Rethinking Risk Attitude: Aspiration as Pure Risk

There exists no completely satisfactory theory of risk attitude in current normative decision theories. Existing notions confound attitudes to pure risk with unrelated psychological factors such as strength of preference for certain outcomes, and probability weighting. In addition traditional measures of risk attitude frequently cannot be applied to non-numerical consequences, and are not psychologically intuitive. I develop Pure Risk theory which resolves these problems – it is consistent with existing normative theories, and both internalises and generalises the intuitive notion of risk being related to the probability of not achieving one’s aspirations. Existing models which ignore pure risk attitudes may be misspecified, and effects hitherto modelled as loss aversion or utility curvature may be due instead to Pure Risk attitudes.     

The social inclusion policy agenda in Australia: a case of old wine,new bottles?

The election of an Australian Labor Government in Australia in 2007 saw ‘social inclusion’ emerge as the official and overarching social policy agenda. Being ‘included’ was subsequently defined by the ALP Government as being able to ‘have the resources, opportunities and capabilities needed to learn, work, engage and have a voice‘. Various researchers in Australia demonstrated an interest in social inclusion, as it enabled them to construct a multi‐dimensional framework for measuring disadvantage. This research program resulted in various forms of statistical modelling based on some agreement about what it means to be included in society. The multi‐dimensional approach taken by academic researchers, however, did not necessarily translate to a new model of social policy development or implementation. We argue that, similar to the experience of the UK, Australia's social inclusion policy agenda was for the most part narrowly and individually defined by politicians and policy makers, particularly in terms of equating being employed with being included. We conclude with discussion about the need to strengthen the social inclusion framework by adopting an understanding of social inequality and social justice that is more relational and less categorical.     

Pandemic refuges: Lessons from 2 years of COVID-19

This paper relates evidence from the COVID-19 pandemic to the concept of pandemic refuges, as developed in literature on global catastrophic risk. In this literature, a refuge is a place or facility designed to keep a portion of the population alive during extreme global catastrophes. COVID-19 is not the most extreme pandemic scenario, but it is nonetheless a very severe global event, and it therefore provides an important source of evidence. Through the first 2 years of the COVID-19 pandemic, several political jurisdictions have achieved low spread of COVID-19 via isolation from the rest of the world and can therefore classify as pandemic refuges. Their suppression and elimination of COVID-19 demonstrates the viability of pandemic refuges as a risk management measure. Whereas prior research emphasizes island nations as pandemic refuges, this paper uses case studies of China and Western Australia to show that other types of jurisdictions can also successfully function as pandemic refuges. The paper also refines the concept of pandemic refuges and discusses implications for future pandemics.     

ORGANIZATIONAL CHOICE AND SOME CORRELATES OF INDIVIDUALS' EXPECTANCIES1

This study uses expectancy theory to predict the sorority choices of 121 undergraduate students. Results show that the complete, multiplicative expectancy model is only a slightly better predictor of choice behavior than other versions of the model. Several personal and situational correlates of individuals' expectancies of entering sororities also are examined. Results show significant relationships between expectancy and subjects' self-esteem, perception of value similarity with sorority members, and number of perceived friendships with sorority members.