Auctions of companies

Auctions of companies are conducted in ways that contradict received auction theory. The major puzzles are: (1) sellers restrict the number of bidders; (2) sellers restrict the number of bidders; (3) bidders are screened by an initial round of non-binding bids; and (4) bidders offer - and sellers sometimes accept - preemptive bids. Puzzles (1), (2), and (4) are explained by assuming that some information concerning the company can, if released, reduce the value of the company. Puzzle (3) is explained as a way for sellers to select the highest-valued bidders; equilibrium is maintained by using the initial bids to set a reserve price for the final bidding round.     

Heterogeneity of individuals with a history of child sexual abuse: an examination of children presenting to treatment

The current study examined children and families who presented for treatment through Project SAFE (Sexual Abuse Family Education) following childhood sexual abuse. Pretreatment assessment data were used to develop clusters of participants with significantly differing presentation of symptom outcome following abuse. Four clusters were discovered: (a) a Highly Distressed group, whose members had clinically elevated scores on all self- and parent-report measures; (b) a Problem Behaviors group, whose members had scores within the normal range for self-report measures and elevated scores on all parent-report measures; (c) a Subclinical group, whose participants had scores below the mean and below cutoff scores for all self- and parent-report measures; and (d) a Self-reported Distress group, whose members had elevated scores on self-report measures and scores below clinical cutoffs for all parent-report measures.     

Einkommenseinbu?en durch Arbeitslosigkeit in Deutschland:

The article analyses the consequences of unemployment for earned income after reentering employment. The magnitude of these effects and their changes over the life course are described on the basis of existing research as well as own empirical analyses. The latter are based on administrative data from the German Pension Insurance (Versicherungskontenstichprobe VSKT 2006). Since previous studies differ with regard to both, sample definitions and the applied methods of causal analysis, our own empirical analysis of age- and gender-specific effects is based upon various methods of analysis while using a common dataset. We can show that income and wage penalties due to unemployment increase significantly with age. Moreover, women??s overall financial losses are higher than men??s, especially in the youngest age group.     

Equivalence Between Out‐of‐Sample Forecast Comparisons and Wald Statistics

We demonstrate the asymptotic equivalence between commonly used test statistics for out‐of‐sample forecasting performance and conventional Wald statistics. This equivalence greatly simplifies the computational burden of calculating recursive out‐of‐sample test statistics and their critical values. For the case with nested models, we show that the limit distribution, which has previously been expressed through stochastic integrals, has a simple representation in terms of χ²‐distributed random variables and we derive its density. We also generalize the limit theory to cover local alternatives and characterize the power properties of the test.     

"You are weeping for that which has been your delight": to experience and recover from grief

To explore how people experience grief and what factors are perceived as facilitating successful grief work, a survey was distributed to people who had completed a grief recovery course. The results showed that emotions, cognitions, physical expressions, and behaviors all characterize grief, but that emotions are the most central component. The course brought relief and was regarded most favorably by those having at least 1 year between the grief trigger event and participation in the course. Writing a letter in which course participants express their feelings to the loss object was perceived as the most successful aspect of the course. The letter might help with grief recovery by bringing aspects that have not been dealt with into conscious awareness.     

The flood algorithm—a multivariate, self-organizing-map-based, robust location and covariance estimator

Self-organizing maps (SOMs) introduced by Kohonen (Biol. Cybern. 43(1):59–69, 1982) are well-known in the field of artificial neural networks. The way SOMs are performing is very intuitive, leading to great popularity and numerous applications (related to statistics: classification, clustering). The result of the unsupervised learning process performed by SOMs is a non-linear, low-dimensional projection of the high-dimensional input data, that preserves certain features of the underlying data, e.g. the topology and probability distribution (Lee and Verleysen in Nonlinear Dimensionality Reduction, Springer, 2007; Kohonen in Self-organizing Maps, 3rd edn., Springer, 2001).     

BORN FREE to Integrated Life Planning: Advancing Equity in Career Development

BORN FREE and Integrated Life Planning (ILP) are two efforts that have advanced equity within career development. This article reviews the concepts of BORN FREE and ILP, connecting both efforts to current visions of social justice.     

Experiments in modelling recent Danish fertility curves

This paper reports the outcome of an exercise in curve fitting to annual sets of Danish age-specific fertility rates for the years 1962 to 1971 by means of least squares. Functions fitted were a cubic spline, the Hadwiger and Coale-Trussell functions, the gamma and beta densities, two versions of a polynomial, and two of Brass's relational procedures, as well as the Gompertz curve. The spline function fitted all curves far better than any of the others. The Coale-Trussell procedure and gamma density were about equal, followed by the Hadwiger function. All of these functions fit the data well. One of the polynomials fit reasonably well, but the rest of the functions were less accurate.     

International adoption: Issues of acknowledgement of adoption and birth culture

There has been a steady trend of adopting children from other countries. Families who adopt children internationally are faced with not only the acknowledgement of the adoption but the recognition of the birth culture. Thirty four families were surveyed to assess issues regarding the relevance, frequency, and means of acknowledgement of the adoption and birth culture. Findings are reported with suggestions for adoption professionals included.