through screening, identifying and investing in the most profitable investment projects. Therefore, a well-developed domestic financial system, and particular banking system, would help to push a country's exports towards products congruent with its comparative advantage.This prediction is tested looking at the survival of different product categories exported to US market. Products are identified according to the Euclidian distance between their revealed factor intensity and the country's factor endowments. The results suggest that products suffering from a comparative disadvantage (labour-intensive products from capital-abundant countries) survive less on the competitive US market. This pattern is stronger if the exporting country has a well-developed banking system. Thus, a strong banking sector promotes exports consistent with a country comparative advantage.Chapter 4 of my PhD thesis further examines the role of financial markets in fostering efficient resource allocation in an economy. In particular, the allocative efficiency hypothesis is investigated in the context of equity market liberalization.Many empirical studies document a positive and significant effect of financial liberalization on growth (Levchenko et al. 2009; Quinn and Toyoda 2009; Bekaert et al., 2005). However, the decrease in the cost of capital and the associated growth in investment appears rather modest in comparison to the large GDP growth effect (Bekaert and Harvey, 2005; Henry, 2000, 2003). Therefore, financial liberalization may have a positive impact on growth through its effect on the allocation of funds across firms and sectors.Free access to international capital markets allows the largest and most profitable domestic firms to borrow funds in foreign markets (Rajan and Zingales, 2003). As domestic banks loose some of their best clients, they reoptimize their lending practices seeking new clients among small and younger industrial firms. These firms are likely to be more risky than large and established companies. Screening of customers becomes prevalent as the return to screening rises. Banks, ceteris paribus, tend to focus on firms operating in comparative-advantage sectors because they are better risks. Firms in comparative-disadvantage sectors finding it harder to finance their entry into or survival in export markets either exit or refrain from entering export markets. On aggregate, one should therefore expect to see less entry, more exit, and shorter survival on export markets in those sectors after financial liberalization.The paper investigates the effect of financial liberalization on a country's export pattern by comparing the dynamics of entry and exit of different products in a country export portfolio before and after financial liberalization.The results suggest that products that lie far from the country's comparative advantage set tend to disappear relatively faster from the country's export portfolio following the liberalization of financial markets. In other words, financial liberalization tends to rebalance the composition of a country's export portfolio towards the products that intensively use the economy's abundant factors.

Health and (other) Asset Holdings

The empirical literature on the asset allocation and medical expenditures of U.S. households consistently shows that risky portfolio shares are increasing in both wealth and health whereas health investment shares are decreasing in these same variables. Despite this evidence, most of the existing models treat financial and health-related choices separately. This paper bridges this gap by proposing a tractable framework for the joint determination of optimal consumption, portfolio and health investments. We solve for the optimal rules in closed form and show that the model can theoretically reproduce the empirical facts. Capitalizing on this closed-form solution, we perform a structural estimation of the model on HRS data. Our parameter estimates are reasonable and confirm the relevance of all the main characteristics of the model.

iLOGP: A Simple, Robust, and Efficient Description of n-Octanol/Water Partition Coefficient for Drug Design Using the GB/SA Approach.

The n-octanol/water partition coefficient (log Po/w) is a key physicochemical parameter for drug discovery, design, and development. Here, we present a physics-based approach that shows a strong linear correlation between the computed solvation free energy in implicit solvents and the experimental log Po/w on a cleansed data set of more than 17,500 molecules. After internal validation by five-fold cross-validation and data randomization, the predictive power of the most interesting multiple linear model, based on two GB/SA parameters solely, was tested on two different external sets of molecules. On the Martel druglike test set, the predictive power of the best model (N = 706, r = 0.64, MAE = 1.18, and RMSE = 1.40) is similar to six well-established empirical methods. On the 17-drug test set, our model outperformed all compared empirical methodologies (N = 17, r = 0.94, MAE = 0.38, and RMSE = 0.52). The physical basis of our original GB/SA approach together with its predictive capacity, computational efficiency (1 to 2 s per molecule), and tridimensional molecular graphics capability lay the foundations for a promising predictor, the implicit log P method (iLOGP), to complement the portfolio of drug design tools developed and provided by the SIB Swiss Institute of Bioinformatics.

