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.     

Politics of geographic exclusion: deinstitutionalization,hegemony and persons with intellectual disability in Israel

Deinstitutionalization is a core policy for the development of services for people with intellectual disabilities (ID) in western countries. Nonetheless, although a western country, deinstitutionalization is not well advanced in Israel. In order to shed light on this phenomenon, we explore the hegemony of ID as reflected in Israeli legislation. The analysis shows a biomedical hegemony; ID is depicted as a form of medical and social deviance. Israel’s legislation reflects paternalistic views of persons with ID, who are largely seen as vulnerable objects of pity, to be cared for and protected.     

COMMON COMPONENTS OF RISK AND UNCERTAINTY ATTITUDES ACROSS CONTEXTS AND DOMAINS: EVIDENCE FROM 30 COUNTRIES

Attitudes towards risk and uncertainty have been indicated to be highly context‐dependent, and to be sensitive to the measurement technique employed. We present data collected in controlled experiments with 2,939 subjects in 30 countries measuring risk and uncertainty attitudes through incentivized measures as well as survey questions. Our data show clearly that measures correlate not only within decision contexts or measurement methods, but also across contexts and methods. This points to the existence of one underlying “risk preference”, which influences attitudes independently of the measurement method or choice domain. We furthermore find that answers to a general and a financial survey question correlate with incentivized lottery choices in most countries. Incentivized and survey measures also correlate significantly between countries. This opens the possibility to conduct cultural comparisons on risk attitudes using survey instruments.     

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.     

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.     

Art Without A Market: Creating Artistic Value In A Provincial Art World

Symbolic interactionism is defined as the study of social acts and social objects. Paintings are social objects whose value is almost entirely created in the social acts called art worlds. Important art worlds are currently organized as art markets, in which art is created, exhibited, bought, sold and discussed by artists, museums, dealers, collectors, and critics. In St. Louis, where fieldwork was done, the art market is marginal; art schools and faculty artists replace dealers, collectors, museums, galleries, and critics in the local production of art, the creation of art value, and the determination of artistic status.     

Are antidepressant and antipsychotic drug trials registered? A cross-sectional analysis of registration and reporting of methodologic characteristics

Introduction: In 2005, the International Committee of Medical Journal Editors (ICMJE) proposed that all submitted trials in all 11 member journals must be prospectively registered in order to be considered for publication. Registering drug trials was meant to reduce the likelihood of selective reporting. The aim was to determine the proportion of antipsychotic and antidepressant trials that were registered.

Methods: We searched in Pubmed for all randomized controlled trials of any antidepressant or antipsychotic published between July and December 2014. The primary objective was to determine the proportion of trials that were registered. Secondary objectives included comparing the reporting of methodological details and positive study findings between registered and unregistered trials.

Results: Of the 67 studies identified, 58% were registered. 75% of the antipsychotic trials and 51% of the antidepressant trials were registered, respectively. Registered trials were more likely to report important methodological details associated with risk of bias in RCTs. There was no significant difference in trials reporting positive outcomes for the study intervention between registered and unregistered trials.

Conclusion: Approximately 60% of published antidepressant and antipsychotic drug trials during July to December 2014 were registered. Unregistered trials were less likely to report important methodological details.     

Women,Welfare and Civil Society Organizations: Creating an Alternative Women's Welfare Sphere in Israel

This article examines the phenomenon of Israeli civil society organizations (CSOs) providing services to women as part of the creation of an alternative women's welfare sphere in Israel in recent years, and its influence upon the welfare state and women. The creation and the existence of the women's civil society sphere can be seen as part of a move by the Israeli welfare state towards a liberal‐style economic regime. The article examines the services and mode of operation of fourteen organizations offering welfare, health and educational services to women in Israel, using a qualitative research method. The study identifies four traits characterizing these organizations: their loose connections with the welfare state, the use of sectoral and selective criteria determining eligibility for their services, the mirroring of internal dynamics of the community and its response to gender issues, and the CSOs' holistic, sporadic and unprofessional services. The analysis highlights the gender dimensions of civil society organizations, the characteristics of structure and content of the services they offer, and the role and place of civil society organizations operating parallel to the welfare state. It sheds light on the complex nature of this sphere and its services, which contribute to the empowerment and improvement of women's lives but, simultaneously, strengthen and reinforce their exclusion and marginalization.