A new long-term survival model with dispersion induced by discrete frailty

Lifetime Data Analysis - Frailty models are generally used to model heterogeneity between the individuals. The distribution of the frailty variable is often assumed to be continuous. However, there...     

Does a universal non-contributory social pension make sense for rural China?

China’s pension reform during the past three decades has allowed a majority of China’s population to be covered by a pension scheme. Of particular note has been the New Rural Pension Scheme (NRPS), a voluntary programme introduced starting in 2009. One goal of our analysis is to assess that pension scheme, using a variety of sources of information including data drawn from recent (2013 and 2015) nationwide China Health and Retirement Longitudinal Surveys (CHARLS). Our analysis involves an exploration of differences between the generosity and structure of the NRPS and other pension schemes currently in place. We also explore the feasibility of reforming the current “quasi-social pension” component of the NRPS by substituting a universal non-contributory social pension pillar. In connection with our assessment of the NRPS, we note the unusually low benefit levels for rural China.     

Price bias and common practice in option pricing

Generally, the semiclosed-form option pricing formula for complex financial models depends on unobservable factors such as stochastic volatility and jump intensity. A popular practice is to use an estimate of these latent factors to compute the option price. However, in many situations this plug-and-play approximation does not yield the appropriate price. This article examines this bias and quantifies its impacts. We decompose the bias into terms that are related to the bias on the unobservable factors and to the precision of their point estimators. The approximated price is found to be highly biased when only the history of the stock price is used to recover the latent states. This bias is corrected when option prices are added to the sample used to recover the states' best estimate. We also show numerically that such a bias is propagated on calibrated parameters, leading to erroneous values. The Canadian Journal of Statistics 48: 8–35; 2020 © 2019 Statistical Society of Canada     

Inequality Assessment by Probabilistic Development Indices

Social Indicators Research - This paper analyses the Human Development Index (HDI) time series from 2010 to 2017. An alternative index is studied, which combines the same components of the HDI by...     

Myriad potential for mentoring: Understanding the process of transformational change through a gender equality intervention

This article contributes to understanding transformational change towards gender equality by examining the transformational change potential of a mentoring programme for women, a type of gender equality intervention both criticized and praised for its ability to bring about change. Drawing upon an empirical case study of a mentoring programme for women academics in a Dutch university, we explore three dimensions of transformational change: organizational members (i) discussing and reflecting upon gendered organizational norms and work practices; (ii) creating new narratives; and (iii) experimenting with new work practices. Our findings indicate five specific conditions that enable transformational change: cross‐mentoring, questioning what is taken for granted, repeating participation and individual stories, facilitating peer support networks and addressing and equipping all participants as change agents. We suggest that these conditions should be taken into account when (re)designing effective organizational gender equality interventions.     

Existence and Nash implementation of efficient sharing rules for a commonly owned technology

Suppose that a group of individuals owns collectively a technology which produces a consumption good by means of a (possibly heterogeneous) input. A sharing rule associates input contributions with a vector of consumptions that are technologically feasible. We show that the set of allocations obtained by any continuous sharing rule contains Pareto efficient allocations. We also present a mechanism that implements in Nash equilibrium the Pareto efficient allocations contained in an arbitrary sharing rule. Received: 29 June 1998/Accepted: 15 November 2000     

The Relationship Between Sense of Coherence and Career Thoughts

The authors examined the impact of sense of coherence on the career thought processes of a sample of college students. A. Antonovsky (1987) defined sense of coherence as the global orientation that the world is comprehensible, manageable, and meaningful. Study participants completed the Sense of Coherence Scale (A. Antonovsky, 1987) and the Career Thoughts Inventory (CTI; J. P. Sampson, G. W. Peterson, J. G. Lenz, R. C. Reardon, & D. E. Saunders, 1996). Multivariate tests indicated a medium relationship between sense of coherence and CTI Total and subscale scores; sense of coherence accounted for 14% of the variance. Univariate tests also indicated a medium relationship between sense of coherence and each subscale.     

A critical evaluation of the commodification thesis

A recurring theme across the social sciences is that non‐capitalist production is disappearing albeit slowly and unevenly, and is being replaced by a commodified economy in which goods and services are produced by capitalist firms for a profit under conditions of market exchange. In this paper, however, I evaluate critically this commodification thesis. Even in the heartland of commoditisation ‐ the advanced economies. Large economic spaces are identified where alternative economic relations and motives prevail. Rather than view them as leftovers of pre‐capitalist formations, this paper argues that they are the result of both the contradictions inherent in the structural shifts associated with the pursuit of commodification as well as the existence of‘cultures of resistance’, As such, they are viewed as 'spaces of hope’which highlight the demonstrable construction and practice of alternative social relations and logic's of work outside profit‐motivated market‐oriented exchange.