Buying and selling price for risky lotteries and expected utility theory with gambling wealth

I analyze two expected utility models which abandon the consequentialist assumption of terminal wealth positions. In the expected utility of gambling wealth model, in which initial wealth is allowed to be small, I show that a large WTA/WTP gap is possible and the (Rabin in Econometrica, 68(5), 1281–1292, 2000) paradox may be resolved. Within the same model the classical preference reversal which allows arbitrage is not possible, whereas preference reversal (involving buying prices in place of selling prices), which does not allow arbitrage, is possible. In the expected utility of wealth changes model, in which there is no initial wealth, I show that both a WTA/WTP gap as well as the classical preference reversal are possible due to loss aversion, both in its general as well as some specific forms.     

Assessing the impact of measurement error in modeling change in the absence of auxiliary data

Measurement error is well known to cause bias in estimated regression coefficients and a loss of power for detecting associations. Methods commonly used to correct for bias often require auxiliary data. We develop a solution for investigating associations between the change in an imprecisely measured outcome and precisely measured predictors, adjusting for the baseline value of the outcome when auxiliary data are not available. We require the specification of ranges for the reliability or the measurement error variance. The solution allows one to investigate the associations for change and to assess the impact of the measurement error.     

Fashioning Futures: Life Coaching and the Self‐Made Identity Paradox

Contemporary processes of individualization push people to construct single‐handedly their own identities. This urge runs counter to a fundament of sociology, which proposes that identities are social products that must be validated through social relations. Based on participant observation and in‐depth interviews with life coaches and their clients, I investigate life coaching as a social institution that aims to resolve the paradoxical nature of the desire for self‐creation. Locating life coaching in the larger identity‐fashioning market, this article illustrates how the artificial nature of outsourced social relations reconciles two apparently contradictory desires: the “need for help” and “wanting to find it on my own.” Three mechanisms are involved: creating an independent social space where identities can be crafted away from significant others; deliberately deemphasizing the coach and intentionally underwriting personal authorship; and encouraging clients to root identities in the social world while promoting an instrumental view of sociality. The article discusses the blurring of boundaries between intimate social relations and utilitarian market logic, and the implications of the ongoing outsourcing of identity support that reinforces the privileged ideal of self‐made identities.     

Is the Labour Market Adjustment in Poland Surprising?

Abstract. On the basis of the brief review of developments in employment and wages in Poland during the stabilization program in 1990, this paper tries to provide critical comments on the two often expressed opinions: that the fall in employment was surprisingly small compared to the fall in output, and that the tax-based incomes policy played a major role in forcing a huge drop in real earnings. It is argued that the actual proportions of the fall in output and employment were in line with specific features of the “overheated” shortage economy, which existed prior to the stabilization program. Since wages were not a “nominal anchor” for most of 1990, other reasons for the astonishing downward flexibility of real wages are analyzed. It is suggested that during the labour market adjustment, the rational strategy of employees was to accept a large, real wage cut in exchange for keeping their employment. Contrary to widespread opinion, it might also be argued that incomes policy, in a short and medium run, will play a much more important role in containing wage pressure than it has until now.     

The Changing Quality of Life in a Post-Communist Country: The Case of Czech Republic

Societal transformation which followed the fall of Communism in Czech Republic has affected many aspects of people's lives. In this paper, we describe the main institutional and structural transformations which induced changes in life-quality after 1989 and sketch thereafter some of the changes themselves. It is mostly the changing living conditions which we cover in the contribution: 1. democracy and civil rights, 2. employment and unemployment, 3. incomes, earnings and the quality of consumption, 4. poverty, 5. housing, 6. environment, 7. health, 8. crime, corruption and social pathology. Some tentative conclusions are proposed: the changes have been contradictory – positive on some dimensions of life-quality (democracy, civil rights, environment, health), negative on another set (crime and social pathology, housing) and inconclusive in the rest (incomes, wages, employment). It is, however, premature to draw definite conclusions, as the process of transformation has not yet reached its end. Judging from subjective evaluation of the overall life quality, the recent picture was encouraging: in 1996, the majority of Czech population said they were satisfied wit how they live. Not only life-quality has changed after 1989, but also the understanding of what good life means.     

