Taking risks in investing in the equity market: racial and ethnic differences

Some policy makers and policy analysts have proposed that Social Security should be privatized to enable participants to achieve higher returns through investment in the stock market. How well individual retirees would fare financially under a privatized system largely depends on their decision to invest in the equity market, rather than in other types of investment vehicles. For that reason, it is important to investigate the degree to which minority people are currently investing in this market. This article presents the findings of a study that compared the investment behavior of black and Hispanic people aged 51 to 61 with the investment behavior of their white counterparts. The major findings indicate that black and Hispanic people: (a) are less likely to invest in the equity market than are white people, and (b) tend to invest smaller percentages of their assets in the equity market. Implications for policy are discussed.     

Determinants of engagement in paid work following social security benefit receipt among older women

Work behavior among older men approaching or following retirement has received considerable research attention over the past two decades, but research on older women's work behavior is still in its incipient stage. Based on data from the 1982 New Beneficiary Survey (NBS) and the 1991 New Beneficiary Follow-up (NBF), this study analyzes the extent and determinants of employment among women who received their first Social Security benefits between 1980 and 1981. More than one fourth of the women continued to work or rejoined the labor force following their first Social Security benefit receipt. Financial need was found to be the primary reason for and the most significant determinant of women's continuing work or (re)entry into the labor force. But the level of education, health, spouse's work status, and previous work history were also found to be significant determinants of the likelihood and duration of their employment following Social Security receipt.     

Postmodernism and the sacred: reclaiming connection in our greater-than-human worlds

This article addresses the many faces of postmodernism and offers the critique that postmodernism taken up in a particular extremist way can tend to sacrifice the sacred, the spiritual, and the recognition of our "greater than human" worlds in a quest for the particular. In response to this critique, I speak to a postmodern family therapy practice that is informed by values of connectedness, community, and communion; enacted through love and pragmatics; and committed to recognition of our obligation to ecological practice.     

Psychiatric inpatients' experience of nursing observation. A United Kingdom perspective

1. Nursing observation is a key component of psychiatric inpatient nursing care. 2. Patients' experiences of being observed are strongly influenced by the attitudes and behaviors of the observing nurses. 3. Patients prefer to be observed by nurses they know and who talk to them.     

Boater training, drinking and boating, and other unsafe boating practices

OBJECTIVES: Identify associations between lack of formal boater training, drinking and boating, and other unsafe boating practices. METHODS: A telephone survey queried respondents (age 16 or older in continental United States) about boating experience, type of boat used, and training. RESULTS: Of the 3,042 boaters surveyed (70% response), most had no formal training (73%). Boaters with formal training failed to use PFDs about as often as those without formal training and were equally or more likely to use alcohol while boating. CONCLUSIONS: The unexpected association between formal training and unsafe boating practices is probably due to reduced risk perception and inadequacies of boater training programs. Such programs seldom mention the risks of alcohol use while boating. Decisions to mandate formal training should be informed by these results; if mandated, training should address the risks of alcohol use while boating, and should be renewed frequently enough to offset reductions in risk perception.     

Abuse, support, and depression among homeless and runaway adolescents

This study examines the effectiveness of social support networks on psychological well-being among 602 homeless and runaway adolescents. The respondents were interviewed in shelters, drop-in centers, and on the streets in cities of four Midwestern states (Missouri, Iowa, Nebraska, and Kansas). The path model was used to test the direct effect of family abuse and precocious independence on adolescent depressive symptoms and indirect effects through social support networks. Results indicate that although abusive family origins contribute directly to depressive symptoms there are indirect effects of family abuse and early independence through social support networks. Family abuse and early independence drive homeless adolescents to rely on peers for social support. While support from friends on the street reduces depression, association with deviant peers increases depression.     

Optimizing inventory and marketing policy for non-instantaneous deteriorating items with generalized type deterioration and holding cost rates

This paper considers an inventory system with non-instantaneous deteriorating item in which demand rate is a function of advertisement of an item and selling price. This paper aids the retailer in maximizing the total profit by determining optimal inventory and marketing parameters. In contrast to previous inventory models, an arbitrary holding cost rate and arbitrary deterioration rate have been incorporated to provide general framework to the model. First, a mathematical model is formulated and then some useful theoretical results have been framed to characterize the optimal solutions. The necessary and sufficient conditions for the existence and uniqueness of the optimal solutions are also derived. An algorithm is designed to find the optimum solutions of the proposed model. Numerical examples are included to illustrate the algorithmic procedure and the effects of key parameters are studied to analyze the behavior of the model.     

Risk management: a competitive advantage in the purchasing function

This paper aims to explore the purchasing function on behalf of the provider, when the purchasing takes the form of a request for proposals (RfP) from the client. A methodology for handling the bidding process is presented, illustrated by a case study from the IT sector. The proposed methodology places risk as a factor for the selection of the best and final offer of the provider in addition to the traditional decision factors: delivery time, product cost and performance. The method is supported by a structured corporate memory and a decision support system based on the analytical hierarchy process.     

Book Reviews

This article examines some difficulties associated with the Haynes–Stone model and attempts to clarify how the model can be justified as representing the hypothesis that “quantity is demand determined and price is supply determined.” It also argues that the applications of such a model as was done by Haynes and Stone might not have resolved the controversies related to the Phillips curve and the supply function of exports (or imports).     

Use of balanced bipartite weighing designs as chemical balance designs

This paper deals with the use of balanced bipartite weighing designs as chemical balance designs when there Is a restriction on the number of objects that can be placed on either pan..The variance of each estimated weight and the covarlance of each pair of estimated weights are worked out.The use of additional weighing when the design matrix is singular is discussed.