Objective Bayes Covariate‐Adjusted Sparse Graphical Model Selection

We present an objective Bayes method for covariance selection in Gaussian multivariate regression models having a sparse regression and covariance structure, the latter being Markov with respect to a directed acyclic graph (DAG). Our procedure can be easily complemented with a variable selection step, so that variable and graphical model selection can be performed jointly. In this way, we offer a solution to a problem of growing importance especially in the area of genetical genomics (eQTL analysis). The input of our method is a single default prior, essentially involving no subjective elicitation, while its output is a closed form marginal likelihood for every covariate‐adjusted DAG model, which is constant over each class of Markov equivalent DAGs; our procedure thus naturally encompasses covariate‐adjusted decomposable graphical models. In realistic experimental studies, our method is highly competitive, especially when the number of responses is large relative to the sample size.     

Weighted likelihood based inference for P(X < Y)

This contribution deals with the statistical problem of evaluating the stress–strength reliability parameter R = P(X < Y), when both stress and strength data are prone to contamination. Standard likelihood inference can be badly affected by mild data inadequacies, that often occur in the form of several outliers. Then, robust tools are recommended. Here, inference relies on the weighted likelihood methodology. This approach has the advantage to lead to robust estimators, tests, and confidence intervals that share the main asymptotic properties of their classical counterparts. The accuracy of the proposed methodology is illustrated both by numerical studies and real-data applications.     

Financial Literacy,Human Capital and Stock Market Participation in Europe

Households’ stock market participation has significant effects on savings and on an economy’s financial development and performance. Yet participation into capital markets is limited and quite heterogonous both among and within several countries. This phenomenon represents an empirical puzzle whose understanding is rather incomplete. In this work, we exploited a combination of datasets for nine European countries and used different econometric specifications that allow to control for endogeneity of financial literacy and human capital, to assess the role of several variables in affecting the probability to participate in the stock market in year 2010. Besides socio-demographic variables, we found that financial literacy has a positive and significant effect on stock market participation, together with the level of human capital and social interaction. Country level differences are explained by such institutional factors as the effectiveness of the education system and by the attractiveness of the stock markets.     

Fear of childbirth in primiparous Italian pregnant women: The role of anxiety,depression, and couple adjustment

Background

The prevalence of fear of childbirth in pregnant women is described to be about 20–25%, while 6–10% of expectant mothers report a severe fear that impairs their daily activities as well as their ability to cope with labour and childbirth. Research on fear of childbirth risk factors has produced heterogeneous results while being mostly done with expectant mothers from northern Europe, northern America, and Australia.

Comparing Hospitals and Health Prices and Volumes Across Countries: A New Approach

Health services are among the most comparison-resistant services in international comparisons such as the Eurostat–OECD Purchasing Power Parities (PPP) program and the ICP. Traditionally, PPPs for health services are estimated on the basis of input methods, e.g. by comparing salaries of doctors and nurses. This mainly reflects the difficulties inherent in measuring the output of services produced by nonmarket producers. Since 2007, OECD and Eurostat have undertaken work, with their Member States, to develop explicit output-based measures of prices and volumes of hospital services directed at comparisons across countries. The approach is based on collecting quasi-prices for a basket of comparable and representative medical and surgical hospital services. Eurostat and OECD used the new approach for the first time in their PPP calculations that entered the 2011 ICP benchmark round. The paper describes the output-based approach, the way it was developed and tested to assess its feasibility, and the results based on the latest data collection.     

Partnerships for heritage conservation: evidence from the archeological site of Herculaneum

In the present paper, we investigate the Herculaneum Conservation Project (HCP), a partnership agreement between one public and two non-profit actors aimed at improving the conservation of the archeological site of Herculaneum. The study is motivated by different elements of interests. First, although HCP has been defined by UNESCO as a significant case study for private–public partnership (PPP) in the cultural heritage sector, its financial and organizational aspects are still under-investigated. Second, and quite paradoxically, an analysis of HCP through the lenses of PPP literature reveals its distinctive nature—i.e. more a borderline case than a typical example of PPP. Third, the presence of a similar archeological site nearby Herculaneum—i.e. Pompeii, also defined as a Herculaneum sister city—allows a thorough assessment of the benefit of the partnership scheme in a counterfactual logic. Through the study, we complement the current debate on partnerships in the heritage field, we report on an atypical experience of partnership, and we problematize the rationale of this governance solution within the Italian public sector.     

Demographic Dynamics,Urban Cycles and Economic Downturns: A Long-term Investigation of a Metropolitan Region in Europe, 1956–2016

Population Research and Policy Review - Economic downturns have influenced population dynamics, fuelling social inequalities and income divides across countries and regions. At the same time, urban...     

With or without you? Measuring the quality of relational life throughout the world

This paper proposes a new method for the measurement of the quality of relational life. Building on the recent literature on the determinants of subjective well-being, we use implicit valuations estimated from microeconometric life satisfaction equations to weigh scores on several dimensions of relational life. We apply the proposed method to a large sample of individuals from 94 countries, in order to construct composite indicators that focus on three dimensions of interpersonal relations: friends, family, and society. We use these indicators to compare the quality of relational life across countries worldwide and to explore its determinants at individual and country level. Overall, the results indicate that, at individual level, better economic conditions are associated with higher quality of interpersonal relationships.