Monitoring natural hazards

Few subjects have caught the attention of the entire world as much as those dealing with natural hazards. The first decade of this new millennium provides a litany of tragic examples of various hazards that turned into disasters affecting millions of individuals around the globe. The human losses (some 225,000 people) associated with the 2004 Indian Ocean earthquake and tsunami, the economic costs (approximately 200 billion USD) of the 2011 Tohoku Japan earthquake, tsunami and reactor event, and the collective social impacts of human tragedies experienced during Hurricane Katrina in 2005 all provide repetitive reminders that we humans are temporary guests occupying a very active and angry planet. Any examples may have been cited here to stress the point that natural events on Earth may, and often do, lead to disasters and catastrophes when humans place themselves into situations of high risk. Few subjects share the true interdisciplinary dependency that characterizes the field of natural hazards. From geology and geophysics to engineering and emergency response to social psychology and economics, the study of natural hazards draws input from an impressive suite of unique and previously independent specializations. Natural hazards provide a common platform to reduce disciplinary boundaries and facilitate a beneficial synergy in the provision of timely and useful information and action on this critical subject matter. As social norms change regarding the concept of acceptable risk and human migration leads to an explosion in the number of megacities, coastal over-crowding and unmanaged habitation in precarious environments such as mountainous slopes, the vulnerability of people and their susceptibility to natural hazards increases dramatically. Coupled with the concerns of changing climates, escalating recovery costs, a growing divergence between more developed and less developed countries, the subject of natural hazards remains on the forefront of issues that affect all people, nations, and environments all the time.This treatise provides a compendium of critical, timely and very detailed information and essential facts regarding the basic attributes of natural hazards and concomitant disasters. The Encyclopedia of Natural Hazards effectively captures and integrates contributions from an international portfolio of almost 300 specialists whose range of expertise addresses over 330 topics pertinent to the field of natural hazards. Disciplinary barriers are overcome in this comprehensive treatment of the subject matter. Clear illustrations and numerous color images enhance the primary aim to communicate and educate. The inclusion of a series of unique ?classic case study? events interspersed throughout the volume provides tangible examples linking concepts, issues, outcomes and solutions. These case studies illustrate different but notable recent, historic and prehistoric events that have shaped the world as we now know it. They provide excellent focal points linking the remaining terms in the volume to the primary field of study. This Encyclopedia of Natural Hazards will remain a standard reference of choice for many years.

Essays in general equilibrium asset pricing

ABSTRACT : Research in empirical asset pricing has pointed out several anomalies both in the cross section and time series of asset prices, as well as in investors' portfolio choice. This dissertation aims to discover the forces driving some of these "puzzling" asset pricing dynamics and portfolio decisions observed in the financial market. Through the dissertation I construct and study dynamic general equilibrium models of heterogeneous investors in the presence of frictions and evaluate quantitatively their implications for financial-market asset prices and portfolio choice. I also explore the potential roots of puzzles in international finance. Chapter 1 shows that, by introducing jointly endogenous no-default type of borrowing constraints and heterogeneous beliefs in a dynamic general-equilibrium economy, many empirical features of stock return volatility can be reproduced. While most of the research on stock return volatility is empirical, this paper provides a theoretical framework that is able to reproduce simultaneously the cross section and time series stylized facts concerning stock returns and their volatility. In contrast to the existing theoretical literature related to stock return volatility, I don't impose persistence or regimes in any of the exogenous state variables or in preferences. Volatility clustering, asymmetry in the stock return-volatility relationship, and pricing of multi-factor volatility components in the cross section all arise endogenously as a consequence of the feedback between the binding of no-default constraints and heterogeneous beliefs. Chapters 2 and 3 explore the implications of differences of opinion across investors in different countries for international asset pricing anomalies. Chapter 2 demonstrates that several international finance "puzzles" can be reproduced by a single risk factor which captures heterogeneous beliefs across international investors. These puzzles include: (i) home equity preference; (ii) the dependence of firm returns on local and foreign factors; (iii) the co-movement of returns and international capital flows; and (iv) abnormal returns around foreign firm cross-listing events in the local market. These are reproduced in a setup with symmetric information and in a perfectly integrated world with multiple countries and independent processes producing the same good. Chapter 3 shows that by extending this framework to multiple goods and correlated production processes; the "forward premium puzzle" arises naturally as a compensation for the heterogeneous expectations about the depreciation of the exchange rate held by international investors. Chapters 2 and 3 propose differences of opinion across international investors as the potential resolution of several international finance `puzzles'. In a globalized world where both capital and information flow freely across countries, this explanation seems more appealing than existing asymmetric information or segmented markets theories aiming to explain international finance puzzles.

