International student subjectivities: biographical investments for liquid times

The international student as an object of study has typically been understood through the frame of cultural identity, mapped back to notions of fixed, static notions of cultural difference. In contrast, this study seeks to understand how the practice of international study has emerged as an increasingly popular ‘biographical solution’ (Beck 1992, Bauman 2002) in order to pursue imagined career trajectories in a globalised and competitive world. Informed by recent studies of middle class strategy in Asia (Pinches, 1999) and the transnational Chinese diaspora (Ong 1999, Ang 2001) that challenge essentialist accounts of timeless Asian values and East-West binaries, the paper analyses interview data collected from ‘Asian’ international students attending preparatory programs at an Australian university. Specifically, the paper discusses the disciplinary formation of the ‘international student’ – the take-up of self-Orientalizing discourses (Ong, 1999), and engagement in practices of auto-ethnography (Pratt, 1998). In addition, the paper explores students’ critiques of, and resistances to Orientalist discourses, and pragmatic willingness to submit to local demands to further their longer term goals. Preparatory programs emerge not so much as life-changing locations but rather necessary transit lounges, for the acquisition of cultural distinctions along their life routes

Generation of spin-polarized currents via cross-relaxation with dynamically pumped paramagnetic impurities

Key to future spintronics and spin-based information processing technologies is the generation, manipulation, and detection of spin polarization in a solid state platform. Here, we theoretically explore an alternative route to spin injection via the use of dynamically polarized nitrogen-vacancy (NV) centers in diamond. We focus on the geometry where carriers and NV centers are confined to proximate, parallel layers and use a 'trap-and-release' model to calculate the spin cross-relaxation probabilities between the charge carriers and neighboring NV centers. We identify near-unity regimes of carrier polarization depending on the NV spin state, applied magnetic field, and carrier g-factor. In particular, we find that unlike holes, electron spins are distinctively robust against spin-lattice relaxation by other, unpolarized paramagnetic centers. Further, the polarization process is only weakly dependent on the carrier hopping dynamics, which makes this approach potentially applicable over a broad range of temperatures.C.A.M. acknowledges support from the National Science Foundation through Grant No. NSF-1314205. M.W.D. acknowledges support from the Australian Research Council through Grant No. DP120102232

Covert repertoires: ecotage in the UK

Ecological sabotage (ecotage) has been a feature of the more radical parts of the environmental movement in the Western world for several decades. While it may be perceived as being the preserve of underground cells of 'eco-terrorists', in the UK those who carry out small-scale acts of sabotage are also often engaged in relatively conventional political activity; view sabotage as a complement to other action, not as an end in itself; and are committed to avoiding physical harm to people. Drawing on ethnographic data from research with British activists, this article seeks to define ecotage and to explain its place in the repertoires of the environmental direct action movement in the UK. It is argued that the self-limiting form of ecotage in the UK has its roots in cross-movement debates that have developed over several decades and that national traditions remain important in understanding the development of social movement repertoires

Insuring the Uninsurable: Brokers and Incomplete Insurance Contracts

How do markets spread risk when events are unknown or unknowable and where not anticipated in an insurance contract? While the policyholder can "hold up" the insurer for extra contractual payments, the continuing gains from trade on a single contract are often too small to yield useful coverage. By acting as a repository of the reputations of the parties, we show the brokers provide a coordinating mechanism to leverage the collective hold up power of policyholders. This extends both the degree of implicit and explicit coverage. The role is reflected in the terms of broker engagement, specifically in the ownership by the broker of the renewal rights. Finally, we argue that brokers can be motivated to play this role when they receive commissions that are contingent on insurer profits. This last feature questions a recent, well publicized, attack on broker compensation by New York attorney general, Elliot Spitzer.Incomplete Insurance Contracts, Brokerage, Contingent Commissions, Reputation

Mild acetabular dysplasia and risk of osteoarthritis of the hip : a case-control study

Objective To determine whether mild variation in acetabular depth (AD) and shape is a risk factor for osteoarthritis (OA) of the hip. Methods The unaffected contralateral hip of patients with unilateral hip OA was compared with hips of asymptomatic controls without hip OA, derived from the Nottingham Genetics Osteoarthritis and Lifestyle case–control study. Standardised anteroposterior x-rays of the pelvis were used to measure centre edge (CE) angle and AD. Cut-off points for narrow CE angle and shallow AD were calculated from the control group (mean −1.96×SD). The relative risk of hip OA associated with each feature was estimated using OR and 95% CI and adjusted risks were calculated by logistic regression. Results In controls, both the CE angle and the AD were lower in the left hip than in the right hip. The CE angle related to age in both hips, and AD of the right hip was lower in men than in women. The contralateral unaffected hip in patients with unilateral hip OA had a decreased CE angle and AD compared with controls, irrespective of side. The lowest tertile of the CE angle in contralateral hips was associated with an eightfold risk of OA (aOR 8.06, 95% CI 4.87 to 13.35) and the lowest tertile of AD was associated with a 2.5-fold risk of OA (aOR 2.53, 95% CI 1.28 to 5.00). Significant increases in the risk of OA were also found as the CE angle and AD decreased

