Search

The article presents a study which explores how the two-parameter alpha/beta model help in identifying the predictive power of price momentum. It also examines the value of computed alphas as predictors of future price performance by ranking a universe with alpha and examining subsequent price performance. The study found out that recent price momentum basis outperformed the universe by significant levels in six-month holding periods and that the significant gains come from the use of exponentially decaying weight generalized least squares. The results suggest that price momentum is useful in forecasting for issues that show extreme strength and weakness, on a properly current-beta adjusted basis.

Economics is a discipline that deals with the efficient allocation of scarce resources. It represents a way of thinking and provides a systematic approach to rational decision making. While economics cannot determine which alternative should be selected, it can determine which alternative represents the most efficient use of resources. Other considerations moral, social, ethical must then be incorporated to decide if the most efficient use is also socially acceptable. The role of economics in health care has never been fully defined or totally accepted.

Increasingly, telecommunications and advanced information technologies are being used for a variety of activities: clinical, administrative, and education/research. These activities are undertaken with the expectation that health care delivery will be improved. To validate this expectation, a number of investigations have been undertaken to assess the effectiveness and efficiency of the activities. Unfortunately, many of these investigations have either been incomplete or have applied inappropriate techniques in the evaluation process. This is especially true in the attempts to evaluate the cost effectiveness of various telecommunication technologies and service delivery. The model presented here provides a systematic framework that can be used in evaluating the effectiveness, efficiency, and feasibility of telemedicine. The model delineates the different aspects and characteristics of an evaluation across three dimensions-focus (cost, quality, access), level (individual, community, society), and activities (clinical, administration, education/research). These dimensions are interrelated, making comprehensive evaluation difficult.