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Showing papers on "Managerial economics published in 2002"


Journal ArticleDOI
TL;DR: In this article, a longitudinal case study of the introduction of business planning and performance measures in cultural organizations is presented, where Weber's identification of types of rationality is used to identify the rationality of cultural organizations.
Abstract: Reporting on a longitudinal case study of the introduction of business planning and performance measures in cultural organizations, this article uses Weber's identification of types of rationality ...

516 citations


Book
03 Dec 2002
TL;DR: In this paper, the theory and methods of Industrial Organization Economic Externalities New Neoclassical Economics New Institutional Economics Part II: APPLICATIONS Law and Economics Behavioural Economics Organizations Theory Environmental Economics Perspectives Glossary Index
Abstract: Preface PART I: THEORY AND METHODS Background Elements of Industrial Organization Economic Externalities New Neoclassical Economics New Institutional Economics PART II: APPLICATIONS Law and Economics Behavioural Economics Organizations Theory Environmental Economics Perspectives Glossary Index

77 citations


BookDOI
01 Jan 2002
TL;DR: In this article, the authors discuss the potential policy implications of the new institutional economic model and the role of game theory and game theory in the development of new institutions and transformation of economic systems.
Abstract: 1 Monetary Theory, Monetary Policy, and Financial Markets.- 2 Public Economics.- 3 Labor Economics.- 4 Institutions and Transformation - Possible Policy Implications of the New Institutional Economics.- 5 Antitrust and Regulation - The View of New Institutional Economics.- 6 Economics of Networks.- 7 Growth, Structural Change, and Employment.- 8 Economics of the Personal Distribution of Income.- 9 Game Theory and Experimental Economics.- 10 Summary and Recommendations.- List of Tables.- List of Figures.- List of Authors.

75 citations


Posted Content
TL;DR: The third edition of The Economics of Business Enterprise as discussed by the authors provides stimulating insights suggestive of further research in the field of economics and business, and students and researchers specialising in the fields of economic and business will find that this third edition continues to provide stimulating insights.
Abstract: Students and researchers specialising in the fields of economics and business will find that this third, updated edition of The Economics of Business Enterprise continues to provide stimulating insights suggestive of further research.

61 citations


BookDOI
01 Jan 2002
TL;DR: It is shown in a constructive fashion that a new algorithm may be devised which processes the original LCP in linear number of spatial grid points.

33 citations



Journal ArticleDOI
TL;DR: The title Experimental Game Theory refers to experiments whose goal is to learn about general principles of strategic behavior, as opposed to the performance of specific institutions.

32 citations


Book
01 May 2002
TL;DR: In this article, the authors present a checklist for managers to understand the business economics: an overview of consumer demand, the analysis of production costs, the firm's supply decision, demand, supply and price determination, and analysis of perfectly competitive markets.
Abstract: 1. Business economics: an overview 2. The analysis of consumer demand 3. The analysis of production costs 4. Analysis of the firm's supply decision 5. Demand, supply and price determination 6. Analysis of perfectly competitive markets 7. Analysis of monopoly markets 8. Analysis of monopolistically competitive markets 9. Oligopoly 10. Managerial objectives and the firm 11. Understanding competitive strategy 12. Understanding pricing strategies 13. Understanding the market for labour 14. Understanding the market for capital 15. Understanding the market for natural resources 16. Government and business 17. Business and economic forecasting 18. Business economics -- a checklist for managers

31 citations


Journal ArticleDOI
TL;DR: Insight is given into the growing role of game theory, and particularly of the principal-agent model, for the important fields of finance and managerial accounting.
Abstract: Game theory has been applied during the last two decades to an ever increasing number of important practical problems in economics, industrial organization, business strategy, finance, accounting, market design and marketing; including antitrust analyses, monetary policy, and firm restructuring. In this paper we give insight into the growing role of game theory, and particularly of the principal-agent model, for the important fields of finance and managerial accounting.

23 citations


Journal ArticleDOI
TL;DR: In this article, the authors examine the nature of ecological economics, arguing that it comprises two aspects, the qualitative framework within which it operates and the quantitative techniques which it uses to measure sustainability, evaluate policies and assist decision-making.
Abstract: This paper examines the nature of ecological economics, arguing that it comprises two aspects, the qualitative framework within which it operates and the quantitative techniques which it uses to measure sustainability, evaluate policies and assist decision-making. The former is distinct to ecological economics, whereas the latter is largely shared with environmental economics. Although these have co-existed for some time, it is contended that the qualitative aspect needs to be developed if ecological economics is to realize its potential. The paper first offers a Schumpeterian 'pre-analytic' vision of ecological economics. Ecological economics, it is argued, necessarily implies a fundamental change in the way problems are perceived and in how they should be addressed. Second, the paper discusses the quantitative aspect of ecological economics, arguing that the overlap with environmental economics in the techniques used is one reason why the two have frequently not been seen as sufficiently distinct. The paper concludes that a development of the qualitative, procedural aspect of ecological economics is needed if its full potential for influencing policy-making is to be realized.

