The civilising tension at the heart of market-making: a case study of the stent industry

We are interested in the emergence of new markets. While the literature contains various perspectives on how such new markets come to be, the dynamics of the marketization process are less clear. This paper focuses on the development of stent technology and examines the activities characteristic of its emerging market. We identify four market ‘moments’: a mutable marketing moment prior to the point of disruption; two parallel moments at the point of disruption – internecine marketing between emergent competitors, and subversive marketing between those competitors and established actors; and finally, a civilized marketing moment. We conclude that emergent competitors operate two distinct strategies at the point of disruption. Also, legal activities are central to marketization dynamics during this period. In terms of process, while creative destruction may broadly describe the move from disruption to acceptance, there is a period of creative construction prior to disruption, when the new market is coming into being.

A Mixed Blessing: Market-Mediated Religious Authority in Neopaganism

This research explores how marketplace dynamics affect religious authority in the context of Neopagan religion. Drawing on an interpretivist study of Wiccan practitioners in Italy, we reveal that engagement with the market may cause considerable, ongoing tensions, based on the inherent contradictions that are perceived to exist between spirituality and commercial gain. As a result, market success is a mixed blessing that can increase religious authority and influence, but is just as likely to decrease authority and credibility. Using an extended case study method, we propose a theoretical framework that depicts the links between our informants’ situated experiences and the macro-level factors affecting religious authority as it interacts with market-mediated dynamics at the global level. Overall, our study extends previous work in macromarketing that has looked at religious authority in the marketplace) and how the processes of globalization are affecting religion.

The Dynamics of Male and Female Street Prostitution in Manchester, England

This article examines male street prostitution in Manchester, England, and draws some comparisons to its female counterpart in this city. While the two sectors have some important similarities, we also find significant differences in the physical and social ecology of the places in which they work, in their behavior patterns, and in individuals’ demographics and work experiences. We find that ecological dif- ferences between the male and female markets have a major impact on partici- pants’ work practices, opportunities, and integration into the local community. The data also indicate that it is incorrect to speak of a monolithic male street market or sector in Manchester because sellers shift between settings (street, bar, and escorting), unlike the female street sector. We also find that the males demonstrate more diversity in their repertoires for earning money. The findings have implications for local government policy and for outreach workers who work with these populations.

The Democratic Dynamics of Government Consultations. Speaking Freely and Listening Properly

There is a growing use of consultation and e-consultation procedures by governments. This chapter seeks to examine the role of consultation as part of a new technology of government. Consultation on policy development can reinvigorate democratic engage- ment but often it can silence views through a sort of participatory disempowerment; it can loosen the democratic anchorage of the public service within the state. The chapter develops a governmentality perspective interrogating what participation, democratic engagement and free speech mean in this context, and how ideas of publicness are constructed, managed and controlled. The focus is on the nature of consultation, its relationship to ideas of free speech and speaking freely, and its potential to empower subaltern counterpublics which can formulate oppositional interpretations and urge alternative conclusions. The aim is to develop an idea of the democratic adequacy of the consultation process and draw out a sense of how democratic engagement here can be structured – for good or ill.

Price transmission dynamics between ADRs and their underlying foreign security: The case of Banco de Colombia S.A.- Bancolombia.

This paper analyzes the dynamics ofthe American Depositary Receipt (ADR) of a Colombian bank (Bancolombia) in relation to its pricing factors (underlying (preferred) shares price, exchange rate and the US market index). The aim is to test if there is a long-term relation among these variables that would imply predictability. One cointegrating relation is found allowing the use of a vector error correction model to examine the transmission of shocks to the underlying prices, the exchange rate, and the US market index. The main finding of this paper is that in the short run, the underlying share price seems to adjust after changes in the ADR price, pointing to the fact that the NYSE (trading market for the ADR) leads the Colombian market. However, in the long run, both, the underlying share price and the ADR price, adjust to changes in one another.

In Search of Social Justice: Current Developments in Higher Education and the Labour Market in Bulgaria

