Quantifying the Value of Collecting: Implications for Financial Advisers

This paper documents the extent to which collectors—specifically, those owning collectible classic US postage stamps—experience an opportunity cost associated with expenditures on their collection. Results show, based on stamp price, S&P 500, bond, and T-bill rate data over the period 1969 through 2013, that collectible stamps tend to underperform stocks and bonds on a risk-adjusted basis. Using estimates based on the Modigliani measure (M²), it was determined that collectors incur an opportunity cost when selecting collectible stamps over more traditional investments. However, it is known that collecting as a hobby provides sociological and psychological benefits. This paper adds to the literature by illustrating how collecting also provides psychic return benefits that can be valued similarly to investment returns. In this study, the foregone return rate of stamp collecting for those who allocate a significant percent of available resources to their collection equates to between 3 and 13 % on an annual basis.     

Beyond the urban stream syndrome: organic matter budget for diagnostics and restoration of an impaired urban river

In response to water quality standard violations linked to excessive organic matter (OM) and a lack of sampling data informing the Total Maximum Daily Load (TMDL), an organic matter budget was created to quantify and identify sources of OM in the lower Jordan River (Salt Lake City, UT). By sampling dissolved, fine and coarse particulate OM, as well as measuring ecosystem metabolism at seven different sites, the researchers aimed to identify the origin of excess OM, and understand pathways by which different size classes of the OM pool are generated. The dissolved fraction (DOM; 94 %) was found to be the dominant form of OM transported within the river with fine particulate organic matter (FPOM; 6 %) the second most abundant, and coarse particulate organic matter (CPOM; 1 %) transport relatively insignificant in the overall OM budget. Primary production exceeded respiratory losses in the upper river, and this, along with OM inputs from two tributaries (where water reclamation facilities discharge into the river) delivered excess OM to the impaired lower reaches. Increasing stream metabolism index (SMI) with distance downstream (>1 in the lower river) further demonstrated that transport of excessive organic matter into the lower river was from upstream sources and not due to lateral inputs. This simple approach to characterizing the organic matter budget as it relates to water quality in the Jordan River was effective and could serve as a model for future studies attempting to quantify and identify sources of OM in urban ecosystems.     

Effects of testosterone replacement therapy withdrawal and re-treatment in hypogonadal elderly men upon obesity,voiding function and prostate safety parameters

Whether testosterone replacement therapy (TRT) is a lifelong treatment for men with hypogonadism remains unknown. We investigated long-term TRT and TRT withdrawal on obesity and prostate-related parameters. Two hundred and sixty-two hypogonadal patients (mean age 59.5) received testosterone undecanoate in 12-week intervals for a maximum of 11 years. One hundred and forty-seven men had TRT interrupted for a mean of 16.9 months and resumed thereafter (Group A). The remaining 115 patients were treated continuously (Group B). Prostate volume, prostate-specific antigen (PSA), residual voiding volume, bladder wall thickness, C-reactive protein (CRP), aging male symptoms (AMS), International Index of erectile function – erectile function (IIEF-EF) and International Prostate Symptoms Scores (IPSS) were measured over the study period with anthropometric parameters of obesity, including weight, body mass index (BMI) and waist circumference. Prior to interruption, TRT resulted in improvements in residual voiding volume, bladder wall thickness, CRP, AMS, IIEF-EF, IPSS and obesity parameters while PSA and prostate volume increased. TRT interruption reduced total testosterone to hypogonadal levels in Group A and resulted in worsening of obesity parameters, AMS, IPSS, residual voiding volume and bladder wall thickness, IIEF-EF and PSA while CRP and prostate volume were unchanged until treatment resumed whereby these effects were reversed. TRT interruption results in worsening of symptoms. Hypogonadism may require lifelong TRT.     

Gambling-related problems across life domains: an exploratory study of non-treatment-seeking weekly gamblers

This study uses content analysis to provide a qualitative exploration of how life roles are affected by frequent (i.e. at least weekly) gambling, based on in-depth interviews with a community sample of 161 non-treatment-seeking frequent gamblers. Over half (51.6%) of the participants indicated problems associated with gambling and 131 examples were identified. The majority of problems were relational (50.4%), followed by financial (19.8%), work (13.7%), and school related (8.4%). Slightly less than half of participants (41.7%) reported losses due to gambling and 92 examples were provided. The most frequently reported loss was identity related (54.3%), which included self-esteem/shame (38.0%), estrangement from family (34.0%), estrangement from friends (16.0%), and estrangement from work colleagues (6.0%). Additional losses included health (29.3%) and financial (8.7%). Almost two-thirds of participants (64.6%) reported difficulty concentrating in family (18.4%), work (16.8%), and school (9.6%) activities, whereas general concentration problems comprised an additional 48.8% of the examples provided. Half of participants (49.1%) discussed behavioral withdrawal due to gambling, which included withdrawal from work (44.3%), relationships (24.5%), school (15.1%), and personal (6.6%) activities. These findings paint a complex picture of how gambling interferes with different life roles for some frequent gamblers, identifying important areas for future research and practice.     

Feminist Christian Realism

While Christianity and feminism may seem at odds with one another, both make normative claims about justice and addressing the needs of those on the margins of power. This article explores what feminism contributes to Christian realism. The current revival of Niebuhrian Christian realism highlights how much it still has to offer as a theoretical underpinning for policy and governance. However, Christian realism remains wedded to masculinist abstractions and power structures, such as the balance of power, that are ultimately harmful to those on the margins. Thus, this article uses feminism to argue for a greater acceptance of vulnerability and obligation in Christian realism.     

