This paper incorporates endogenous evolution of illiquid human wealth into the standard framework of optimal portfolio selection. The presence of human capital investment (rather than an exogenous stream of labor income) helps explain some patterns of the life-cycle asset allocation observed in the data, as well as generate new predictions.
Despite the conventional wisdom of financial planners as well as the normative prescriptions of portfolio theory, which suggest that the share of stocks in households’ portfolio should decrease with age, young people hold very little stocks. This observation is the driving force behind the approach of Constantinides, Donaldson, and Mehra (2002) to addressing the equity premium puzzle. Moreover, conditional on participation, researchers have found that the share of equities in investors’ portfolios display increasing or hump-shaped profiles over the life-cycle (e.g. Poterba and Samwick (1995) and Ameriks and Zeldes (2001)). Again, this is in stark contrast with the standard life-cycle portfolio advice that young households should allocate most of their portfolio to equities, and reduce this allocation as the present value of their future labor income decreases with age (eg. Jagannathan and Kocherlakota (1996)).
This Technology Reference Guide for Radiologically Contaminated Surfaces (Guide) is designed to help site managers, Remedial Project Managers (RPMs), On-Scene Coordinators (OSCs), their contractors and others identify technologies that are potentially useful in removing radiological contaminants from building, structure, and equipment surfaces as part of a site remediation. The Guide is primarily targeted at sites subject to the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA), as amended by the Superfund Amendments and Reauthorization Act of 1986 (SARA), although it is hoped that it will be useful for other locations facing similar problems.
To make appropriate site response action decisions, site managers need pertinent technical information to help guide them. For this reason, the Guide provides basic information on technologies and references to further information sources. As such, this Guide is decision-focused to help the project manager select an appropriate technology for surface decontamination that will meet the cleanup criteria.
Vegetarian diets have been around for hundreds of years, but the practice has only been adopted more widely in the last 50 years. It is estimated that in the UK, between 3 and 7% of the population are vegetarian and women are more likely to be vegetarian than men.
There are many interpretations of a 'vegetarian’ diet, ranging from avoiding red meat most of the time through to a strict vegan diet, where all foods of animal origin are excluded. In an omnivorous (meat-containing) diet, animal-derived foods like meat, fish, eggs and dairy products normally provide substantial amounts of food energy, protein, calcium, iron, zinc, vitamins A, D and B 12 . Nutritional status is at risk when appropriate substitutions are not made for any group of foods that is omitted from the diet, for whatever reason.
