Showing papers on "Managerial economics published in 2008"

Handbook of Experimental Economics Results

Abstract: Markets market economics of uncertainty general equilibrium and the economics games mechanisms design and policy applications non-market and organizational research institutional choice and the evolution individual choice, beliefs and behaviour methods, classroom applications.

On Behavioral-Environmental Economics

Abstract: Traditional environmental and resource economics uses rational choice theory to guide the evaluation of alternative policy options to correct market failure Behavioral economics, however, has chal

New institutional economics: a guidebook

Abstract: Twenty-one papers explore the accomplishments, limitations, and unmet needs of the field of new institutional economics. Papers discuss the theories of the firm; contracts--from bilateral sets of incentives to the multilevel governance of relations; institutions and the institutional environment; human nature and institutional analysis; the "case" for case studies in new institutional economics; new institutional econometrics--the case of research on contracting and organization; experimental methodology to inform new institutional economics issues; game theory and institutions; new institutional economics, organization, and strategy; interfirm alliances--a new institutional economics approach; governance structure and contractual design in retail chains; make-or-buy decisions--a new institutional economics approach; transaction costs, property rights, and the tools of the new institutional economics--water rights and water markets; contracting and organization in food and agriculture; buying, lobbying, or suing--interest groups' participation in policy making--a selective survey; regulation and deregulation in network industry; constitutional political economy--analyzing formal institutions at the most elementary level; new institutional economics and its application on transition and developing economies; law and economics in retrospect; the theory of the firm and its critics--a stocktaking and assessment; and the causes of institutional inefficiency--a development perspective. Brousseau is Professor of Economics at the University of Paris X and Director of EconomiX. Glachant is Professor of Economics and Head of the Electricity Reforms Group in the ADIS Research Center at the University of Paris-Sud XI. Index.

On the Explanation of Rules Using Rational Choice Models

Abstract: The attempt to explain rule variation using rational choice models faces serious problems. An important range of phenomena, such as cooperation, cartels, and more generally the rules which organize economic activity, may need to be approached on a case-by-case basis. This necessitates the redevelopment of historical, institutional, and legal sensitivities to complement the analytical and statistical techniques emphasized in economics instruction.

Market-Driven Management, Competitive Space and Global Networks

Abstract: Firms compete today in a situation of intense rivalry, in global markets that are subject to political, social and technological instability. As a result, no company can rely only on its own resources, knowledge and skills as it did in the past. Global managerial economics demands ramified, widespread and strongly interrelated organisations (networks). These complex structures favour managerial capabilities and outsourcing relations with co-makers and external partners (competitive alliances). The corporate culture therefore evolves into cross-cultural management, designed to overcome the physical limits of competition (marketspace management) and the local environment. In global markets, a network corporate culture makes it possible to create organisations with uniform structures, stimulated and checked by a system of communications networks (Internet; Intranet; Extranet), and it presupposes different levels of performance evaluation, which envisage an estimate of the strategic harmonisation (chairman leadership) and of operating armonisation (management leadership).

Managerial Economics of Non-Profit Organizations

Abstract: 1. Introduction 2. Defining Non Profit Organizations 3. The Demand for Non Profit Organizations 4. Founding a Non Profit Organization 5. Governing and Staffing Non Profit Organizations 6. Organizational Strategy and Behaviour of Non Profit Organizations 7. Marketing in Non Profit Organizations 8. Accounting in Non Profit Organizations 9. Financial Management in Non Profit Organizations 10. Gaudium et Spes

Consumer Policy in a Market Economy Considerations from the Perspective of the Economics of Information, the New Institutional Economics as well as Behavioural Economics

Abstract: The question concerning when a governmental intervention in the market system is justified has occupied economists from the very beginning and has been a controversial discussion topic for just as long. Against this background, with respect to modern consumer policy, which still represents a relatively young field in the theory of economic policy, it is vital to find sound economic reasons for governmental regulations in order to protect consumers. Therefore, the article attempts to assess what the various economic literatures have added to our understanding of good consumer policy. For this reason, those policy implications that might flow from different theoretical approaches in order to broaden the foundation of an economic justification for consumer policy will be analysed. For this purpose, the consumer policy implications of the Economics of Information will be described, including a denomination of some certain problems all of which are not covered satisfactorily by this approach. Subsequently and in order to amend the informational economics framework, further economical approaches from New Institutional Economics, Behavioural Economics as well as Behavioural Consumer Research, which provide a complementary analysis of consumer behaviour in consideration of the respective decision-making situations and determining constraints (formal and informal rules, cognitive and emotional boundaries), will be discussed comparatively with respect to their consumer policy implications.