Veille bibliographique sur la surveillance biologique de l'exposition aux produits chimiques en milieu de travail : mise en place d'un réseau francophone multidisciplinaire

L'article présente les étapes de la mise en place d'une veille bibliographique (ou veille scientifique) thématique effectuée conjointement depuis 2005 par 4 institutions francophones du domaine de la santé au travail : l'INRS (France), l'IRSST (Québec), l'IST (Suisse) et l'UCL (Belgique).La thématique suivie est celle de la surveillance biologique de l'exposition aux produits chimiques en milieu de travail. Les données recueillies et mises en forme par les documentalistes servent aux chercheurs spécialistes du sujet non seulement pour suivre les nouveautés du domaine, mais aussi pour documenter des cours et mettre à jour des guides de surveillance biologique. Les différentes étapes de l'approche méthodologique du projet sont décrites : le choix des bases de données à interroger et la mise au point de la stratégie de recherche, la mise en place d'une procédure de partage des tâches pour toutes les étapes du processus de veille qui se répètent à chaque mise à jour (interrogation, création de bases de données avec le logiciel Reference Manager, mise en forme et indexation des références, création et mise à disposition des partenaires des bases de données consolidées au fil du temps avec tous les articles analysés), les moyens administratifs, humains et techniques d'échange de fichiers et les essais pour élargir la veille à la surveillance de pages Web sélectionnées.Un bilan chiffré des six années de la veille est également donné.L'information récoltée et analysée durant les deux dernières années par les partenaires du projet fera l'objet d'un second article axé sur les principales tendances de la thématique choisie.