The discussions about social justice date from ancient times, but despite the enduring interest in the topic and the progress made, we are still witnessing injustices throughout the world. Thus, the search for social justice, under some form, is an inseparable part of our lives. In general, social justice may be considered as a critical idea that challenges us to reform our institutions and practices in the name of greater fairness (Miller 1999, p. x). In political and policy debates, social justice is often related to fair access (Brown, 2013) but at the same time its meanings seem to vary when we consider different definitions, perspectives and social theories (Zajda, Majhanovich, & Rust, 2006). When seen in the context of higher education, social justice appears in relevant literature as a buzzword (Patton, Shahjahan, Riyad, & Osei-Kofi, 2010). Within the recent studies of higher education and public debates related to the development of higher education, more emphasis is placed on the link between higher education and the economic growth and how higher education could be more responsive to the labour market demands, and little emphasis has been put on social justice. Given this, the present study attempts to at least partially fill the gap with regard to this apparently very topical issue, especially in the context of the unprecedented worldwide expansion of higher education in the last century (Schofer & Meyer, 2005), an expansion that is expected to continue in the next decades. More specifically, the expansion of higher education intensified in the second part of the 20th century, especially after World War II. It was seen as a result of the intertwined dynamics related to demographic, economic and political pressures (Goastellec, 2008a). This trend undoubtedly contributed to the increase of the size of the student body. To illustrate this trend, we may point out that in the period between 2000 and 2007, the number of tertiary students in the world increased from 98,303,539 to 150,656,459 (UNESCO, 2009, p. 205). This growth occurred in all regions of the world, including Central and Eastern Europe, North America and Western Europe, and contributed to raising the number of tertiary graduates. Thus, in the period between 2000 and 2008, the total number of tertiary graduates in the European Union (EU) 27 increased by a total of 35 percent (or 4.5 percent per year). However, this growth was very uneven, ranging from 21.1 percent in Romania to 0.7 percent in Hungary (European Commission working staff document, 2011). The increase of the number of students and graduates was seen as enhancing the social justice in higher education, since it is assumed that expansion “extends a valued good to a broader spectrum of the population” (Arum, Gamoran, & Shavit, 2007, p. 29). However, concerns for a deep contradiction for 21st-century higher education also emerged with regard to its expansion.

Urban dynamics evaluation of Envigado city

This article presents the methodological conceptualization and the main results of a System Dynamics model, which main objective is to support the housing policies in the city of Envigado -- The used methodology developed a scenario-based model to emulate the approximate evolution of the housing demand and supply for the city, using a scenario of the Gross Domestic Product (GDP) and a housing authorization strategy as input -- Diverse results were obtained, for instance it was found that due to the soil availability, the housing supply reaches the saturation point between 2040 and 2046 -- Finally this article could be considered as an example of how academic tools such as System Dynamics can be used by decisions makers in the government

Exchange rate dynamics, structural breaks, and central bank interventions in Colombia

We evaluate the effectiveness of the Colombian Central Bank´s interventions in the foreign exchange market during the period 2000 to 2014 -- We examine the stochastic process that describes the exchange rate, with a focus on the detection of structural breaks or unit roots in the data to determine whether the Central Bank´s interventions were effective -- We find that the exchange rate can be described either by a random walk or by a trend-stationary model with multiple breaks -- In neither cases do we find any evidence that the exchange rate was affected by the Central Bank interventions

Tribes under threat : the collective behavior of firms during the stock market crisis

Due to their unpredictable behavior, stock markets are examples of complex systems. Yet, the dominant analysis of these markets as- sumes simple stochastic variations, eventually tainted by short-lived memory. This paper proposes an alternative strategy, based on a stochastic geometry defining a robust index of the structural dynamics of the markets and based on notions of topology defining a new coef- ficient that identifies the structural changes occurring on the S&P500 set of stocks. The results demonstrate the consistency of the random hypothesis as applied to normal periods but they also show its in- adequacy as to the analysis of periods of turbulence, for which the emergence of collective behavior of sectoral clusters of firms is mea- sured. This behavior is identified as a meta-routine.

Three Essays on Market Depth in Futures Markets

Liquidity is an important market characteristic for participants in every financial market. One of the three components of liquidity is market depth. Prior literature lacks a comprehensive analysis of depth in U.S. futures markets due to past limitations on the availability of data. However, recent innovations in data collection and dissemination provide new opportunities to investigate the depth dimension of liquidity. In this dissertation, the Chicago Mercantile Exchange (CME) Group proprietary database on depth is employed to study the dynamics of depth in the U.S. futures markets. This database allows for the analysis of depth along the entire limit order book rather than just at the first level. The first essay examines the characteristics of depth within the context of the five-deep limit order book. Results show that a large amount of depth is present in the book beyond the best level. Furthermore, the findings show that the characteristics of five-deep depth between day and night trading vary and that depth is unequal across levels within the limit order book. The second essay examines the link between the five-deep market depth and the bid-ask spread. The results suggest an inverse relation between the spread and the depth after adjusting for control factors. The third essay explores transitory volatility in relation to depth in the limit order book. Evidence supports the relation between an increase in volatility and a subsequent decrease in market depth. Overall, the results of this dissertation are consistent with limit order traders actively managing depth along the limit order book in electronic U.S. futures markets.

