Engaging the Process of Transformation

The contributions included in this issue demonstrate the variety of ways in which participatory and interpretive methods are transforming the field of psychology and clarify the integration of the personal and political commitments of the authors within their research. A number of issues remain to be negotiated, however, before these methods take their full place in the field. This conclusion considers a few of these issues, including an examination of how these approaches demand a fundamental reassessment of validity in psychological research. It also considers the critical issue of the ownership of knowledge, and proposes a reframing of the ethical guidelines for research in the field. Finally, it invites further discussion and debate around the issues raised in this issue.     

The Effects of Judicial Strength and Rule of Law on Portfolio Investment in the Developing World*

Objective. Applying existing theories relating to investment risk, this article examines the effects of judicial strength and adherence to the rule of law on portfolio investment in the developing world. We aim to demonstrate that countries with higher levels of judicial strength and rule of law are more able to attract portfolio investment because they provide greater protection of property rights and a better risk environment for investors. Methods. Using time‐series data for 79 developing countries for the period 1996–2005, we employ panel‐corrected standard errors multivariate regressions to demonstrate that higher levels of judicial strength and rule of law are associated with higher levels of portfolio investment. Results. We find that a one standard deviation increase in overall judicial strength and rule of law results in more than a 50 percent increase in portfolio investment. In separate analyses, we show that a one standard deviation increase in specific measures of judicial independence, impartial courts, and protection of property rights leads to increases in portfolio investment ranging from 27 percent to 184 percent. Conclusion. Judicial strength and adherence to the rule of law are important determinants of portfolio investment in the developing world.     

Therapist Effects on Disparities Experienced by Minorities Receiving Services for Mental Illness

OBJECTIVES: The authors examine if some of the reason clients from racial and ethnic minority groups experience outcome disparities is explained by their therapists. METHOD: Data from 98 clients (19% minority) and 14 therapists at two community mental health agencies where clients from racial and ethnic minority groups were experiencing outcome disparities were analyzed using hierarchical linear modeling with treatment outcomes at Level 1, client factors at Level 2, and therapists at Level 3. RESULTS: There were substantial therapist effects that moderated the relationship between clients' race and treatment outcomes (outcome disparities). Therapists accounted for 28.7% of the variability in outcome disparities. CONCLUSIONS: Therapists are linked to outcome disparities and appear to play a substantial role in why disparities occur.     

The role of the gerontological social worker in assisted living

This qualitative study reports on thirteen assisted living (AL) administrators' perspectives of the role and the importance of the AL social worker in addressing the unmet needs of older adults as they move and transition into AL. Participant interviews were analyzed using the constant comparative method. Administrators described 5 AL social work roles: (a) decision-making and adjustment coordinator; (b) resident advocate; (c) mental health assessor and counselor; (d) family social worker; and (e) care planner. Implications include directly examining AL social workers' views, analyzing costs and benefits of employing AL social workers, and developing social work practicum sites within AL.     

Deciding to use the emergency room: a qualitative survey of older veterans

Increasing use in the past decade has created pressure for hospital emergency rooms (ERs). Healthcare provided through an ER is expensive and is not designed to meet the complex needs of an older, chronically-ill population. ER visits are presented as the outcome of a decision-making process. Thirty veterans who had visited the ER in the previous year were asked about their decisions to use the ER. Their responses reflected four distinct approaches to ER use, which are characterized by frequency (frequent/infrequent) and risk for social isolation (low/high). Appropriate interventions by social work personnel might reduce inappropriate use of the ER and enhance the care of this vulnerable population.     

Social Class in Public Schools

This article shows the pattern of socioeconomic class differences in schooling outcomes and indicates some of the causes for those differences that lie within the public realm. Those causes include "nested inequalities" across boundaries of states, school districts, schools within a district, classes within a school, and sometimes separation within a class. In addition, urban public schools demonstrate a particular set of problems that generate differential schooling outcomes by economic class. The article also demonstrates ways in which class biases are closely entwined with racial and ethnic inequities. It concludes with the broad outlines of what would be necessary to reduce class (and racial) disparities in American public schools .

The American dream will succeed or fail in the 21 ^st century in direct proportion to our commitment to educate every person in the United States of America.
            —President Bill Clinton, 1995 ( Clinton, 1995 : 617)

There is no greater test of our national responsibility than the quality of the education we provide.
      —Democratic presidential candidate Al Gore, 2000 ( Gore, 2000 )

Both parties have been talking about education for quite a while. It's time to come together to get it done, so that we can truthfully say in America: No child will be left behind.
                —President George W. Bush, 2001 ( Bush, 2001 )

     

Knowledge representation by schemata in financial expert systems

This paper introduces the notion of knowledge structuring by schemata. A schema is a chunk of knowledge which generalizes the idea of functional dependence between pertinent concepts (objects). The rules are closely related to the schemata. Moreover the schemata are organized in a hierarchical network which takes into account the relative importance of the concepts. Examples are given in the financial field and the consequences with regards to knowledge engineering are discussed.     

Some quantitative concepts of value and utility from a utilitarian point of view

This paper clarifies and interprets some basic quantitative concepts of value, utility and utility function from a utilitarian point of view. First, I discuss the question as to whether value is objective or subjective. I hold that value is subjective and statistical in nature (although from the various subjective values of a certain object a norm can usually be obtained). Second, I emphasize the distinction between use value and exchange value in relation to utility. Third, I propose a law of diminishing incremental interest, which refers to the incremental (marginal) utility of money. Fourth, I identify the utility of money with the von Neumann-Morgenstern utility. Fifth, I question the necessity of the usual normalization of utility functions and the restricted linear transformation (and the consequent concept of strategic equivalence). Sixth, I discuss in detail the terminal values and utilities of a utility function from a philosophical rather than mathematical point of view, particularly the boundedness of a utility function and the magnitudes of V ₀ and U ₀. Finally, I conclude that, in order to be able to have interpersonal comparisons of utility, utility should have the same dimension as value rather than no dimension, and the normalization problem should be reconsidered in the light of terminal values and utilities.     

Natural and artificial computing and reasoning in economic affairs

During a century or so, good reasoning in economic affairs was reduced to the search of computable algorithms for Expected Utility Optimization: but is the “Principle of least Action”, which was so powerful for guiding the researches in Physics and Natural Sciences as relevant as expected for guiding the good use of “reason in human affairs”? The discussion of the theoretical and practical weaknesses of the Paradigm of Expected Utility Optimization proposed since forty years notably by H. A. Simon, leads to the formulation of another paradigm, probably more relevant for the guidance of researches in economics and management affairs: “the Principle of Intelligent Action”, focus on the property of symbols computation systems. The general framework of Plausible Rationality, as established by G. Polya permits the formulation of programmable heuristics (or production rules) which can be expressed in terms of artificial symbolic computations. A more General Research Program is now open to research in Economic Reasoning by the developments of Artificial Intelligence and Cognitive Sciences: the design of relevant economic heuristics guiding the Decision Making Processes.