Business Commons^™

Individuals Approaching Retirement Have Options (Literally) To Secure A Comfortable Retirement, Bryan Foltice

Bryan Foltice

This article examines the critical final five-year period leading up to retirement and analyzes whether traditional asset-allocation strategies effectively and consistently assist individuals in reaching their retirement income goals as they approach retirement. These traditional strategies are evaluated against alternative, option-based investment strategies that assure a certain amount of retirement income, after adjusting for inflation, while maximizing stock participation with the remaining funds in the portfolio through the use of options. In this simulation, we find higher overall expected yields in the traditional investment strategies over the evaluated five-year period. However, after applying a constant relative risk aversion (CRRA) coefficient, …

In Equations We Trust? Formula Learning Effects On The Exponential Growth Bias, Bryan Foltice, Thomas Langer

Bryan Foltice

This paper evaluates the possible benefits and drawbacks of the formal formula learning of compound growth as it pertains to eliminating, or at least reducing, the exponential growth bias in various household savings and debt decisions. In our main experimental study, we determine if the ability to calculate the simple compound savings formula only assists in its direct area of application with an available calculator, or if this knowledge extends into similar exponentially-based savings and debt decisions when either a calculator is prohibited or when the formula is unknown. In the process of tackling this research question, we develop a …

The Impact Of Board Structure On Ipo Underpricing, Steven Dolvin, Jack Kirby

Steven D. Dolvin

Prior research has examined the impact of board structure on firm performance and found that characteristics such as board size affect both operating and stock price performance. Existing research has concentrated primarily on performance in periods well removed from a firm’s initial public offering (IPO), and relatively little research has examined the impact of board structure on the stock price performance of IPOs, particularly with regard to characteristics other than board size. This study fills this gap, finding that the key board characteristic is the percentage external directors on the board. The authors find that the greater the percentage of …

Macroconstants Of Development: A New Benchmark For The Strategic Development Of Advanced Countries And Firms, Andrey Bystrov, Vyacheslav Yusim, Tamilla Curtis

Dr. Tamilla Curtis

This research proposed a new indicator of countries’ development called “macroconstants of development”. The literature review indicates that the concept of "macroconstants of development" is not used at the moment in neither the theory nor the practice of industrial policy. Research of longitudinal data of total GDP, GDP per capita and their derivatives for most countries of the world was conducted. An analysis of statistical information has been done by employing econometric analyses.

Based on the analysis of the statistical data, which characterizes the development of large, technologically advanced countries in ordinary conditions, it was identified that the average acceleration …

A Teaching Supplement On Sensitivity Analysis For Linear Programming In Undergraduate Business Programs (Forthcoming), Jomon Aliyas Paul, Leo Macdonald

Jomon Aliyas Paul

Sensitivity analysis, a key linear programming (LP) concept, is often explained in text books using complex problem scenarios that students have difficulty relating to. Consequently, many students do not fully comprehend nor appreciate significance of shadow prices or range of optimality for objective coefficients. This adds to the challenges instructors face in promoting critical thinking, a key goal in operations research and management science courses. Limited student-faculty interactions further exacerbates the problem in online learning environments. These issues can be effectively addressed through use of simple real world examples for instruction, followed by discussion of insights and intuition behind results …

Decision Support Tools For Competitive Usda Food Aid Bidding, Jomon Aliyas Paul, Xinfang (Jocelyn) Wang

Jomon Aliyas Paul

The U.S. Department of Agriculture (USDA) currently uses a bidding system to determine carriers and suppliers that would partner in providing food aid annually in response to global emergencies and famine. We mimic the USDA approach via a robust optimization model featuring box and ellipsoid uncertainty frameworks to account for uncertainties in demand, supplier and carrier bid prices. Through a case study utilizing historical invoice data, we demonstrate our model applicability in improving ocean carrier and food supplier bid pricing strategy and similar supply chain network optimization problems. Through a validation algorithm we demonstrate the value of our robust models.

