Integrating Operational and Organizational Aspects in Interdependent Infrastructure Network Recovery

Managing risk in infrastructure systems implies dealing with interdependent physical networks and their relationships with the natural and societal contexts. Computational tools are often used to support operational decisions aimed at improving resilience, whereas economics‐related tools tend to be used to address broader societal and policy issues in infrastructure management. We propose an optimization‐based framework for infrastructure resilience analysis that incorporates organizational and socioeconomic aspects into operational problems, allowing to understand relationships between decisions at the policy level (e.g., regulation) and the technical level (e.g., optimal infrastructure restoration). We focus on three issues that arise when integrating such levels. First, optimal restoration strategies driven by financial and operational factors evolve differently compared to those driven by socioeconomic and humanitarian factors. Second, regulatory aspects have a significant impact on recovery dynamics (e.g., effective recovery is most challenging in societies with weak institutions and regulation, where individual interests may compromise societal well‐being). And third, the decision space (i.e., available actions) in postdisaster phases is strongly determined by predisaster decisions (e.g., resource allocation). The proposed optimization framework addresses these issues by using: (1) parametric analyses to test the influence of operational and socioeconomic factors on optimization outcomes, (2) regulatory constraints to model and assess the cost and benefit (for a variety of actors) of enforcing specific policy‐related conditions for the recovery process, and (3) sensitivity analyses to capture the effect of predisaster decisions on recovery. We illustrate our methodology with an example regarding the recovery of interdependent water, power, and gas networks in Shelby County, TN (USA), with exposure to natural hazards.     

On Optimality of Bayesian Wavelet Estimators

Abstract.  We investigate the asymptotic optimality of several Bayesian wavelet estimators, namely, posterior mean, posterior median and Bayes Factor, where the prior imposed on wavelet coefficients is a mixture of a mass function at zero and a Gaussian density. We show that in terms of the mean squared error, for the properly chosen hyperparameters of the prior, all the three resulting Bayesian wavelet estimators achieve optimal minimax rates within any prescribed Besov space     for p  ≥ 2. For 1 ≤  p  < 2, the Bayes Factor is still optimal for (2 s +2)/(2 s +1) ≤  p  < 2 and always outperforms the posterior mean and the posterior median that can achieve only the best possible rates for linear estimators in this case.     

Have Labor Market Reforms at the Turn of the Millennium Changed the Job and Employment Durations of new Entrants?

Many European countries during the 1990s and early 2000s tried to raise labor market flexibility by relaxing their employment protection legislation. This paper investigates whether the reforms have influenced job and employment stability for labor market entrants in Germany and Italy. Duration models are estimated using comparable administrative data for the two countries. The results provide, to some extent, evidence of a decrease in job stability. However, this is not accompanied by a compensating increase in employment stability during the first 3 years after labor market entry.     

Role of Temperament,Parenting Behaviors,and Stress on Turkish Preschoolers’ Internalizing Symptoms

Child‐ and family‐related factors that predict internalizing symptoms are understudied in preschool years and have a negative influence on children's functioning. We examined observational assessments of preschoolers' temperamental fearfulness and exuberance, mother reports of negative control, warmth, and parenting stress in a sample of 109 Turkish preschoolers. High temperamental fearfulness and low joyful/exuberant positive affectivity in addition to low warmth and high parenting stress had significant effects on internalizing symptoms. Parenting stress had both direct and indirect relations to internalizing symptoms via lower maternal warmth. When comorbid elevations in externalizing symptoms were controlled, the results were consistent with the interpretation that poor parenting practices and stress associated with the parenting role predict maladaptation in general but that the specific form of maladaptation may be best predicted by individual differences in children's temperamental characteristics. This study contributes to our understanding of risk and protective factors that predict preschoolers' internalizing symptoms with a sample from a non‐Western population. These findings can guide early prevention and intervention programs to address internalizing problems in a culturally‐sensitive way.     

Serious case reviews: The lived experience of Black children

Despite the many high‐profile Black child deaths in England, race as a factor remains a largely underexplored factor of serious case reviews (SCRs). Evidence from analysis of SCRs indicates that race receives limited attention, or is virtually absent. Given that the main function of SCRs is to provide opportunities for learning lessons to improve practice, the way in which issues of race and culture may influence child protection processes for Black children is therefore of critical importance. In this article, we employ content analysis to examine the extent that race and cultural factors are considered in SCRs involving Black children. It is argued that race is often an important factor influencing Black children's experiences of abuse and neglect, as well as their encounters in the child protection system. This article therefore poses two key questions: (a) What questions are asked about race, ethnicity, and culture in SCRs concerning Black children? (b) How did the SCRs extract lessons to be learnt for improving practice to safeguard Black children? By extending the analysis of race and ethnicity in SCRs, this article furthers our understandings of the needs of Black children in the child protection system.     

Happy People Have Children: Choice and Self-Selection into Parenthood

There is mixed evidence in the existing literature on whether children are associated with greater subjective well-being, with the correlation depending on which countries and populations are considered. We here provide a systematic analysis of this question based on three different datasets: two cross-national and one national panel. We show that the association between children and subjective well-being is positive only in developed countries, and for those who become parents after the age of 30 and who have higher income. We also provide evidence of a positive selection into parenthood, whereby happier individuals are more likely to have children.     

Executive remuneration in blockholder-dominated firms. How do Italian firms use stock options?

The aim of this study is to explore how stock options are used for executive remuneration in blockholder-dominated listed firms. By analysing how stock options granted to executive directors were designed, this paper sheds light on how stock options are used in Italian blockholder-dominated listed firms. Empirical evidence from a unique hand-collected dataset comprising stock options granted by Italian non-financial listed firms between 2004 and 2006 suggests that stock option design seems to be better explained by rent-extraction theory than by optimal contracting theory. Our results suggest that board independence, particularly in terms of minority shareholders?? representation, seems to have a positive influence on stock option design. These findings are consistent with rent-extraction theory: stock option designs that are not explained by optimal-contracting theory are likely to reflect governance/agency problems. This study provides insights on executive remuneration to policy-makers. It is recommended that codes of best practice should stress the importance of stock option design and of remuneration committees?? independence, in particular in terms of minority shareholders?? representation. Last but not least, this study points out the importance of enforcing substantial compliance with the codes?? recommendations.