Racial and regional inequalities in school resources relative to their educational outcomes

A definition of inequalities in school inputs weighted according to their importance for educational and outputs is applied to the data from the 1966 Educational Opportunities Survey. The extent and source of inequalities due to race and region are examined. The results are discussed in terms of findings from more restricted definitions of inequalities, and practical policy considerations.     

DIVERSIFICATION GAINS FROM INCLUDING REAL ESTATE IN MIXED-ASSET PORTFOLIOS*

Diversification gains in mean-variance efficiency derived from including real estate in financial asset portfolios are examined. Optimal financial and mixed-asset portfolios were generated by selecting from an investment universe including several distinct financial and real estate media. Deficiencies of previous studies were overcome by employing data with improved representativeness and comparability. The efficient mixed-asset portfolios dominated the efficient financial asset portfolios implying that purely financial asset diversification is inefficient. The optimal mixed-asset portfolio prescribed that approximately two-thirds of the investment wealth be allocated to real estate and one-third to the financial media.     

SCHEDULING PARALLEL PROCESSORS WITH SETUP COSTS AND RESOURCE LIMITATIONS

An integer linear programming model is presented for the scheduling of n products on m identical machines. The particular problem studied is one that occurs frequently in the fiberglass and textile industries. The model incorporates setup costs, lost production costs, and overtime costs. Due to the structure of the model, integer solutions can be obtained by explicitly restricting only a small number of the integer variables. This allows those responsible for scheduling to solve realistically sized problems in an efficient manner. Computational results are provided for a set of generated test problems.     

A COMPARATIVE ANALYSIS OF THE PREDICTIVE ABILITY OF ADAPTIVE FORECASTING,RE-ESTIMATION,AND RE-IDENTIFICATION USING BOX-JENKINS TIME-SERIES ANALYSIS ON QUARTERLY EARNINGS DATA

This paper assesses the predictive ability of the Box-Jenkins methodology when utilized in an on-going setting. Three procedures are utilized to update the original forecasts generated from the Box-Jenkins models: adaptive forecasting, re-estimation, and re-identification. The results indicate that constant monitoring of the structure and parameters of the time-series models are necessary through time. It appears that adaptive forecasting techniques are insufficient to update BJ time-series models when used in conjunction with quarterly earnings data. Re-estimation is recommended as each new observation becomes available. Re-identification procedures are recommended on a less frequent basis.     

Effects of a Punitive Environment on Children's Executive Functioning: A Natural Experiment

Few studies have examined the influence of environmental factors on children's executive functioning (EF) performance. The present study examined the effects of a punitive vs. non‐punitive school environment on West African children's EF skills. Tasks included a ‘cool’ (relatively non‐affective) and ‘hot’ (relatively affective/motivational) version of three EF tasks: delay of gratification; gift delay; and dimensional change card sort. Children had more difficulties with the hot versions of the tasks than the cool versions, and older children outperformed younger children. After controlling for verbal ability (Peabody picture vocabulary test‐third edition), a consistent pattern of interaction between school and grade level emerged. Overall, kindergarten children in the punitive school performed no differently than their counterparts in the non‐punitive school. However, in grade 1, children in the punitive school performed significantly worse than their counterparts in the non‐punitive school. These results point to the need to consider interactions among discipline style, age, and internalization processes of self‐regulation to better understand environmental influences on EF development.     

Do military veteran and civilian students function differently in college?

Objective: The authors sought to assess military veterans' functioning in college by comparing their experience with that of civilian students. Participants: The study, conducted from April 2012 to February 2013, included 445 civilian and 61 student service member/veteran (SSM/V) undergraduates, drawn from a community college and two 4-year Catholic colleges, in Pennsylvania, New Jersey, and New York. Methods: Participants completed anonymous online surveys. Six areas of functioning in transition to college were examined: Health, Fitting In, Emotional Adjustment, Productivity, Perceived Career Support, and Social Engagement. Results: Students, both SSM/V and civilian, with past exposure to a potentially traumatic event fit in worse than students without such exposure. Past exposure to trauma was associated with poorer emotional adjustment in civilian students, but not in SSM/V. Conclusions: Implications of results were discussed.     

Modeling Correlated Discrete Uncertainties in Event Trees with Copulas

Modeling the dependence between uncertainties in decision and risk analyses is an important part of the problem structuring process. We focus on situations where correlated uncertainties are discrete, and extend the concept of the copula‐based approach for modeling correlated continuous uncertainties to the representation of correlated discrete uncertainties. This approach reduces the required number of probability assessments significantly compared to approaches requiring direct estimates of conditional probabilities. It also allows the use of multiple dependence measures, including product moment correlation, rank order correlation and tail dependence, and parametric families of copulas such as normal copulas, t‐copulas, and Archimedean copulas. This approach can be extended to model the dependence between discrete and continuous uncertainties in the same event tree.     

Noninformative priors for linear combinations of normal means with unequal variances

For normal populations with unequal variances, we develop matching priors and reference priors for a linear combination of the means. Here, we find three second-order matching priors: a highest posterior density (HPD) matching prior, a cumulative distribution function (CDF) matching prior, and a likelihood ratio (LR) matching prior. Furthermore, we show that the reference priors are all first-order matching priors, but that they do not satisfy the second-order matching criterion that establishes the symmetry and the unimodality of the posterior under the developed priors. The results of a simulation indicate that the second-order matching prior outperforms the reference priors in terms of matching the target coverage probabilities, in a frequentist sense. Finally, we compare the Bayesian credible intervals based on the developed priors with the confidence intervals derived from real data.     

Fathers’ Imprisonment and Mothers’ Multiple-Partner Fertility

We consider the intersection between two striking U.S. trends: dramatic increases in the imprisonment of fathers and increases in the proportion of mothers who have children with more than one partner (multiple-partner fertility, or MPF). Using matched longitudinal administrative data that provide unusually comprehensive and accurate information about the occurrence and timing of imprisonment, fertility, and MPF for the population of the state of Wisconsin, we consider the relationship between paternal imprisonment and MPF among unwed mothers. Employing discrete-time event history analysis with multinomial logistic regression, we model the occurrence and timing of the mother’s second birth, distinguishing between a birth with the same father and a birth with a different father, and distinguishing between current imprisonment and a history of imprisonment. We find that current imprisonment is associated with an increased likelihood of MPF and a decreased likelihood of fertility with the same father (compared with no additional birth) and that a history of imprisonment is associated with increased MPF in some models but not in our preferred model. To control for unobserved heterogeneity among mothers and assess the evidence of a causal effect of fathers’ imprisonment, we also employ the case-time-control method, a fixed-effects method for the analysis of nonrepeated events. Results suggest that fathers’ current imprisonment may increase mothers’ MPF. Policy implications are discussed.