The unexplained and inconsistent behavior of financial markets provides the motivation to engage interdisciplinary approaches to understand its intricacies better. A proven approach is to consider investors as heterogeneous interacting agents who form information networks to inform their investment decisions. The rationale is that the topology of these networks has contributed to a better understanding of the erratic behavior of financial markets. Introducing investor heterogeneity also allows researchers to identify the characteristics of higher performing investors and the implications of investors (...) exhibiting short-termism, a feature recognized by some as detrimental to the performance of the economy. To address these topics, an agent-based artificial stock market is implemented, where investors utilize various information sources, including advice from investors in their network, to inform their investment decisions. Over time investors update their trust in their information sources and evolve their network by connecting to outperforming investors—Oracles—and discarding poor advisers, thereby simulating the evolution of an investor network. The model’s most significant finding is uncovering how the market’s behavior is materially affected by the time-horizon of investors, with short-term behavior resulting in greater volatility in the market. Another finding is the reason why short-term investors generally outperform their long-term counterparts, particularly in more volatile environments. By providing significant insights into the formation of an investor network and its ramifications for market volatility and wealth creation, this paper provides crucial clues regarding the empirical data that needs to be collected, assessed, and tracked to ensure policymakers and investors better understand the dynamics of financial markets. (shrink)
This article contends that the influence of Australian rock musician Lobby Loyde has been overlooked by Australia’s popular music scholarship. The research examines Loyde’s significance and influence through the neglected sphere of his work (1966–1980) with The Coloured Balls, The Purple Hearts, The Wild Cherries, The Aztecs, Southern Electric, Sudden Electric and Rose Tattoo, and his role as producer in the late-1970s until his death. First, it explores how he has been discussed by his musical peers and respected Australian rock (...) historians. Second, it details Loyde’s musical origins and work with early bands during the period in which he was first referred to as Australia’s first guitar hero. Third, it investigates the career and influence of The Coloured Balls, their relationship with the 1970s youth subculture known as the ‘sharpies’, and the media-fuelled moral panic which surrounded both the band and the sharpies. Fourth, it assesses Loyde’s work as a producer in the 1980s, and late-in-life recognition by the Australian music industry. In doing so, the article shows the nature and importance of Loyde’s contribution to Australia’s popular music industry and discusses why he is only known to a strong but small fraction of the Australian public. (shrink)
OBJECTIVE: To ascertain attitudes to different methods of obtaining informed consent for randomised clinical trials (RCTs). DESIGN: Structured interviews with members of the public, medical secretaries and medical students. SETTING: The public were approached in a variety of public places. Medical secretaries and students were approached in their place of work. SUBJECTS: Fifty members of the public, 25 secretaries and 25 students. MAIN OUTCOME MEASURES: Views on RCTs were elicited, with particular emphasis on how subjects thought the concept of randomisation (...) should be explained. Each participant was presented with descriptions of proposed clinical trials and asked to select his or her preference from a range of options. RESULTS: Written information was preferred over verbal information in 91% of replies. Most respondents (86%) would prefer to sign a consent form. Of the seven statements explaining randomisation, a significant difference was found in favour of explanations that were less explicit about the play of chance (ANOVA; p = 0.0004). Eighty-three per cent of participants thought that randomised trials were morally acceptable when there was no prior medical preference between treatments. However, over half (55%) thought they would find it upsetting to be offered entry in such a trial and a quarter thought the outcome of treatment might be adversely affected. CONCLUSIONS: Our results offer some support for the idea that "economy with truth" is less unsettling than a frank description of the stark reality of what randomisation means. It is a matter of debate as to whether, if we are correct, autonomy should have precedence over beneficence. The offer of entry in a clinical trial is likely to affect the experience of care for many people, especially if the process of randomisation is described explicitly. Potential participants should be given a detailed written explanation of the rationale for the trial and be asked to sign a consent form if they agree to take part. (shrink)
The extension of intellectual property rights into the realm of biology has emerged as an increasing focus of controversy in relation to science,2 biodiversity,3 agriculture,4 health,5 development,6 human rights7 and trade.8 This paper presents the results of a review of international trends in activity for patent protection between 1990-2000 and provisional data to 2004 and 2005 from over 70 national patent offices, four regional patent offices and the World Intellectual Property Organisation using the European Patent Office esp@cenet worldwide database.9 The (...) review employed patent publication counts as an indicator of activity for traditional medicines, pharmaceuticals, agriculture, and biotechnology. The research provides insights into the internationalisation of patent activity in multiple areas of biology. The review emphasises the need to combine the further development of quantitative methods with qualitative analysis of the implications of international patent activity in relation to biological and genetic material for science, society and policy. (shrink)
This paper is a review of 39 years of SIGCAS publications in Computers and Society, the newsletter of ACM SIGCAS. The publication is archived in the ACM Digital Library . I set out to examine SIGCAS through its publications.