The Critical Role of the Initial Stages of Cross-Sector Partnerships and Their Implications for Partnerships’ Outcomes

The paper presents research findings on the initial stages of the life cycle of cross-sector partnerships in the social services. The findings clearly show the importance and impact of the initial stages on the establishment and institutionalization of the partnerships over time. These stages are mainly characterized by clarifying the common goals of the partnership, mobilizing support to achieve the goals, overcoming resistance and relieving fears while convincing opponents to change their attitudes toward the partnership, and formalizing and constructing administrative processes and procedures. Special attention is given to the emotional energy that the management and workers invest in the initial stages in order to overcome barriers as well as ideological, cultural, and procedural gaps between the partner organizations. The relationships between selected organizational properties that typify the initial stages of cross-sector partnerships and the achievement of goals and outcomes are presented, analyzed, and discussed.

     

Investment, resolution of risk, and the role of affect

This experimental study is concerned with the impact of the timing of the resolution of risk on investment behavior, with a special focus on the role of affect. In a between-subjects design, we observe the impact of a substantial delay of risk resolution (2 days) on investment choices. Besides the resolution timing all other factors, including the timing of payout, are held constant across treatments. In addition, state-of-the-art experimental techniques from experimental economics and psychology are used for eliciting preferences and to explicitly measure emotions and personality traits. Participants put their own money at stake. Our main finding is that the timing of the resolution of risk matters for investment, modulated by the probability of investment success. Emotions are found to play a significant role in this respect and explain our main finding. Our results support recent models of decision making under risk trying to incorporate anticipatory emotions but also uncover some important shortcomings related to the dynamics of emotions.     

Applying critical social work in direct practice with families

This paper seeks to further discourse concerning the implications of critical social work for direct practice with families and children. It presents and discusses a hypothetical example of how a social worker in a social care agency in Israel can incorporate critical social work notions into an official social work report. The paper begins by presenting key concepts in critical social work, their manifestations in practice and their implications for official social work reports. It then presents a mock report informed by critical social work ideas and discusses its structure and contents. The mock report provides an example of how abstract notions central to critical social work can be actualized. The paper thus offers practitioners the opportunity for a richer discourse on the contribution of critical social work to direct practice with families and children.     

Varieties in developing sustainability: the case of the Israeli kibbutz

Kibbutz communities and organizations were originally structured to be egalitarian and democratic. The last two decades proved to be a major challenge for their sustainability due to a serious economic crisis. Many scholars have lamented the end of the kibbutz, some of them claiming that there is no place for utopias in the twenty-first century. Kibbutz communities were trying to survive within a turbulent economic and social environment. This article will attempt to analyse varieties in developing sustainability that were adopted by kibbutz communities. Focusing on the impact of the economic crisis, we will investigate processes of value change within the kibbutz, taking into consideration that the kibbutz does not exist in a vacuum but is rather embedded within a society that has undergone transformation processes from a socialistic to a capitalistic orientation. The article will look at different solutions that kibbutz communities have adopted and strategies that kibbutz members used in order to cope with this crisis. We will explain how these solutions and strategies are reflected in members' values and attitudes as well as taking into consideration in which areas value change was fast and in which it was slower. Our analysis will lead to a reflection on the different communitarian and non-communitarian models that might evolve in the kibbutz communities and their possible outcome. The discussion will focus on three dimensions of sustainability methods adopted by kibbutz communities that integrate value change, organizational change, and community processes.     

Participant recruitment and data collection through Facebook: the role of personality factors

As participant recruitment and data collection over the Internet have become more common, numerous observers have expressed concern regarding the validity of research conducted in this fashion. One growing method of conducting research over the Internet involves recruiting participants and administering questionnaires over Facebook, the world’s largest social networking service. If Facebook is to be considered a viable platform for social research, it is necessary to demonstrate that Facebook users are sufficiently heterogeneous and that research conducted through Facebook is likely to produce results that can be generalized to a larger population. The present study examines these questions by comparing demographic and personality data collected over Facebook with data collected through a standalone website, and data collected from college undergraduates at two universities. Results indicate that statistically significant differences exist between Facebook data and the comparison data-sets, but since 80% of analyses exhibited partial η^2?相似文献