Pension scheme fees and charge ratios in 44 countries: A comparative study

Based on data received from pension supervisory authorities, the article reviews 85 different pension schemes in 44 jurisdictions by looking at fees and charges as well as their legal ceilings and their development since 2014. A key finding is the observed decrease in fees and caps. The article presents jurisdictions according to clusters, i.e. by groups of countries with identical or very similar items already covered by pension fees, and analyses the extent to which various cost and fee elements are covered by fees charged to members. Finally, we calculate charge ratios for each cluster to quantify the impact of fees and charges on pension savings. Occupational defined contribution pension schemes and personal plans linked to employment tend to be much more cost effective than personal schemes that have no direct employment link.     

Subhypergraph counts in extremal and random hypergraphs and the fractional <Emphasis Type="Italic">q</Emphasis>-independence

We study the extremal parameter N(n,m,H) which is the largest number of copies of a hypergraph H that can be formed of at most n vertices and m edges. Generalizing previous work of Alon (Isr. J. Math. 38:116–130, 1981), Friedgut and Kahn (Isr. J. Math. 105:251–256, 1998) and Janson, Oleszkiewicz and the third author (Isr. J. Math. 142:61–92, 2004), we obtain an asymptotic formula for N(n,m,H) which is strongly related to the solution α _q (H) of a linear programming problem, called here the fractional q-independence number of H. We observe that α _q (H) is a piecewise linear function of q and determine it explicitly for some ranges of q and some classes of H. As an application, we derive exponential bounds on the upper tail of the distribution of the number of copies of H in a random hypergraph.     

Beyond Markowitz with multiple criteria decision aiding

The paper is about portfolio selection in a non-Markowitz way, involving uncertainty modeling in terms of a series of meaningful quantiles of probabilistic distributions. Considering the quantiles as evaluation criteria of the portfolios leads to a multiobjective optimization problem which needs to be solved using a Multiple Criteria Decision Aiding (MCDA) method. The primary method we propose for solving this problem is an Interactive Multiobjective Optimization (IMO) method based on so-called Dominance-based Rough Set Approach (DRSA). IMO-DRSA is composed of two phases: computation phase, and dialogue phase. In the computation phase, a sample of feasible portfolio solutions is calculated and presented to the Decision Maker (DM). In the dialogue phase, the DM indicates portfolio solutions which are relatively attractive in a given sample; this binary classification of sample portfolios into ‘good’ and ‘others’ is an input preference information to be analyzed using DRSA; DRSA is producing decision rules relating conditions on particular quantiles with the qualification of supporting portfolios as ‘good’; a rule that best fits the current DM’s preferences is chosen to constrain the previous multiobjective optimization in order to compute a new sample in the next computation phase; in this way, the computation phase yields a new sample including better portfolios, and the procedure loops a necessary number of times to end with the most preferred portfolio. We compare IMO-DRSA with two representative MCDA methods based on traditional preference models: value function (UTA method) and outranking relation (ELECTRE IS method). The comparison, which is of methodological nature, is illustrated by a didactic example.     

The asymptotic distribution of numbers of observations near order statistics

In this paper, we discuss the limiting behavior of numbers of observations near an order statistic. We then derive an expression for the joint distribution of the numbers of observations that fall into the open right a-vicinity and left b-vicinity of k  th and (n-r)$(n-r)$th order statistics, respectively, from a sample of size n and establish the result that they are asymptotically independent under suitable conditions.     

Recruitment and Retention of Latinos in Social Work Education: Building on Students’ Community Cultural Wealth

Spanish-speaking and culturally sensitive social workers are in high demand throughout the country to work with Latino clients. Latinos currently represent about 11% of active social workers, limiting the capacity of social work to effectively address the needs of the Latino population. Despite this shortage, little attention has been paid to the recruitment and retention of Latinos in social work. This article presents a case study that examines a BSW program accredited by the Council on Social Work Education, at a bilingual, private college where 90% of students self-identify as Latinos. It details how the BSW program builds on the students’ community cultural wealth to ensure continued recruitment and retention of Latino students. Implications for social work education are discussed.     

Altruism and efficient allocations in three-generation households

Journal of Risk and Uncertainty - In this paper we test the efficiency of family resource allocation in three-generation households. Understanding how the so-called “squeezed middle”...     

Recycling the orphan photograph: the new life of Jewish objects

The aim of this article is to explore the new lives of prewar photographs of European Jewry. In particular, I employ the concept of ‘orphan photograph’ which describes any work whose owners, producers, and the subjects featured in them are no longer available. Working from the premise that a photograph is not only a two-dimensional representation but also a three-dimensional object, I show how family images are consumed, distributed, discarded, salvaged and brought back to life. As I argue in this article, with the annihilation of their owners the once-important personal meanings of the pictures become obscured and obliterated. Subsequently, in post-Holocaust culture orphan photographs become invested with collective values. In the process of being recycled, these private family photographs are transformed into public spaces through which new visions of the past are projected and group interests promoted. Drawing on two case studies from Poland, I look at the ways in which these orphaned images are used by writers and NGOs, and examine how the various agents affect the subsequent readings of these artefacts. The article shows that once allowed to ‘speak for themselves’ these images reveal an immense capacity to challenge our pre-set notions of the past and escape the ‘backshadowing’ narrative of the Shoah.