Problems in the application of portfolio selection models

This paper discusses a number of problems which arise in the implementation of portfolio selection models. It is suggested that the effect of errors and biases in expected return forecasts can be reduced by using these forecasts to modify a prior distribution which leads to minimal trading activity. Efficient diversification across industry groups is hampered by the difficulties of predicting covariances. The use of a selection model through time raises the issues of revising forecasts and of the relationships upon which the appropriate investment horizon and portfolio turnover depend. Last, consideration is given to the conflicts which may exist between management objectives and the mean-variance criterion used by most models.     

Roll-out neoliberalism and hybrid practices of regulation in Australian agri-environmental governance

In the last 15 years, agri-environmental programmes in Australia have been underpinned by a neoliberal regime of governing which seeks to foster participation and ‘bottom-up’ change at the regional level at the same time as encouraging farmers to become entrepreneurial and improve their productivity and environmental performance without government interference. However, while experiencing a degree of success in terms of farmer involvement, considerable tensions are evident in such programmes. Drawing on an ‘analytics of governmentality’, this paper argues that while current agri-environmental programmes enable authorities to combine often competing and contradictory imperatives under the rubric of single political problems—what has been termed hybrid forms of governing—it also contributes to the continuing failure of these programmes to achieve their desired effects. As a consequence, neoliberal forms of governing tend to be characterised by experimentation with a range of governmental technologies in order to make programmes workable in practice. We explore two different types of technologies—standards schemes and direct government regulation—that have emerged in recent years, and how these have sought to address the limitations evident in ‘participatory’ programmes. The paper concludes by arguing that while these initiatives seek to encourage farmer compliance in seemingly divergent ways, their capacity to be workable, and have broader effects, in practice will depend upon their capacity to manage the competing imperatives of environmental degradation, capital accumulation and private property rights.     

The feeling edge of culture

During the 1960s, the new generation changed the American Creed by deemphasizing sensitivity to evidence, emphasizing feelings and deductive thought, while assuming an adversarial position against the sociopolitical order and embracing the American Black's struggle against racism. Driven by pain, fueled by fear and anger and oriented by existential values of being, the Civil Rights Movement, sought to actualize political values of justice and equality. As peaceful demonstrations dwindled, violence increased, converting individual anger to social rage. Anger's cognitive structure changed the concept of society into a dichotomy of Black victims and White oppressors, forming an ethic of sensitivity with victims occupying the moral high ground. Pain and tragedy were banished from view and blamed on oppressors as individual identities divested civil traits and acquired cultural identity, disuniting the civil society. Rubbing against the American Creed, the ethic of sensitivity produced a feeling of malaise posing a threat to mental health.     

Judgment and Analysis in Oil Spill Risk Assessment

The risk of oil spills is a major environmental issue in the siting of proposed coastal refineries, oil terminals, deepwater ports, and in the leasing of offshore lands for oil exploration and development. As with any kind of risk, oil spill risk assessment is inherently judgmental and no analytic method can eliminate the need for judgment. This paper compares representative examples of oil spill risk assessments with regard to decisions about data, variables, functional relations, and uncertainty. The comparison emphasizes the judgmental basis of analytic methods.     

Supportive parenting moderates the effect of discrimination upon anger, hostile view of relationships, and violence among African American boys

Studies have shown that exposure to discrimination increases the probability that African American adolescents will engage in delinquent behavior, especially acts of violence. The present study extended this research by examining the extent to which supportive parenting buffers a youth from these deleterious consequences of discrimination. Analyses based upon two waves of data from a sample of 332 African American adolescent males and their caretakers supported this hypothesis. Further the results indicated that there are two avenues whereby supportive parenting reduces the probability that discrimination will lead to violence. First, supportive parenting decreases the chances that discrimination will lead to anger and a hostile view of relationships. Second, supportive parenting lowers the risk that anger or a hostile view of relationships, when they develop, will result in violence.     

Victim service and justice system representative responses about partner stalking: what do professionals recommend?

Research suggests that partner stalking is associated with reassault and lethality as well as increased psychological distress for victims. However, there is a significant gap in information about stalking interventions and the responses of health, mental health, law enforcement, social services, and criminal justice professionals to women experiencing partner stalking. The purpose of this study is to examine the ideas about appropriate and effective responses to stalking victims from professionals in victim services and the justice system. The study also examined differences among rural and urban representatives because prior studies have shown significant differences between rural and urban areas on experiences and responses to partner violence. A total of 152 key informants (38 urban and 114 rural) were interviewed. Study results suggest a need for more training for victim services and justice system professionals on stalking and service needs of women who experience stalking in the context of partner violence.