Teach a Man to Fish? Education vs. Optimal Taxation

In models of redistribution, diff erences in human capital are often the relevant source of heterogeneity amongst individuals. Presumably, the distribution of human capital can be manipulated through education spending. This paper examines the use of education as a redistributive tool when there is a nonlinear tax system in place. The results show that taxation, whether under full or asymmetric information, substantially reduces the redistributive role of education spending in maximizing social welfare. This points to a conflict between the equalization of utility and human capital outcomes.optimal nonlinear taxation; redistribution; education

CDS as Insurance: Leaky Lifeboats in Stormy Seas

In this paper we update the traditional insurance economics framework to incorporate key features of the credit default swap (CDS) market. First, we allow for insurer insolvency, with asymmetric information as to its probability. We find that stable insurers become less stable because they are forced to compete on price. When insurer type is known, increased competition among insurers can create instability for the same reason. Second, we allow the insured party to have heterogeneous motivations for purchasing CDS. For example, some may own the underlying asset and purchase CDS for risk management, while others buy these contracts purely for speculation. We show that speculators will choose to contract with less stable insurers, resulting in higher counterparty risk in this market relative to that of traditional insurance; however, a regulatory policy that disallows speculative trading can, perversely, cause market counterparty risk to increase. Third, we relax the standard assumption of contract exclusivity, which does not apply to the CDS market, by allowing the insured to purchase contracts from many insurers. In contrast to the traditional insurance model, we show that separation of risk type among insured parties can be achieved through insurer choice. We use our model to shed light on the debate over Central Counterparties (CCP). We show that requiring CDS contracts to be negotiated through CCPs can push stable insurers out of the market, mitigating the benefi t of risk pooling.credit default swaps; insurance; counterparty risk; banking; regulation

Prisons, Genres, and Big Data: Understanding the Language of Corrections in America\u27s Prisons

This dissertation seeks to answer one fundamental question: How can I as a researcher conduct social justice research that is ethical, durable, and portable? As social justice research becomes more prominent in the field of technical and professional communication, ethical research practices must be maintained to avoid an unintentional wounding of the subjects for whom researchers hope to advocate. The dissertation is divided into five sections, each written as a stand-alone article that builds on the principles of the section before it. Each section addresses a key question: 1) How do I ethically engage in social justice research? 2) How do I ethically engage with big data and algorithmic rhetorics? 3) How do I frame my research to have the most impact outside my home discipline? 4) What does an ethical, computational content analysis look like? 5) How do these principles translate into the classroom? Together, these articles identify a methodology called Institutional Genre Analysis, which focuses on text as data that was produced by an institution rather than individual users, avoiding many of the pitfalls of big data research while providing a means for what Vitanza calls “intellectual guerilla warfare conducted by [marginalized individuals]” (1987, p. 52)

Sport Participation and Adolescent Athletes: Building Higher Levels of Self-esteem, Self-worth, and Self-concept Through Sports

Sports participation in children and adolescents can be vital into building self-esteem, self-worth, and self-concept. As children grow into their adolescence sports participation has been researched to see if there can be a significant increase in self-esteem, self-worth, and self-concept in adolescents. Sports participation can have a positive effect on self-esteem, self-worth, and self-concept. This paper will look the different concepts of self-esteem, self-worth, and self-concept to see if sports participation can have positive effects on self-esteem, self-worth, and self-concept. Most of the research has suggested that the positive effects on self-esteem, self-worth, and self-concept can be anywhere from a significant increase in all three to slight increases in all three. The amount of self-esteem, self-worth, and self-concept that can be built through sports participation is found to be determined on certain factors that could take place with sports participation. I reviewed the general basics of self-esteem, self-worth, and self-concept to see how each of these three concepts develop, are similar, and where differences occur. The paper also examines how each of these can be affected by sports. After I looked at the information collected I have seen how sports participation can be significant in the building of an adolescent’s self-esteem, self-worth, and self-concept. This paper concludes with suggestions to help in developing self-esteem, self-worth, and self-concept through sports participation. Having parental support and adequate coaches to help support the growth of self-esteem, self-worth, and self-concept in adolescents. Providing programs for adolescents to play sports they enjoy. Making sure positive skills can be built through sports and promoting a healthy mind and body for adolescent through sports. In light of my findings it is still a topic that is up for debate. I hope this research will shed more light on the topic of self-esteem, self-worth and self-concept being built through sports participatio

Securitization and Aggregate Investment Efficiency

This paper studies the welfare properties of competitive equilibria in an economy with incomplete markets subject to idiosyncratic and aggregate shocks. We focus on the role of securitization, whereby borrowers can reduce idiosyncratic asset risk, which enables increased leverage and investment. In the absence of frictions in the securitization process, we show that the ability to securitize assets completes markets. When there are frictions in the market for securitized assets, requiring originators to hold some skin-in-the-game, markets remain incomplete and risk-sharing is limited. In this case, fire-sales are required to repay debt and finance new investments when the economy is hit by a negative shock. Moreover, the equilibrium may be constrained inefficient due to the existence of a pecuniary externality that can result in over or under-investment. We examine policies to correct over-investment and find that a leverage ratio restriction generates a Pareto improvement, while forcing originators to hold additional skin-in-the-game reduces welfare. Both policies reduce leverage and raise prices in a fire-sale, however tightening skin-in-the-game also directly reduces the resources available to those who most need them, which dominates the positive effect of higher prices

Optimal foraging: Some simple stochastic models.

Some simple stochastic models of optimal foraging are considered. Firstly, mathematical renewal theory is used to make a general model of the combined processes of search, encounter, capture and handling. In the case where patches or prey items are encountered according to a Poisson process, the limiting probability distribution of energy gain is found. This distribution is found to be normal and its mean and variance are specified. This result supports the use of Hollings disc equation to specify the rate of energy intake in foraging models. Secondly, a model based on minimization of the probability of death due to an energetic shortfall is presented. The model gives a graphical solution to the problem of optimal choices when mean and variance are related. Thirdly, a worked example using these results is presented. This example suggests that there may be natural relationships between mean and variance which makes solutions to the problems of \u27energy maximization\u27 and \u27minimization of the probability of starvation\u27 similar. Finally, current trends in stochastic modeling of foraging behavior are critically discussed

A mixed-methods study examining classroom observation scoring and teacher followership in the Network for Educator Effectiveness (NEE) system

Public schools in the United States utilize a variety of teacher evaluation processes, including state-mandated and university-developed systems (Aragon, 2018; Sawchuk, 2015). In 2011, the University of Missouri piloted the Network for Educator Effectiveness (NEE), a teacher evaluation system that, as of 2023, is broadly utilized across the Midwest. Within the NEE system, principals score classroom observation indicators using a 0-7 scale and provide post-observation feedback to teachers. The purpose of this mixed-methods study was to examine the relationship between NEE classroom observation scoring and teacher followership related to principal feedback. A survey related to NEE scoring and followership was given to teachers at seven NEE high schools in Missouri. Interviews were conducted with eight teachers to gather additional insight on followership and adult learning. Findings indicated a statistically significant difference between levels of followership for different NEE observation scores. Qualitative responses from the survey and interviews resulted in several themes related to followership in connection to low, mid, and high NEE scores. Themes were connected to tenets of adult learning, including self-evaluation, importance of goals, and opportunities/barriers. Recommendations for leaders at NEE included providing flexibility for classroom observation scoring, increasing emphasis on feedback in principal training, and encouraging principals to limit the use of scores of 7.Includes bibliographical references