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We consider empirical measurement of equivalent variation (EV) and compensating variation (CV) resulting from price change of a discrete good using individual-level data when there is unobserved heterogeneity in preferences. We show that for binary and unordered multinomial choice, the marginal distributions of EV and CV can be expressed as simple closed-form functionals of conditional choice probabilities under essentially unrestricted preference distributions. These results hold even when the distribution and dimension of unobserved heterogeneity are neither known nor identified, and utilities are neither quasilinear nor parametrically specified. The welfare distributions take simple forms that are easy to compute in applications. In particular, average EV for a price rise equals the change in average Marshallian consumer surplus and is smaller than average CV for a normal good. These nonparametric point-identification results fail for ordered choice if the unit price is identical for all alternatives, thereby providing a connection to Hausman—Newey's (2014) partial identification results for the limiting case of continuous choice.

This study presents an industry model developed to analyze the link between targeted production subsidies and excess inventory holdings by using equilibrium displacement modelling. A major question to be investigated is whether a targeted production subsidy can be effective at reducing excess inventory while providing welfare gains to the domestic producers. Monte Carlo simulation results suggest that the policy is expected to achieve its objectives as it improves the welfare of targeted producers and reduces government inventories. The average cost of an increase in the production subsidy to taxpayers would have been 22 percent higher had treasury gains from reduced inventories not been taken into account in the welfare analysis.

This paper shows the effects of spatially aggregating data in an analysis of fishing site choice among Atlantic and Gulf of Mexico longline fishers. Parameter estimates of expected utility, measures of risk, and estimates of welfare losses from area closures are presented. The estimated parameters and the measures of risk aversion indicate some spatial variation. However, the welfare measures from the area closure vary widely between a spatially aggregated model and a disaggregated model. The reason appears to arise from the economic behavior of fishers in New Jersey, where the expected utility model performs poorly.

In an earlier study Wagner, Cubbage, and Holmes (WCH) conducted an applied welfare analysis of environmental regulations in the South's forestry sector. A major finding was that southern timber producers are net beneficiaries of regulation, at least in the short run. Unfortunately, this conclusion is based on a flawed procedure for calculating the producer welfare impact of a supply shift. In addition, the study mismeasured the supply and demand shifts. In this study we present a method for applied welfare analysis that avoids these problems, yet is theoretically consistent and easier to apply. Applying the simplified method to WCH's analysis, we find that environmental regulations impose a significant cost on the South's forestry sector (timber producers and consumers alike). Still, the gains to society from an improved environment may well offset these losses. The corrected estimates in this article provide a basis for assessing such tradeoffs. South J. Appl. For. 25(3):108–115.

Off-flavor in catfish restricts farm marketings 10 to 45% depending on the season. The economic impact on society of this imposed supply restriction depends, in part, on the elasticity of demand for catfish. Econometric estimates based on disaggregated processing plant data indicate an elastic demand at the processor level but an inelastic demand at the farm level. Short-run social welfare gains from the elimination of off-flavor are estimated to equal 12.0% of farm revenues ($10.0 million in 1983). The inelastic demand for catfish at the farm level, however, means that most of the societal gains will accrue to individuals beyond the farm gate. Thus, an economic justification exists for public sector funding of off-flavor research.

Recent research on the microfoundations of corporate social responsibility (CSR) has highlighted the need for improved measures to evaluate how stakeholders perceive and subsequently react to CSR initiatives. Drawing on stakeholder theory and data from five samples of employees (N = 3,772), the authors develop and validate a new measure of corporate stakeholder responsibility (CStR), which refers to an organization's context-specific actions and policies designed to enhance the welfare of various stakeholder groups by accounting for the triple bottom line of economic, social, and environmental performance; it is conceptualized as a superordinate, multidimensional construct. Results from exploratory factor analyses, first- and second-order confirmatory factor analyses, and structural equation modeling provide strong evidence of the convergent, discriminant, incremental, and criterion-related validities of the proposed CStR scale. Two-wave longitudinal studies further extend prior theory by demonstrating that the higher-order CStR construct relates positively and directly to organizational pride and perceived organizational support, as well as positively and indirectly to organizational identification, job satisfaction, and affective commitment, beyond the contribution of overall organizational justice, ethical climate, and prior measures of perceived CSR.

Previous research has shown that job insecurity is linked to a range of performance outcomes, but the number of studies exploring this relationship is still limited and the results are somewhat mixed. The first aim of this study was to meta-analytically investigate how job insecurity is related to task performance, contextual performance, counterproductive work behavior, creativity, and safety compliance. The second aim was to test two method-related factors (cross-sectional vs. longitudinal associations and self- vs. supervisor-ratings of performance) and two macro-level indicators of social protection (social welfare regime and union density) as moderators of these associations. The results show that job insecurity was generally associated with impaired employee performance. These findings were generally similar both cross-sectionally and longitudinally and irrespective of rater. Overall, the associations between job insecurity and negative performance outcomes were weaker in welfare regimes characterized by strong social protection, whereas the results concerning union density produced mixed results. A majority of the findings confirmed the negative associations between job insecurity and types of employee performance, but future research is needed to elaborate on the effects of temporal aspects, differences between ratings sources, and further indicators of social protection in different cultural settings in the context of job insecurity.

Head Start (HS) is the largest federally funded preschool program for disadvantaged children. Research has shown relatively small impacts on cognitive and social skills; therefore, some have questioned its effectiveness. Using data from the Head Start Impact Study (3-year-old cohort; N = 2,449), latent class analysis was used to (a) identify subgroups of children defined by baseline characteristics of their home environment and caregiver and (b) test whether the effects of HS on cognitive, and behavioral and relationship skills over 2 years differed across subgroups. The results suggest that the effectiveness of HS varies quite substantially. For some children there appears to be a significant, and in some cases, long-term, positive impact. For others there is little to no effect.

Research has started to explore the associations between social support and well-being among children and adolescents, but the overall relationship is still unclear. This study explored: (1) the overall association between social support and well-being, (2) the association differences among categories of well-being, (3) the association differences among different types of social support measures, (4) the association differences among different support sources, and (5) whether the association between social support and well-being changed with participants' age. Two hundred forty-six studies were collected and analyzed, and the results indicated a positive but small association between social support and well-being. Additionally, moderator analyses indicated that social support was more strongly associated with self-concept, perceived support was more strongly associated with well-being, support from teachers and school personnel was more strongly associated with well-being, and the association between social support and well-being increased with age. The implications and possible applications of the relationship between social support and well-being among children and adolescents are discussed. [PUBLICATION ABSTRACT]

This paper reports results from the randomized evaluation of a group-lending microcredit program in Hyderabad, India. A lender worked in 52 randomly selected neighborhoods, leading to an 8.4 percentage point increase in takeup of microcredit. Small business investment and profits of preexisting businesses increased, but consumption did not significantly increase. Durable goods expenditure increased, while \"temptation goods'' expenditure declined. We found no significant changes in health, education, or women's empowerment. Two years later, after control areas had gained access to microcredit but households in treatment area had borrowed for longer and in larger amounts, very few significant differences persist.