Models are of central importance in many scientific contexts. The centrality of models such as inflationary models in cosmology, general-circulation models of the global climate, the double-helix model of DNA, evolutionary models in biology, agent-based models in the social sciences, and general-equilibrium models of markets in their respective domains is a case in point (the Other Internet Resources section at the end of this entry contains links to online resources that discuss these models). Scientists spend significant amounts of time building, (...) testing, comparing, and revising models, and much journal space is dedicated to interpreting and discussing the implications of models. In short, models are one of the principal instruments of modern science. (shrink)

The stronger the level of economic integration between countries, the greater the need to study the formation patterns of the stock market reaction to the financial information signals. This concerns the Ukrainian stock market, which is now in its infancy, and which reaction to financial information signals is sometimes ambiguous. The research aims to identify the formation patterns of return and volatility indicators of the Ukrainian stock market reaction to the US financial information signals. To assess the (...) direct nature of US financial information signals effect on the PFTS stock index, the GARCH econometric modeling toolkit was applied. The research information base is the PFTS stock index and the Federal Reserve System financial information signals at the discount rate for 2000–2019. The fetch is divided into intervals corresponded to the ascent and decline phases of the financial cycle. It was found that an unforeseen increase in the discount rate at the financial cycle decline phase by 25 basis points decreases the PFTS stock index return, on average by 2.9%. Besides, the hypothesis about the general change stabilizing effect in the discount rate on the Ukrainian stock market volatility at the financial cycle growth phase was confirmed. Nevertheless, for investors, the most essential is the regulator’s monetary signals in the discount rate at the financial cycle decline phases rather than at the ascent phases because there is a more significant increase in the volatility level. (shrink)

Growing out of a conference on Expectations Formation and Economic Disequilibrium held in New York City in 1981, the papers in this volume provide a complex view of market processes in which individual rationality is no guarantee of convergence to the 'correct' model and the equilibrium coordination of agents' plans. They reject the 'optimality' argument for the rational expectations hypothesis, opening the door to other hypotheses of optimal expectations of agents in the decentralized market economy.

Models are of central importance in many scientific contexts. The roles the MIT bag model of the nucleon, the billiard ball model of a gas, the Bohr model of the atom, the Gaussian-chain model of a polymer, the Lorenz model of the atmosphere, the Lotka- Volterra model of predator-prey interaction, agent-based and evolutionary models of social interaction, or general equilibrium models of markets play in their respective domains are cases in point.

The author overviewed the substantive content of the category of "globalization". The influence of globalization processes on the development of agribusiness of Ukraine is considered. The likely benefits and risks of growth of the country's participation in the global economic processes are determined. The level of preparedness of the state under globalization is studied. Global trends of the development of agriculture and providing people with food are overviewed. The current state of the development of agribusiness is analyzed, the problems are (...) found and their solutions are proposed. The necessity of the state support for the studied sector of economics is proved. The future of Ukrainian agriculture in the context of globalization depends on its adaptive capacity. In our opinion, three groups of conditions affect the competitiveness of domestic agriculture in the world. They are: macroeconomic conditions that are determined by rationality and dynamism of the domestic economy; prerequisites for investment, especially in the development of an appropriate climate in the country and at the level of each entity; agricultural development in accordance with accepted social standards. Achieving the competitive level in the global food market requires considerable and sustained financial investment in almost all sectors, especially in scientific research and agricultural education. The increasing level of globalization in the international trade, including food, significantly affects the nature of the problem of food self-sufficiency. (shrink)

Chile needs to diversify its energy supply, and should establish policies that encourage the production and use of biofuels. The demand for energy resources increases with population growth and industrial development, making it urgent to find green alternatives to minimize the impacts of greenhouse gas emissions of traditional fuels. However, it is required that sophisticated strategies consider all externalities from the production of biofuels and should be established on the basis of protecting the environment, reducing GHG emissions and to avoid (...) violating human rights. This article presents the Chilean reality, based on ethical principles that should be guarded to regulate the bioenergy market. These principles are: human rights, environmental sustainability, climate change mitigation, right to a fair reward, and equitable distribution. It is concluded that in Chile the concentration of land and water for the development of extractive industries; and for agricultural and forestry purposes, contradicts the principle of human rights. The unequal distribution of income is also highlighted as part of a cycle of social injustice, with a high Gini coefficient . However, the policy of biofuels can be strengthened with the early use of second generation feedstock, the introduction of fair trade and regulation by the state to encourage participation of small farmers, and allows a position for Chile at the forefront of bioenergy production. (shrink)

