This article examines UK University Vice Chancellors (VC) pay awards. Theempirical analysis, covering the period 1997–2002, evaluates the impact uponVC pay awards of university performance measures, internal pay comparisonsand two external pay comparisons, that is, the pay of other VCs and the...

Logistic regression analysis can provide an estimate of the odds ratio (OR), adjusted for a number of confounders. It is known that it is approximately equal to the associated adjusted relative risk (RR) if the incidence of an outcome of interest is rare in a cohort study or a clinical trial...

Investors in a market frequently update their diverse perceptions of the values of risky assets, thus invalidating the classic capital asset pricing model's (CAPM) assumption of complete agreement among investors. To accommodate information asymmetry and belief updating, we have developed an...

The multinomial logit model in discrete choice analysis is widely used in transport research. It has long been known that the Gumbel distribution forms the basis of the multinomial logit model. Although the Gumbel distribution is a good approximation in some applications such as route choice...