Correcting for the endogeneity of pro-environment behavioral choices in contingent valuation

In contingent valuation studies, observed behavioral choices often enter as independent variables in the willingness to pay function. However, these variables may be endogenously determined when the error term in the behavioral model is correlated with the error term in the willingness to pay model. We investigate the effects of correcting for the endogeneity of a variable, namely membership status in environmental organizations that proxies unobservable characteristics of the respondents. Jointly modeling the membership variable and the willingness to pay response yields an estimate for the effect of the former that contradicts previous findings but is intuitive and agrees with theoretical expectations.     

你有什么不明白的?——“玩范纳贝”问答

[在查尔斯·埃什与2008/2009年de Appel策展项目成员的对话《站着,我不(Stand,I Don’t)》当中,埃什说道,如果有人说‘对不起,我不明白’,你可以问‘你有什么不明白的?’     

Constructing and Contesting a Gujarati-Hindu Ethno-religious Identity Through Development Programmes in an Indian Province

Through a case study of Hindu nationalism in India, this paper explores how development programmes serve as the site of construction of, as well as contestation over, religious identity. The participation of low-caste Dalits and tribal Adivasis in the mass violence perpetrated against Muslims in the Indian province of Gujarat in 2002 conveyed the impression that Hindu nationalists had achieved one of their key objectives of creating “Hindu unity”. Cutting across social and status divisions in the local Hindu population, the Hindu nationalist party's constituency today includes its traditional upper-caste supporters, as well as lower castes. While “the other” in the Hindu nationalist conception of community included Dalits and Adivasis as well as Muslims and Christians until the mid-1980s, the recent “Hindu unity” agenda has seen the boundaries of “the other” closing in around Muslims and Christians only. Despite these developments, this paper argues, continuing attempts at the construction of a unified ethno-religious identity are circumscribed and complicated by processes of contestation. Through village-level research, it shows how government actors are involved in simultaneous processes of construction as well as contestation over a Gujarati-Hindu identity through development programmes.     

Countercyclical Bank Capital Requirement and Optimized Monetary Policy Rules

Using BoC-GEM-Fin, a large-scale dynamic stochastic general equilibrium (DSGE) model with real, nominal, and financial frictions featuring a banking sector, we explore the macroeconomic implications of various types of countercyclical bank capital regulations. Results suggest that countercyclical capital requirements have a significant stabilizing effect on key macroeconomic variables, but mostly after financial shocks. Moreover, the bank capital regulatory policy and monetary policy interact, and this interaction is contingent on the type of shocks that drive the economic cycle. Finally, we analyze loss functions based on macroeconomic and financial variables to arrive at an optimal countercyclical regulatory policy in a class of simple implementable Taylor-type rules. Compared to bank capital regulatory policy, monetary policy is able to stabilize the economy more efficiently after real shocks. On the other hand, financial shocks require the regulator to be more aggressive in loosening/tightening capital requirements for banks, even as monetary policy works to counter the deviations of inflation from the target.     

Enabling the Original Intent: Catalysts for Social Entrepreneurship

As capitalist economies have shifted their primary focus from providing goods and services for all, to concentrating wealth at the top echelons of societies, social entrepreneurs have been one source of re-capturing the original intent of capitalism. Social entrepreneurs have combined the efficiency and effectiveness of business organizations with the social concerns of many non-profit and governmental agencies. As a result, social entrepreneurship is viewed as having significant potential for alleviating many of the social ills we now face. To accomplish this mission, however, will require expansion of social enterprises beyond their current footprints. We explore alternate methods of expansion, scaling and replication, and then examine potential catalysts, which can enable social entrepreneurs to attain their goals of social improvement. The catalysts we identify are effectual logic, enhanced legitimacy through appropriate reporting metrics, and information technology. We conclude with two brief case studies that exemplify how these catalysts are currently working to enhance the effectiveness of social start-ups.     

Social Entrepreneurship: The Role of Institutions

A relatively small segment of business, known as social entrepreneurship (SE), is increasingly being acknowledged as an effective source of solutions for a variety of social problems. Because society tends to view “new” solutions as “the” solution, we are concerned that SE will soon be expected to provide answers to our most pressing social ills. In this paper we call into question the ability of SE, by itself, to provide solutions on a scope necessary to address large-scale social issues. SE cannot reasonably be expected to solve social problems on a large scale for a variety of reasons. The first we label the organizational legitimacy argument. This argument leads to our second argument, the isomorphism argument. We also advance three other claims, the moral, political, and structural arguments. After making our arguments, we explore ways in which SE, in concert with other social institutions, can effectively address social ills. We also present two examples of successful ventures in which SEs partnered with governments and other institutions.     

关于现代艺术的一段回忆:对话瓦尔特·本雅明

据悉,一间"现代美术馆"不久将在中国南部某家美术馆亮相,该馆整体重现了在现代主义历史上堪称开山之作的一次展览,其馆藏也均为当年展品的复制。对此我们均深感兴趣且拭目以待,并借此机会同瓦尔特.本雅明进行了一次访谈;当年他曾是复制艺术的主要倡导者,也是博物馆(美术馆)发展历程的见证人和观察员。     

Social Entrepreneurship: The Role of Institutions

A relatively small segment of business, known as social entrepreneurship (SE), is increasingly being acknowledged as an effective source of solutions for a variety of social problems. Because society tends to view “new” solutions as “the” solution, we are concerned that SE will soon be expected to provide answers to our most pressing social ills. In this paper we call into question the ability of SE, by itself, to provide solutions on a scope necessary to address large-scale social issues. SE cannot reasonably be expected to solve social problems on a large scale for a variety of reasons. The first we label the organizational legitimacy argument. This argument leads to our second argument, the isomorphism argument. We also advance three other claims, the moral, political, and structural arguments. After making our arguments, we explore ways in which SE, in concert with other social institutions, can effectively address social ills. We also present two examples of successful ventures in which SEs partnered with governments and other institutions.