Transaction cost economics: the precursors

Abstract: Theories commonly progress through four stages, from informal to pre-formal to semi-formal and fully formal. This paper reports on the earliest stage of transaction cost economics that extended from the 1920s to the 1970s. That the gestation stage lasted so long is partly because transaction cost economics departed significantly from the then-prevailing economic orthodoxy. Also, and related, it is an interdisciplinary undertaking. As reported herein, transaction cost economics selectively combines economics, organisation theory and law and is the product of the contributions of some of the finest minds in those three fields.

Putting Econometrics in its Place: A New Direction in Applied Economics

Abstract: Contents: Preface PART I: WHAT IS APPLIED ECONOMICS? 1. Introduction 2. Economics Will Only be Applied if it is Applied 3. Econometrics as Alchemy? PART II: THE FORMAL IN APPLIED ECONOMICS 4. The Surveyor's Dream 5. What Do the Critics Say is Wrong? 6. The Problem of the Signal-to-Noise Ratio PART III: THE VERNACULAR IN APPLIED ECONOMICS 7. Vernacular Economics 8. The Vernacular as Local Knowledge 9. Economic Research as Composition PART IV: TEN APPROACHES TO APPLIED ECONOMICS 10. Plurality: Why and What? 11. Applied Econometrics 12. Experimental Economics 13. Surveys and Questionnaires 14. Simulation 15. Engineering Economics 16. Economic History and History of Economic Thought 17. Case Studies 18. Interviews 19. Common Sense and Intuition 20. Metaphor 21. Innovative Economics: An Essential Miscellany PART V: THE FUTURE IN APPLIED ECONOMICS 22. Danger in the Present Trajectory 23. Changing Attitudes 24. How Do We Make the Future Happen? 25. Conclusion References Index

The application of industrial organization economics to supply chain management research

Abstract: Economics is a powerful discipline, with the potential for rich contributions to the younger, newer business school disciplines. This article first discusses the different ways economics can influence a business school discipline, followed by perspectives on the field of supply chain management. The core sections of the paper are, first, the influence of economics on supply chain management through empirical methods, and second, the influence of economics on supply chain through theories.

Inverse limits, economics, and backward dynamics

Abstract: We survey recent papers on the problem of backward dynamics in economics, providing along the way a glimpse at the economics perspective, a discussion of the economic models and mathematical tools involved, and a list of applicable literature in both mathematics and economics.

New Institutional Economics: New Institutional Economics, Organization, and Strategy

Abstract: Introduction Although the roots of research into business strategy were seeded in the late 1960s with Igore Ansoff and Richard Brandenburg (1967), the field broke through to the surface and began to grow quickly in the 1970s and early 1980s. In particular, 1980 was a watershed year because of the launching of the field's first major journal, the Strategic Management Journal , and Michael Porter's (1980) book, Competitive Strategy , which was heralded in the business community. Since then research into business strategy has been a “growth opportunity,” attracting scholars from many disciplines and subdisciplines and publishing an increasing number of papers each year in a widening number of journals of both general and special interest. Transaction cost economics (TCE) is one of the subdisciplines that planted seeds in the strategy field and nurtured them with notable success. The good news for those studying TCE is that the field of strategy remains fertile and, in our opinion, TCE remains a useful tool for planting many more seeds as well as for harvesting opportunities. Research into business strategy is motivated by three questions: (1) Why do some firms earn more rents than other firms, even in the same industry? (2) Why do performance differences persist? And (3) what can managers do to earn higher and enduring rents for their firms? (For a discussion, see Rumelt, Schendel, and Teece 1991.

The Economics of Digital Business Models: A Framework for Analyzing the Economics of Platforms

Abstract: The paper proposes an analytical framework for comparing different business models for producing information goods and digital services. It is based on three dimensions that also refer to contrasted literature: the economics of matching, the economics of assembling and the economics of knowledge management. Our framework attempts to identify the principal trade-offs at the core of choices among alternative digital business models, and to compare them in terms of competitiveness and efficiency. It also highlights the role played by users in the production of information goods and competition with pure suppliers.

