The Incompatibility of Materialism and the Desire for Children: Psychological Insights into the Fertility Discrepancy Among Modern Countries

We examined factors related to attitudes toward marriage and the importance of having children in both the US and Singapore. Path analysis indicated that life dissatisfaction leads to materialism, and both of these factors lead to favorable attitudes toward marriage, which leads to greater desire for children. Further analysis indicated this model was effective in explaining the difference in desire for children between Singaporeans and Americans, whereby Singaporeans have lower life satisfaction, higher materialism, and lower attitudes toward marriage and children. Materialistic standards of success were also related to the emphasis women placed on potential marriage partners’ earning capacity. As Singaporean women had higher materialistic standards, they also placed higher emphasis on potential mates’ earning capacity. Results suggest a consideration of psychological variables such as life satisfaction, materialism, and mate preferences may lead to a better understanding of larger-scale socioeconomic issues, including low fertility rates among developed East Asian countries.     

Catastrophe Risk Models for Evaluating Disaster Risk Reduction Investments in Developing Countries

Major natural disasters in recent years have had high human and economic costs, and triggered record high postdisaster relief from governments and international donors. Given the current economic situation worldwide, selecting the most effective disaster risk reduction (DRR) measures is critical. This is especially the case for low‐ and middle‐income countries, which have suffered disproportionally more economic and human losses from disasters. This article discusses a methodology that makes use of advanced probabilistic catastrophe models to estimate benefits of DRR measures. We apply such newly developed models to generate estimates for hurricane risk on residential structures on the island of St. Lucia, and earthquake risk on residential structures in Istanbul, Turkey, as two illustrative case studies. The costs and economic benefits for selected risk reduction measures are estimated taking account of hazard, exposure, and vulnerability. We conclude by emphasizing the advantages and challenges of catastrophe model‐based cost‐benefit analyses for DRR in developing countries.     

Real-time part dispatching within manufacturing cells using fuzzy logic

A new fuzzy logic dispatching method is presented ff which o ers an improvement over certain existing common dispatching rules with respect to the performance measures, number of late parts, maximum part lateness, average producff tion times and machine bu er levels. The fuzzy logic dispatcher incorporates a wider range of scheduling issues than those considered by most dispatching rules, considers certain control ff issues that e ect scheduling, contains mechanisms for optimization and also allows for the addition of more control or scheduling rules.     

Estimating consumer acceptance limits

A methodology is developed for estimating consumer acceptance limits on a sensory attribute of a manufactured product. In concept these limits are analogous to engineering tolerances. The method is based on a generalization of Stevens' Power Law. This generalized law is expressed as a nonlinear statistical model. Instead of restricting the analysis to this particular case, a strategy is discussed for evaluating nonlinear models in general since scientific models are frequently of nonlinear form. The strategy focuses on understanding the geometrical contrasts between linear and nonlinear model estimation and assessing the bias in estimation and the departures from a Gaussian sampling distribution. Computer simulation is employed to examine the behavior of nonlinear least squares estimation. In addition to the usual Gaussian assumption, a bootstrap sample reuse procedure and a general triangular distribution are introduced for evaluating the effects of a non-Gaussian or asymmetrical error structure. Recommendations are given for further model analysis based on the simulation results. In the case of a model for which estimation bias is not a serious issue, estimating functions of the model are considered. Application of these functions to the generalization of Stevens’ Power Law leads to a means for defining and estimating consumer acceptance limits, The statistical form of the law and the model evaluation strategy are applied to consumer research data. Estimation of consumer acceptance limits is illustrated and discussed.     

Financial Strain,Negative Interaction,Coping Styles,and Mental Health Among Low-Income Latinos

This study examines the relationship between financial strain and depressive symptoms in later life, and potential psychosocial mediators of this relationship. Drawing on a sample of 214 low-income Latino older adults, we used structural equation modeling to test the direct effect of chronic financial strain on depressive symptomatology, and the indirect effects via social support, negative interaction, and coping styles. Findings indicated that financial strain increased the level of depressive symptoms among this sample. Avoidance and approach-related coping styles emerged as independent determinants of depressive symptoms albeit in opposite directions; higher levels of avoidance coping was associated with higher levels of depressive symptoms. Contrary to previous findings on the general population, findings from the current study indicate that social support and negative interaction were not directly associated with depressive symptoms. Financial strain mediated the effect of sociocultural (nativity status, years of U.S. residence) and social status factors (age, education) on depressive symptoms. This study highlights the differential impact of financial strain and coping styles on psychological well-being, and the potential psychosocial targets of interventions for older adults with chronic health care conditions.     

Policy relevant heterogeneity in the value of statistical life: New evidence from panel data quantile regressions

We examine differences in the value of statistical life (VSL) across potential wage levels in panel data using quantile regressions with intercept heterogeneity. Latent heterogeneity is econometrically important and affects the estimated VSL. Our findings indicate that a reasonable average cost per expected life saved cut-off for health and safety regulations is 7 million to7 million to 8 million per life saved, but the VSL varies considerably across the labor force. Our results reconcile the previous discrepancies between hedonic VSL estimates and the values implied by theories linked to the coefficient of relative risk aversion. Because the VSL varies elastically with income, regulatory agencies should regularly update the VSL used in benefit assessments, increasing the VSL proportionally with changes in income over time.