Further Results on Order Statistics Generated by Two Simulation Methods

Uniform order statistics generated by two simulation methods are compared by means of Pitman’s measure of closeness. This measure, as a probability, is shown to be asymptotically 1/2. Some results are also established for fixed points of the cumulative distribution function (CDF) for a uniform order statistic. These fixed points are important for calculations involving the joint distribution of these order statistics.     

Financial Well-Being Components

The reported study advances psychological theory of well-being by offering deeper insight into the factors underlying financial well-being (FWB) in particular. An empirical investigation conducted into the determinants of FWB for two population groups, young workers and families with young children in the UK. Their financial decisions have important consequences for their households. A substantial internet survey of 654 people was conducted, which identified the most significant drivers of FWB or satisfaction, which is analogous to the measurement of subjective well-being in the domain of healthcare. The most significant finding from the regression is the significance for both groups of having control over their finances; control is even more important than the amount of available money for this population. A conclusion of the research is that the FWB would be increased if individuals could experience a greater sense of overall control of their money. In particular, financial institutions could provide products and processes to improve the FWB of their customers. There are also potential policy implications from the benefits of lower unsecured debt and increased savings to mitigate unexpected life events.     

Books received

A Wider Perspective Needed Avraham Greenbaum (ed.), Minority Problems in Eastern Europe Between the World Wars, with Emphasis on the Jewish Minority, introduced by Edward Allworth, Hebrew University of Jerusalem, Institute of Advanced Studies. Jerusalem, 1988. pp.viii, 163.

The Jokes of Oppression David A. Harris and Izrail Rabinovich, The Jokes of Oppression: The Humour of Soviet Jews. Northvale, NJ and London: Jason Aronson, 1988. 275pp. $22.50.

A Pleasant Surprise Franti?ek Mi?eje, Revolu?nou Cestou. Spomienky na roky 1938–1948 (On the Path of Revolution: Reminiscences of the Years 1938–1948.) Bratislava: Pravda publishers on behalf of the Institute of Marxism‐Leninism of the Central Committee of the Communist Party of Slovakia, 1988. 232 pp. Illus. Bibl. Index. Kcs 19.00.     

General assistance among U.S. cities: A test of alternative hypotheses

Using 1980 census data, this study seeks to explain variations in race‐specific measures of general assistance among 109 U.S. cities. Four hypotheses (derived from developmental, conflict, and human ecological theories) are developed as potential explanations of welfare recipiency rates and payment levels. Three control variables (southness, population size, and education) are included in the analysis. Ordinary least squares (OLS) regression analysis reveals that for blacks, poverty, level of manufacturing employment (1970–1980), and southness are significant predictors of recipiency rates; whereas per capita revenue, segregation, southness, and population size are significant predictors of mean payment. For whites, poverty, percent white, and southness are significant predictors of welfare rates; whereas per capita revenue, percent white, segregation, and southness are significant predictors of mean payment. The analysis provides partial support for the need hypothesis in explaining General Assistance recipiency with respect to both races. It also provides moderate support for the segregation hypothesis and weak support for the functional transformation hypothesis in explaining General Assistance recipiency for blacks.