Return on investment in higher education : evidence for different subjects, degrees and gender in Germany

Applying an investment perspective to higher education, the paper presents detailed empirical evidence on the rate of return to higher education and its determinants. Employing a sample of 17,180 higher education graduates derived from the German Labor Force Survey 2004, we show considerable variation in the rates of return to higher education across the different subjects, with some subjects on average not representing attractive private investments from an economic point of view. We find that the decision what to study is worth several hundred thousand Euros. Applying regression analysis, we find gender- and degree-specific return advantages only in certain subjects. Comparing the return of an investment in higher education and the production cost of higher education, we show that more expensive subjects (apart from Medicine) yield a lower return. When considering the cost of study, the overall order of attractiveness of the different forms of education remains stable, but the investment in further subjects is no longer clearly attractive. Keywords: Returns to Education, Human Capital, Higher Education Earnings Capacity

Desirable properties for XML update mechanisms

The adoption of XML as the default data interchange format and the standardisation of the XPath and XQuery languages has resulted in significant research in the development and implementation of XML databases capable of processing queries efficiently. The ever-increasing deployment of XML in industry and the real-world requirement to support efficient updates to XML documents has more recently prompted research in dynamic XML labelling schemes. In this paper, we provide an overview of the recent research in dynamic XML labelling schemes. Our motivation is to define a set of properties that represent a more holistic dynamic labelling scheme and present our findings through an evaluation matrix for most of the existing schemes that provide update functionality

Markov chain comparison

This is an expository paper, focussing on the following scenario. We have two Markov chains, $\mathcal {M}$ and $\mathcal {M}'$. By some means, we have obtained a bound on the mixing time of $\mathcal {M}'$. We wish to compare $\mathcal {M}$ with $\mathcal {M}'$ in order to derive a corresponding bound on the mixing time of $\mathcal {M}$. We investigate the application of the comparison method of Diaconis and Saloff-Coste to this scenario, giving a number of theorems which characterize the applicability of the method. We focus particularly on the case in which the chains are not reversible. The purpose of the paper is to provide a catalogue of theorems which can be easily applied to bound mixing times.Comment: Published at http://dx.doi.org/10.1214/154957806000000041 in the Probability Surveys (http://www.i-journals.org/ps/) by the Institute of Mathematical Statistics (http://www.imstat.org

Restructuring of Households in Rural South Africa: Reflections on Average Household Size in the Agincourt Sub-district 1992-2003

South Africa has seen a dramatic decrease in household size over the last decade. In Table 1 we show that over the eight-and-a-half years from October 1995 to March 2004 the average household size has decreased by 20% or 0.74 persons (see also Pirouz 2004). Consequently for a fixed population size there would have been 20% more households in March 2004 than in October 1995. Such a rapid rate of household formation is interesting in and of itself. From the perspective of a policy maker it is particularly vital to understand this process. The new democratic government has committed itself to extending infrastructure and social services to households in deprived communities and now finds that it is trying to catch a moving target. The backlogs are increasing as the services are being rolled out. We will suggest below that there might be a connection between these two processes.

Hybridisation for versatile decision-making in game opponent AI

Hybridisation for versatile decision-making in game opponent A

Testing for Rationality with Consumption Data: Demographics and Heterogeneity

In this paper, we introduce a new measure of how close a set of choices are to satisfying the observable implications of rational choice, and apply it to a large balanced panel of household level consumption data. We use this method to answer three related questions: (i) "How close are individual consumption choices to satisfying the model of utility maximization?" (ii) "Are there di¤erences in rationality between di¤erent demographic groups?" (iii) "Can choices be aggregated across individuals under the assumption of homogeneous preferences?" Crucially, in answering these questions, we take into account the power of budget sets faced by each household to expose failures of rationality. To summarize our results we ?nd that: (i) while observed violations of rationality are small in absolute terms, our households are only moderately more rational than the benchmark of random choice; (ii) there are signi?cant di¤erences in the rationality of di¤erent groups, with multi-head households more rational than single head households, and the youngest households more rational than middle age households; (iii) the assumption of homogenous preferences is strongly rejected: choice data that is aggregated across households exhibits high levels of irrationality.#

When Order matters for Iterated Strict Dominance

We demonstrate that iterated elimination of strictly dominated strategies is an order dependent procedure. We also prove that order does not matter if strategy spaces are compact and payoff functions continous. Examples show that this result is tight.game theory; iterated strict dominance; order independence