Bid Coordination in Sponsored Search Auctions: Detection Methodology and Empirical Analysis*

Bid delegation to specialized intermediaries is common in internet ad auctions. When the same intermediary bids for competing advertisers, its incentive to coordinate client bids might alter the functioning of the auctions. This study develops a methodology to detect bid coordination and presents a strategy to estimate a bound on the search engine revenue losses imposed by bid coordination. When the method is applied to data from auctions held on a major search engine, coordination is detected in 55% of the cases of delegated bidding and the search engine's revenue loss ranges between 5.3% and 10.4%.     

Welfare and sectoral productivity shifts in a small open economy with imported agricultural inputs: The case of Sub-Saharan Africa

This paper studies the impact of sectoral productivity growth on welfare in Sub-Saharan Africa. Using the analytical framework of a DSGE model, the main finding is that, for the estimated values of structural parameters, the allocation of scarce resources to the tradable agricultural sector for boosting productivity leads to a greater increase in overall welfare than would be the case if they were allocated to the non-traded goods sector.

     

The effect of competitive intensity on the relationship between strategic entrepreneurship and organizational results

International Entrepreneurship and Management Journal - Although the field of strategic entrepreneurship has received much attention in recent years, the relationship of strategic entrepreneurship...     

A flexible lattice framework for valuing options on assets paying discrete dividends and variable annuities embedding GMWB riders

In a market where a stochastic interest rate component characterizes asset dynamics, we propose a flexible lattice framework to evaluate and manage options on equities paying discrete dividends and variable annuities presenting some provisions, like a guaranteed minimum withdrawal benefit. The framework is flexible in that it allows to combine financial and demographic risk, to embed in the contract early exercise features, and to choose the dynamics for interest rates and traded assets. A computational problem arises when each dividend (when valuing an option) or withdrawal (when valuing a variable annuity) is paid, because the lattice lacks its recombining structure. The proposed model overcomes this problem associating with each node of the lattice a set of representative values of the underlying asset (when valuing an option) or of the personal subaccount (when valuing a variable annuity) chosen among all the possible ones realized at that node. Extensive numerical experiments confirm the model accuracy and efficiency.

     

Platform capitalism and neo-normative control: “Autonomy” as a digital platform control strategy in neoliberal Chile

A key element of the platform business model is concentrating great organisational power over the work process while simultaneously allowing workers certain degrees of autonomy and encouraging them to see themselves as self-employed. This study applied the neo-normative control concept to analyse the mechanisms platforms use to promote freedom of choice and self-regulation values, which are formed extra-organisationally in deeply neoliberal societies such as Chile. The Uber ride-hailing and Pedidos Ya home delivery platforms in Chile were examined using a labour process theory framework based on an ethnographic design. The results show the specific ways in which these platforms deploy forms of neo-normative control, how this deployment is anchored in the labour context of neoliberal Chilean society, and how workers re-signify, stress, or seek to subvert this control strategy. The findings' theoretical and empirical implications are discussed.     

European Climate Policy Effectiveness: Convergence Analysis for per Capita CO2 Emissions

International Advances in Economic Research -     

Development of a sustainable consumption measurement scale

Sustainable consumption has been recognized since the 1990s; however, advances in the studies have been modest and have not yielded significant breakthroughs. The urgent need to adopt sustainable consumption has been emphasized by consumers, practitioners, and researchers, but despite efforts by social and government agencies, progress in relation to adoption remains insufficient. The multivariate nature of sustainable consumption is one reason for this insufficient progress. Previously developed literature-based instruments have been univariate or limited in their dimensions and inadequate for measuring the phenomena they purport to measure. Hence, in this study, we develop a measurement scale to address this gap. The scale encompasses dimensions relevant to contemporary society and is informed by prior research and primary data. Data were collected through in-depth interviews with sustainability specialists, a nominal group technique with engaged consumers, a survey of 255 students, and a survey of 808 consumers from diverse regions of Brazil, all resulting in a heterogeneous sample. The final data analysis included an exploratory factor analysis and a confirmatory factor analysis, which resulted in a final model that comprised eight dimensions: activism, personal sacrifice, communitarianism, environmental concern, healthy food, perceived consumer effectiveness, search for information, and social concern. Of these dimensions, personal sacrifice, environmental concern, and social concern are the archetypes of the present generation. The variables of these dimensions have not been accounted for in previous scales, making our new scale more comprehensive and contributing to a better understanding of sustainable consumption. This new comprehensive scale will aid future studies in sustainable consumption, contributing to a better understanding of this construct. We expect that this scale will help improve the monitoring of the progress made in sustainable behavior and the assessment of management practices of sustainable consumption. Future studies should be carried out to validate the dimensions in different cultural contexts.     

Voluntary sustainability assurance in small and medium-sized entities: The role of country origin in Europe

The assurance of sustainability information by small and medium-sized entities (SMEs) has not attracted much research interest to date. To rectify this, we draw on a sample of European firms (from the EU, the United Kingdom and Norway) extracted from the Global Reporting Initiative (GRI) database and explore the disclosure variable in relation to country-specific factors. Assurance rates are found to be low among SMEs, and moreover, the level of disclosure is limited. The assurance market is dominated by accounting firms, above all by the Big Four. Legal origin is found to be a highly relevant factor, with Scandinavian countries presenting the highest percentage rates of sustainability report assurance. Among the cultural variables analysed, power distance, masculinity and uncertainty avoidance have a significant negative impact on the decision to assure sustainability information. Overall, the study serves to enhance understanding of SME practices in different countries of origin.