Changes in Risk and the Demand for Saving

How does risk affect saving? Empirical work typically examines the effects of detectible differences in risk within the data. How these differences affect saving in theoretical models depends on the metric one uses for risk. For labor-income risk, second-degree increases in risk require prudence to induce increased saving demand. However, prudence is not necessary for first-degree risk increases and not sufficient for higher-degree risk increases. For increases in interest rate risk, a precautionary effect and a substitution effect need to be compared. This paper provides necessary and sufficient conditions on preferences for an Nth-degree change in risk to increase saving.precautionary saving, prudence, stochastic dominance, temperance

Putting Risk in its Proper Place

This paper examines preferences towards particular classes of lottery pairs. We show how concepts such as prudence and temperance can be fully characterized by a preference relation over these lotteries. If preferences are defined in an expected-utility framework with differentiable utility, the direction of preference for a particular class of lottery pairs is equivalent to signing the nth derivative of the utility function. What makes our characterization appealing is its simplicity, which seems particularly amenable to experimentation.properness, prudence, risk apportionment, risk aversion, stochastic dominance, temperance, utility premium

Apportioning of Risks via Stochastic Dominance

Consider a simple two-state risk with equal probabilities for the two states. In particular, assume that the random wealth variable Xi dominates Yi via ith-order stochastic dominance for i = M,N. We show that the 50-50 lottery [XN + YM, YN + XM] dominates the lottery [XN + XM, YN + YM] via (N + M)th-order stochastic dominance. The basic idea is that a decision maker exhibiting (N + M)th-order stochastic dominance preference will allocate the state-contingent lotteries in such a way as not to group the two "bad" lotteries in the same state, where "bad" is defined via ith-order stochastic dominance. In this way, we can extend and generalize existing results about risk attitudes. This lottery preference includes behavior exhibiting higher order risk effects, such as precautionary effects and tempering effects.downside risk, precautionary effects, prudence, risk apportionment, risk aversion, stochastic dominance, temperance

A Good Sign for Multivariate Risk Taking

Decisions under risk are often multidimensional, where the preferences of the decision maker depend on several attributes. For example, an individual might be concerned about both her level of wealth and the condition of her health. Many times the signs of successive cross derivatives of a utility function play an important role in these models. However, there has not been a simple and intuitive interpretation for the meaning of such derivatives. The purpose of this paper is to give such an interpretation. In particular, we provide an equivalence between the signs of these cross derivatives and individual preference within a particular class of simple lotteries.correlation aversion, multivariate risk, prudence, risk aversion, temperance

Making Demands on Government: Theorizing Determinants of Backyard Residents’ Collective Action in Cape Town, South Africa

Informality is growing with Africa’s rapid urbanization. Much like residents of other types of informal housing, backyard dwellers face overall poor living conditions and political marginalization. However, backyard residents are in an ambiguous legal area and have been far less politically active and organized to pursue their rights to adequate housing. Using a qualitative case study of backyard residents in three Cape Town neighborhoods, Harris, Scheba, and Rice bridge theories of infrastructural citizenship and collective action to shed light on how informality may undermine collective action, and they identify four factors influencing collective action

Exploring the Local Grammar of Evaluation: The Case of Adjectival Patterns in American and Italian Judicial Discourse

Based on a 2-million word bilingual comparable corpus of American and Italian judgments, this paper tests the applicability of a local grammar to study evaluative phraseology in judicial discourse in English and Italian. In particular, the study compares the use of two patterns: v-link + ADJ + that pattern / copula + ADJ + che and v-link + ADJ + to-infinitive pattern / copula + ADJ + verbo all’infinito in the disciplinary genre of criminal judgments delivered by the US Supreme Court and the Italian Corte Suprema di Cassazione. It is argued that these two patterns represent a viable and efficient diagnostic tool for retrieving instances of evaluative language and they represent an ideal starting point and a relevant unit of analysis for a cross-language analysis of evaluation in domainrestricted specialised discourse. Further, the findings provided shed light on important interactions occurring among major interactants involved in the judicial discourse

The Effect of Surface Impurities on the Thermal Accommodation of Rare Gases on a Tungsten Surface

A Rather Comprehensive Experimental Examination of the Effect of Surface Impurities (Potassium and Cesium) on the Thermal Accommodation of Rare Gases on a Tungsten Surface Has Been Made by Roach and Thomas. the Present Work Examines These Effects from a Theoretical Viewpoint with Particular Emphasis on the Effect on the Thermal Accommodation of Helium on a Tungsten Surface Caused by the Adsorption of Cesium Ions And/or Atoms. for This Examination, the Theory of Allen and Feuer Has Been Utilized using Reasonable Values of the Interaction Parameters for Helium with the Adsorbate as Well as the Force Constant for the Adsorbate-Substrate Bond. Resulting Values of the Accommodation Coefficients Are Compared with Experimental Values. © 1974 the Japan Society of Applied Physics

Student Perceptions of Culturally Relevant Pedagogy and The Impact on Teacher-Student Relationships

The purpose of this study was to explore how six eighth-grade Magnet Program students perceive their teacher-student relationship through the teacher’s use of culturally relevant pedagogy. This case study provided information that guides a classroom teacher in the implementation of culturally relevant pedagogy that helps develop and maintain teacher-student relationships. The resulting analysis and interpretation provided major themes that developed regarding the use of culturally relevant strategies in the classroom. This study informs educators in the profession about the extent to which students perceptions impact their relationship with the teacher. Findings could be used by teachers and administrators to advocate for additional funding and professional development in the areas of culturally relevant pedagogy and relationship building