Research on Online Shopping Demand of Chinese Elderly under the Background of Aging

Firstly, this paper analyzes the main characteristics of China's elderly consumer market. Secondly, it analyzes the changes of the elderly consumer market from environmental and psychological factors. Thirdly, it analyzes the problems existing in China's online shopping market for the elderly. The study found that there are many problems in China's elderly market, including lack of pertinence of market products, complex operation, chaotic market order, many after-sales problems and so on. Finally, the following countermeasures and suggestions are put forward to promote the healthy development of the elderly consumer market: by expanding the development scope, creating the elderly model of online shopping platform, strengthening supervision and broadening sales channels, we can bring a more comfortable online shopping experience for the elderly group.

The Portuguese Road to Neoliberalism (1976–1989)

The Portuguese constitution, passed in April 1976, considered the nationalisations undertaken after the Carnation Revolution to be ‘irreversible’, prescribing a development model based on state planning. Changes made to the constitutional text, in 1989, allowed for a privatisation programme that curtailed government intervention and reinforced market provision. This mirrored a previous shift in the public sphere. Whereas political debate in 1976 was mostly centred on state-led development models, the next decade witnessed the rise of a pro-market approach. Two crises of the balance of payments encouraged a growing number of economists, businessmen, journalists and politicians to argue for the need to revise the constitution, enhancing the role and scope of markets. This article focuses on the rise of a neoliberal intellectual field in Portugal between 1976 and 1989, analysing its efforts to overcome the legacy of the Carnation Revolution and build a competitive market order in a semiperipheral context.

Crisis y refundación del mito democrático: el octubre chileno, preguntas y tensiones

Based on a critical theoretical tradition of democracy, the article rehearses an interpretation of the Chilean revolt of October 2019. It is argued that this episode indicates the exhaustion of the myth in which democracy obtains its legitimacy and perpetuation as a promise of the realisation of its founding values. To this end, it examines the overall historical context in which the Chilean democratic transition is taking place, thus discovering its close link to the order designed by the Chilean dictatorship. A series of symbolisms articulate the global market order with the social model favoured by the dictatorship, but implemented with a democratic appearance. Finally, the elements that allow us to understand the signs of the collapse of the ‘democratic mythologem’ in the October revolt are reviewed and questions are asked about the political challenges that are posed.

Are Free Market Fiduciary Media Possible? On the Nature of Money, Banking, and Money Production in the Free Market Order

Recent debates in monetary theory have centered on so-called free banking and the role of banks in providing money in the form of fiduciary media in a pure market economy. This paper examines how and to what extent fiduciary media can emerge in a pure market economy. Based on the theory of value, it is argued that those economists are mistaken who claim that money substitutes must in all cases be interpreted as being money titles. Those economists too are mistaken, however, who claim a large role for the circulation of fiduciary media in a pure market economy. It is argued that holding fiduciary media in one’s cash balance is an entrepreneurial error, as fiduciary media by their nature do not have the qualities people demand in holding money. Money is the comparatively most certain good and the present good par excellence, qualities that fiduciary media do not have. Holding fiduciary media instead of money is therefore an entrepreneurial error, and like all errors in the free market, it will tend to be eliminated in the process of entrepreneurial profit and loss, leading to the virtual disappearance of all fiduciary media from the market economy.

What are markets? Selected market theories under genuine uncertainty in comparison

Since market economies are the dominant form of regulating economic action all over the world, the question arises how markets are conceived theoretically. Answering this is relevant because we need to know how existing and hypothetical markets work in general, what they “can do”, and how one can improve the market order. There are three different market approaches that consider genuine uncertainty. According to the new institutional economics approach, markets are institutions that increase boundedly rational actors’ utility. The markets-as-institutional-arrangements approach denies that markets maximize or minimize market outcomes and argues that they enable harmony between individual and common interests. According to the political-cultural approach, markets are political arenas with conflicts between the relevant actors. Deciding reasonably for a theory requires answering whether one theory is more adequate than another. Since literature has not answered this so far, the present paper deals with this issue from a critical-rationalist perspective. It finds that the institutional economics approach is not adequate because its assumptions contradict reality and each other. In contrast, the markets-as-institutional-arrangements approach and the political-cultural approach fulfill critical-rationalist requirements. Therefore, the paper compares them and finds that there are reasons to prefer the political-cultural approach and to interpret the markets-as-institutional-arrangements approach as its special case. Referring to the political-cultural approach has different consequences for analyzing and improving the market order. Taking a political-cultural view implies, e.g., not only focusing on desirable social values and market rules but also on the relevance of interpretative frameworks and power.

Modeling Market Order Arrivals on the German Intraday Electricity Market with the Hawkes Process

We use point processes to analyze market order arrivals on the intraday market for hourly electricity deliveries in Germany in the second quarter of 2015. As we distinguish between buys and sells, we work in a multivariate setting. We model the arrivals with a Hawkes process whose baseline intensity comprises either only an exponentially increasing component or a constant in addition to the exponentially increasing component, and whose excitation decays exponentially. Our goodness-of-fit tests indicate that the models where the intensity of each market order type is excited at least by events of the same type are the most promising ones. Based on the Akaike information criterion, the model without a constant in the baseline intensity and only self-excitation is selected in almost 50% of the cases on both market sides. The typical jump size of intensities in case of the arrival of a market order of the same type is quite large, yet rather short lived. Diurnal patterns in the parameters of the baseline intensity and the branching ratio of self-excitation are observable. Contemporaneous relationships between different parameters such as the jump size and decay rate of self and cross-excitation are found.

L’ordre de marché comme croyance

This article proposes a radically subjective theory of market order. It argues that we should reject the theories that construct a rigid notion of order around a pre-existing model (equilibrium theory and the theory of self-organising orders) (2) in favour of a conception of order from the point of view of the agents (3). In this context, order is no longer defined in terms of criteria imposed ex ante by the observer, but in terms of the rules of which it is constituted. Market order is then approached as a sui generis order which is by nature invisible, because it is mental. The market is an order because agents possess the motivation and desire to believe that it is. Under these conditions, the market order can only survive as long as it is perceived as such by individuals seeking to carry out projects of production and consumption through exchange. Key words: equilibrium, order, and trust. Clasificación JEL: D50. Résumé: Cet article propose une théorie radicalement subjective de l’ordre de marché. Il propose d’écarter, d’une part, les théories qui figent l’ordre autour d’un modèle qui lui préexiste (théorie de l’équilibre et théorie des ordres auto-organisés) (2) et de développer, d’autre part, une conception de l’ordre qui prend le point de vue des acteurs (3). L’ordre n’est pas défini dans cette perspective en référence à un critère posé ex ante par l’observateur, mais par rapport aux règles qui le constituent. L’ordre de marché est alors pensé comme un ordre suis generis qui est invisible par nature puisque mental. C’est parce que les hommes ont des motifs de croire et la volonté de croire que le marché est un ordre qu’il en est un. L’ordre de marché ne se perpétue, dans ces conditions, que s’il est perçu comme tel par les individus qui cherchent à réaliser leur projet de production et de consommation par l’échange.