Search results for " finance"
showing 10 items of 2924 documents
Variable convexity and peripheral core in an exchange economy
1988
La notion de coopération (ICHIISHI [1981;1982], SCARF [1967;1971;1973], SHAPLEY [1973], SCHLEICHER [1979]), qui passe par la formation d’une coalition, donne naissance à ce que l’on appelle parfois des super-joueurs, c’est-à-dire des groupes de joueurs qui vont finalement se comporter comme des joueurs uniques; autrement dit, la rationalité de ces super-joueurs est identique, dans le principe, à celle d’un agent ésseulé en situation de conflit. Ceci signifie, en fait, que les joueurs sont en mesure d’abdiquer leur pouvoir intrinsèque de décision au profit d’une institution collective provenant d’une coalition à laquelle ils adhèrent. Ce pourquoi, ces êtres intermédiaires sont des entités th…
Die Kundenzufriedenheit als Bestimmungsfaktor der Kundenbindung
1999
This contribution stresses the relationship between customer satisfaction and customer loyalty. Several hypotheses on the relationship in question are stated based on different theoretical appoaches. An empirical study is presented that supports a piecewise linear relationship between satisfaction and loyalty. Finally, implications for marketing practice are discussed.
The role of collective action for the emergence and consolidation of democracy
2020
AbstractThe role of citizens' collective action for the emergence and consolidation of democracy is generally analysed within bottom-up theories. However, top-down theories show that elites might impede or promote both democracy and collective action through a set of strategies which are often unobserved and vary over time. Democratic persistence and change require then to be assessed in a dynamic framework which considers both citizens and elites' strategies. For such reason, on a large sample of countries in the period 1971–2014, we jointly estimate the probability of collective action and democracy using a Structural Dynamic Model. This allows us to account for the dynamic nature of the …
Unawareness, Priors and Posteriors
2008
Abstract. This note contains first thoughts on awareness of unawareness in a simple dynamic context where a decision situation is repeated over time. The main consequence of increasing awareness is that the model the decision maker uses, and the prior which it contains, becomes richer over time. The decision maker is prepared to this change, and we show that if a projection-consistency axiom is satisfied unawareness does not affect the value of her estimate of a payoff-relevant conditional probability (although it may weaken confidence in such estimate). Probability-zero events however pose a challenge to this axiom, and if that fails, even estimate values will be different if the decision …
From creative city to generative governance of the cultural policy system? The case of Barcelona's candidature as UNESCO City of Literature
2017
Abstract Since the 1980s, cultural policies have been increasingly oriented to promoting cities. However, under the paradigm of the creative city, this approach had presented several dilemmas and contradictions. Since then, there have been various attempts to tackle such issues through a more systematic approach to cultural policy — what we identify as cultural governance oriented to cultural generation. Barcelona is a paradigmatic case illustrating this trend. The city's candidature as UNESCO City of Literature in 2015 reveals an attempt to combine international promotion, development of local cultural industries, citizen cultural engagement. Moreover, this project emerges as an attempt to…
Rethinking exchange and prices
2017
Our monetary economies of production are not based upon relative exchanges described by the standard theory. Money is neither a commodity nor a positive asset; it cannot be exchanged against physical goods and services. It follows that payments do not consist of mutual transfers of commodities. In fact, each producer working for the needs for the community produces wealth for himself. Further, transactions on any markets are absolute exchanges. One of the consequences of this is that market prices do not measure wealth; rather, they are coefficients of redistribution of products.
Representations of Woman’s Body in Prose by Latvian Women Writers
2013
Feminism has been deeply concerned with female body either as something to be rejected in the pursuit of intellectual equality or as something to be reclaimed as the very essence of women. Another alternative, associated with feminist postmodernism, seeks to emphasize the importance and inescapability of embodiment rather as a differential and fluid construct than as a fixed given. Different female body representations are inscribed in Latvian women’s prose from 1960s to 2010. As it was common for Soviet literature, also in prose of Latvian women writers of the period body and sexuality, especially the female one, was left beyond the discussion, mostly figuring as the unspoken. If woman’s b…
Was Frank Knight an institutionalist?
2005
This paper critically examines Geoffrey Hodgson's recent provocative claim about Frank Knight as being a member of American institutionalism in the interwar years. In the first section of the paper the authors attempt to provide a definition of institutionalism and to emphasize its meaning from a historiographic point of view. The second and third sections analyze the two main methodological struggles between Knight and the institutionalists, namely, the debate during the early 1020s over the use of instinct theory as an explanation of economic behavior, and the subsequent campaign led by Knight in the late 1920s and early 1930s against the behaviorist wing of American institutionalism à la…
An operatorial approach to stock markets
2009
We propose and discuss some toy models of stock markets using the same operatorial approach adopted in quantum mechanics. Our models are suggested by the discrete nature of the number of shares and of the cash which are exchanged in a real market, and by the existence of conserved quantities, like the total number of shares or some linear combination of cash and shares. The same framework as the one used in the description of a gas of interacting bosons is adopted.
Determinants of Immigration in Europe. The Relevance of Life Expectancy and Environmental Sustainability
2017
This research analyzes the main variables that determine immigration in Europe and includes aspects related to the economy, population, healthcare, and environmental sustainability. The empirical analysis consists of two sets of data: one made up of all EU member states (EU-28) and the other containing countries that form a part of the Eurozone (EU-19), using the Generalized Method of Moments. The sample covers the period between 2000 and 2014, and the data are analyzed separately and comparatively in the most relevant stages during that time (economic prosperity, crisis, and recovery). The most notable results indicate that the variables related to GDP and public debt largely serve to just…