The European Power Hierarchy, Member State Trust, and Public Support for the Common Security and Defense Policy. Jean Monnet/Robert Schuman Paper Series Vol. 15 No. 2, August 2015

Existing studies focus on overall support for European integration while less work has been done on explaining public opinion on specific policy areas, such as the development of the Common Security and Defense Policy (CSDP). We hypothesize that the probability of supporting a CSDP increases with greater levels of trust in the European Union member states, most notably the more powerful members. This variable is critical since integration’s development is influenced strongly by, and dependent on, the resources of the relatively more powerful European member states. Binary logistic regression analyses using pooled repeated cross-sectional data from the Eurobarometer surveys conducted from 1992 to 1997 among individuals of 11 member states largely support these claims.

Trust and Reputation in Internet Auctions

Exchange between anonymous actors in Internet auctions corresponds to a one-shot prisoner's dilemma-like situation. Therefore, in any given auction the risk is high that seller and buyer will cheat and, as a consequence, that the market will collapse. However, mutual cooperation can be attained by the simple and very efficient institution of a public rating system. By this system, sellers have incentives to invest in reputation in order to enhance future chances of business. Using data from about 200 auctions of mobile phones we empirically explore the effects of the reputation system. In general, the analysis of nonobtrusive data from auctions may help to gain a deeper understanding of basic social processes of exchange, reputation, trust, and cooperation, and of the impact of institutions on the efficiency of markets. In this study we report empirical estimates of effects of reputation on characteristics of transactions such as the probability of a successful deal, the mode of payment, and the selling price (highest bid). In particular, we try to answer the question whether sellers receive a "premium" for reputation. Our results show that buyers are willing to pay higher prices for reputation in order to diminish the risk of exploitation. On the other hand, sellers protect themselves from cheating buyers by the choice of an appropriate payment mode. Therefore, despite the risk of mutual opportunistic behavior, simple institutional settings lead to cooperation, relatively rare events of fraud, and efficient markets.

Personality traits and the propensity to trust friends and strangers

Research on the foundations of social trust mainly concentrates on the evaluation of one's social environment. Empirical evidence focusing on the psychological origins of social trust is quite rare and the findings of these few studies remain inconclusive. Two innovations are proposed in order to systemize the knowledge about the foundations of social trust. First, we propose using a trust measure that is sensitive to different categories of trustees and refers to a realistic situation. Second, we argue for a broad conception of personality, rather than focusing only on selected attributes. Using data from a unique Swiss population survey, we show that the impact of personality traits on trust in strangers is stronger than on trust in friends. While conscientiousness and openness, in particular, are important traits for the development of both trust in friends and strangers, agreeableness is related to trust in strangers.

Moral Opinion Polarization and the Erosion of Trust

Since Puntam's seminal work on declining levels of social capital, the question of how social trust is formed has reached unprecedented heights of critical enquiry. While most of the current research concentrates on ethnic diversity and income inequality as the main influences driving down generalized trust, we focus on opinion polarization as another potential impact factor on trust. In more detail, we investigate the extent to which polarization over morally charged issues such as homsexuality, abortion and euthanasia affects individuals' likelihood to trust others. We hypothesize that moral issues have a natural tendency to divide societies' opinions into opposing poles and, thus, to challenge social cohesion in modern civil societies. Based on hierarchical analyses of the fifth wave of the World Values Survey (WVS) — comprising a sample of 39 countries — our results reveal that individuals living in countries characterized by more opinion polarization tend to have less trust in other people.

An SDF approach to hedge funds’ tail risk: evidence from Brazilian funds

The main purpose of this paper is to propose a methodology to obtain a hedge fund tail risk measure. Our measure builds on the methodologies proposed by Almeida and Garcia (2015) and Almeida, Ardison, Garcia, and Vicente (2016), which rely in solving dual minimization problems of Cressie Read discrepancy functions in spaces of probability measures. Due to the recently documented robustness of the Hellinger estimator (Kitamura et al., 2013), we adopt within the Cressie Read family, this specific discrepancy as loss function. From this choice, we derive a minimum Hellinger risk-neutral measure that correctly prices an observed panel of hedge fund returns. The estimated risk-neutral measure is used to construct our tail risk measure by pricing synthetic out-of-the-money put options on hedge fund returns of ten specific categories. We provide a detailed description of our methodology, extract the aggregate Tail risk hedge fund factor for Brazilian funds, and as a by product, a set of individual Tail risk factors for each specific hedge fund category.

Electoral Volatility, Political Sophistication, Trust and Efficacy

In this article we investigate voter volatility and analyze the causes and motives of switching vote intentions. We test two main sets of variables linked to volatility in literature; political sophistication and ‘political (dis)satisfaction’. Results show that voters with low levels of political efficacy tend to switch more often, both within a campaign and between elections. In the analysis we differentiate between campaign volatility and inter-election volatility and by doing so show that the dynamics of a campaign have a profound impact on volatility. The campaign period is when the lowly sophisticated switch their vote intention. Those with higher levels of interest in politics have switched their intention before the campaign has started. The data for this analysis are from the three wave PartiRep Belgian Election Study (2009).

Annotated record of the detailed examination of Mn deposits from the H.M.S. Sealark Percy Sladen Trust Expedition in the Indian ocean

In 1905, the Percy Sladen Trust Expedition, under the supervision of Stanley Gardiner in H.M.S. 'Sealark' made an extensive cruise in the Indian Ocean. The author received 79 samples from Mr. Gardiner which were thoroughly examined.

True to trust ; and Croaking Kate & Chirping Jane /

Disbound Original Held in Oak Street Library Facility.

Time-critical aid : questionable use of disaster assistance funds for Peru : report to the Administrator, Agency for International Development /

"B-220921"--P. 1.

Types of work performed using resurfacing, restoration, rehabilitation, and reconstruction federal highway funds : report to the chairman, Subcommittee on Investigations and Oversight, Committee on Public Works and Transportation, U.S. House of Representatives /

"B-212809"--Prelim. p. [1].

Knowing our waters : tribal reporting under section 305(b).

Mode of access: Internet.

Memorandum on the impact of the First Amendment to the Constitution upon Federal aid to education : Memorandum on the Constitutional authority of the Congress to enact S. 1021. Federal programs under which institutions with religious affiliation receive Federal funds through grants or loans.

Documents prepared by the Department's legal staff in response to the request of Senator Morse, Chairman, Subcommittee on Education, committee on Labor and Public Welfare.

Better targeting of federal funds needed to eliminate unsafe bridges. Comptroller General's report to the Honorable James R. Sasser, United States Senate.

Mode of access: Internet.

General mortgage : Lehigh and New England Railroad Company to guarantee trust and safe deposit company, trustee : $15,000,000 general mortgage gold bonds : dated July 1, 1914, principal due July 1, 1954.

Cover-title.