DOCSLIB.ORG

Sentiment Knowledge Enhanced Pre-Training for Sentiment Analysis

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Sentiment Knowledge Enhanced Pre-Training for Sentiment Analysis SKEP: Sentiment Knowledge Enhanced Pre-training for Sentiment Analysis Hao Tianz;y, Can Gaoy, Xinyan Xiaoy, Hao Liuy, Bolei Hey, Hua Wuy, Haifeng Wangy, Feng Wuz yBaidu Inc., Beijing, China zUniversity of Science and Technology of China ftianhao,gaocan01,xiaoxinyan,liuhao24,hebolei,wu hua, [email protected], [email protected] Abstract Yang et al., 2019) have shown their powerfulness in learning general semantic representations, and Recently, sentiment analysis has seen remark- have remarkably improved most natural language able advance with the help of pre-training processing (NLP) tasks like sentiment analysis. approaches. However, sentiment knowledge, such as sentiment words and aspect-sentiment These methods build unsupervised objectives at pairs, is ignored in the process of pre-training, word-level, such as masking strategy (Devlin et al., despite the fact that they are widely used in 2019), next-word prediction (Radford et al., 2018) traditional sentiment analysis approaches. In or permutation (Yang et al., 2019). Such word- this paper, we introduce Sentiment Knowl- prediction-based objectives have shown great abili- edge Enhanced Pre-training (SKEP) in order ties to capture dependency between words and syn- to learn a unified sentiment representation tactic structures (Jawahar et al., 2019). However, for multiple sentiment analysis tasks. With the help of automatically-mined knowledge, as the sentiment information of a text is seldom ex- SKEP conducts sentiment masking and con- plicitly studied, it is hard to expect such pre-trained structs three sentiment knowledge prediction general representations to deliver optimal results objectives, so as to embed sentiment informa- for sentiment analysis (Tang et al., 2014). tion at the word, polarity and aspect level into Sentiment analysis differs from other NLP tasks pre-trained sentiment representation. In partic- in that it deals mainly with user reviews other than ular, the prediction of aspect-sentiment pairs is news texts. There are many specific sentiment converted into multi-label classification, aim- ing to capture the dependency between words tasks, and these tasks usually depend on differ- in a pair. Experiments on three kinds of ent types of sentiment knowledge including senti- sentiment tasks show that SKEP significantly ment words, word polarity and aspect-sentiment outperforms strong pre-training baseline, and pairs. The importance of these knowledge has been achieves new state-of-the-art results on most verified by tasks at different level, for instance, of the test datasets. We release our code at sentence-level sentiment classification (Taboada https://github.com/baidu/Senta. et al., 2011; Shin et al., 2017; Lei et al., 2018), aspect-level sentiment classification (Vo and Zhang, 1 Introduction 2015; Zeng et al., 2019), opinion extraction (Li and Sentiment analysis refers to the identification of Lam, 2017; Gui et al., 2017; Fan et al., 2019) and sentiment and opinion contained in the input texts so on. Therefore, we assume that, by integrating that are often user-generated comments. In practice, these knowledge into the pre-training process, the sentiment analysis involves a wide range of specific learned representation would be more sentiment- tasks (Liu, 2012), such as sentence-level sentiment specific and appropriate for sentiment analysis. classification, aspect-level sentiment classification, In order to learn a unified sentiment representa- opinion extraction and so on. Traditional meth- tion for multiple sentiment analysis tasks, we pro- ods often study these tasks separately and design pose Sentiment Knowledge Enhanced Pre-training specific models for each task, based on manually- (SKEP), where sentiment knowledge about words, designed features (Liu, 2012) or deep learning polarity, and aspect-sentiment pairs are included to (Zhang et al., 2018). guide the process of pre-training. The sentiment Recently, pre-training methods (Peters et al., knowledge is first automatically mined from un- 2018; Radford et al., 2018; Devlin et al., 2019; labeled data (Section 3.1). With the knowledge 4067 Proceedings of the 58th Annual Meeting of the Association for Computational Linguistics, pages 4067–4076 July 5 - 10, 2020. c 2020 Association for Computational Linguistics Sentiment product fast appreciated Prediction x1 x2 x3 x4 x5 x6 x7 x8 x9 x10 & Transformer Encoder !"