Returns to Education and Risky Financial Investment

The aim of this paper is to explore the relationship between wages, human capital and investment in financial assets with risky returns at the individual level. To explore this relationship from an international perspective, we analyse individual level data from the British Household Panel Survey, the German Socio-Economic Panel and the U.S. Panel Study of Income Dynamics. Our findings suggest that investment in financial assets with risky returns is positively associated with returns to human capital investment

Debt and Risk Preference: A Household Level Analysis

We explore the relationship between risk preference and the level of unsecured debt at the household level within the context of a two period theoretical framework, which predicts that debt is a function of risk aversion. We test the predictions of our theoretical framework for a sample of households drawn from the U.S. Panel Study of Income Dynamics (PSID) and the U.S. Survey of Consumer Finances (SCF). Using a sequence of questions from the 1996 PSID and the 1989 to 2004 SCF, we construct measures of risk preference allowing us to explore the implications of interpersonal differences in risk preference for the accumulation of unsecured debt at the household level. Our empirical findings, which accord with our theoretical priors, suggest that risk preference is an important determinant of the level of unsecured debt acquired at the household level with risk aversion serving to reduce the level of unsecured debt accumulated by households

Technical management techniques for identification and control of industrial safety and pollution hazards

Constructive recommendations are suggested for pollution problems from offshore energy resources industries on outer continental shelf. Technical management techniques for pollution identification and control offer possible applications to space engineering and management

NICMOS Observations of Low-Redshift Quasar Host Galaxies

We have obtained Near-Infrared Camera and Multi-Object Spectrometer images of 16 radio quiet quasars observed as part of a project to investigate the ``luminosity/host-mass limit.'' The limit results were presented in McLeod, Rieke, & Storrie-Lombardi (1999). In this paper, we present the images themselves, along with 1- and 2-dimensional analyses of the host galaxy properties. We find that our model-independent 1D technique is reliable for use on ground-based data at low redshifts; that many radio-quiet quasars live in deVaucouleurs-law hosts, although some of the techniques used to determine host type are questionable; that complex structure is found in many of the hosts, but that there are some hosts that are very smooth and symmetric; and that the nuclei radiate at ~2-20% of the Eddington rate based on the assumption that all galaxies have central black holes with a constant mass fraction of 0.6%. Despite targeting hard-to-resolve hosts, we have failed to find any that imply super-Eddington accretion rates.Comment: To appear in ApJ, 28 pages including degraded figures. Download the paper with full-resolutio figures from http://www.astro.wellesley.edu/kmcleod/mm.p

Finite Size Effects in the Anisotropic \lambda/4!(\phi^4_1 + \phi^4_2)_d Model

We consider the $\frac{\lambda}{4!}(\phi^{4}_{1}+\phi^{4}_{2})$ model on a d-dimensional Euclidean space, where all but one of the coordinates are unbounded. Translation invariance along the bounded coordinate, z, which lies in the interval [0,L], is broken because of the boundary conditions (BC's) chosen for the hyperplanes z=0 and z=L. Two different possibilities for these BC's boundary conditions are considered: DD and NN, where D denotes Dirichlet and N Newmann, respectively. The renormalization procedure up to one-loop order is applied, obtaining two main results. The first is the fact that the renormalization program requires the introduction of counterterms which are surface interactions. The second one is that the tadpole graphs for DD and NN have the same z dependent part in modulus but with opposite signs. We investigate the relevance of this fact to the elimination of surface divergences.Comment: 33 pages, 2 eps figure