Wealth: Determinants of Savings Net Worth and Housing Net Worth of Pre-Retired Households

The objectives of this study are to determine effects of household members' characteristics, financial resources, and attitude toward intergenerational support on change in savings net worth and change in housing net worth. Subsamples of White respondents, Black respondents, and Hispanic respondents were analyzed to identify the effects of race or ethnicity on the dependent variables. Attitude toward intergenerational support was the intervening variable. Change in labor income had a positive impact on change in savings net worth for all three racial or ethnic groups. An additional child in a household and an older age of the household head were likely to decrease the change in savings net worth. Effects of the remaining variables differed by subsample. The effects of labor and nonlabor income were different for the change in savings net worth but not for the change in housing net worth. Some different effects for variables across the three racial or ethnic groups were noted.     

Correcting the Errors: Volatility Forecast Evaluation Using High‐Frequency Data and Realized Volatilities

We develop general model‐free adjustment procedures for the calculation of unbiased volatility loss functions based on practically feasible realized volatility benchmarks. The procedures, which exploit recent nonparametric asymptotic distributional results, are both easy‐to‐implement and highly accurate in empirically realistic situations. We also illustrate that properly accounting for the measurement errors in the volatility forecast evaluations reported in the existing literature can result in markedly higher estimates for the true degree of return volatility predictability.     

Using Surveys in Public Participation Processes for Risk Decision Making: The Case of the 2003 British GM Nation? Public Debate

This article takes as its case study the “GM Nation?” public debate, a major participation process on the commercialization of agricultural biotechnology, which occurred in Britain during the summer of 2003. We investigate possible self‐selection biases in over 36,000 open questionnaire responses on the risks and benefits of genetically modified crops and food obtained during GM Nation? A comparison sample of equivalent responses from a statistically representative sample (n= 1,363) of the British general public obtained shortly after the conclusion of the debate is reported. This comparison shows that the GM Nation? open responses were indeed not fully representative of British “public opinion” regarding agricultural biotechnology. Rather, such opinion is not a unitary whole, but fragmented, with considerable ambivalence coexisting alongside outright opposition to GM agriculture. The methodological implications for multistage participation processes are discussed: in particular, the need to anticipate outcomes of complex design decisions, and to include representative public surveys as standard where measures of broader public attitudes to risk are an important objective.     

Third Way Social Governance: Where is the State?

The ‘Third Way’ politics of Blair's New Labour government of the United Kingdom has popularised a number of policy reforms centred on a supposedly new discourse of ‘devolution’, ‘inclusion’, ‘partnerships’ and ‘community’. These notions reflect a re‐emergence of the ideas and values of civil society, participation and localism. Key drivers of this discourse are: new conceptions of citizenship; a retreat from the social state to a politics of community; and a questioning of both ‘big‐state’ interventionist and competitive market approaches to public policy. These trends have resonance in the Australian context. The welfare reform agenda of the Australian Commonwealth government together with community building and engagement initiatives of State governments have been sites for these policy directions. Much of the debate surrounding these policies excludes or minimises the fundamental role of an active state by focusing on an uncritical conception of community. Drawing on the notion of network governance, an alternative framework for re‐conceptualising state‐community relations and delivering improved community outcomes is posited. The paper concludes by suggesting possible social governance methodologies for actioning this framework.     

统计数据的使用与误用

不要依赖统计分析,除非你了解其中的陷阱缺陷比率正在下降吗?顾客满意度在提高吗?你查看数字,却并不确定是否该相信它们。你并不担心存在欺骗或操控,而是不知道在多大程度上信任统计数据。谨慎从事,是有道理的。哈佛商业院     

The minimum regularized covariance determinant estimator

Statistics and Computing - The minimum covariance determinant (MCD) approach estimates the location and scatter matrix using the subset of given size with lowest sample covariance determinant. Its...     

Youth Justice

This paper illustrates how mindfulness and reflection exercises can be integrated into the teaching and learning of active listening skills, an integral component of relationship skills training. This pedagogy was first trialled on a small cohort of 15 students and the improved version was applied with a second cohort of 53 students. Through the mindfulness and reflection exercises which were built in throughout the module, students identified the three most prominent ‘bad habits’ that hindered active listening as ‘mind wandering’, ‘multi-tasking’ while listening and ‘thinking ahead’. The mindfulness and reflection exercises appeared to bring the usually-unnoticed ‘bad habits’ into awareness so that a conscious effort could be channelled into preventing them from interfering with relationship building. This expanded awareness facilitated the strengthening of ability to observe oneself in interactions. This paper proposes a combination of exercises that expand students' awareness of their own habitual listening styles, together with skills training through conventional methods of role play, video-taping and skills drilling, in order to strengthen motivation to change and bring about deeper learning.