Murder, Extramarital Affairs, and the Issue of Probative Value

A paper previously published in Law and Human Behavior by D. Davis and W. C. Follette (2002) argued that certain "profiling" characteristics commonly admitted into court have little or no probative value. They argued that this is especially likely to be true when the characteristic used as evidence (e.g., having an extramarital affair) is rather common in the population whereas the act in question (e.g., a man murdering his wife) is rare. Their analysis has prompted a strong response by Friedman and Park and by Kaye and Koehler with a rejoinder by Davis and Follette (all three follow this paper in this issue of Law and Human Behavior). This paper describes some of the nature of this controversy.     

Polydrug fatality involving metaxalone

A 29-year old female with a history of depression was found dead in a hotel room. The death scene investigation found empty pill bottles and an empty liter bottle of wine. Metaxalone, a centrally acting muscle relaxant, along with citalopram, ethanol, and chlorpheniramine were identified in the postmortem samples and quantitated by gas chromatography-mass spectrometry. The concentration of metaxalone in femoral vein blood was 39 mg/L. The heart blood concentration was 54 mg/L. Femoral vein blood concentrations of citalopram and chlorpheniramine were 0.77 mg/L and 0.04 mg/L, respectively. Ethanol levels were 0.13 g/dL in vitreous and 0.08 g/dL in heart blood. Other tissue samples were also analyzed. The authors consider the metaxalone concentrations toxic and potentially fatal. The citalopram concentrations were lower than those reported in fatal cases for this drug alone. Death was ascribed to polydrug abuse/overdose with metaxalone a major contributor. This represents the first reported case to our knowledge in which a metaxalone overdose significantly contributed to death.     

Logistic Regression in Rare Events Data

We study rare events data, binary dependent variables with dozensto thousands of times fewer ones (events, such as wars, vetoes,cases of political activism, or epidemiological infections)than zeros ("nonevents"). In many literatures, these variableshave proven difficult to explain and predict, a problem thatseems to have at least two sources. First, popular statisticalprocedures, such as logistic regression, can sharply underestimatethe probability of rare events. We recommend corrections thatoutperform existing methods and change the estimates of absoluteand relative risks by as much as some estimated effects reportedin the literature. Second, commonly used data collection strategiesare grossly inefficient for rare events data. The fear of collectingdata with too few events has led to data collections with hugenumbers of observations but relatively few, and poorly measured,explanatory variables, such as in international conflict datawith more than a quarter-million dyads, only a few of whichare at war. As it turns out, more efficient sampling designsexist for making valid inferences, such as sampling all availableevents (e.g., wars) and a tiny fraction of nonevents (peace).This enables scholars to save as much as 99% of their (nonfixed)data collection costs or to collect much more meaningful explanatoryvariables. We provide methods that link these two results, enablingboth types of corrections to work simultaneously, and softwarethat implements the methods developed.     

Underwriters' counsel as gatekeeper or turnstile: an empirical analysis of law firm prestige and performance in IPOs

The first 150 words of the full text of this article appear below. Key points

• The article investigates the relationship betweenpricing in an initial public offering (IPO) and the prestigeof the participating underwriters’ law firm.
• The hypothesisof the article is that law firm quality affects how law firmsperform their obligations in IPOs—more prestigious lawfirms acting more independently. Consistent with this hypothesis,the authors find a negative relationship between pre-IPO priceadjustment and the participation of prestigious underwriters’counsel, and a negative relationship between the participationof prestigious underwriters’ counsel and initial return,which is consistent with market trading reflecting the decreasedrisk associated with offerings involving prestigious underwriters’counsel.
• Finally, it is found that certain observable characteristicsindicating diminished likelihood of undisclosed negative information(venture backing and quality of the issuer's counsel) are associatedwith an increased likelihood that prestigious underwriters’counsel is used.