Equilibrium price formation in markets with differentially informed agents

We consider a pure exchange economy with a finite set of types of agents which have incomplete and asymmetric information on the states of nature. Our aim was to describe the equilibrium price formation and analyze how the lack of information may affect the allocation of resources. To do so, we adapt to an asymmetric information scenario a variant of the Shapley–Shubik game introduced by Dubey and Geanakoplos (J Math Econ 39:391–400, 2003 ).     

Port wine landscape: railroads, phylloxera, and agricultural science

It is easy to understand why regions that produce very fine goods such as port wine tend to conceal technological and scientific inputs and praise the uniqueness of the terroir. This paper suggests that, during the last decades of the nineteenth century, viticulture in the Douro region of Portugal was as much a product of soil, local farming traditions, and individual entrepreneurship as it was of modern state science and national politics for agricultural improvement. the unprecedented public projects of building a railroad and fighting phylloxera permanently changed the land of port wine. Moreover, those engineering practices of rationalization, simplification, and standardization that were inscribed on Douro's landscape proved essential for the Portuguese experience of modernization and nation-building.     

Job Classification for the Purpose of Making Optimal Decisions Concerning Management Control

The job classification literature has been dominated by a micro‐level orientation reflective of the needs of specialists in human resources. In contrast, we take a multidisciplinary approach involving both micro‐ and macro‐level variables to propose a relatively simple system comprised of four job classes. Our model isintended to inform management as to the type and mix of controls (e.g., centralization, formalization, and various human resources policies) that could be applied to different job types to optimally promote the overall goals of the organization. Fuzzy numbers analysis is employed to illustrate the application of the system using four jobs in a car dealership in Spain. Copyright © 2012 ASAC. Published by John Wiley & Sons, Ltd.     

ENTREPRENEURIAL EXPORTERS: The Canadian Experience

The increasing globalization of commerce has presented incalculable challenges as well as opportunities for small- and medium-sized enterprises, particularly exporting firms. This study focuses on the relationship between entrepreneurship and successful export marketing performance, testing the hypothesis that entrepreneurship is positively related to such performance. The research reveals that entrepreneurial behavior is positively correlated with export marketing behavior, suggesting both firm and government actions to boost competitiveness.     

Performance in franchising: the effects of different management styles

Various theoretical approaches uphold the relevance of the relationship between the form of management and performance. Different management styles influence the relationships of agencies [Jensen, M.C. (1998). Foundations of organizational strategy. Cambridge, MA: Harvard University Press], the cost of governing transactions [Williamson, O.E. (1985). The economics institutions of capitalism: Firms, markets, relational contracting. New York, NY: Free Press], and the allocation of resources between the exploitation and exploration of activities [March, J.G. (1991). Exploration and exploitation in organizational learning. Organization Science, 2(1), 71–87], and this is manifested in firm performance. In light of these assumptions, this article presents an empirical verification of the relationship between the management of franchises and their performance, examining how different styles of management on the part of franchisers over their franchisees have significant effects on the growth and profits of franchiser firms.     

Challenges for land system science

While considerable progress has been made in understanding land use change, land system science continues to face a number of grand challenges. This paper discusses these challenges with a focus on empirical land system studies, land system modelling and the analysis of future visions of land system change. Contemporary landscapes are contingent outcomes of past and present patterns, processes and decisions. Thus, empirical analysis of past and present land-use change has an important role in providing insights into the socio-economic and ecological processes that shape land use transitions. This is especially important with respect to gradual versus rapid land system dynamics and in understanding changes in land use intensity. Combining the strengths of empirical analysis with multi-scale modelling will lead to new insights into the processes driving land system change. New modelling methods that combine complex systems thinking at a local level with macro-level economic analysis of the land system would reconcile the multi-scale dynamics currently encapsulated in bottom-up and top-down modelling approaches. Developments in land use futures analysis could focus on integrating explorative scenarios that reflect possible outcomes with normative visions that identify desired outcomes. Such an approach would benefit from the broad and in-depth involvement of stakeholders in order to link scientific findings to political and societal decision-making culminating in a set of key choices and consequences. Land system models have an important role in supporting future land use policy, but model outputs require scientific interpretation rather than being presented as predictions. The future of land system science is strongly dependent on the research community's capacity to bring together the elements of research discussed in the paper, via empirical data collection and analysis of observed processes, computer simulation across scale levels and futures analysis of alternative, normative visions through stakeholder engagement.     

The mix of international banks’ foreign claims: Determinants and implications

We analyze the cross-country determinants and financial stability implications of the mix of international banks’ foreign claims. We distinguish between local claims – extended by host country affiliates – and cross-border claims – booked outside the receiving country. Using data on Italian, Spanish, and US banks’ foreign claims, we find that the share of local claims is driven by restrictions on banking sector openness and by local scale economies/business opportunities. The impact of limits on property rights, entry requirements, start-up and informational costs is less robust. Finally, foreign claim volatility is lower in countries with a larger share of local claims.     

An analytical model for human resource management as an enabler of organizational renewal: a framework for corporate entrepreneurship

This article presents the development of a model of types of work based on organizational theory. It analyzes the different characteristics of work and efficient forms of Management, and joins all these aspects together in terms of corporate entrepreneurship. Organizational theory provides the instruments needed to manage work, the causes that make decentralization desirable and the technical, social and institutional mechanisms for its control. The literature on corporate entrepreneurship provides material for forms of discovery or creation of opportunities based on accumulated experience in the firm, on the collective relationships linked to entrepreneurship and on the way in which resources are managed. This article contributes to existing knowledge by systematically addressing these two fields, showing how the instruments that allow for the efficient management of work are the same as those necessary for corporate entrepreneurship and how the efficient management of work is a prerequisite and an enabler of entrepreneurial activity.