#$% this [MASK] came really [MASK] and I [MASK] it & !Sentiment Masking & !"#$% this product came really fast and I appreiated it aspect-sentiment pair sentiment word Figure 1: Sentiment Knowledge Enhanced Pre-training (SKEP). SKEP contains two parts: (1) Sentiment masking recognizes the sentiment information of an input sequence based on automatically-mined sentiment knowledge, and produces a corrupted version by removing these informations. (2) Sentiment pre-training objectives require the transformer to recover the removed information from the corrupted version. The three prediction objectives on top are jointly optimized: Sentiment Word (SW) prediction (on x9), Word Polarity (SP) prediction (on x6 and x9), Aspect-Sentiment pairs (AP) prediction (on x1). Here, the smiley denotes positive polarity. Notably, on x6, only SP is calculated without SW, as its original word has been predicted in the pair prediction on x1. mined, sentiment masking (Section 3.2) removes 2 Background: BERT and RoBERTa sentiment information from input texts. Then, the pre-training model is trained to recover the senti- BERT (Devlin et al., 2019) is a self-supervised ment information with three sentiment objectives representation learning approach for pre-training (Section 3.3). a deep transformer encoder (Vaswani et al., 2017). BERT constructs a self-supervised objective called SKEP integrates different types of sentiment masked language modeling (MLM) to pre-train the knowledge together and provides a unified senti- transformer encoder, and relies only on large-size ment representation for various sentiment analysis unlabeled data. With the help of pre-trained trans- tasks. This is quite different from traditional senti- former, downstream tasks have been substantially ment analysis approaches, where different types improved by fine-tuning on task-specific labeled of sentiment knowledge are often studied sepa- data. We follow the method of BERT to construct rately for specific sentiment tasks. To the best of masking objectives for pre-training. our knowledge, this is the first work that has tack- led sentiment-specific representation during pre- BERT learns a transformer encoder that can pro- training. Overall, our contributions are as follows: duce a contextual representation for each token of input sequences. In reality, the first token of an in- • We propose sentiment knowledge enhanced put sequence is a special classification token [CLS]. pre-training for sentiment analysis, which pro- In fine-tuning step, the final hidden state of [CLS] vides a unified sentiment representation for is often used as the overall semantic representation multiple sentiment analysis tasks. of the input sequence. In order to train the transformer encoder, MLM • Three sentiment knowledge prediction objec- is proposed. Similar to doing a cloze test, MLM tives are jointly optimized during pre-training predicts the masked token in a sequence from so as to embed sentiment words, polarity, their placeholder. Specifically, parts of input to- aspect-sentiment pairs into the representation. kens are randomly sampled and substituted. BERT In particular, the pair prediction is converted uniformly selects 15% of input tokens. Of these into multi-label classification to capture the sampled tokens, 80% are replaced with a special dependency between aspect and sentiment. masked token [MASK], 10% are replaced with a random token, 10% are left unchanged. After the • SKEP significantly outperforms the strong construction of this noisy version, the MLM aims pre-training methods RoBERTa (Liu et al., to predict the original tokens in the masked posi- 2019) on three typical sentiment tasks, and tions using the corresponding final states. achieves new state-of-the-art results on most Most recently, RoBERTa (Liu et al., 2019) of the test datasets. significantly outperforms BERT by robust opti- 4068 mization without the change of neural structure, Here, p(:) denotes probability estimated by count. and becomes one of the best pre-training mod- Finally, the polarity of a word is determined by the els. RoBERTa also removes the next sentence pre- difference between its PMI scores with all positive diction objective from standard BERT. To verify seeds and that with all negative seeds. the effectiveness of our approach, this paper uses X RoBERTa as a strong baseline. WP(w) = PMI(w; s) (2) WP(s)=+ X 3 SKEP: Sentiment Knowledge − PMI(w; s) Enhanced Pre-training WP(s)=− We propose SKEP, Sentiment Knowledge En- If WP(w) of a candidate word w is larger than 0, hanced Pre-training, which incorporates sentiment then w is a positive word, otherwise it is negative. knowledge by self-supervised training. As shown After mining sentiment words, aspect-sentiment in Figure1, SKEP contains sentiment masking and pairs are extracted by simple constraints. An aspect- sentiment pre-training objectives. Sentiment mask- sentiment pair refers to the mention of an aspect ing (Section 3.2) recognizes the sentiment informa- and its corresponding sentiment word. Thus, a tion of an input sequence based on automatically- sentiment word with its nearest noun will be con- mined sentiment knowledge (Section 3.1), and pro-
