Radoslav Baltezarevic, Borivoje Baltezarevic, Piotr Kwiatek and Vesna Baltezarevic ABSTRACT: The emergence of the Internet and various forms of virtual communities has led to the impact of a new social space on individuals who frequently replace the real world with alternative forms of socializing. In virtual communities, new ‘friendships’ are easily accepted; however, how this...

The emergence of the Internet and various forms of virtual communities has led to the impact of a new social space on individuals who frequently replace the real world with alternative forms of socializing. In virtual communities, new ‘friendships’ are easily accepted;however,how this acceptance influences cultural identity has not been investigated. Based on the data collected from 443 respondents in the Republic of Serbia, authors analyzethisconnexion,as well as how the absorption of others’ cultural values is reflected on the local cultural (...) values. The results show that the adoption of others’ cultural values diminished the bond with the local community. The present paper adds to the theory of virtual communities by examining the relationship between the acceptance of an unknown person in a virtual community and its effects on cultural identity. This study contributes to the clarificationof the impact that virtual networking has on cultural identity. (shrink)

Catastrophe insurance differs from regular insurance in that individual claims are correlated and insurers have to pay more clients at once, which creates a liquidity strain. In this paper, I show two related findings: first, that when customers know their claims are correlated, this correlation can cause positive-sloping demand at low prices, and second, that because of this, a catastrophe insurance market can fail. Market failure is a stable equilibrium, which provides a better understanding of the frequent failures in catastrophe (...) insurance markets. (shrink)

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