Managerial economics

About: Managerial economics is a research topic. Over the lifetime, 1524 publications have been published within this topic receiving 83965 citations.

Art Cities, Cultural Districts and Museums

Abstract: The subject of economic valorisation has become a current topic and the idea that culture can be considered a factor of economic production, able to generate wealth, appears to have been generally accepted. The book consists of a series of essays about the economic valorisation of the cultural, artistic and environmental heritage of the art city of Florence using a business economics approach and will appeal to scholars and researchers focusing on the cultural economics and managerial economics of art and to practitioners in the cultural sector and policy makers.

Managerial Bargaining Power in the Determination of Compensation Contracts and Corporate Investment

Abstract: This paper considers the design of managerial compensation contracts and their impact on corporate investment decisions and the managerial effort decision. The model relates the compensation scheme to outside share ownership and managerial bargaining position. Using the methods of mechanism design under asymmetric information, a shift in favor of effort is documented in the case where managerial bargaining strength is weak, while a shift toward more use of capital investment results from strong managerial bargaining power. The model distinguishes managerial equity holdings from contingent compensation contracts. Our results are related to the empirical literature on pay-performance sensitivities.

Natural Science Constraints in Environmental and Resource Economics. Method and Problem

Abstract: Most, if not all, environmental problems of our time have their origin in human economic activity. In order to better understand how environmental problems arise from economic activity and how they may be solved in a sustainable manner, one needs to combine scientific expertise from the natural sciences and from economics. For, it is the domain of the natural sciences to analyze nature', while economics studies the economy'. In this study, I contribute to this interdisciplinary task in a threefold manner: (i) In Part I, I employ concepts and methods from thermodynamics in order to study how this natural science puts constraints on the transformation of energy and matter in the economic process of production. (ii) In Part II, I analyze the problem of biodiversity loss and conservation by combining concepts and methods from ecology and economics to study coupled ecological-economic systems. (iii) An underlying interest throughout this study is the methodological question of how to integrate concepts and methods from the natural sciences, such as thermodynamics or ecology, and the social sciences, such as economics. The approaches in Parts I and II are complementary in that they follow different methodological approaches to interdisciplinary integration of natural science constraints into environmental and resource economics - method-orientation and problem-orientation, respectively.