Prediction markets supporting technology assessment

In this thesis, we study the use of prediction markets for technology assessment. We particularly focus on their ability to assess complex issues, the design constraints required for such applications and their efficacy compared to traditional techniques. To achieve this, we followed a design science research paradigm, iteratively developing, instantiating, evaluating and refining the design of our artifacts. This allowed us to make multiple contributions, both practical and theoretical. We first showed that prediction markets are adequate for properly assessing complex issues. We also developed a typology of design factors and design propositions for using these markets in a technology assessment context. Then, we showed that they are able to solve some issues related to the R&D portfolio management process and we proposed a roadmap for their implementation. Finally, by comparing the instantiation and the results of a multi-criteria decision method and a prediction market, we showed that the latter are more efficient, while offering similar results. We also proposed a framework for comparing forecasting methods, to identify the constraints based on contingency factors. In conclusion, our research opens a new field of application of prediction markets and should help hasten their adoption by enterprises. Résumé français: Dans cette thèse, nous étudions l'utilisation de marchés de prédictions pour l'évaluation de nouvelles technologies. Nous nous intéressons plus particulièrement aux capacités des marchés de prédictions à évaluer des problématiques complexes, aux contraintes de conception pour une telle utilisation et à leur efficacité par rapport à des techniques traditionnelles. Pour ce faire, nous avons suivi une approche Design Science, développant itérativement plusieurs prototypes, les instanciant, puis les évaluant avant d'en raffiner la conception. Ceci nous a permis de faire de multiples contributions tant pratiques que théoriques. Nous avons tout d'abord montré que les marchés de prédictions étaient adaptés pour correctement apprécier des problématiques complexes. Nous avons également développé une typologie de facteurs de conception ainsi que des propositions de conception pour l'utilisation de ces marchés dans des contextes d'évaluation technologique. Ensuite, nous avons montré que ces marchés pouvaient résoudre une partie des problèmes liés à la gestion des portes-feuille de projets de recherche et développement et proposons une feuille de route pour leur mise en oeuvre. Finalement, en comparant la mise en oeuvre et les résultats d'une méthode de décision multi-critère et d'un marché de prédiction, nous avons montré que ces derniers étaient plus efficaces, tout en offrant des résultats semblables. Nous proposons également un cadre de comparaison des méthodes d'évaluation technologiques, permettant de cerner au mieux les besoins en fonction de facteurs de contingence. En conclusion, notre recherche ouvre un nouveau champ d'application des marchés de prédiction et devrait permettre d'accélérer leur adoption par les entreprises.

Health and (Other) Asset Holdings

Despite clear evidence of correlations between financial and medical statuses and decisions, most models treat financial and health-related choices separately. This article bridges this gap by proposing a tractable dynamic framework for the joint determination of optimal consumption, portfolio holdings, health investment, and health insurance. We solve for the optimal rules in closed form and capitalize on this tractability to gain a better understanding of the conditions under which separation between financial and health-related decisions is sensible, and of the pathways through which wealth and health determine allocations, welfare and other variables of interest such as expected longevity or the value of health. Furthermore we show that the model is consistent with the observed patterns of individual allocations and provide realistic estimates of the parameters that confirm the relevance of all the main characteristics of the model.

Computer-generated reminders delivered on paper to healthcare professionals; effects on professional practice and health care outcomes.

BACKGROUND: Clinical practice does not always reflect best practice and evidence, partly because of unconscious acts of omission, information overload, or inaccessible information. Reminders may help clinicians overcome these problems by prompting the doctor to recall information that they already know or would be expected to know and by providing information or guidance in a more accessible and relevant format, at a particularly appropriate time. OBJECTIVES: To evaluate the effects of reminders automatically generated through a computerized system and delivered on paper to healthcare professionals on processes of care (related to healthcare professionals' practice) and outcomes of care (related to patients' health condition). SEARCH METHODS: For this update the EPOC Trials Search Co-ordinator searched the following databases between June 11-19, 2012: The Cochrane Central Register of Controlled Trials (CENTRAL) and Cochrane Library (Economics, Methods, and Health Technology Assessment sections), Issue 6, 2012; MEDLINE, OVID (1946- ), Daily Update, and In-process; EMBASE, Ovid (1947- ); CINAHL, EbscoHost (1980- ); EPOC Specialised Register, Reference Manager, and INSPEC, Engineering Village. The authors reviewed reference lists of related reviews and studies.  SELECTION CRITERIA: We included individual or cluster-randomized controlled trials (RCTs) and non-randomized controlled trials (NRCTs) that evaluated the impact of computer-generated reminders delivered on paper to healthcare professionals on processes and/or outcomes of care. DATA COLLECTION AND ANALYSIS: Review authors working in pairs independently screened studies for eligibility and abstracted data. We contacted authors to obtain important missing information for studies that were published within the last 10 years. For each study, we extracted the primary outcome when it was defined or calculated the median effect size across all reported outcomes. We then calculated the median absolute improvement and interquartile range (IQR) in process adherence across included studies using the primary outcome or median outcome as representative outcome. MAIN RESULTS: In the 32 included studies, computer-generated reminders delivered on paper to healthcare professionals achieved moderate improvement in professional practices, with a median improvement of processes of care of 7.0% (IQR: 3.9% to 16.4%). Implementing reminders alone improved care by 11.2% (IQR 6.5% to 19.6%) compared with usual care, while implementing reminders in addition to another intervention improved care by 4.0% only (IQR 3.0% to 6.0%) compared with the other intervention. The quality of evidence for these comparisons was rated as moderate according to the GRADE approach. Two reminder features were associated with larger effect sizes: providing space on the reminder for provider to enter a response (median 13.7% versus 4.3% for no response, P value = 0.01) and providing an explanation of the content or advice on the reminder (median 12.0% versus 4.2% for no explanation, P value = 0.02). Median improvement in processes of care also differed according to the behaviour the reminder targeted: for instance, reminders to vaccinate improved processes of care by 13.1% (IQR 12.2% to 20.7%) compared with other targeted behaviours. In the only study that had sufficient power to detect a clinically significant effect on outcomes of care, reminders were not associated with significant improvements. AUTHORS' CONCLUSIONS: There is moderate quality evidence that computer-generated reminders delivered on paper to healthcare professionals achieve moderate improvement in process of care. Two characteristics emerged as significant predictors of improvement: providing space on the reminder for a response from the clinician and providing an explanation of the reminder's content or advice. The heterogeneity of the reminder interventions included in this review also suggests that reminders can improve care in various settings under various conditions.

