Expectation versus provision in the management and use of urban open space

This paper discusses the implications of the shifting cultural significance of public open space in urban areas. In particular, it focuses on the increasing dysfunction between people's expectations of that space and its actual provision and management. In doing so, the paper applies Lefebvre's ideas of spatiality to the evident paradigm shift from 'public' to 'private' culture, with its associated commodification of previously public space. While developing the construct of paradigm shift, the paper recognises that the former political notions inherent in the provision of public space remain in evidence. So whereas public parks were formerly seen as spaces of confrontation between the 'rationality' of public order as the 'irrationality' of individual leisure pursuits, they are now increasingly seen, particularly 'out of hours', as the domain of the dispossessed, to be defined and policed as 'dangerous'. Where once people were welcomed into public open spaces as a means of 'educating' them in good, acceptable, leisure practices, therefore, they are now increasingly excluded, but for the same ostensible reasons. Building on survey work undertaken in Reading, Berkshire, the paper illustrates how communities can become separated from 'their' space, leaving them with the overriding impression that they have been 'short-changed' in terms of both the provision and the management of urban open space. Rather than the intimacy of local space for local people, therefore, the paper argues that parks have become externalised places, increasingly responding to commercial definitions of culture and what is 'public'. Central urban open spaces are therefore increasingly becoming sites of stratification, signification of a consumer-constructed citizenship and valorisation of public life as a legitimate element of the market surface of town and city centres.

Bias or rationality? The case of UK commercial real estate investment

Purpose – The purpose of this paper is to test the hypothesis that investment decision making in the UK direct property market does not conform to the assumption of economic rationality underpinning portfolio theory. Design/methodology/approach – The developing behavioural real estate paradigm is used to challenge the idea that investor “man” is able to perform with economic rationality, specifically with reference to the analysis of the spatial dispersion of the entire UK “investible stock” and “investible locations” against observed spatial patterns of institutional investment. Location quotients are derived, combining different data sets. Findings – Considerably greater variation in institutional property holdings is found across the UK than would be expected given the economic and stock characteristics of local areas. This appears to provide evidence of irrationality (in the strict traditional economic sense) in the behaviour of institutional investors, with possible herding underpinning levels of investment that cannot be explained otherwise. Research limitations/implications – Over time a lack of distinction has developed between the cause and effect of comparatively low levels of development and institutional property investment across the regions. A critical examination of decision making and behaviour in practice could break this cycle, and could in turn promote regional economic growth. Originality/value – The entire “population” of observations is used to demonstrate the relationships between economic theory and investor performance exploring, for the first time, stock and local area characteristics.

Reação de mercado associada à disponibilidade de informação

O racional teórico das finanças comportamentais se sustenta em dois grandes pilares: limites de arbitragem e irracionalidade dos investidores. Dentre os desvios de racionalidade conhecidos, um foi de particular interesse para este estudo: o viés da disponibilidade. Este viés acontece nas situações em que as pessoas estimam a frequência de uma classe ou a probabilidade de um evento pela facilidade com que instâncias ou ocorrências podem ser lembradas. O advento da internet permitiu a verificação do viés de disponibilidade em larga escala por meio da análise dos dados de buscas realizadas. I.e., se uma determinada ação é mais procurada que outras, podemos inferir que ela está mais disponível na memória coletiva dos investidores. Por outro lado, a literatura das finanças comportamentais tem um braço mais pragmático, que estuda estratégias capazes de fornecer retornos anormais, acima do esperado pela hipótese do mercado eficiente. Para os fins deste estudo, destaca-se o efeito momento, no qual o grupo de ações de melhor resultado nos últimos J meses tende a fornecer melhores resultados pelos próximos K meses. O propósito deste estudo foi verificar a possibilidade de se obter retornos acima dos identificados pelo efeito momento segmentando-se as carteiras de maior e menor viés de disponibilidade. Os resultados obtidos foram positivos e estatisticamente significativos na amostra selecionada. A estratégia cruzada entre efeito momento e disponibilidade produziu, para J=6 e K=6, retornos médios mensais de 2,82% com estatística t de 3,14. Já a estratégia só de efeito momento, para o mesmo período de formação e prazo de manutenção, gerou retornos médios mensais de apenas 1,40% com estatística t de 1,22.

