Moment-Implied Densities: Properties and Applications

Suppose one uses a parametric density function based on the first four (conditional) moments to model risk. There are quite a few densities to choose from and depending on which is selected, one implicitly assumes very different tail behavior and very different feasible skewness/kurtosis combinations. Surprisingly, there is no systematic analysis of the tradeoff one faces. It is the purpose of the article to address this. We focus on the tail behavior and the range of skewness and kurtosis as these are key for common applications such as risk management.     

Satisfaction with Social Contacts of Older Europeans

This paper analyses the determinants of an important component of well-being among individuals aged 50 years or older in eleven European countries: satisfaction with social contacts. We use data from the Survey of Health, Ageing and Retirement in Europe and anchoring vignettes to correct for potential differences in responses scales across countries and socio-demographic groups. On average, older Europeans report being satisfied with their social contacts, but there exist substantial differences across countries: respondents from Northern countries tend to be more satisfied than individuals from Central or Mediterranean countries. Our analysis shows that correcting for response scale differentials alters the country ranking for of satisfaction with social contacts, while it has much less effect on the estimates of what drives within country determinants.     

Satisfaction with Job and Income Among Older Individuals Across European Countries

Using data on individuals of age 50 and older from 11 European countries, we analyze two economic aspects of subjective well-being of older Europeans: satisfaction with household income, and job satisfaction. Both have been shown to contribute substantially to overall well-being (satisfaction with life or happiness). We use anchoring vignettes to correct for potential differences in response scales across countries. The results highlight a large variation in self-reported income satisfaction, which is partly explained by differences in response scales. When differences in response scales are eliminated, the cross-country differences are quite well in line with differences in an objective measure of purchasing power of household income. There are common features in the response scale differences in job satisfaction and income satisfaction. French respondents tend to be critical in both assessments, while Danish and Dutch respondents are always on the optimistic end of the spectrum. Moreover, correcting for response scale differences decreases the cross-country association between satisfaction with income and job satisfaction among workers.     

ON THE ROBUSTNESS OF MAJORITY RULE

We show that simple majority rule satisfies five standard and attractive axioms—the Pareto property, anonymity, neutrality, independence of irrelevant alternatives, and (generic) decisiveness—over a larger class of preference domains than (essentially) any other voting rule. Hence, in this sense, it is the most robust voting rule. This characterization of majority rule provides an alternative to that of May (1952). (JEL: D71)     

Tribute to Jean-Yves Jaffray

Tribute to Jean-Yves Jaffray by the French Group of Decision Theory.     

图书当道！失业加剧，阅读成首选

全球性的经济寒冬袭来,一些人忙于寻找原因;一些人放纵自己,躲在自己编织的梦想天堂里;还有一些弄潮人则抓住时机,嗅出了商机。前不久的巴黎书展上,除美国图书销售出现小幅度缩水外,法德两国的图书销售都有所攀升。     

Short- and long-term stability in organizational networks: Temporal structures of project teams

Network research focuses on patterns of stable relationships, where stability represents the unfolding of social processes over long time frames. We argue that social interactions exhibit important regularities in different time frames (short and long term), reflecting distinct social processes. We illustrate the value of this distinction through a comparative case study of technology-mediated communication, within two project teams in a digital marketing agency. We examine how the embedding of interpersonal interactions in processes of reciprocity and closure over different time horizons enables the emergence of cohesion in the face of constant compositional changes. We propose that the time frames in which stable patterns of interactions develop are the key to understanding the nature of the underlying social processes with short-term patterns of closure and reciprocity representing adaptation to change while longer term patterns indicate cohesion. Our results are supportive of this argument and show that the two teams exhibit the same regularities in interactions but across different time horizons. We discuss the implication of our findings and argue that distinguishing between short- and long-term stability of social networks offers a novel and promising avenue for network research.     

Energy Drinks,Weight Loss,and Disordered Eating Behaviors

Abstract

Objective: The present study examined energy drink consumption and relations with weight loss attempts and behaviors, body image, and eating disorders. Participants/Methods: This is a secondary analysis using data from 856 undergraduate students who completed the American College Health Association–National College Health Assessment II confidentially online during February 2012. Results: This study revealed that the majority reported lifetime consumption of energy drinks (68.4%) and a substantial minority (30.2%) reported past-30-day consumption. Chi-square and t test results suggest that consumption is associated with concerns about personal appearance, weight loss attempts, and disordered eating behaviors (eg, vomiting). Hierarchical logistic regressions revealed that after controlling for demographics, the relations between energy drink consumption and the act of trying to lose weight, the use of diet pills, and the use of vomiting/laxatives remained significant. Conclusions: The current findings suggest that energy drink consumption is associated with weight loss attempts, poor body image, and unhealthy weight loss behaviors. Future research should examine the prevalence of energy drink consumption for the purpose of weight loss.     

Local Motions: Surfing and the Politics of Wave Sliding

Tapping into the politics and rhythms of surfing, this paper embodies a “set” of waves that seeks to erode the sedimentation of Hawaii's modern political orders. By foregrounding a more fluvial and dynamic sense of the political, this paper treats surfing not only as a heterotopic site of agency, but also as an opening for an “other” kind of politics.