DO BETTER INFORMED INVESTORS ALWAYS DO BETTER? A BUYBACK PUZZLE

We explore the value of private investment information using data from a singular source: auctions of yearling racehorses. Horse breeders possess superior information about their own horses and have strong financial incentives to buy the best of these back at auction. However, those they repurchase subsequently perform significantly worse on average, earning 30% less at the racetrack than horses purchased by outsiders. Moreover, this underperformance is concentrated in male horses, despite these being purchased exclusively for racing purposes. These puzzling findings cannot be explained by differences in horse risk or breeder abilities, or by nonfinancial objectives, or by behavioral or selection biases. (JEL G02, G11, G14, L83, D44)     

Knowledge Brokering: The missing link in the evidence to action chain?

Transferring health care research into policy and practice is a messy and complex process which both policymakers and researchers can struggle with. A potential solution is to use individuals or organisations as knowledge brokers. Using a range of literature, this paper explains the theory behind knowledge brokering, identifies three models of brokering and explores the challenges of brokering. We suggest that clarifying these factors is a significant step towards planning well designed and rigorously evaluated brokering interventions. We also suggest that a clearly defined theoretical framework could help us to find out more about how brokering works and its effectiveness.     

The typification of Hispanics as criminals and support for punitive crime control policies

The Hispanic population is now the largest and fastest growing minority in the United States, so it is not surprising that ethnic threat linked to Hispanics has been associated with harsher crime control. While minority threat research has found that individuals who associate blacks with crime are more likely to support harsh criminal policies, the possibility that this relationship exists for those who typify Hispanics as criminal has yet to be examined. Using a national random sample, this study is the first to use HLM to find that perceptions of Hispanics as criminals do increase support for punitive crime control measures, controlling for various individual and state influences. Moderated and contextual analyses indicate this relationship is most applicable for individuals who are less apt to typify criminals as black, less prejudiced, less fearful of victimization, politically liberal or moderate, not parents, and living in states with relatively fewer Latin American immigrants.     

Fertility patterns of college graduates by field of study,US women born 1960–79

Building on recent European studies, we used the Survey of Income and Program Participation to provide the first analysis of fertility differences between groups of US college graduates by their undergraduate field of study. We used multilevel event-history models to investigate possible institutional and selection mechanisms linking field of study to delayed fertility and childlessness. The results are consistent with those found for Europe in showing an overall difference of 10 percentage points between levels of childlessness across fields, with the lowest levels occurring for women in health and education, intermediate levels for women in science and technology, and the highest levels for women in arts and social sciences. The mediating roles of the following field characteristics were assessed: motherhood employment penalties; percentage of men; family attitudes; and marriage patterns. Childlessness was higher among women in fields with a moderate representation of men, less traditional family attitudes, and late age at first marriage.     

The secular city and the Christian corpus

Abstract

Beginning with a discussion of Fritz Lang's ‘Metropolis’, this paper considers the rise of the city from a theological perspective. The ideal of the modern city was, it is argued, a secularised version of the City of God: the city was to be a place where all human desires might be met, a city without a church because the moral perfection of each human being has been fulfilled. The advent of the postmodern city of consumerist desire undermines this secular dream, and opens a space for theologians to frame alternative visions of cities of erotic participatory desire.     

Export agriculture is feeding malaria: a cross-national examination of the environmental and social causes of malaria prevalence

Malaria rates remain high across many less-developed regions, including Southeast Asia, Sub-Saharan Africa, and parts of Latin America. Although case studies find elevated malaria rates in locales with increased levels of environmental degradation, the current body of comparative environmental research lacks investigation of infectious disease trends. This study draws upon world-system theorizing to consider agricultural export flows and resulting alterations to the natural environment in poor nations as key causes of malaria prevalence. Additionally, relationships among world-system position, economic development, and socio-health characteristics are examined alongside the environmental predictors using structural equation modeling for data on 99 less-developed nations. The findings emphasize that deforestation and biodiversity loss associated with primary sector export flows are key drivers of malaria rates, alongside notable influences of basic health and social services. The results suggest that environmental and social conditions greatly shape malaria transmission in poor societies.