Social media crises in the organization: exploring management strategies through cases from France and Brazil

The aim of this Master’s thesis has been to shed light on the response strategies that organizations are implementing when facing a crisis created on or amplified by social media. Since the development of social media in the late 1990s, the interplay between the online and the offline spheres has become more complex, and characterized by dynamics of a new magnitude, as exemplified by the wave of “Twitter” Revolutions or the Wikileaks scandal in the mid 2000s, where online behaviors deeply affected an offline reality. The corporate world does not escape to this worldwide phenomenon, and there are more and more examples of organizational reputations destroyed by social media “fireballs”. As such, this research aims to investigate, through the analysis of six recent cases of corporate crises (2013-2015) from France and Brazil, different strategies currently in use in order to identify examples of good and bad practices for companies to adopt or avoid when facing a social media crisis. The first part of this research is dedicated to a review of the literature on crisis management and social media. From that review, we were able to design a matrix model, the Social Media Crisis Management Matrix, with which we analyzed the response strategies of the six companies we selected. This model allows the conceptualization of social media crises in a multidimensional matrix built to allow the choice, according to four parameters, of the most efficient (that is: which will limit the reputational damage) response strategy. Attribution of responsibility for the crisis to the company by stakeholders, the origin of the crisis (internal or external), the degree of reputational threat, and the emotions conveyed online by stakeholders help companies determining whether to adopt a defensive response, or an accommodative response. The results of the analysis suggest that social media crises are rather manichean objects for they are, unlike their traditional offline counterparts, characterized by emotional involvement and irrationality, and cannot be dealt with traditionally. Thus analyzing the emotions of stakeholders proved to be, in these cases, an accurate thermometer of the seriousness of the crisis, and as such, a better rudder to follow when selecting a response strategy. Consequently, in the cases, companies minimized their reputational damage when responding to their stakeholders in an accommodative way, regardless of the “objective” situation, which might be a change of paradigm in crisis management.

Análise da sobre-reação e sub-reação nos ativos de primeira e segunda lina do mercado acionário brasileiro

The Behavioral Finance develop as it is perceived anomalies in these markets efficient. This fields of study can be grouped into three major groups: heuristic bias, tying the shape and inefficient markets. The present study focuses on issues concerning the heuristics of representativeness and anchoring. This study aimed to identify the then under-reaction and over-reaction, as well as the existence of symmetry in the active first and second line of the Brazilian stock market. For this, it will be use the Fuzzy Logic and the indicators that classify groups studied from the Discriminant Analysis. The highest present, indicator in the period studied, was the Liabilities / Equity, demonstrating the importance of the moment to discriminate the assets to be considered "winners" and "losers." Note that in the MLCX biases over-reaction is concentrated in the period of financial crisis, and in the remaining periods of statistically significant biases, are obtained by sub-reactions. The latter would be in times of moderate levels of uncertainty. In the Small Caps the behavioral responses in 2005 and 2007 occur in reverse to those observed in the Mid-Large Cap. Now in times of crisis would have a marked conservatism while near the end of trading on the Bovespa speaker, accompanied by an increase of negotiations, there is an overreaction by investors. The other heuristics in SMLL occurred at the end of the period studied, this being a under-reaction and the other a over-reaction and the second occurring in a period of financial-economic more positive than the first. As regards the under / over-reactivity in both types, there is detected a predominance of either, which probably be different in the context in MLCX without crisis. For the period in which such phenomena occur in a statistically significant to note that, in most cases, such phenomena occur during the periods for MLCX while in SMLL not only biases are less present as there is no concentration of these at any time . Given the above, it is believed that while detecting the presence of bias behavior at certain times, these do not tend to appear to a specific type or heuristics and while there were some indications of a seasonal pattern in Mid- Large Caps, the same behavior does not seem to be repeated in Small Caps. The tests would then suggest that momentary failures in the Efficient Market Hypothesis when tested in semistrong form as stated by Behavioral Finance. This result confirms the theory by stating that not only rationality, but also human irrationality, is limited because it would act rationally in many circumstances

A irracionalidade e transcendência do número π

Pós-graduação em Matemática em Rede Nacional - IBILCE

A irracionalidade e transcendência do número e

Pós-graduação em Matemática em Rede Nacional - IBILCE

Contabilizando os custos do trabalho escravo em empresas e fazendas

Os estudiosos da escravidão contemporânea identificam nessas formas de imobilização da força de trabalho mecanismos próprios de recrutamento e seleção de trabalhadores e estratégias particulares de revigoramento frente às disposições de ordem pública. Diferentemente do que é dito correntemente, a escravidão observada no mundo contemporâneo nem sempre está relacionada com o fazendeiro de mentalidade arcaica, mas geralmente é um processo conduzido pelas grandes empresas capitalistas, empreendimento privado que teve apoio direto ou indireto do Estado. No Brasil, segundo Martins (1995), o revigoramento da escravidão por dívida se deu com a expansão capitalista na região amazônica durante o regime militar, pautada na dívida como elemento que produz e reproduz o cativeiro do trabalhador (peão) envolvido nessas relações. Existiria, portanto, uma racionalidade na prática de trabalho escravo, decorrente da busca incessante de meios para reduzir custos e ganhar competitividade no mercado, cada vez mais moderno e globalizado. Por outro lado, existe também uma irracionalidade que cria empecilhos para sua expansão pela não mercantilização de todos os fatores envolvidos, inclusive a força de trabalho. O presente estudo analisou casos de escravidão por dívida no Estado do Pará, onde a conjugação de diversos fatores possibilita a reprodução dessa forma de relação de trabalho, inclusive diferenciando-a de outras regiões do Brasil. Considerando que os contextos são específicos, buscamos fazer uma análise do processo histórico, para entender se a raiz dessa dinâmica está na formação econômica e social do Brasil e da Amazônia, assim como buscamos entender qual a racionalidade econômica está por trás da prática do trabalho escravo e qual sua relação com o processo global de reprodução do capital.