20 citations


Book
01 Oct 2002
TL;DR: This article explored theoretical and empirical literature in industrial economics, by using a longitudinal firm-level database, and by developing and simulating a model on industrial dynamics, focusing on variances in the structural and dynamic properties of manufacturing industries.
Abstract: Focuses on variances in the structural and dynamic properties of manufacturing industries. This book shows results by exploring the theoretical and empirical literature in industrial economics, by using a longitudinal firm-level database, and by developing and simulating a model on industrial dynamics.

DOI
01 Jan 2002
TL;DR: The opinions expressed in these papers represent those of the author(s) and not The Initiative for Policy Dialogue as discussed by the authors, and do not cite them without explicit permission from the authors(s).
Abstract: The opinions expressed in these papers represent those of the author(s) and not The Initiative for Policy Dialogue. These papers are unpublished. Do not cite them without explicit permission from the author(s).


Posted Content
TL;DR: In this paper, the authors analyse and exemplify some methodological implications on the way to conduct experiments related to the adoption of a cognitive approach in economics and propose some notes on the relation between experimental economics and simulation with artificial agents.
Abstract: This paper aims to analyze and exemplify some methodological implications on the way to conduct experiments related to the adoption of a cognitive approach in Economics. Many differences arise in relation to a more traditional way. In fact cognitive economics has strong descriptive attention and aims at beeing closer to reality than the mainstream. Besides the idea of representative agents is questioned. Different kind of experiments, differents analysis and new tools are so required. The paper proposes also some notes on the relation between experimental economics and simulation with artificial agents.

01 Jan 2002
TL;DR: The concept of contract has become essential to economics in the last 30 years and three main theoretical frameworks arose: "incentive theory", "incomplete contract theory" and "transaction-costs theory" as discussed by the authors.
Abstract: The concept of contract has become essential to economics in the last 30 years. Three main theoretical frameworks arose: “incentive theory”, “incomplete-contract theory” and “transaction-costs theory.” These frameworks have enabled scholars to renew their analysis of microeconomic coordination problems and yielded implications for Industrial Economics. Beyond this, analyses of the performance of “market” economies and of the institutional framework were also renewed. Though substantial progress has been made, new developments are needed, requiring a better grasp of Bounded Rationality and also of the interactions between contracts and institutions.

01 Jan 2002
TL;DR: The evolution of economics in a large part relies on the social moral norms, and no immoral economics ever exists in the development of modern economics as mentioned in this paper, and the promising prospect of economics does not in the main lie in the inborn gift of the economists themselves, but in the good labor division and cooperation between economics and other disciplines, in the reasonable employment of mathematical tools and avoiding of traditional defects in the pursuit oftrend and popularity.
Abstract: In the development course of economics,the appearance of the different schools is often due to the difference of economic analytical perspectives or methods.The evolution of economics in a large part relies on the social moral norms,and no immoral economics ever exists in the development of modern economics.A promising prospect of economics does not in the main lie in the inborn gift of the economists themselves,but in the good labor division and cooperation between economics and other disciplines,in the reasonable employment of mathematical tools and avoiding of traditional defects in the pursuit oftrend and popularity.

Book
13 Sep 2002
TL;DR: In this article, the authors introduce business and management students to economic concepts as well as providing economics students with a clear grasp of how to use the skills they will need in the world of business.
Abstract: This book can be used as a way of introducing business and management students to economic concepts as well as providing economics students with a clear grasp of how to use the skills they will need in the world of business.Topics covered include: product differentiation price discrimination hiring and training workers labor-management relations international trade A host of key features are employed to add colour to the text including case studies, examples and discussion questions. Scenarios presented centre upon a diverse range of subjects and firms including Eurostar, NHL hockey equipment, Chevrolet, Philips and pension plans.

Book
22 Feb 2002
TL;DR: Kamarck as discussed by the authors argues that only rough accuracy is attainable in economic measurement, and that understanding an economy requires knowledge from other disciplines such as history, psychology, and other social sciences.
Abstract: "Economics as a Social Science" is a highly readable critique of economic theory, based on a wide range of research, that endeavors to restore economics to its proper role as a social science. Contrary to conventional economic theory, which assumes that people have no free will, this book instead bases economics on the realistic assumption that human beings can choose; that we are complex beings affected by emotion, custom, habit, and reason; and that our behavior varies with circumstances and times. It embraces the findings of history, psychology, and other social sciences and the insights from great literature on human behavior as opposed to the rigidity set by mathematical axioms that define how economics is understood and practiced today.Andrew M. Kamarck demonstrates that only rough accuracy is attainable in economic measurement, and that understanding an economy requires knowledge from other disciplines. The canonical hypotheses of economics (perfect rationality, self-interest, equilibrium) are shown to be inadequate (and in the case of "equilibrium" to be counterproductive to understanding the forces that dominate the economy), and more satisfactory assumptions provided. The market is shown to work imperfectly and to require appropriate institutions to perform its function reasonably well. Further, Kamarck argues that self-interest does not always lead to helping the general interest."Economics as a Social Science" examines and revises the fundamental assumptions of economics. Because it avoids jargon and explains terms carefully, it will be of interest to economics majors as well as to graduate students of economics and other social sciences, and social scientists working in government and the private sector.Andrew M. Kamarck is former Director, Economic Development Institute, the World Bank.


