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Market Therapy? On Intervention in the Consociation with Non‐members
No full textInternational audienceWhile the majority of market interventions is concerned with market interventions that are good for particular market participants, this article is interested in interventions that are good for markets. We draw on observations of historical markets as presented by Hamilton Grierson and Max Weber to rediscover markets as forms of communication that systematically transcend the ambitions and influence of the individual market participants. We show that this non‐possessive concept of markets cancels established definitions of market failure and corresponding justifications of market interventions. We then imagine market intervention strategies that account for rather than problematize the double‐contingent nature of markets and outline systemic intervention strategies that emerge if we observe markets in the medium of the health system rather than in the medium of the economy. Copyright © 2016 John Wiley & Sons, Ltd
Is the future a political economy? Functional analysis of three leading foresight and futures studies journals
No full textInternational audienceThis article tests whether the field of foresight and futures studies shows significant variable selection biases in the modelling of the future in general and the impact of function systems in particular. We performed a word frequency analysis to measure the relative importance of the political system, the economy, science, art, religion, law, sport, health, education, and the mass media to three pertinent journals in the field of futures studies and foresight. The results show that Futures, Long Range Planning, and Technological Forecasting and Social Change have different and changing preferences for the above function systems, an information which authors may find helpful in supporting decisions on where to submit. Our results also show that all journals feature a highly significant bias to the triple helix systems – the political system, the economy, and science. While the latter bias may be adequate to scientific journals, the dominant focus on the political system and the economy as well as the corresponding neglect of the other systems points at implicit presumptions about the importance of the individual systems that may not be in line with their importance to the larger society. Highlights: This article • Shows that present visions of futures are predominantly visions of political economies, and how to change this. • Suggests that solutions to future political and economic key problems might also be in the so-far neglected further function systems. • Proposes a new systematic set of key variables for consideration and inclusion in models and simulations of futures
The cash is in the medium, not in the machine: Toward the golden moments of 3D printing
No full textInternational audience3D printing technology has been available as early as in the 19th century. The present article therefore asks why the probably disruptive innovation of 3D printing has been observed as only incremental innovation for so long time. We assume that this incrementalization of the supposed key to the next industrial revolution occurred due to the technologys paradox nature. We hence start form a form-theoretical observation of the inherently paradox nature of observation, subsequent to which we observe 3D printing as both form and medium. In doing so, we will show that suppliers of 3D printing solutions currently try to sell 3D printing as form, whereas demanders observe 3D printing as medium. In focussing the latter side of the distinction, we finally suggest that the key to successful 3D printing business models will be in solutions that relate observations of the technological multifunctionality of 3D printing to a social multifunctionality lens
The Ludic Drive as Innovation Driver: Introduction to the Gamification of Innovation
No full textInternational audienceGamification has recently been receiving increased attention in corporate innovation and business research alike. In this article, we first outline the main streams of research on gamification in the creativity and innovation literature. We then introduce the selection of contributions to this special section by theoretically embedding them in their application contexts. Thus, referring to research fields as different as business model innovation, design thinking and crowdsourcing, we indicate theoretical challenges for future research on gamification, among the most important of which we count theoretical approaches to the question of whether and how organizations actually can play with persons
Practitioners’ perceptions of advertising strategies for digital media
No full textInternational audienceDigital advertising is set to become a serious challenger within the rapidly changing media landscape. Today there are concerns that advertising strategies based on models and experiences developed with traditional media may need to be reviewed in the digital market. To provide insights into how online advertising strategies might need modification, 21 in-depth interviews were conducted across organisations representing key stakeholders in the digital advertising market. findings identified five key trends relevant to advertisers including: a move towards permission-based advertising; higher levels of personalised advertisements; more three screen advertising campaigns; increased levels of interactivity and the development of performance-based metrics. In the context of these trends, nine propositions are posited concerning the effective formulation and management of digital advertising strategies
The impact of failure, repair and joint imbalance of processing time means & buffer sizes on the performance of unpaced production lines
No full textInternational audience"This article studies the performance of unpaced serial production lines that are subject to breakdown and are imbalanced in terms of both of their processing time means (MTs) and buffer storage capacities (BCs). Simulation results show that the best pattern in terms of throughput is a balanced line With respect to average buffer level; the best configuration is a monotone decreasing MT order, together with an ascending BC arrangement. Statistical analysis shows that BC, combined patterns of MT and BC imbalance, line length and degree of imbalance all contribute significantly to performance. [...]" Sabry Shaaban, Tom McNamara and Sarah Hudso
Behavioral influences in non-ferrous metals prices
No full textInternational audienceRecent research has identified the presence of behavioral influences on traders in predominantly professionally traded markets such as oil, gold, and foreign exchange. Previous research had largely confined behavioral-based investigations to equity markets due to an assumption that noise traders would drive any influence and these traders were mainly absent from the professionally traded markets. This paper extends this research to the non-ferrous metals markets and demonstrates similar influences on prices. It is shown that psychological price barriers, where there is predictable trading patterns around psychologically important price points, are important
The effect of reducing quantitative easing on emerging markets
No full textInternational audienceOn 22 May and 19 June 2013, the US Federal Reserve (Fed) announced a reduction in the asset purchase programme of its quantitative easing policy. This article investigates the impact of this news on the currencies of emerging markets. Using event study methodology, our results report a global significant depreciation in the currencies of all emerging markets in our sample, but with different depreciation sizes from one market to another. To test whether the depreciation in currencies is driven by capital flow components, a regression analysis is performed. Inward FDI as well as outward FDI appear to have more explanatory power than inward and outward portfolio investment in explaining the impact. With the slowdown in asset purchases by the Fed, emerging countries have incurred large capital outflows from their markets to the US market, resulting in a drop in their currencies
Violations of Uncovered Interest Rate Parity and International Exchange Rate Dependences
No full textInternational audienceThe uncovered interest rate parity puzzle questions the economic relation existing between short term interest rate differentials and exchange rates. One would indeed expect that the differential of interest rates between two countries should be offset by an opposite evolution of the exchange rate between them, hence ruling out any limited risk profit opportunities. However, it has been shown empirically that this relation is not holding and accordingly has led, over the past two decades, to the reinforcement of a well-known trading strategy in financial markets, namely the currency carry trade. This paper investigates how highly leveraged, mass speculator behaviour affects the dependence structure of currency returns. We propose a rigorous statistical modelling approach using two complementary techniques in order to demonstrate that speculative carry trade volumes are informative in both the covariance and tail dependence of high and low interest rate currency returns, whereas the price based factors previously suggested in the literature hold little explanatory power. We add a new feature to the understanding of the link between the UIP condition and the carry trade strategy, specifically attributed to the large joint exchange rate movements in high and low risk environments