Individuals often deem market transactions in sex, human organs and surrogacy, among others, repugnant. Repugnance norms can be explained by appealing to social-status concerns. We study an exchange economy in which agents abhor consumption dominance: one’s social status is compromised if one consumes less of every good than someone else does. Dominance may be forestalled by partitioning goods into submarkets and then invoking the repugnance norms that proscribe trade across these submarkets. Dominance may also be forestalled if individuals strategically (...) ‘overconsume’ some goods, interpreted as emergent status goods. When equilibria are multiple, there is scope for welfare-enhancing policies that coordinate on status goods. (shrink)

The growing academic literature on ‘food sovereignty’ has elaborated a food producer-driven vision of an alternative, more ecological food system rooted in greater democratic control over food production and distribution. Given that the food sovereignty developed with and within producer associations, a rural setting and production-side concerns have overshadowed issues of distribution and urban consumption. Yet, ideal types such as direct marketing, time-intensive food preparation and the ‘family shared meal’ are hard to transcribe into the life realities in many non-rural, (...) non-farming households, and it is unclear, in turn, how such realities can fit into models of food sovereignty. A particular practical and research gap exists in how to engage the overwhelming need for food options served under time constraints and (often) outside of the home or a full-service restaurant. The over-generalized vilification of ‘fast food’ should be replaced by a framework that allows us to distinguish between unhealthy, corporate fast foods and both traditional and emerging alternatives that can serve to extend the tenets of food sovereignty further into food processing, distribution and consumption. This article analyzes existing conceptualizations of fast food, explores fast food historically, and studies how food sovereignty can operationalize its tenets and priorities in situations where fast food is an unquestionable necessity. (shrink)

Why and how have supply chain codes of conduct diffused among lead firms around the globe? Prior research has drawn on both institutional and stakeholder theories to explain the adoption of codes, but no study has modeled adoption as a temporally dynamic process of diffusion. We propose that the drivers of adoption shift over time, from exclusively nonmarket to eventually market-based mechanisms as well. In an analysis of an original data set of more than 1,800 firms between the years (...) 2006 and 2015, we find that strong nonmarket labor institutions in a firm’s home country are critical to initiating and sustaining the diffusion process. Market mechanisms, such as investor scrutiny and brand risk, emerge as important later. Contrary to prior research, we did not find a significant effect from nongovernmental organization (NGO) pressure. We conclude that markets for corporate social responsibility can and do arise, but only after they are effectuated by nonmarket institutions. (shrink)

The current research is based on Senninger’s Learning Zone Model applied to the tourists’ comfort zone. This model was created in 2000 and it proved to be useful in many applied areas: Psychology, Sociology, Marketing and Management. This modes is a behavioral one and shows how a person can justify his action based on previous tested experiences or dares to step beyond in fear, learn or growth zone. Our research is extending the existent area of expertise to tourism. We aimed (...) at exploring whether the tourists’ apprehension toward choosing their next destination from a comfort zone perspective or rather from the other zones’ perspectives such as fear, learning or growth. To meet this purpose we conducted a mixed method: firstly a qualitative one, an in-depth interview based on Delphi method with 10 tourism specialists and secondly an online survey on 208 Generation Z tourists. The interviews were meant to help developing a 20 items scale to measure from which of the 4 zones are the respondents making the choice of the future travel destination. Our conclusions show that Gen Z tourists display behaviors that can be associated with learning or growth zones rather than the comfort zone. This is relevant when choosing the next travel destination, because our findings could bring about a new approach to promoting tourist destinations as part of various products. As a result, a large range of managerial tools can better adapt the promotion messages to the target market from a new psychological perspective. (shrink)

Name der Zeitschrift: Klio Jahrgang: 98 Heft: 1 Seiten: 184-202.

