Risk aversion under preference uncertainty

We show that if an agent is uncertain about the precise form of his utility function, his actual relative risk aversion may depend on wealth even if he knows his utility function lies in the class of constant relative risk aversion (CRRA) utility functions. We illustrate the consequences of this result for asset allocation: poor agents that are uncertain about their risk aversion parameter invest less in risky assets than wealthy investors with identical risk aversion uncertainty. Keywords: Risk Aversion , Preference Uncertainty , Risk-taking , Asset Allocation JEL Classification: D81, D84, G11 This Version: November 25, 201

Globalisation, Gender, and Equity: Effects of Foreign Direct Investment on Labour Markets in Rural Indonesia

This study assesses the impact of foreign direct investment (FDI) on gendered labour markets in rural Indonesia. It focuses on the gender composition of the workforce, female and male workers? employment conditions and gender wage inequality. Th e research strategy of ?between-methods triangulation? is chosen, denoting the combination of quantitative and qualitative types of data generation and analysis. Two underlying mechanisms have been identified. A ?cost eff ect? associated with transnational corporations? (TNCs?) greater orientation towards the world market is the preferential recruitment of, on average, lower paid female workers. In light of global competitive cost considerations, this appears as a rational strategy for TNCs. Conversely, foreign fi rms? advanced technological endowments relative to domestic companies require a well-educated workforce with technical skills. In light of these perspectives, gender gaps in education and, on average, women?s weaker labour market attachment disadvantage female workers? employment in TNCs. Both eff ects are mediated by a ?reproductive constraint?. Th is refers to the asymmetric distribution of reproductive obligations between female and male household members, whereby female input into the domestic economy is more demanding relative to that of males. --gender,globalisation,foreign direct investment,labour markets,Indonesia,economic methodology

Modifizierungen der Oberfläche von Polyethylen und Polypropylen

Niederenergetische Kunststoffe, wie die Polyolefine Polyethylen oder Polypropylen, sind nur schwer zu kleben oder zu bedrucken. Die Herausforderung kann gelöst werden mit einer Methode, die ursprünglich aus der Biochemie stammt und mit der sich die Oberflächen von solchen Kunststoffen chemisch verändern lassen. Am Beispiel von photoreaktivem Skiwachs, einer hydrophoben Modifikation von Polyethylen, wird das Verfahren veranschaulicht

Gender and globalisation in South Asia

Intro: Economic Integration, Stagnating Gender Equality? During the high-level meeting in Hong Kong, WTO member countries discussed issues ranging from abolishing agricultural export subsidies and industrial tariff reduction, and market access for foreign banks and telecom providers. The human face of trade and investment flows, however, is often hidden behind economic statistics and legal formulations. This human face is gendered: Globalisation has meant different things for women and men

Research summary

The final report for progress during the period from 15 Nov. 1988 to 14 Nov. 1991 is presented. Research on methods for analysis of sound propagation through the atmosphere and on results obtained from application of our methods are summarized. Ten written documents of NASA research are listed, and these include publications, manuscripts accepted, submitted, or in preparation for publication, and reports. Twelve presentations of results, either at scientific conferences or at research or technical organizations, since the start of the grant period are indicated. Names of organizations to which software produced under the grant was distributed are provided, and the current arrangement whereby the software is being distributed to the scientific community is also described. Finally, the names of seven graduate students who worked on NASA research and received Rensselaer degrees during the grant period, along with their current employers are given

The Gender Digital Divide in Rural Pakistan: How Wide is it and How to Bridge it?

While Pakistan’s National Information Technology (IT) Policy aims at harnessing the potential of information and communication technologies (ICTs) for development, especially in the underserved rural areas, it ignores the role of existing gender inequalities on the possible benefits of ICTs. We have investigated aspects of the ‘gender digital divide’ in rural areas of Pakistan in order to enable an evidence-based gender-sensitive revision of the policy as well as ICT-related interventions from which both females and males gain. The study took place in four of the most marginalized rural districts of the country where this divide is likely to be most pronounced. We found mobile phones to be the ICT that is most commonly available in rural Pakistan. Radios and TV sets are the second most widespread technologies in marginalised rural areas. However, mobile sets at hand are largely owned by women’s husbands, fathers and brothers, whose permission to make calls is required by a large share of all female respondents. I, therefore, argue that availability and gendered use of ICTs are two different things altogether. Social norms related to women and girls’ access to education as well as regulating their mobility prevent them from using ICTs. These norms have to be taken into account in policies and interventions to ensure women and girls’ access to and beneficial use of ICTs

Can European Bank Bailouts work?

Cross-border banking needs cross-border recapitalisation mechanisms. Each mechanism, however, suffers from the financial trilemma, which is that cross-border banking, national financial autonomy and financial stability are incompatible. In this paper, we study the efficiency of different burden sharing agreements for the recapitalisation of the 30 largest banks in Europe. We consider bank bailouts for these banks in a simulation framework with stochastic country-specific bailout benefits. Among the burden sharing rules, we find that the majority and qualified-majority voting rules come close to the efficiency of a bailout mechanism with a supranational authority. Even a unanimous voting rule works better than home-country bailouts, which are very inefficient