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Nurse navigators (NNs) coordinate patient care, improve care quality and potentially reduce healthcare resource use. The purpose of this paper is to undertake an evaluation of hospitalisation outcomes in a new NN programme in Queensland, Australia.

A matched case-control study was performed. Patients under the care of the NNs were randomly selected (n=100) and were matched to historical (n=300) and concurrent (n=300) comparison groups. The key outcomes of interest were the number and types of hospitalisations, length of hospital stay and number of intensive care unit days. Generalised linear and two-part models were used to determine significant differences in resources across groups.

The control and NN groups were well matched on socio-economic characteristics, however, groups differed by major disease type and number/type of comorbidities. NN patients had high healthcare needs with 53 per cent having two comorbidities. In adjusted analyses, compared with the control groups, NN patients showed higher proportions of preventable hospitalisations over 12 months, similar days in intensive care and a smaller proportion had overnight stays in hospital. However, the NN patients had significantly more hospitalisations (mean: 6.0 for NN cases, 3.4 for historical group and 3.2 for concurrent group); and emergency visits.

As many factors will affect hospitalisation rates beyond whether patients receive NN care, further research and longer follow-up is required.

A matched case-control study provides a reasonable but insufficient design to compare the NN and non-NN exposed patient outcomes.

In their seminal papers on ARCH and GARCH models, Engle (1982) and Bollerslev (1986) specified parametric inequality constraints that were sufficient for non-negativity and weak stationarity of the estimated conditional variance function. This paper uses Bayesian methodology to impose these constraints on the parameters of an ARCH(3) and a GARCH(1,1) model. The two models are used to explain volatility in the London Metals Exchange Index. Model uncertainty is resolved using Bayesian model averaging. Results include estimated posterior pdfs for one-step-ahead conditional variance forecasts.

Bayesian Econometrics is a volume in the series Advances in Econometrics that illustrates the scope and diversity of modern Bayesian econometric applications, reviews some recent advances in Bayesian econometrics, and highlights many of the characteristics of Bayesian inference and computations. This first paper in the volume is the Editors’ introduction in which we summarize the contributions of each of the papers.

The purpose of this paper is to present a conceptual framework of cool for social marketing through a comprehensive literature review and integrating extant literature on cool.

A comprehensive search and review of extant literature across social marketing, business disciplines, arts, psychology, social sciences and humanities was undertaken to develop an understanding of cool and its relevance to social marketing. The review permitted developing a comprehensive set of characteristics that are associated with cool.

A conceptual framework of cool organised according to the following dimensions is presented and discussed: deviating from norm, self-expressive, indicative of maturity, subversive, pro-social, evasive, and attractive.

This paper advances theoretical knowledge in the social marketing domain by offering a conceptual framework of cool, and by suggesting a set of guidelines to develop cool social marketing programs.

The Austrian economist Ludwig Lachmann claimed that Keynes was a lifelong subjectivist. To evaluate this, we start by distinguishing Keynes’ writings on probability theory from his writings on economics. In the General Theory (1936), Keynes’ treatment of expectations provides the basis for Lachmann’s view that Keynes was a subjectivist at heart. In his Treatise on Probability (1921), Keynes refers explicitly to the subjectivism–objectivism divide in probability theory and pins his colors to the objectivist mast. In this essay, we present the objectivist slant in Keynes’ earlier writings on probability theory. Thereafter, we evaluate the criteria Lachmann employed to cast Keynes as a subjectivist.

Estimation of (in)efficiency became a popular practice that witnessed applications in virtually any sector of the economy over the last few decades. Many different models were deployed for such endeavors, with Stochastic Frontier Analysis (SFA) models dominating the econometric literature. Among the most popular variants of SFA are Aigner, Lovell, and Schmidt (1977), which launched the literature, and Kumbhakar, Ghosh, and McGuckin (1991), which pioneered the branch taking account of the (in)efficiency term via the so-called environmental variables or determinants of inefficiency. Focusing on these two prominent approaches in SFA, the goal of this chapter is to try to understand the production inefficiency of public hospitals in Queensland. While doing so, a recognized yet often overlooked phenomenon emerges where possible dramatic differences (and consequently very different policy implications) can be derived from different models, even within one paradigm of SFA models. This emphasizes the importance of exploring many alternative models, and scrutinizing their assumptions, before drawing policy implications, especially when such implications may substantially affect people’s lives, as is the case in the hospital sector.

Property and casualty (“P&C”) insurance companies rely on “risk capital” to absorb large losses that unexpectedly deplete claims‐paying resources and reduce underwriting capacity. The purpose of this paper is to review the similarities and differences between two different types of risk capital raised by insurers to cover losses arising from natural catastrophes: internal risk capital provided by investors in insurance company debt and equity; and external risk capital provided by third parties. The paper also explores the distinctions between four types of external catastrophe risk capital: reinsurance, industry loss warranties, catastrophe derivatives, and insurance‐linked securities. Finally, how the credit crisis has impacted alternative sources of catastrophe risk capital in different ways is considered.

The discussion is based on the conceptual framework for analyzing risk capital developed by Merton and Perold.

In 2008, the P&C insurance industry was adversely affected by significant natural catastrophe‐related losses, floundering investments, and limited access to capital markets, all of which put upward pressure on catastrophe reinsurance premiums. But the influx of new risk capital that generally accompanies hardening markets has been slower than usual to occur in the wake of the credit crisis. Meanwhile, disparities between the relative costs and benefits of alternative sources of catastrophe risk capital are even more pronounced than usual.

Although many insurance companies focus on how much reinsurance to buy, this paper emphasizes that a more important question is how much risk capital to acquire from external parties (and in what form) vis‐à‐vis investors in the insurance company's own securities.

Murder is overwhelmingly a male affair (UNODC Global Study on Homicide, 2019). So, when women kill, their crimes gain a lot of attention and even more hysteria in both courts and media. This chapter will analyse the cases of Sally Challen, Belinda van Krevel and Maxine Carr to show that portrayals of women who are involved in killing exist on a continuum, from abused victims to those simply ‘born evil’ to the incomprehension of those whose crimes render them outside society altogether; or in simple terms, from sad, to bad, to mad. In all cases, the agency of the women is presented as incomplete or impossible, indicating our inability in heteropatriarchy to acknowledge that women are as capable as men of exhibiting the full spectrum of human behaviour. Denying agency, particularly to violent women, allows Western societies to avoid having to face and thus, attempt to understand, the female capacity for aggression.

This chapter provides a comprehensive survey of the contributions of the Austrian school of economics, with specific emphasis on post-WWII developments. We provide a brief history and overview of the original theorists of the Austrian school in order to set the stage for the subsequent development of their ideas by Ludwig von Mises and F. A. Hayek. In discussing the main ideas of Mises and Hayek, we focus on how their work provided the foundations for the modern Austrian school, which included Ludwig Lachmann, Murray Rothbard and Israel Kirzner. These scholars contributed to the Austrian revival in the 1960s and 1970s, which, in turn, set the stage for the emergence of the contemporary Austrian school in the 1980s. We review the contemporary development of the Austrian school and, in doing so, discuss the tensions, alternative paths, and the promising future of Austrian economics.