Hochkulturelle Praxis und Frame-Selektion

This paper develops an explanation of cultural consumption that is beyond structural relations and therefore brings the logic of action underlying cultural consumption into focus. In order to do so, central concepts from rational-choice-theory and practice-theory are taken into account and combined by means of the model of frame-selection (MFS). It results an integrative model which traces cultural consumption back to the interplay of opportunities, preferences, orientations, and routines, the former two being rather consciously considered parameters of a rational choice- and the latter two automatically processed cultural internalisations. Empirically the model is tested by analysing highbrow cultural consumption behaviour. It can be shown that preferences, opportunities, orientations, and routines each have an independent influence besides structural variables. Moreover, it can be observed that with cultural orientations and routines being strongly internalized the effects of preferences and opportunities decrease, which is in line with the interaction assumed by the MFS.     

Moment characterization of higher-order risk preferences

This article presents a characterization of higher-order risk preferences such as prudence or temperance in terms of statistical moments. Our results, which are generalizations of Roger (Theory Decis, 70(1):27–44, 2011) and Ekern (Econ Lett, 6(4), 329–333, 1980), give a better understanding of how higher-order risk preferences relate to skewness preference and kurtosis aversion. While they are not based on expected utility theory, an implication within that theory is that all commonly used utility functions exhibit skewness preference and kurtosis aversion.     

Retail Strategies for Extended Warranty Sales and Impact on Manufacturer Base Warranties

Consider two competing manufacturers selling their products through the same retailer. If this retailer derives profits from extended warranty sales, the manufacturers face a dilemma in setting their base warranties. Although they have incentive to increase their warranties to make their products attractive to consumers, the retailer might prefer selling lower‐warranty products to enhance extended warranties sales. We develop a stylized model to determine and analyze optimal manufacturer and retailer strategies in this setting. Consistent with the ongoing decline in warranties for products that are sold through independent retailers, we show that these interactions exert downward pressure on manufacturer warranties. Rather than pitching the extended warranty at the checkout after customers have selected a certain product, we find that retailers can often benefit from inducing simultaneous consideration of product and extended warranty characteristics, for example by posting extended warranty information right on the product shelf.     

Inventory Record Inaccuracy,Double Marginalization,and RFID Adoption

Most retailers suffer from substantial discrepancies between inventory quantities recorded in the system and stocks truly available to customers. Promising full inventory transparency, radio frequency identification (RFID) technology has often been suggested as a remedy to the problem. We consider inventory record inaccuracy in a supply chain model, where a Stackelberg manufacturer sets the wholesale price and a retailer determines how much to stock for sale to customers. We first analyze the impact of inventory record inaccuracy on optimal stocking decisions and profits. By contrasting optimal decisions in a decentralized supply chain with those in an integrated supply chain, we find that inventory record inaccuracy exacerbates the inefficiencies resulting from double marginalization in decentralized supply chains. Assuming RFID technology can eliminate the problem of inventory record inaccuracy, we determine the cost thresholds at which RFID adoption becomes profitable. We show that a decentralized supply chain benefits more from RFID technology, such that RFID adoption improves supply chain coordination.     

The Sources of Belief in Personal Capability: Antecedents of Self-Efficacy in Private Adaptation to Flood Risk

Self-efficacy is one of the strongest and most consistent drivers of private flood mitigation behavior; however, the factors influencing self-efficacy in the context of flooding remain unclear. The present study examines three potential antecedents of self-efficacy: personal and vicarious experiences of floods or building-related events, social norms for private flood preparedness, and personal competencies such as technical abilities and social skills. While controlling for other drivers in a protection motivation theory (PMT) framework, these antecedents are tested as precursors of self-efficacy and intentions to improve flood resilience. Structural equation modeling is applied to conduct mediation analyses with survey data of 381 flood-prone households in Austria. Contrary to theoretical expectations, personal and vicarious experiences do not predict self-efficacy, presumably because rare flood events and changing hazard characteristics do not facilitate generalizable performance accomplishments. Social norms strongly and consistently influence self-efficacy, especially for actions observable by others, and also directly influence protective responses. Personal competencies increase self-efficacy and support protective action, particularly with regard to preventive and structural measures. The strength and direction of the antecedents of self-efficacy as well as of other PMT determinants vary between general and specific protective responses. This study provides important insights for risk managers, suggesting that interventions involving social norms and personal competencies can be effective in stimulating self-efficacy and, in turn, private flood mitigation. Interventions and research should clearly differentiate between general intention and the implementation of specific measures, and should address cumulative, synergistic, or tradeoff interrelations between multiple measures.     

