A Review of the Computerized Version of the Self-Directed Search

This article discusses general issues and concerns relative to the adaptation of paper-pencil assessment instruments to computerized formats. The computerized form of the Self-Directed Search is described and evaluated. Strengths and weaknesses of the SDS-CV are presented and recommendations regarding its use are discussed. In that additional research is needed regarding the reliability and validity of scores attained on the computerized SDS, we concluded that information from this version of the instrument should be interpreted cautiously. The computerized SDS, however, has the potential of becoming a useful instrument in the career counseling field.     

The value of information in anticipated utility theory

A well-known property of expected utility theory is that the value of information is nonnegative. Given the widespread dissatisfaction with the expected utility hypothesis, a natural question to ask is whether competing theories of choice preserve this property. This article considers one widely discussed alternative to expected utility, anticipated utility theory. We show that, like expected utility, the anticipated value of perfect information is always nonnegative. The value of imperfect information, however, may be negative, though the precise valuation of information depends upon whether the reduction of compound lotteries axiom is used to derive the anticipated utility functional.I am indebted to Edi Karni, Peter Wakker, and an anonymous referee for helpful comments on earlier versions of this article. They are of course in no way responsible for errors or obscurities in the present version.     

Bayesian hierarchical regression models for detecting QTLs in plant experiments

Quantitative trait loci (QTL) mapping is a growing field in statistical genetics. In plants, QTL detection experiments often feature replicates or clones within a specific genetic line. In this work, a Bayesian hierarchical regression model is applied to simulated QTL data and to a dataset from the Arabidopsis thaliana plants for locating the QTL mapping associated with cotyledon opening. A conditional model search strategy based on Bayesian model averaging is utilized to reduce the computational burden.     

Gender Differences in Pay of Young Management Professionals in the United States: A Comprehensive View

We conduct a comprehensive examination of the gender differences in pay focusing on multiple perspectives emanating from economics, social psychology, and gender studies. Data are drawn from surveys of MBA students conducted by the Graduate Management Admissions Council. Although women in both samples earn significantly less on average than men, when the effects of the study's variables are considered via multiple regression analysis, no significant difference in annual salary is observed. Our results show the importance of simultaneously considering the impact of human capital, job and firm characteristics, demographics, and cognitive skills. Structural differences are noted in the models estimated separately for men and women. However, the results from decomposing salary differentials are quite consistent with estimates from the single-equation models.     

Uncertainty,the bargaining problem,and the Nash-Zeuthen solution

The Zeuthen bargaining model occupies a prominent place among those theories of the bargaining process that have been formulated and expounded by economists. Its solution to the bargaining problem is essentially economic, since invariant utility functions based on economic factors alone determine the outcome. However, this paper shows that a necessary condition for reaching the Zeuthen solution (shown by Harsanyi to be mathematically equivalent to the game-theoretic solution of Nash's theory) is that bargainers initially take up positions on opposite sides of the outcome that maximizes their utility product. Whether utility functions are mutually known or unknown, inherent in the bargaining situation itself is the requirement that bargainers be at least initially uncertain as to each other's subsequent concession behaviour. With uncertainty, von Neumann-Morgenstern rationality implies that each bargainer would make an initial demand that maximizes the expected gain from holding fast. Therefore, even if Zeuthen's concession criterion should subsequently dictate concession behaviour, expected utility maximization within the context of subjective uncertainty may well yield initial demands that are inconsistent with reaching the Nash-Zeuthen solution. Finally, a general methodological conclusion that emerges from the analysis is that, since the bargaining process necessarily proceeds from a context of subjective uncertainty, greater emphasis needs to be placed on its role as a device for affecting expectations.     

The More Things Change, the More They Stay the Same: The Elusive Search for Racial Equity in Higher Education

In 1965, when affirmative action officially became part of the national consensus to achieve racial social justice, it was based on the compelling justification of establishing equality and remedying the effects of past discrimination. Since then, there has been a slow but steady shift from "equity" to "diversity" as its rationale. The shift has had a negative effect on achieving the original goal of racial equality. The diversity rationale has permitted parallel procedures to evolve that provided majority students with an even larger differential advantage than that conferred on minority students by affirmative action. In addition, we continue to have massive segregation. Minorities are concentrated in second level schools in urban areas, while whites are concentrated in higher quality institutions in the educational suburbs. It is without factual or legal foundation that whites can argue that they (relative to minorities) are the victims of discrimination through unfair and unequal educational policies and practices that determine access to higher education.