W. W. Buckland's highly regarded magisterial work of 1908 is a scholarly and thorough description of the principles of the Roman law with regard to slavery. Chapters systematically address, in Buckland's words, 'the most characteristic part of the most characteristic intellectual product of Rome'. In minute detail, Buckland surveys slaves and the complexity of the position of the slave in Roman law, describing how slaves are treated both as animals and as free men. He begins by outlining (...) the definition of 'slave', their characteristics and conditions, giving examples of particular cases and describing for the reader the sorts of work a Roman slave might do. Carefully and comprehensively referenced throughout, this is a general survey of an important aspect of Roman law by a renowned Cambridge academic, which retains its status as an enduring classic. (shrink)

Information asymmetries are regarded as the main obstacle for consumers to buy responsibly. CSR labels are considered the best tool to give consumers information about the brand's social and environmental performance. Yet, the information and credibility gap associated to the labels may render labels useless. This study aims to unveil the relationship of Spanish consumers with CSR labels, in order to assess the posited consequences of the information and credibility gap. To do so, 385 consumers were interviewed at the main (...) shopping centers in Madrid. The findings support the hypothesized gaps, which leads to recommend public policies in order to improve the effectiveness of CSR labels as an information tool. (shrink)

Friedrich A. von Hayek influenced many areas of inquiry including economics, psychology and political theory. This article will offer one possible interpretation of the ethical foundation of Hayek's political and social contributions to libertarianism and free market capitalism by analyzing several of his important non-economic publications, primarily The Road to Serfdom, The Fatal Conceit, The Constitution of Liberty and Law, Legislation and Liberty. While Hayek did not offer a particular ethical foundation for free market capitalism, he argued consistently (...) that free markets are liberating and, for the markets to be truly free and for individuals to participate freely in markets, they should be subject to little control. Beyond some very basic principles, such as the protection of private property, that enable the free market to function properly, individuals are both free to and required to determine their own ethical compass. The central question, then, is what are the ethical principles that underlie Hayek's view of the successful organization and operation of a free market? If formal rules and regulations must be kept to a minimum, then ethical behavior is an individual choice as well as an important foundation for the self-regulating free market. This article will argue that one possible ethical foundation underlying Hayek's libertarian justification for free market capitalism are Friedrich Nietzsche's "will to power" and noble/slave ethics. This article will rely primarily on Nietzsche's On The Genealogy of Morals, Beyond Good and Evil, Zarathustra, and the Will to Power. (shrink)

This article proposes a new interpretation of slave religious experience in mid-republican Rome. Select passages from Plautine comedy and Cato the Elder's De agri cultura are paired with material culture as well as comparative evidence—mostly from studies of Black Atlantic slave religions—to reconstruct select aspects of a specific and distinctive slave “religiosity” in the era of large-scale enslavements. I work towards this reconstruction first by considering the subordination of slaves as religious agents before turning to slaves’ practice (...) of certain forms of religious expertise in the teeth of subordination and policing. After transitioning to an assessment of slave religiosity's role in the pursuit of freedom, I conclude with a set of methodological justifications for this paper's line of inquiry. (shrink)

Information asymmetries are regarded as the main obstacle for consumers to buy responsibly. CSR labels are considered the best tool to give consumers information about the brand's social and environmental performance. Yet, the information and credibility gap associated to the labels may render labels useless. This study aims to unveil the relationship of Spanish consumers with CSR labels, in order to assess the posited consequences of the information and credibility gap. To do so, 385 consumers were interviewed at the main (...) shopping centers in Madrid. The findings support the hypothesized gaps, which leads to recommend public policies in order to improve the effectiveness of CSR labels as an information tool. (shrink)

