Optimally robust estimators in generalized Pareto models

In this paper, we study the robustness properties of several procedures for the joint estimation of shape and scale in a generalized Pareto model. The estimators that we primarily focus upon, most bias robust estimator (MBRE) and optimal MSE-robust estimator (OMSE), are one-step estimators distinguished as optimally robust in the shrinking neighbourhood setting; that is, they minimize the maximal bias, respectively, on such a specific neighbourhood, the maximal mean squared error (MSE). For their initialization, we propose a particular location–dispersion estimator, MedkMAD, which matches the population median and kMAD (an asymmetric variant of the median of absolute deviations) against the empirical counterparts. These optimally robust estimators are compared to the maximum-likelihood, skipped maximum-likelihood, Cramér–von-Mises minimum distance, method-of-medians, and Pickands estimators. To quantify their deviation from robust optimality, for each of these suboptimal estimators, we determine the finite-sample breakdown point and the influence function, as well as the statistical accuracy measured by asymptotic bias, variance, and MSE – all evaluated uniformly on shrinking neighbourhoods. These asymptotic findings are complemented by an extensive simulation study to assess the finite-sample behaviour of the considered procedures. The applicability of the procedures and their stability against outliers are illustrated for the Danish fire insurance data set from the package evir.     

Bibliometric analysis of production planning and control (1990–2016)

Production Planning and Control (PPC) has been one of the primary publishing outlets for operations management research for nearly three decades. This paper presents bibliometric analysis of the journal from its inception through 2016. PPC was analysed from six different perspectives to provide reliable and in-depth information about the journal’s performance and development. The analysis considered the development of the journal itself, the countries of contributing authors, authors’ academic and practitioner organisation affiliations, the top publishing and most cited authors, the most cited articles, and finally the topics of published papers through analysis of titles, keywords and abstracts. It was found that the journal is considered an outlet for both practice and academic research, reflecting changes over time in the landscape of operations management.     

The evolving role of organizational theory within economic sociology

Organizational theory was one of the roots of the “new” economic sociology. In recent years, a set of complementary research programs have come to the fore that augment our understanding of the social structuring of markets. These include an interest in the role of conventions and commensuration, market devices, the performativity of economics, and the role of morality in the construction of markets. These other interests have come to enrich our conception of the ways in which “the social” structures market activities. While this has decentered some of the emphasis on organizations, there are still active research programs pushing forward new ideas that are focused on organizations, institutions, and networks in economic sociology. We discuss some of the recent work on organizational logics, inter‐ and intra‐organizational networks, and social movements and organization. We note there has also been some hybridity as scholars borrow from each other's toolkits in order to deepen our knowledge of the way the economy works. Organizational theory remains a main theoretical mainstay of economic sociology, but it has now been joined by additional perspectives.     

Ups and downs of art commerce: narratives of “crisis” in the contemporary art markets of Russia and India

This article develops an analytical framework to study the role of narratives in markets and argues that there is a relationship between the structure and composition of narratives produced by market actors and market dynamics. With respect to theory, the article bridges the perspectives that study markets as cultures and as fields and draws from the organizational studies approach to the analysis of narratives. Two empirical cases of the crises narratives in the emerging contemporary art markets of Russia and India illustrate the use of the framework. The analysis is based on in-depth interviews with artists and art dealers as well as observations in Moscow, Saint Petersburg, New Delhi, and Mumbai conducted between April 2012 and June 2013. The article shows that there is a widely shared crisis narrative with a coherent structure in the Indian art market. In contrast, fragmented and contested stories that lack narrative structure dominate in the Russian art market. The analysis of the first case highlights the narrative structure and shows the productive work it does in the Indian market—it provides a moral justification of existing market norms and produces a perspective for the future. The analysis of the second case focuses on the context of narrative production and connects the conflicting interpretations of the crisis in the Russian art market to contested hierarchies and persistent uncertainty.     

Childhood-Grounded Explanations for Personal Troubles: Social Problems Work in Radio Counseling

This paper examines how images of unfortunate childhoods are invoked to make sense of psychological problems in adulthood. I use conversation analysis and membership categorization analysis to study a Swedish radio program in which a psychotherapist talks to people about their personal troubles. The findings suggest that, on one hand, the image of an unfortunate childhood was used as an explanatory framework for individuals' problematic experiences. On the other hand, the childhood-grounded reasoning, applied to individual cases, illustrated the explanatory framework and reaffirmed it as a commonsense way of reasoning about personal troubles.