Robust Contracts in Continuous Time

We study a continuous‐time contracting problem under hidden action, where the principal has ambiguous beliefs about the project cash flows. The principal designs a robust contract that maximizes his utility under the worst‐case scenario subject to the agent's incentive and participation constraints. Robustness generates endogenous belief heterogeneity and induces a tradeoff between incentives and ambiguity sharing so that the incentive constraint does not always bind. We implement the optimal contract by cash reserves, debt, and equity. In addition to receiving ordinary dividends when cash reserves reach a threshold, outside equity holders also receive special dividends or inject cash in the cash reserves to hedge against model uncertainty and smooth dividends. The equity premium and the credit yield spread generated by ambiguity aversion are state dependent and high for distressed firms with low cash reserves.     

The Value of Domestic Supply Chains: Producers,Wholesalers, and Urban Consumers in Colombia

Global value chains are potential links between smallholder farmers in developing countries and lucrative markets in industrialised nations. However, food access for poor consumers in Third World cities depends largely on traditional domestic supply chains. This article focuses on the market for perishables in Colombia, which is dominated by peasant farming and ranching, wholesale (spot) markets, and small, family‐run corner stores and butchers. Here, evidence suggests that, despite characterisation of traditional supply chains as inefficient, they provide critical outlets for smallholders' heterogeneous production while simultaneously ensuring availability of cheap food for poor urban consumers.     

Tensions that Make a Difference: Institutions,Interests, and the Immigrant Drive1

This article examines the dynamics underlying contemporary South‐North population displacements and the common gaps between public perceptions of the phenomenon and actual realities. I analyze these dynamics and gaps by focusing on the clash between opposing forces at various stages of the migration process. These tensions occur between actors endowed with unequal power, leading to inefficient Nash‐like equilibria where the interests of less powerful participants and those of society‐at‐large in the successful integration of its newest members are not maximized. Matrices of hypothetical payoffs for relevant actors are presented for illustration. Systemic changes that would alter the present situation in the direction of more efficient and stable outcomes are discussed.     

User-Centered Design (UCD) applied to the identification and modification of unustainable practices

Metropolitan Autonomous University, Cuajimalpa Unit (UAM-C) has as one of its main themes, researching and teaching of sustainability. In it, the Bachelor of Design program considers among its teaching approaches those of User-Centered Design and Eco-design as important issues, this explains the interest in addressing the areas in which both approaches can be articulated to reduce unsustainable practices through the design of messages, environments and products.     

Rescuing gender: An exploration of embodied resilience-making in the Chilean miners' catastrophe

In this paper, we explore the theoretical and empirical links between gender and resilience within the context of crisis management by developing a theoretically oriented analysis of the iconic case of the 33 Chilean miners rescue. Analytic focus is placed on the capacity of resilience-promoting actors to embody and transform the discursive and practical dimensions of gendered regimes that predominate at an organizational level. As a result, we can distinguish four distinct modalities—normative redefinition, emotional reaccommodation, resistance, and affective affirmation—through which the gendered dimension of resilience becomes undone and redone, based on the action of alternative rationalities and affects. Overall, our findings indicate that resilience cannot be made possible without effectively disputing the norms that dispose how bodies, in all their diversity, are able to be recognized and socially experienced to face and manage crises effectively.     

“Such Hatred Has Never Flourished on Our Soil”: The Politics of Holocaust Memory in Turkey and Spain

In this article, we analyze local Holocaust Remembrance Day (HRD) ceremonies promoted by the International Holocaust Remembrance Alliance (IHRA) in Spain and Turkey. We investigate whether these memory practices have the potential to lead to a cosmopolitan engagement with the host countries’ own pasts. Focused on the same memorial events in highly contrasting and diverse national contexts, this article examines how supranational memory discourses are adopted and reinterpreted within the nation‐state framework. Our ethnographic observation of the commemorations and analysis of the speeches between 2011 and 2018 in Turkey and 2005 and 2018 in Spain show that the Spanish ceremony can be defined as porous and to a certain degree open to multivocality—given the participation of different mnemonic communities—while the Turkish one is sealed and does not allow for the possibility of disrupting its self‐congratulatory national memory narrative. Paradoxically, in both cases, especially in Turkey, the national legitimation profiles are bolstered by the universal frameworks that Holocaust memory provides. Even though memory travels transnationally, the nation‐state still is the most powerful translator of this past. This results in the rendition of pre‐Holocaust nostalgic pasts as a multicultural heaven where different groups, including the Jewish community, lived in harmony.     

Maximal domains of preferences preserving strategy-proofness for generalized median voter schemes

We characterize the maximal sets of preferences under which generalized median voter schemes are strategy-proof. Those domains are defined by a qualified version of single-peakedness, which depends on the distribution of power among agents implied by each generalized median voter scheme. Received: 28 April 1997/Accepted: 30 January 1998     

Childhood Mortality Estimates Using the Preceding Birth Technique: Some Applications and Extensions

The Preceding Birth Technique has proved to be a simple and effective way of estimating mortality during the first two years of life when the question on the survival of the preceding child is asked at the time of a subsequent delivery. This article shows first that earlier worries about significant biases in the estimates are unfounded. Amongst the possible sources of bias considered are: the link between birth-interval length and child survival; the effects of birth intervals differing from 30 months; and the contribution of other systematic biases, such as the omission of all reports on the survival of a woman's last child. Results from a trial in the maternity clinics in Bamako, Mali are presented to illustrate both practical aspects of the method and selection effects by age and parity. A strong association between the survival chances of the succession of children born to one mother emerges. The second part of the article describes how the method can be applied more widely by asking the key questions at times other than a subsequent delivery. Adjustment factors are developed to correct for the biases introduced when the sample includes only mothers whose last-born children are alive at interview.Finally, some examples are given of recent use of the question on the survival of the preceding child in household surveys.