Competitive bidding — The probability of winning

A company bidding by sealed tender needs to know the relationship between their bid price and their chances of winning the contract. Previously published models for computing the probability of winning are examined and found to be inaccurate. The problem is reformulated, and a new general predictive model for computing the probability of winning is developed. The method of computation is illustrated by a simple worked example.     

Productivity of highly skilled immigrants: economists in the postwar period

Prior work finds declining immigrant quality in the postwar period that is linked to source-country and skill-composition changes associated with the 1965 Immigration Act. This paper uses a unique panel of foreign- and native-born American Economic Association members to show that the highly skilled experienced a similar shift away from European migrants toward those from Asia. However, the findings do not indicate that this change in source-country composition has been accompanied by a decline in quality; rather, the most recent cohorts of foreign-born economists appear to be more productive than their native counterparts.     

Rolling with the shakes: an insight into teenagers’ perceptions of recovery after the Canterbury earthquakes

Natural disasters are harmful worldwide events that inflict multiple psychosocial impacts on disaster-exposed individuals. A significant proportion of affected individuals are teenagers (13–18 years old) who, compared with adults, have been historically overlooked in disaster research. The literature is particularly sparse concerning teenagers’ recovery from natural disasters, specifically what recovery means to them and the contributing factors towards their positive recovery. Therefore, the aim of the current study was to gain deeper insight into this largely unexplored area by conducting five focus groups with teenagers (16–18 years) who experienced at least one of the Canterbury, New Zealand, earthquakes since and including the initial September 2010 earthquake. This study directly asked teenagers about their recovery over the three years after the initial earthquakes, with data being analysed using thematic analysis. Two main themes were identified: (1) perceptions of recovery, with three sub-themes (i) knowledge and being less frightened, (ii) talking about the earthquakes and (iii) shift in perspectives; and (2) contributing factors to recovery, with three sub-themes (i) participation in the community response, (ii) returning to school and (iii) the rebuild of Christchurch. These factors provide insight into how we can better support the recovery process for disaster-exposed teenagers to reduce long-term distress.     

A common-features analysis of Amsterdam and London financial markets during the eighteenth century

We examine the financial linkage between the London and Amsterdam financial markets using stock prices recorded in each market over the period 1723-94 in conjunction with tests for common trends, cycles, and regime shifts. These tests reveal a surprising degree of integration between the markets as their prices move together in both the short and long run. Moreover, shocks to the assets translate quickly and accurately between markets. It also appears that Dutch investment did not destabilize London markets and stock prices in London were the primary determinant of prices in Amsterdam.     

Gentrification and Segregated Wealth in Rural America: Home Value Sorting in Destination Counties

The term “gentrification” carries conflicting popular connotations, conjuring images of both revitalization and displacement. Despite a rich critical literature from urban social scientists, gentrification as it relates to rural housing and rural development is a similarly conflicted term. With the frequent conflation of rural gentrification and economic improvement, researchers and policy-makers alike need more nuanced techniques for identifying how the process distributes costs and benefits across households. This paper operationalizes rural gentrification as a specific demographic pattern of household migration, termed the “Rural Gentrification Score,” and maps its footprint between 1980 and 2000 in 25 US states. It then uses census data to better understand the impacts of rural gentrification on home values in rural counties, interrogating the popular notion that homeowners benefit from gentrification. Using comparative analyses, two related hypotheses about rural gentrification and inequality are explored: (1) that gentrified rural counties were susceptible to greater home value segregation and (2) that over time gentrification’s spread culminated in greater homogeneity of home values. Results support each of these hypotheses and point to nuances in the relationship between population turnover, inequality, and socioeconomic context. Most notably the findings highlight a spatial and temporal pattern of widening wealth inequality in gentrifying rural counties.     

The effects of economic circumstances on British students' mental and physical health

Three-hundred sixty British university students completed a questionnaire providing information on demographic characteristics, financial circumstances, smoking, and drug and alcohol use. A 14-item inventory of physical symptoms, the short form 36 health survey (SF-36), and the General Health Questionnaire (GHQ-12) were used to assess their physical and psychological well-being. Except for physical functioning, all subscales of the SF-36 and the GHQ indicated levels of health significantly below population norms matched for age and sex. Poorer mental health was related to longer working hours outside the university and difficulty in paying bills. Students who had considered abandoning study for financial reasons had poorer mental health, lower levels of social functioning and vitality, and poorer physical health as indicated by variables on the SF-36. They were also heavier smokers. Students' personal debt was significantly associated with their knowing people involved in prostitution, crime, or drug dealing to help support themselves financially.     

Improving homeless persons' utilisation of primary care: lessons to be learned from an outreach programme in The Netherlands

Elissen AMJ, Van Raak AJA, Derckx EWCC, Vrijhoef HJM. Improving homeless persons' utilisation of primary care: lessons to be learned from an outreach programme in The Netherlands Faced with rising homelessness, countries around the world are in need of innovative approaches to caring for those without shelter, who, more often than not, suffer from severe health problems. We conducted a case study of an innovative Dutch Primary Care for the Homeless (PCH) programme to gain insight into clients' demographic characteristics, health problems and service use, and to develop an explanation for its success in increasing the latter. Our analyses are based on a combination of quantitative and qualitative data. The results of the study suggest that the success of the PCH programme can be explained by the providers' pragmatism and will to adapt their mode of care provision to the behavioural patterns and needs of their homeless clients.