Centives

In a recent study done by researchers at the University of Houston, claims about the positive effects of school uniforms were put to the test. In their findings, researchers were able to determine that school uniforms did not help students perform better in the classroom, but attendance did increase among students and the retention rate for teachers at schools that adopted uniforms also increased. Therefore, it seems that requiring uniforms to be worn by students may have some positive effects, but increased test scores and grades are not among them.

Source: Freakonomics Blog

We’ve previously covered the economics of the lottery. It appears that in times of high unemployment, people begin to play the lottery more. 28 of the 41 states that recently reported lottery sales reported an increase in their sales this past year over the year before. 17 of those states set records for their sales. During this time of high unemployment, many are looking for work that will provide them with a steady paycheck, but until they’re able to find such a job, it seems that the hope of winning the lottery is just too much to pass up.

Source: Economix Blog

We’ve previously covered how personality traits such as narcissism can be used to evaluate the effectiveness of a leader. Can a CEO’s facial shape also help us predict the success of a company? Yes, according to a research article that will appear Psychological Science. Some key points of the research include:

• Male CEOs with wider faces led their businesses to greater success.
• Wider faces tend to correlate with more aggression in men, and a greater incidence of unethical behaviour.
• The relationship between facial width and aggression is not seen in women.

To read more about the details of the study as well as a complication found in the analysis, click here.

Source: Mother Nature Network

The BBC reported on India’s Tihar Prison – a place where thousands of inmates are employed in seven factories around the prison complex. Some of the more interesting aspects of the jail include:

• The bakery sells its products to the world under the brand name “TJ”
• Other factories produce clothes, furniture, and recycled paper. “Made in Tihar” products brought in 150 million in 2010. Products are sold through retail stores and the prison’s website. The money is used to fund the prison.
• Only serious offenders are allowed to work in the factories. A typical worker works eight hours a day, six days a week, and can make up to 55 per week. Their families can access the money.
• The prison plans to produce a classical album to showcase the talents of the inmates.

Read what the inmates think about the program as well as the prison’s plan for nationwide expansion over here.

Source: BBC News

In “Billionaire” Travie McCoy and Bruno Mars sing about their burning desire to become billionaires. As it turns out, they’re working in the wrong field and should switch jobs if they want their dream to become a reality. Forbes recently compiled a list of the five wealthiest hip hop artists. Number one is Sean “Diddy” Combs who somehow manages to scrape by with a little less than half a billion dollars. At the very bottom of the list is the disingenuously named “50 Cent”. With a $100 million that man has enough 50 cent coins for the entire population of Brazil. The others on the list include:

• Jay-Z ($450 Million)
• Dr. Dre ($125 Million)
• Birdman ($100 Million)

Read more about Forbes’ methodology, as well as why they decided to limit the list to 5 rappers over here.

Source: Forbes

Michael Bristow, a correspondent for BBC news recently wrote about the changing face of Macau amidst a casino driven boom in one of China’s most interesting regions.

• It has been legal to gamble in Macau for over 150 years, but the government has only recently realized this potential and is now expected to make five times more than Las Vegas this year.
• Increasing the number of casino licenses from one to six is what caused the initial burst in casino investment in the region. It remains the only place in China where it is legal to gamble.
• Bets of hundreds of thousands of dollars on single hands are not uncommon. Gaming revenue accounts for around half of the income in this region. Casino’s employ 20% of the workforce.

Read more about conference halls the size of football fields, why the honeymoon period may be over and the social costs of the gambling establishments over here.

Source: BBC News

Warren Buffett recently said that the U.S. government should raise the taxes of the wealthiest Americans. Obviously, Warren Buffett is one of the more famous members of this group as he often appears near the top of world’s richest people lists. One may expect that the reaction by others to this remark would be positive as he is offering to give up more of his own money. However, the reaction by many members of the media has been to criticize him. This response seems curious as it appears that Warren Buffett is acting unselfishly. So what do you think of Warren Buffett’s suggestion? Is he acting unselfishly or is there some hidden motive?

Source: Freakonomics Blog

The American Kennel Club is claiming that the recession has caused a dognapping wave in the U.S. They have reported 224 stolen pets so far as opposed to 150 at the same time last year. However, it would seem that a recession would give people a reason not to own a dog rather than to steal one. Dogs can cost money to care for, something more difficult to find in a recession. In addition, it can also be very low-cost or even free to adopt or buy a new pet, which raises the question of why someone would risk stealing a dog rather than legally obtaining one. Therefore, you have to question how these statistics are found because they seem to go against economic theory, but nonetheless it makes for an interesting story.

Source: Slate

Allison Linn at Life Inc recently looked at how devastating a hurricane is compared to other forms of natural disasters. She concludes that “Americans should be bracing…a costly clean-up bill.” Some of the more interesting points from her analysis include:

• Hurricanes are the most expensive type of disaster. Over the past twenty years, natural disasters have seen insurance companies pay out $349.3 billion. About half of that ($153.7 billion) consists of claims directly relating to hurricanes.
• Tornadoes come second.
• Hurricanes cause so much damage because they affect such a wide area.

Source: Life Inc.