A new approach to stock price modelling and the efficiency of the Italian stock exchange

In this paper, we propose a new model of asset prices which takes account of the investment strategies of three different kinds of agents: the market-makers, who operate rationally on the basis of the asset fundamentals, the smart buy-and-sell agents, who intervene when the prices reach particular levels and the non-smart buy-and-sell agents, who trade infrequently, mainly following psychological motivations. The different behavior of these groups of agents can determine temporary inefficiences on financial markets and we show that, by considering these inefficiences, it is possible to improve forecasting of asset prices.     

Using an old tool to create a new compact in health care

Recent research reveals that much of the unwritten compact that has served for decades between medical staff and hospital administrators no longer holds. Learn how using three types of reciprocity can strengthen and rebuild this compact.     

Optimal design for epidemiological studies subject to designed missingness

In large epidemiological studies, budgetary or logistical constraints will typically preclude study investigators from measuring all exposures, covariates and outcomes of interest on all study subjects. We develop a flexible theoretical framework that incorporates a number of familiar designs such as case control and cohort studies, as well as multistage sampling designs. Our framework also allows for designed missingness and includes the option for outcome dependent designs. Our formulation is based on maximum likelihood and generalizes well known results for inference with missing data to the multistage setting. A variety of techniques are applied to streamline the computation of the Hessian matrix for these designs, facilitating the development of an efficient software tool to implement a wide variety of designs.     

Revealing representations of jazz in the Weimar Republic

While in America and elsewhere jazz made its debut in the middle and late 1910s, the Weimar Republic (1919–1933) remained relatively isolated from jazz until 1920. Touring groups opted for travel in economically and politically stable areas. Until the first live jazz concert in 1924, Germans learned of jazz through sheet music, recordings, and soldiers returning from World War I. Lasting records of jazz culture exist due to the advances in sound recording, photography, and publishing. Jazz images from the Weimar Republic offer a glimpse into the triangular relationship of ethnic African and African-American jazz artists with jazz culture and with German audiences. Many images de-emphasize the African-American jazz artists by using stereotypical tropes, masking the artist, and avoiding physical portrayals of the artist. These techniques reflect the adaptation of jazz culture for audiences within a nation recovering economic and political stability.     

Beyond Regional Institutions: Widening Unemployment Differentials in Italy

Abstract. Building on Layard and Jackman's framework, we propose a simple model to analyse the relation between labour productivity and unemployment differentials in Italy and present some panel data evidence to support the theoretical predictions of the model. The empirical analysis strongly suggests that the productivity differential is one of the main factors driving the dynamics of the unemployment differential in Italy.     

Specialist police units and the joint investigation of child abuse

The last ten years have witnessed a significant shift in the police response to investigations of child abuse. One of the most ‘visible’ manifestations of this shift has been the establishment of specialist units where children can be interviewed, medical examinations conducted and, in some cases, overnight accommodation made available to children and their non-abusive carers. The history of these units in Scotland is summarized in this article, together with a brief outline of their remit and some of the current issues facing them. A closer examination of the way in which Scottish units have responded to the issue of joint child abuse investigations with social workers is made, drawing on evidence from research conducted in Scotland.     

Exploring the care effects of multiple factors on the educational achievement of children looked after at home and away from home: an investigation of two Scottish local authorities

This paper reports the findings of a research project which explored the care factors that influence the educational achievement of looked‐after children. The project was innovative because it focused on children looked after at home and away from home. A mixed‐methods strategy was adopted to analyse data from two large Scottish local authorities. The project developed, what is to date, the largest dataset which includes variables for one‐fifth of children discharged from care in Scotland over a 5‐year period. The qualitative element of the project collected in‐depth data on the care and education experiences of looked‐after children and care leavers. The overall finding was that looked‐after children perform less well academically than their counterparts in the general school population. The empirical data indicated that factors such as placement type, reason for becoming looked after and age on becoming looked after were significant in determining educational achievement. Empirical results further indicated that looked‐after children suffered from discrimination and social exclusion in many areas of their lives, including school and where they lived.     

An Indigenous Knowledges Perspective on Valid Meaning Making: A Commentary on Research with the EDI and Aboriginal Communities

Offering an Indigenous perspective, this commentary discusses collaborative research, shared meaning making, and knowledge building specific to child development, and reflects on social, cultural, and historical aspects that influence these processes. Drawing upon experiences of developing a collaborative research approach with which to engage Aboriginal communities to appreciate, understand, and potentially use the Early Development Instrument (EDI; Janus and Offord in Can J Behav Sci 39:1–22, 2007), a teacher-administered rating scale on kindergarten children’s development, the commentary focuses on five key questions relevant to research processes undertaken with Indigenous Peoples, and the importance of social, ethical, and cultural aspects of validity: How do Indigenous epistemologies and knowledges inform and influence research processes that utilize the EDI as a measurement tool? How can the EDI be used as a measurement tool within a research process that fosters the thriving of children and their families in Aboriginal communities while promoting Indigenous Peoples’ self-determination? In what ways do local, Indigenous cultural and ethical considerations inform aspects of validation research pertaining to the EDI? How can (Western mainstream) universities build research capacity that is informed by Indigenous knowledges and ways of being, doing, and knowing? What are the potential consequences of using normative research tools—such as the EDI—as a method to build knowledge on children’s development with Indigenous Peoples and Aboriginal communities? This commentary suggests that from an Indigenous perspective, research on child development is valid and meaningful knowledge if it is clearly linked to the children’s and families’ wellbeing according to local cultural norms and values.     

The Cultural Context of Nondisclosure of Alcohol-Involved Acquaintance Rape Among Asian American College Women: A Qualitative Study

With high college enrollment and increasing alcohol use, Asian American (AA) college women may be at particular risk for experiencing alcohol-involved acquaintance rape. Although AA women have expressed the weakest intentions to report rape when compared to other ethnic groups, cultural factors influencing these intentions remain unexamined. Guided by grounded theory, 17 self-identified AA college women were interviewed about how the average AA college woman would respond to an alcohol-involved acquaintance rape. Despite awareness of benefits of disclosing rape, participants emphasized that nondisclosure would be the normative response. Three themes emerged from participants: institutional, sociocultural, and psychological contexts of nondisclosure. At an institutional level, nondisclosure referenced mental health and police services, which included Asian stereotypes and mistrust of police. Within a sociocultural context, rape nondisclosure focused on negative consequences on relationships with parents and, to a lesser extent, on friendships. Emotional avoidance and not labeling an acquaintance rape as rape were psychological strategies for rape nondisclosure. Participant's conceptualizations of mental and physical health concerns, specifically post-rape concerns, were framed within sociocultural/macrostructural contexts and may not match that of the more individualistic U.S. mainstream conceptualizations of health. Culturally sensitive rape education may be more effective in increasing rape prevention and support.