Investments in Painting: The interaction of monetary return and psychic income

The financial press gives very regular attention to art and culture in their many forms. Business newspapers such as the Financial Times, the Wall Street Journal, Het Financieele Dagblad and De Financieel Economische Tijd give over plenty of space in their weekend editions to news of art auction prices and exhibitions of major or less well-known works. As well as this practical outlook, more theoretical economists have given increasing attention to the economics of art since the 1970s. There has been a remarkably large amount of research into the pricing of art and the closely associated subject of the return on purchases of art. This centres on painting in general and on individual painters. The attention to painting in the business press is without doubt prompted by the need for journalistic variety, plus the wish to impart a cultural element to the reporting. The provision of market information to readers is, of course, another significant motive. It is less simple to explain the academic interest of economists. At first sight, it seems exotic. But that is a hasty conclusion. Along with intellectual curiosity, there is probably a role for the need to apply trusted analytical methods to new areas of research. Whatever the reason, there is a place for the systematic study of the literature on the sense and nonsense of investing in painting and this is the objective of this paper. It is, however, also a report of explorations in a field that has fascinated me personally as an economist for many years. I, therefore, wrote this essay with great pleasure and hope I can share my enjoyment with my readers in the same way that guidebooks can sometimes add to the pleasure of a trip.

PENGARUH BAGI HASIL DAN KUALITAS PRODUK TERHADAP KEPUTUSAN NASABAH MENABUNG PADA BANK SYARIAH MANDIRI CABANG TANJUNG BALAI

ABSTRAK Tujuan dilakukan penelitian ini adalah untuk mengetahui dan menganalisis pengaruh sistem bagi hasil dan kualitas produk terhadap keputusan nasabah untuk menabung pada Bank Syariah Mandiri Cabang Tanjung Balai. Perumusan masalah dalam penelitian ini apakah sistem bagi hasil hasil deposito mudharabah dan kualitas pelayanan berpengaruh terhadap loyalitas nasabah pada Bank Syariah Mandiri Cabang Tanjung Balai. Hipotesis yang diajukan dalam menjawab perumusan masalah adalah sistem bagi hasil deposito mudharabah dan kualitas pelayanan berpengaruh terhadap loyalitas nasabah pada Bank Syariah Mandiri Cabang Tanjung Balai. Populasi dalam penelitan ini adalah seluruh nasabah deposito mudharabah di Bank Syariah Mandiri Cabang Tanjung Balai yang berjumlah 1872 orang nasabah hingga periode akhir 2019. Teknik pengambilan sampel yang digunakan adalah menggunakan rumus Slovin dengan jumlah sampel sebanyak 95 orang nasabah. Model analisis data yang digunakan dalam penelitian ini adalah model regresi linier berganda dengan terlebih dahulu melakukan uji asumsi klasik yand meliputi uji normalitas, multikolonieritas dan heteroskedastisitas. Hasil penelitian menunjukan bahwa baik secara serempak maupun parsial sistem bagi hasil dan kualitas produk berpengaruh terhadap keputusan nasabah untuk menabung pada Bank Syariah Mandiri Cabang Tanjung Balai dan secara parsial pengaruh yang paling dominan terhadap keputusan menabung nasabah adalah Sistem Bagi Hasil. Kata Kunci : Bagi Hasil, Kualitas Produk, Keputusan Menabun

Evaluation of Cow Bone Ash (CBA) as Additives in Stabilization of Lateritic and Termitaria Soil

Continual pavement distresses on Nigerian highways, as well as environmental contamination from abattoir solid wastes such cow-bones have been a major concern. This study examined the usage of additives in stabilizing weak soils and enhancing their geotechnical properties utilizing Cow Bone Ash (CBA) on lateritic and termitaria soils. The following engineering confirmatory tests were carried out on the samples: compaction test, unconfined compressive strength (UCS) and California bearing ratio (CBR) test. CBA at 2%, 4%, 6%, 8%, and 10% were added to the soil samples. The study revealed that for lateritic and termitaria soils, the maximum amount of CBA that would allow for an increase in soaked CBR value was at 6% and 8%, respectively, while for the unsoaked CBR, the peak values was obtained at 8%. Also, the addition of CBA increased the UCS of both soil samples. The addition of CBA resulted in decreasing optimum moisture content (OMC) for termitaria soils as its pore spaces are filled up by the CBA while for the lateritic soils, increase in CBA resulted in increased OMC values. Also, the addition of CBA to both soil samples resulted in an increase in maximum dry density (MDD) values. The study revealed that termitaria soils have higher strength than the lateritic soils due to higher cohesiveness within its pore structure, lower OMC, higher MDD, UCS, and CBR values. The study concludes that the use of CBA to a maximum of 8% as an additive in stabilization of lateritic and termitaria soils is effective and therefore recommends its use in light and medium trafficked roads