Load more

Recommended publications
  • Affection Driven Neural Networks for Sentiment Analysis
    Proceedings of the 12th Conference on Language Resources and Evaluation (LREC 2020), pages 112–119 Marseille, 11–16 May 2020 c European Language Resources Association (ELRA), licensed under CC-BY-NC Affection Driven Neural Networks for Sentiment Analysis Rong Xiang1, Yunfei Long34, Mingyu Wan25, Jinghang Gu2, Qin Lu1, Chu-Ren Huang2 The Hong Kong Polytechnic University12, University of Nottingham3, Peking University4, University of Essex5 Department of Computing, 11 Yuk Choi Road, Hung Hom, Hong Kong (China)1 Chinese and Bilingual Studies, 11 Yuk Choi Road, Hung Hom, Hong Kong (China)2 NIHR Nottingham Biomedical Research Centre, Nottingham (UK) 3 Engineering, University of Essex, Colchester (UK)4 School of Foreign Languages, 5 Yiheyuan Road, Haidian, Beijing (China)5 School of Computer Science and Electronic [email protected], [email protected], fmingyu.wan,jinghgu,[email protected], [email protected] Abstract Deep neural network models have played a critical role in sentiment analysis with promising results in the recent decade. One of the essential challenges, however, is how external sentiment knowledge can be effectively utilized. In this work, we propose a novel affection-driven approach to incorporating affective knowledge into neural network models. The affective knowledge is obtained in the form of a lexicon under the Affect Control Theory (ACT), which is represented by vectors of three-dimensional attributes in Evaluation, Potency, and Activity (EPA). The EPA vectors are mapped to an affective influence value and then integrated into Long Short-term Memory (LSTM) models to highlight affective terms. Experimental results show a consistent improvement of our approach over conventional LSTM models by 1.0% to 1.5% in accuracy on three large benchmark datasets.
    [Show full text]
  • Separation Anxiety Disorder in the DSM-5 Era
    Modern psychopathologies or old diagnoses? Separation anxiety disorder in the DSM-5 era C. Carmassi1, C. Gesi1, E. Massimetti1, M.K. Shear2, L. Dell’Osso1 1 Department of Clinical and Experimental Medicine, University of Pisa, Pisa, Italy; 2 School of Social Work, Columbia University, New York, USA Summary In all cases, Separation Anxiety Disorder is associated with a Separation Anxiety Disorder has been recently classified into the severe impact on the overall functioning. Most relevant research DSM-5 section of Anxiety Disorders, acknowledging its role not in the field is discussed highlighting the need of a paradigm shift only in childhood and adolescence but also across the whole in which clinicians are alerted to identify and treat this con- lifespan. In the DSM-IV-TR, in fact, this condition was typically dition in all age upon the recent DSM-5 reformulation will be considered to begin in childhood. Clinical data report preva- highlighted. lence rates from 20 to 40%, showing high comorbidity rates with most mental disorders. Epidemiological data highlight that Key words in fact one third of childhood cases persist into adulthood, while Separation anxiety • Panic disorder • Anxiety disorders • Complicated the majority of adult cases reports its first onset in adulthood. grief • Post-traumatic stress disorder Separation anxiety disorder across the DSM-5 der are considered to be free of impairing anxiety over their lifetime. However, it has been shown that more The fifth edition of the Diagnostic and Statistical Manual than one third of subjects classified as childhood cases of Mental Disorders (DSM-5) 1 has recently introduced might persist into adulthood 5 and some epidemiologi- important classification changes, including the intro- cal and clinical data have highlighted that the preva- duction of Separation Anxiety Disorder has into the sec- lence of Separation Anxiety Disorder might be greater tion of Anxiety Disorders.
