The Demand for Information and the Distribution of Income

1987 ◽  
Vol 1 (1) ◽  
pp. 3-13 ◽  
Author(s):  
Kenneth J. Arrow
Keyword(s):  
Rate Of Return ◽  
Rates Of Return ◽  
Initial Wealth ◽  
Distribution Of Income

Investors can increase their payoff by acquiring information on rates of return. The value of the information is greater, the greater the amount to be invested. Therefore, information purchased and consequently the expected rate of return increases with initial wealth, and the distribution of final wealth is more unequal than that of initial wealth.

Rates of Return for Land-Grant Railroads: The Central Pacific System

1970 ◽  
Vol 30 (3) ◽  
pp. 602-626 ◽  
Author(s):  
Lloyd J. Mercer
Keyword(s):  
Nineteenth Century ◽  
Economic Analysis ◽  
Economic Effects ◽  
Land Policy ◽  
Central Pacific ◽  
Rates Of Return ◽  
The Public ◽  
Nineteenth Century America ◽  
American Economy ◽  
Distribution Of Income

Land was the resource that nineteenth-century America possessed in greatest abundance. A large part of the land was initially in the public domain and was transferred to private ownership in the course of the century. Land policy, therefore, had the potential for creating significant and long lasting effects on the American economy—on the rate of settlement of the West, the distribution of income, the rate of economic growth. A substantial body of literature, much of it severely critical, has developed concerning the economic effects of nineteenth-century American land policy. Unfortunately, the criticisms often rest primarily on tales of corruption and thievery, rather than on economic analysis. Certainly many of the stories are true, but they represent an insufficient basis for evaluating the economic effects of land policy. A detailed economic analysis of individual policies is required.

scholarly journals Welfare and Distributional Impacts of Financial Liberalization in an Open Economy: Lessons from a Multi-Sectoral Dynamic CGE Model for Nepal

2016 ◽  
Vol 10 (1) ◽  
pp. 181 ◽  
Author(s):  
Keshab Bhattarai
Keyword(s):  
Open Economy ◽  
Financial Liberalization ◽  
Cge Model ◽  
Allocation Of Resources ◽  
Rates Of Return ◽  
Rural Labor ◽  
Urban Households ◽  
Rural And Urban ◽  
Distribution Of Income ◽  
Distributional Impacts

By equalizing rates of return across sectors, financial liberalization improves efficiency and equalizes the distribution of income. Efficiency gained in the allocation of resources increases capital usage more in previously heavily repressed sectors such as agriculture and textile, allowing up to a 19 percent expansion in production and employment. The savings and investment responses, degree of factor substitutions, are higher in the complete liberalization than in partial or piecemeal liberalization. Income, consumption, utility and overall welfare of rural and urban households increase. Liberalization is not effective if savings are used in accumulations of unproductive assets i.e. gold, jewellery, urban land, and foreign exchange. Financial liberalization improves the distribution of income by raising the wage rate of rural labor than for urban labor as rural labour-intensive sectors invest more with increased access to financial institutions and demand more labor to complement additional capital employed in these sectors.

scholarly journals A Structural Approach to Estimating Rate of Return Expectations of Farmers

1993 ◽  
Vol 25 (2) ◽  
pp. 56-68 ◽  
Author(s):  
Bruce L. Ahrendsen
Keyword(s):  
Time Series ◽  
North Carolina ◽  
Cost Function ◽  
Structural Approach ◽  
Rate Of Return ◽  
Dairy Farmers ◽  
Return On Assets ◽  
Rates Of Return ◽  
Sample Mean ◽  
Using Data

AbstractA dual cost function approach is developed as an alternative to time series and simplistic approaches for estimating farmers' expected operating rates of return on assets. A translog restricted cost function is estimated using data provided by 152 North Carolina dairy farmers over the period 1976 through 1986. The predicted costs from the fitted restricted cost function are used to construct estimates of farmers' expected operating rates of return on assets. The estimates from this structural approach explain more of the variation in observed rates than do time series estimates or sample mean observed rates.

Return-to-Play and Rehabilitation Protocols following Cartilage Restoration Procedures of the Knee: A Systematic Review

Cartilage ◽  
2019 ◽  
pp. 194760351989473 ◽  
Author(s):  
Eoghan T. Hurley ◽  
Martin S. Davey ◽  
M. Shazil Jamal ◽  
Amit K. Manjunath ◽  
Michael J. Alaia ◽  
...  
Keyword(s):  
Return To Play ◽  
Rate Of Return ◽  
Osteochondral Allograft ◽  
Cochrane Library ◽  
Rates Of Return ◽  
Number Of Patients ◽  
Cartilage Restoration ◽  
Rehabilitation Protocols ◽  
Chondrocyte Implantation ◽  
Osteochondral Autograft Transfer

