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Ideal estimates of the intergenerational elasticity (IGE) in income require a large panel of income data covering the entire working lifetimes for two generations. Previous studies have demonstrated that using short panels and covering only certain portions of the life cycle can lead to considerable bias. I address these biases by using the PSID and constructing long time averages centered at age 40 in both generations. I find that the IGE in family income in the United States is likely greater than 0.6 suggesting a relatively low rate of intergenerational mobility in the United States. I find similar sized estimates for the IGE in labor income. These estimates support the prior findings of Mazumder (2005a, b) and are also similar to comparable estimates reported by Mitnik et al. (2015). In contrast, a recent influential study by Chetty, Hendren, Kline, Saez (2014) using tax data that begins in 1996 estimates the IGE in family income for the United States to be just 0.344 implying a much higher rate of intergenerational mobility. I demonstrate that despite the seeming advantages of extremely large samples of administrative tax data, the age structure, and limited panel dimension of the data used by Chetty et al. leads to considerable downward bias in estimating the IGE. I further demonstrate that the sensitivity checks in Chetty et al. regarding the age at which children’s income is measured, and the length of the time average of parent income used to estimate the IGE suffer from biases due to these data limitations. There are also concerns that tax data, unlike survey data, may not adequately reflect all sources of family income. Estimates of the rank–rank slope, Chetty et al.’s preferred estimator, are more robust to the limitations of the tax data but are also downward biased and modestly overstate mobility. However, Chetty et al.’s main findings of sizable geographic differences within the US in rank mobility are unlikely to be affected by these biases. I conclude that researchers should continue to use both the IGE and rank-based measures depending on their preferred concept of mobility. It is also important for researchers to have adequate coverage of key portions of the life cycle and to consider the possible drawbacks of using administrative data.

This chapter discusses key training challenges that organizations need to confront with the objective of building a robust human resource management system. Given the dynamics of the current business environment, training and development has become an indispensable function in global organizations. Building an effective human capital that contributes to continual organizational growth has become the established norm to survive in a competitive business landscape. However, the training and development function is often rendered ineffective, on account of various bottlenecks existing in the organization. Addressing these bottlenecks is quintessential in ensuring the creation of a performance-driven human capital. The goal of this chapter is to draw attention to the training impediments that hinder organizational growth and to diagnose the underlying causes for the same. This chapter concludes with recommendations that organizational decision-makers can leverage in their quest to strengthen the human capital, by utilizing their training and development infrastructure optimally.

The garbage can model showed that what appears to be irrational and unpredictable choices can be explained by processes that regulate attention allocation and the availability of choice alternatives. Because attention to alternatives fluctuates, the model generates context-dependent choices: evaluations of alternatives depend on the mix of other alternatives considered. I re-examine the mechanisms by which fluctuating attention can cause context-dependent choices. Using insights from behavioral decision theory I demonstrate how adding fluctuating attention to a well-known model of organizational decision making generates context-dependent choices of a kind that could not be explained by a maximizing process.

We examine the garbage can model as a case of organizational decision making under temporal order constraints such as in the case of a dispatcher on whose desk problems, solutions, and choice opportunities arrive in a stochastic order and get resolved at particular points in time. We follow the original (Cohen, March, & Olsen, 1972) simulation except their particular setup where the problems and decision makers have access to information regarding the decisions made up to the end of the previous period a rule that we consider to be myopic. Making the assignment (or rule) less myopic would be to provide information about problems that were attached in the current period and about decision makers that were assigned a choice this period to problems and to decision makers. We also bring in an expediter who can select one or two choices to expedite each period. The expediter is endowed with a total energy of 55 that can be expended on resolving any choice to decision. Each period after the problems are attached and decision makers assigned to choices, the expediter scans the choices. The expediter selects the two choices that are the closest to decision and expends energy to move them to decision. The simulations we ran show improvement in certain situations as measured by the number of unsolved problems. We discuss our results in the sense of providing simple design features to a complex decision situation. We also discuss the paradigm of the garbage can model in the larger context of organizational decision making.

This study examines the effectiveness of instruction in accounting ethics as measured by the impact of that instruction on the incidence of student plagiarism in a college writing assignment.

This study avoids the potential problems inherent in measuring Machiavellianism via a psychological questionnaire by using a “reverse methodology,” whereby Machiavellianism is assessed directly from behavior.