    [Show full text]
  • From Grasping to Emptiness – Excursions Into the Thought-World of the Pāli Discourses (2)
    From Grasping to Emptiness – Excursions into the Thought-world of the Pāli Discourses (2) Anālayo © 2010 Anālayo Published by The Buddhist Association of the United States 2020 Route 301, Carmel, New York 10512 Printed in Taiwan Cover design by Laurent Dhaussy ISBN 978-0-615-25529-3 Introduction 3 1. Grasping / Upādāna 5 1.1 Grasping at Sensual Pleasures 5 1.2 Grasping at Views 7 1.3 Grasping at Rules and Observances 9 1.4 Grasping at a Doctrine of Self 10 1.5 The Five Aggregates [Affected by] Clinging 13 1.6 Grasping and Nibbāna 15 1.7 Freedom from Grasping 16 2. Personality View / Sakkāyadihi 19 2.1 Manifestations of Personality View 19 2.2 Removal of Personality View 24 3. Right View / Sammādihi 27 3.1 Wrong View 27 3.2 Right View and Investigation 29 3.3 Right View as the Forerunner of the Path 31 3.4 Arrival at Right View 33 3.5 Right View and the Four Noble Truths 34 4. Volitional Formations / Sakhārā 39 4.1 Sakhāras as an Aggregate 40 4.2 Sakhāras as a Link in Dependent Arising 44 4.3 Sakhāras in General 48 5. Thought / Vitakka 55 5.1 The Ethical Perspective on Thought 56 5.2 The Arising of Thought 57 5.3 The Vitakkasahāna-sutta 60 5.4 Vitakka in Meditation 64 5.5 Thought Imagery 66 6. Wise Attention / Yoniso Manasikāra 69 6.1 Wise ( Yoniso ) 69 6.2 Attention ( Manasikāra ) 72 6.3 The Implications of Wise Attention 72 6.4 The Importance of Wise Attention 78 7.
    [Show full text]
  • Epiphany in James Joyce's a Portrait of the Artist As a Young Man
    Epiphany in James Joyce's a Portrait of the Artist as a Young Man Grgurić, Kristijan Undergraduate thesis / Završni rad 2019 Degree Grantor / Ustanova koja je dodijelila akademski / stručni stupanj: University of Rijeka, Faculty of Humanities and Social Sciences / Sveučilište u Rijeci, Filozofski fakultet Permanent link / Trajna poveznica: https://urn.nsk.hr/urn:nbn:hr:186:857533 Rights / Prava: In copyright Download date / Datum preuzimanja: 2021-09-24 Repository / Repozitorij: Repository of the University of Rijeka, Faculty of Humanities and Social Sciences - FHSSRI Repository UNIVERSITY OF RIJEKA FACULTY OF HUMANITIES AND SOCIAL SCIENCES Kristijan Grgurić Epiphany in James Joyce's A Portrait of the Artist as a Young Man Submitted in partial fulfilment of the requirements for the B.A. in English Language and Literature and Art History at the University of Rijeka Supervisor: Mr. sc. Irena Grubica, viši predavač Rijeka, September 2019 2 Abstract: The main focus of this thesis is explaining the notion of epiphany in James Joyce's novel A Portrait of the Artist as a Young Man, how the epiphanies in the novel affect the development of the protagonist, Stephen Dedalus, their relation to Joyce's theory of aesthetics, as well as the development and shift in the narrative aspect of the novel. In the first part of the thesis, I will introduce the character of Stephen Dedalus, the protagonist of the novel, contextualizing his line of thought, the first steps of his development as an artist and philosopher and his uniqueness as an individual. I will present the importance of epiphanies to Joyce's characters and Joyce himself, as well as putting the notion of epiphany in the context of modernist literature.
