Modern financial markets offer the real world's best approximation to the idealized price auction market envisioned in economic theory. Nevertheless, as the increasingly exquisite and detailed financial data demonstrate, financial markets often fail to behave as they should if trading were truly dominated by the fully rational investors that populate financial theories. These markets anomalies have spawned a new approach to finance, one which as editor Richard Thaler puts it, "entertains the possibility that some agents in the economy behave less than fully rationally some of the time." Advances in Behavioral Finance collects together twenty-one recent articles that illustrate the power of this approach. These papers demonstrate how specific departures from fully rational decision making by individual market agents can provide explanations of otherwise puzzling market phenomena. To take several examples, Werner De Bondt and Thaler find an explanation for superior price performance of firms with poor recent earnings histories in the tendencies of investors to overreact to recent information. Richard Roll traces the negative effects of corporate takeovers on the stock prices of the acquiring firms to the overconfidence of managers, who fail to recognize the contributions of chance to their past successes. Andrei Shleifer and Robert Vishny show how the difficulty of establishing a reliable reputation for correctly assessing the value of long term capital projects can lead investment analysis, and hence corporate managers, to focus myopically on short term returns. As a testing ground for assessing the empirical accuracy of behavioral theories, the successful studies in this landmark collection reach beyond the world of finance to suggest, very powerfully, the importance of pursuing behavioral approaches to other areas of economic life. Advances in Behavioral Finance is a solid beachhead for behavioral work in the financial arena and a clear promise of wider application for behavioral economics in the future.

The Second International Symposium on Cognition, Education, and Deafness in 1989 broadened and deepened the scope of investigation initiated at the first conference held five years earlier. Advances in Cognition, Education, and Deafness provides the results in a single integrated volume. The 39 scholars from 14 nations who attended offered consistent progress from the first symposium and new areas of research, especially in the study of applications in education and the new field of neuro-anatomical dimensions of cognition and deafness.

This important book has been organized under six major themes: Cognitive Assessment; Language and Cognition; Cognitive Development; Neuroscientific Issues; Cognitive Processes; and Cognitive Intervention Programs. This useful study also features programs designed to facilitate the learning of deaf individuals in cognitive realms, and questions about methodological problems facing researchers in deafness.

Advances in Cognition, Education, and Deafness also synthesizes this wealth of data with the added value of the objective perspective of a cognitive psychologist not directly involved in the field of deafness. Teachers, students, scholars, and researchers will consider this an indispensable reference for years to come.

Advances in the Analysis of Spanish Exclamatives is the first book entirely devoted to Spanish exclamatives, a special sentence type often overlooked by contemporary linguists and neglected in standard grammatical descriptions. The seven essays in this volume, each by a leading specialist on the topic, scrutinize the syntax—as well as the semantic and pragmatic aspects—of exclamations on theoretical grounds.
The book begins by summarizing, commenting on, and evaluating previous descriptive and theoretical contributions on Spanish exclamatives. This introductory overview also contains a detailed classification of Spanish exclamative grammatical types, along with an analysis of their main properties. Special attention is devoted in the book throughoutto the syntactic structures displayed by exclamative patterns; the differences between exclamations and other speech acts (specifically questions and imperatives); the peculiar semantic denotation of exclamative words and their relationship to quantifiers denoting high degree; the semantics of adjectives and adverbs expressing extreme evaluation; the form and interpretation of negated and embedded exclamatives; the properties of optative utterances; and the different ways in which expressive contents are related to unexpected reactions of the speaker, as well as possible knowledge shared by interlocutors.
This groundbreaking volume provides a complete and accurate picture of Spanish exclamation by integrating its numerous component parts.
 

This volume presents innovative research on issues of importance to the well-being of older persons: labor market behavior, health care, housing and living arrangements, and saving and wealth.

Specific topics include the effect of labor market rigidities on the employment of older workers; the effect on retirement of the availability of continuation coverage benefits; and the influence of the prospective payment system (PPS) on rising Medicare costs. Also considered are the effects of health and wealth on living arrangement decisions; the incentive effects of employer-provided pension plans; the degree of substitution between 401(k) plans and other employer-provided retirement saving arrangements; and the extent to which housing wealth determines how much the elderly save and consume.

Two final studies use simulations that describe the implications of stylized economic models of behavior among the elderly. This timely volume will be of interest to anyone concerned with the economics of aging.

This volume is a sequel to the comprehensive study by Professors Robert A. Wardle and James A. McLeod, The Zoology of Tapeworms, published by the University of Minnesota Press in 1952. The new book is based on research and publications which have become available since the earlier volume was published.

While much of the information in the earlier book was devoted to the identification, description, and classification of families, genera, and species, research efforts in the last two decades have been focused in new directions. Although some researchers have been engaged in revising the original classification in the light of new findings, others have been exploring specificity, serology, and genetics, and have undertaken studies of host-parasite relationships, pathogenesis, and therapeutics in the treatment of tapeworm infestation. These investigations have been facilitated by laboratory techniques which were not available for earlier studies.Following introductory chapters on the recent expansion of tapeworm research and the phylogeny of tapeworms, the authors devote a chapter each to 21 orders of tapeworms. The material is based on a survey of the literature including more than 2,000 papers on tapeworm zoology published since 1950. Chapters on laboratory propagation and on therapeutics complete the text, and there is an extensive list of references. Many drawings illustrate the text.

Religious institutions are often engaged in influencing the beliefs and values that individuals hold. But religious groups can also challenge how people think about democracy, including the extension of equal rights and liberties regardless of viewpoint, or what is commonly called political tolerance.

The essays in Religion and Political Tolerance in America seek to understand how these elements interrelate. The editor and contributors to this important volume present new and innovative research that wrestles with the fundamental question of the place of religion in democratic society. They address topics ranging from religious contributions to social identity to the political tolerance that religious elites (clergy) hold and advocate to others, and how religion shapes responses to intolerance.

The conclusion, by Ted Jelen, emphasizes that religion’s take on political tolerance is nuanced and that they are not incompatible; religion can sometimes enhance the tolerance of ordinary citizens.

Sea turtles are flagship species for the world's oceans. They traverse international boundaries during their migrations, serve as vehicles for marine nutrients to terrestrial habitats, and embody the often tenuous relationship between human action and ecosystem health. The East Pacific Ocean is home to some of the most dynamic marine ecosystems, and the most unique sea turtles. Marine biodiversity within this massive ocean region abounds in mangrove estuaries, seagrass pastures, coral reefs, the open ocean, and many other habitats, with sea turtles often the most conspicuous species present. The distinctive traits of the Eastern Pacific have resulted in the smallest leatherbacks, a singular morph of the green turtle, dark and steeply domed olive ridleys, and the most cryptic hawksbills on the planet. Only now are we beginning to understand how these varieties have evolved.

However, the oceanographic conditions that make this an epicenter of sea turtle activity also promote massive artisanal and industrial fishing efforts that, coupled with illegal harvesting of eggs and turtles, have led to declines of several turtle populations in the region. The essays and stories in Sea Turtles of the Eastern Pacific describe for the first time the history of this exploitation, as well as recent sea turtle conservation initiatives and scientific research in the region. The first third of the book considers the biology of the turtles, focusing on general overviews of current ecological management challenges facing the turtles' survival. The second third treats issues of marine policy related to turtle conservation. In conclusion, the book offers six compelling stories of conservation success. By the end, readers will have gained a in-depth view not only of these magnificent creatures, but also the people involved in research and conservation efforts in one of the most remarkable regions of our planet.