Dimensions of marketplace exclusion: representations,resistances and responses

ABSTRACT

This positioning paper explains and develops the concept of marketplace exclusion, which has received little attention to date in the field of marketing and consumer research. Essentially the concept refers to the mechanisms through which certain individuals and communities are barred from the resources and opportunities provided by the market. Participation in the market and the accompanying rights and responsibilities that allow individuals to act as legitimate consumers is essential for social cohesion and social relations. However, one consequence of consumer culture has been a shift away from values of community and citizenship towards those of materialism and competition. Marketplace exclusion encompasses big questions of poverty, sexism and racism to individual consequences such as isolation and alienation. The paper examines various causes and types of exclusion and discusses key research questions and methodological issues in studying this topic. Finally, it introduces the papers included in this special issue of CMC.     

Continuity,change and performativity in leisure: English folk dance and modernity 1900–1939

In post‐industrial countries, folk dance may be considered as an embodied performance of a perceived tradition and is representational of values attached to an imagined past. The English Country Dance is one such form of folk dance, having been revived, or re‐invented, in the early twentieth century by Cecil Sharp who claimed it to be a national dance of England. However, Sharp re‐defined it not as a popular and spontaneous leisure activity but as a serious middle‐class art form representing an English sensibility and the virtues of a pre‐industrial pastoral collectivism. After the hiatus of the First World War, the English Country Dance continued to offer a resistance to the modern, this time in the form of a burgeoning popular dance culture which embraced urban sophistication and jazz dance. Using the concept of performativity, this paper attempts to demonstrate that the leisure context of the English Country Dance, in terms of spatiality, style, consumption and gender, enabled a continuity of resistance to the modern in a changing socio‐cultural environment. The paper draws upon primary research in the archive of the Manchester Branch of the English Folk Dance Society and upon records of contemporary dance in the Mass Observation archive.     

The human side of disaster

Public engagement through deliberative processes is promoted in both academic and policy circles as a potential means to build public trust in risk decisions and decision‐makers. Governments in particular seem to optimistically take a positive relationship between public engagement and trust almost for granted. This paper provides a new and critical analysis of this hoped‐for relationship, questioning whether such a direct and positive link between engagement and trust is a false hope. The paper draws upon personal experience of deliberative processes to discuss key components of an engagement process that have the potential to impact positively on trust. Specifically, who is engaged and which interests are represented; an open and collaborative framing of the discussion, and a direct and clear relationship between engagement and the risk decision. But the paper argues that given the complexities of optimising these process elements and in the light of the known underlying dimensions of trust, expectations are misplaced and that enduring trust is unlikely to spring from engagement itself. This is not to negate the other benefits of engagement, rather it is to focus on those key elements that will need to be in place, both process and beyond, if trust is to be enhanced.     

New analytical option pricing models with Weyl–Titchmarsh theory

Abstract

In this paper we consider the valuation of Bermudan callable derivatives with multiple exercise rights. We present in this context a new primal–dual linear Monte Carlo algorithm that allows for efficient simulation of the lower and upper price bounds without using nested simulations (hence the terminology). The algorithm is essentially an extension of the primal–dual Monte Carlo algorithm for standard Bermudan options proposed by Schoenmakers et al. [SIAM J. Finance Math., 2013, 4, 86–116] to the case of multiple exercise rights. In particular, the algorithm constructs upwardly a system of dual martingales to be plugged into the dual representation of Schoenmakers. At each level, the respective martingale is constructed via a backward regression procedure starting at the last exercise date. The thus constructed martingales are finally used to compute an upper price bound. The algorithm also provides approximate continuation functions that may be used to construct a price lower bound. The algorithm is applied to the pricing of flexible caps in a Hull and White model setup. The simple model choice allows for comparison of the computed price bounds with the exact price obtained by means of a trinomial tree implementation. As a result, we obtain tight price bounds for the considered application. Moreover, the algorithm is generically designed for multi-dimensional problems and is tractable to implement.     

