Interaktion des <Emphasis Type="Italic">als ob</Emphasis>: Privatanleger und Anlageberater

Since the late nineties, stock market investments have become an attractive option for many who want to secure or improve their standard of living, although ?stocks“ are an obscure subject for most of them. They have to rely on investment consultants in banks. Until the stock market crash, there was no reason to complain about the consulting process — shares kept going up in value.But it is remarkable that following the crash, which caused many investors to lose a large amount of money, the relationship between private investors and investment consultants does not seem to have been damaged.In our paper we first show the legal requirements for investment consulting and how these requirements are implemented by banks, and we identify considerable discrepancies between the theoretical and the actual fulfillment of these legal requirements.We then show that it is impossible to meet these requirements in reality because they rely on unrealistic assumptions regarding a consulting process that both adequately covers investment options and addresses the needs of investors. We argue that both sides are more or less satisfied with the situation because they operate on an as if basis: consultant and client talk and behave as if they understood each other.As if the consultant had really informed the client and as if the client had really understood the consultant. This as if which both parties are aware of but which is not openly discussed is the condition of a successful consultancy process and for making the business happen.     

Social Origins of Civil Society: Explaining the Nonprofit Sector Cross-Nationally

Recent research has usefully documented the contribution that nonprofit organizations make to social capital and to the economic and political development it seems to foster. Because of a gross lack of basic comparative data, however, the question of what it is that allows such organizations to develop remains far from settled. This article seeks to remedy this by testing five existing theories of the nonprofit sector against data assembled on eight countries as part of the Johns Hopkins Comparative Nonprofit Sector Project. The five theories are: (a) government failure/market failure theory; (b) supply-side theory; (c) trust theories; (d) welfare state theory; and (e) interdependence theory. The article finds none of these theories adequate to explain the variations among countries in either the size, the composition, or the financing of the nonprofit sector. On this basis it suggests a new theoretical approach to explaining patterns of nonprofit development among countries—the social origins approach—which focuses on broader social, political, and economic relationships. Using this theory, the article identifies four routes of third-sector development (the liberal, the social democratic, the corporatist, and the statist), each associated with a particular constellation of class relationships and pattern of state-society relations. The article then tests this theory against the eight-country data and finds that it helps make sense of anomalies left unexplained by the prevailing theories.     

Order-picking in deep cold--physiological responses of younger and older females. Part 1: heart rate

The sales figures of chilled and frozen food have been rising steadily over the years. Naturally, this has also led to an increase in the number of jobs related to these goods. While these workplaces are becoming more and more important there are, nevertheless, only a few investigations into the effects of working in deep cold on humans. Order-picking in a cold environment represents a high workload. Especially working at -24°C with wearing heavy cold protective clothing leads to explicitly higher strain. Since performance decreases with age, varying physical strain between younger and older employees can hypothetically be expected. In order to quantify the physiological responses to working in the cold, 15 subjects of two female age groups, each, (20- to 35-year-olds and 40- to 65-year-olds) were asked to carry out whole working day tasks in a chill room (+3°) and in a cold store (-24°C). Simultaneously, heart rate and other physiological relevant parameters were measured.     

Interpersonal trust and voluntary associations: examining three approaches

The relationship between interpersonal trust and membership in voluntary associations is a persistent research finding in sociology. What is more, the notion of trust has become a central issue in current social science theorizing covering such diverse approaches as transaction costs economics or cognitive sociology. In different ways and for different purposes, these approaches address the role of voluntary organizations, although, as this paper argues, much of this thinking remains sketchy and underdeveloped. Against an empirical portrait of this relationship, the purpose of this paper is to assess such theorizing. We first set out to explicate major approaches to trust in economics, sociology and political science, using the non-profit or voluntary organization as a focal point. We then examine the various approaches in terms of their strengths and weaknesses, and, finally, identify key areas for theoretical development. In particular, we point to the social movement literature, the social psychology of trust, and recent thinking about civil society.     

Changes in Population,Affluence, and Environmental Pressures During Industrialization: The Case of Austria 1830–1995

This paper relates changes in aggregate population, affluence (measured as GDP), and indicators for environmental pressures, the latter being based upon the socioeconomic metabolism concept, for Austria from 1830 to 1995. During this period of time Austria underwent a transition from a predominantly agricultural mode of substistence to an industrial economy. The Austrian population increased by a factor of 2.3, total GDP by a factor of 28.2 and per capita GDP by a factor of 12.2. Environmental indicators change by factors of between 0.85 and over 1000. In general we find that although efficiencies (environmental pressure per unit of GDP) increased dramatically, total environmental pressures increased considerably for most indicators, except for those that are related to an agricultural mode of subsistence. Our results indicate that environmental policies that aim to reduce the environmental pressure per unit of GDP (i.e., increase ecological efficiency) are not likely to be sufficient for sustainable development because efficiency gains are more than compensated for by increases in affluence. Instead, sustainability policy should focus on reducing total environmental pressures.     

The cost of not knowing the radius

Robust Statistics considers the quality of statistical decisions in the presence of deviations from the ideal model, where deviations are modelled by neighborhoods of a certain size about the ideal model. We introduce a new concept of optimality (radius-minimaxity) if this size or radius is not precisely known: for this notion, we determine the increase of the maximum risk over the minimax risk in the case that the optimally robust estimator for the false neighborhood radius is used. The maximum increase of the relative risk is minimized in the case that the radius is known only to belong to some interval [r _l ,r _u ]. We pursue this minmax approach for a number of ideal models and a variety of neighborhoods. Also, the effect of increasing parameter dimension is studied for these models. The minimax increase of relative risk in case the radius is completely unknown, compared with that of the most robust procedure, is 18.1% versus 57.1% and 50.5% versus 172.1% for one-dimensional location and scale, respectively, and less than 1/3 in other typical contamination models. In most models considered so far, the radius needs to be specified only up to a factor , in order to keep the increase of relative risk below 12.5%, provided that the radius–minimax robust estimator is employed. The least favorable radii leading to the radius–minimax estimators turn out small: 5–6% contamination, at sample size 100.