Individual irrationality and social welfare

Individual preferences inconsistent with personal welfare caused neither by ignorance nor by a positive consideration for the welfare of others are defined as (welfare) irrational. Sources of irrationality (rigid adherence to moral principles, excessive fear of danger, excessive tempetation of pleasure, revenge, inertia, faulty telescopic faculty, the fallacy of diminishing marginal utility of utility, etc.) are discussed. An evolutionary explanation of irrationality is suggested and some implications for individual decision and social policy indicated.I am grateful to two anonymous referees for comments.     

The utilitarian criterion,finite sensibility,and the weak majority preference principle

This study is a further analysis of the approach taken by Yew-Kwang Ng to derive the utilitarian criterion. Specific for the model is that individual preferences are finitely sensible. In this framweork an analysis of the consequences on social preferences when different kinds of value premises are imposed is made. It is found that the utilitarian criterion is the unique consequence only for very special choices of the value premise. In addition, uniqueness requires the underlying preferences be cardinal. It is also found that finite sensibility induces approximate cardinalization of preferences.I am grateful to Y.-K. Ng, two anonymous referees and an editor of this journal for helpful and constructive comments on earlier versions of this paper. The research was financially supported by the Swedish Council for Research in the Humanities and Social Sciences     

The Generalized Conditional Autoregressive Wishart Model for Multivariate Realized Volatility

It is well known that in finance variances and covariances of asset returns move together over time. Recently, much interest has been aroused by an approach involving the use of the realized covariance (RCOV) matrix constructed from high-frequency returns as the ex-post realization of the covariance matrix of low-frequency returns. For the analysis of dynamics of RCOV matrices, we propose the generalized conditional autoregressive Wishart (GCAW) model. Both the noncentrality matrix and scale matrix of the Wishart distribution are driven by the lagged values of RCOV matrices, and represent two different sources of dynamics, respectively. The GCAW is a generalization of the existing models, and accounts for symmetry and positive definiteness of RCOV matrices without imposing any parametric restriction. Some important properties such as conditional moments, unconditional moments, and stationarity are discussed. Empirical examples including sequences of daily RCOV matrices from the New York Stock Exchange illustrate that our model outperforms the existing models in terms of model fitting and forecasting.     

Predictors of Treatment Outcome Among Asian Pathological Gamblers (PGs): Clinical,Behavioural, Demographic,and Treatment Process Factors

Research on predictors of treatment outcome among pathological gamblers (PGs) is inconclusive and dominated by studies from Western countries. Using a prospective longitudinal design, the current study examined demographic, clinical, behavioural and treatment programme predictors of gambling frequency at 3, 6 and 12-months, among PGs treated at an addiction clinic in Singapore. Measures included the Hospital anxiety and depression scale, gambling symptom assessment scale (GSAS), personal well-being index (PWI), treatment perception questionnaire and gambling readiness to change scale. Treatment response in relation to changes in symptom severity, personal wellbeing and abstinence were also assessed. Abstinence rates were 38.6, 46.0 and 44.4 % at 3, 6 and 12-months respectively. Significant reductions in gambling frequency, GSAS, and improvement in PWI were reported between baseline and subsequent outcome assessments, with the greatest change occurring in the initial three months. No demographic, clinical, behavioural or treatment programme variable consistently predicted outcome at all three assessments, though treatment satisfaction was the most frequent significant predictor. However, being unemployed, having larger than average debts, poor treatment satisfaction and attending fewer sessions at the later stages of treatment were associated with significantly poorer outcomes, up to 1-year after initiating treatment. These findings show promise for the effectiveness of a CBT-based treatment approach for the treatment of predominantly Chinese PGs. Clinical implications and suggestions for future research are discussed. Taken together, the findings suggest early treatment satisfaction is paramount in improving short-term outcomes, with baseline gambling behaviour and treatment intensity playing a more significant role in the longer term.     

Constructing poverty in anti-welfare Singapore

In recent years, attention on the issue of poverty in Singapore has been increasingly placed in the spotlight. This study examines the various types of attitudes among Singaporeans and how they are formed, relating them to the broader institutional context of Singapore. A mixed method design is employed where clusters or groups of attitudes are derived through the use of cluster analysis. Subsequently, discourses of poverty and welfare attitudes are construed through qualitative interviews with the aid of Foucauldian Discourse Analysis. Quantitative findings point to three clusters of attitudes: ‘Conservatives’, ‘Liberals’, and ‘Sui Generis’. Qualitative findings, however, show that ‘Sui Generis’ ultimately align themselves closer to either ‘Conservatives’ or ‘Liberals’ in their discourses of welfare. In fact, respondents in all three clusters reproduce state discourses, albeit in varying ways. In essence, this study explicates poverty and welfare attitudes as a product of social identities premised on subjective notions that are shaped by state discourses of meritocracy, self-reliance and anti-welfarism. It is thus argued that current socio-political constructions of poverty ensue a paucity of major welfare reform in the near future of Singapore.     