Location And Capacity Allocation Decisions To Mitigate The Impacts Of Unexpected Disasters, Jomon Aliyas Paul, Leo Macdonald

Jomon Aliyas Paul

A Stochastic Dynamic Programming Approach For Strategic National Stockpile Location-Allocation Planning For Improved Hurricane Preparedness, Jomon Aliyas Paul, Leo Macdonald

Jomon Aliyas Paul

Integrating Commercial Ambulatory Electronic Health Records With Hospital Systems: An Evolutionary Process., Susan A Sherer, Chad D Meyerhoefer, Michael Sheinberg Md, Donald Levick Md

Donald Levick MD, MBA, CPHIMS

OBJECTIVE: The increase in electronic health record implementation in all treatment venues has led to greater demands for integration within and across practice settings with different work cultures. We study the evolution of coordination processes when integrating ambulatory-specific electronic health records with hospital systems. MATERIALS AND METHODS: Longitudinal qualitative study using semi-structured interviews and archival documentation throughout a 5-year implementation and integration of obstetrical ambulatory and hospital records with a goal of achieving a perinatal continuum of care. RESULTS: As users implement and integrate electronic health records, there is an evolution in their focus from technology acceptance to structural adaptation …

Effect Of Certificate Of Need Law On Emergency Department Quality Of Care, Jomon Aliyas Paul, Huan Ni, Aniruddha Bagchi

Jomon Aliyas Paul

No abstract provided.

Practicing Anthropology In An Academic Community Hospital: Lessons From The Field, Lynn Deitrick, Terry Capuano, Debbie Salas-Lopez

Debbie Salas-Lopez MD, MPH

No abstract provided.

Alignment Of Lean Management Process To Quality And Safety In A Academic Community Hospital: Psychiatry For The Twenty First Century., Ronald Swinfard, Michael Kaufmann, Ralph Primelo, Laurence Karper, Muhamad Rifai, Edward Norris, Debbie Salas-Lopez, David Burmeister, Gail Stern, David Dylewski, D Ezrow, Rosanne Teders, Courtney Vose

Debbie Salas-Lopez MD, MPH

No abstract provided.

Optimal Diet Selection And The Compliance Problem: A Technical Note, Munirul Nabinl, Sukanto Bhattacharya, Kuldeep Kumar

Kuldeep Kumar

In this paper we have posited an alternative methodology for the least-cost diet selection problem subject to a given set of nutritional constraints. In order to better address the implicit compliance problem, we have re-cast the classical diet selection problem using a two-stage approach whereby in the fi rst stage the dietician decides on the total number of least-cost combinations which satisfy the nutritional requirements and in the second stage, the dietician finds the optimal number of diet plans that have to be formulated. The second stage basically involves finding a reduced search space n* out of which the dietician …

A Process Flow Based Framework For Nurse Demand Estimation To Address Nurse Shortage., Jomon Paul, Leo Macdonald

Leo MacDonald

The nursing shortage in the United States poses a serious problem to hospitals, given that nurses provide an indispensable service within the healthcare system. This issue is expected to worsen, especially given the aging population of baby-boomers, which includes those that are part of the nurse workforce. This has resulted in a wide variety of problems, including patient safety issues, inability to detect complications, and potential patient mortality rate increases. Nurse shortage implications go beyond healthcare quality, extending to health economics as well. Inaccurate estimates of the nursing resources required to satisfy patient demand in a hospital environment could make …

Models Using The Benefits Of Cross Training Policies To Tackle Nurse Shortage Crisis, Jomon Paul, Leo Macdonald

Leo MacDonald

This paper seeks to offer insight into cross training strategies that could be effective in aiding in alleviating the nurse shortage issue and its potential to negatively impact on patient safety and mortality. We develop optimization models to evaluate the benefits of cross-training, in particular chaining practices, on nurse workforce planning under stochastic demand, and determine the optimal allocation of both regular and cross-trained staff at a minimum cost. We demonstrate the benefits of cross-training in terms of a reduction in the total number of nurses required to satisfy demand across multiple departments as well as from an economic (i.e. …

A Model To Study Disparities And Lifetime Medical Costs, Jomon Aliyas Paul, Leo Macdonald, Govind Hariharan

Leo MacDonald

We develop a mathematical model that captures the complex interactions within the health service system featuring chronic diseases and provides valuable lessons that could assist in controlling escalating healthcare costs. We utilize a Monte Carlo simulation framework to simulate the evolution of a population subject to deaths, births, and disease conditions. The model estimates the lifetime health expenditures of individuals based on demographics including race, age, and gender, as well as risk factors that contribute to the development of specific disease conditions. We further incorporate interactions between multiple disease conditions and the effect of risk factors in chronic disease incidence …

A Mixed Method Study Of Information Availability On Pregnancy Outcomes, Donald Levick Md

Donald Levick MD

No abstract provided.

