INDIVIDUAL RISK ATTITUDES: MEASUREMENT,DETERMINANTS, AND BEHAVIORAL CONSEQUENCES

This paper studies risk attitudes using a large representative survey and a complementary experiment conducted with a representative subject pool in subjects' homes. Using a question asking people about their willingness to take risks “in general”, we find that gender, age, height, and parental background have an economically significant impact on willingness to take risks. The experiment confirms the behavioral validity of this measure, using paid lottery choices. Turning to other questions about risk attitudes in specific contexts, we find similar results on the determinants of risk attitudes, and also shed light on the deeper question of stability of risk attitudes across contexts. We conduct a horse race of the ability of different measures to explain risky behaviors such as holdings stocks, occupational choice, and smoking. The question about risk taking in general generates the best all‐round predictor of risky behavior.     

Efficient nonanthropocentric nature protection

This paper analyzes nature protection by a social planner under different ‘utilitarian’ social welfare functions. For that purpose we construct an integrated model of the economy and the ecosystem with explicit consideration of nonhuman species and with competition between human and nonhuman species for land and prey biomass. We characterize and compare the efficient allocations when social welfare is anthropocentric (only consumers have positive welfare weights), when social welfare is biocentric (only nonhuman species have positive welfare weights) and when social welfare is nonanthropocentric (all species have positive welfare weights). Not surprisingly, biocentric social welfare calls for suspending all economic activities. It is more important, however, that both anthropocentrism and nonanthropocentrism make the case for nature protection through different channels, though. Our analysis suggests that one may dispense with the concept of nonanthropocentric social welfare provided that in the anthropocentric framework the consumers' intrinsic valuation of nature is properly accounted for.

---

Pride, empowerment, and return to work: on the significance of promoting positive social emotions among sickness absentees

Sickness absence is a great public health problem and there is a lack of knowledge concerning the hows and whys of success or failure in promoting return to work of sick-listed persons. Discussions of and research into social and psychological aspects of this problem area are in need of theoretical contextualisation. In this paper it is suggested that theories of social emotions may be useful, and that the concept of empowerment can be applied provided that it is reasonably well defined. The notions of pride/shame and empowerment are elucidated and discussed, and it is shown that they can be related in the context of research into emotional dimensions of sickness absentees' experiences of the rehabilitation process in a way that may help to guide empirical studies. A simple model of hypothetical relations between pride/shame, empowerment/disempowerment, work ability, health, and return to work is sketched.     

Die Wirkung ausländischer Direktinvestitionen auf die Beschäftigung im Heimatmarkt: Eine empirische Analyse des deutschen Mittelstands

Outbound FDI of German SMEs is often assumed to have a negative impact on domestic employment due to job replacement into low wage countries. In this context research often disregards, that FDI can be of horizontal or vertical nature and therefore has different effects on domestic employment. We analyze domestic employment effects using a sample of 1.106 German SMEs. The results show, that a differentiated view is appropriate and necessary to generate a more complete picture of the effects of FDI on job development in the domestic market. Whereas horizontal FDI has complementary effects on domestic employment, vertical FDI is linked to substitutional employment effects.     

Gerechtigkeit: Die Wahrheit der Demokratie

It seems reasonable, that Badiou declares, it should be possible to find a fixed point in the universe, from which democracy and social justice could be justified in away to which truth could be attributed. For, the point of departure can only be found in the human life-form. And the human life-form must be understood as a fact. For facts, however, we claim truth. From the truth of the human life-form a second statement of truth can be derived: the constructivity of the social order. This, finally, leads to the postulate of the democratic order of society and its justice. For philosophers it might seem unthinkable to derive a normative postulate from a fact. However, in an epistemological refined thinking in a world that has become secular the procedure is not unavoidable. Furthermore it makes good sense to declare that the human life-form (a fact) demands democracy (a normative postulate).     

Cross-National Measurement Invariance of the Teacher and Classmate Support Scale

The cross-national measurement invariance of the teacher and classmate support scale was assessed in a study of 23202 Grade 8 and 10 students from Austria, Canada, England, Lithuania, Norway, Poland, and Slovenia, participating in the Health Behaviour in School-aged Children (HBSC) 2001/2002 study. A multi-group means and covariance analysis supported configural and metric invariance across countries, but not full scalar equivalence. The composite reliability was adequate and highly consistent across countries. In all seven countries, teacher support showed stronger associations with school satisfaction than did classmate support, with the results being highly consistent across countries. The results indicate that the teacher and classmate support scale may be used in cross-cultural studies that focus on relationships between teacher and classmate support and other constructs. However, the lack of scalar equivalence indicates that direct comparison of the levels support across countries might not be warranted.     

The justice of earnings in dual-earner households

Over recent decades, the rise in female labor market participation and the increase in “atypical” employment arrangements have brought about a steady decline in traditional “male breadwinner” households and an increasing number of dual-earner households. Against this backdrop, the present paper investigates how different household contexts—ranging from traditional “male breadwinner” households to those challenging this model through joint contributions to household income—affect household members’ subjective evaluations of the justice of their personal income. In the first step, we derive three criteria used by individuals to evaluate the justice of personal earnings: compensation for services rendered, coverage of basic needs, and the opportunity to earn social approval. In the second step, we apply considerations from household economics and new approaches from gender research to explain why men's and women's evaluations of justice are determined to a considerable degree by the specific situation within their household. The assumptions derived regarding gender-specific patterns in justice attitudes are then tested on longitudinal data from the German Socio-Economic Panel Study (SOEP). The results support our central thesis that dual-earner households both reinforce and undermine gender-specific patterns in the evaluation of personal earnings. These patterns are undermined because women in dual-income households tend to have higher income expectations that challenge the existing gender wage gap. At the same time, gender-specific patterns are reinforced because men evaluate the justice of their personal income in relation to their ability to fulfill traditional gender norms.     

Estimation of structural impulse responses: short-run versus long-run identifying restrictions

There is evidence that estimates of long-run impulse responses of structural vector autoregressive (VAR) models based on long-run identifying restrictions may not be very accurate. This finding suggests that using short-run identifying restrictions may be preferable. We compare structural VAR impulse response estimates based on long-run and short-run identifying restrictions and find that long-run identifying restrictions can result in much more precise estimates for the structural impulse responses than restrictions on the impact effects of the shocks.     

Variable selection in linear regression analysis with alternative Bayesian information criteria using differential evaluation algorithm

In statistical analysis, one of the most important subjects is to select relevant exploratory variables that perfectly explain the dependent variable. Variable selection methods are usually performed within regression analysis. Variable selection is implemented so as to minimize the information criteria (IC) in regression models. Information criteria directly affect the power of prediction and the estimation of selected models. There are numerous information criteria in literature such as Akaike Information Criteria (AIC) and Bayesian Information Criteria (BIC). These criteria are modified for to improve the performance of the selected models. BIC is extended with alternative modifications towards the usage of prior and information matrix. Information matrix-based BIC (IBIC) and scaled unit information prior BIC (SPBIC) are efficient criteria for this modification. In this article, we proposed a combination to perform variable selection via differential evolution (DE) algorithm for minimizing IBIC and SPBIC in linear regression analysis. We concluded that these alternative criteria are very useful for variable selection. We also illustrated the efficiency of this combination with various simulation and application studies.