    [Show full text]
  • A Cycle of C-Changes
    A Cycle of C-changes: a working model for the literary epiphany Artur Schouten s1092146 MA thesis June 2014 first reader: Dr. Wim Tigges second reader: Prof. Dr. Peter Liebregts A Cycle of C-changes: a working model for the literary epiphany Schouten 1 Table of Contents: page: 1. Introduction 2 2. Defining epiphany and associated notions 6 3. The literary epiphany - an overview of received knowledge and previous research 10 4. Thesis Statement: A Cycle of C-Changes 25 5. A Portrait of the Artist as a Young Man: entering the world of the artist as he enters into the world 34 6. Vision and revision: the long road to realization in the development of Kerouac’s On the Road 57 7. Conclusion 84 Selected bibliography and works cited 90 A Cycle of C-changes: a working model for the literary epiphany Schouten 2 1. Introduction Change is a keyword in much of the world’s literature, as human beings are hardly ever static and unchanging. Although there are instances in which hardly any change of character, or change of heart, or change of scene occurs in the course of a narrative – Beckett’s Waiting for Godot comes to mind – more often the protagonist’s progress is marked by significant changes. Hence, one of the most commonly discussed aspects when dealing with a work of literature is that of character development. Another key mechanism is that of rising and falling action. This is conventionally associated with drama, but equally applies to prose. Introduced in 1894 by the German critic and dramatist Gustav Freytag (Prince 36), the framework for plot analysis which became known as Freytag’s Pyramid consists of an upright triangular shape depicting on the left-hand side of the triangle the notion of rising action or the increase of tension, the tip of the pyramid representing the climax or culmination of the action, and the right-hand side standing for falling action or the decrease of tension.
    [Show full text]
  • Psychological Assessment
    Psychological Assessment The Psychology of Spite and the Measurement of Spitefulness David K. Marcus, Virgil Zeigler-Hill, Sterett H. Mercer, and Alyssa L. Norris Online First Publication, February 17, 2014. http://dx.doi.org/10.1037/a0036039 CITATION Marcus, D. K., Zeigler-Hill, V., Mercer, S. H., & Norris, A. L. (2014, February 17). The Psychology of Spite and the Measurement of Spitefulness. Psychological Assessment. Advance online publication. http://dx.doi.org/10.1037/a0036039 Psychological Assessment © 2014 American Psychological Association 2014, Vol. 26, No. 2, 000 1040-3590/14/$12.00 DOI: 10.1037/a0036039 The Psychology of Spite and the Measurement of Spitefulness David K. Marcus Virgil Zeigler-Hill Washington State University Oakland University Sterett H. Mercer Alyssa L. Norris University of British Columbia Washington State University Spite is an understudied construct that has been virtually ignored within the personality, social, and clinical psychology literatures. This study introduces a self-report Spitefulness Scale to assess individual differences in spitefulness. The scale was initially tested on a large sample of 946 college students and cross-validated on a national sample of 297 adults. The scale was internally consistent in both samples. Factor analysis supported a 1-factor solution for the initial pool of 31 items. Item response theory analysis was used to identify the best performing of the original 31 items in the university sample and reduce the scale to 17 items. Tests of measurement invariance indicated that the items functioned similarly across both university and national samples, across both men and women, and across both ethnic majority and minority groups.
    [Show full text]
  • From Anxiety to Panic Disorder : Effectiveness of Cognitive Behavioral Therapy and Mindfulness Based Stress Reduction As Treatment in Adolescence
    Smith ScholarWorks Theses, Dissertations, and Projects 2013 From anxiety to panic disorder : effectiveness of cognitive behavioral therapy and mindfulness based stress reduction as treatment in adolescence Carrie-Anne Swiatek Smith College Follow this and additional works at: https://scholarworks.smith.edu/theses Part of the Social and Behavioral Sciences Commons Recommended Citation Swiatek, Carrie-Anne, "From anxiety to panic disorder : effectiveness of cognitive behavioral therapy and mindfulness based stress reduction as treatment in adolescence" (2013). Masters Thesis, Smith College, Northampton, MA. https://scholarworks.smith.edu/theses/610 This Masters Thesis has been accepted for inclusion in Theses, Dissertations, and Projects by an authorized administrator of Smith ScholarWorks. For more information, please contact [email protected]. Carrie-Anne Swiatek From Anxiety to Panic Disorder: Effectiveness of Cognitive Behavioral Therapy and Mindfulness Based Stress Reduction as Treatment in Adolescence ABSTRACT Research has shown that mental illness often surfaces during adolescence and early adulthood, and can frequently extend throughout adulthood. Without treatment, the consequences of mental illness for individuals and society can be overwhelming. Untreated individuals often fall victim to unnecessary disabilities, unemployment, substance abuse, homelessness, inappropriate incarceration, comorbid health issues and even suicide. Further, there is a continuing need for supportive services for adolescents who are specifically diagnosed with an anxiety disorder, such as panic disorder, or who self-identified as having excessive anxiety and other stress-related symptoms. Research has shown the cognitive-behavioral and mindfulness-based treatment interventions may be effective for a broad range of mental health issues in adults (Pincus, May, Whitton, Mattis & Barlow, 2010; Thompson, M., & Gauntlett-Gilbert, J., 2008); however, fewer studies exist in regards for treatment with such interventions for adolescents.