Friedrich A. von Hayek influenced many areas of inquiry including economics, psychology and political theory. This article will offer one possible interpretation of the ethical foundation of Hayek’s political and social contributions to libertarianism and free market capitalism by analyzing several of his important non-economic publications, primarily The Road to Serfdom, The Fatal Conceit, The Constitution of Liberty and Law, Legislation and Liberty. While Hayek did not offer a particular ethical foundation for free market capitalism, he argued consistently (...) that free markets are liberating and, for the markets to be truly free and for individuals to participate freely in markets, they should be subject to little control. Beyond some very basic principles, such as the protection of private property, that enable the free market to function properly, individuals are both free to and required to determine their own ethical compass. The central question, then, is what are the ethical principles that underlie Hayek’s view of the successful organization and operation of a free market? If formal rules and regulations must be kept to a minimum, then ethical behavior is an individual choice as well as an important foundation for the self-regulating free market. This article will argue that one possible ethical foundation underlying Hayek’s libertarian justification for free market capitalism are Friedrich Nietzsche’s “will to power” and noble/slave ethics. This article will rely primarily on Nietzsche’s On The Genealogy of Morals, Beyond Good and Evil, Zarathustra, and the Will to Power. (shrink)

Rather than having been designed to function as a slave market, the Agora of the Italians appears to hâve functioned as a multifaceted recreational facility for the members of the Roman collegia of the island. That is, it functioned as a combined palaestra, bath, banquet hall, and gladiatorial arena, such as thèse probably existed at the turn of the second-first centuries B.C. Architecture lly, the building enjoys distinct similarities with the ludii gladiato- rii at Pompeii and at (...) Rome. (shrink)

This work contributes to recent transdisciplinary efforts to view the Haitian slave revolt (1791–1804) as the historical inspiration for Hegel’s master-slave dialectic. Reconstructions offered by contemporary postcolonial scholars argue that the Haitian revolt was chronicled in Minerva as Hegel raced to finish his Phenomenology. Benhabib recently recognized the Hegel-Haiti thesis as entailing the sort of inclusive dialogical learning process necessary to validate subaltern experiences. The thesis has also drawn its share of sceptical scrutiny as Badiou claims that it (...) risks forcing an unnecessary moral dissymmetry, neglects objectionable features of enslavement and imposes a mismatch between apolitical subject and revolutionary. In reply, we appeal to the pioneering work of Tavares to show that the asymmetrical construction of classification schemes for persons of mixed-racial statuses accords with decades of documented literary exchanges between Hegel and Gregoire. We then turn to the work of James on the role of mixed-race merchants in the testimonial accounts of late 18th century French historians to show that European literate publics were well aware of the extremely coercive forms of commodified labour found in Saint-Domingue. We then invoke the archival work of Du Bois on French, British and American parliamentary proceedings that show the provisional colonial identities ascribed to Caribbean subjects did not hinder their self-conscious exercise of political agency. Viewing Hegel in terms of the historiographic records of the racial ontologies of early modern transatlantic literary exchanges helps explain how he adapted these tropes concerning mixed-race subjects in a manner that better explains many of the anomalous features of the dialectic. However, conferring the Haitian revolution its proper world-historical warrant as inspiration for his infamous master-slave dialectic need not lead us to overlook Hegel’s complicity with many of the epistemic and ontological flaws of colonial tropes held in early modern transatlantic print. (shrink)

This article draws on 35 months of ethnographic fieldwork and apprenticeship in a boxing gym located in Chicago's black ghetto to explicate how prizefighters apperceive and express the fact of being live commodities of flesh and blood, and how they practically reconcile themselves to ruthless exploitation in ways that enable them to maintain a sense of personal integrity and moral purpose. The boxer's experience of corporeal exploitation is expressed in three kindred idioms, those of prostitution, slavery and animal husbandry. The (...) first likens the fighter-manager combo to the prostitute-pimp duo; the second depicts the ring as a plantation and promoters as latter-day slave masters; the third intimates that boxers are used in the manner of livestock. All three tropes simultaneously enounce and denounce the immoral marketing of disquiescent bodies. But this acute consciousness is neutralized by the doxic belief in the normalcy of exploitation, in the `agency' of corporeal entrepreneurship, and in the possibility of individual exceptionalism. This practical belief, inscribed in the bodily dispositions of the fighter, helps produce the collective misrecognition whereby boxers collude in their own commercialization. (shrink)