Numerical simulation of fresh SCC flow in wall and beam elements using flow dynamics models

Abstract : Recently, there is a great interest to study the flow characteristics of suspensions in different environmental and industrial applications, such as snow avalanches, debris flows, hydrotransport systems, and material casting processes. Regarding rheological aspects, the majority of these suspensions, such as fresh concrete, behave mostly as non-Newtonian fluids. Concrete is the most widely used construction material in the world. Due to the limitations that exist in terms of workability and formwork filling abilities of normal concrete, a new class of concrete that is able to flow under its own weight, especially through narrow gaps in the congested areas of the formwork was developed. Accordingly, self-consolidating concrete (SCC) is a novel construction material that is gaining market acceptance in various applications. Higher fluidity characteristics of SCC enable it to be used in a number of special applications, such as densely reinforced sections. However, higher flowability of SCC makes it more sensitive to segregation of coarse particles during flow (i.e., dynamic segregation) and thereafter at rest (i.e., static segregation). Dynamic segregation can increase when SCC flows over a long distance or in the presence of obstacles. Therefore, there is always a need to establish a trade-off between the flowability, passing ability, and stability properties of SCC suspensions. This should be taken into consideration to design the casting process and the mixture proportioning of SCC. This is called “workability design” of SCC. An efficient and non-expensive workability design approach consists of the prediction and optimization of the workability of the concrete mixtures for the selected construction processes, such as transportation, pumping, casting, compaction, and finishing. Indeed, the mixture proportioning of SCC should ensure the construction quality demands, such as demanded levels of flowability, passing ability, filling ability, and stability (dynamic and static). This is necessary to develop some theoretical tools to assess under what conditions the construction quality demands are satisfied. Accordingly, this thesis is dedicated to carry out analytical and numerical simulations to predict flow performance of SCC under different casting processes, such as pumping and tremie applications, or casting using buckets. The L-Box and T-Box set-ups can evaluate flow performance properties of SCC (e.g., flowability, passing ability, filling ability, shear-induced and gravitational dynamic segregation) in casting process of wall and beam elements. The specific objective of the study consists of relating numerical results of flow simulation of SCC in L-Box and T-Box test set-ups, reported in this thesis, to the flow performance properties of SCC during casting. Accordingly, the SCC is modeled as a heterogeneous material. Furthermore, an analytical model is proposed to predict flow performance of SCC in L-Box set-up using the Dam Break Theory. On the other hand, results of the numerical simulation of SCC casting in a reinforced beam are verified by experimental free surface profiles. The results of numerical simulations of SCC casting (modeled as a single homogeneous fluid), are used to determine the critical zones corresponding to the higher risks of segregation and blocking. The effects of rheological parameters, density, particle contents, distribution of reinforcing bars, and particle-bar interactions on flow performance of SCC are evaluated using CFD simulations of SCC flow in L-Box and T-box test set-ups (modeled as a heterogeneous material). Two new approaches are proposed to classify the SCC mixtures based on filling ability and performability properties, as a contribution of flowability, passing ability, and dynamic stability of SCC.

Purity of Blood and the Curial Market in Iberian Cathedrals

This article analyses the dynamics of accessing cathedral chapters with purity of blood statutes in the Iberian Peninsula, from a comparative perspective, and the interaction with the phenomenon of commodification of ecclesiastical benefices. This phenomenon created a Curial market that was open to any applicant with sufficient economic capacity, regardless of their ancestry. What was the result of the clash between the Iberian concept of purity and the commodified Roman reality?

Mechanical Properties And Fracture Dynamics Of Silicene Membranes.

As graphene has become one of the most important materials, there is renewed interest in other similar structures. One example is silicene, the silicon analogue of graphene. It shares some of the remarkable graphene properties, such as the Dirac cone, but presents some distinct ones, such as a pronounced structural buckling. We have investigated, through density functional based tight-binding (DFTB), as well as reactive molecular dynamics (using ReaxFF), the mechanical properties of suspended single-layer silicene. We calculated the elastic constants, analyzed the fracture patterns and edge reconstructions. We also addressed the stress distributions, unbuckling mechanisms and the fracture dependence on the temperature. We analysed the differences due to distinct edge morphologies, namely zigzag and armchair.

Site Specific Spin Dynamics In Bafe2as2: Tuning The Ground State By Orbital Differentiation.

The role of orbital differentiation on the emergence of superconductivity in the Fe-based superconductors remains an open question to the scientific community. In this investigation, we employ a suitable microscopic spin probe technique, namely Electron Spin Resonance (ESR), to investigate this issue on selected chemically substituted BaFe2As2 single crystals. As the spin-density wave (SDW) phase is suppressed, we observe a clear increase of the Fe 3d bands anisotropy along with their localization at the FeAs plane. Such an increase of the planar orbital content is interestingly independent of the chemical substitution responsible for suppressing the SDW phase. As a consequence, the magnetic fluctuations in combination with this particular symmetry of the Fe 3d bands are propitious ingredients for the emergence of superconductivity in this class of materials.

[between The Country And The Laboratory: The Dynamics Of The Production Of Knowledge At The Menopause Outpatients Clinic At Caism, Unicamp.]

This study investigates the practices involved in the production of knowledge about menopause at Caism, Unicamp, a reference center for public policies for women's health. Gynecological appointments and psychological support meetings were observed, and women and doctors were interviewed in order to identify what discourse circulates there and how different actors are brought in to ensure that the knowledge produced attains credibility and travels beyond the boundaries of the teaching hospital to become universal. The analysis is based on localized studies aligned with social studies of science and technology.