Incorporating Equity in Regulatory and Benefit-Cost Analysis Using Risk Based Preferences

Governmental guidance for regulatory and benefit-cost analysis is targeted for applied analysts. Existing Federal guidance recommends sensitivity analysis in general without being specific regarding the implicit distributional assumptions of standard benefit-cost analysis. Recommendations for Federal guidance are developed to: 1) better communicate expectations for distributional analysis, 2) develop guidance for descriptive statistics related to distributional issues, and 3) integrate Government published measures of inequality aversion and to evaluate compensation for identified sensitive populations. While such actions have a data collection and analysis cost, they may make the results of regulatory analysis more relevant by investigating both efficiency and equity measures.benefit, risk, equity, distribution, income

Distributional Characteristics for Ireland: A Note

The distributional characteristic is a measure which can be used in many applications in social cost-benefit analysis. In the application here, the distributional characteristics of a number of broad aggregates of goods are calculated for Ireland. These calculations can aid in assessing the distributional implications of price and tax changes.Distributional Characteristic, welfare weight, tax reform

Towards a Unified Model of Language Acquisition

In this theoretical paper, we first review and rebut standard criticisms against distributional approaches to language acquisition. We then present two closely-related models that use distributional analysis. The first deals with the acquisition of vocabulary, the second with grammatical development. We show how these two models can be combined with a semantic network grown using Hebbian learning, and briefly illustrate the advantages of this combination. An important feature of this hybrid system is that it combines two different types of distributional learning, the first based on order, and the second based on co-occurrences within a context

Using distributional similarity to organise biomedical terminology

We investigate an application of distributional similarity techniques to the problem of structural organisation of biomedical terminology. Our application domain is the relatively small GENIA corpus. Using terms that have been accurately marked-up by hand within the corpus, we consider the problem of automatically determining semantic proximity. Terminological units are dened for our purposes as normalised classes of individual terms. Syntactic analysis of the corpus data is carried out using the Pro3Gres parser and provides the data required to calculate distributional similarity using a variety of dierent measures. Evaluation is performed against a hand-crafted gold standard for this domain in the form of the GENIA ontology. We show that distributional similarity can be used to predict semantic type with a good degree of accuracy

A Neurobiologically Motivated Analysis of Distributional Semantic Models

The pervasive use of distributional semantic models or word embeddings in a variety of research fields is due to their remarkable ability to represent the meanings of words for both practical application and cognitive modeling. However, little has been known about what kind of information is encoded in text-based word vectors. This lack of understanding is particularly problematic when word vectors are regarded as a model of semantic representation for abstract concepts. This paper attempts to reveal the internal information of distributional word vectors by the analysis using Binder et al.'s (2016) brain-based vectors, explicitly structured conceptual representations based on neurobiologically motivated attributes. In the analysis, the mapping from text-based vectors to brain-based vectors is trained and prediction performance is evaluated by comparing the estimated and original brain-based vectors. The analysis demonstrates that social and cognitive information is better encoded in text-based word vectors, but emotional information is not. This result is discussed in terms of embodied theories for abstract concepts.Comment: submitted to CogSci 201

Should We Use Distributional Weights in CBA When Income Taxes Can Deal with Equity?

Kaplow (1996) and others argue forcefully in favor of using the standard cost-benefit test alone, without any distributional concern, given “standard simplifying assumptions.” This paper, on the contrary, demonstrates that distributional weights, equal to the social marginal utility of income, should be applied in cost-benefit analysis, given weak separability in public goods instead of in leisure. This result holds for linear as well as non-linear income taxes, and whether they are optimal or not. A correspondingly modified Samuelson rule is derived and more general policy recommendations discussed.public goods; distributional weights; equity and efficiency; separability; cost-benefit; optimal taxation

A Macro and Microeconomic Integrated Approach to Assessing the Effects of Public Policies

Most public policies have not only efficiency but also distributional effects. However, there is a kind of trade-off between modeling approaches suitable for calculating each one of these impacts on the economy. For the former, most of the studies have been conducted with general equilibrium models, whereas partial equilibrium models represent the main approach for distributional analysis. This paper proposes a methodology which enables us to carry out an analysis of the distributional and efficiency consequences of public policies. In order to do so, we have integrated a microeconomic household demand model and a computable general equilibrium model for the Spanish economy. We illustrate the advantages of this approach by simulating a revenue-neutral reform in Spanish indirect taxation, with a reduction of VAT and a simultaneous increase of energy taxes. The results show that the reform brings about significant efficiency and distributional effects, in some cases counterintuitive, and demonstrate the academic and social utility of this approximation.Taxes, general equilibrium, micro modeling, efficiency, distribution

Lexical and Derivational Meaning in Vector-Based Models of Relativisation

Sadrzadeh et al (2013) present a compositional distributional analysis of relative clauses in English in terms of the Frobenius algebraic structure of finite dimensional vector spaces. The analysis relies on distinct type assignments and lexical recipes for subject vs object relativisation. The situation for Dutch is different: because of the verb final nature of Dutch, relative clauses are ambiguous between a subject vs object relativisation reading. Using an extended version of Lambek calculus, we present a compositional distributional framework that accounts for this derivational ambiguity, and that allows us to give a single meaning recipe for the relative pronoun reconciling the Frobenius semantics with the demands of Dutch derivational syntax.Comment: 10 page version to appear in Proceedings Amsterdam Colloquium, updated with appendi