Preference stability and substitution of indifferents: a rejoinder to Seidenfeld

Seidenfeld (Seidenfeld, T. [1988a], Decision theory without 'Independence' or without 'Ordering', Economics and Philosophy 4: 267-290) gave an argument for Independence based on a supposition that admissibility of a sequential option is preserved under substitution of indifferents at choice nodes (S). To avoid a natural complaint that (S) begs the question against a critic of Independence, he provided an independent proof of (S) in his (Seidenfeld, T. [1988b], Rejoinder [to Hammond and McClennen], Economics and Philosophy 4: 309-315). In reply to my (Rabinowicz, W. [1995], To have one's cake and eat it too: Sequential choice and expected-utility violations, The Journal of Philosophy 92: 586-620), in which I argue that the proof is invalid, Seidenfeld (Seidenfeld, T. [2000], Substitution of indifferent options at choice nodes and admissibility: A reply to Rabinowicz, Theory and Decision 48: 305–310 this issue) submits that I fail to give due consideration to one of the underlying assumptions of his derivation: it is meant to apply only to those cases in which the agent's preferences are stable throughout the sequential decision process. The purpose of this note is to clarify the notion of preference stability so as meet this objection.     

A rejoinder to "The impact of infectious diseases on remittances inflows to India"

We argue that the volume of remittances sent home by migrants is influenced by the exogenous likelihood that the duration of their migration will be cut short. A higher probability of reverse migration, brought about by the collapse of jobs in the wake of COVID-19, made migrants attach greater importance to the creation of a social and economic environment in their places of origin that can support them when they return. There are several ways in which this can be done. One is by instilling gratitude. When bigger remittances are responded to by greater gratitude, the support will be bigger. An impact of the COVID-19 pandemic on migrants’ perceived duration of their migration is an increase in the uncertainty of the duration. The good will of migrants’ families and communities at origin is a form of insurance. A standard response to uncertainty is to take out insurance, and when uncertainty is higher, insurance is more valuable, and there is a tendency to acquire more of it. As it happens, the link between the volume of remittances and the likelihood of return migration does not feature at all in Shastri’s (2022) paper, nor for that matter in related writings by the World Bank and the IMF. The purpose of this rejoinder is to draw attention to this link, inducing students of migrants’ remittances to explore the link.     

The hyperbolic factor: A measure of time inconsistency

Many studies have found that discounting is hyperbolic rather than constant. Hyperbolic discounting induces time-inconsistent behavior and is becoming increasingly popular in economic applications. Most studies that provide evidence in favor of hyperbolic discounting either are merely qualitative or they depend on assumptions about, or parametric fittings of, utility functions. This paper provides a quantitative measure for the degree of deviation from stationarity and the induced time-inconsistency that can overcome the problems mentioned. This measure, the hyperbolic factor, also provides simple preference foundations of the most popular discount functions. Moreover, it can easily be calculated from data and does not require knowledge of utility. Thus, the hyperbolic factor provides an easy tool for theoretical preference foundations, critical empirical tests, and quantitative measurements of hyperbolic discounting.     

A model of the inflationary process in six major O.E.C.D. economies: Empirical results and policy implications

In contrast to most recent empirical work on inflation which has concentrated on the size and stability of coefficients in the wage equation, this paper provides a reexamination of the price equation. Evidence is presented on the structural determinants of inflation in six large industrial nations. It is demonstrated that price equations which include capital costs and excess demand among the regressors perform exceedingly well according to the usual statistical criteria. The results of this study indicate that the inflationary process possesses a high degree of uniformity among the larger industrial countries. This pertains not only with respect to the specific independent variables in price equations, but also with respect to the high degree of uniformity of the estimated coefficients. Additionally, the findings indicate that lower productivity growth and higher capital costs have contributed significantly to the inflationary process since 1974. Furthermore, since higher capital costs are one consequence of tighter monetary policies, the adoption of such policies in response to the two oil price shocks of the 1970s may have offset their intended deflationary effects on prices through the linkage of wage costs and aggregate demand.     

Determinants of deglobalization: A hierarchical model to explore their interrelations as a conduit to policy

The world is moving towards the deglobalization era, and industrialized economies have marked its beginning. The present study aims to identify the interaction among the selected determinants that have brought the paradigm change. Numerous studies have been done to explore the determinants that have brought globalization; however, a few research pieces have been conducted to analyze the reasons behind the people’s displeasure after globalization. The contemporary study attempts to fill the above gap by studying the interplay among the determinants leading to the deglobalization process. We have used the modified total interpretive structural modeling to explore the relationship between the determinant that led to deglobalization. Incorporating polarity in TISM modeling has refined the model and made it more explanatory. The developed model is a novel initiative in studying the determinants that have led to the deglobalization process. In addition to it, we have also examined how the rising skepticism against globalization influences countries’ policy formation.     

中华人民共和国和美国的中国学研究:50年

美国的当代中国学研究作为一个领域,大约与中华人民共和国同龄。在第二次世界大战以前,美国曾有几所大学开设研究中国古文的入门课,当时被称作汉学,但是开设中国现代史课的大学却寥寥无几,更不用说讲授当代社会科学了。直到1 949年中国共产党建立政权之后,美国政府、基金会和学术机构才开始重视发展当代中国研究的必要性。在这方面,福特基金会决定出资30 0 0万美元用于建设东亚研究领域起了关键性的促进作用;同样,《国防教育法》决定对学习所谓“重要语言”(包括现代汉语)的学生颁发政府奖学金也对这一领域的发展起了推动作用。然而,中华人…     

The first interview as a guide to treatment 1

Abstract

This article is based on an exploratory study that examines clinical workers’ reactions to assault by a client within an established treatment relationship. Findings indicate that client assaults experienced as traumatic result in psychological processes and stages of resolution similar to those experienced by other victims of assault. The primary difference is fewer long‐term personal effects. Professional effect is significant and influences workers’ relationships with clients and their views of themselves as clinical workers. Long‐term positive professional effects are noted, and interviewed workers provide insight and advice for all who work with violent clients.     

A cultural model of pregnancy: a comparison between Mexican physicians and working-class women in Tijuana,B.C.

At the time this research was conducted, it was reported that a significant percentage of women in Tijnana, B.C. (18.6%) who gave birth in a hospital did so having had little or no prenatal care [Núcleo Regional para el Desarrollo de Sistemas de Salud (NUREDESS) 1993]. Why does this underutilization of prenatal care occur? Frequently, explanations for health-seeking behavior among poor and working-class Mexican women tend to focus on cultural beliefs. This research examined the accuracy of such a cultural explanation by discerning the cultural model of prenatal care of a group of working-class Mexican women and comparing it to the biomedical model, as represented by a group of Mexican physicians. The results demonstrate that both groups actually share a similar model of prenatal care, one rooted in biomedicine. Therefore, it is important to consider broader, structural and economic variables as key factors that influence prenatal health care behavior.