Objective The purpose of this study is to systematically review the literature and to evaluate the reported rehabilitation protocols, return-to-play guidelines, and subsequent rates of return to play following cartilage restoration procedures in the knee. Design MEDLINE, EMBASE, and the Cochrane Library were searched according to the PRISMA guidelines to find studies on cartilage restoration procedures in the knee, including (1) microfracture (Mfx), (2) osteochondral autograft transfer (AOT), (3) osteochondral allograft implantation (OCA), and (4) autologous chondrocyte implantation (ACI). Studies were included if they reported return-to-play data or rehabilitation protocols. Results Overall, 179 studies fit our inclusion criteria, with 48 on Mfx, 34 on AOT, 54 on OCA, and 51 on ACI. The rate of return to play was reported as high as 88.2% with AOT, and as low as 77.2% following OCA, with rates of return to play at the same/higher level as high as 79.3% with AOT, and as low as 57.3% following ACI. The average reported time of return to play was as low as 4.9 months with AOT, and as high as 11.6 months following ACI. Conclusions The majority of patients are able to return to play following cartilage restoration procedures in the knee, regardless of surgical procedure utilized. However, while the rate of return to play at the same level was similar to the overall rate of return following AOT, there was a large number of patients unable to return to the same level following Mfx, OCA, and ACI. Additionally, there is wide variety in the rehabilitation protocols, and scant literature on return-to-play protocols.

High Satisfaction and Return to Sports After Total Shoulder Arthroplasty in Patients Aged 55 Years and Younger

2017 ◽  
Vol 45 (7) ◽  
pp. 1664-1669 ◽  
Author(s):  
Grant H. Garcia ◽  
Joseph N. Liu ◽  
Alec Sinatro ◽  
Hao-Hua Wu ◽  
Joshua S. Dines ◽  
...  
Keyword(s):  
Upper Extremity ◽  
Shoulder Arthroplasty ◽  
Total Shoulder Arthroplasty ◽  
Rate Of Return ◽  
Return To Sports ◽  
Rates Of Return ◽  
Satisfaction Rate ◽  
Vas Score ◽  
High Satisfaction

Background: Young, active candidates for total shoulder arthroplasty (TSA) are a unique group of patients. Not only do they demand longevity and improved function, but they also desire a return to physical activities. Purpose: To determine the rate of return to sports in patients aged ≤55 years undergoing TSA. Study Design: Case series; Level of evidence, 4. Methods: This was a retrospective review of consecutive patients who underwent anatomic TSA at a single institution. Exclusion criteria included age at the time of surgery >55 years and <2 years of follow-up. All patients had end-stage osteoarthritis with significant glenohumeral joint space narrowing. The final follow-up consisted of a patient-reported sports questionnaire, American Shoulder and Elbow Surgeons (ASES) score, and visual analog scale (VAS) score. Results: From 70 eligible patients, 59 patients (61 shoulders) were included with an average follow-up of 61.0 months (range, 25-103 months) and average age at the time of surgery of 48.9 years (range, 25-55 years). The average VAS score improved from 5.6 to 0.9 ( P < .001), and the average ASES score improved from 39.3 to 88.4 ( P < .001). Forty-nine procedures (80.3%) were performed for a primary diagnosis of osteoarthritis. Four shoulders returned to the operating room; none were for glenoid loosening. There was a 93.2% satisfaction rate, and 67.7% of patients (n = 40) stated that they underwent their surgery to return to sports. Moreover, patients in 96.4% of shoulders (55/57) restarted at least 1 sport at an average of 6.7 months. Direct rates of return were as follows: fitness sports (97.2%), golf (93.3%), singles tennis (87.5%), swimming (77.7%), basketball (75.0%), and flag football (66.7%). Patients in 47 shoulders (82.4%) returned to a similar or higher level of sports; 90.3% returned to high-demand sports, and 83.8% returned to high upper extremity sports. There was no significant difference in rates of return to sports by body mass index, sex, age, preoperative diagnosis, revision status, and dominant extremity. Conclusion: In patients aged ≤55 years undergoing TSA, there was a 96.4% rate of return to ≥1 previous sports at an average of 6.7 months. Furthermore, at an average follow-up of 61.0 months, no patients needed revision of their glenoid component, despite an 83.8% rate of return to high upper extremity sports. While caution should still be advised in young, active patients undergoing TSA, these results demonstrate a high satisfaction rate and improved ability to return to most sports after surgery.

scholarly journals Systematic and Unsystematic Risk of Rates of Return Associated with Selected Forest Products Companies

1978 ◽  
Vol 10 (1) ◽  
pp. 135-138 ◽  
Author(s):  
James E. Hotvedt ◽  
Philip L. Tedder
Keyword(s):  
Production Process ◽  
Average Rate ◽  
Forest Products ◽  
Rate Of Return ◽  
Expected Returns ◽  
Risk And Uncertainty ◽  
Rates Of Return ◽  
Risk Class ◽  
Process Risk

