Can social cognitive theory constructs explain socio-economic variations in adolescent eating behaviours? A mediation analysis

Adolescents of low socio-economic position (SEP) are less likely than those of higher SEP to consume diets in line with current dietary recommendations. The reasons for these SEP variations remain poorly understood. We investigated the mechanisms underlying socio-economic variations in adolescents’ eating behaviours using a theoretically derived explanatory model. Data were obtained from a community-based sample of 2529 adolescents aged 12–15 years, from 37 secondary schools in Victoria, Australia. Adolescents completed a web-based survey assessing their eating behaviours, self-efficacy for healthy eating, perceived importance of nutrition and health, social modelling and support and the availability of foods in the home. Parents provided details of maternal education level, which was used as an indicator of SEP. All social cognitive constructs assessed mediated socio-economic variations in at least one indicator of adolescents’ diet. Cognitive factors were the strongest mediator of socio-economic variations in fruit intakes, while for energy-dense snack foods and fast foods, availability of energy-dense snacks at home tended to be strong mediators. Social cognitive theory provides a useful framework for understanding socio-economic variations in adolescent's diet and might guide public health programmes and policies focusing on improving adolescent nutrition among those experiencing socio-economic disadvantage.

Causality analysis between public capital and economic growth

Public capital has been considered to be the wheels of a nation's or a region's economic activity. The reverse effects, the contributions of economic growth to public capital, are also worth analysing. Non-structural
approaches in econometrics were implemented for the Australian economy using yearly data for the period from 1960 to 2008. A co-integration test was carried out to investigate whether tbere are long-term equilibrium relationships between each pair among public capital, private output, private capital and labour. Tbe Ganger causality test was further
employed to determine whether public capital contains useful information to predict a private production variable and vice versa. The results will provide historical evidence for Australia's federal and regional governments to assist in estimating the effects among these production variables, in particular, the effect of infrastructure spending on gross
domestic product.

Dot.Com rise as an indicator of business growth and economic progress : a retrospective view on telecom and banking sectors in Australia and India

In the year 2000, businesses in banking and telecom sectors worldwide re-engineered their value chain by extending their services by adapting ebusiness through dot.com launches. Subsequently, their validity became questionable with the spate of dot.com crashes and the IT stock meltdown. This book takes a retrospective view, indicating that e-business, as measured by dot.com growth trends, was a positive indicator for business growth in the sector and overall economic growth as it stimulated the respective economies. The book details an inductive analysis that studied if dot.com floats suggested any positive market capitalisation (broadly regarded as a measure of profitability) for the organisations, within two sectors, in two economies. In addition, there is detailed content analysis of global business trends, drivers, theories, sector/economy perspectives, achieved progress and instrumental cases. The book will be a view in retrospect for economists, business analysts, students of ebusiness and management (particularly MBA); academics and researchers.

Challenges to infrastructure delivery during the economic downturn : a qualitative analysis

Infrastructure plays a key role in creating and maintaining sustainable economic growth and a prosperous community. Infrastructure projects generally require a large amount of capital investment, which motivates involvement from the private sector in the delivery process. The Global Financial Crisis placed enormous pressure on both the public and private sectors, as the ability to borrow money for an extended tenor was greatly reduced. This study adopts a qualitative approach to analyse the challenges facing the delivery of infrastructure projects in an Australian context by considering the impacts of the Global Financial Crisis. It is found that the availability of resources and finance are perceived as the biggest challenges, with resources being more of a concern than finance to interviewees. In addition to these findings, ways in which the private sector can be better involved in the infrastructure delivery is discussed.

Demystifying the supply of capital and labour in a nation’s economic chain

Public capital has been considered to be the wheels of economic activity in a nation or region. The reverse effect, the contribution of economic growth to public capital, is also worth analysis. The non-structural vector auto-regression (VAR) approach is performed for the Australian economy using yearly data for the 1960-2008 period. The optimal lag is investigated to build the VAR model that is then tested for stability. The impulse response function is further employed to examine the response of one economic variable to the innovation of others and to determine the lagged terms for the maximum absolute value of the other variables’ responses. The results will provide historical evidence for the federal and regional governments of Australia to estimate the effects of these production variables, in particular, the effect of infrastructure spending on the gross domestic product.

An economic analysis of construction industries producer prices in Australia

Research on construction prices is significant for contractors and traders. A comprehensive understanding of construction prices may influence crucial decisions in business operation and arbitrage activities. This study focuses on the cointegration relationships of regional construction prices in Australia by using a range of econometric techniques including the stationarity test, the Engle-Granger cointegration approach and error correction model. The cointegration relationships amongst the regional construction prices are detected in this study. The application of the Engle-Granger cointegration approach examines the long run equilibrium relationships within the regional markets, and the error correction models explore the short run disequilibrium relationships. Results of this study suggest that the economic system in which construction industry participants operate is characterised by a highly competitive integrated marketplace. Furthermore, the causalities and diffusion patterns among the construction price indices in six states and two territories of Australia are drawn by the cointegration analysis. These outcomes reveal a pattern of diffusion paths and network linkages among the six states and two territories, and then expose the regional price linkages.

