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Market System (market + system)

Distribution by Scientific Domains

Humanities and Social Sciences	50%

Selected Abstracts

Toward a National Market System for U.S. Exchange,listed Equity Options

THE JOURNAL OF FINANCE, Issue 2 2004
Robert Battalio
ABSTRACT In its response to the 1975 Congressional mandate to implement a national market system for financial securities, the Securities and Exchange Commission (SEC) initially exempted the option market. Recent dramatic changes in the structure of the option market prompted the SEC to revisit this issue. We examine a sample of actively traded, multiply listed equity options to ask whether this market's characteristics appear consistent with the goals of producing economically efficient transactions and facilitating "best execution." We find marked changes between June 2000, when quotes are often ignored, and January 2002, when the market more closely resembles a national market. [source]

The Politics of Disciplining Water Rights

DEVELOPMENT AND CHANGE, Issue 2 2009
Rutgerd Boelens
ABSTRACT This article examines how the legal systems of Andean countries have dealt with the region's huge plurality of local water rights, and how official policies to ,recognize' local rights and identities harbour increasingly subtle politics of codification, confinement and disciplining. The autonomy and diversity of local water rights are a major hindrance for water companies, elites and formal rule-enforcers, since State and market institutions require a predictable, uniform playing field. Complex local rights orders are seen as irrational, ill-defined and disordered. Officialdom cannot simply ignore or oppress the ,unruliness and disobedience' of local rights systems: rather it ,incorporates' local normative orders that have the capacity to adequately respond to context-based needs. This article examines a number of evolving, overlapping legal domination strategies, such as the ,marrying' of local and official legal systems in ways that do not challenge the legal and power hierarchy; and reviews the ways in which official regulation and legal strategies deny or take into consideration local water rights repertoires, and the politics of recognition that these entail. Post-colonial recognition policies are not simply responses to demands by subjugated groups for greater autonomy. Rather, they facilitate the water bureaucracy's political control and help neoliberal sectors to incorporate local water users' rights and organizations into the market system , even though many communities refuse to accept these policies of recognition and politics of containment. [source]

Five Feuds: An Analysis of Homicides in Eastern Kentucky in the Late Nineteenth Century

AMERICAN ANTHROPOLOGIST, Issue 2 2000
Keith F. Otterbein
Kentucky feuds are an example of market-based feuding, one of two major types of feuding. Compensation is not paid for a homicide in regions where a local market system is linked to the world system. Feuding kinship groups in Kentucky struggle to eliminate each other, whereas in regions where compensation is paid functional/equilibrium theories are used to explain the balance that seems to occur between kinship groups. The trouble case method is used to analyze five Kentucky feuds. Episodes or homicidal encounters are placed within feud sequences. Encounters include ambushes, gunfights, house attacks, encounter battles, and arranged battles. Although each feud differs greatly from the others, the structure of the Kentucky feud is delineated, [feuding, homicide, Kentucky feuds, Appalachia, war] [source]

Market Uncertainty and Socially Embedded Reputation

AMERICAN JOURNAL OF ECONOMICS AND SOCIOLOGY, Issue 3 2009
Harris H. Kim
Both economists and sociologists generally recognize the importance of reputation in coordinating economic transactions. In a perfectly competitive and anonymous market characterized by faceless buyers and sellers, the issue of reputation would be irrelevant and unnecessary. In reality, however, markets are often filled with varying degrees of information asymmetry, which can threaten the very existence of the market system itself. In critical reaction to the standard neoclassical model, some economists, on the one hand, argue that when there is an information problem, reputation serves as a valuable source of market signal of quality. Sociologists of economic life similarly contend that reputation, along with trust, is critical in lowering transaction costs and thereby facilitating various economic activities among individual actors. The purpose of this article is to apply this broad theoretical observation to a specific empirical phenomenon. It does so by highlighting the role of social networks that connect actors on both demand and supply sides of the market. Specifically, this study examines how interpersonal networks in the market for legal services affect the duration of ties between buyers and sellers. Quantitative analysis based on a random sample of Chicago lawyers, a project funded by the American Bar Foundation, reveals that ceteris paribus the lawyer-client relations are significantly driven by social network factors. [source]

Social inequality in premature mortality among polish urban adults during economic transition