Multi-level Monte Carlo methods for the approximation of invariant measures of stochastic differential equations

We develop a framework that allows the use of the multi-level Monte Carlo (MLMC) methodology (Giles in Acta Numer. 24:259–328, 2015. https://doi.org/10.1017/S096249291500001X) to calculate expectations with respect to the invariant measure of an ergodic SDE. In that context, we study the (over-damped) Langevin equations with a strongly concave potential. We show that when appropriate contracting couplings for the numerical integrators are available, one can obtain a uniform-in-time estimate of the MLMC variance in contrast to the majority of the results in the MLMC literature. As a consequence, a root mean square error of $$\mathcal {O}(\varepsilon )$$ is achieved with $$\mathcal {O}(\varepsilon ^{-2})$$ complexity on par with Markov Chain Monte Carlo (MCMC) methods, which, however, can be computationally intensive when applied to large datasets. Finally, we present a multi-level version of the recently introduced stochastic gradient Langevin dynamics method (Welling and Teh, in: Proceedings of the 28th ICML, 2011) built for large datasets applications. We show that this is the first stochastic gradient MCMC method with complexity $$\mathcal {O}(\varepsilon ^{-2}|\log {\varepsilon }|^{3})$$, in contrast to the complexity $$\mathcal {O}(\varepsilon ^{-3})$$ of currently available methods. Numerical experiments confirm our theoretical findings.     

‘We feel the responsibility that you shirk’: movement institutionalization,the politics of responsibility and the case of the Swedish environmental movement

This article provides directions for advancing the conceptualization of the relationship between social movements and institutionalization, based on a case study of the Swedish environmental movement strategies. We argue that the concepts of (de)responsibilization and (de)politicization provide tools for an improved analysis of the dynamics of how social movements interact both with established political institutions and corporations in a new context. The introduction of new regulatory frameworks in environmental politics has shaped interaction between social movements and the state in new ways, involving neoliberal responsibilization, meaning active involvement by civil society and business in political responsibilities previously associated with state agencies – a development involving an increasing emphasis on market mechanisms. We argue that this has involved a de-politicization of environmental issues in the sense that it engages political actors in a moral discourse and a technocratic practice that suppresses the (potential) articulation of social conflict through consensus building. However, we also show how movement actors resist the discourse that encourages them to take on certain responsibilities, thus engaging in a politics of responsibility. Empirically, we demonstrate how the changing strategies of the Swedish environmental movement in the 2000s need to be understood in relation to the following processes, indicating that the Swedish case has a general relevance for an understanding of the contemporary environmental movement globally: (1) the transformation of the Swedish model of welfare capitalism under the influence of neoliberal discourse; (2) international environmental policy developments, most importantly the emergence of climate change as a dominant issue globally.     

DIFFERENCES IN CITATION PATTERNS ACROSS JOURNAL TIERS: THE CASE OF ECONOMICS

We study how citation patterns differ between journal tiers in economics by analyzing citations patterns of more than 6,000 research articles published in top five, second tier, and top field economics journals. We find that top five journals' articles receive more citations and that the life cycles of those citations are longer. However, their influence (in term of citations) is overestimated: in its first twenty years since publication, the median top five article accumulates 4.25 as many citations when compared to non-top five median articles. This ratio is strongly associated with the field of economics research and with articles' impact. (JEL A14)