The multinational transfer of competency-based foster parent assessment, selection, and training: a nine-country case study.

The UN Convention on the Rights of the Child mandates (Articles 19 and 20) that alternative care be available to protect children from maltreatment by parents and caregivers. Increasingly, countries around the world have recognized the benefits to child well-being of family-based care as an alternative to institutional care. The special if not extraordinary needs of children separated from parents because of abuse, neglect, and maltreatment and placed with foster families requires a commensurate effort to develop foster families who have special if not extraordinary skills. Methods that are effective and replicable across countries offer significant advantages, reducing investments in policies and practices that otherwise would have to be developed independently, country by country. This case study describes the factors that contributed to the transfer of knowledge in the assessment, selection, and training of foster parents and the impact to date.     

Social,Economic and Demographic Consequences of Migration on Kerala

Migration has been the single most dynamic factor in the otherwise dreary development scenario of Kerala during the last quarter of the last century. It has contributed more to poverty alleviation and reduction in unemployment in Kerala than any other factor. As a result of migration, the proportion of the population below the poverty line has declined by 12 per cent. The number of unemployed persons – estimated to be only about 13 lakhs in 1998 compared with 37 lakhs reported by the Kerala Employment Exchanges – has declined by over 30 per cent. Migration has caused nearly a million married women in Kerala to live away from their husbands. Most of these so‐called “Gulf wives” experienced extreme loneliness to begin with, and were burdened with added family responsibilities to which they had not been accustomed when their husbands were with them. But over a period, and with a helping hand from abroad over the ISD, most came out of their early gloom. Their gain in autonomy, status, management skills and experience in dealing with the world outside their homes were developed the hard way and would remain with them for the rest of their lives for the benefit of their families and society. In the long run, the transformation of these million women will have contributed more to the development of Kerala society than all the temporary euphoria created by remittances and modern gadgetry. Kerala is dependent on migration for employment, subsistence, housing, household amenities, institution building, and many other developmental activities. The danger is that migration could cease, as shown by the Kuwait war of 1993, and repercussions could be disastrous for the State. Understanding migration trends and instituting policies to maintain the flow of migration is more important today than at any time in the past. Kerala workers seem to be losing out in international competition for jobs in the Gulf market. Corrective policies are needed urgently to raise their competitive edge over workers in competing countries in South and South‐East Asia. Like any other industry, migration from Kerala needs periodic technological upgrading of workers. Otherwise, there is a danger that the State might lose the Gulf market permanently. The crux of the problem is Kerala workers' inability to compete with expatriates from other South and South‐East Asian countries. The solution lies in equipping workers with better general education and job training. This study suggests a twofold approach. In the short run, the need is to improve the job skills of prospective emigrant workers. This could be achieved through ad hoc training programmes focussed on the job market in Gulf countries. In the long run, the need is to restructure the educational system, taking into consideration the future demand of workers not only in Kerala but also in potential destination countries all over the world, including the US and other developed countries. Kerala emigrants need not always be construction workers in the Gulf countries; they could also be software engineers in developed countries.     

Division of Household Labor and Social Judgments in Israel: The Influence of Gender and Education

The study investigated how men and women with high and low levels of education perceive male and female targets who participate or do not participate in household chores. It was found that individuals liked both men and women who participated in the household chores more and wanted to engage in activities with them more than with the low‐participating targets. The participating man was perceived as more popular than the low‐participating man and was perceived as more feminine but not less masculine. In addition, although participants with both high and low levels of education preferred the participating man, the more educated participants preferred him more, attributed more masculinity to him, and expressed willingness to befriend him and engage in activities with him more than those with a lower level of education. It seems, then, that whereas in the 1990s both highly and less educated individuals perceive a male target who participates in household chores more favorably, this preference is more pronounced among the more educated individuals.     

Statistics In Sociology, 1950–2000: A Selective Review

Statistical methods have had a successful half-century in sociology, contributing to a greatly improved standard of scientific rigor in the discipline. I identify three overlapping postwar generations of statistical methods in sociology, based on the kinds of data they address. The first generation, which started in the late 1940s, deals with cross-tabulations and focuses on measures of association and log-linear models, perhaps the area of statistics to which sociology has contributed the most. The second generation, which began in the 1960s, deals with unit-level survey data and focuses on LISREL-type causal models and event-history analysis. The third generation, starting to emerge in the late 1980s, deals with data that do not fall easily into either of these categories, either because they have a different form, such as texts or narratives, or because dependence is a crucial aspect, as with spatial or social network data. There are many new challenges, and the area is ripe for statistical research; several major institutions have recently launched new initiatives in statistics and the social sciences.     

Characterization of social choice sets in terms of individuals' maximal sets: The fixed agenda framework

In this paper we analyze the explicit representation of fixed agenda social choice correspondences under different rationality assumptions (independence, Pareto optimality, etc.). It is well known that, under some of these assumptions, the existence of dictators, oligarchies or individuals with veto power can be proven ([6] and [10]); but only a partial characterization of the social choice set is obtained. We establish a relationship between the social choice set and the individuals' maximal sets, which explicitly describes a fixed agenda social choice correspondence that satisfies these rationality assumptions. Received: 30 December 1997/Accepted: 20 December 1999