Excluded by crisis management? Legislative hyperactivity in post-2015 Germany

This article examines the legislative measures taken by Germany since 2014 to manage the “refugee crisis” and analyses the potential effects on the rights and the well-being of asylum seekers and persons with protection needs at large. By taking a closer look at the reasoning given in the respective legislative documents we will show the link between the recent changes in the national asylum and migration law and the underlying migration management framework. The article concludes that Germany has seen a shift from a management to a securitization approach, the latter entailing a special emphasis on deportation (“return turn”) rather than focusing on accommodation and integration of those seeking protection. Acting in a mere “crisis mode”, the German legislator has implemented an exclusion paradigm that incrementally substituted the prior inclusive policies over time.     

Stock Evaluation Using a Preference Disaggregation Methodology

This paper presents a real application of a multicriteria decision aid (MCDA) approach to portfolio selection based on preference disaggregation, using ordinal regression and linear programming (UTADIS method; UTilités Additives DIScriminantes). The additive utility functions that are derived through this approach have the extrapolation ability that any new alternative (share) can be easily evaluated and classified into one of several user-predefined groups. The procedure is illustrated with a case study of 98 stocks from the Athens stock exchange, using 15 criteria. The results are encouraging, indicating that the proposed methodology could be used as a tool for the analysis of the portfolio managers' preferences and choices. Furthermore, the comparison with multiple discriminant analysis (either using a stepwise procedure or not) illustrates the superiority of the proposed methodology over a well-known multivariate statistical technique that has been extensively used to study financial decision-making problems.