Demand For Advice Research Articles

Entrepreneurs on their financial literacy: evidence from the Netherlands

ABSTRACT Using a representative survey of Dutch entrepreneurs and self-employed individuals, (i) we measure their subjective financial knowledge and the extent to which they ask for advice when managing their companies, and (ii) we examine whether subjective financial knowledge and the demand for advice are related to the firm economic performance. We find that the respondents feel more comfortable with accounting subjects than they do with strategic ones, of which they feel that they know the least. Entrepreneurs with a greater extent of financial knowledge are more likely to report a higher gross margin and higher revenue growth for their firm. These entrepreneurs are also less likely to seek advice and to delegate financial decisions. Seeking professional advice does not increase the likelihood of an entrepreneur having better performance. Our results suggest that entrepreneurs’ degree of financial knowledge is related to the success of their businesses, while seeking advice is not significantly correlated with better firm performance.

New Evidence on the Demand for Advice within Retirement Plans

New Evidence on the Demand for Advice within Retirement Plans

How Crop–Livestock Clinics Are Advancing One Health: A Pilot Case from Uganda

Summary Crop and livestock health are crucial to agricultural productivity and farmers’ livelihoods. However, in low-income countries, farmer advisory services tend to be permanently short of funding and staff, leaving the majority of smallholders underserved. CABI’s work with plant clinics has revealed potential ‘One Health’ benefits of broadening the scope of the plant clinics to better meet farmers’ demands for advice. This case shows how a team from different disciplines and sectors co-created a new type of farmer advisory service in Uganda: a ‘plant and livestock clinic’ (consultation centre). These joint clinics represent an innovation in farmer service delivery using existing organizational structures and capacities. This case explores the results and lessons learned from the first pilot year. The joint clinics add value to the One Health offer in several ways: (i) crop and livestock staff are able to share operational costs, knowledge and insights in a way that they would not normally be able to do; (ii) plant and livestock consultations in the same place save time for farmers and provide opportunities for cross-learning – farmers ‘hang around’ to hear the advice other farmers receive and exchange information with one another; (iii) joint clinics are an entry point to improving referral systems and targeting delivery of technology such as animal vaccines and clean cassava cuttings; and (iv) crop–livestock clinics provide an avenue for finding out what farmers know and don’t know about One Health issues – crucial information to design solutions. The case also examines the opportunities for furthering crop–livestock clinics as an entry point to advance One Health. The logo for the Coat of arms of Uganda. The logo has a shield with two spears. The shield is situated between a deer and a bird. The text For God and My Country is present at the bottom. A logo titled C A B I. A logo for biovision with the logo of the African continent. What is the incremental value that makes this a One Health case? The case shows the transdisciplinary process of co-developing a new type of integrated, cross-sectoral health service for smallholder farmers. The pilot intervention explores opportunities for adding value to existing crop and livestock service delivery in terms of coverage, cost savings, cross-learning among farmers and service providers, and targeted delivery of knowledge and technology. Information This case is based on results and lessons learned from the first year of a CABI-led project: ‘Joint crop–animal services for smallholder farmers in east Africa: exploring ‘One Health’ benefits, operations and lessons for scaling out’. © The Authors 2022

New Evidence on the Demand for Advice within Retirement Plans

New Evidence on the Demand for Advice within Retirement Plans

The Demand for Advice: Theory and Empirical Evidence from Farmers in Sub-Saharan Africa

Abstract Low levels of investment into modern technologies, and limited use of measures that have low monetary cost but the potential for high yields, are often regarded as obstacles to further agricultural development. This paper investigates farmers’ demand for one such measure, namely agricultural advisory services. These have modest (most frequently zero) monetary user cost but, according to some recent research, have the potential to result in large increases of yields. Yet demand for these extension services is often low. We propose that costly attention may be part of the explanation for this. In our model, advisory services are available free of charge, but positive effects on production are only realized if farmers devote attention to listening to and implementing the provided advice. Modeling farmers as rational decision makers facing scarce attention, we identify the circumstances under which farmers may optimally abstain from demanding advisory services. The model complements the insights of other theories commonly used to explain suboptimal farm decisions and outcomes, and generates testable predictions, which are consistent with empirical evidence based on a large farm-level panel dataset from Sub-Saharan Africa.