Knowledge and Postmodernism in Historical Perspective offers answers to the questions, what is postmodernism? and what exactly are the characteristics of the modernism that postmodernism supercedes? This comprehensive reader chronicles the western engagement with the nature of knowledge during the past four centuries while providing the historical context for the postmodernist thought of Jacques Derrida, Michel Foucault, Richard Rorty and Hayden White, and the challenges their ideas have posed to our conventional ways of thinking, writing and knowing. From the science (...) of things to the science of human beings to the grand social theorizing associated with Adam Smith, Alexis de Tocqueville, Karl Marx and Max Weber, Knowledge and Postmodernism in Historical Perspective presents readings from the succession of thinkers whose writings helped define modern sensibilities by analyzing the human capacity for generating knowledge. The volume follows the knowledge-generating project of the modern age as it blossoms in the Enlightenment and bears fruit in the nineteenth century. The writings included reveal the linkages between science, the history of science, hermeneutics, anthropology, sociology, linguistics and philosophy from Francis Bacon's call for experimental engagement with nature in the seventeenth century to Jurgen Habermas' recent analysis of the civil society spawned by the Enlightenment. (shrink)
Usually, when we determine the authenticity of a performer in popular music then we do so either through their biography or their inherence within a tradition. The question of authenticity then becomes one of betrayal. This article argues that there might be a unique way of approaching authenticity through affects, where authenticity is impersonal rather than personal. It uses the work of Pierre Schaeffer to describe the difference between indexes and signs on the one hand, and affects on the other, (...) to develop a concept of abstract subjectivity, which is not the same as the individual. It explains abstract subjectivity through Will Oldham’s description of his performance. Finally, it compares this method of listening to popular music with Blanchot’s description of literature as free indirect discourse, speaking without a first person. It is abstract subjectivity that allows popular music to resist its own commodification, which is the very opposite of authenticity. (shrink)
In the UK and USA ‘Hate crime’ has become a topic of public controversy and social mobilization around issues of violence and harassment. This has largely but not exclusively addressed racism, homophobia and gender based violence. This article has three objectives. First, to situate hate crime legislation within a broad theory of modernity;secondly to examine the politics of its emergence as a public issue; thirdly to use data from the authors' recent research in Greater Manchester to illuminate the complexity of (...) the concept of ‘hate crime’. The centrality of ‘hate crime’ to current debates derives from the importance of rights-based regulation of complex societies and the juridical management of emotional life. Hatred and violence have become problematic behaviour thrown into relief by a long term civilizing process. Hate crimes have thus acquired powerful rhetorical focus for mobilization of victim and identity politics. With reference to racist violence in Oldham and elsewhere in Greater Manchester, we argue that in its application and construction, however, ‘hate crime’ is a complex phenomenon that might dramatize rather than regulate the problems it seeks to address. (shrink)
This brief and provocative 1948 essay by Michael Polanyi was produced for discussion by a group of religious intellectuals convened by J. H. Oldham. Polanyi outlines the sources and contours of modern social and political ideas in terms of the interaction of four types of “substitute deities” that have emerged in modern society and displaced what Polanyi identifies as the “God manifested in the Bible.”.
This article responds to the new and major work on Lobby Loyde by Paul Oldham. It focuses on the middle period of Loyde’s career, from the Chicago-period Billy Thorpe and the Aztecs through to Lobby’s work with Sharpie band (was it?) Coloured Balls, and connects and compares Lobby’s trajectory to that of the post-Lobby Aztecs, as expressed in Sunbury, the 1972 parallel Australian event to Woodstock. Who led these processes, the bands or the crowds? If the crowd claimed a (...) band, what happened to musical autonomy in this process? This was a moment when mass audience response became tribal, and opened the possibility that musicians were no longer in charge of their art. Trying to escape from the wiles of the music industry, these musicians instead seem to have become captive to their audiences. (shrink)
This essay reviews historical records that set forth the discussions and interaction of Michael Polanyi and Karl Mannheim/rom 1944 until Mannheim’s death early in 1947. The letters describe Polanyi’s effort to assemble a book to be published in a series edited by Manneheim. Theyalso reveal the different perspectives these thinkers took about freedom and the historical context of ideas. Records of J.H. Oldham’s discussion group “the Moot” suggest that these and other differences in philosophy were debated in meetings of (...) “the Moot” attended by Polanyi and Mannheim in 1944. (shrink)
Ronald Preston defended the middle axiom approach to doing Christian social ethics developed by J. H. Oldham for the 1937 ‘Life and Work’ conference. Preston argued that middle axioms continue to offer the churches a relevant ecumenical method. Middle axions has since been subject to fundamental criticism by ethicists such as Duncan Forrester. It will be argued that a case study of the Church of Scotland's contribution to the devolution debate, as part of Scottish civil society, supports Preston's defence (...) of the middle axiom approach as a relevant form of political engagement in the new context of local-global politics. (shrink)
This paper will explore the notion of ‘poetic enthusiasm’ in early 18th-century verse. The representation of poetic enthusiasm—the claim to false inspiration, and the fanaticism that was perceived to accompany it—was frequently politicized in this period. Through a conflation of religious and literary discourses, poetic enthusiasm was seen to represent the sae kind of anarchy in the realm of literature that the religious enthusiasm associated with Dissent did in the context of the established church. This paper will establish first of (...) all the way in which Tory and Royalist authors such as John Oldham, John Dryden, and Alexander pope used the established satirical caricature of the religious enthusiast to attack their Whig contemporaries. It will go on to suggest, however, that the relationship between politics and enthusiasm is more complex than this equation between Toryism and anti-enthusiasm suggests. While the Tory attack on literary enthusiasm was premised on an elision of political and literary codes, writers such as Dryden and Pope were also trying to separate out an exclusively poetic meaning for the term. Enthusiasm remained and unstable term because although writers recognized that its religious and political applications were different from its literary sense, they could not easily keep the two apart. (shrink)
Methodist Central Halls were built in most British towns and cities. They were designed not to look like churches in order to appeal to the working classes. Entirely multi-functional, they provided room for concerts, plays, film shows and social work alongside ordinary worship. Some contained shops in order to pay for the future upkeep of the building. The prototype for this programme was provided in Manchester and opened on Oldham Street in 1886. This article offers a first analysis of (...) it as a building type and looks at the wider social and cultural contribution of the building. It continues the narrative by discussing changing use and design during a twentieth century that witnessed the widespread contraction of Methodist congregations. (shrink)