Ouverture de 'Market-Driven Management and Global Markets - 2'

Abstract: Global markets endorse the principles of market-space competition, where competition space represents a factor of competition. Firms compete with one another in extensive markets, without geographical and administrative boundaries; they adopt highly flexible managerial directions, featuring the absolute predominance of intangible assets and aimed at exploiting global economies of scale, focused on dimension and relationship. Global markets redefine market-space competition and substantiate global managerial economics. The distinctive features of these are: asset management without physical or administrative limits; increasingly sophisticated products which are rapidly rendered obsolete because they are easily imitable at decreasing cost; competitive interrelations, developed between transnational networks, which go far beyond the multinational (or multidomestic). Globalisation changes corporate organisation and the role of strategic alliances, imposing collaborative network strategies on groups of firms with competitive relations; these then tend to form ‘closed’ relationships of cooperation to pursue a global vision in keeping with their huge corporate size.

New institutional economics

Abstract: Institutions frame behaviors and exchanges in markets, business networks, communities, and organizations throughout the world. Thanks to the pioneering work of Ronald Coase, Douglas North and Olivier Williamson, institutions are now recognized as being a key factor in explaining differences in performance between industries, nations, and regions. The fast-growing field of new institutional economics analyzes the economics of institutions and organizations using methodologies, concepts, and analytical tools from a wide range of disciplines (including political science, anthropology, sociology, management, law, and economics). With contributions from an international team of researchers, New Institutional Economics provides theoreticians, practitioners, and advanced students in economics and social sciences with a guide to the many recent developments in the field. It explains the underlying methodologies, identifies issues and questions for future research, and shows how results apply to decision making in law, economic policy, management, regulation and institutional design.

Ouverture De ‘Market-Driven Management and Global Markets - 2’

Abstract: Global markets endorse the principles of market-space competition, where competition space represents a factor of competition. Firms compete with one another in extensive markets, without geographical and administrative boundaries; they adopt highly flexible managerial directions, featuring the absolute predominance of intangible assets and aimed at exploiting global economies of scale, focused on dimension and relationship. Global markets redefine market-space competition and substantiate global managerial economics. The distinctive features of these are: asset management without physical or administrative limits; increasingly sophisticated products which are rapidly rendered obsolete because they are easily imitable at decreasing cost; competitive interrelations, developed between transnational networks, which go far beyond the multinational (or multidomestic). Globalisation changes corporate organisation and the role of strategic alliances, imposing collaborative network strategies on groups of firms with competitive relations; these then tend to form ‘closed’ relationships of cooperation to pursue a global vision in keeping with their huge corporate size.

What Has the Economics of Giving Given to Economics? The Contemporary Situation

Abstract: The "Economics of Giving" has given much to economics. A better understanding of the rigidity of labour and the relevance of philanthropic institutions to the preservation of market structures has led to many contributions in this recent economic field. This work is a survey of these contributions and it also considers the sub-fields of religious charity, the role of governmental action, and international aid. The evidence from the most recent works is highlighted and the most used theoretical models are exposed.

The human implications of management reengineering

Abstract: Redesigning corporate management represents the most important means of managerial change and has a variety of consequences – economic, social, human etc. Expressed in terms of remodeling the methodological, organizational, decision-making and informational components of the management system, management reengineering generates substantial changes in the implementation of managerial functions and, implicitly, significant managerial and economic performances. Moreover, managerial redesign makes managerial excellence possible and, through the latter, it also contributes to business excellence.

The Selfish Hegemon Must Offer a New Deal on Trade

Abstract: In the 1980s, Japan was feared in the US to be a lethal combination of Superman and the evil genius Lex Luthor in a classic case of what I have called the Diminished Giant Syndrome. Members of Congress famously smashed a Toshiba radio cassette recorder on the steps of Capitol Hill in protest in 1987. Great Britain at the turn of the 19th century had been marked by similar diffidence, despair and recrimination when Germany and the US were emerging on the world scene. There, Sir Howard Vincent entered parliament festooned with mops, pails and brushes marked “Made in Germany”.