Evidence on the incentive optimality of share contracts

Ever since Adam Smith, economists have argued that share contracts do not provide proper incentives. This paper uses tenancy data from India to assess the existence of missing incentives in this classical example of moral hazard. Sharecroppers are found to be less productive than owners, but as productive as fixed-rent tenants. Also, the productivity gap between owners and both types of tenants is driven by sample-selection issues. An endogenous selection rule matches tenancy contracts with less-skilled farmers and lower-quality lands. Due to complementarity, such a matching affects tenants’ input choices. Controlling for that, the contract form has no effect on the expected output. Next, I explicitly model farmer’s optimal decisions to test the existence of non-contractible inputs being misused. No evidence of missing incentives is found.

Workplace diversity and incentive contracts : theory and evidence

This paper presents a simple theory of the provision of incentives in firms in which the principal optimally chooses both compensation contracts and the composition of the work force. Assuming that individuals display group loyalty, a less diverse (more homogeneous) work force will be more cooperative. Simple comparative statics provide some testable implications relating risk, diversity and incentive pay. I also analyze the case in which workers’ characteristics cannot be readily observed ex ante. The theory then predicts that firms are more likely to prevent workers from interacting with each other when workers are expected to have similar characteristics. This shows a surprising effect of diversity in the workplace: more diverse firms will promote more interactions between workers of different types, i.e. they will be less segregated. I test the main predictions of the model using a cross-sectional sample of corporate boards. I use the proportion of women on boards as a measure of diversity. There are three main empirical findings: (1) a significant negative correlation between firm risk and diversity, (2) a significant positive relationship between performance-based compensation and diversity and (3) a significant positive correlation between the number of board meetings (a measure of interactions among directors) and diversity. The evidence is broadly consistent with the implications of the theory.

Empresas como agentes de benefício para o mundo: reflexão sobre visões de futuro no Brasil

O objetivo desta pesquisa consistiu em explorar os fatores comuns das visões de futuro de três segmentos da comunidade paulistana (executivos, empreendedores sociais e pensadores), especialmente no que diz respeito às possíveis alianças cooperativas entre o mundo dos negócios e a sociedade como um todo, como também as estratégias utilizadas para concretizá-las. Indagamos se, com suas experiências de vida, os sujeitos entrevistados protagonizavam suas visões de futuro; quais eram os aspectos em comum dessas visões referentes ao futuro e ao futuro dos negócios; as estratégias utilizadas para concretizar essas visões comuns, percebidas como positivas, e de que maneira podiam contribuir para o desenvolvimento de uma relação cooperativa entre os negócios e a sociedade. Utilizamos 30 entrevistas (10 em cada segmento), em amostra acidental, gravadas e, posteriormente, submetidas a uma análise segundo o referencial da Psicologia Social de Enrique Pichon-Rivière, incluindo alguns dos indicadores do processo interacional (cooperação, comunicação e telecomunicação) e da reação dos entrevistados e entrevistadores com relação aos conteúdos aplicados (transferência e contratransferência). Baseamo-nos no protocolo de Investigação Apreciativa do projeto "Business as an Agent of World Benefit" da Weatherhead School of Management e conceitos convergentes com o referencial adotado no que se refere ao interjogo entre o homem e o mundo, o protagonismo, o contar histórias, o projeto como planejamento de futuro e a criação de novas metáforas. Com relação ao futuro imaginado, encontramos como resultado unânime a preocupação com o meio ambiente, a mudança de valores (com a revisitação da noção de bem-estar, as “mortes subjetivas” por preconceito, o acolhimento expandido aos profissionais da saúde e a saúde como valor); a interconexão (presente no mundo contábil, nos modelos econômicos equitativos, na visão do administrador como estadista, na integração entre o “dentro e fora do negócio”, na consciência da riqueza como medida global e não individual, na ética, no voluntariado por consciência, no cuidado com o ambiente, consigo mesmo, com o outro e com a vida e a morte); coerência, vínculo e escuta (com foco na qualidade das relações e não na tecnologia, no honrar o próximo, no compartilhamento de experiências, na mão dupla entre negócios e comunidade, no bom trato para com as crianças e adultos), inclusão/exclusão (com a criação de espaços públicos intencionalmente inclusivos e a real inclusão dos excluídos na empresa); a educação (através do raciocínio que lide com a linearidade vigente e estimule pensar na complexidade, do reconhecimento de aspectos saudáveis e construtivos no cotidiano, e da formação que abrange gerentes, empreendedores e comunidade, incluindo conhecimento, ética e gratidão); interioridade (alma do negócio, intuição, transcendência como diferencial influindo em uma nova percepção de lucro, sacralidade da vida, encontro consigo próprio); lucro (revisão desse conceito com foco na vida, no bem-estar, no enraizamento das pessoas); consumo/consumidor (com relação à mudança na forma de analisar investimentos inteligentes, uma nova visão de pobreza); longo prazo (ligado à sustentabilidade, à autovalorização das pessoas e à educação dos funcionários). Há muitas estratégias atuantes nos diferentes segmentos, as pensadas são: a intencionalidade de inclusão em espaços públicos por diversos agentes, a revisão do conceito de bem-estar, os benefícios compartilhados, a inclusão mais precoce do jovem no mundo dos negócios e não como forma de exploração, o incentivo às atitudes de liderança nos jovens para o novo mundo e o longo prazo, como tema a ser mais aprofundado. Quanto à relação entre negócios e sociedade parece não haver clareza entre os segmentos quanto ao papel desempenhado pelas empresas, pelas ONGs e pelas comunidades. Surgem pontos como a necessidade da expansão de idéias inovadoras por meio de instituições sem fins lucrativos, do fortalecimento da sociedade civil, de um novo conceito de organização social, das ONGs não serem mais necessárias, das comunidades solidárias como instituições de direito e da ampliação do sentido da responsabilidade social estendido ao ecossistema.

