Local contexts as activation mechanisms of market development: contemporary art in emerging markets

The paper studies how local contexts contribute to the emergence of markets. In particular, it explains how potential entrepreneurs are motivated to become active in establishing new markets. Empirically, the focus is on contemporary art markets in two emerging countries: India and Russia. The paper draws upon qualitative interviews with 65 contemporary art dealers conducted in New Delhi, Mumbai, Moscow and Saint Petersburg. We show how different socio-cultural contexts function as activation mechanisms: in India, family backgrounds predominantly structure the decision-making processes, among others through the economic, social and cultural capital which these families provide. In Russia, by contrast, such family background is non-existent. Instead, the socio-economic turmoil of 1990s and 2000s as well as the strong involvement of the state function as activation mechanisms. We suggest that these different activation mechanisms contribute to explaining the diverging market performance in both countries

Magnetic phases and reorientation transitions in antiferromagnetically coupled multilayers

In antiferromagnetically coupled superlattices grown on (001) faces of cubic substrates, e.g. based on materials combinations as Co/Cu, Fe/Si, Co/Cr, or Fe/Cr, the magnetic states evolve under competing influence of bilinear and biquadratic exchange interactions, surface-enhanced four-fold in-plane anisotropy, and specific finite-size effects. Using phenomenological (micromagnetic) theory, a comprehensive survey of the magnetic states and reorientation transitions has been carried out for multilayer systems with even number of ferromagnetic sub-layers and magnetizations in the plane. In two-layer systems (N=2) the phase diagrams in dependence on components of the applied field in the plane include ``swallow-tail'' type regions of (metastable) multistate co-existence and a number of continuous and discontinuous reorientation transitions induced by radial and transversal components of the applied field. In multilayers (N \ge 4) noncollinear states are spatially inhomogeneous with magnetization varying across the multilayer stack. For weak four-fold anisotropy the magnetic states under influence of an applied field evolve by a complex continuous reorientation into the saturated state. At higher anisotropy they transform into various inhomogeneous and asymmetric structures. The discontinuous transitions between the magnetic states in these two-layers and multilayers are characterized by broad ranges of multi-phase coexistence of the (metastable) states and give rise to specific transitional domain structures.Comment: Manuscript 34 pages, 14 figures; submitted for publicatio