The results support past research suggesting that traditional collegiate ethical education may not affect students’ ethical choices. The findings also suggest that increasing penalties for ethical failures may be an effective means of deterring students and business professionals from engaging in inappropriate activities.

This study supports the use of a behavioral measure of Machivellianism as a means of evaluating the effectiveness of alternative instructional methods in ethics. This behavioral approach is superior to the traditional questionnaire methodology because Machivellianism is judged based on actual behavior rather than having students respond to hypothetical and often stereotyped ethical cases, whereby the student can provide an artificial response that will be viewed favorably by the evaluator.

The findings suggest that higher education needs to recognize the relevance of factors beyond mere ethical education when preparing students for the ethical challenges they will face in the business world.

This paper employs a unique “reverse methodology” to measure Machiavellianism. This reverse methodology has greater external validity in quasi-experimental ethical studies because the results can be extrapolated to real-world scenarios where there is a cost to behaving ethically.

Creativity is a critical skill across disciplines and contexts, and it is an important trait for humans to survive and thrive, personally and collectively. The fast-paced culture of business innovation has sought to promote and reward creativity as a coveted thinking skill. Creativity in and of itself, however, is a value-neutral construct, because novel and effective ideas may also have negative consequences. This darker aspect of creativity has come to the forefront in many recent cases, particularly in contexts involving digital and networking technologies, where the rapid pace of technological change does not encourage the kind of deliberative thinking necessary for nuanced and ethical business decisions. The authors consider why education is essential for expanding the ethical capacity of creative agency in business, describing the need to bring creativity and ethics together in educational opportunities and cultural values. The authors explore the idea of ‘wise creativity’ and the need to infuse more human-centred learning from the arts and humanities into business fields. Further, the authors suggest better practices for creative business education, such as: infusing real-world ethics learning into business education and professional development; infusing the liberal arts curriculum in business; offering opportunities for arts-based approaches in business learning; and instilling genuine mindfulness training in business education environments. The authors’ focus is on a shift away from a culture that values creativity purely as an instrumental approach for greater profitability, and towards one that values wise and humanizing creativity for good business practices that consider societal and individual wellbeing.

This study aims to critically review and analyse the classification of supply chain risks and disruptions and thereby suggest a suitable method for classifying maritime risks. It aims to discuss the propagation effects of port disruption on the supply chain and mitigation strategies.

In addition to secondary research, six semi-structured interviews were conducted with the management personnel of two terminal operators, two shipping lines and two insurance companies.

When a port disruption happens, the most immediate impact is the adverse effects on terminal operations. It also leads to a domino effect on other parties in the supply chain including shippers and consignees, shipping companies, inter-modal transport providers and other ports. Proper risk management needs to be embraced by the supply chain members. However, there is very little or no such collaboration between the supply chain members in practice.

This article proposes a more integrative approach in assessing various kinds of risks, and more research in this area to be done for Asia.

Risk management has been the concern for many stakeholders ranging from industry practitioners to the people who are affected by the maritime business throughout the world. The maritime industry should look into risk management in the maritime logistics and supply chain context instead of dealing with risk in isolation.

There is a serious lack of research for analysing supply chain disruptions with ports as a focal point. The paper contributes by filling the research gap.

The main purpose of this chapter is to explore the role BRICS countries have played in the formation of regional (free) trade agreements. The present chapter tries to understand and document recent developments and directions taken by the BRICS countries either individually or in aligning with each other at the regional and mega-regional levels.

The chapter is largely empirical and descriptive to analyse the recent RTAs policies of the BRICS countries.

This chapter provides in particular as assessment of the impact on BRICS countries of the three recent Mega-RTAs; that is TPP, TPIP and RCEP. For this purpose, an attempt had been made to find out the commonalties and divergences in the RTAs policies of the BRICS countries.

The chapter is divided into six sections. After a brief introduction, the second section deals with the reasons for countries entering into RTAs. The third section documents the directions of the current negotiations on Mega-RTAs and its (potential) geographical implications for the BRICS countries. The fourth and the fifth sections deal with the current status of these RTAs and their noticeable impact on the response of the BRICS countries. The final section concludes the research with suggestions and recommendations.

RTAs and Mega-RTAs frameworks have been useful for BRICS countries. This recent development in trade negotiations can be regarded as promising for them.