Computational Models That Matter During a Global Pandemic Outbreak: A Call to Action

The COVID-19 pandemic is causing a dramatic loss of lives worldwide, challenging the sustainability of our health care systems, threatening economic meltdown, and putting pressure on the mental health of individuals (due to social distancing and lock-down measures). The pandemic is also posing severe challenges to the scientific community, with scholars under pressure to respond to policymakers’ demands for advice despite the absence of adequate, trusted data. Understanding the pandemic requires fine-grained data representing specific local conditions and the social reactions of individuals. While experts have built simulation models to estimate disease trajectories that may be enough to guide decision-makers to formulate policy measures to limit the epidemic, they do not cover the full behavioural and social complexity of societies under pandemic crisis. Modelling that has such a large potential impact upon people’s lives is a great responsibility. This paper calls on the scientific community to improve the transparency, access, and rigour of their models. It also calls on stakeholders to improve the rapidity with which data from trusted sources are released to the community (in a fully responsible manner). Responding to the pandemic is a stress test of our collaborative capacity and the social/economic value of research.

The demand for advice at the European Union level: policy advice politicization in the European Commission

ABSTRACTThe study focuses on the role of policy advice brokers – political advisors – pertaining to the issue of politicization in the European Commission (EC). The study conceptualizes politicization as increased use of political advisors – known as “cabinets” in the EC context – by the Commissioners to ensure political direction over the work of the civil service. Commissioners’ private cabinets fulfil several functions, one of which is political steering of the policy work in the departments. The study argues that as a result of the NPM-style reform and strengthening of the civil service accountability to the political level, the political steering function of the cabinet advisors grew in importance. To examine whether the political steering function of cabinets became more important after the reform, the study analyzed the lists of cabinets’ responsibilities available online from the Prodi to the Junker Commissions. The content of the lists of responsibilities was first coded and then statistically analyzed testing for the effect of the reform on the structure of cabinets’ responsibilities.

The Demand for Advice in Defined Contribution Pension Plans: Age, Gender, and the Size-of-Bet Effect

Defined contribution (DC) or money purchase pension saving schemes place the onus on participants to make decisions on asset allocation, the choice of investment vehicles, and the extent to which changes in individual circumstances and macroeconomic conditions should affect investment strategy. Many people are ill-equipped to make these types of decisions. The role of third-party advisers is quite problematic, particularly when their incentives are inconsistent with the interests of those that seek advice. In this paper, we report the results of a comprehensive study of the advice sought by Australian DC participants from their plan sponsors (agent) over time, explaining observed patterns by reference to participants’ age and gender, the salience of the issue, and the size-of-bet effect. The mode of inquiry, the frequency and volume of contact by plan participants, and the sensitivity of participants to announced changes in the national pension regime and macroeconomic events are also considered. Whereas research on this topic has focused upon fee-for-service advisers, we focus upon the advice provided by the agent of DC plan sponsors that has no direct interest in the outcome of calls or web-based inquiries. Analysis takes in approximately 430,000 Australians over the period 2004 to 2013.

When can “principles” support advice on fisheries and environmental management?

Abstract Jennings, S. 2013. When can “principles” support advice on fisheries and environmental management? – ICES Journal of Marine Science, 70: 726–733. Demands for advice on fisheries and environmental management often outstrip scientists' capacity to supply it. The imbalance would be smaller if some of the advice could be based on principles rather than tailored case-by-case analyses, where I define principles as “evidence-based rules that underpin scientific advice on management options and reduce uncertainty about decisions and outcomes with fewer resources than tailored case-by-case analyses”. I consider the role, development, existing and potential uses, strengths and weaknesses of principles in underpinning advice, and how principles might complement methodological innovations and risk assessment. The extent to which principles might replace case-by-case analyses is expected to depend on structures and processes in the management system, particularly the treatment of uncertainty and risk. If advice based on principles is seen as less salient, credible, and legitimate than advice developed from case-by-case analyses then this could lead to political push-back or non-compliance with management measures, transferring costs from the advisory process to other parts of the management system. In general, I propose that principles provide the greatest benefits in a management system when they address complex advisory issues that lead to advice on management measures with relatively small social and economic consequences or when they simplify parts of an advisory process leading to management measures with a range of consequences. Notwithstanding limits on their application, further development and uptake of principles could reduce demands for case-by-case advice on fisheries and environmental management. A formalized challenge, testing, and updating process for principles, supported by an audit trail, would encourage and increase their use. The development of principles would provide a new focus for the targeting, review, and uptake of research. Spatial planning initiatives, the emergence of marine protected area networks, and other changes in management measures can be treated as experiments to inform development and testing of principles.

The Value of Advice: Evidence from Mobile Phone-Based Agricultural Extension

We examine the role of management in agricultural productivity, by evaluating a mobile-phone based agricultural advice service provided to farmers in India. Demand for advice is high; and advice changes practices, increasing yields in cumin (28%) and cotton (8.6%, for a sub-group receiving reminders). Information spreads, as non-treated farmers with more treated peers change practices and lose less to pest attacks. Though willingness to pay for the service is low, the value of the information externality exceeds the subsidy that would be necessary to operate the service. We estimate each dollar spent on the service yields a $10 private return.

