Asymptotic Likelihood Based Inference for Co-integrated Homogenous Gaussian Diffusions

In this paper we consider inference for a multivariate Gaussian homogenous diffusion which is co-integrated, i.e. admits a representation in terms of stable relations (ergodic diffusions) plus Brownian motions. We show that inference on co-integration rank (the number of stable relations) in continuous time can be based on existing asymptotic distributions from discrete time co-integration analysis. Likewise the asymptotic distributions of the co-integration parameters are shown to be mixed Gaussian. Special attention is given to the parametrization of the drift terms. It is shown that the asymptotic distribution of the co-integration rank test statistic does not depend on the level of the process as a result of the chosen parametrization.     

The pornographer's trade: A discredited professional group's rhetoric,control and know-how

This article deals with the professionalization since 1975 of heterosexual pornography in France. Although pornography is discredited by the public authorities and lacks for any sort of formal training, pornographers have developed an occupational rhetoric whereby they present themselves as fantasy entrepreneurs, claim sexual expertise and control a male heterosexual business. The limits of sexual and gender identities are presented by them as natural, and the professionalization of pornography relies on a differential distribution of the know-how underlying a sex-based division of labor. The professionalization of sexuality involves not only efforts at making pornography a legitimate occupation but also the appropriation by men of sexual know-how and knowledge. What defines pornographers’ work is not only the fact they put consumers’ fantasies into images but also the male control of female sexuality.     

On the likelihood of dummy players in weighted majority games

When the number of players is small in a weighted majority voting game, it can occur that one of the players has no influence on the result of the vote, in spite of a strictly positive weight. Such a player is called a “dummy” player in game theory. The purpose of this paper is to investigate the conditions that give rise to such a phenomenon and to compute its likelihood. It is shown that the probability of having a dummy player is surprisingly high and some paradoxical results are observed.     

Le métier de pornographe : rhétorique, contrôle et savoirs d’un groupe professionnel discrédité

This article deals with the professionalization of heterosexual pornography in France since 1975. Although pornography is discredited by public authorities and lacks any institutionalized training programs, pornographers have developed an occupational rhetoric whereby they present themselves as the entrepreneurs of fantasy, claim sexual expertise and control a masculine, heterosexual business. They present the boundaries of sexual and gender identities as natural, and the professionalization of pornography relies on a differential distribution of the know-how underlying a sex-based division of labor. This professionalization of sexuality involves not only a work of legitimation for turning sex into a subject matter for pornography but also an appropriation by men of sexual know-how and knowledge. What defines the job of pornographers is not only the turning of consumers’ fantasies into images but also male control over female sexuality.     

La clôture comme seule protection ? Syndicats du spectacle et marché du travail dans l’entre-deux-guerres (1919-1937)

The case of performers in the entertainment industry during the period between the two World wars serves to test the hypothesis of a monopolistic closure, as workers try to improve their lot by restricting access to the labor market. In line with the predictions of this hypothesis in the sociology of professions, actors and singers did try to close the labor market by instituting a “professional card”. Contrary to expectations however, labor organizations of musicians sought to control pay scales and jobs by opening the market so widely that anyone entering it joined the organization. These two different strategies affected these groups’ identities by drawing legitimate boundaries and influencing the nature and degree of solidarity. Beyond these strategies, two prospects for emancipation contrast with each other: the professional one of an exclusive group among performing artists on stage and in song, and the wage-earning one of an inclusive group among musicians.     

Closing the market as the only protection? Trade unions and the labor market in the French performing arts industry from 1919 to 1937

The case of trade unions in the French performing arts industry between the two World Wars will serve here to test the hypothesis advanced in the Sociology of Professions and Theory of closed Labor Market whereby workers seek to improve their chances by attempting to limit its access. In line with that hypothesis, lyrical and dramatic actors tried to control the market, in particular by making it compulsory to hold a professional license. Contrary to what the theory proclaims, however, musicians’ trade unions sought to control wages and employment by implementing a strategy of maximum receptivity, i.e. by accepting anyone who entered the market. The article shows how those different strategies molded group identities, by tracing the borders of legitimacy and influencing the nature and extent of solidarities that cropped up in the milieu. Beyond the divergent strategies, two contrasting prospects of emancipation emerge from this study: emancipation as professionals for an elitist and exclusive group of actors and opera singers, emancipation as wage-earners for an inclusive, non-elitist group of musicians.     

Reining in excessive risk-taking by executives: the effect of accountability

Performance-contingent compensation by means of stock options may induce risk-taking in agents that is excessive from the point of view of the company or the shareholders. We test whether increasing shareholder control may be an effective checking mechanism to rein in such excessive risk-taking. We thus tell one group of experimental CEOs that they may have to justify their decision-making processes in front of their shareholders. This indeed reduces risk-taking and increases the performance of the companies they manage. Implications are discussed.     

Adolescents' beliefs about marijuana use: a comparison of regular users, past users and never/occasional users

A questionnaire investigating adolescents' opinions and experiences regarding marijuana use was administered to 163 adolescents and young adults (96 boys and 67 girls) aged 13 to 20 (mean age = 16.8, s.d. = 1.5). Items referred to marijuana and other substances' dangerousness, representations regarding the positive and negative consequences of marijuana use. Responses were compared according to marijuana use status (classified into never/occasional use, current regular use and past regular use). Results show that adolescents' opinions differ according to their experience with marijuana use. Current regular users evaluate marijuana as less dangerous, but alcohol and heroin as more dangerous in comparison with never/occasional and past users. Current and past users are more likely to define marijuana as a medical drug and a plant used in agriculture, and less likely to define it as an illegal drug. Current and past users evaluate marijuana use as a way to cope with stress, to relax to a greater extent than do never/occasional users do. The latter attribute more negative consequences to marijuana use such as diminished driving ability and school performance and a pathway to hard drugs.