The risk-incentive trade-off in competitive search

Usando a abordagem de competitive search, modelo um mercado de trabalho com trabalhadores heterogêneos no qual há um problema de risco moral na relação entre firmas e trabalhadores. Nesse contexto, consigo prever como contratos reagem a mudanças nos parâmetros do mercado (em particular, o risco de produção), assim como a variação da probabilidade dos trabalhadores serem contratados. Minha contribuição principal é ver que, no nível individual, existe uma relação negativa entre risco e incentivos, mas efeitos de equilíbrio geral implicam que essa relação pode ser positiva no nível agregado. Esse resultado ajuda a esclarecer resultados empíricos contraditórios sobre a relação entre risco e incentivos.

Incentive-driven inattention

Fundação Getulio Vargas. Escola de Pós-Graduação em Economia

Apitidão funcional e comportamentos relacionados à saúde em mulheres idosas do município de Jequié-BA

The identification of the factors that interfere in the decline of functional conditions is useful in the planning of actions addressing the improvement in the conditions of the lives of elderly people. The purpose of this investigation was to analyze the relationship between social demographics and health aspects of the functional condition in elderly women of low income of the Brazilian northeast. This crosssectional study involved a representative sample of 222 women with an average age of 70 years (± 7.1), belonging to coexisting groups and that were resident in the urban area of the municipal district of Jequié /Bahia. In order to achieve this objective, a battery of physical tests of functional aptitude was carried out previously tested in pilot study, anthropometric measurements collected with a comparison of the measures referred to the reported weight and height as well as the application of an interview with questions containing subjects related to social demographic variables, clinical conditions and health, physical conditions and behaviors. Descriptive statistics Proceedings (frequency, average, standard deviation and percent distribution) were used for statistic analysis, and the calculation of the respective odds ratio by binary logistics regression, for the analysis of factors hierarchically grouped; p<0.05. The prevalence of 56% (n=122) of women considered with moderated or serious type of functional limitations was found, In which from multi-varied hierarchical analysis, significant association was verified with the age group over 80 years (p=0.02), conditions of widowhood (p=0.04), presence of arterial hypertension (p=0.001), and physical inactivity during leisure time (p=0.03). On the other hand for functional incapacities the prevalence was of 46.8% (n=104) being associated to the increase of the age (p=0.01), hospitalization (p=0.02), absence of physical activities along their lives (p=0.001) and the occurrence of alterations in the cognitive function (p=0.001). The normative table for the parameters of physical fitness generated conducive to health professionals in the diagnosis of health conditions and the prescription of physical exercises. The identified characteristics that are associated with the functional limitations / functional incapacities suggest a complex causal net in the determination of the functional condition in elderly women. However, actions addressed to the incentive of the practice of physical activities in the leisure time and the preservation of the cognitive function can contribute to a life with more quality for these people. This research was multidisciplinary approach to involve elements of psychology, nutrition and Physical Education in the elucidation of the object of study related to the functional condition of elderly women