AMERICAN JOURNAL OF HUMAN BIOLOGY, Issue 6 2007
Halina Ko, odziej
Rates of premature mortality among adults are important measures of the economic and psychosocial well-being of human populations. In many countries, such rates are, as a rule, inversely related to the level of attained education. We examined changes in educational group-specific mortality rates among urban adults in Poland during the country's rapid transition in the 1990s from a socialist command economy to a free market system. Two census-based analyses of individual death records of urban dwellers aged 35,64 years were compared. We utilized all records of death, which occurred during the 2-year periods 1988,89 and 2001,02. Population denominators were taken from the censuses of 1988 and 2002. The age-specific mortality rates were used to evaluate absolute differences in mortality. To assess relative differences between educational levels, mortality rate ratios (MRRs) with 95% CI (confidence interval) were calculated using Poisson regression. A regular educational gradient in mortality persisted in each 10-year age group throughout the period covered by our data. Moreover, age-specific mortality rates declined steadily in all educational groups, and this decline was most marked in the two oldest age groups (45,54 and 55,64 years). The trend was accompanied by widening of educational differences in mortality as expressed by MRRs. Systemic political transformation in Poland has brought a mixture of beneficial and detrimental effects on the well-being of society. With regard to the changes in rates of premature mortality among adults, the benefits have prevailed, although individuals with the lowest educational level benefited less than those with the highest education. Am. J. Hum. Biol., 2007. © 2007 Wiley-Liss, Inc. [source]

Toward a National Market System for U.S. Exchange,listed Equity Options

Impact of Supermarkets and Fast,Food Chains on Horticulture Supply Chains in Argentina

DEVELOPMENT POLICY REVIEW, Issue 4 2002
Graciela Ghezán
In the 1990s, the supermarket and fast,food sectors grew rapidly in Argentina. Both were dominated by multinational firms, and their growth drove profound change in food market systems and farming. This article analyses the impact of this development on fruit and vegetables supply chains, in particular the way the advent of McDonald's affected the supply chain for frozen French fried potatoes. It shows that there is a tendency for such changes to favour medium and large producers, with evidence of the exclusion of small farmers. [source]

Beschichtungen auf direkt befahrenen Tiefgaragenbodenflächen von Weißen Wannen.

BETON- UND STAHLBETONBAU, Issue 7 2006
Physikalische Beanspruchungen, Planungsgrundlagen, alternative Beschichtungsvarianten
Nach DIN 1045-1 müssen direkt befahrene Parkdecks mit zusätzlichen Maßnahmen ausgeführt werden, zu denen man unter anderem rißüberbrückende Beschichtungen mindestens der Klasse OS 11 nach Instandsetzungsrichtlinie des DAfStb zählt. Die auf dem Markt verfügbaren rißüberbrückenden Beschichtungssysteme mit Allgemeinem bauaufsichtlichem Prüfzeugnis sind für die Beschichtung von Betonoberflächen mit extremen Wassergehalten (Wassersättigungsgrade bis 90 %), wie sie häufig in Bodenplatten Weißer Wannen vorkommen, nicht geeignet. Schadensfälle aus der Baupraxis zeigen, daß gelegentlich an eignungsgeprüften OS-11-Systemen osmotisch induzierte Blasenerscheinungen, vorzugsweise bei rückseitig durchfeuchteten Bodenplatten wasserundurchlässiger Tiefgaragengeschosse, auftreten. Daher werden die physikalischen Beanspruchungen der Beschichtung (osmotische Transportvorgänge, Kapillardrücke, hydrostatische Drücke und Gasdrücke) quantitativ abgeschätzt und dem Leistungsvermögen (Beanspruchbarkeit) der marktüblichen Systeme gegenübergestellt sowie alternative Beschichtungsvarianten vorgestellt. Ferner werden baupraktische Empfehlungen zur Vermeidung von Beschichtungsschäden erläutert. Coatings on directly vehicle-carrying floor slabs of watertight concrete constructions in underground carparks physical stresses , design codes , alternative coating systems According to DIN 1045-1 directly vehicle-carrying park decks have to be realized with additional measures (crack-bridging coating systems). At least surface protection system 11 (SPS 11) according to the Guidelines for the Protection and Repair of Concrete Components of the German Committee on Reinforced Concrete (DAfStb) are among others a possibility to meet this requirement. On the market available crack-bridging coating systems with a general technical approval are not usefull on concrete surfaces with high water contents (water saturation values of 90 %) as they may occur in floor slabs of watertight concrete constructions. Experiences with practical damage cases show, that with approved SPS 11-systems osmotic induced bubbles may occur preferably on backside saturated floor slabs of watertight concrete constructions. In consequence the physical stresses of a coating (osmotic processes, capillarity reactions, hydraulic pressures as well as gas pressures) will be quantitatively estimated and compared with the capability of market systems. Alternative coating systems are presented and practical recommendations in order to avoid damages are given. [source]