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Putting the Barn Before the Housefeatures the voices and viewpoints of women born before World War I who lived on family farms in south-central New York. As she did in her previous book,Bonds of Community, for an earlier period in history, Grey Osterud explores the flexible and varied ways that families shared labor and highlights the strategies of mutuality that women adopted to ensure they had a say in family decision making. Sharing and exchanging work also linked neighboring households and knit the community together. Indeed, the culture of cooperation that women espoused laid the basis for the formation of cooperatives that enabled these dairy farmers to contest the power of agribusiness and obtain better returns for their labor. Osterud recounts this story through the words of the women and men who lived it and carefully explores their views about gender, labor, and power, which offered an alternative to the ideas that prevailed in American society. Most women saw \"putting the barn before the house\"-investing capital and labor in productive operations rather than spending money on consumer goods or devoting time to mere housework-as a necessary and rational course for families who were determined to make a living on the land and, if possible, to pass on viable farms to the next generation. Some women preferred working outdoors to what seemed to them the thankless tasks of urban housewives, while others worked off the farm to support the family. Husbands and wives, as well as parents and children, debated what was best and negotiated over how to allocate their limited labor and capital and plan for an uncertain future. Osterud tells the story of an agricultural community in transition amid an industrializing age with care and skill.

Performance measurement is all about a fund's historical return, its variability, and its sensitivity to external measures. Evaluating individual funds usually starts with an analysis of a fund's historical data and its current exposure or sensitivity to market risk factors. Investors need to evaluate both the performance and risks of any fund and then form an opinion about return expectations and the anticipated correlation of fund results with their existing portfolio. Allocating capital based on recent performance may lead to herding and less than stellar results, as investors all pile into the latest winners, who then fail to meet expectations. Once a complete review of the empirical characteristics of a fund has taken place and a list of choices created from the data, investors can then start the more labor‐intensive and high‐quality process of evaluating the manager, the fund's service provider, references, pedigree, and a host of variables designed to assess the particular opportunity.

The hedge fund industry is changing rapidly in response to many influences and demands. Markets are more uncertain, and it is harder for managers to get an edge that is sustainable. It also provides a refuge for those daring and creative young men and women who want to manage money outside the traditional limitations and constraints. Traditional managers lack incentives and discretion to generate absolute returns and often struggle to generate a return equal to their benchmark. High‐quality absolute returns, superior risk‐adjusted returns, or returns that meet or exceed expectations often come at a premium price. It was designed to inform the reader about the process of allocating capital to hedge funds, the techniques used by hedge funds to manage investors' assets, and a process investors can use to evaluate managers, funds, and service providers that potentially fit within their investment objectives.

We show that grandfathering fishing rights to local users or recognizing first possessions is more dynamically efficient than auctions of such rights. It is often argued that auctions allocate rights to the highest-valued users and thereby maximize resource rents. We counter that rents are not fixed in situ but rather depend additionally upon the innovation, investment, and collective actions of fishers, who discover and enhance stocks and convert them into valuable goods and services. Our analysis shows how grandfathering increases rents by raising expected rates of return for investment, lowering the cost of capital, and providing incentives for collective action.

This chapter contains all entries for L: labeling to love and commitment