Parametric discounting

A parametric approach to the problem of selection from amongst alternative investment opportunities is considered in a discounted cash flow framework. The approach employs differential cash flows, an uncertain planning horizon and a nested approach to composing cash flow parameters. This promotes consistent treatment of alternative investments, clarifies the effects of uncertainty, avoids some of the defects of internal rate of return and payback period criteria and allows direct comparison of best and next best options as primal and dual versions of the same model. Net present value, internal rate of return, annual average cost or payback period assessments may be selected post analysis. A domestic wall insulation example is used for illustrative purposes. This example is related to the hydroelectric power development decision which gave rise to the approach.     

Labor force participation and family formation: A study of working mothers

Drawing upon a sample of 638 mothers aged 18 to 40, with at least some marital work experience, significant associations were found between the extent, kind, and timing of employment and a series of family formation variables. Generally lower fertility, longer first birth intervals, and earlier use of birth control were associated with the longest work durations, the highest status jobs, and work before the birth of the first child. The data failed, however, to differentiate desired family size.     

Chapter 11’s invisible men

Chapter 11 can be thought of as a Ring of Gyges, protecting corporate executives from past or prospective misdeeds and missteps. The Manville Case is an example.     

THE METRICS OF STYLE: ADAM SMITH TEACHES EFFICIENT RHETORIC

Does style matter for economic writing? Several stylistic characteristics of ninety-seven AEA presidential addresses, including word length, sentence length and percent of sentences in the passive voice, were computed and used to explain citations to these economists' work. Avoidance of the passive is an old stylistic norm given by Adam Smith. Word length and sentence length serve as modern stylistic norms. Only the percent passive matters to explain citations. Perhaps not coincidentally, while writing clarity in our data set has declined over time when measured by the new norm, it has improved when measured by the old norm.     

Identity and Ideas: A Roundtable on Identity Politics

This roundtable discussion examines the issue of identity politics and how identity influences and is influenced by gay/queer politics and theory. The participants discuss how identity politics affects political organizing and activism, how different identity communities can build coalitions, how the language related to identity is evolving, and how sexual attractions and practices interact with identity. The discussants look at how the influx into the gay and lesbian movement of new groups that challenge traditional identity boundaries—e.g., bisexuals and transgendered people—is affecting the movement. Finally, the discussants examine how “idea-based” politics may supplant identity-based politics as a new inclusive paradigm.