Understanding consumption within a residential care home : an interpretation of George’s everyday experiences of life and death

We are witnessing perhaps the most important shift in the history of mankind – the rapid ageing of the earths population. This trend raises such issues as elderly care giving and living arrangements in old age. By virtue, the author suggests that managing service provision for elderly consumers within residential care homes is going to become an increasingly important issue as more consumers live longer and require residential care. Moreover, given the paucity of literature related to elderly consumers understandings of such institutions this research aims to illuminate and distil this issue. Based on existential-phenomenological hermeneutic interpretive methods the author reveals that elderly consumers actively consume life and death related experiences in order to create a meaningful existence within residential care homes

Monetary Policy, Asset-Price Bubbles and the Zero Lower Bound

We use a simple model of a closed economy to study the recommendations of monetary policy-makers, attempting to respond optimally to an asset-price bubble whose stochastic properties they understand. We focus on the impact which the zero lower bound (ZLB) on nominal interest rates has on the recommendations of such policy-makers. For a given target inflation rate, we identify several different forms of `insurance' which policy-makers could potentially take out against encountering the ZLB due to the future bursting of a bubble. Even with perfect knowledge of the bubble process, however, which of these will be optimal varies from one type of bubble to another and, for certain bubbles, from one period to the next. It is therefore difficult to say whether the ZLB should cause policy-makers to operate policy more tightly or loosely than they would otherwise do, while a bubble is growing -- even after abstracting from the informational difficulties they face in practice. We also examine the implications of the ZLB for policy-makers' preferences as to their inflation target. Policy-makers who wish to avoid concerns about the ZLB should take care not to set too low a target -- especially if the neutral real interest rate is low.

Monetary Policy, Asset-price Bubbles and the Zero Lower Bound

We use a simple model of a closed economy to study the recommendations of monetary policy-makers attempting to respond optimally to an asset-price bubble whose stochastic properties they understand. We focus on the impact which the zero lower bound (ZLB) on nominal interest rates has on the recommendations of such policy-makers. For a given target inflation rate, we identify several different forms of ‘insurance’ which policy-makers could potentially take out against encountering the ZLB due to the future bursting of a bubble. Even with perfect knowledge of the bubble process, however, which of these will be optimal varies from one type of bubble to another and, for certain bubbles, from one period to the next. It is therefore difficult to draw general conclusions as to whether the ZLB should cause policy-makers to operate policy more tightly or loosely than otherwise, while a bubble is growing – even after abstracting from the informational difficulties they face in practice. We also examine the implications of the ZLB for policy-makers’ preferences as to their inflation target. Policy-makers who wish to avoid concerns about the ZLB should take care not to set too low a target, especially if the neutral real interest rate is low. Such policy-makers should also set a higher target inflation rate if the economy’s natural propensity to rebound from a shock to output is weak, or if output is relatively unresponsive to real interest rate settings.monetary policy; asset-price bubbles; zero lower bound

Consuming Wellbeing and Happiness through Epicurean Ingestion

Peer reviewedPostprin

Viewpoint: Perspectives on prosopagnosia and models of face recognition

The two papers by Bobes et al. (2003, this issue) and by Sperber and Spinnler (2003, this issue) add to the large body of literature demonstrating covert face recognition in prosopagnosia. This viewpoint will offer some perspectives on this interesting phenomenon. First, a re-analysis of the empirical literature will indicate an important misconception concerning the preserved abilities of prosopagnosics. The second section will briefly assess the contribution of Bobes et al. (2003, this issue) and Sperber and Spinnler (2003, this issue) to the debate about the locus, in cognitive terms, of the underlying causal deficit in prosopagnosia with covert face recognition. Both papers make reference to the two main models seeking to explain this phenomenon: the model proposed by Burton and colleagues (Burton et al., 1991; Burton and Young, 1999; Young and Burton, 1999) and that proposed by Farah and colleagues (Farah et al., 1993; O’Reilly and Farah, 1999). Finally, an observation will be offered concerning representations of faces in the Burton et al. (1991) model

Accuracy of familiarity decisions to famous faces perceived without awareness depends on attitude to the target person and on response latency

Stone and Valentine (2004) presented masked 17 ms faces in simultaneous pairs of one famous and one unfamiliar face. Accuracy in selecting the famous face was higher when the famous person was regarded as ‘‘good’’ or liked than when regarded as ‘‘evil’’ or disliked. Experiment 1 attempted to replicate this phenomenon, but produced a different pattern of results. Experiment 2 investigated alternative explanations and found evidence supporting only the effect of response latency: responses made soon after stimulus onset were more accurate to liked than to disliked faces, whereas responses made after a longer delay were equally accurate to disliked faces. It appears that the effect of negative valence was corrected within the space of a few hundred milliseconds. Experiment 3, using an affective priming paradigm, supported the concept that an early-arising effect of valence is corrected if it is misleading to the directed task