Book
01 Jan 2002
TL;DR: The economic perspectiveMarginal AnalysisPerfect Competition and the Supply and Demand ModelImperfect CompetitionMarket Failure and Government InterventionCost-Benefit and Cost-Effectiveness AnalysisGovernment FailureThe Economics of LaborThe economics of povertyHealth EconomicsEconomic Demography
Abstract: The Economic PerspectiveMarginal AnalysisPerfect Competition and the Supply and Demand ModelImperfect CompetitionMarket Failure and Government InterventionCost-Benefit and Cost-Effectiveness AnalysisGovernment FailureThe Economics of LaborThe Economics of PovertyHealth EconomicsEconomic Demography

Journal ArticleDOI
TL;DR: The authors put forward a precept-oriented definition of ecological economics and outlined the likely nature of these principles and what effect they will have on the policies prescribed and indicators employed by ecological economists.
Abstract: To date, attempts at determining what ecological economics is have focused on what is required to ensure a correct balance between ecology and economics; that is, on ensuring ecological economics is not too much of one and not too little of the other. This has led to the emergence of process-oriented definitions of ecological economics. While such definitions are useful, they are informative only to the extent that they reveal what the initial conception of ecological economics has involved and what process its continued evolution is likely to entail. For ecological economics to succeed, there is a need for a precept-oriented definition and the establishment of core principles to distinguish it from mainstream economics. Without core principles, and without a general consensus amongst ecological economists as to what these principles are, the confusion regarding what ecological economics is will continue. This paper puts forward a precept-oriented definition of ecological economics. It also outlines how a set of core ecological economic principles might best be established. Finally, it details the likely nature of these principles and what effect they will have on the policies prescribed and indicators employed by ecological economists.





Posted Content
TL;DR: Trillium Listed! Economics Now as discussed by the authors introduces students to basic principles of micro and macro economics, with a focus on the history of economic thought and economics on the world stage.
Abstract: Trillium Listed! Economics Now introduces students to basic principles of micro and macro economics, with a focus on the history of economic thought and economics on the world stage. It examines closely economic decision-making, including the role of government in employment and unemployment issues as well as in the global economic issues. French version Economie Contemporaine available. Please contact Cheneliere Education for details.



01 Jun 2002
TL;DR: In this article, the authors make a modest contribution to how performances of both management schools and actually trained and future business managers should be improved in order to successfully face the challenges of the next century.
Abstract: As globalisation is not anymore a dream or a simple idea, but a real and hard fact, a number of important aspects are becoming strategic issues. Among others, one could namely mention the out-borders transfer of goods, services, funds or capital, technology, manpower, information and scientific and technological knowledge. Obviously, industrial firms, business companies, financial, educational and research institutions are all and directly concerned. As the act of management implies necessarily taking decisions about all activities concerning all forms of organisations, overall performance could not be high, thus the integration into the world economy successful, unless if decisions makers are themselves well trained and armed. This should imply the following requirements: Acquiring modern conceptual tools; Being aware of best practice techniques; Having good imagination and wide culture; And mastering a number of languages. Henceforth, a high quality management education, both in public and private institutions, becomes absolutely essential. Consequently, any graduate lacking such requirements would be a bad manager of the future. The present author has a relatively long teaching experience in management sciences and managerial economics; He also has some deep thoughts about inadequacies of management training, in some of theMaghrebcountries, to the present global market conditions. On this basis, he wishes to make a modest contribution to how performances of both management schools and actually trained and future business managers should be improved in order to successfully face the challenges of the next century. In essence, he believes that the opening of private business schools in developing countries cannot be left to become a matter of financial opportunities or a simple privatisation issue. The content of courses and the teaching methods are critical questions.

Journal Article
Aaron Sin1
TL;DR: This article developed a gas station game that provides practical experience to students in this respect and found that within ten iterations of this game, students start to understand the mechanism of price determination and market economy.
Abstract: One of the more difficult concepts to teach in engineering economics is the determination of price and marketing tactics. We have developed a gas station game that provides practical experience to students in this respect. We found that within ten iterations of this game, students start to understand the mechanism of price determination and market economy.