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“The latest available cross-country data presented in the PEPPER V Report (Lowitzsch and Hashi, 2024) can be viewed by examining EFP in and of itself as an isolated subject or it can be viewed in a much wider set of contexts. Widening the lens in order to examine EFP in the context of the concentration of capital ownership and the concentration of capital income can help observers establish EFP’s span of relevance. In particular US data on capital income show that policy makers need to be aware that EFP can have an important role in narrowing the income and wealth gap for the working middle class when the concentration of capital ownership and capital income is high and when real wage growth is low.”

“Against this background, this article makes a very straightforward observation that the relevance of EFP in an economic system, in a country, and for the average employee in a country is related to the trend in the concentration of capital ownership and capital income. Interest in the idea is potentially increased or decreased by trends in real wages. Atkinson, who many consider the founder of modern wealth concentration scholarship, “focuses on the increasing share of capital incomes a source of income inequality among individuals” (Cirillo et al., 2017, p. 1). Indeed, we consider the difference between labour’s share and capital’s share to be a critically important fundamental problem of political economy. This essay asserts that when this concentration is high and real wages are flat, other things being equal, EFP may be more relevant. When the concentration of capital ownership and capital income is high, this means that ownership and income on that ownership is thinly spread in the population. When real wages are flat, this means that the rate at which fixed wages can replenish wealth is decreasing. As a result, both trends would make EFP more relevant.”

The conceptual model suggested for this article asserts that the relevance of EFP can be viewed as a function of narrowing income and wealth options for the working middle class when the concentration of capital ownership and capital income is high and when real wage growth is low. Does this relevance change across economic systems? There is no question that the future understanding of these issues requires adding metrics to the statistical methodologies of different regions and countries and adding to existing reports and analyses that focus on both the dynamics of and trends in capital income (property income in the EU) and on the EUR and USD value of EFP at the mean and at the median for different income levels of the population

This article presents – for the first time – a society-wide measure of the impact of EFP on one economy, namely, the US For further research, it makes sense to build on the comparable data available on the distribution of capital ownership and have similar research on the distribution of capital income for both the EU and the US along with measures of the EUR and USD values of EFP.

This study investigates the paradox of lotteries in financial markets, challenging traditional utility models predicated on rational behavior amid uncertainty. It explores why investors are drawn to lotteries despite the potential trade-off between risk-adjusted returns and sporadically substantial gains.

Employing a multifaceted approach, the study first scrutinizes diverse theories elucidating the perplexing behavior of lottery investors. Subsequently, it assesses the premium attached to lottery stock shares in the Brazilian financial market using distinct methodologies, thereby offering a comprehensive analysis of this phenomenon. Finally, the study estimates the risk premium associated with the lottery stocks applying an extended Fama–French multifactor model and searching for evidence of overlap with other risk-based anomalies.

This research unveils theories underpinning seemingly irrational investor behavior vis-à-vis lotteries, revealing the motivations propelling investors to willingly exchange risk-adjusted returns for the allure of substantial but infrequent gains. Empirical evidence delineates the extent of the premium paid for lottery stocks in the Brazilian market.

The study’s novelty lies in its amalgamation of theoretical exploration, empirical analysis and the application of the Fama–French factor model to gauge the risk premium associated with lottery-related behavior. Furthermore, its investigation of lottery stocks within the Brazilian market introduces a distinctive dimension, elucidating market dynamics and investor behaviors unique to the region.

This paper aims to explore the potential relationship between internal corporate social responsibility (CSR) and the decline of organised labour in countries of the global North. Given the opposing trends since the late 20th century and the widespread adherence of internationally recognised labour standards in CSR codes, standards, and reporting frameworks, questions arise about the disparity between CSR rhetoric and practice regarding the collective rights of in-house employees. The paper further explores the tendency in CSR scholarship to overlook violations of collective rights for in-house employees in the global North.

To examine whether there is an elective affinity between the rise of CSR and the decline of organised labour, the paper uses a discursive institutionalism approach, providing a meta-theoretical analysis of academic literature on internal CSR. A scoping review methodology was used to identify relevant literature and compile it into an empirical corpus for a metatheoretical analysis. The empirical corpus, consisting of 38 articles, was generated through a Google Scholar (GS) search guided by the following questions: (1) What are the dominant conceptual framings of internal CSR? (2) What are the dominant roles and practical aspects of internal CSR?

The paper identifies two key disparities in the literature: (1) between rhetoric and practice regarding the collective rights of in-house employees in the global North and (2) between the extensive CSR research on violations of collective rights of value chain workers and the limited attention to in-house employees’ collective rights. The analysis highlights two factors contributing to these disparities: the integration of internal CSR into the corporate managerial toolbox and the distinction in CSR discourse between core labour standards and workplace issues. The analysis shows that internal CSR has an elective affinity with the decline of organised labour.

While scoping reviews are often standalone studies, this paper used the methodology for its stated purpose. Limitations include the broad span of internal CSR across various academic fields and reliance solely on GS. Measures taken to enhance inclusivity were unlimited review period, refined inclusion criteria and keywords during the selection process and cross-checks of cited articles.

Considering the implications of the decline of organised labour on workers’ collective voice, poverty and the distribution gap in wealth and income, this paper suggests that for CSR to play a significant role in advancing sustainable social justice, scholars and practitioners should look at ways to reduce the disparity between rhetoric and practice regarding employees’ voice and collective rights.

The paper lays the foundation for a better understanding of the potential links between internal CSR and the decline of organised labour. It addresses a gap in the literature on the interrelations between CSR and organised labour in the global North and proposes root causes of this gap. This contribution enriches the scarce literature exploring the potential elective affinity between CSR and transformations in the global economy and labour markets since the late 1980s. Finally, the paper deepens the understanding of the implications of CSR for employees’ collective rights and voice as well as for organised labour.

Economic evaluations often utilise individual-patient data (IPD) to calculate probabilities of events based on observed proportions. However, this approach is limited when interest is in the likelihood of extreme biomarker values that vary by observable characteristics such as blood glucose in gestational diabetes mellitus (GDM). Here, instead of directly calculating probabilities using the IPD, we utilised flexible parametric models that estimate the full conditional distribution, capturing the non-normal characteristics of biomarkers and enabling the derivation of tail probabilities for specific populations. In the case study, we used data from the Born in Bradford study (N = 10,353) to model two non-normally distributed GDM biomarkers (2-hours post-load and fasting glucose). First, we applied fully parametric maximum likelihood to estimate alternative flexible models and information criteria for model selection. We then integrated the chosen distributions in a probabilistic decision model that estimates the cost-effective diagnostic thresholds and the expected costs and quality-adjusted life years (QALYs) of the alternative strategies (‘Testing and Treating’, ‘Treat all’, ‘Do Nothing’). The model adopts the ‘payer’ perspective and expresses results in net monetary benefits (NMB). The log-logistic and Singh-Maddala distributions offered the optimal fit for the 2-hours post-load and fasting glucose biomarkers, respectively. At £13,000 per QALY, maximum NMB with ‘Test and Treat’ (−£330) was achieved for a diagnostic threshold of fasting glucose >6.6 mmol/L, 2-hours post-load glucose >9 mmol/L, identifying 2.9% of women as GDM positive. The case study demonstrated that fully parametric approaches can be implemented in healthcare modelling when interest lies in extreme biomarker values.