Family support policies and child outcomes: a realist-scoping review*

Family support policies (FSP) refer to government policies that promote the well-being of families with children (e.g. job-protected paid leave, cash transfers, childcare). We developed an initial conceptual and theoretical framework of FSP and conducted a realist-scoping review to document the state of evidence regarding the influence of FSP on three child outcomes: poverty, development, and health. Based on the contexts and mechanisms through which FSP are hypothesized to affect child outcomes, we constructed a framework to guide a search of five electronic databases (OVID, ProQuest, PubMed, Scopus, and Web of Knowledge). We analysed articles meeting our inclusion criteria (i.e. conceptualized FSP as a function of the welfare state; conceptualized child poverty, development, and health as outcomes; and conducted empirical analyses) in relation to our mechanisms and thematic concerns (context, developmental periods, and differential impacts). A total of 22 studies met our inclusion criteria, which tested 25 independent child outcomes. Our findings identified initial mechanisms that explain the relationship between FSP and child outcomes through (1) increasing parents’ basic capabilities, (2) shaping parents’ childcare options, and (3) influencing parental leave-taking and shifting beliefs about gender relationships in the home and workplace. Future work will be to test these mechanisms and framework through a realist synthesis.     

Sick building syndrome and perceived indoor environmental quality: A survey of apartment buildings in Hong Kong

The outbreak of a highly communicable disease, SARS, in Asia in 2003 has revealed the health risk of living in a high-density environment. To show the important connection between human health and environmental quality, this study surveys the prevalence of sick building syndrome (SBS) among apartment residents and their evaluation of indoor environmental quality (IEQ). Based on a sample of 748 households living in Hong Kong, two interesting findings are revealed: (1) nasal discomfort was the commonest home-related SBS symptom despite the absence of any central ventilation system in apartment buildings; (2) noise, rather than ventilation, was the major IEQ problem perceived by residents. Our statistical analysis further showed that residents with SBS symptoms were less satisfied with their IEQ than those without. That is, despite a positive evaluation of specific IEQ criteria with respect to the building residents lived in, if they reported feeling SBS related symptoms, the overall IEQ evaluation of their building could still be negative. This perception bias gives rise to a sample selection problem in measuring perceived IEQ, which has implications on housing management practices and the formulation of a healthy housing policy.     

Linking Elderly to Holistic Care Services through Integrated Communication Technology: The Personal Emergency Link Service Rendered by the Senior Citizen Home Safety Association in Hong Kong

Through a Personal Emergency Link system, the Senior Citizen Home Safety Association has rendered 24-hour care to more than 111,000 service users in Hong Kong who are mostly vulnerable seniors and chronic invalids living alone or living with their elderly spouses/caregivers only. This article will describe how the Personal Emergency Link system is used to link seniors living in the community. Measures taken to prevent failure of the system will be described. With the use of different technology applications, many human touches and warm caregiving are rendered to the elderly and needy.     

Medicaid Home and Community-Based Services: How Consumer Access Is Restricted by State Policies

State Medicaid programs have expanded home and community-based services (HCBS). This article compares trends and variations in state policies for Medicaid HCBS programs in 2005 and 2010. State limitations on financial eligibility criteria and service benefits have remained stable. Although the use of consumer direction, independent providers, and family care providers has increased, some states do not have these options. The increased adoption of state cost control policies have led to large increases in persons on waiver wait lists. Access could be improved by standardizing and liberalizing state HCBS policies, but state fiscal concerns are barriers to rebalancing between HCBS and institutional services.     

Integrating psychometric and cultural theory approaches to formulate an alternative measure of risk perception

Psychometric and cultural theory are key approaches used to explain risk perceptions. However, both approaches explain only 20 and 5–10% of the variance of risk perceptions, respectively. Through advances in social psychology, terror management theory revealed that certain survey questions used in the psychometric approach primed thoughts of death. Such unintentional priming evoked defense mechanisms that would subconsciously activate participants’ cultural biases and values when answering some questions but not others. There are two implications: one, psychometric theorists need to modify their questionnaires to reduce the incidence of priming thoughts of death; and two, integrating the psychometric and cultural theory approaches may potentially explain a higher amount of variance in risk perceptions. Specifically, attitudes (psychometric approach), demographics, affect and past behavior collectively influence cultural biases, which in turn exert an effect on risk perception. However, such a model calls for an appropriate measure of the dynamic nature of cultural biases that current attitudinal measures fall short of. Drawing from methodology within industrial/organizational psychology, the Situational Judgment Test (SJT) is proposed as an alternative measure for risk perception. Steps to designing an SJT are outlined and followed through to culminate in a 10-item SJT that measures cultural biases.