Corbelled Domes in Two and Three Dimensions: The Treasury of Atreus

Before the development of the true dome, many ancient cultures used the technique of corbelling to roof spaces. Recently, a series of related statistical models have been proposed in the literature for explaining how corbelled domes might have been constructed. The most sophisticated of these models is based on a piecewise linear structure, with an unknown number of changepoints, to guide the building process. This model is analyzed by the reversible jump Markov Chain Monte Carlo (MCMC) technique. All models considered to date have been two-dimensional, that is, they have taken a single cross section through the dome; even when more extensive data, in the form of measurements on multiple slices through the dome, have been available, these have been averaged together for the purposes of analysis. In this paper, we extend the two-dimensional analysis to a three-dimensional analysis, that takes full advantage of the data collected by the archaeologists and of the rotational symmetries inherent in the structure.We also explore ways of graphically presenting the results from a complex, reversible jump MCMC implementation, in order to check convergence, good mixing, and appropriate exploration of the (high dimensional and varying dimension) parameter space. The model and the graphical techniques are demonstrated on the Treasury of Atreus in Mycenae, Greece, one of the finest extant examples of the corbelling method.     

Satisfying convex risk limits by trading

A random variable, representing the final position of a trading strategy, is deemed acceptable if under each of a variety of probability measures its expectation dominates a floor associated with the measure. The set of random variables representing pre-final positions from which it is possible to trade to final acceptability is characterized. In particular, the set of initial capitals from which one can trade to final acceptability is shown to be a closed half-line . Methods for computing are provided, and the application of these ideas to derivative security pricing is developed.Received: May 2004, Mathematics Subject Classification (2000): 91B30, 60H30, 60G44JEL Classification: G10Steven E. Shreve: Work supported by the National Science Foundation under grants DMS-0103814 and DMS-0139911.Reha Tütüncü: Work supported by National Science Foundation under grants CCR-9875559 and DMS-0139911.     

The Emergence of Orientation and the Geometry of Logic

In this paper it is said that cultural evolution consists of four phases which are denoted by the words nature, mythology I, mythology II and history. Pictograms, ideograms and logograms signify two phases fundamental for the later emergence of the linear writing and time as history and thought. The nowaday operational structures of cognition appear as rooted in prehistoric thought meaning vision, ideas – images seen with the inner eye – and logos as orientation of logograms. Thus it is assumed that logic in the form of the elementary first order propositional calculus should be derived from the orientation symmetry of space. The author gives an exact proof in terms of the Clifford algebra that this is indeed the case. Four basic representations in Cl₂, Cl₃, Cl₃ and Cl_3,1 of the 16 expressions of second order logic relations are given. The proposition of transformational self-reference is defined. The most basic self-referent representation of Peirce's box-X icons (the 16 binary logic connectives) is derivated from the spin-representation D_2d of the spatial congruence group of the square or the mandala of the sunwheel. Finally it is shown that the representation in terms of the idempotents of the Clifford algebra Cl_3,1 is isomorphic with Zellweger's logic garnet.     

Alternative targets and economic efficiency of selecting protected areas for biodiversity conservation in boreal forest

We examine the relative merits of alternative forest biodiversity targets, which give different weights to species according to their conservation status and abundance. A site selection framework is used for choosing the habitat-protection strategy that maximizes biodiversity subject to an upper bound on funding with six alternative conservation goals. By using Finnish data on old-growth forests, we found that alternative conservation goals yield different benefit-cost tradeoffs. Goals relying on complementarity between protected stands result in great marginal costs at a high conservation level. Therefore, under these conditions it may not be economically efficient to establish a large conservation network to protect all species in a given area. In contrast, a large conservation network is more likely to be justified when the habitat-protection strategy focuses on species abundance. The trade-offs between alternative objectives are explicitly measured by incrementally varying the weights given to the species. We found that the targets for all species representation and species abundance can largely be met simultaneously. Protecting red-listed species reduces overall species coverage and species abundance particularly at low budget levels.     

A conversational approach to consumer vulnerability: performativity,representations, and storytelling

ABSTRACT

This conceptual article provides a conversational analysis of consumer vulnerability, which unveils how vulnerability is made through conversations and interactions among actors holding different market power positions. Three types of conversations prove fruitful to pursue a transformative research agenda improving vulnerable consumers’ well-being: (1) performativity, which unpacks agency and finalism in conversations; (2) social representations, which reveal uneven power positions and normativity expressed by participants in a conversation; and (3) storytelling, which reveals alternative and more powerful persuasive mechanisms of conversations framed as stories. Illustration for these types of conversations comes from extensive review of the literature on consumer vulnerability and from a critical consideration of my life-as-researcher with consumers as varied as gays, homeless people, migrants, second-generation immigrants, and subcultures of consumption.