Economic Modeling Triggers More Efficient Planning: An Experimental Justification

Consider a firm as an organization that needs to efficiently coordinate several specialized departments in an uncertain environment. Decision making involves collective planning sessions and decentralized operational processes. In this setting this paper explores the role of economic modeling through an experimental game. Results support the idea that economic modeling favors higher performance. Economic modeling facilitates the emergence of common knowledge and the decomposition of a group decision problem into individual decision problems that are meaningfully interrelated. This paper was presented at the Porquerolles Summer School on Cognitive Sciences, September 2001.     

The economics of adding and subdividing independent risks: Some comparative statics results

In this paper we address the problem of determining whether adding independent risks or subdividing them is a good substitute for insurance. Despite the fact that accepting more i.i.d. risks increases total risk, it is shown that some risk-averse decision makers can rationally reduce their demand for insurance by doing so. Similarly, a better diversified portfolio of i.i.d. risky assets can rationally be more insured, even if diversification is a risk-reduction scheme. We derive conditions sufficient to obtain unambiguous comparative statics results. Assuming that absolute risk aversion is decreasing and that the fourth derivative of the utility function is positive, we show that diversification is an exceptionally good substitute for insurance. Under the same conditions, adding independent risks to wealth reduces the demand for insurance on each unit.     

西方理性主义时代的解释学——在语法和批判之间

早在理性时代和启蒙时代(17、18世纪),西方解释学的哲学化进程就迈出了重要的一步,而不是等到施莱尔马赫出现以后。理性主义时代的解释学集中体现在丹豪尔的普遍解释学、克拉登尼乌斯的教育解释学、迈耶尔的符号解释学以及宗教的系统内的虔信派的情感和应用的解释学。它们都从不同的角度突出了解释学的普遍性,具有深刻的时代特点。     

Alternate adjustments to external shocks in Hungary

A multisector computable general equilibrium model is used to evaluate Hungary's response to the external price shocks in the 1970s. The model incorporates characteristics of Hungary's reformed socialist economy. The results show that although the deterioration in terms of trade was important, the policies of insulation of the economy and increases in investment had a much larger detrimental impact on the trade balance. The existence of planned CMEA trade reduced the effects of the price shocks on the trade deficit. Export promotion by means of higher export subsidies would not have been effective to reduce the trade deficit in Hungary.     

Parents Beyond Borders: A Social Group Work Curriculum for Supporting Immigrant Parents and Building Solidarity

Parents Beyond Borders, a curriculum first implemented in 2008 as part of The Center for Family Life's ParentShip Program, encourages group members to create a shared narrative about their traumatic immigration experiences. The result is twofold. First, immigrant parents gain a more assertive and poignant voice to communicate with family and others in their lives when sharing their family's acculturation experience. Second, because social group work promotes recognition of collective trauma due to the community's experience of marginalization, it improves members' group self-concept and empowers them to take action and advocate for themselves.