Optimal Allocation Of Resources In Airport Security: Profiling Vs. Screening, Aniruddha Bagchi, Jomon Aliyas Paul

Jomon Aliyas Paul

This model examines the role of intelligence gathering and screening in providing airport security. We analyze this problem using a game between the government and a terrorist. By investing in intelligence gathering, the government can improve the precision of its information. In contrast, screening can be used to search a passenger and thereby deter terrorist attacks. We determine the optimal allocation of resources between these two strategies wherein we model the role of intelligence using the concept of supermodular precision. One striking result is that under certain circumstances, an increase in the investment in intelligence can induce a more devious …

A Model To Study Disparities And Lifetime Medical Costs, Jomon Aliyas Paul, Leo Macdonald, Govind Hariharan

Jomon Aliyas Paul

We develop a mathematical model that captures the complex interactions within the health service system featuring chronic diseases and provides valuable lessons that could assist in controlling escalating healthcare costs. We utilize a Monte Carlo simulation framework to simulate the evolution of a population subject to deaths, births, and disease conditions. The model estimates the lifetime health expenditures of individuals based on demographics including race, age, and gender, as well as risk factors that contribute to the development of specific disease conditions. We further incorporate interactions between multiple disease conditions and the effect of risk factors in chronic disease incidence …

Models Using The Benefits Of Cross Training Policies To Tackle Nurse Shortage Crisis, Jomon Paul, Leo Macdonald

Jomon Aliyas Paul

This paper seeks to offer insight into cross training strategies that could be effective in aiding in alleviating the nurse shortage issue and its potential to negatively impact on patient safety and mortality. We develop optimization models to evaluate the benefits of cross-training, in particular chaining practices, on nurse workforce planning under stochastic demand, and determine the optimal allocation of both regular and cross-trained staff at a minimum cost. We demonstrate the benefits of cross-training in terms of a reduction in the total number of nurses required to satisfy demand across multiple departments as well as from an economic (i.e. …

Alignment Of Lean Management Process To Quality And Safety In A Academic Community Hospital: Psychiatry For The Twenty First Century., Ronald Swinfard, Michael Kaufmann, Ralph Primelo, Laurence Karper, Muhamad Rifai, Edward Norris, Debbie Salas-Lopez, David Burmeister, Gail Stern, David Dylewski, D Ezrow, Rosanne Teders, Courtney Vose

Edward R Norris MD, FAPA, FAPM

No abstract provided.

Testimony To Senator Mike Folmer, Harry Lukens, Donald Levick

Donald Levick MD

No abstract provided.

The Balanced Scorecard: Its Role In The Effective Management Of Resources, Terry Capuano

Terry A Capuano MBA, MSN, RN, FACHE, NE-BC

No abstract provided.

Foreword, Terry Capuano

Terry A Capuano MBA, MSN, RN, FACHE, NE-BC

No abstract provided.

Reward And Recognition: Building A Comprehensive Program And Culture, Terry Capuano

Terry A Capuano MBA, MSN, RN, FACHE, NE-BC

No abstract provided.

Magnet Status Helps Hospitals Pull In Nurses, Terry Capuano

Terry A Capuano MBA, MSN, RN, FACHE, NE-BC

No abstract provided.

Case Study To Achieve A Magnet Enviroment, Terry Capuano

Terry A Capuano MBA, MSN, RN, FACHE, NE-BC

No abstract provided.

Coronary Artery Bypass Graft Surgery: Improving Cost And Quality Outcomes, Terry Capuano

Terry A Capuano MBA, MSN, RN, FACHE, NE-BC

No abstract provided.

Systemic Versus Nonsystemic Approaches To Quality Improvement, William Roth, Terry Capuano

Terry A Capuano MBA, MSN, RN, FACHE, NE-BC

No abstract provided.

Practicing Anthropology In An Academic Community Hospital: Lessons From The Field, Lynn Deitrick, Terry Capuano, Debbie Salas-Lopez

Terry A Capuano MBA, MSN, RN, FACHE, NE-BC

No abstract provided.