Modelling of a thermomechanically coupled forming process based on functional outputs from a finite element analysis and from experimental measurements

In this paper, measurements from experiments and results of a finite element analysis (FEA) are combined in order to compute accurate empirical models for the temperature distribution before a thermomechanically coupled forming process. To accomplish this, Design and Analysis of Computer Experiments (DACE) is used to separately compute models for the measurements and the functional output of the FEA. Based on a hierarchical approach, a combined model of the process is computed. In this combined modelling approach, the model for the FEA is corrected by taking into account the systematic deviations from the experimental measurements. The large number of observations based on the functional output hinders the direct computation of the DACE models due to the internal inversion of the correlation matrix. Thus, different techniques for identifying a relevant subset of the observations are proposed. The application of the resulting procedure is presented, and a statistical validation of the empirical models is performed.     

Risk aversion over finite domains

We investigate risk attitudes when the underlying domain of payoffs is finite and the payoffs are, in general, not numerical. In such cases, the traditional notions of absolute risk attitudes, that are designed for convex domains of numerical payoffs, are not applicable. We introduce comparative notions of weak and strong risk attitudes that remain applicable. We examine how they are characterized within the rank-dependent utility model, thus including expected utility as a special case. In particular, we characterize strong comparative risk aversion under rank-dependent utility. This is our main result. From this and other findings, we draw two novel conclusions. First, under expected utility, weak and strong comparative risk aversion are characterized by the same condition over finite domains. By contrast, such is not the case under non-expected utility. Second, under expected utility, weak (respectively: strong) comparative risk aversion is characterized by the same condition when the utility functions have finite range and when they have convex range (alternatively, when the payoffs are numerical and their domain is finite or convex, respectively). By contrast, such is not the case under non-expected utility. Thus, considering comparative risk aversion over finite domains leads to a better understanding of the divide between expected and non-expected utility, more generally, the structural properties of the main models of decision-making under risk.

     

Socio-economic patterns of sport demand and ageing

Due to the demographic situation in nowadays societies, physical activity, and sport expenditure have to be analysed from a demographic as well as socio-economical perspective. This means that determinants such as age, gender, nationality/ethnicity, income, time, educational level, profession, and social status have to be taken into account. However, when comparing the various studies, the different methods of analysis and different operationalisation of variables have to be considered. This is in particular vital investigating age. Whilst cross-sectional studies point out that physical activity generally decreases with increasing age, longitudinal analyses come to different results. Previous studies indicate that pertaining to gender more men take part in sports than women. However, considering period and cohort effects, recent longitudinal studies showed that women participate more in sport than in the past. Besides, it was found out that men generally tend to spend more money on sports than women do. A further finding is that the educational level influences physical activity positively. Research revealed that income had a positive impact on both, physical activity and sport expenditure.     

Second modernity as a research agenda: theoretical and empirical explorations in the 'meta-change' of modern society

In this article we are reformulating the theory of reflexive modernization as an empirical research programme and summarize some of the most recent findings which have been produced by a research consortium in Munich (integrating four universities, funded by the German Research Society (DFG)). On this basis we reject the idea that Western societies at the beginning of the twenty-first century move from the modern to the post-modern. We argue that there has been no clear break with the basic principles of modernity but rather a transformation of basic institutions of modernity such as the nation-state and the nuclear family. We would suggest, therefore, that what we are witnessing is a second modernity. Finally, we reform the theory of reflexive modernization in reaction to three uttered objections.     

Voluntary agreements between competitors: trick or truth?

Voluntary agreements in which competitors commit to common goals are important tools for corporate social responsibility. After entering into a commitment, however, competitors often have incentives to behave opportunistically. This is possible because voluntary agreements are not enforced by external sanctions. We present the results of an exploratory laboratory experiment that investigates the behavior of competitors engaging in commitments and consequently the effectiveness of such measures. We find that introducing a publicly visible commitment device that is implemented with a low probability mitigated conflict between competitors substantially. Our results show that subjects’ inclination to defect one another after competition was mainly driven by the opponents’ refusal to enter into a commitment. In our experiment, a commitment was not used to trick the competitor into a false sense of security but rather to convey the truth about subjects’ moral behavior. We conclude that the efforts of (non-)governmental institutions to reinforce trust between competitors may be of substantial value.     

Capital structure decisions in family firms: empirical evidence from a bank-based economy

This paper analyzes the question if and how founding families influence the capital structure decision of their firms. By using a unique, partially hand-collected panel dataset of 660 listed German companies (5,135 firm years) over the period 1995–2006, we come up with the following results: German family firms have significantly lower leverage ratios than non-family firms. With respect to the question how families influence the capital structure of their firms, we can show that the family impact is mostly driven via management involvement. In this context, we also detect that the presence of a founder CEO has a strong negative effect on the leverage ratio. Our results prove to be stable against a battery of robustness tests, including the influence of other types of blockholders and the firms’ life cycle. Moreover, we use a propensity-score based matching estimator to alleviate concerns of reverse causality. Overall, our study suggests a strong, negative and causal relationship between family firm characteristics (especially family management) and the level of leverage.     

如何管理利益冲突？

由于公司丑司的不断出现，许多国家都加强了公司治理的力度，其中一个方面就是要求公司用一种正确而透明的方式来处理董事会成员们身上的利益冲突问题。     

Overcoming neoliberal globalization: social-ecological transformation from a Polanyian perspective and beyond

ABSTRACT

The ecological crisis has intensified in many respects. Prominent proposals to deal with the crisis are discussed under the header ‘sustainability transformations’ or even ‘Great Transformation’. We argue that most contributions suffer from a narrow analytical approach to transformation ignoring the largely unsustainable dynamics of global capitalism and the power relations involved in it. Thus, a ‘new critical orthodoxy’ of knowledge about transformation is emerging which runs the danger to contribute to a spatially and socially highly uneven green capitalism. This article claims that the current debate on social-ecological transformation can be enriched by a Polanyian understanding but also based on regulation theory. We distinguish between three types of transformation: incremental adaptation of the current institutional systems, institutional change in favour of a new ‘green’ phase of capitalism, and a post-capitalist great transformation that implies a profound structural change of the mode of production and living.     

How much does reducing inequality matter for global poverty?

The Journal of Economic Inequality - The goals of ending extreme poverty by 2030 and working towards a more equal distribution of incomes are part of the United Nations’ Sustainable...