Nostalgia versus Pragmatism? How attitudes and interests shape the term sustainable agriculture in Switzerland and New Zealand

National public debates on sustainable agriculture are often framed by the respective attitudes and interests of the dominant stakeholders involved.     

Real Versus Tariff Liberalization: A Welfare Comparison Under Monopolistic Competition

A distinction between real trade costs (e.g., administration, border formalities, transport costs) and tariff costs is introduced into a standard monopolistic competition trade model. Driven by the number of firms, welfare under real trade barriers turns out to be lower than under an equivalent tariff barrier. Based on this finding, the paper shows that integration or rather liberalization measures (generating a certain increase in world trade) that reduce real trade barriers generate a larger welfare gain than integration consisting of a reduction in tariffs.     

Still unanswered quibbles with fractional reserve free banking

Anthony Evans and Steven Horwitz readily admit that their own understanding of monetary theory is imperfect, and do not even “attempt a rebuttal of [our] claims.” George Selgin accepts that some of the arguments we put forward in Bagus and Howden (2010) make for “interesting theory”. He fails to rebuff our claim that precautionary reserves are unable to constrain credit creation in a fractional reserve free banking system. While calling for us to provide historical evidence to validate the quibbles we put forward, Selgin himself overstates the evidence. He also claims that we have distorted what he has written, and that we use incorrect monetary theory. These allegations are false.     

Education and its intergenerational transmission: country of origin-specific evidence for natives and immigrants from Switzerland

This study compares the intergenerational transmission of educational attainment across immigrant groups using the Swiss Census 2000. Determinants of educational outcome and educational mobility are examined. A child’s educational opportunity depends on its parental background. Not only the effect of parental human capital but also other determinants of child educational attainment vary depending on the child’s nationality. Overall educational upward mobility is more pronounced among second generation immigrants than among natives. Children of Turkish, Portuguese and former Yugoslavian origin appear to be most disadvantaged in the process of human capital formation.

Complementors as connectors: managing open innovation around digital product platforms

In the digital age, open innovation is increasingly organized around platform ecosystems. This paper investigates how firms can coordinate open innovation as a platform strategy for the development of complementary products by independent third parties. We draw on a qualitative case study of Philips Hue – a connected lighting platform for consumers with its variety of complementary products. We identify three increasingly complex ways in which independent complements connect to a focal platform. Our findings show that managing these connections requires a hybrid open innovation approach that combines arm’s length coordination, with a large number of complementors through open interfaces, and intensive bilateral collaboration, with a selected number of partners. Our findings demonstrate that complex interconnections across digital platforms and products lead to the management challenge of navigating an ‘ecology of platforms’, which warrants future research.     

INFORMATION AND PRICE DISPERSION: THEORY AND EVIDENCE

Limited information is the key element generating price dispersion in models of homogeneous-goods markets. We show that the global relationship between information and price dispersion is an inverse-U shape. We test this mechanism for the retail gasoline market using a new measure of information based on commuter data from Austria. Commuters sample gasoline prices on their commuting route, providing us with spatial variation in the share of informed consumers. Our empirical estimates are in line with the theoretical predictions. We also quantify how information affects average prices paid and the distribution of surplus in the gasoline market.     

Empirical studies of trade marks – The existing economic literature

This paper surveys empirical studies employing trade mark data that exist in the economic literature to date. In the introductory section we summarise the theory of trade marks. Section 2 documents the use of trade marks by firms of different size and industry and by firms in several advanced countries, including Australia, the UK, and the USA. Section 3 reviews various attempts to gauge the function of a trade mark as an indicator of innovation and product differentiation. Section 4 surveys studies that have demonstrated firms' incentives to use trade marks, including transferring information to consumers, realising synergies between different types of intellectual property rights, strategies to raise rivals' costs and using trade mark portfolios as debt collateral. In Section 5, we provide an overview of the importance of trade-mark-use for firm survival and the association of trade marks with several dimensions of firm performance, including productivity and their ability to generate well-paid jobs.     

Is inequality an inevitable by-product of skill-biased technical change?

This article examines trends in relative wages between high- and medium-skilled workers and between medium- and low-skilled workers in Finland, Germany, Italy, South Korea and the US over the period 1970–2005. It is found that there are large differences in the evolution wage inequality across the countries in our sample, with some countries showing a long-run upward trend in relative wages (such as the US, Germany and Italy) and others showing a long-run downward trend (such as Finland and Korea). The main conclusion from our results is that inequality is not an inevitable by-product of technological change.     

Sorting versus screening: Search frictions and competing mechanisms

In a market where sellers compete by posting trading mechanisms, we allow for a general search technology and show that its features crucially affect the equilibrium mechanism. Price posting prevails when meetings are rival, i.e., when a meeting by one buyer reduces another buyer's meeting probability. Under price posting buyers reveal their type by sorting ex-ante. Only if the meeting technology is sufficiently non-rival, price posting is not an equilibrium. Multiple buyer types then visit the same sellers who screen ex-post through auctions.