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The overall objective of this chapter is measuring the effect of key economic indicators and trends on the media reputation of an emergent country. The case analyzed is that of Chile, since 1990–2015. To deal with our objective, we measured the media reputation of Chile following validated criteria by Deephouse (2000).

A regression analysis was conducted to test our hypothesis that the coefficient of media favorableness (CoMF) of a country depends on the favorable or unfavorable trend of key economic indicators of the country. The dependent variable of our model was the Chilean CoMF. Independent variables were the monthly GDP variation, the monthly unemployment rate, the monthly average of the stock exchange index, the monthly average fuel price, and the monthly average copper price (a very important commodity to Chile).

Our results demonstrate that key economic indicators have a significant positive bearing on the media reputation of an emergent country as Chile, that is, when an emergent country is doing well economically, the press with a global scope tends to improve the reputation of that country, showing a more favorable image about it. In consequence, our hypothesis is supported. In the case of an emergent and small Western country as Chile, the price of commodities appears as the most important predictive indicator of its favorable or unfavorable country reputation. Other implications are discussed in the study.

This study aims to validate the “expectancy theory” of asset pricing and explores the price discovery process in metals futures markets.

This paper adopts the Johansen cointegration and vector error correction model approach to investigate the potentials of Pairs trading in the metals market during the period 2008–2019.

The results find the price movements in metal markets are not random walk and the current “futures” prices are the reasonable estimate of the “spot” metal prices in future. This study does not notice any significant differences in the price efficiency across metals markets, which signal the effects of limited idiosyncratic forces in price transmission.

The research suggests the covert use of metal futures to make gains from arbitrage trading.

The study emphasizes the potential of “pair trading” in commodity market context that is seldom discussed in academic papers.

The purpose of this paper is to propose a combination of forecasting methods that enables a holistic understanding of a future situation, given certain influencing variables by a combination of real data and expert knowledge.

The proposal combines two well-known methods: first, system archetypes that correspond to generic structures, allowing us to handle model management issues, and second, system dynamics that offers technical support on a computational level to assess different scenarios or problem solutions.

The case study considers the situation of the mining industry in Chile and its related variables, including four different scenarios. Based on the proposed methodology, the results indicate that: first, the price of copper is paramount for the industry and its effects are not limited to company profits; second, a long period of downfall in copper prices could halt exploration and development projects.

Systemic archetypes are still a subject of research and their application in different fields of knowledge continues to increase to improve this simulation approach.

The case study illustrates the combination of a Vester matrix and initial system archetype models that are enriched using the system dynamics approach. Indeed, the case study aims to understand the consequences of different scenarios based on the problem-driven approach provided by Vester.

The goal of prospective studies of large-scale and complex situations is to model the real situation to obtain solutions that may enhance social welfare.

The proposed methodology contributes to the existing literature by integrating techniques such as the Vester matrix, system archetype modelling and system dynamics simulation, all of which were proposed previously in the literature as independent techniques.

Este artículo propone una combinación de métodos de pronósticos que permite una comprensión holística de una situación futura, dadas ciertas variables de influencia mediante una combinación de datos reales y conocimiento de expertos.

La propuesta combina dos métodos conocidos: (i) arquetipos de sistemas que corresponden a estructuras genéricas, lo que nos permite manejar los modelos, y (ii) la dinámica de sistemas que ofrece soporte técnico a nivel computacional para evaluar diferentes escenarios o soluciones de problemas.

El caso de estudio considera la situación de la industria minera en Chile y sus variables relacionadas, incluidos cuatro escenarios diferentes. Según la metodología propuesta, los resultados indican que i) el precio del cobre es primordial para la industria y sus efectos no se limitan a las ganancias de la empresa; ii) un largo período de caída en los precios del cobre podría detener los proyectos de exploración y desarrollo.

Los arquetipos sistémicos siguen siendo un tema de investigación y su aplicación en diferentes campos del conocimiento continúa aumentando para mejorar este enfoque de simulación.

El estudio de caso ilustra la combinación de una matriz de Vester y los modelos de arquetipos del sistema inicial que se enriquecen utilizando el enfoque de dinámica de sistemas. De hecho, el caso de estudio apunta a comprender las consecuencias de diferentes escenarios basados en el enfoque orientado a los problemas proporcionado por Vester.

El objetivo de los estudios prospectivos para situaciones de gran escala y complejas es modelar la situación real para obtener soluciones que puedan mejorar el bienestar social.

La metodología propuesta contribuye a la literatura existente mediante la integración de técnicas como la matriz de Vester, el modelado de arquetipos del sistema y la simulación de dinámica de sistemas, todo lo cual se propuso anteriormente en la literatura como técnicas independientes.

Many jurisdictions fine illegal cartels using penalty guidelines that presume an arbitrary 10% overcharge. This article surveys more than 700 published economic studies and judicial decisions that contain 2,041 quantitative estimates of overcharges of hard-core cartels. The primary findings are: (1) the median average long-run overcharge for all types of cartels over all time periods is 23.0%; (2) the mean average is at least 49%; (3) overcharges reached their zenith in 1891–1945 and have trended downward ever since; (4) 6% of the cartel episodes are zero; (5) median overcharges of international-membership cartels are 38% higher than those of domestic cartels; (6) convicted cartels are on average 19% more effective at raising prices as unpunished cartels; (7) bid-rigging conduct displays 25% lower markups than price-fixing cartels; (8) contemporary cartels targeted by class actions have higher overcharges; and (9) when cartels operate at peak effectiveness, price changes are 60–80% higher than the whole episode. Historical penalty guidelines aimed at optimally deterring cartels are likely to be too low.

The world financial market is facing another blow. Sumitomo, one of Japan's most conservatively managed companies and the world's largest copper trader, admitted it had lost an estimated $1.8bn (£1.2bn) in unauthorised copper dealings over the past ten years.