The Benefits of Visibility Improvement: New Evidence from the Los Angeles Metropolitan Area

This article examines the impact of a specific aspect of air quality—visibility, or the ability to clearly see distant objects—on housing values. Our analysis is based on a data set constructed by matching residential housing sales data from the Los Angeles Metropolitan Area for the period 1980 through 1995 with visibility and other air pollution data and other characteristics. We find that visibility differences are capitalized into housing values, producing a measurable hedonic price gradient. The time-series design facilitates an estimate of the demand for visibility that we use to calculate the benefits of changes in visual range.     

Capitalization and the Voucher: An Analysis of Precinct Returns from California''s Proposition 174

In 1993, Californians voted on a school voucher initiative. We hypothesize that homeowners in good school districts understood the voucher to be a threat to their property values and thus voted against it. Precinct returns from Los Angeles County confirm this hypothesis. We also examine an alternative hypothesis explaining the relationship between school quality and precinct returns. According to the alternative, voters perceived the initiative to be a referendum on public school quality. To distinguish between the two hypotheses, we compare the voting patterns of homeowners and renters. The comparison does not favor one hypothesis over the other.     

The Impact of Natural Hazards on Housing Values: The Loma Prieta Earthquake

A large, detailed data set is used to examine the effect of the Loma Prieta (World Series) earthquake on housing prices in the San Francisco Bay area. This relationship is examined while controlling for potential confounding variables, such as location-specific risk and the timing of the earthquake. The results indicate that the Loma Prieta earthquake caused an area wide reduction in property values. In addition, it seems that individuals considered other measures of earthquake risk in their housing purchases, yielding a measurable price gradient. These results are relatively robust, remaining stable across estimated functional forms and independent variable sets.     

The roommates problem revisited

One of the oldest matching problems is Gale and Shapley's (1962) [8] “roommates problem”: is there a stable way to assign 2N students into N roommate pairs? Unlike the classic marriage problem or college admissions problem, there need not exist a stable solution to the roommates problem. However, stability ignores the key physical constraint that roommates require a room and is therefore too restrictive. This motivates a new matching problem: matching agents subject to an initial assignment. A particularly important example is kidney exchange where after an assignment has been made, subsequent tests may determine that a patient and donor are incompatible. This paper introduces an efficient algorithm for finding a Pareto improvement starting from any status quo roommates assignment.     

An alternative characterization of top trading cycles

This paper introduces two new characterizations of the top trading cycles algorithm. The key to our characterizations is a new condition, independence of irrelevant rankings (IIR). Intuitively, a mechanism satisfies IIR if whenever an agent’s ranking at an object is irrelevant to her assignment, then it is irrelevant to the assignment of all agents. We demonstrate that a mechanism is Pareto efficient, strategy-proof, IIR, and satisfies mutual best if and only if it is top trading cycles. This provides a new insight into what distinguishes top trading cycles from all other efficient and strategy-proof assignment mechanisms. We provide a second characterization in terms of weak Maskin monotonicity. A mechanism satisfies Pareto efficiency, weak Maskin monotonicity, IIR, and mutual best if and only if it is top trading cycles. This allows us to directly compare top trading cycles to known characterizations of the deferred acceptance algorithm in terms of weak Maskin monotonicity.     

High school student modeling in the engineering design process

A diverse group of 20 high school students from four states in the US were individually provided with an engineering design challenge. Students chosen were in capstone engineering courses and had taken multiple engineering courses. As students considered the problem and developed a solution, observational data were recorded and artifacts collected. Quantitative methods were used to identify how students allocated their time across different types of modeling. Qualitative methods were used to review data from three students who spent substantial time engaged in graphical and two kinds of mathematical modeling. These students were profiled and their patterns of modeling are represented visually and described in context. Much of the modeling done by these 20 students was graphical in nature. Few students informed their thinking with mathematical representations, yet predictive mathematical modeling is essential to engineering design. Implications for the classroom include encouraging students to transfer understanding of science and mathematics into technology and engineering contexts through modeling.     

Understanding and Improving Teamwork in Organizations: A Scientifically Based Practical Guide

Teams are pervasive in today's world, and rightfully so as we need them. Drawing upon the existing extensive body of research surrounding the topic of teamwork, we delineate nine “critical considerations” that serve as a practical heuristic by which HR leaders can determine what is needed when they face situations involving teamwork. Our heuristic is not intended to be the definitive set of all considerations for teamwork, but instead consolidates key findings from a vast literature to provide an integrated understanding of the underpinnings of teamwork—specifically, what should be considered when selecting, developing, and maintaining teams. This heuristic is designed to help those in practice diagnose team‐based problems by providing a clear focus on relevant aspects of teamwork. To this end, we first define teamwork and its related elements. Second, we offer a high‐level conceptualization of and justification for the nine selected considerations underlying the heuristic, which is followed by a more in‐depth synthesis of related literature as well as empirically‐driven practical guidance. Third, we conclude with a discussion regarding how this heuristic may best be used from a practical standpoint, as well as offer areas for future research regarding both teamwork and its critical considerations. © 2014 Wiley Periodicals, Inc.