EVALUATING CHANGES IN THE DISTRIBUTION OF CAPITAL WEALTH

A small-scale general equilibrium model in which the distribution of capital wealth is a key parameter is employed to examine the potential economic consequences of greater capital wealth equality. Every performance indicator examined – aggregate income, consumption equality, social welfare in the sum-of-utilities sense, and aggregate saving –is improved by greater capital wealth equality. However, the bottom-line social welfare gain, relative to the present high-inequality situation – even from the maximum achievable level of complete equality in capital wealth distribution – would be numerically rather modest.     

RURAL POVERTY, URBAN POVERTY, AND PSYCHOLOGICAL WELL-BEING

Data from the National Survey of Families and Households are used to compare the psychological well-being of the rural and urban poor. Overall, the urban poor are higher in perceived health than the rural poor, although no differences are apparent in happiness or depression. Significant interactions are present between rural/urban poverty and sex, race, and family status. The psychological well-being of poor African Americans is higher in rural than urban areas, whereas the well-being of poor whites is higher in urban than rural areas. This trend is especially pronounced for depression among males. In addition, single men without children have especially high depression scores in rural areas, whereas married women without children have especially low depression scores in urban areas. The results are interpreted in terms of the environmental quality of inner-city neighborhoods and attitudes toward poverty in urban and rural communities.     

Cognitive and behavioral therapies for pathological gambling

The purpose of this paper is to provide an overview of behavioral and cognitive treatment approaches in the management of pathological gambling disorders. Disappointingly, the literature to date contains only one controlled outcome study in which two differing behavioral techniques were compared. Although research in general has focussed on identifying the nature of cognitive distortions in gambling, findings from these studies have not been systematically translated into treatment programs. It is concluded that methodological limitations including small sample size, absence of control groups, multiple concurrent interventions and poorly defined outcome criteria preclude conclusive statements to be drawn regarding the active ingredient of either behavioral or cognitive strategies. The program offered within the Impulse Disorders Research Centre is outlined.The authors wish to gratefully acknowledge the assistance and contribution of Zachary Steel, Research Assistant, in the preparation of this paper.     

Bayesian analysis of outlier problems using divergence measures

A Bayesian approach is presented for detecting influential observations using general divergence measures on the posterior distributions. A sampling-based approach using a Gibbs or Metropolis-within-Gibbs method is used to compute the posterior divergence measures. Four specific measures are proposed, which convey the effects of a single observation or covariate on the posterior. The technique is applied to a generalized linear model with binary response data, an overdispersed model and a nonlinear model. An asymptotic approximation using Laplace method to obtain the posterior divergence is also briefly discussed.     

Do profits “crowd out” donations,or vice versa? the impact of revenues from sales on donations to local chapters of the American Red Cross

This article examines the relationship between donations to the American Red Cross and the profits, sales, costs, and prices of health and safety classes offered by local chapters. Two important questions are examined: Do profits from sales of services “crowd out” donations to local chapters of the American Red Cross? Do managers respond to changes in donations by changing prices, output, or costs of saleable services? The results suggest that nonprofit managers should pay close attention to the potential impact on donations of any change in the prices charged for saleable goods and services, and that profits, costs, and prices of services are influenced by donations.     

Mapping water quality by local scoring

The mean density of bacteria in a water body is commonly monitored using quantal assay. This paper describes the use of local scoring in estimating the spatial distribution of mean density from quantal assay results at a set of point locations. An application to estimating the mean density of fecal conform bacteria in a coastal pond is presented. Model diagnostics based on a parametric bootstrap are also presented.     

Reducing U.S. carbon dioxide emissions: an assessment of different instruments

The possibility that carbon dioxide emissions from fossil fuel use might lead to global warming has become a leading environmental concern. Many scientific and environmental organizations have called for immediate action to limit carbon dioxide production. For the most part, however, public debate has focused on a single policy instrument: a carbon tax applied to fossil fuels in proportion to their carbon content. We present a detailed model of the U.S. economy and use it to compare carbon taxes with two other instruments that could achieve the same reduction in carbon dioxide emissions: a tax on the energy content of fossil fuels (a BTU tax) and an ad valorem tax on fuel use. We find that carbon taxes can achieve a given reduction with the least overall effect on the economy, but with a large effect on coal mining. Energy taxes are fairly similar to carbon taxes but have slightly less impact on coal mining and slightly greater overall cost. In contrast, ad valorem taxes fall much more lightly on coal mining but have a much greater effect on the economy as a whole.