Institutional Technology and the Chains of Trust: Capital Markets and Privatization in Russia and the Czech Republic

The introduction of mass privatization policies in Russia and the Czech Republic depended on the creation of impersonal capital markets to finance the needs of privatized companies and to provide a secondary market for the trading of securities. Yet, mass privatization created the contradictory conditions of generating millions of poorly informed shareholders, with no efficient markets for the sale of the shares. The absence of financial markets created systematic pressures to move assets by illegal or non-transparent means to users who value them. Privatization created the incentives to destroy the financial markets critical to its success. A comparative case analysis of post-privatization market formation in both these countries demonstrates that the functional necessity for these markets does not engender their own creation. In the absence of institutional mechanisms of state regulation and trust, markets become arenas for political contests and economic manipulation. The irony of these policies is that a principal lesson has been that market reforms cannot create viable markets, only institutional formation can.http://deepblue.lib.umich.edu/bitstream/2027.42/39719/3/wp335.pd

Institutional Technology and the Chains of Trust: Capital Markets and Privatization in Russia and the Czech Republic

The introduction of mass privatization policies in Russia and the Czech Republic depended on the creation of impersonal capital markets to finance the needs of privatized companies and to provide a secondary market for the trading of securities. Yet, mass privatization created the contradictory conditions of generating millions of poorly informed shareholders, with no efficient markets for the sale of the shares. The absence of financial markets created systematic pressures to move assets by illegal or non-transparent means to users who value them. Privatization created the incentives to destroy the financial markets critical to its success. A comparative case analysis of post-privatization market formation in both these countries demonstrates that the functional necessity for these markets does not engender their own creation. In the absence of institutional mechanisms of state regulation and trust, markets become arenas for political contests and economic manipulation. The irony of these policies is that a principal lesson has been that market reforms cannot create viable markets, only institutional formation can.

Evons: A Dataset for Fake and Real News Virality Analysis and Prediction

We present a novel collection of news articles originating from fake and real news media sources for the analysis and prediction of news virality. Unlike existing fake news datasets which either contain claims or news article headline and body, in this collection each article is supported with a Facebook engagement count which we consider as an indicator of the article virality. In addition we also provide the article description and thumbnail image with which the article was shared on Facebook. These images were automatically annotated with object tags and color attributes. Using cloud based vision analysis tools, thumbnail images were also analyzed for faces and detected faces were annotated with facial attributes. We empirically investigate the use of this collection on an example task of article virality prediction

Entreprise et travail en Europe occidentale et aux États-Unis aux XIXe et XXe siècles

Patrick Fridenson, directeur d’études L’entreprise à la lumière de l’histoire et des autres sciences sociales (suite et fin) Cette troisième année de séminaire a eu deux dimensions complémentaires. La première a été de dresser une typologie évolutive des différents types d’espaces économiques dans lesquelles une entreprise depuis le début du XIXe siècle peut s’insérer et qui sont conjointement caractérisés par la concurrence et la coopération. Suzanne Berger (MIT) a ainsi présenté ses nouvell..

Detecting Latent Ideology in Expert Text: Evidence From Academic Papers in Economics

Previous work on extracting ideology from text has focused on domains where expression of political views is expected, but it’s unclear if current technology can work in domains where displays of ide-ology are considered inappropriate. We present a supervised ensemble n-gram model for ideology extraction with topic adjustments and apply it to one such do-main: research papers written by academic economists. We show economists ’ polit-ical leanings can be correctly predicted, that our predictions generalize to new do-mains, and that they correlate with public policy-relevant research findings. We also present evidence that unsupervised models can under-perform in domains where ide-ological expression is discouraged.

Direct Improvement of Hamiltonian Lattice Gauge Theory

We demonstrate that a direct approach to improving Hamiltonian lattice gauge theory is possible. Our approach is to correct errors in the Kogut-Susskind Hamiltonian by incorporating additional gauge invariant terms. The coefficients of these terms are chosen so that the order $a^2$ classical errors vanish. We conclude with a brief discussion of tadpole improvement in Hamiltonian lattice gauge theory.Comment: 9 page

Simulating quantum mechanics on a quantum computer

Algorithms are described for efficiently simulating quantum mechanical systems on quantum computers. A class of algorithms for simulating the Schrodinger equation for interacting many-body systems are presented in some detail. These algorithms would make it possible to simulate nonrelativistic quantum systems on a quantum computer with an exponential speedup compared to simulations on classical computers. Issues involved in simulating relativistic systems of Dirac and gauge particles are discussed.Comment: 22 pages LaTeX; Expanded version of a talk given by WT at the PhysComp '96 conference, BU, Boston MA, November 1996. Minor corrections made, references adde

Tetracritical behavior in strongly interacting theories

We suggest a tetracritical fixed point to naturally occur in strongly interacting theories. As a fundamental example we analyze the temperature--quark chemical potential phase diagram of QCD with fermions in the adjoint representation of the gauge group (i.e. adjoint QCD). Here we show that such a non trivial multicritical point exists and is due to the interplay between the spontaneous breaking of a global U(1) symmetry and the center group symmetry associated to confinement. Our results demonstrate that taking confinement into account is essential for understanding the critical behavior as well as the full structure of the phase diagram of adjoint QCD. This is in contrast to ordinary QCD where the center group symmetry associated to confinement is explicitly broken when the quarks are part of the theory.Comment: RevTex, 5 figures. Final version to appear in PR