Accounting aggregation: User preferences and decision making

This experiment tests the effects of alternative aggregations of accounting data in a simulated portfolio task. Certain entropy-based aggregation criteria were used to prepare differentially aggregated financial statements for use in the task. Subjects made allocations of initial edowments between hypothetical firms, disclosed confidence in their allocation decisions and reported on specific characteristics of the financial statements. Differences in reported usefulness of statement sets furnished were found to be associated strongly with measured information content. The results also provide limited evidence that decisions and judgments of subjects were affected by the information content of the accounting aggregations provided.     

A uniform weak law of large numbers under π-mixing with application to nonlinear least squares estimation

Abstract  In B ierens (1981) we have derived a uniform weak law of large numbers for stochastically stable processes with respect to a finite-dependent base. In this paper we show that this uniform weak law carries over to stochastically stable processes with respect to a, more general, φ-mixing base. This generalization will be used for relaxing the conditions for weak consistency and asymptotic normality of nonlinear least squares estimators.     

Aid for developmentally disabled

The Institute for the Future is engaged in a project to explore effective and affordable uses of telecommunications systems to benefit developmentally disabled children and adults. The two-year study, funded by the Rehabilitation Services Administration of the US Department of Helath, Education and Welfare, began on 1 October 1978 under the overall leadership of the Alternate Media Center at New York Univerity. The Pediatric Service of Roosevelt Hospital in New York City and the American Association of University Affiliated Programs¹ in Washington DC make up the rest of the project team.     

RISK,UTILITY AND STOCKING RATE*

A simple utility-based model of risky wool production is presented. Evaluation of the model indicates the effect on optimal stocking rate of changes in the degree of risk aversion, farm area, variable cost, fixed cost, wool cut, wool price, variance of wool price, climatic variability and tax rate. It is shown that the utility hypothesis implies a lower optimal stocking rate than does expected profit maximization and hence implies a discrepancy between private and public optimal resource use which it is suggested, might be mitigated by a progressive bounty on wool production.     

Population policy aspects of the employment of foreigners

The author considers the medium-range and long-term effects of declining fertility in the Federal Republic of Germany, including the consequences for the population, age structure, economy, and social security system. The slight rise in the number of births is attributed to the presence of foreigners, and it is suggested that only a rapid resumption of immigration will assure demographic stability (SUMMARY IN ENG)