Generic Identifiability of Linear Structural Equation Models by Ancestor Decomposition

Linear structural equation models, which relate random variables via linear interdependencies and Gaussian noise, are a popular tool for modelling multivariate joint distributions. The models correspond to mixed graphs that include both directed and bidirected edges representing the linear relationships and correlations between noise terms, respectively. A question of interest for these models is that of parameter identifiability, whether or not it is possible to recover edge coefficients from the joint covariance matrix of the random variables. For the problem of determining generic parameter identifiability, we present an algorithm building upon the half‐trek criterion. Underlying our new algorithm is the idea that ancestral subsets of vertices in the graph can be used to extend the applicability of a decomposition technique.     

Ein metrikbasierter Ansatz zur Messung der Aktualit?t von Daten in Informationssystemen

Due to the importance of using up-to-date data in information systems, this paper analyzes how the data quality dimension currency can be measured. Therefore, we design a probability based metric that allows for an objective and to a great extent automated assessment of data’s currency. In contrast to existing approaches, the resulting values of the new metric meet important requirements such as ratio scale and can be interpreted as probabilities. Hence, they can also be applied to calculate expected values for decision making in a methodically well-founded manner. Moreover, the metric can be adapted to the context of a particular application considering both, the specific characteristics of attribute values and supplemental data stored in the information system. The evaluation of the approach is based on six requirements for data quality metrics. Furthermore, the case of a mobile services provider illustrates the metric’s applicability and its practical benefit.     

MORAL HAZARD AND CAPITAL STRUCTURE DYNAMICS

We base a contracting theory for a startup firm on an agency model with observable but nonverifiable effort, and renegotiable contracts. Two essential restrictions on simple contracts are imposed: the entrepreneur must be given limited liability, and the investor's earnings must not decrease in the realized profit of the firm. All message game contracts with pure strategy equilibria (and no third parties) are considered. Within this class of contracts/equilibria, and regardless of who has the renegotiating bargaining power, debt and convertible debt maximize the entrepreneur's incentives to exert effort. These contracts are optimal if the entrepreneur has the bargaining power in renegotiation. If the investor has the bargaining power, the same is true unless debt induces excessive effort. In the latter case, a nondebt simple contract achieves efficiency—the noncontractibility of effort does not lower welfare. Thus, when the noncontractibility of effort matters, our results mirror typical capital structure dynamics: an early use of debt claims, followed by a switch to equity‐like claims. (JEL: D820, L140, O261)     

The savings behavior of temporary and permanent migrants in Germany

This paper examines the relative savings position of migrant households in West Germany paying particular attention to differences between temporary and permanent migrants. Our findings reveal significant differences in the savings rates between German natives and immigrants. If remittances are treated as savings, however, migrants who intend to return to their home country save significantly more than comparable natives. The results of a decomposition analysis indicate that slightly more than half of the differences in the savings rate between Germans and permanent migrants and almost 70% between temporary and permanent migrants can be attributed to differences in observable characteristics.     

How do study satisfaction and academic performance interrelate? An investigation with students of Social Work programs

An investigation of study satisfaction and academic performance in the study of Social Work is reported (N=514). The results show that satisfaction (a scale based on 13 items) and performance (undergraduate course marks) hardly correlate with each other (r=?0.05) and are influenced by different variables. Whereas study satisfaction is determined by ‘noncognitive’ factors such as motivation and course organization, academic performance is influenced by ‘cognitive' factors such as final school grade and students' learning behavior. Satisfied and/or successful students are more motivated to complete their course of study within the regular period and to work later as social workers. Vocational training or a university degree before studying Social Work does not affect satisfaction or performance. The findings are discussed in relation to optimal study management and selection criteria.     

Containment im Coaching

The psychodynamic concept of containment in coaching describes a process where the coach takes on, digests and returns emotional tension, unresolved conflicts und unconscious acting out of the coachee. Using two case studies the article develops the basic elements of containment in coaching. In addition to this interpersonal dimension of containment the article also highlights the structural dimension of containment — to provide sufficient space and conditions for thinking and processing emotional turmoil.     

Deservingness put into practice: Constructing the (un)deservingness of migrants in four European countries

The increased comparative research on perceptions of public welfare deservingness studies the extent to which different subgroups of citizens are deemed worthy or unworthy of receiving help from the welfare state. The concept of deservingness criteria plays a crucial role in this research, as it theorizes a universal heuristic that citizens apply to rank people in terms of their welfare deservingness. Due to the mainly quantitative nature of the research and despite the indisputable progress it has made, the subjective existence and actual application of these deservingness criteria remain a bit of a black box. What criteria of deservingness do citizens actually apply, and how do they apply them? This article opens the black box of welfare deservingness and sheds light on the nature and practice of deservingness criteria. Empirically, the paper explores how the deservingness of immigrants is discussed and established within 20 focus groups conducted in Slovenia, Denmark, UK, and Norway in 2016 with a total of 160 participants. All 20 focus groups discussed the welfare deservingness of immigrants based on similar vignette stimuli. Our analysis shows that (1) deservingness criteria are used both to construct images of target groups and as normative yardsticks; (2) deservingness criteria do not work independently of each other, but rather co-function in specific hybridized discourses; and (3) the moral logic of deservingness is supplemented by alternative moral logics, at least in the case of migrants.     

An extension of the Blinder–Oaxaca decomposition to nonlinear models

This paper develops a general Blinder–Oaxaca decomposition that allows the differences in an outcome variable between two groups to be decomposed into (i) a part that is explained by differences in observed characteristics and (ii) a part attributable to differences in the estimated coefficients also for nonlinear regression models. Based on this general model, we show how it can be applied to different models with discrete and limited dependent variables.     

A SINful approach to Gaussian graphical model selection

Multivariate Gaussian graphical models are defined in terms of Markov properties, i.e., conditional independences, corresponding to missing edges in the graph. Thus model selection can be accomplished by testing these independences, which are equivalent to zero values of corresponding partial correlation coefficients. For concentration graphs, acyclic directed graphs, and chain graphs (both LWF and AMP classes), we apply Fisher's z-transform, Šidák's correlation inequality, and Holm's step-down procedure to simultaneously test the multiple hypotheses specified by these zero values. This simple method for model selection controls the overall error rate for incorrect edge inclusion. Prior information about the presence and/or absence of particular edges can be readily incorporated.     

Welfare, labor supply and heterogeneous preferences: evidence for Europe and the US

Following the report of the Stiglitz Commission, measuring and comparing well-being across countries has gained renewed interest. Yet, analyses that go beyond income and incorporate non-market dimensions of welfare most often rely on the assumption of identical preferences to avoid the difficulties related to interpersonal comparisons. In this paper, we suggest an international comparison based on individual welfare rankings that fully retain preference heterogeneity. Focusing on the consumption-leisure trade-off, we estimate discrete choice labor supply models using harmonized microdata for 11 European countries and the US. We retrieve preference heterogeneity within and across countries and analyze several welfare criteria which take into account that differences in income are partly due to differences in tastes. The resulting welfare rankings clearly depend on the normative treatment of preference heterogeneity with alternative metrics. We show that these differences can indeed be explained by estimated preference heterogeneity across countries—rather than demographic composition.