Implied Preference for Seismic Design Level and Earthquake Insurance

Seismic risk can be reduced by implementing newly developed seismic provisions in design codes. Furthermore, financial protection or enhanced utility and happiness for stakeholders could be gained through the purchase of earthquake insurance. If this is not so, there would be no market for such insurance. However, perceived benefit associated with insurance is not universally shared by stakeholders partly due to their diverse risk attitudes. This study investigates the implied seismic design preference with insurance options for decisionmakers of bounded rationality whose preferences could be adequately represented by the cumulative prospect theory (CPT). The investigation is focused on assessing the sensitivity of the implied seismic design preference with insurance options to model parameters of the CPT and to fair and unfair insurance arrangements. Numerical results suggest that human cognitive limitation and risk perception can affect the implied seismic design preference by the CPT significantly. The mandatory purchase of fair insurance will lead the implied seismic design preference to the optimum design level that is dictated by the minimum expected lifecycle cost rule. Unfair insurance decreases the expected gain as well as its associated variability, which is preferred by risk-averse decisionmakers. The obtained results of the implied preference for the combination of the seismic design level and insurance option suggest that property owners, financial institutions, and municipalities can take advantage of affordable insurance to establish successful seismic risk management strategies.     

Auftragsklärung: Interventionen auf dem Wege zur Konstituierung eines Beratungssystems*

The author demonstrates basing on a case study, that the development of a consultation system is a process that requires time and patience of everyone involved. Not a fast decided definition of a consultation method with the corresponding setting is the first step but a clarification of the request. That is what the author is pleading for a phase of detailed analysis with the potential client.     

Identity Agents: Parents as Active and Reflective Participants in Their Children's Identity Formation

The paper introduces the concept of identity agents. This concept refers to those individuals who actively interact with children and youth with the intention of participating in their identity formation, and who reflectively mediate larger social influences on identity formation. This contrasts with the focus of mainstream research in the identity field that tends to portray adolescents as the sole reflective agents involved in mature identity development. The paper presents a theoretical analysis presenting the importance of the concept for the formulation of a comprehensive contextual theory of identity formation. The particulars of this concept are illustrated through the presentation of a qualitative report of religious parents actively encouraging their children's processes of identification, co‐participating in their children's identity's formation, and reflectively deliberating their parental roles and goals in regards to this process.     

Ecology of urban lawns under three common management programs

Turfgrass lawns are a central part of urban and suburban landscapes throughout North America and are often managed using repeated applications of chemical fertilizers and pesticides. These inputs are expensive and may negatively affect ecological processes in lawns. Therefore, we evaluated the influence of three most common lawn care programs on ecological characteristics of turfgrass lawns. Twenty-eight home lawns, separated into 3 groups based on the lawn care program (professional, do-it-yourself [DIY], and no-input), were studied. Data on lawn quality, weed and insect infestation, disease incidence, soil nematode community, soil nitrogen pools, microbial biomass (MBN), and soil organic matter (SOM) were collected. Results indicated that professional lawn care resulted in the highest aesthetic lawn quality mainly due to better weed control, compared to DIY and no-input programs. However, professional and DIY programs negatively affected MBN and SOM pools and enhanced disease (rust) severity. No significant differences in soil nematode population and nematode community indices across the three programs were found, indicating no differences in net ecosystem productivity among the three programs. Overall, soil nematode food web in turfgrass lawns represented a disturbed food web compared to natural grasslands and forest ecosystems, irrespective of the lawn care program used.     

The duality of world cities and firms: comparing networks,hierarchies, and inequalities in the global economy

Much of the research on globalization conceives of the global economy as structured by networks among places, while separately organizational research has examined the role of networks among firms in structuring competition, collaboration, and cooperation. In both cases, position and centrality within the network confers certain advantages and disadvantages, the distribution of which defines a hierarchy. In this article, I explore the idea of dual networks of world cities and firms, then use Breiger's approach to define two such networks: one among 313 world cities, another among 100 advanced producer service firms. Comparison of the degree of inequality in the hierarchies implied by these networks suggest that world city hierarchies are steeper than firm hierarchies (that is there is greater inequality among cities). Thus, even under conditions of footloose global capitalism, place still matters: where a producer is located has more impact than who provides support services.     

Hook‐Ups and Train Wrecks: Contextual Parameters and the Coordination of Jazz Interactions

This article discusses the importance of several parameters of context integral to jazz musicians' ability to hear musical signs as meaningful, such as performers' individual backgrounds and the various other styles of music available in the aural landscape, and how those parameters influence what the musicians play. Several examples from an ongoing ethnography of jazz jam sessions suggest that context is constituted by several variables, that different variables may become salient at different times, and that different interactants vary in their ability to attend to these variables. This study thus extends and elaborates frame analysis by showing that, while an interaction frame of the sort described by Goffman (1974) may perdure, it is subject to change, and the nature of the context it provides for interactions can change whenever a new interaction is initiated.     

Eye-Tracking Data: New Insights on Response Order Effects and Other Cognitive Shortcuts in Survey Responding

Survey researchers since Cannell have worried that respondents may take various shortcuts to reduce the effort needed to complete a survey. The evidence for such shortcuts is often indirect. For instance, preferences for earlier versus later response options have been interpreted as evidence that respondents do not read beyond the first few options. This is really only a hypothesis, however, that is not supported by direct evidence regarding the allocation of respondent attention. In the current study, we used a new method to more directly observe what respondents do and do not look at by recording their eye movements while they answered questions in a Web survey. The eye-tracking data indicate that respondents do in fact spend more time looking at the first few options in a list of response options than those at the end of the list; this helps explain their tendency to select the options presented first regardless of their content. In addition, the eye-tracking data reveal that respondents are reluctant to invest effort in reading definitions of survey concepts that are only a mouse click away or paying attention to initially hidden response options. It is clear from the eye-tracking data that some respondents are more prone to these and other cognitive shortcuts than others, providing relatively direct evidence for what had been suspected based on more conventional measures.     

DIFFERENTIAL DEPOSIT GUARANTEES AND THE EFFECT OF MONETARY POLICY ON BANK LENDING

This paper utilizes differences in de jure deposit insurance coverage across banks and changes in coverage over time to identify a bank‐lending channel in Poland. Banks with partial guarantees have a stronger loan response to monetary policy than banks with full guarantees. Furthermore, the weak response of the fully guaranteed banks is attributed to their ability to raise low‐reserve, uninsured time deposits relative to the partially covered banks. When differential coverage is eliminated, there is no disparity in the loan response between the two groups. This lending channel has implications for credit control and financial system development in emerging markets. (JEL E52, G21, G28)