Using the 2000 US Census data, we explored the effect of international transferability of skills on the earnings of high-skilled US immigrants. We confirmed that education and labour market experience received by immigrants from Japan and English-speaking developed countries before migrating...

We investigate the differences between Beckett book values and eBay auction prices using an original data set of 876 auctions for 30 baseball cards from the 1960s era. We find that cards of lower quality generally sell (on eBay) above book price, whereas cards of higher quality generally sell...

Stutzer (2000, 2003) proposes the decay-rate maximizing portfolio selection rule wherein the investor selects the asset mix that maximizes the rate at which the probability of shortfall decays to zero. A close examination of this rule reveals that it ranks portfolios by computing the divergence,...

This paper develops a simple, low-dimension portfolio selection rule based on minimizing the probability of realizing a return below some pre-determined benchmark or target rate. Unlike most shortfall-based methods, which employ approximations to the shortfall probability, this method operates...

We propose a Generalization of Roy's (1952) Safety First (SF) principle and relate it to the IID versions of Stutzer's (Stutzer's 2000, 2003) Portfolio Performance Index and underperformance probability Decay-Rate Maximization criteria. Like the original SF, the Generalized Safety First (GSF)...

This study generalizes the nonparametric approach to option pricing of Stutzer, M. (1996) by demonstrating that the canonical valuation methodology introduced therein is one member of the Cressie–Read family of divergence measures. Alhough the limiting distribution of the alternative measures...

Using individual-level data from the 2008 National Study of the Changing Workforce, we quantify how workers' job satisfaction levels correlate with five schedule-based workplace flexibilities. The data permit us to control for numerous variables that might otherwise explain variation in the...