An agent-based approach to value theory and wealth distribution in economics

Any attempt to model an economy requires foundational assumptions about the relations between prices, values and the distribution of wealth. These assumptions exert a profound influence over the results of any model. Unfortunately, there are few areas in economics as vexed as the theory of value. I argue in this paper that the fundamental problem with past theories of value is that it is simply not possible to model the determination of value, the formation of prices and the distribution of income in a real economy with analytic mathematical models. All such attempts leave out crucial processes or make unrealistic assumptions which significantly affect the results. There have been two primary approaches to the theory of value. The first, associated with classical economists such as Ricardo and Marx were substance theories of value, which view value as a substance inherent in an object and which is conserved in exchange. For Marxists, the value of a commodity derives solely from the value of the labour power used to produce it - and therefore any profit is due to the exploitation of the workers. The labour theory of value has been discredited because of its assumption that labour was the only ‘factor’ that contributed to the creation of value, and because of its fundamentally circular argument. Neoclassical theorists argued that price was identical with value and was determined purely by the interaction of supply and demand. Value then, was completely subjective. Returns to labour (wages) and capital (profits) were determined solely by their marginal contribution to production, so that each factor received its just reward by definition. Problems with the neoclassical approach include assumptions concerning representative agents, perfect competition, perfect and costless information and contract enforcement, complete markets for credit and risk, aggregate production functions and infinite, smooth substitution between factors, distribution according to marginal products, firms always on the production possibility frontier and firms’ pricing decisions, ignoring money and credit, and perfectly rational agents with infinite computational capacity. Two critical areas include firstly, the underappreciated Sonnenschein-Mantel- Debreu results which showed that the foundational assumptions of the Walrasian general-equilibrium model imply arbitrary excess demand functions and therefore arbitrary equilibrium price sets. Secondly, in real economies, there is no equilibrium, only continuous change. Equilibrium is never reached because of constant changes in preferences and tastes; technological and organisational innovations; discoveries of new resources and new markets; inaccurate and evolving expectations of businesses, consumers, governments and speculators; changing demand for credit; the entry and exit of firms; the birth, learning, and death of citizens; changes in laws and government policies; imperfect information; generalized increasing returns to scale; random acts of impulse; weather and climate events; changes in disease patterns, and so on. The problem is not the use of mathematical modelling, but the kind of mathematical modelling used. Agent-based models (ABMs), objectoriented programming and greatly increased computer power however, are opening up a new frontier. Here a dynamic bargaining ABM is outlined as a basis for an alternative theory of value. A large but finite number of heterogeneous commodities and agents with differing degrees of market power are set in a spatial network. Returns to buyers and sellers are decided at each step in the value chain, and in each factor market, through the process of bargaining. Market power and its potential abuse against the poor and vulnerable are fundamental to how the bargaining dynamics play out. Ethics therefore lie at the very heart of economic analysis, the determination of prices and the distribution of wealth. The neoclassicals are right then that price is the enumeration of value at a particular time and place, but wrong to downplay the critical roles of bargaining, power and ethics in determining those same prices.

A preliminary analysis of the cost-effectiveness of the National Bowel Cancer Screening Program – demonstrating the potential value of comprehensive real world data

Background The complexity and cost of treating cancer patients is escalating rapidly and increasingly difficult decisions are being made regarding which interventions provide value for money. BioGrid Australia supports collection and analysis of comprehensive treatment and outcome data across multiple sites. Here we use preliminary data regarding the National Bowel Cancer Screening Program (NBCSP) and stage-specific treatment costs for colorectal cancer (CRC) to demonstrate the potential value of real world data for cost-effectiveness analyses (CEA).

Methods Data regarding the impact of NBCSP on stage at diagnosis was combined with stage-specific CRC treatment costs and existing literature. An incremental CEA was undertaken from a government healthcare perspective, comparing NBCSP to no-screening. The 2008 invited population (n=681,915) was modelled in both scenarios. Effectiveness was expressed as CRC-related life years saved (LYS). Costs and benefits were discounted at 3% per annum.

Results Over the lifetime and relative to no-screening, NBCSP was predicted to save 1,265 life-years, prevent 225 CRC cases and cost an additional $48.3 million, equivalent to a cost-effectiveness ratio of $38,217 per LYS. A scenario analysis assuming full participation improved this to $23,395.

Conclusions This preliminary CEA based largely on contemporary real world data suggests population-based FOBT screening for CRC is attractive. Planned ongoing data collection will enable repeated analyses over time, using the same methodology in the same patient populations, permitting an accurate analysis of the impact of new therapies and changing practice. Similar CEA using real world data related to other disease types and interventions appears desirable.

Market analysis study of the value technology systems to home owners

Smart Technology involves the integration of a variety of home systems including lighting, climate control, security etc. to enhance the comfort, convenience and economy of the home for its users. It is currently unknown if home buyers believe that these systems add value to the home. This study used the market value of home sales and an attitudinal survey of home buyers, to determine the increased value of homes containing Smart Technology. The results demonstrated that a significant price premium was paid by for the incorporation of the technology into new homes. In addition, the research suggests that the use of this technology is not limited to high income earners or other demographic stereotypes. Instead it has broad market appeal and the potential to save energy for the community at large.

Analysis of the value of home automation systems

Smart technology involves the integration of a variety of home systems including lighting, climate control, security etc. to enhance the comfort, convenience and economy of the home for its users. It is currently unknown if homebuyers believe that these systems add value to the home. This study used the market value of home sales and an attitudinal survey of homebuyers, to determine the increased value of homes containing smart technology. The results demonstrated that a significant price premium was paid for the incorporation of the technology into new homes. In addition, the research suggests that the use of this technology is not limited to high-income earners or other demographic stereotypes. Instead it has broad market appeal and the potential to save energy for the community at large.