We investigate how individual well being is a ected by unemployment An alyzing German panel data on life satisfaction we nd that unemployment has a large and negative e ect for male individuals The e ect is large enough to increase the probability that a mid aged male is dissatis ed by more than percentage points We decompose the total well being costs of unemployment and nd that for males at l...

Projective techniques are unusual and often intriguing for respondents to complete, permitting them to express thoughts and feelings which can be difŽ cult to access by direct and structured questioning. This is achieved by presenting respondents with ambiguous verbal or visual stimulus materials, such as bubble cartoons, which they need to make sense of by drawing from their own experiences, t...

In a dynamic setting, we compare procurement schemes in the form of a lump-sum payment with an optimal information-revealing menu of contracts without commitment. We nd that lump-sum contracts generate two bene ts. First, they always provide optimal levels of e ort. Second, they `tie the hands' of the procurer, and avoid the ratchet e ect. These bene ts must be weighed against the costs of high...

Software testability is a misunderstood technology by most of the software test ing community Most testing experts believe that software testability is either a measure of complexity or a subjective assessment of how much it will cost to gen erate test cases perform coverage testing write drivers and or stubs etc This perspective is incomplete In the late s an alternative perspective on testa b...

Monetary economists have long recognized a tension between the bene…ts of fractional reserve banking, such as the ability to undertake more pro…table (long-term) investment opportunities, and the di¢ culties associated with fractional reserve banking, such as the risk of insolvency for each bank. The goal of this paper is to show that a speci…c form of private bank coalition (a joint-liability ...

Recent publications have reached con icting conclusions on wheather allowing users to have unlimitted free access for downloading music and lms is bene tial or not for the content provider industrty. Not only do models di er in their conclusions, but there has also not been an agreement on the validity of data on the impact of free access to music and lms using P2P on the pro ts of CPIs and on ...

Experiments relating to TREC-7 Ad Hoc, HP and VLC tasks are described and results reported. Minor re nements of last year's Ad Hoc methods do not appear to have resulted in worthwile improvements in performance. However, larger bene ts were gained from automatic feedback than last year and concept scoring was very bene cial in the Manual Ad Hoc category. In the Automatic Ad Hoc category title-o...

Koza has previously shown that the power of a genetic programming system can often be enhanced by allowing for the simultaneous evolution of a main program and a collection of automatically de ned functions (ADFs). In this paper I show how related techniques can be used to simultaneously evolve a collection of automatically de ned macros (ADMs). I show how ADMs can be used to produce new contro...

People tend to lack the self control to undergo an unpleasant service that would generate future bene…ts. This paper derives a tractable quasi-hyperbolic discounting model of that behavioral tendency (for queueing systems in which service time is short relative to the time horizon for its bene…ts, and customers observe the queue). People’s lack of self control makes it socially optimal to hide ...

This case study illustrates how the adoption of AI technology can bene t smaller companies as well as major corporations. Pindar Set is a small UK company which has originated the Yellow Pages directories for British Telecommunications plc since 1979. AIAI is a technology transfer organisation which has delivered innovative solutions to industrial clients since 1984. Together, AIAI and Pindar h...