Confidence and the Stock Market: An Agent-Based Approach

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

As revoltas dos trabalhadores em Jirau (RO): degradação do trabalho represada na produção de energia elétrica na Amazônia

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Número Irracionais e transcendentes

Pós-graduação em Matemática - IBILCE

Risk Judgment in Obsessive-Compulsive Disorder: Testing a Dual-Systems Account

Dual-systems theorists posit distinct modes of reasoning. The intuition system reasons automatically and its processes are unavailable to conscious introspection. The deliberation system reasons effortfully while its processes recruit working memory. The current paper extends the application of such theories to the study of Obsessive-Compulsive Disorder (OCD). Patients with OCD often retain insight into their irrationality, implying dissociable systems of thought: intuition produces obsessions and fears that deliberation observes and attempts (vainly) to inhibit. To test the notion that dual-systems theory can adequately describe OCD, we obtained speeded and unspeeded risk judgments from OCD patients and non-anxious controls in order to quantify the differential effects of intuitive and deliberative reasoning. As predicted, patients deemed negative events to be more likely than controls. Patients also took more time in producing judgments than controls. Furthermore, when forced to respond quickly patients' judgments were more affected than controls'. Although patients did attenuate judgments when given additional time, their estimates never reached the levels of controls'. We infer from these data that patients have genuine difficulty inhibiting their intuitive cognitive system. Our dual-systems perspective is compatible with current theories of the disorder. Similar behavioral tests may prove helpful in better understanding related anxiety disorders. (C) 2013 Elsevier Ltd. All rights reserved.

Ritualdiskurs, Ritualkritik und religiöse Praxis: Das Beispiel von Vipassanā nach S. N. Goenka im 'Westen'

By analysing primary sources, I show in this paper how the Vipassanā meditation movement publicly objects to being categorized as a religious movement that teaches a certain form of ritual. I argue that the application of the meta-language terms “ritual” or “religion” to the practices taught by this movement, even though it is doubtlessly possible, does not help us solve the problems in explaining this fact; nor does it help in analysing the movement and its history. I argue that it is more appropriate to understand the polemic differentiation by Vipassanā as a strategy in a “modern” public discourse on religion and ritual. It seems that the reason for applying this strategy lies in the wish to avoid being identified with negative connotations of the terms “ritual” and “religion,” such as inefficacy, irrationality and exaggerated rigidity. Instead, the protagonists stress rationality, efficacy and adaptation to the necessities of modern Western society. On the other hand, the movement also draws a line between itself and a so-called modern “esotericism” in which “rituals” are regarded as highly positive in their effects on humans.

Indicating Commitment: The Notion of dépense in the Study of Ritual and Religion

By analysing two cases from the recent history of Vaishnavism (a temple festival in Vrindavan; the development of the International Society for Krishna Consciousness, or ISKCON), this paper shows that the notion of dépenseas developed by Marcel Mauss, Robert Hertz and Georges Bataille can be applied as an analytical tool in the study of rituals and religion as an indicator of religious commitment. At the same time it is possible to show that, by constructing a kind of macro-economic theory that includes religious behaviour, recent theories of religious economics are part of, and reproduce, a modern discourse of rationality that rules out, rather than understands, forms of irrationality such as unproductive expenditure (dépense).

Brain systems underlying encounter expectancy bias in spider phobia.

Spider-phobic individuals are characterized by exaggerated expectancies to be faced with spiders (so-called encounter expectancy bias). Whereas phobic responses have been linked to brain systems mediating fear, little is known about how the recruitment of these systems relates to exaggerated expectancies of threat. We used fMRI to examine spider-phobic and control participants while they imagined visiting different locations in a forest after having received background information about the likelihood of encountering different animals (spiders, snakes, and birds) at these locations. Critically, imagined encounter expectancies modulated brain responses differently in phobics as compared with controls. Phobics displayed stronger negative modulation of activity in the lateral prefrontal cortex, precuneus, and visual cortex by encounter expectancies for spiders, relative to snakes or birds (within-participants analysis); these effects were not seen in controls. Between-participants correlation analyses within the phobic group further corroborated the hypothesis that these phobia-specific modulations may underlie irrationality in encounter expectancies (deviations of encounter expectancies from objective background information) in spider phobia; the greater the negative modulation a phobic participant displayed in the lateral prefrontal cortex, precuneus, and visual cortex, the stronger was her bias in encounter expectancies for spiders. Interestingly, irrationality in expectancies reflected in frontal areas relied on right rather than left hemispheric deactivations. Our data accord with the idea that expectancy biases in spider phobia may reflect deficiencies in cognitive control and contextual integration that are mediated by right frontal and parietal areas.