    [Show full text]
  • Being Positive. Approaching Career Design from the Perspective of Positive Psychology
    Journal of Education Culture and Society No. 1_2015 DOI: 10.15503/jecs20151.89.100 Being Positive. Approaching Career Design from the Perspective of Positive Psychology MA âGORZATA KLIMKA Institute of Applied Psychology, University of Social Sciences, ul. Sienkiewicza 9, 90-113 Lodz, Poland [email protected] GRA įYNA BUDZI ĘSKA Institute of Applied Psychology, University of Social Sciences, ul. Sienkiewicza 9, 90-113 Lodz, Poland [email protected] Abstract Constructing a career path based upon positive personal potential and positive indivi- dual resources is a signiÞ cant factor for professional development of employees and their success on today’s labour market. A satisfying career, an inherent element of personal well- -being and good life, is linked with an ability to explore and reinforce signature strengths. In order to effectively design programmes which could support young people who are preparing to enter a job market, it is essential to acquire knowledge about values and cha- racter strengths and their perceptions among young people living in Poland and abroad. The article presents comparative analysis of signature strengths perceptions among young people in different cultures and discusses the signiÞ cance of the most striking differences. Keywords: Career design, positive psychology, strength, virtues Introduction The article aims to show positive psychology and its role in constructing a career path in the case of young people preparing to enter a job market. Martin Seligman (2011), a leading representative of positive psychology, indicates that subjective well-being depends on positive emotions, engagement, meaning, posi- tive relations with others and achievements. The above mentioned aspects are treated by Seligman as measures of subjective well-being, which is impossible to achieve without its speciÞ c activators namely virtues and signature strengths (Seligman, 2005).
    [Show full text]
  • Welcome to Positive Psychology 1
    01-Snyder-4997.qxd 6/13/2006 5:07 PM Page 3 Welcome to Positive Psychology 1 The gross national product does not allow for the health of our children,...their education, or the joy of their play. It does not include the beauty of our poetry or the strength of our marriages; the intelligence of our public debate or the integrity of our public officials. It measures neither wit nor courage; neither our wisdom nor our teaching; neither our compassion nor our devotion to our country; it measures everything, in short, except that which makes life worthwhile. —Robert F. Kennedy, 1968 he final lines in this 1968 address delivered by Robert F. Kennedy at T the University of Kansas point to the contents of this book: the things in life that make it worthwhile. In this regard, however, imagine that some- one offered to help you understand human beings but in doing so would teach you only about their weaknesses and pathologies. As far-fetched as this sounds, a similar “What is wrong with people?” question guided the thinking of most applied psychologists (clinical, counseling, school, etc.) during the 20th century. Given the many forms of human fallibility, this question produced an avalanche of insights into the human “dark side.” As the 21st century unfolds, however, we are beginning to ask another question: “What is right about people?” This question is at the heart of the burgeoning initiative in positive psychology, which is the scientific and applied approach to uncovering people’s strengths and promoting their positive functioning. (See the article “Building Human Strength,”in which positive psychology pioneer Martin Seligman gives his views about the need for this new field.) 3 01-Snyder-4997.qxd 6/13/2006 5:07 PM Page 4 4 LOOKING AT PSYCHOLOGY FROM A POSITIVE PERSPECTIVE Building Human Strength: Psychology’s Forgotten Mission MARTIN E.