Incentive spirometry for prevention of postoperative pulmonary complications in upper abdominal surgery

BackgroundThis is an update of a Cochrane Review first published in The Cochrane Library 2008, Issue 3.Upper abdominal surgical procedures are associated with a high risk of postoperative pulmonary complications. The risk and severity of postoperative pulmonary complications can be reduced by the judicious use of therapeutic manoeuvres that increase lung volume. Our objective was to assess the effect of incentive spirometry compared to no therapy or physiotherapy, including coughing and deep breathing, on all-cause postoperative pulmonary complications andmortality in adult patients admitted to hospital for upper abdominal surgery.ObjectivesOur primary objective was to assess the effect of incentive spirometry (IS), compared to no such therapy or other therapy, on postoperative pulmonary complications and mortality in adults undergoing upper abdominal surgery.Our secondary objectives were to evaluate the effects of IS, compared to no therapy or other therapy, on other postoperative complications, adverse events, and spirometric parameters.Search methodsWe searched the Cochrane Central Register of Controlled Trials (CENTRAL) (The Cochrane Library 2013, Issue 8), MEDLINE, EMBASE, and LILACS (from inception to August 2013). There were no language restrictions. The date of the most recent search was 12 August 2013. The original search was performed in June 2006.Selection criteriaWe included randomized controlled trials (RCTs) of IS in adult patients admitted for any type of upper abdominal surgery, including patients undergoing laparoscopic procedures.Data collection and analysisTwo authors independently assessed trial quality and extracted data.Main resultsWe included 12 studies with a total of 1834 participants in this updated review. The methodological quality of the included studies was difficult to assess as it was poorly reported, so the predominant classification of bias was 'unclear'; the studies did not report on compliance with the prescribed therapy. We were able to include data from only 1160 patients in the meta-analysis. Four trials (152 patients) compared the effects of IS with no respiratory treatment. We found no statistically significant difference between the participants receiving IS and those who had no respiratory treatment for clinical complications (relative risk (RR) 0.59, 95% confidence interval (CI) 0.30 to 1.18). Two trials (194 patients) IS compared incentive spirometry with deep breathing exercises (DBE). We found no statistically significant differences between the participants receiving IS and those receiving DBE in the meta-analysis for respiratory failure (RR 0.67, 95% CI 0.04 to 10.50). Two trials (946 patients) compared IS with other chest physiotherapy. We found no statistically significant differences between the participants receiving IS compared to those receiving physiotherapy in the risk of developing a pulmonary condition or the type of complication. There was no evidence that IS is effective in the prevention of pulmonary complications.Authors' conclusionsThere is low quality evidence regarding the lack of effectiveness of incentive spirometry for prevention of postoperative pulmonary complications in patients after upper abdominal surgery. This review underlines the urgent need to conduct well-designed trials in this field. There is a case for large RCTs with high methodological rigour in order to define any benefit from the use of incentive spirometry regarding mortality.

The Challenges of Psychology at Work in Mental Health: the drugs issue.

This article aims to show that the challenges of psychology in working with mental health in the field of drugs is traversed by both the conceptions molded by biopolitical forces (FOUCAULT) as the decadence of modern democracy (AGAMBEN), and visible features in the current treatment given in Brazil to issue of smoking (SILVA), as well as urbanistic projects such as the case of Luz district in São Paulo (LEITE & CASTRO). In this sense, it leads us to question about what is prohibited, about who actually suffers the punishment, in short, about what do we really take care when we take into account the Unheimlich (FREUD) and other social interdicts (BATAILLE).

