Risk Aversion and Self-Insurance-cum-Protection

Self-insurance and self-protection have been discussed separately in the literature. However, as observed in practice, many actions individuals take to modify a potential loss serve both as self-insurance and as self-protection. Given this practical importance of self-insurance-cum-protection activities, this paper examines the effect of increased risk aversion on such activities. The analysis shows that the effect depends in part on the shape of the loss function and that of the probability function.     

ESTIMATING DYNAMIC EULER EQUATIONS WITH MULTIVARIATE PROFESSIONAL FORECASTS

Dynamic Euler equations restrict multivariate forecasts and so can be estimated and tested using the predictions of professional forecasters. We illustrate this novel, empirical method by studying the links between forecasts of U.S. nominal interest rates, inflation, and real consumption growth since 1981. Using forecast data for both returns and macroeconomic fundamentals exploits the complete panel of forecasts from the Survey of Professional Forecasters, which yields 3,400 observations, many more than the 117 quarterly time‐series observations. Harnessing the full panel enhances precision in testing asset‐pricing models and may avoid aggregation bias. We find clear evidence for the Fisher effect but mixed evidence of a relationship between expectations of real interest rates and real consumption growth. (JEL E17, E21, E43)     

计算机化过程中辅助资产与竞争优势的关系研究

本文探讨先期采用EDI与竞争优势之间的关系,辅助资产也作为变量被引入研究.数据分析结果表明,先期采用EDI的公司没有获得竞争优势,而辅助资产对成本削减、讨价还价能力增强、先发优势与协同效益的作用显著.     

INVESTING IN HEALTH: THE LONG‐TERM IMPACT OF HEAD START ON SMOKING

Head Start is a comprehensive, early childhood development program designed to augment the human capital and health capital levels of disadvantaged children. Evaluations of Head Start have tended to focus on cognitive outcomes; however, there is increasing recognition that other important outcomes can be influenced by participation. This article evaluates the long‐term impact of Head Start participation on smoking behavior in young adulthood by comparing the behavior of adults who attended Head Start with those of siblings who did not. We find that participation in Head Start reduces the probability that an individual smokes cigarettes as a young adult. (JEL I12, I28, I38)     

COMPARING THE EFFECTIVENESS OF REGULATION AND PRO‐SOCIAL EMOTIONS TO ENHANCE COOPERATION: EXPERIMENTAL EVIDENCE FROM FISHING COMMUNITIES IN COLOMBIA

This paper presents the results from a series of framed field experiments conducted in fishing communities off the Caribbean coast of Colombia. The goal is to investigate the relative effectiveness of exogenous regulatory pressure and pro‐social emotions in promoting cooperative behavior in a public goods context. The random public revelation of an individual's contribution and its consequences for the rest of the group leads to significantly higher public good contributions and social welfare than regulatory pressure, even under regulations that are designed to motivate fully efficient contributions. (JEL C93, H41, Q20, Q28)     

这些方法让你成为人生赢家

正如果你想改变你人生中的某一方面,不管是去创业还是减肥或者移民,以下8条建议都能帮助你达到你的目标,得到自己想要的,最终成为一名人生赢家。不要在意他人的眼光我知道不去顾及他人的眼光是一件很难的事,但是一旦你做到了你的人生将发     

ALTERNATIVE PATHS TO PARENTHOOD: IVF OR CHILD ADOPTION?

This article analyzes the effects of child adoption on the utilization of assisted reproductive technology (ART) in the United States. Using state‐level longitudinal data for 1999–2006, we show that ART use is responsive to changes in adoption markets. After controlling for state‐specific fixed effects, our estimates reveal that a 10% increase in adoptions leads to a 1.3%–1.5% decrease in the number of ART cycles performed. The responsiveness is higher when we consider infant adoptions, adoptions by older women, and international adoptions, while there is no substitutability between ART and adoption of related children. (JEL I11, J13, J18)     

AN ECONOMETRIC ANALYSIS OF CHARITABLE GIVING WITH INTERDEPENDENT PREFERENCES

Many economists and social scientists have conjectured that individual gifts to charity may be interdependent. This paper explores empirically how an individual's charitable contributions may be affected by the giving of others in a "reference group" of similar individuals. We find modest evidence of interdependence of preferences through these reference groups, although the aggregate effects are not large. Hence, we conclude that the inferences from standard models, which ignore interdependence of preferences, are not likely to be misleading. ( JEL H31, H41, D12)     

Watergate and the 1974 Congressional Elections

Strong, if delayed, public reactions to the Watergate scandalsare documented through examination of Gallup and Harris pollresults. Analysis of panel data (N = 181) collected before,during and after the major Watergate revelations, however, suggestthat beliefs about Nixon's involvement in the scandal had littlerelationship to 1974 political behaviors. Some evidence is providedthat whom or what the voters blamed for the scandal beyond Nixondid influence the 1974 elections to some extent     

Classifying Undecided Voters in Pre-Election Polls

The treatment of "don't know", "no opinion," or other nsonsubstantiveresponses is a problem in many consumer research surveys. Thispaper looks at the problem in the context of 1980 presidentialelection opinion polls. During the campaign, a relatively largeproportion of those interviewed said that they were undecidedas to whom they planned to vote for. Discriminant analysis isused to allocate undecided voters to candidates. The methodis validated by a postelection follow-up survey.