Implied Preference for Seismic Design Level and Earthquake Insurance

Seismic risk can be reduced by implementing newly developed seismic provisions in design codes. Furthermore, financial protection or enhanced utility and happiness for stakeholders could be gained through the purchase of earthquake insurance. If this is not so, there would be no market for such insurance. However, perceived benefit associated with insurance is not universally shared by stakeholders partly due to their diverse risk attitudes. This study investigates the implied seismic design preference with insurance options for decisionmakers of bounded rationality whose preferences could be adequately represented by the cumulative prospect theory (CPT). The investigation is focused on assessing the sensitivity of the implied seismic design preference with insurance options to model parameters of the CPT and to fair and unfair insurance arrangements. Numerical results suggest that human cognitive limitation and risk perception can affect the implied seismic design preference by the CPT significantly. The mandatory purchase of fair insurance will lead the implied seismic design preference to the optimum design level that is dictated by the minimum expected lifecycle cost rule. Unfair insurance decreases the expected gain as well as its associated variability, which is preferred by risk-averse decisionmakers. The obtained results of the implied preference for the combination of the seismic design level and insurance option suggest that property owners, financial institutions, and municipalities can take advantage of affordable insurance to establish successful seismic risk management strategies.     

A sociolinguistic application of Bakhtin's authoritative and internally persuasive discourse

Through the use of two central Bakhtinian concepts, authoritative and internally persuasive discourse (word), this paper examines the tension between the ideology of linguistic hegemony as a source of power in the Greek public sphere and the condition of language shift faced by the Albanian‐speaking communities of modern Greece. I argue here that a cautious application of these two notions, which are relevant to linguistic ideology, can reveal crucial aspects of two processes: that of subordination to and that of questioning of the dominant linguistic ideology by local Albanian‐speaking communities. Thus, in language shift contexts, it is possible that no simple relations obtain that place social agents in unquestionable and easily predictable positions. Such an approach proves useful for the sociolinguistic study of threatened language communities.     

Perceptions of and Responses to Stigma

In the last 10 years, interest in the concept of stigma has grown remarkably throughout the social sciences. Today, stigma is an important topic that bridges many disciplines, including sociology, psychology, social psychology, and public health. This literature review primarily addresses perceptions of and responses to stigma from the insider's or target's perspective. The topics examined in this review include the following: defining stigma, public opinion and attitudes toward the stigmatized, measurement of perceptions of stigma and discrimination, the coping strategies employed by stigmatized persons to deal with stigma, the impact of stigma in terms of psychological and behavioral outcomes, explanations of coping strategies and outcomes, and strategies and interventions to reduce stigma. As many of the concerns faced by stigmatized persons are universal, what has been learned in research about one stigmatized group can provide insight into another. Promising directions for future stigma-related research are identified and discussed.     

Refined Inference on Long Memory in Realized Volatility

There is an emerging consensus in empirical finance that realized volatility series typically display long range dependence with a memory parameter (d) around 0.4 (Andersen et al., 2001; Martens et al., 2004). The present article provides some illustrative analysis of how long memory may arise from the accumulative process underlying realized volatility. The article also uses results in Lieberman and Phillips (2004, 2005) to refine statistical inference about d by higher order theory. Standard asymptotic theory has an O(n^-1/2) error rate for error rejection probabilities, and the theory used here refines the approximation to an error rate of o(n^-1/2). The new formula is independent of unknown parameters, is simple to calculate and user-friendly. The method is applied to test whether the reported long memory parameter estimates of Andersen et al. (2001) and Martens et al. (2004) differ significantly from the lower boundary (d = 0.5) of nonstationary long memory, and generally confirms earlier findings.     

No wonder social workers feel uncomfortable in court

The present article assesses the adversary systemper se and asks the question, Is there any place for courtroom antics and histrionics in cases involving children? Social workers are uncomfortable before the august body of thecourt, not because of any lack of education or knowledge on their part but because of the nature of the adversary process itself.