Building blocks for real-time advice and information for social care and housing

AbstractOver the last few years the need and demand for advice and information in the area of social care and housing has gained unprecedented momentum and been an integral part of numerous policy papers and reports. The need for good quality, trusted and reliable advice, and information in an area, which most citizens and even care and housing professionals find too complex to navigate is undeniable. It is not surprising when you consider the social care system is made up of a labyrinth of guidance, rulings, directions, and legislation dating back to 1948. Government departments and policy-makers have committed more than a few words to what future advice and information should look like. However is reinventing the wheel necessary? There already exists excellent examples of advice, information, and support at its best; FirstStop Advice, Find Me Good Care, and My Support Broker are just three which if developed and harnessed together would readily fulfil the need and bring policy think into reality. The co...

Advising beef-cattle farmers: Problem-finding rather than problem-solving. Characterization of advice practices in Creuse

French farms have to adapt quickly in an economic and social context that is in profound change. For this, advice procedures must themselves be reconsidered. The aim of this work was to characterize the advice practices in beef-cattle systems in Creuse and define farmers' and advisers' requirements according to future methods of providing advice. Surveys were carried out with both farmers and advisers, which permitted the simultaneous analysis of supply and demand of advice. This analysis showed that the expression of the demand which concerns not only the interaction with the farmer but also the problem-making, is the most critical step of the action of advice. Existing methods of advice are shown not to be operational in building up demand for advice. They do not enable advisors to consider farm changes as processes, nor do they give a global vision of farmers' needs and requirements in terms of the dynamic evolution of their breeding system. New methods should include support materials for discussion and reflection to help farmers to adapt their production systems to strategic problems.

Online consulting service for eating disorders—analysis and perspectives

The analysis of the use of a free online consulting service for eating disorders at the German “Information and Consulting Server for Eating Disorders” ( http://www.ab-server.de) revealed that there exists a considerable demand for advice and information. The anonymity of the Internet supports those persons affected with an eating disorder, who turn to qualified personnel in the sense of a first contact. The online consulting service was predominantly used by persons suffering from bulimia nervosa, their families, and friends. The most frequent questions were asked by affected persons, their families, and friends about behavior patterns in dealing with the illness. They were followed by inquiries seeking for help in finding specialized clinics/therapists and places in therapies. The frequent use of the online consulting service illustrates that respective offers are indispensable components not only of the information structure but also of the supply network. To increase the efficiency of the existing online consulting service it is necessary to realize the service in a consulting network with competent partners (specialized clinics, organizations, self-help groups). Furthermore, a service for procurement of available places in therapies for patients with eating disorders will be installed by network and cooperation structures. The online consulting network as well as the therapy procurement network in Germany are available to the public on the web-site of the ab-server.

Future Strategies for Private Wealth Management

In the past, only the ultra wealthy sought investment advice, and when they did, they went to Wall Street firms. Today, more households have more money, and they are looking for guidance from a number of providers on how to invest their wealth. With this change in clientele, namely the rise of the mass affluent and the engaged investor, firms stand to benefit from a surge in the demand for advice but must be careful not to overload investors with information; the use of technology will be pivotal in servicing this growing segment of the market.

