WHY CORPORATIONS INSURE

Corporations insure to reduce the shirking-information problem of joint production. Insurance encourages specialization in ownership, increasing the returns to monitoring and lowering shareholders' demand for a more diversified portfolio; it enhances the credibility of specific capital as a performance bond; and it lowers the cost to shareholders of compensating other members of the team for investing in firm-specific assets. Tax and other factors may further encourage individual corporations to insure.     

PEER EFFECTS IN HIGHER EDUCATION: DOES THE FIELD OF STUDY MATTER?

Does the peer effect vary with the field of study? Using data from a middle‐sized public university located in southern Italy and exploiting the random assignment of first‐year students to college accommodation, we find that roommate peer effects for freshmen enrolled in the hard sciences are positive and significantly larger than for freshmen enrolled in the humanities and social sciences. We present a simple theoretical model which suggests that the uncovered differences between fields in the size of the peer effect could plausibly be generated by between‐field variation in labor market returns, which affect optimal student effort. (JEL I21, Z13, J24)     

关于少数民族概念的几个问题－－少数民族权利理论问题研究

“少数民族”一词是一个被广泛使用的概念。“少数民族”概念在各个国家和地区各有不同的界定,每一个国家根据其自身所要调整的民族关系,来定义其特定的少数民族概念,并进而保障少数民族权利。在中国,少数民族概念已经深入人心,这是民族概念在当代中国社会和中国宪法体系中所具有的独特意义和价值。     

Application of TOC/OPT rules in a medium sized shop

Abstract

Abstract. Theory of constraints (TOC) and optimized production technology (OPT) are frequently presented as the better options for production control systems. Despite this enthusiasm, there is very little literature on how these principles can be implemented in practice without having to resort to the expensive proprietary software. In this paper we present a case study in which the OPT/TOC ideas were implemented without using the software. Management's major concern was reduction of work in process and increased delivery performance. It was decided to test whether the ideas of OPT/TOC were applicable in this environment and more importantly to which extent these two performance measures could be improved. The paper reports on the methodology used to test the OPT/TOC ideas in this shop and presents some early results of improvement, as well as some new problems which arose due to the new approach.     

Why Care about Scientific Controversies?

Since Kuhn claimed that scientific controversies are not always settled by means of rational evaluations of the intrinsic merits of competing theories, the view that the history of science should be recounted by examining the background of scientific controversies and how these controversies came to be settled has become a real heuristic maxim for the historian of science. We take issue with this view by arguing that controversies are not relevant by themselves but only insofar as one can make something out of them. Two important questions then arise: what did one come to learn from a given controversy and what came out of this apprenticeships. We compare Pauline Mazumdar's and Alfred Tauber's approaches to the history of immunology and argue that only the latter addressed these questions. In so doing, he was able to show the extension in which modern immunology is an outcome of Metchnikoff's success in correcting Haeckel's “fundamental biogenetic law”.     

Estimation for High‐Dimensional Linear Mixed‐Effects Models Using ℓ1‐Penalization

Abstract. We propose an ?₁‐penalized estimation procedure for high‐dimensional linear mixed‐effects models. The models are useful whenever there is a grouping structure among high‐dimensional observations, that is, for clustered data. We prove a consistency and an oracle optimality result and we develop an algorithm with provable numerical convergence. Furthermore, we demonstrate the performance of the method on simulated and a real high‐dimensional data set.