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Article
Publication date: 21 September 2009

Daniel Mulino, Richard Scheelings, Robert Brooks and Robert Faff

An aspect of prospect theory posits that decision‐makers, when making decisions in the face of risk, make their decisions with respect to a pre‐existing reference point or…

Abstract

An aspect of prospect theory posits that decision‐makers, when making decisions in the face of risk, make their decisions with respect to a pre‐existing reference point or ‘frame’ (the statusquo bias). We utilize data from the Australian version of the TV game show, Deal or No Deal, to explore whether risk aversion varies with a change in reference point in a context where stakes are real and high.We achieve this by exploiting a special and unique Australian feature of the Deal or No Deal lottery‐choice setting, namely, the existence of the Chance or the SuperCase rounds (supplementary rounds). These rounds reverse the decision‐frame that was obtained in earlier (normal) rounds. We fit and estimate a complete dynamic decision‐making model to our dataset and find that the risk aversion estimate of contestants who participated in both the normal and the supplementary rounds indeed differs depending on the nature of the round, a result consistent with the operation of the existence of a framing effect.

Details

Review of Behavioural Finance, vol. 1 no. 1/2
Type: Research Article
ISSN: 1940-5979

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Article
Publication date: 12 November 2018

Daniela Pirani, Benedetta Cappellini and Vicki Harman

This paper aims to examine how Mulino Bianco, an iconic Italian bakery brand, has reshaped the symbolic and material aspects of breakfast in Italy, transforming a…

Abstract

Purpose

This paper aims to examine how Mulino Bianco, an iconic Italian bakery brand, has reshaped the symbolic and material aspects of breakfast in Italy, transforming a declining practice into a common family occasion.

Design/methodology/approach

A socio-historical analysis of the iconisation process has been undertaken with a framework for investigating the symbolic, material and practice-based aspects of the brand and their changes over time. Archival marketing material, advertising campaigns and interviews with brand managers constitute the main data for analysis.

Findings

Three crucial moments have been identified in which the brand articulates its relationship with the practice of breakfast. During the launch of the brand, the articulation was mainly instigated via the myths of tamed nature and rural past and the material aspect of the products reinforced such an articulation. In the second moment, the articulation was established with the brand’s materiality, emphasised through the use of promotional items targeting mothers and children. In the last phase, a cementification of the articulation was achieved mainly via the symbolic aspect of the brand – communicating Mulino Bianco as emblematic of a new family life in which the “Italian breakfast” was central.

Originality/value

Theoretically, this paper advances the understanding of the pervasive influence of brands in family life, showing how they do not simply reshape existing family food practices, rather they can re-create new ones, investing them with symbolic meanings, anchoring them with novel materiality and equipping consumers with new understandings and competences.

Details

European Journal of Marketing, vol. 52 no. 12
Type: Research Article
ISSN: 0309-0566

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Book part
Publication date: 20 August 1996

Abstract

Details

The Peace Dividend
Type: Book
ISBN: 978-0-44482-482-0

Abstract

Details

Families in Economically Hard Times
Type: Book
ISBN: 978-1-83909-071-4

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Article
Publication date: 1 April 1986

Kitty Calavita

The “economic miracle” in postwar Italy was accompanied by a rapid increase in the industrial accident and illness rates. Italian workers demanded occupational safety and…

Abstract

The “economic miracle” in postwar Italy was accompanied by a rapid increase in the industrial accident and illness rates. Italian workers demanded occupational safety and health enforcement mechanisms that would be more accessible to grass‐roots workers' groups and unions. In the early 1970s local “Occupational Medicine Services” were voluntarily established in many regions. The entire health care system was decentralised in 1978, giving regions exclusive authority to implement occupational safety and health standards within Local Health Units (USLs). The concrete results of these reforms are investigated and the validity of the assumptions of the calls for decentralisation. The difficulties encountered by leftist‐administered regions in attempting to translate their political commitments into significant health and safety improvements are documented. The track‐record of the USLs is examined. An ironic consequence of decentralisation has been that the concentration of all health care activities in the USL has swallowed up occupational safety and health. As a result it is less politically visible and less responsive to worker input.

Details

International Journal of Sociology and Social Policy, vol. 6 no. 4
Type: Research Article
ISSN: 0144-333X

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Book part
Publication date: 1 June 2018

Rosy Musumeci and Arianna Santero

The objective of this chapter is twofold: (1) to analyse meanings and practices regarding the work-family balance of fathers from different social and cultural backgrounds…

Abstract

The objective of this chapter is twofold: (1) to analyse meanings and practices regarding the work-family balance of fathers from different social and cultural backgrounds and (2) to explore how infancy experts and workplace cultures can influence the paid work and childcare reconciliation practices of native and immigrant fathers in Italy, in particular, from the point of view of fathers making the transition to parenthood. Little attention is paid to the role of infancy experts and workplace cultures in shaping fathers’ reconciliation perspectives. Moreover, little research has been dedicated to parenting practices among immigrant families from the fathers’ point of view. We investigate how parenthood is perceived and experienced by native and immigrant fathers, focussing on cultural differences with regard to beliefs about gender roles, children’s needs and childbearing. Our work is based on a qualitative analysis of 61 qualitative interviews with fathers, born in Italy, Romania, Peru and Morocco living in (the north of) Italy, carried out between 2010 and 2015. The results show how both infancy experts and workplace cultures tend to reinforce the widespread hegemonic ideals on ‘good father as provider’ both for natives and for immigrant fathers, despite their different socio-cultural backgrounds.