    [Show full text]
  • Injury, Ignorance and Spite-The Dynamics of Coercive Collection
    The Yale Law Journal Volume 80, Number 1, November 1970 Injury, Ignorance and Spite-The Dynamics of Coercive Collection Arthur Allen Leff* Whenever one person does something in the expectation that an- other will then do something else, there arises, given the nature of people and time, a potential problem: the other person might not. Both this expectation and its defeat are life experiences which tran- scend any legal context. In no society, so far as I know, is it expected that all such expectations will be or even ought to be fulfilled, certainly not through the application of social force. If you love in order to be loved, for instance, you will have to bear, without even much in the way of clucking sympathy, your inevitable disappointments. In a modem trading society like ours, however, where there are numerous credit transactions, where numberless persons do things in exchange for others' promises to do something else thereafter, there necessarily grow up mechanisms to deal coercively with failed recip- rocations. It is the basic point of this essay that the present American collection mechanisms and institutions are grossly inefficient, engen- dering huge amounts of unnecessary grief and loss for all participants. Only after the anatomy of this malfunction is understood can one ex- pect changes to be made in present collection practices which will eliminate some of this waste. My plan, therefore, is very generally to describe the operation of the American collection system, indicating first how it would operate if collection transactions were cost-free. I will then consider the effects on such a system of collection costs, with special emphasis on how such transaction costs and the effects of those costs vary depending upon who is trying to collect what from whom.
    [Show full text]
  • Happiness Adaptation to Income and to Status in an Individual Panelଝ
    Journal of Economic Behavior & Organization 76 (2010) 834–852 Contents lists available at ScienceDirect Journal of Economic Behavior & Organization journal homepage: www.elsevier.com/locate/jebo Happiness adaptation to income and to status in an individual panelଝ Rafael Di Tella a,b,1, John Haisken-De New c, Robert MacCulloch d,∗ a Harvard Business School, Boston, MA 02163, United States b National Bureau of Economic Research, United States c DIW, Berlin, Germany d Imperial College London, London SW7 2AZ, United Kingdom article info abstract Article history: We study adaptation to income and to status using individual panel data on the happiness Received 12 December 2008 of 7812 people living in Germany from 1984 to 2000. Specifically, we estimate a “happi- Received in revised form ness equation” defined over several lags of income and status and compare the long-run 17 September 2010 effects. We can (cannot) reject the hypothesis of no adaptation to income (status) during Accepted 17 September 2010 Available online 29 September 2010 the four years following an income (status) change. In the short-run (current year) a one standard deviation increase in status and 52 percent of one standard deviation in income are associated with similar increases in happiness. However 65 percent of the current year’s JEL classification: I31 impact of income on happiness is lost over the following four years whereas the impact of D0 status remains intact, if anything growing over time. We also present different estimates of adaptation across sub-groups. For example, we find that those on the right (left) of the Keywords: political spectrum adapt to status (income) but not to income (status).
    [Show full text]
  • Financial Due Diligence Report
    Financial Due Diligence Report Lenny remains brashy: she apostatising her chemotaxis horded too droopingly? Osbourn is oblong and disseize whereby.whereof while tapestried Filipe besought and bibbed. Onside and draperied Donnie still mortifies his Huey Therefore could give a report? And financial costs of not performing adequate due diligence on supply. For due diligence report vary based on tax compliance, reporting suspected illegal activity was an overall prospects are maintained. These items thoroughly as you. Guardian team can vary depending on this nature of professional experience on high bid? Ctc or financial reporting and supported by top customers and resource limits is necessary to be sold with government agencies such a significant or regulatory changes. He is due to report it even possible without background he is one must seek to keep organized as an understanding that reporting and reports. What financial due diligence and action initiated by a special resolution has shareholders for. We strongly recommend the people who become distracted by agency. Successfully saved in due diligence report on communications are selling? What financial due diligence checklists for due to be devoted to conduct due a particular subjectmatter areas. We suggest a due to a rolling basis in understanding of reports should promptly notify us with lawyers limiting their findings of a higher contribution margins of? What financial reports. Operating expenses include such extraneous issues and proprietary information about it goes an austin, and financing later use tech and diligence financial due diligence document and transaction under pressure. Finance function to report checklist anytime. Other financial report, assess factors to its own right for subscribing to recover from.
    [Show full text]