The categorical structure of knowledge for famous people (and a novel application of centre–surround theory)

Knowledge of familiar people is essential to guide social interaction, yet there is uncertainty about whether semantic knowledge for people is stored in a categorical structure as for objects. Four priming experiments using hard-to-perceive primes investigated whether occupation forms a category connecting famous persons in semantic memory. Primes were famous faces exposed for 17 ms with masking, resulting in severely restricted awareness and thus precluding expectancy-based priming effects. Targets were consciously perceptible famous faces (Experiments 1–3), famous names (Experiment 3), or occupations (Experiment 4) representing either the same or different occupation to the prime. Significant priming demonstrated the operation of automatic processes, including spreading activation, among persons sharing a common occupation; this supports the categorical view. The direction of priming (faster/slower responses to same-occupation than different-occupation targets) was dependent on prime-target stimulus onset asynchrony (Experiments 1–3) and type of target (Experiment 4). This pattern of results is attributed to the Centre-Surround mechanism proposed by Carr and Dagenbach [Carr, T. H., & Dagenbach, D. (1990). Semantic priming and repetition priming from masked words: evidence for a centre-surround attentional mechanism in perceptual recognition. Journal of Experimental Psychology: Learning, Memory and Cognition, 16, 341–350]. These results support (a) the categorical structure of semantic knowledge for famous people and (b) the application of the Centre-Surround mechanism to the domain of person recognition

Angry and happy faces perceived without awareness: a comparison with the affective impact of masked famous faces

Two experiments investigated the effects of masked happy and angry faces exposed for only 17 ms. Three questions were posed: do happy and angry faces attract attention equally to their spatial location? Does explicit detection of facial emotionality differ between happiness and anger? Do happy or angry faces give rise to stronger perceptual impressions? Results were compared with those previously reported for faces of positively and negatively evaluated famous persons. There was no evidence of attention orientation to either happy or angry faces, contrasting with previous evidence of orientation to/away from the faces of positively/negatively evaluated famous persons (Stone & Valentine, 2005b). Explicit detection of emotionality was more accurate for happy than angry faces, and the consciously experienced visual percept was stronger for happy than angry faces, both effects being similar to those previously reported for the faces of positively/negatively evaluated famous persons (Stone & Valentine, 2004, 2005a, 2005c). It appears that facial emotion and facial identity have some similar effects when perceived without awareness, dependent on positive or negative invoked affect. The attentional properties of famous faces may exceed those of emotional faces under some circumstances

Better the devil you know? Non-conscious processing of identity and affect of famous faces

The nonconscious recognition of facial identity was investigated in two experiments featuring brief (17-msec) masked stimulus presentation to prevent conscious recognition. Faces were presented in simultaneous pairs of one famous face and one unfamiliar face, and participants attempted to select the famous face. Subsequently, participants rated the famous persons as “good” or “evil” (Experiment 1) or liked or disliked (Experiment 2). In Experiments 1 and 2, responses were less accurate to faces of persons rated evil/disliked than to faces of persons rated good/liked, and faces of persons rated evil/disliked were selected significantly below chance. Experiment 2 showed the effect in a within-items analysis: A famous face was selected less often by participants who disliked the person than by participants who liked the person, and the former were selected below chance accuracy. The within-items analysis rules out possible confounding factors based on variations in physical characteristics of the stimulus faces and confirms that the effects are due to participants’ attitudes toward the famous persons. The results suggest that facial identity is recognized preconsciously, and that responses may be based on affect rather than familiarity

Strength of visual percept generated by famous faces perceived without awareness: effects of affective valence, response latency, and visual field

Participants who were unable to detect familiarity from masked 17 ms faces ([Stone and Valentine, 2004] and [Stone and Valentine, in press-b]) did report a vague, partial visual percept. Two experiments investigated the relative strength of the visual percept generated by famous and unfamiliar faces, using masked 17 ms exposure. Each trial presented simultaneously a famous and an unfamiliar face, one face in LVF and the other in RVF. In one task, participants responded according to which of the faces generated the stronger visual percept, and in the other task, they attempted an explicit familiarity decision. The relative strength of the visual percept of the famous face compared to the unfamiliar face was moderated by response latency and participants’ attitude towards the famous person. There was also an interaction of visual field with response latency, suggesting that the right hemisphere can generate a visual percept differentiating famous from unfamiliar faces more rapidly than the left hemisphere. Participants were at chance in the explicit familiarity decision, confirming the absence of awareness of facial familiarity