Les premiers épisodes psychotiques: de l'importance du case management

Depuis 2004, le département de psychiatrie du centre hospitalier universitaire vaudois (CHUV) offre une prise en charge spécifique pour les patients présentant un premier épisode psychotique. La rupture de soins très fréquente, dès la sortie de l'hôpital, le mauvais pronostic à long terme en fonction de la durée de la psychose non traitée et enfin le taux élevé de tentatives de suicide avant une première hospitalisation se sont avérés suffisamment inquiétants et significatifs pour qu'une prise en charge de ce type puisse obtenir un soutien décisif. Dans l'article qui suit, nous nous proposons de décrire le programme Traitement et intervention précoces dans les troubles psychotiques (TIPP) en mettant en lumière la notion centrale de cette offre de soins, à savoir le rôle du case management. Il s'agira de rappeler brièvement les connaissances actuelles sur les psychoses émergentes, particulièrement la perspective plus optimiste que celle naguère réservée à cette forme de trouble psychique. Nous évoquerons également les offres de soins récentes telles qu'elles se déploient dans différents pays pour nous tourner ensuite plus spécifiquement vers notre expérience lausannoise. C'est à cet égard que nous développerons plus en détails le travail essentiel et spécifique du case manager, fil rouge du programme TIPP au long des trois ans qui le composent. La conclusion portera sur les projets de recherche en cours dédiés à cette population de jeunes patients, avec l'espoir que le changement de paradigme évoqué plus haut, un optimisme raisonnable pour le pronostic, puisse lui-même rester une question ouverte à de nouveaux apports scientifiques.

Collaboration entre médecin de famille et psychiatre pour les problèmes de santé mentale [Family physicians and psychiatrists' collaborative care for mental health problems].

The burden of disease linked to mental disorders represents more than one-fifth of years lived with disability in the world. Less than half of people suffering from mental disorders are adequately treated. Three quarter of those who receive treatment are followed by primary care. Collaborative care aims to increase the efficiency of direct general practitioner's treatment. Main components are sustainable and individualized consultation-liaison relationship (1/2 day of psychiatrist by 15 days for 10-15 general practitioners), and support of a clinical case manager for complex situations. Collaboration is bidirectional: early or crisis access to specialist care and long-term followup by general practitioner. This model is a challenge for the doctor-patient dual relationship and requires incentives in a public health perspective.