scholarly journals When Being in the Minority Pays Off

2017 ◽  
Vol 82 (1) ◽  
pp. 147-178 ◽  
Author(s):  
Amandine Ody-Brasier ◽  
Isabel Fernandez-Mateo
Keyword(s):  
Social Relationships ◽  
Intergroup Relations ◽  
Underlying Mechanism ◽  
Relevant Information ◽  
Price Setting ◽  
Local Constraints ◽  
Market Prices ◽  
Intergroup Processes ◽  
Level Data ◽  
Sociological Literature

Economic sociologists have studied how social relationships shape market prices by focusing mostly on vertical interactions between buyers and sellers. In this article, we examine instead the price consequences of horizontal relationships that arise from intergroup processes among sellers. Our setting is the market for Champagne grapes. Using proprietary transaction-level data, we find that female grape growers—a minority in the growers’ community—charge systematically higher prices than do male grape growers. We argue that the underlying mechanism for this unexpected pattern of results involves the relationships developed and maintained by minority members. Specifically, in-depth fieldwork reveals that female growers get together to compensate for their isolation from the majority. This behavior enables them to overcome local constraints on the availability of price-relevant information, constraints that stem from prevailing norms of market behavior: individualism and secrecy. We discuss the implications of these findings for the study of how relationships shape price-setting processes, for the sociological literature on intergroup relations, and for our understanding of inequality in markets.

Tax-Advantaged Trust Use Among IPO Executives: Determinants and Implications for Valuation and Future Performance

2019 ◽  
Vol 95 (3) ◽  
pp. 145-175 ◽  
Author(s):  
Michael J. Dambra ◽  
Matthew Gustafson ◽  
Phillip J. Quinn
Keyword(s):  
Stock Price ◽  
Relevant Information ◽  
Data Availability ◽  
Market Prices ◽  
The Public ◽  
Future Performance ◽  
Estate Taxes ◽  
Price Appreciation ◽  
One Year ◽  
Jel Classifications

ABSTRACT We examine the prevalence and determinants of CEOs' use of tax-advantaged trusts prior to their firm's IPO. Twenty-three percent of CEOs use tax-advantaged pre-IPO trusts, and share transfers into tax-advantaged trusts are positively associated with CEO equity wealth, estate taxes, and dynastic preferences. We project that pre-IPO trust use increases CEOs' dynastic wealth by approximately $830,000, on average. We next examine a simple model's prediction that trust use will be positively related to IPO-period stock price appreciation. We find that trust use is associated with 12 percent higher one-year post-IPO returns, but is not significantly related to the IPO's valuation, filing price revision, or underpricing. This evidence is consistent with CEOs' personal finance decisions prior to the IPO containing value-relevant information that is not immediately incorporated into market prices. JEL Classifications: D14; G12; G32; M21; M41. Data Availability: Data are available from the public sources cited in the text.

Price Setting and Other Attempts to Control the Economy

2016 ◽  
Author(s):  
Egbert Koops
Keyword(s):  
Free Market ◽  
Price Formation ◽  
Market Forces ◽  
Price Setting ◽  
Price Shocks ◽  
Market Prices ◽  
Government Interventions ◽  
Party Autonomy ◽  
Roman Economy ◽  
Similar Vein

Prices in the Roman economy were generally set by the operation of free market forces. Occasional government interventions in the form of price ceilings occurred in times of crisis, to stabilise volatile or politically important markets, or to signal moral policies. The mechanism of price formation was generally understood, but price shocks were expected to be curbed. In a similar vein, the valuation techniques developed by the Roman jurists were based on “true” prices rather than pure market prices. Even so, party autonomy in price setting was the norm. The grain market was guided to some extent for obvious political reasons, but even here there was room for private initiative. The freedom to contract was stressed as late as Diocletian, but, not much later, rampant inflation forced him to issue his edict on maximum prices, which remains an exceptional regulation in many ways.

Family Relationships and Interactions: An Intergroup Approach

2017 ◽  
Author(s):  
Jordan Soliz
Keyword(s):  
Social Relationships ◽  
Family Relationships ◽  
Well Being ◽  
Social Identities ◽  
Family Interactions ◽  
Family Identity ◽  
Intergroup Processes ◽  
Intergroup Communication ◽  
Multiracial Families ◽  
Communication Processes

Families are not immune from intergroup processes that pervade other social relationships and institutions in society. Family relationships are often constituted by individuals with different identities and worldviews, especially when considering the changing landscape of families (e.g., multiethnic–multiracial families, interfaith families). Moreover, many of our most personal relationships emerge from the joining of two distinct familial groups (e.g., in-laws, stepfamily members). Whether considering different social identities salient in family interactions (e.g., ethnicity-race, age, political affiliation) or formative dynamics as families merge, intergroup communication processes are central to managing difference in a constructive manner that facilitates development of a shared family identity and individual well-being. Further, an intergroup perspective on family highlights the manner in which families directly and indirectly socialize family members’ intergroup attitudes and worldviews.

