Steady growth generates higher levels of wellbeing among citizens than ‘boom and bust’ cycles

What effect do recessions and economic expansions have on the mental wellbeing of citizens? Jan­-Emmanuel De Neve and colleagues present findings from a study of positive and negative fluctuations in business cycles across the world. They write that while growth is significantly associated with increased wellbeing, individuals do not benefit from economic expansions nearly as much as they suffer from recessions. This suggests that steady positive growth that minimises the risk of contraction is the most likely route to improving general wellbeing

Formulation and statistical evaluation of a ready-to-drink whey based orange beverage and its storage stability

A value-added functional beverage is formulated utilizing unprocessed liquid whey. Whey has excellent nutritional qualities and bland flavors; it is easy to digest and has a unique functionality in a beverage system. The ready-to-drink beverage is formulated with concentrated whey, orange juice along with an adequate amount of sugar, stabilizer, citric acid and flavor. Orange juice is used since the acidic flavor of whey is compatible With citrus flavors and particularly orange. The health and nutrition benefits of orange further imparts the value to the formulated beverage. Nine blend formulations are prepared by varying the dry matter of whey, fruit juice and sugar content Based on a statistical analysis of the sensory evaluation of the drinks, the optimal formulation is found to have a ratio 3:2 for concentrated liquid whey and orange juice followed by an addition of 8% sugar (w/v) and 0.1% stabilizer (w/v). The shelf-life of the final product is carried out both at room temperature (30+/-2 degrees C) and refrigeration temperature (7+/-1 degrees C) with and without addition of preservatives. The product remains in good condition up to eleven days at room temperature and up to three months under refrigeration condition with addition of 150 ppm of sodium benzoate

Consumer Demand for Prize-Linked Savings: A Preliminary Analysis

This paper reports on a small-scale survey of the potential American demand for prize-linked savings accounts, an account that awards prizes as part of the saving product’s return. In October 2006, Centra Credit Union launched a prize-linked savings pilot. As part of that initiative, we conducted a mall intercept survey of over 500 people in Clarksville, Indiana, the community where the program was launched. This preliminary data suggests that low-to-moderate income Americans may have substantial demand for prize-linked savings, with a majority of survey participants expressing an interest in opening a prize-linked savings account. As predicted by theory and international experience, interest in prize-linked savings is greatest among people who do not have regular saving habits, who have little actual savings, who play lotteries extensively, and who are optimistic about their futures.

A tutorial on probabilistic index models : regression models for the effect size P(Y1 < Y2)

The probabilistic index (PI), also known as the probability of superiority or the common language effect size, refers to the probability that the outcome of a randomly selected subject exceeds the outcome of another randomly selected subject, conditional on the covariate values of both subjects. This summary measure has a long history, especially for the 2-sample design where the covariate value typically refers to 1 of 2 treatments. Despite some of the attractive features of the PI, it is often not used beyond the 2-sample design. One reason is the lack of a flexible regression framework that embeds the PI and that allows the user to estimate it for more complicated designs. However, Thas, De Neve, Clement, and Ottoy (2012) recently developed such a regression framework, named probabilistic index models (PIMs). In this tutorial we provide an introduction to PIMs where we discuss several theoretical properties, motivate why we think PIMs could be useful for behavioral sciences, and illustrate how it can be used in practice using the R package pim

Small sample inference for probabilistic index models

Probabilistic index models may be used to generate classical and new rank tests, with the additional advantage of supplementing them with interpretable effect size measures. The popularity of rank tests for small sample inference makes probabilistic index models also natural candidates for small sample studies. However, at present, inference for such models relies on asymptotic theory that can deliver poor approximations of the sampling distribution if the sample size is rather small. A bias-reduced version of the bootstrap and adjusted jackknife empirical likelihood are explored. It is shown that their application leads to drastic improvements in small sample inference for probabilistic index models, justifying the use of such models for reliable and informative statistical inference in small sample studies

Happiness at work

Happiness is typically defined by how people experience and evaluate their lives as a whole. Since the majority of people spend much of their lives at work, it is critically important to gain a solid understanding of the role that employment and the workplace play in shaping happiness for individuals and communities around the world. In this paper, we focus largely on the role of work and employment in shaping people’s happiness, and investigate how employment status, job type, and workplace characteristics relate to measures of subjective wellbein

Wellbeing: science and policy

What produces a happy society and a happy life? Thanks to the new science of wellbeing, we can now answer this question using state-of-the-art empirical evidence. This transforms our ability to base our decisions on the outcomes that matter most, namely the wellbeing of us all including future generations. Written by two of the world's leading experts on the economics of wellbeing, this book shows how wellbeing can be measured, what causes it and how it can be improved. Its findings are profoundly relevant to all social sciences, including psychology, economics, politics, behavioural science and sociology. A field-defining text on a new science that aims to span the whole of human life, this will be an invaluable resource for undergraduate and graduate students, policy-makers and employers, who can apply its insights in their professional and private lives

On an evaluation of transformation languages in a fully XML-driven framework for video content adaptation

Bitstream Structure Descriptions (BSDs) allow taking the complexity of transforming scalable bitstreams from the compressed domain to the semantic domain. These descriptions are an essential part of an XUL-driven video adaptation framework. The performance of a BSD transformation engine is very important in such an architecture. This paper evaluates the efficiency of XML-based transformation languages in our video adaptation framework. XSLT, STX, and a hybrid solution are compared to each other in terms of execution times, memory consumption, and user-friendliness. Our experiments show that STX is the preferred solution when speed and low-memory are important. The hybrid solution is competitive in terms of memory consumption and is more user-friendly than STX. Although XSLT is relative fast, its memory consumption is very high