Max Weber

A bstract .   This paper argues that Weber's outline and research program is only of limited relevance for present-day economic sociology and heterodox economics because Weber had a rather narrow and static understanding of rationality and the economy. Uncertainty, both as a basic fact of economic life and in the interpretation of what rational action means in specific contexts, is missing in his approach. After a short discussion of the secondary literature on Weber's methodology, the paper focuses on the most important writings of Weber on methods and economics (e.g., his outline and some parts of Economy and Society ). The result of our investigation is that Weber shared a rather narrow, neoclassical understanding of the Austrian variant of economics. His important construction of goal-oriented behavior as the major methodological advice to analyze human action presupposes the idealized assumptions of perfect knowledge. His understanding of the market exchange process, price setting, and the functioning of full competition are rather conventional and elementary. Weber's genius did not materialize in the field of economics, but in his sociology of religion and law and in his sociology of domination.     

Is Publicity Always Better than Advertising? The Role of Brand Reputation in Communicating Corporate Social Responsibility

Previous studies on corporate social responsibility (CSR) communication suggest that firms’ social initiatives should be communicated through third-party, non-corporate sources because they are perceived as unbiased and therefore reduce consumer skepticism. In this article, we extend existing research by showing that source effects in the communication of social sponsorships are contingent on the brand’s pre-existing reputation. We argue that the congruence between the credibility and trustworthiness of the message source and the brand helps predict consumer responses to a social sponsorship. The results show that a non-corporate source (publicity) generates more positive brand evaluations than a corporate source (advertising) when the sponsor has a positive reputation. However, the converse effect occurs when brand reputation is low: when the sponsor has a poor reputation, a corporate source generates more positive brand evaluations than a non-corporate source. Mediation analyses show that the interaction effect between CSR information source and brand reputation can be explained by sponsorship attitude, persuasion knowledge, and perceived fit between the brand and the cause.     

Do regional payroll tax reductions boost employment?

Using a Difference-in-Differences approach, we evaluate the effects of a 10 percentage point reduction in the payroll tax introduced in 2002 in northern Sweden. We find no employment effects among firms existing both before and after the reform, whereas the average wage bill per employee increases by about 0.25% per percentage point reduction in the tax rate. Extending the analysis to include entry and exit of firms, we find evidence of positive effects on the number of firms and a tendency to positive employment effects. Moreover, the wage incidence estimates become insignificant when we account for entry and exit of firms.     

Linkages among Interest Rates in the United States, Germany and Norway

The Johansen multivariate cointegration methodology is used to analyze relationships among short-term and long-term interest rates in the United States, Germany and Norway. A variance decomposition approach is applied to estimate the proportion of each interest rate's forecast error variance attributable to innovations in the other interest rates. Impulse response functions are plotted to illustrate the speed with which interest rate events are transmitted between capital markets. The analyses illustrate that US interest rates have a significant influence on both German and Norwegian interest rates, while the reverse effect is modest. Norway is also strongly exposed to German interest rate movements, which reflects the consequences of a small country linking its currency to the value of European currencies.     

Influence of circadian rhythms on television viewers’ behaviour: is there a need for new programming?

As a common activity, television (TV) watching plays an important role in leisure behaviour. The influence of circadian rhythms on nearly all aspects of leisure behaviour and social life has been well examined in many fields. Less is known about circadian influences on TV use/social behaviour, and inconsistent findings have been reported. We analysed epidemiologic data from public TV stations to interpret them in light of circadian/seasonal rhythms and their interaction with leisure behaviour with the goal of improving quality of life by using TV as a pure leisure activity. We found that TV programme schedules failed to synchronise with circadian rhythms. Problems with synchronisation were observed for all viewers and were significantly related to factors such as working behaviour and social activities. Future studies should focus on the circadian influence on TV watching as a leisure behaviour. We propose a newly defined schedule based on circadian influences.     

Factor price equalization? The cointegration approach revisited

Conclusions Absolute factor price equalization across countries is a key prediction of the Heckscher-Ohlin-Samuleson model of international trade, one of the more influential “workhorse” models in economics. Despite its theoretical might, the factor price equalization hypothesis has received surprisingly little empirical support. In an important exception to the rule, Burgman and Geppert (1993) argue that this might be due to the neglect of the non-stationarity of the time series under consideration. And indeed, applying a cointegration approach to (nominal) unit labor costs in six major industrialized countries (Canada, France, Germany, Japan, the United Kingdom, and the United States), they find evidence of long-run factor price co-movement. This finding can be interpreted as being in line with equalization of factor prices amongst these countries.     

Learning entrepreneurship from a constructivist perspective

The aim of this article is to present a learning theory (constructivist theory) that supports and explains a lot of the requested changes in entrepreneurship education. It also explains how entrepreneurs learn and serves as a basis for designing entrepreneurship programs. If we look at the 'skills' and competencies of entrepreneurs from a constructivist's perspective we find most of them by observing children under the age of five or six: they are motivated to learn, they are interested in a variety of different topics, they ask excellent questions, they try many things to get insights, they are creative, they are impatient. In short, they create and govern their own learning process, which is open for any content, style, goal, experience, etc., and allows them to take every opportunity to answer the question in concern. In this sense it is similar to the entrepreneurial process where the entrepreneur tries everything and is ready to learn what is needed to be successful.     

Customers’ everyday understanding of ‘value’ from a second-order cybernetic perspective

ABSTRACT

Value is in the centre of service and marketing. However, what does value mean to customers? The purpose of the paper is to contribute to an understanding of value from a customers’ perspective using a second-order cybernetics approach. We found that the word ‘value’ is recursively linked to 13 different ‘meanings’ indicating a variety of understandings of the term ‘value’. Furthermore, the findings support service-dominant logic where customers integrate their own resources (skills and knowledge) in the value co-creation process. Future research has to be aware of the different meanings, which are associated with value. Marketing managers need to understand, on the one hand, that value has a different meaning to their customer and on the other hand, what value means to their specific target groups.