The potentially negative effects of cooperation in service systems

2020 ◽  
Vol 52 (1) ◽  
pp. 319-347
Author(s):  
Hakjin Chung ◽  
Hyun-Soo Ahn ◽  
Rhonda Righter
Keyword(s):  
Stackelberg Game ◽  
Price Of Anarchy ◽  
Underlying Mechanism ◽  
Social Benefit ◽  
Service Systems ◽  
Price Setting ◽  
Service Model ◽  
Negative Effects ◽  
Multi Agent ◽  
Profit Maximizing

AbstractThe ‘Price of Anarchy’ states that the performance of multi-agent service systems degrades with the agents’ selfishness (anarchy). We investigate a service model in which both customers and the firm are strategic. We find that, for a Stackelberg game in which the server invests in capacity before customers decide whether or not to join, there can be a ‘Benefit of Anarchy’, that is, customers acting selfishly can have a greater overall utility than customers who are coordinated to maximize their overall utility. We also show that customer anarchy can be socially beneficial, resulting in a ‘Social Benefit of Anarchy’. We show that such phenomena are rather general and can arise in multiple settings (e.g. in both profit-maximizing and welfare-maximizing firms, in both capacity-setting and price-setting firms, and in both observable and unobservable queues). However, the underlying mechanism leading to the Benefit of Anarchy can differ significantly from one setting to another.

MULTIFRACTAL BEHAVIORS IN FOREIGN EXCHANGE MARKETS

Fractals ◽  
2009 ◽  
Vol 17 (01) ◽  
pp. 15-21 ◽  
Author(s):  
SOO YONG KIM ◽  
GYUCHANG LIM ◽  
KI-HO CHANG ◽  
KUM LAN KIM ◽  
S. Y. LEE ◽  
...  
Keyword(s):  
Multifractal Analysis ◽  
Market Price ◽  
Underlying Mechanism ◽  
Fluctuation Analysis ◽  
Two Phase ◽  
Market Prices ◽  
Temporal Correlations ◽  
Developed Turbulence ◽  
Exchange Markets ◽  
Detrended Fluctuation

A two-phase phenomenon in three financial exchange prices is studied. To understand the underlying mechanism for the formation of market prices, we perform the multifractal analysis and the detrended fluctuation analysis in terms of time series of market prices. We also examine higher order temporal correlations for the market price. Although the multifractal properties of market prices are obtained, it cannot be reproduced the binomial multiplicative process through that was used to understand fully developed turbulence.

scholarly journals Ethnogrinding Database: A tool to collect and connect worldwide information on ethnological and ethnoarchaeological hand-milling systems

2020 ◽  
Vol 7 (3) ◽  
pp. 1-23
Author(s):  
Natàlia Alonso ◽  
Georgina Prats ◽  
Themis Roustanis ◽  
Panos Tokmakides ◽  
Soultana Maria Valamoti
Keyword(s):  
Social Relationships ◽  
Raw Materials ◽  
Relevant Information ◽  
Milling Process ◽  
Recent Past ◽  
Tool Manufacture ◽  
Wide Range ◽  
End Products ◽  
Food Cultures ◽  
Different Parts

This study advances research carried out during the creation of a bibliographic database of ethnological information regarding hand milling systems in the framework of the ERC-Project PLANTCULT Identifying the Food Cultures of Ancient Europe: an interdisciplinary investigation of plant ingredients, culinary transformation and evolution through time led by S.M. Valamoti. The main aims of the database are to collect information linked to the processes of plant grinding with handmills, basically driven with a back and forth motion, in different parts of the world and to connect this information to specific archaeological, textual and experimental data, in particular that associated with food preparation. The database is structured in various sections (basically publications, plants and other foodstuffs, milling processes, products, querns and use and social context), in order to facilitate systematic extraction of all relevant information from a wide range of publications that discuss or report on grinding tools in regions and societies of the recent past. The base records a wide range of activities ranging from tool manufacture to end products that include procurement of raw materials, the preparation sequence of tools (including tool-kits), spatial associations, gender issues, plant ingredients and end products. All aspects recorded in the database are interconnected as are the numerous economic and social relationships of the milling process.

scholarly journals The LOVD3 platform: efficient genome-wide sharing of genetic variants

2021 ◽  
Author(s):  
Ivo F.A.C. Fokkema ◽  
Mark Kroon ◽  
Julia A. López Hernández ◽  
Daan Asscheman ◽  
Ivar Lugtenburg ◽  
...  
Keyword(s):  
Genetic Variants ◽  
Relevant Information ◽  
Reading Frame ◽  
Online Databases ◽  
Genome Wide ◽  
Level Data ◽  
Share Data ◽  
Reference Sequences ◽  
Free Open Source ◽  
Current Standards

