Unsafe Sex in the City: Risk Pricing in the London Area
This paper studies the incidence, determinants, and pricing of unprotected oral sex in the London sex services market. The analysis is based upon matched sex worker–client panel data, which were collected from ‘field reports’ on PunterNet.com website over the 1999–2009 time period. We find a steady increase in the incidence of unprotected oral sex during this period, rising from <20% to over 50% of all transactions. We show that the average premium for unprotected oral sex amounts to about 10–14% of the transaction price, and that this premium is higher if a sex worker has agency affiliation. Agency affiliated sex workers are also less likely to engage in unprotected oral sex compared to independent sex workers.
The present paper substantiates the demand for a unified grid of risk premiums in appraisal of mineral reserves and resources. An algorithm of construction of such a grid is proposed. This algorithm is based on correlation between the value of risk premium, the category of geological information about reserves (resources) and the class of geological complexity of mineral reserves (resources). Recurrent formulae are proposed for accurate calculation of risk premiums. As against the existing grids of risk premiums, the proposed model is based on mathematical calculation rather than on expert estimation of risk premiums. It helps reduce the impact of subjectivity. It also helps easily modify the grid if necessary. In addition, the proposed model takes into account the nonlinear growth of risk premiums with decrease of amount of information available about mineral reserves (resources). This nonlinearity is almost absent in the existing grids of risk premiums. The proposed grid of risk premiums is used as a basis for the evaluation method for economic effectiveness of geological exploration. This method takes into account not only the increase of mineral reserves (resources), but also the decrease of risk of the reserves appraisal and the decrease of risk premium. This method helps calculate additional economic effect that is neglected in the existing methods. The main inconvenience of the proposed unified grid of risk premiums is that it disregards specific features of mineral reserves that may have a great impact on risk evaluation. That is why the proposed method should be used at earlier stages of geological exploration when it is necessary to make decision about the use of mineral reserves (resources). A more precise evaluation of risk should include expert estimations
The effectiveness of various countermeasures against illegal activities and corruption is analyzed in a situation when law enforcement is performed by corrupt policemen, while the probability of punishment and the size of bribe are supposed to be determined endogenously. In particular, the effect of increased punishment (fi ne) and greater amount of resources allocated to combat these offenses is examined.
A number of papers are reviewed containing social and economic research of commercial sex market (prostitution). A systematic approach to various aspects of prostitution helps reveal and identify its key features as a market and a type of employment, which can form the basis for economic modeling of commercial sex industry.
Smoking is a problem, bringing signifi cant social and economic costs to Russiansociety. However, ratifi cation of the World health organization Framework conventionon tobacco control makes it possible to improve Russian legislation accordingto the international standards. So, I describe some measures that should be taken bythe Russian authorities in the nearest future, and I examine their effi ciency. By studyingthe international evidence I analyze the impact of the smoke-free areas, advertisementand sponsorship bans, tax increases, etc. on the prevalence of smoking, cigaretteconsumption and some other indicators. I also investigate the obstacles confrontingthe Russian authorities when they introduce new policy measures and the public attitudetowards these measures. I conclude that there is a number of easy-to-implementanti-smoking activities that need no fi nancial resources but only a political will.
One of the most important indicators of company's success is the increase of its value. The article investigates traditional methods of company's value assessment and the evidence that the application of these methods is incorrect in the new stage of economy. So it is necessary to create a new method of valuation based on the new main sources of company's success that is its intellectual capital.