The Texaco racial discrimination case and shareholder wealth

We analyze the wealth ejfects of the Texaco racial discrimination lawsuit both on the shareholders of Texaco and its major U.S. competitors. Employing a comprehensive data set which included every case docket entry and every Wall Street Journal article on the case as an experimental stimulus, our findings suggest that the overall cost of the case to Texaco shareholders exceeded $500 million, that Texaco's tribulations had little, if any, impact on the share prices of its major competitors, and that Wall Street Journal coverage of the case was highly correlated with significant changes in Texaco stock prices. This last finding provides significant support for Hite 's suppostion that newspaper editors “key ” on ex post stock price changes in selecting the events to be covered in the next day's edition. The authors are grateful to Kee Chung for helpful comments on earlier drafts and also acknowlege the help-ful assistance of the staff of the law library at the Cecil C. Humphreys School of Law at The University of Memphis.     

The impact of unionization,right-to-work laws,and female labor force participation on earnings inequality across states

This study examines the effect of unionization, right-to-work laws, and participation of women in the labor force on income inequality. Two distinct models are developed using 1970 and 1980 census data on the 50 states in the U.S. First, an income inequality model is specified as a beta distribution of the second kind to estimate Gini measures of income inequality. Second, these Gini estimates are used in a simultaneous equations model. The 1970 results indicate that higher unionization rates decreased inequality while right-to-work laws increased inequality. In 1980, the measure of inequality was lower in states with higher female labor force participation. We thank an unknown referee and the editor for comments and criticisms that greatly improved the paper. The usual caveat applies.     

An Experimental Evaluation of the Serial Cost Sharing Rule

This paper proposes an experimental test to evaluate the performance of the serial cost sharing rule, originally proposed by Shenker [Sigmetrics, 241–242 (1990)] and then analyzed by Moulin and Shenker [Econometrica 60, 1009–1037 (1992)]. We report measures of the performance and efficiency of the serial mechanism by comparing the choices and payoffs attained by the subjects to the expected equilibrium allocations. Experimental evidence shows that learning is needed for the subjects to converge to the equilibrium strategy. However, in terms of efficiency, the serial mechanism leads to almost efficient allocations.     

Gay Affirmative Practice: A Model for Social Work Practice with Gay,Lesbian, and Bisexual Youth

Gay affirmative practice has recently been introduced into the social work literature as a culturally sensitive model for working with gay, lesbian, and bisexual (GLB) adults, however, this model has rarely been applied to practice with GLB youth. In this article, the authors review the literature to present the main tenets of gay affirmative practice, outline the challenges that GLB youth face, and delineate the environmental and individual strengths that can be enhanced to promote well-being. The authors then apply the gay affirmative practice model to GLB youth, offering concrete information about the specific knowledge, attitudes, and skills that social workers should acquire to better serve the unique, yet diverse, needs of GLB youth.     

Über Macht und Ehre in Vereinen und Verbänden: Ein Rückblick auf Forschung und Politik

Cultural and professional associations are the expression of the modern society with structured organisations. The 19th century was the marking epoch of the constitution of associations in Germany. The involvement of associations in the political live, specially the professional ones, is typical in Germany. While political sciences focus on the analyses of interest representation and mediation functions of organisations, sociology research covers the full range of social, psychological, political and economical functions of organisations. Management and especially human resource management topics are presently gaining a growing importance within the research community which focuses on the cultural and professional organisations.     

Sets of alternatives as Condorcet winners

We characterize sets of alternatives which are Condorcet winners according to preferences over sets of alternatives, in terms of properties defined on preferences over alternatives. We state our results under certain preference extension axioms which, at any preference profile over alternatives, give the list of admissible preference profiles over sets of alternatives. It turns out to be that requiring from a set to be a Condorcet winner at every admissible preference profile is too demanding, even when the set of admissible preference profiles is fairly narrow. However, weakening this requirement to being a Condorcet winner at some admissible preference profile opens the door to more permissive results and we characterize these sets by using various versions of an undomination condition. Although our main results are given for a world where any two sets – whether they are of the same cardinality or not – can be compared, the case for sets of equal cardinality is also considered. Received: 15 March 2001/Accepted: 31 May 2002 This paper was written while Barış Kaymak was a graduate student in Economics at Boğazi?i University. We thank ?ağatay Kayı and İpek ?zkal-Sanver who kindly agreed to be our initial listeners. The paper has been presented at the Economic Theory seminars of Bilkent, Ko? and Sabancı Universities as well as at the Fifth Conference of the Society for the Advancement of Economic Theory, July 2001, Ischia, Italy and at the 24^th Bosphorus Workshop on Economic Design, August 2001, Bodrum, Turkey. We thank Fuad Aleskerov, İzak Atiyas, ?zgür Kıbrıs, Semih Koray, Gilbert Laffond, Bezalel Peleg, Murat Sertel, Tayfun S?nmez, Utku ünver and all the participants. Remzi Sanver acknowledges partial financial support from İstanbul Bilgi University and the Turkish Academy of Sciences and thanks Haluk Sanver and Serem Ltd. for their continuous moral and financial support. Last but not the least, we thank Carmen Herrero and two anonymous referees. Of course we are the sole responsible for all possible errors.     

The Development of Anticipatory Smiling

When do infants begin to communicate positive affect about physical objects to their social partners? We examined developmental changes in the timing of smiles during episodes of initiating joint attention that involved an infant gazing between an object and a social partner. Twenty‐six typically developing infants were observed at 8, 10, and 12 months during the Early Social‐Communication Scales, a semistructured assessment for eliciting initiating joint attention and related behaviors. The proportion of infant smiling during initiating joint attention episodes did not change with age, but there was a change in the timing of the smiles. The likelihood of infants smiling at an object and then gazing at the experimenter while smiling (anticipatory smiling) increased between 8 and 10 months and remained stable between 10 and 12 months. The increase in the number of infants who smiled at an object and then made eye contact suggests a developing ability to communicate positive affect about an object.