A nearly perfect market?

Internet shopbots allow consumers to almost instantly compare prices and other characteristics from dozens of sellers via a single website. We estimate the magnitude of consumer search costs and benefits using data from a major shopbot for books. For the median consumer, the estimated benefit from simply scrolling down to search lower screens is $6.55. This amounts to about 60% of the observed price dispersion and suggests that consumers face significant search costs, even in this “nearly-perfect” market. Price elasticities are relatively high compared to offline markets (−7 to −10 in our base model). Furthermore, contrary to the common assumption, search intensity is not correlated with greater price sensitivity. Instead, consumers who search multiple screens put relatively more weight on non-price factors like brand.     

Innovation trends and industrial renewal in Finland and Sweden 1970–2013

We examine trends in innovation output for two highly ranked innovative countries: Finland and Sweden (1970–2013). Our novel dataset, collected using the LBIO (literature-based innovation output) method, suggests that the innovation trends are positive for both countries, despite an extended downturn in the 1980s. The findings cast some doubt on the proposition that the current stagnation of many developed countries is due to a lack of innovation and investment opportunities. Our data show that Finland catches up to, and passes, Sweden in innovation output in the 1990s. In per capita terms, Finland stays ahead throughout the period. We find that the strong Finnish performance is largely driven by innovation increase in just a handfull of sectors, but is not restricted to few companies. Both countries saw a rise in innovation during the dot-com era and the structural changes that followed. Since 2000 however, Sweden has outperformed Finland in terms of total innovations, especially in machinery and ICT, while the Finnish rate of innovation has stabilised. We suggest that these patterns may be explained by different paths of industrial renewal.     

Paid and Unpaid Labour in Non‐Profit Organizations: Does the Substitution Effect Exist?

In non‐profit organizations (NPOs), volunteers often work alongside paid workers. Such a co‐production setting can lead to tension between the two worker groups. This article examines for the first time if and how volunteers influence the separation of paid employees, and thus it contributes to the debate over whether volunteers can substitute paid workers. Using Austrian data at the organizational level, we find a significant impact of volunteers on the separations of paid workers in NPOs facing increased competition. These findings support the assumption that a partial substitution effect exists between paid workers and volunteers.     

Feminist Economics: Theoretical and Political Dimensions

Feminist economics is a school of economic thought and political action that gained important visibility during the 1990s, although its origins can be dated back to the mid‐19^th century. Since then, feminist economics has developed its own concepts, analytical frameworks, and methodologies. With gender as a central category, it seeks a more integral and humane comprehension of the economy and of the processes of inclusion and exclusion taking place in it. In addition, feminist economics has grown into a political practice that aims at improving the functioning of the economic system so that all people can have access to a dignified life on the basis of equality. This article presents a general systematization of these theoretical and political dimensions, particularly focusing on the critique of the neoclassical paradigm and its political correlates. We connect the epistemological, methodological, and conceptual contributions of feminist economics, as well as its propositions for transformative action, to specific debates on economic issues, such as the ecological emergency, crisis and austerity, the commodification of life, and the liberalization of trade.     

¿Pacto de clase positivo en la producción globalizada? El Protocolo de Libertad Sindical de la industria indonesia de prendas deportivas

Los autores investigan las posibilidades de «mejora social impulsada por los trabajadores» a través de iniciativas de RSE en cadenas mundiales de valor (CMV). Aplican la teoría de Wright sobre el pacto de clase positivo al análisis del Protocolo de Libertad Sindical concluido en el sector de prendas deportivas de Indonesia, ampliándola para adaptarla a la complejidad de las CMV. A partir de entrevistas, fuentes académicas y periodísticas y observación participante, concluyen que, para que dichas iniciativas impulsen el trabajo decente, se requiere la participación de organizaciones de trabajadores fuertes y, como catalizador, una necesidad de cooperar con ellas por parte de los compradores o los productores.     

Energy availability from livestock and agricultural productivity in Europe, 1815–1913: a new comparison

This article explores the proposition that a reason for high agricultural productivity in the early nineteenth century was relatively high energy availability from draught animals. The article is based on the collection of extensive new data indicating different trends in draught power availability and the efficiency of its use in different countries of Europe. This article shows that the proposition does not hold, and demonstrates that, although towards the end of the nineteenth century England had relatively high numbers of draught animals per agricultural worker, it also had low number of workers and animals per hectare, indicating the high efficiency of muscle power, rather than an abundance of such power. The higher efficiency was related to a specialization on less labour-intensive farming and a preference for horses over oxen.