Details

Fathers, Childcare and Work: Cultures, Practices and Policies
Type: Book
ISBN: 978-1-78743-042-6

Keywords

Abstract

German legal historians of nineteenth and twentieth centuries defined the main characteristics of the corporations and believed that one renaissance institution, the Casa di San Giorgio at Genoa (1407–1805), was similar to the corporations of later centuries. This paper proposes to reverse this perspective: did the founders of early modern corporations know the financial model of the fifteenth century Casa di San Giorgio? The research shows the connection between the model of the Casa di San Giorgio and the Mississippi Company of John Law (1720), the famous financial scheme and bubble. The history of the Casa di San Giorgio was mainly transmitted through a passage of Machiavelli’s History of Florence (VIII, 29). The paper offers new biographical evidence that Law had been to Genoa and introduces sources connecting the genesis of Law’s scheme for the Mississippi Company in France with the model of the Casa di San Giorgio.

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Chartering Capitalism: Organizing Markets, States, and Publics
Type: Book
ISBN: 978-1-78560-093-7

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Book part
Publication date: 31 July 2018

Francesca Comunello and Simone Mulargia

Abstract

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Social Media in Earthquake-Related Communication
Type: Book
ISBN: 978-1-78714-792-8

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Book part
Publication date: 2 December 2013

David Norman Smith

The aim of this chapter is to argue that charisma is a collective representation, and that charismatic authority is a social status that derives more from the…

Abstract

Purpose

The aim of this chapter is to argue that charisma is a collective representation, and that charismatic authority is a social status that derives more from the “recognition” of the followers than from the “magnetism” of the leaders. I contend further that a close reading of Max Weber shows that he, too, saw charisma in this light.

Approach

I develop my argument by a close reading of many of the most relevant texts on the subject. This includes not only the renowned texts on this subject by Max Weber, but also many books and articles that interpret or criticize Weber’s views.

Findings

I pay exceptionally close attention to key arguments and texts, several of which have been overlooked in the past.

Implications

Writers for whom charisma is personal magnetism tend to assume that charismatic rule is natural and that the full realization of democratic norms is unlikely. Authority, in this view, emanates from rulers unbound by popular constraint. I argue that, in fact, authority draws both its mandate and its energy from the public, and that rulers depend on the loyalty of their subjects, which is never assured. So charismatic claimants are dependent on popular choice, not vice versa.

Originality

I advocate a “culturalist” interpretation of Weber, which runs counter to the dominant “personalist” account. Conventional interpreters, under the sway of theology or mass psychology, misread Weber as a romantic, for whom charisma is primal and undemocratic rule is destiny. This essay offers a counter-reading.

Details

Social Theories of History and Histories of Social Theory
Type: Book
ISBN: 978-1-78350-219-6

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Article
Publication date: 21 December 2020

Dewan Muktadir-Al-Mukit

The study attempts to assess the relationship between sociodemographic factors and the risk tolerance level of stock market investors reflected by their trading behavior…

Abstract

Purpose

The study attempts to assess the relationship between sociodemographic factors and the risk tolerance level of stock market investors reflected by their trading behavior from the perspective of developing market economy.

Design/methodology/approach

The study collected data from a survey on capital market investors in Bangladesh. Portfolio beta has been used as a dependent variable to measure the risk tolerance level where total 11 sociodemographic factors have been used as independent variables.

Findings

Among all study variables, three sociodemographic factors are found to be significant in differentiating the risk tolerance level of the stock market investors. The author finds that the risk tolerance level of stock market investors significantly varies according to marital status, family size and financial responsibility.

Practical implications

As sociodemographic characteristics provide a basis in assessing the investor risk tolerance level in the context of developing market economies, the study suggests that stock market related policy and investment management planning process should be formulated by incorporating behavioral aspects of the retail investors.

Originality/value

This study has the potential to contribute to the behavioral finance literature by showing how and at what extent sociodemographic factors may influence the risk tolerance level of stock market investors in developing countries, where sociodemographic factors are considered to be more dominating than the normative portfolio selection procedure because of lacking in investors' financial literacy and due to the presence of a weak regulatory as well as institutional framework. Further, apart from identifying and comprehensively incorporating all possible sociodemographic factors, this study uses portfolio beta as a new objective measure for financial risk tolerance, which overcomes the problem of subjective and other risk tolerance measurement in the existing literature.

Details

South Asian Journal of Business Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2398-628X

Keywords

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