The objective of most investors in stocks or other assets is to maximize the expected returns in a given risk class; in other words, to minimize risk for a given level of expected returns. Although “risk” may connote the chance of injury or loss, the term is not defined so narrowly in this article. Rather, it is used to reflect volatility in stock or other assets' rates of return and should not be confused with risk and uncertainty in the production process. Risk, as approached herein, equals the variance of historical rates of return about the average rate of return.

scholarly journals Under-Reporting Of Returns By Alternative Asset Funds

2011 ◽  
Vol 9 (1) ◽  
Author(s):  
Jeffry Haber ◽  
Andrew Braunstein
Keyword(s):  
Cash Flows ◽  
Rate Of Return ◽  
Font Size ◽  
Rates Of Return ◽  
Data Set

<p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt; mso-pagination: none;"><span style="font-family: &quot;Times New Roman&quot;,&quot;serif&quot;; font-size: 10pt;">Self-reported interim rates of return have always drawn a skeptical eye. Alternative assets have generally provided the least transparency of any investment class, and thus the reported returns have often been considered suspect. A previous study compared the reported returns for a sample of alternative asset funds to the &ldquo;true&rdquo; returns (with the &ldquo;true&rdquo; return being defined as the rate of return needed to equate the cash flows from the investment), and found that the alternative asset funds generally provided accurate returns. This paper (using the same data set) examines the issue from a different perspective, and concludes that every single alternative asset fund in the sample actually under-reported the rate of return.</span></p>

The Social Structure of Competition

2003 ◽  
Author(s):  
Ronald Burt
Keyword(s):  
Social Capital ◽  
Human Capital ◽  
Social Structure ◽  
Formal Education ◽  
Rate Of Return ◽  
Rates Of Return ◽  
Job Experience ◽  
The Social ◽  
Lines Of Credit ◽  
Market Production

A player brings capital to the competitive arena and walks away with profit determined by the rate of return where the capital was invested. The market production equation predicts profit: invested capital, multiplied by the going rate of return, equals the profit to be expected from the investment. You invest a million dollars. The going rate of return is 10 percent. The profit is one hundred thousand dollars. Investments create an ability to produce a competitive product. For example, capital is invested to build and operate a factory. Rate of return is an opportunity to profit from the investment. The rate of return is keyed to the social structure of the competitive arena and is the focus here. Each player has a network of contacts in the arena. Something about the structure of the player’s network and the location of the player’s contacts in the social structure of the arena provides a competitive advantage in getting higher rates of return on investment. This chapter is about that advantage. It is a description of the way in which social structure renders competition imperfect by creating entrepreneurial opportunities for certain players and not for others. A player brings at least three kinds of capital to the competitive arena. Other distinctions can be made, but three are sufficient here. First, the player has financial capital: cash in hand, reserves in the bank, investments coming due, lines of credit. Second, the player has human capital. Your natural qualities—charm, health, intelligence, and looks—combined with the skills you have acquired in formal education and job experience give you abilities to excel at certain tasks. Third, the player has social capital: relationships with other players. You have friends, colleagues, and more general contacts through whom you receive opportunities to use your financial and human capital. I refer to opportunities in a broad sense, but I certainly mean to include the obvious examples of job promotions, participation in significant projects, influential access to important decisions, and so on. The social capital of people aggregates into the social capital of organizations.

scholarly journals The Internal Rate of Return Model for Life Insurance Policies

2016 ◽  
Vol 8 (2) ◽  
pp. 70
Author(s):  
Mihir Dash
Keyword(s):  
Life Insurance ◽  
Rate Of Return ◽  
Capital Asset Pricing ◽  
Rates Of Return ◽  
Asset Pricing Model ◽  
Insurance Policies ◽  
Life Insurers ◽  
Different Types ◽  
Maturity Period ◽  
Basic Purpose

<p>Life insurance policies are no longer seen solely as a means of insuring life. Due to many new features introduced by life insurers, they are seen in the new light of serving savings and even investment purposes besides the basic purpose of insuring life. The present study discusses the rates of return given by different types of policies, and the effect of mortality on these rates of return across age, sum assured, and maturity period in each type of policy studied.</p><p>The findings indicate that different types of policies give different rates of return and that mortality does have an effect on the rates of return. Endowment plans have higher rate of return with mortality incorporated, while for unit-linked investment plans, the rate of return is higher when it is treated purely as an investment instrument. The study also revealed that the unadjusted and mortality-adjusted rates of return follow a linear relationship that is very similar to the capital asset pricing model. The study opens a further scope of research by extending the methodology to include other relevant risk factors besides mortality, and for different types of policies across companies.</p>

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