Taking the C out of CVMFS

The Cern Virtual Machine File System is most well known as a distribution mechanism for the WLCG VOs@@ experiment software; as a result, almost all the existing expertise is in installing clients mount the central Cern repositories. We report the results of an initial experiment in using the cvmfs server packages to provide Glasgow-based repository aimed at software provisioning for small UK-local VOs. In general, although the documentation is sparse, server configuration is reasonably easy, with some experimentation. We discuss the advantages of local CVMFS repositories for sites, with some examples from our test VOs, vo.optics.ac.uk and neiss.org.uk

Insuring the uninsurable : brokers and incomplete insurance contracts

How do markets spread risk when events are unknown or unknowable and where not anticipated in an insurance contract? While the policyholder can "hold up" the insurer for extra contractual payments, the continuing gains from trade on a single contract are often too small to yield useful coverage. By acting as a repository of the reputations of the parties, we show the brokers provide a coordinating mechanism to leverage the collective hold up power of policyholders. This extends both the degree of implicit and explicit coverage. The role is reflected in the terms of broker engagement, specifically in the ownership by the broker of the renewal rights. Finally, we argue that brokers can be motivated to play this role when they receive commissions that are contingent on insurer profits. This last feature questions a recent, well publicized, attack on broker compensation by New York attorney general, Elliot Spitzer. Klassifikation: G22, G24, L1

Financial Innovation in the Management of Catastrophe Risk

Catastrophic events such as hurricane and earthquakes are the dominant source of risk for many property casualty insurers. Primary insurers usually limit the scale and geographic scope of their operations in order to focus on core competencies such as marketing, underwriting and loss control. But his often leaves them without sufficient geographic spread to diversify catastrophe risk. The traditional hedge for the primary insurer is reinsurance. Specialist reinsurers achieve a spacial spread of risk and can therefore bear catastrophe risk that is undiversifiable to the primary. But the transaction costs associated with reinsurance, and therefore premiums, are high. High premiums, coupled with the fact that catastrophe losses exhibit little correlation with capital market indices, has attracted considerable activity in Wall Street in searching for new instruments that securitize catastrophe risk. Indeed many players are now talking of catastrophe risk being a new “asset class” and new instruments such as catastrophe options and catastrophe bonds are starting to appear. The rationale for these new instruments is usually developed as follows. Recent catastrophe events such as Hurricane Andrew and the Northridge earthquake have imposed costs on the insurance industry of an order of magnitude not thought possible only a decade ago. More sophisticated modeling now presents potential losses to the industry of $50 billion or more. Examples would be Andrew hitting Miami, a major quake on the New Madrid Fault and a repeat of the 1906 San Francisco earthquake. These events could wipe out 25$200 billion. Two such events, or one such event combined with continued mass tort claims (e.g. successful plaintiff claims in tobacco litigation) could cripple the whole industry. However, losses of this size would hardly cause a ripple in capital markets. The U.S. capital market currently currently consists of securities representing some $13 trillion of investor wealth and the loss scenarios cited above amount to less than one standard deviation of daily trading volume. Presentations by merchant bankers, reinsurance brokers and others have echoed this potential for diversifying catastrophe risk within the capital market. The high transactions costs of reinsurance offers potential for hedging instruments to be offered to primary insurers that are both competitive with current reinsurance and which offer investors high rates of return. Moreover, since catastrophe risk is uncorrelated with market indices, the benchmark for such investments is just the risk free rate. Pricing new instruments requires that the expected loss be estimated with some. Until recently, insurers and reinsurers had a comparative advantage in information on catastrophic events. But in the past decade a number of modeling firms have developed models that combine seismic and meteorological information with data on the construction, siting, and value of individual buildings. These models can be used to simulate the economic effects of many thousands of storms and earthquakes. Although such models are used by the insurance firms and reinsurers, mainly for loss estimation and re-balancing their exposure, the same models are now available to other companies and investors. The arrival of the modelers and their models is eroding the comparative information advantage of insurers and reinsurers and opening the door to new players. Insurers will retain their comparative advantage over, say, merchant banks in related insurance services such as marketing, underwriting and loss settlement facilities. But the stage has been set for an unbundling of insurance products with insurers retaining marketing underwriting and settlement services and risk bearing by-passing the reinsurance industry and being provided more directly from the capital market. But the combination of high transaction costs for reinsurance and the vast capacity of the capital market for diversification, is not sufficient to ensure the success of these new instruments. The costs associated with reinsurance do not necessarily reflect monopoly rent. Relationships between primary insurers and reinsurers involve moral hazard; the relationship relaxes the incentive for the insurer to underwrite carefully or to settle claims efficiently. Consequently, the reinsurer will monitor the primary. Moreover, long term relationships are often formed to counter such expropriation. The apparently high transaction costs of reinsurance may simply reflect the resolution of moral hazard. If new instruments such as catastrophe options and bonds are to compete successfully with reinsurance, they must be able resolve incentive conflicts between the primary insurer and the ultimate risk bearer. Indeed, if moral hazard is not resolved, using past insurance loss data to estimate the potential returns for purchasers of catastrophe bonds, etc, is spurious. The purpose of this paper is to examine and categorize new catastrophe hedging instruments. These instruments will then be compared with traditional risk management strategies adopted by primary insurers in order to compare their relative efficiency at resolving incentive conflicts. Each instrument offers a different combination of credit risk, basis risk and moral hazard. For example, catastrophe reinsurance is subject to significant credit risk and moral hazard, but does not encounter significant basis risk. I will argue that the differential performance of the traditional and new instruments offers primary insurers with a richer portfolio of risk management strategies, though no strategy is dominant in its performance on all three criteria.