Prozac, Enhancement, and Self-Creation

Marina's history is notable for significant childhood neglect. After her parents split up when she was four, her father became distant and mostly uninvolved and her mother suffered from depression and a borderline case of alcoholism. Although involved in Marina's day-to-day life, she was inconsistently available on an emotional level. Because Marina was the oldest child and apparently her shit together, she was often called on to help out with her younger sister and two brothers, who had a variety of problems ranging from depression to juvenile delinquency to significant obsessive-compulsiveness. Due to the distraction of other family members' more dramatic struggles, many of Marina's own needs were never met. However nurturing this parentified child was, she never felt nurtured. Although by her own account she had a troubled adolescence--doing less well than she wanted in school, flirting with drug use and reckless sexual encounters--she managed to get accepted to a good university. Settling down considerably, she excelled in college and got into a top business school, where she continued her academic success. Throughout this period, her primary source of emotional sustenance came from several close friendships. Although these relationships were generally strong, Marina sometimes bristled from perceived putdowns and betrayals by those she held dear. Her family's demands for advice and assistance persisted, but coming to understand how her overreaching family oppressed her, she established some reasonable boundaries with her mother and siblings, an achievement made easier by living in a different city. Her romantic life she considered a failure. Her intense work ethic afforded little time for dating, and the men she wound up with tended to be distant, rejecting, and sometimes emotionally abusive. Marina has also always been somewhat obsessional. She has been disturbed by thoughts about death since adolescence and overly concerned with the possibility of tragedy befalling her or her family, although these thoughts occur fleetingly and do not disrupt her functioning. For many years, her recurring sexual fantasies have featured powerful older men. She is troubled and disgusted with herself when these fantasies drive her to consume late-night hours pursuing the half-hearted titillation of sex-oriented internet chat rooms. As she approaches age thirty, Marina is rather successful in nearly everyone's estimation: She is a well-paid manager for a large computer company, she has close friends, and she has several pastimes that she genuinely enjoys (especially bicycling and guitar). Yet Marina finds herself brooding and pensive, wondering about her life and its direction. She seeks out a psychiatric consultation, which takes place over four sessions, and accepts the psychiatrist's conclusion that she has no diagnosable disorder. When he suggests that psychotherapy might nevertheless be of help to her, she is inhibited by the prospect of paying for many sessions out of pocket (since her HMO will not cover them). Still, she wants changes. At work, she feels overly tentative, unsure, too prone to worry about possible errors. In her social life, she hates how she endlessly interprets the latest transactions with friends and the way she is attracted to men who are bad for her. She feels alienated by her obsessional thoughts, considering them ridiculous and bothersome even if not very harmful. After extended periods of introspection, fueled by her impending birthday and the discussions that took place in the psychiatric consultation, Marina decides that she wants to become more outgoing, confident, and decisive professionally; less prone to feelings of being socially excluded, slighted, or unworthy of a good partner; and less obsessional generally. She calls the psychiatrist who provided the consultation, whom she likes, and explains that she has heard that Prozac sometimes produces transformations like the ones she seeks--and more quickly and less expensively than could be expected from therapy. …

Private versus Socially Optimal Provision of Ex Ante Legal Advice

This article considers whether the demand for legal advice about potential liability for future acts is socially excessive. using the standard model of accidents, we find that the answer depends on the type of advice and the form of liability. When advice provides information about properly determined liability, the demand for advice is socially optimal under strict liability but is socially excessive under the negligence rule. When advice identifies errors the legal system is expected to make, the demand for advice is socially excessive under both liability rules.

The Italian AIDS ‘hot-line’: Providing information to the people

The Italian AIDS hot-line has recently completed its first two operational years. Established as an emergency service, it was initially overloaded with calls, under the emotional impact of a new disease. As the average number of calls settled to around a hundred per day, a wider approach aimed at the concerns raised by callers has been possible. A particular effort has been made to handle psychological and social aspects of HIV infections. A large proportion of the questions analyzed (62,500) deal with doubts about transmission (30%), reliability of diagnostic tests (15%), and handling individual situations. Some categories of callers, such as drug users, parents or relatives of HIV-infected people, and seropositives often require experienced telephone counselling. HIV-positive callers follow the proportional distribution of AIDS cases in Italy: intravenous drug users forming the majority, followed by homosexuals and finally heterosexual subjects (reaching 10%, a value in accordance with trend projections). The demand for advice has increased over time, together with an evident refinement of question content.

Effects of Grass Silage Quality and three Levels of Flat Rate Concentrate Feeding to upland Ewes in the Last Trimester of Pregnancy upon Voluntary Food Intake

With increasing flock sizes and the uncertainty of the hay-making process, silage has a part to play as the basal diet of Greyface type ewes during the latter half of pregnancy. Silage also varies considerably in feeding value and there is a demand for advice upon the contribution which grass silage can make to the diet, and also what level of concentrate feeding should be associated with any given silage. Silage is commonly subjected to a number of laboratory analytical procedures to provide estimates of:ME, D value, amonia nitrogen, dry matter, crude protein, pH and MAD fibreThe present series of feeding experiments sets out to provide evidence about the voluntary intake of a range of silages by ewes in late pregnancy and to examine any relationships which would help in predicting intake from laboratory analysis.

Psykiatrisk Misbrugsforskning I Danmark 1983–84

A questionnaire sent to all 102 administrative psychiatric treatment and research units in Denmark was replied to by 97%. It showed that from January 1983 to December 1984 24% of these units were active in research of abuse. Forty-five investigations were reported, including 19 already published. An increasing research activity within the field has been found. In 98% of the investigations the subject was alcohol abuse and in 13% drug abuse. Eighty per cent of the studies were within psychiatry, 44% within sociology, and 44% in epidemiology. In particular, sociologists and statisticians were wanted as co-workers. This study shows a pronounced demand for advice which might be supplied by a psychiatrically conducted institute of abuse.