Rational mean-variance decisions for subsistence farmers

Article Abstract:

Various types of approximations of expected utility can be used in the application of portfolio theory. As a rule, these approximations of expected utility can be obtained using an appropriate quadratic function. However, the validity of differentiating between these various types of approximations of expected utility in mean-variance analysis has been challenged by recent research. The importance of the choice of particular approximation in empirical research is thus the focus of a re-examination of the issue in a nontraditional financial context. The results of the study reaffirm the importance of choosing an appropriate approximation of expected utility.

Research, Utility theory, Utility functions, Subsistence economy

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Partitioning Variance in Regression Analyses for Developing Policy Impact Models: The Case of the Federal Medicaid Program

Article Abstract:

The conventional regression analysis is expanded in the development of quantative policy impact models. Partition of variance to examine the secondary and higher order impact of the policy variables is included. The example used is the United States Medicaid program. The impact of differential federal matching ratio on expenditure from state and local sources is considered. The partition of variance proves to be a valuable tool for assessing policy impact. An appendix gives dependent and independent variables and the source of data. Tables are included.

Laws, regulations and rules, National government, Medicaid, Federal government

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Partitioning Variance in Regression Analyses for Developing Policy Impact Models: The Case of the Federal Medicaid Program

Article Abstract:

Regression analysis is the usual methodology used in policy impact models. However, secondary and higher order variables should also be studied. The Federal Medicaid program is studied with these variables analyzed. The variance is partitioned into unique and common parts.

Forecasting, Regression analysis, Modeling, Data modeling software, National Government, Health Care, Government, Health and Welfare

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