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Much of the literature on theories of decision making under risk has emphasized differences between theories. One enduring theme has been the attempt to develop a distinction between “normative” and “descriptive” theories of choice. Bernoulli (1738) introduced log utility because expected value theory was alleged to have descriptively incorrect predictions for behavior in St. Petersburg games. Much later, Kahneman and Tversky (1979) introduced prospect theory because of the alleged descriptive failure of expected utility (EU) theory (von Neumann & Morgenstern, 1947).

We take Cumulative Prospect Theory (CPT) seriously by rigorously estimating structural models using the full set of CPT parameters. Much of the literature only estimates a subset of CPT parameters, or more simply assumes CPT parameter values from prior studies. Our data are from laboratory experiments with undergraduate students and MBA students facing substantial real incentives and losses. We also estimate structural models from Expected Utility Theory (EUT), Dual Theory (DT), Rank-Dependent Utility (RDU), and Disappointment Aversion (DA) for comparison. Our major finding is that a majority of individuals in our sample locally asset integrate. That is, they see a loss frame for what it is, a frame, and behave as if they evaluate the net payment rather than the gross loss when one is presented to them. This finding is devastating to the direct application of CPT to these data for those subjects. Support for CPT is greater when losses are covered out of an earned endowment rather than house money, but RDU is still the best single characterization of individual and pooled choices. Defenders of the CPT model claim, correctly, that the CPT model exists “because the data says it should.” In other words, the CPT model was borne from a wide range of stylized facts culled from parts of the cognitive psychology literature. If one is to take the CPT model seriously and rigorously then it needs to do a much better job of explaining the data than we see here.

The paper presents results from the implementation and evaluation of a EU/WHO multi‐centre programme on the promotion of children's psychosocial development through primary health care services. The aims of the study were to develop methods for use by primary health care workers in their contact with families on issues pertaining to healthy psychosocial development in the first two years of life, to develop a training programme for primary health care workers to implement in their contact with the families, to evaluate the effectiveness of the programme and to promote the implementation of the developed intervention techniques through the network of primary health care services.

Leadership educators must consider how to most effectively develop youth knowledge, skills, attitudes, aspirations and leadership abilities when facilitating leadership development. During the first two millennia, leadership was adult-centered, with little focus on development. To develop effective leadership programs, it is essential that leadership educators: consider the implications of societal trends; project the contexts of 21^st century leadership; understand and apply the principles of effective youth leadership development; and, develop meaningful adult and adolescent partnerships to prepare youth for success in the third millennium.

In this chapter, two reforms in initial teacher education at the University of Oslo are contrasted and compared with regard to the use of digital technology and the underlying ideas of teaching and learning. Reflecting different time periods of technology development, these reforms initiated in 2000 and 2012, respectively, offer valuable insights into how initial teacher education is influenced by technologies in the society and how conceptions of teacher professional learning are changing over time. This study highlights the constraints and affordances of the technologies for changing and bridging practices in teacher education. For the uptake and use of digital technology, the findings point to the necessity of critically examining the way in which the approaches to teaching and learning in initial teacher education and the constraints of how the technology designs are influencing student teachers’ learning.

Examines Just‐in‐Time (JIT) from its evolution as a Japanese concept through to a review of its philosophy and implementation. Cites several techniques of implementation. Includes a review of the early work of various researchers and practitioners. Concludes that JIT is a very effective manufacturing philosophy which is universal in nature encompassing all aspects of manufacturing. Suggests a few deficiencies in current literature.

Laboratory studies of social interaction have revealed a wide range of phenomena that are difficult to explain using standard economic models. For example, people will often sacrifice their own earnings in order to be generous, cooperative, punitive, and retributive in interactions with anonymous strangers. “Behavioral” models that redefine agents’ preferences attempt to provide an account of these phenomena as reflecting a “taste for fairness” or altruism, aversion to inequality, concern about others’ beliefs, and so on. Such models either fail to account for the rich sensitivity of actions to context or in allowing for rich context-dependence, these models ultimately substitute description for explanation. Hayek’s work provides a foundation for thinking about how to explain these phenomena, by conceiving of people as both purpose-seeking (as in economic models) and rule-following. Decisions are shaped both by material interests and by a normative framework that is evoked by context and helps people decide what one ought to do in a particular situation. The implication of this approach is that rather than trying to understand heterogeneity across individuals in terms of preferences, experimenters should instead try to understand heterogeneity across contexts in terms of the rules and norms that operate in the background and guide or constrain people’s purpose-seeking tendencies. What economics needs, then, is a theory of how and why these rules and norms vary with context as they do.

This article examines the various definitions accorded to the two key terms in records management ‐ the records and records management. Variations in their definition have lead to confusion which affects the formulation of theory to underpin the discipline. This problem is to be discussed in two separate parts. Part 1 discusses the changing definition of the ‘record’ as it evolves from an archives perspective, through a management perspective to an information technology perspective. These changes have lead to changes in the status of records. This is discussed as records as objects vs records as electronic objects. However, this is not a new issue. It was recognised by Jenkinson as early as 1922. The debate on the definition of records concludes that any new definition needs to take account of the component parts of a record: the information, the medium and the function. Part 2 will discuss the various definitions of records management.

Behavioral economics poses a challenge for the welfare evaluation of choices, particularly those that involve risk. It demands that we recognize that the descriptive account of behavior toward those choices might not be the ones we were all taught, and still teach, and that subjective risk perceptions might not accord with expert assessments of probabilities. In addition to these challenges, we are faced with the need to jettison naive notions of revealed preferences, according to which every choice by a subject expresses her objective function, as behavioral evidence forces us to confront pervasive inconsistencies and noise in a typical individual’s choice data. A principled account of errant choice must be built into models used for identification and estimation. These challenges demand close attention to the methodological claims often used to justify policy interventions. They also require, we argue, closer attention by economists to relevant contributions from cognitive science. We propose that a quantitative application of the “intentional stance” of Dennett provides a coherent, attractive and general approach to behavioral welfare economics.