Oppression and resistance: the powerless and the future

Relations between rich and poor (across and within countries) appeared in some questions in Images; there were clear differences between what the powerful and the powerless hoped and expected from the future. This is compared with what actually happened and a deeper analysis is made of ‘power’ as an organizing concept. It turned out that the pessimism associated with powerlessness tended to make better predictions.     

Communication in international business-to-business marketing channels: Does culture matter?

As business-to-business marketing channels become more international in scope, communication in channels occurs among a more diverse set of channel participants from different national cultures. Do such cultural variations influence channel communications and if so, how? This study examines these questions in international business-to-business marketing channels comprised of channel members representing different cultural contexts. The findings show that there is a relationship between culture and channel communication in international channels. This influence stemming from “cultural distance” may have significant implications as business moves into the E-commerce era of Internet-based B2B international channels of distribution.     

The rise of risk-based pricing of mortgage interest rates in Italy

This paper assesses how much mortgage interest rates in Italy are priced on credit risk as proxied by the probability of household mortgage delinquency estimated using the EU-Silc database. Owing to data availability, we restrict the analysis of mortgage pricing to Italian households. Consistent with the more widespread use of credit scoring, estimates indicate that Italian lenders have increasingly priced mortgage interest rates on household credit risk. For mortgages granted between 2000 and 2007, we find that a 1% point increase in the probability of default is associated with a 21 basis point rise in mortgage interest rates, lower than the 38 basis point premium Edelberg (2006) estimated for the US at the end of the 1990s.     

Optimal investment strategies in an international economy with stochastic interest rates

We investigate how investors should optimally choose to invest in a dynamically complete international market. We find closed-form solutions for the optimal investment strategy and for the wealth loss an investor suffers from not investing internationally. Theoretically, we show that the gain from international investment is due to the speculative investment only, and why it is important for an investor from a large economy to invest in a small economy. In a numerical example we compare the wealth losses investors from Denmark and the U.S. suffer due to home bias.     

Evaluating transport user benefits and social surplus in a transport market—The case of the Norwegian ferries

The article first infers how consumer surplus in a market is linked to revenue under different assumptions about fare elasticity and when using different types of demand functions. This information is added to producer surplus in order to derive social surplus. The method, thus, produces a simple approach for authorities to assess social surplus in a market and its benefits to the users. A modified exponential demand function is applied to calculate consumer surplus and social surplus for 97 ferry services in Norway regulated by the state. The calculations are based on empirical data concerning ferry fare, revenue data at service level and reasonable assumptions about fare point elasticity for services covering different distances.In 2007, these services generated welfare for the users (consumer surplus) and the society (social surplus) amounting to about 5.8 billion NOK and 4.3 billion NOK, respectively. Consumer surplus and social surplus varied considerably amongst the services. Only 3 of the 97 services operate with positive profits and, hence, without subsidies. About 21 of the services contribute negatively to social surplus. Many of these unprofitable services are the only transport alternatives in rural areas and could be argued to continue operation according to politically decided regional measures. Implicitly, maintaining all these 21 services means that the welfare for the people in these areas is valued as up to four times greater than the welfare of the people in the rest of society.     

Different but Similar: Social Comparison of Travel Motives Among Tourists

Although previous research suggests that people prefer to think of themselves as being authentic (or individualistic) travellers rather than stereotyped tourists, there have been few studies investigating the external validity of such claim. This paper addresses this research gap by investigating tendencies to dissociate the self from typical tourists in terms of travel motivation. Findings suggest that people perceive their own travel motives to be different from those who they perceive as typical tourists and that these tendencies generalize across people involved in different forms of tourism. This paper discusses the results from a social psychological perspective and provides implications for future research and destination management alike. © 2014 The Authors. International Journal of Tourism Research published by John Wiley & Sons, Ltd.     

A push to cycling—exploring the e-bike's role in overcoming barriers to bicycle use with a survey and an intervention study

In Norway, as in many countries, there is a political goal to increase bicycle use. The electric bicycle (e-bike) is a promising tool for achieving this goal, given the hilliness of the country. However, little is yet known about the deterrents of cycling in Norway in general, and in particular how the purchase of an e-bike could be stimulated.

In the current study, 5500 respondents from a convenience sample among car owners were asked about their perceptions of bicycling in general, and of e-bikes in particular as well as their willingness to pay (WTP) for an e-bike. Randomly selected participants (N = 66) were given access to an e-bike for a limited time (2 or 4 weeks). A second questionnaire captured the same perceptions and WTP post-intervention. The results were compared with a control group (N = 214).

The results showed that those who cycle the least were most interested in buying an e-bike and that prior knowledge of the e-bike corresponded with a higher desire to buy one. Pro-environmental values did not predict interest in e-bikes, neither did norms and attitudes toward cycling. The WTP for an e-bike increased after having experienced the benefits for those who used an e-bike compared to those who did not. Price reduction of the e-bike (e.g. VAT exemption), spread of knowledge among the wider population, and actions to offer an e-bike experience may therefore be effective strategies for further expansion of the e-bike in the transport system and thereby to increase bicycle use in Norway.     

Influence of Social Media over the Stock Market

This research analyzes investors’ activity through social media and these media's influence over the Chicago Board Options Exchange Market Volatility Index (VIX) using a logit model and a fuzzy‐set qualitative comparative analysis (fsQCA). The logit results show that social media sentiment influences stock markets. Meanwhile, the fsQCA results show that the investors’ profile is important for explaining how social media influence the stock market. Particularly, holding period combined with experience in technical investors contributes to avoiding a raise in market risk, whereas for nontechnical investors message sentiment and experience form the combination that contributes to avoid a raise in market risk.