AbstractGene variant databases are the backbone of DNA-based diagnostics. These databases, also called Locus-Specific DataBases (LSDBs), store information on variants in the human genome and the observed phenotypic consequences. The largest collection of public databases uses the free, open-source LOVD software platform. To cope with the current demand for online databases, we have entirely redesigned the LOVD software. LOVD3 is genome-centered and can be used to store summary variant data, as well as full case-level data with information on individuals, phenotypes, screenings, and variants. While built on a standard core, the software is highly flexible and allows personalization to cope with the largely different demands of gene/disease database curators. LOVD3 follows current standards and includes tools to check variant descriptions, generate HTML files of reference sequences, predict the consequences of exon deletions/duplications on the reading frame, and link to genomic views in the different genomes browsers. It includes APIs to collect and submit data. The software is used by about 100 databases, of which 56 public LOVD instances are registered on our website and together contain 1,000,000,000 variant observations in 1,500,000 individuals. 42 LOVD instances share data with the federated LOVD data network containing 3,000,000 unique variants in 23,000 genes. This network can be queried directly, quickly identifying LOVD instances containing relevant information on a searched variant.

Examining the Association between Racialized Economic Threat and White Suicide in the United States, 2000–2016

2022 ◽  
pp. 002214652110698
Author(s):  
Simone Rambotti
Keyword(s):  
Social Relationships ◽  
Sociological Theory ◽  
State Level ◽  
White Men ◽  
The United States ◽  
Men I ◽  
Economic Threat ◽  
Discouraged Workers ◽  
Level Data ◽  
Population Ratio

Suicide is steadily rising. Many blamed worsening economic conditions for this trend. Sociological theory established clear pathways between joblessness and suicide focused on status threat, shame, and consequent disruption of social relationships. However, recent empirical research provides little support for a link between unemployment and suicide. I attempt to reconcile this contradiction by focusing on white suicide and white employment-to-population ratio. Whiteness is not just a default category but a pervasive ideology that amplifies the effects of status loss. The white employment-to-population ratio represents a form of racialized economic threat and accounts for discouraged workers who have exited the labor force. I use longitudinal hybrid models with U.S. state-level data, 2000 to 2016, and find that decreasing employment is associated with increasing suicide among the white population and white men. I discuss this study’s contributions to the literature on suicide and joblessness and the emerging scholarship on whiteness and health.

scholarly journals Network using Michaelis–Menten kinetics: constructing an algorithm to find target genes from expression data

2019 ◽  
Author(s):  
Mythreye Krishnan ◽  
Michael Small ◽  
Anthony Bosco ◽  
Thomas Stemler
Keyword(s):  
Gene Network ◽  
Target Genes ◽  
Underlying Mechanism ◽  
Relevant Information ◽  
Complex Data ◽  
Expression Data ◽  
Gene Expression Data Analysis ◽  
Biologically Relevant ◽  
Cell Responses ◽  
Network Patterns

Abstract The most challenging aspect of gene expression data analysis is to process the large and complex data using mathematical models and find biologically relevant information that gives insight to the underlying mechanism. We derived a simple ordinary differential equation-based model using Michaelis–Menten Kinetics to process the microarray data. Different biological systems of experimental rhinovirus infection in humans, atopic CD4 T cell responses in allergens and responses to cancer immunotherapy in mice have been studied. The resulting analysis extracts highly linked target genes, the changes in which might cause changes in the other genes, in other words, potential targets for modulating gene network patterns and emergent biological phenotypes. We illustrate the application of the algorithm to identify novel targets in addition to previously identified targets in different experimental contexts.

scholarly journals Recurrent circuit dynamics underlie persistent activity in the macaque frontoparietal network

eLife ◽  
2020 ◽  
Vol 9 ◽  
Author(s):  
Eric Hart ◽  
Alexander C Huk
Keyword(s):  
Computational Models ◽  
Theoretical Models ◽  
Relevant Information ◽  
Persistent Activity ◽  
Frontoparietal Network ◽  
Recurrent Excitation ◽  
Level Data ◽  
Local Functional ◽  
Oculomotor Response ◽  
Saccade Task

During delayed oculomotor response tasks, neurons in the lateral intraparietal area (LIP) and the frontal eye fields (FEF) exhibit persistent activity that reflects the active maintenance of behaviorally relevant information. Despite many computational models of the mechanisms of persistent activity, there is a lack of circuit-level data from the primate to inform the theories. To fill this gap, we simultaneously recorded ensembles of neurons in both LIP and FEF while macaques performed a memory-guided saccade task. A population encoding model revealed strong and symmetric long-timescale recurrent excitation between LIP and FEF. Unexpectedly, LIP exhibited stronger local functional connectivity than FEF, and many neurons in LIP had longer network and intrinsic timescales. The differences in connectivity could be explained by the strength of recurrent dynamics in attractor networks. These findings reveal reciprocal multi-area circuit dynamics in the frontoparietal network during persistent activity and lay the groundwork for quantitative comparisons to theoretical models.

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