Psychology and psychoanalysis in Brazil - From cultural syncretism to the collapse of liberal individualism

This paper focuses first on cultural syncretism, used to characterize Brazilian culture. The other aspect of this socially and racially blended culture is the unfinished assimilation of liberalism in politics and the economy, which defines Brazilian society. The increased assimilation and dissemination of psychology may be linked with these in cultural and social aspects. During the military period (1964-1974) the major expansion in university-level studies in psychology contributed ideologically to the dissemination of psychology throughout Brazilian society. This introduced a type of psychology that was related primarily to clinical practice and developed in opposition to social work practice. This paper examines the ideological bases for this conflict between clinical and social work. Criteria for understanding the cultural dissemination of psychoanalysis are then discussed, and it is argued that cultural incorporation of psychoanalysis involves the development of discourse complexes to reflect particular aspects of Brazilian society. The criteria (a non-totalitarian society and the displacement of a magical and religious interpretation of mental disturbance by psychiatric interpretation) are evaluated in relation to the peculiarities of Brazilian syncretism. The paper argues that cultural syncretism and the incomplete assimilation of liberal ideology must be included as criteria in understanding the particular cultural incorporation of psychoanalysis in Brazil.

Amerindian anthropology and cultural psychology: Crossing boundaries and meeting otherness` worlds

Addressing integrative possibilities between psychology and anthropology, this paper aims to design conceptual linkages between semiotic-cultural constructivist psychology and the anthropological theory of Amerindian perspectivism. From the psychological view, it is the interdependence between the structural and processual dimensions of the personal culture that makes parallels with Amerindian perspectivism fruitful. This anthropological frame proposes an experiment with native conceptions, which I argue similar to what Baldwin (1906) called sembling. Hence, it can be considered an active imitation of otherness` viewpoint in order to approach indigenous worlds. It is supposed that this procedure leads to the emergence of new symbolic elements configuring the cultural action field of each agency in interaction. It is proposed that ""making-believe`` the Amerindian is convergent with the dialogic-hermeneutic approach of semiotic-cultural constructivism. As a result of the present integrative effort, is designed a meta-model that multiplies the genetic process of concrete symbolic objects.

Cocaine effects on mouse incentive-learning and human addiction are linked to alpha 2 subunit-containing GABA(A) receptors

Because GABA(A) receptors containing alpha 2 subunits are highly represented in areas of the brain, such as nucleus accumbens (NAcc), frontal cortex, and amygdala, regions intimately involved in signaling motivation and reward, we hypothesized that manipulations of this receptor subtype would influence processing of rewards. Voltage-clamp recordings from NAcc medium spiny neurons of mice with alpha 2 gene deletion showed reduced synaptic GABA(A) receptor-mediated responses. Behaviorally, the deletion abolished cocaine`s ability to potentiate behaviors conditioned to rewards (conditioned reinforcement), and to support behavioral sensitization. In mice with a point mutation in the benzodiazepine binding pocket of alpha 2-GABA(A) receptors (alpha 2H101R), GABAergic neurotransmission in medium spiny neurons was identical to that of WT (i.e., the mutation was silent), but importantly, receptor function was now facilitated by the atypical benzodiazepine Ro 15-4513 (ethyl 8-amido-5,6-dihydro-5-methyl-6-oxo-4H-imidazo [1,5-a] [1,4] benzodiazepine-3-carboxylate). In alpha 2H101R, but not WT mice, Ro 15-4513 administered directly into the NAcc-stimulated locomotor activity, and when given systemically and repeatedly, induced behavioral sensitization. These data indicate that activation of alpha 2-GABA(A) receptors (most likely in NAcc) is both necessary and sufficient for behavioral sensitization. Consistent with a role of these receptors in addiction, we found specific markers and haplotypes of the GABRA2 gene to be associated with human cocaine addiction.