Troubling Methods in Qualitative Inquiry and Beyond

This present paper troubles and literally ‘shakes’ the idea of methods as the founding ground of qualitative inquiry. It does so by addressing the real-time messiness of research and the retrospective character of research reports. While the paper is not as such opposed to methods, it does suggest that many actual research practices do not follow defined and regular plans as the terminology of methods inclines. However, rather than seeing the messiness as a bias to be eliminated, a more constructive approach is suggested. With the intention of inviting more creative and thought-provoking research within qualitative inquiry, three specific ‘messy’ research strategies are suggested in the paper. These are: 1) Searching for associations between actors, of both human and non-human kinds, 2) following the traces of many kinds of actors and 3) doing a theoretical re-working of materials. The overall suggestion is that these open-ended and flexible strategies allow for an innovative approach to the development of a qualitative psychology while also serving to trouble (at least for a moment) the current popularity of methods in research

Paying for Market Quality

One way to improve the liquidity of small stocks is to subsidize the providers of liquidity. These subsidies take many forms such as informational advantages, priority in trading with incoming order flow, and fee rebates for limit order traders. In this study, we examine another type of subsidy – directly paying liquidity providers to provide contractual improvement in liquidity. Our specific focus here is the 2002 decision by the Stockholm Stock Exchange to allow listed firms to negotiate with liquidity providers to set maximum spread widths and minimum depths. We find, for a sample of stocks that entered into such an arrangement, a significant improvement in market quality with a decline in quoted spreads and an increase in quoted depth throughout the limit order book. We also find evidence that suggests that there are improvements beyond those contracted for. In addition, both inter and intraday volatility decline following the entry of committed liquidity providers for these stocks. Traders benefit by the reduced costs as well as by the ease of finding liquidity as seen in the increased trade sizes. We also find that a firm’s stock price subsequent to entering into the agreement rises in direct proportion to the improvement in market quality Thus, we find overwhelming evidence of liquidity benefits to listed firms of entering into such contracts which suggests that firms should consider these market quality improvement opportunities as they do other capital budgeting decisions and that there are residual benefits beyond those contracted for.No keywords;

Asymmetric information, self-selection and pricing of insurance contracts: the simple no-claims case

This paper presents an optional bonus-malus contract based on a pri-ori risk classification of the underlying insurance contract. By inducing self-selection, the purchase of the bonus-malus contract can be used as a screening device. This gives an even better pricing performance than both an experience rating scheme and a classical no-claims bonus system. An application to the Danish automobile insurance market is considered

Estimating Yield Curves by Kernel Smoothing Methods

We introduce a new method for the estimation of discount functions, yield curves and forward curves for coupon bonds. Our approach is nonparametric and does not assume a particular functional form for the discount function although we do show how to impose various important restrictions in the estimation. Our method is based on kernel smoothing and is defined as the minimum of some localized population moment condition. The solution to the sample problem is not explicit and our estimation procedure is iterative, rather like the backfitting method of estimating additive nonparametric models. We establish the asymptotic normality of our methods using the asymptotic representation of our estimator as an infinite series with declining coefficients. The rate of convergence is standard for one dimensional nonparametric regression.Coupon bonds; forward curve; Hilbert space; local linear; nonparametric regression; yield curve