Towards a theory of platform dynamics

I introduce a dynamic framework to analyze platforms. The (single) platform owner sets prices at the beginning of each period. Agents (buyers, sellers, readers, consumers, merchants, etc.) make platform membership decisions occasionally. I show that an optimal platform pricing addresses two externalities: across sides and across time periods. This results in optimal prices which depend on platform size in a nontrivial way. By means of numerical simulations, I examine the determinants of equilibrium platform size, showing that the stationary distribution of platform size may be bimodal, that is, with some probability the platform remains very low or takes very long to increase in size. I also contrast the dynamics of proprietary versus nonproprietary (i.e., zero‐priced) platforms, and consider the specific case of asymmetric platforms (one side cares about the other but not vice versa).     

Towards a theory of the labor market with a public sector

The object is to specify and analyze equilibrium in a labor market with frictions when there is a significant public sector. In the vast majority of equilibrium studies on labor markets, a public sector has been ruled out by assumption. This seems a strange oversight as about 17% of workers in the US are public sector workers, whereas in western Europe, approximately 22% of workers work in the public sector. The goal in this study is to provide answers to such questions as: what happens to private sector wages if the public sector is increased? If the Government increases the number of public sector jobs, does this crowd out private sector jobs? When will private sector wages be greater (less) than the public sector wage? Reasonably complete answers to these questions (and others) are provided within the context of the model developed.     

Towards a contingency theory of corporate planning: a systematic literature review

A major research stream examines corporate planning in its context by drawing on the contingency approach, which forms a major theoretical basis for the fields of strategic management and management control. This research paper provides a comprehensive review of this research stream and identifies important contingency factors, recurring results, and commonalities with the theoretical basis of the contingency approach. It reviews 195 studies that investigate the context factors of corporate planning at the organizational level of analysis and were published in ranked academic journals since 1967. This review contributes three findings to a contingency theory of corporate planning. First, this research stream is highly fragmented, replication of findings is scarce, and the cumulative growth of knowledge is restricted. My review shows that 866 different causal models link 30 context factors and 54 design aspects of the corporate planning system, and yet 498 of these causal models are only addressed in one single study. Second, the majority of contingency studies employ the selection fit approach and cross-sectional data. The more rigorous tests of contingency hypotheses, interaction fit and system fit approaches based on longitudinal data, are relatively scarce. Third, this review highlights consistent results across divergent research settings and designs. Thus, it identifies four important context factors of a corporate planning system: (a) management and planning philosophy, (b) organizational size, (c) environmental uncertainty, and (d) task interdependence. This comprehensive set of context factors facilitates the development of a more pronounced contingency theory of corporate planning.     

On the theory of optimal government behaviour

A small politico-economic model of the U.S. is presented. Optimal policies for a vote-maximising government and an ideology-maximising government are derived. Different assumptions concerning the expectation formation mechanism and the discount rates of voters and government are employed. Though the structure of the cycle depends on the specific assumptions, it turns out that in most cases it is advantageous for the government to produce a ‘political business cycle’. Therefore it is asked how voters can force government to choose the socially optimal policy.     

Towards understanding the foundations of Deming's theory of management

W. Edwards Deming's management writings are used to deduce a set of axioms which can be viewed as the most basic assumptions or the foundation of his theory of management. These axioms are used to deduce some of the propositions that are the most important tenets of Deming's management theory. The relationship between Deming's familiar 14 points for management and the axioms and propositions are discussed. Issues that practicing managers need to address when implementing Deming's management philosophy are discussed.     

最佳城市规模理论的三种研究方法

传统的最佳城市规模理论的研究方法主要是成本收益法和经验研究法,成本收益法理论上是合理的,但应用性相对较弱,经验研究法结论丰富,但一定程度上忽视了城市化经济与地方化经济的关联性.最新的城市环境法,依据相关的测度指标,通过对经济、社会、环境的相互作用的研究来确定最佳城市规模.     

Dorfman on economic interpretation of optimal control theory: An extension

In the context of a more general model of capital accumulation involving time lags in the response of the state variable (the rate of change of the capital stock) to changes in the values of the decision variables, we establish the main propositions of Optimal Control Theory by means of economic analysis.

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Riassunto Robert Dorfman [3] ha mostrato come ricavare le principali proposizioni della teoria del Controllo Ottimale attraverso l'analisi economica. Il modello d'accumulazione del capitale che lui ha formulato assume che il tasso di cambiamento dello stock di capitale risponderà instantaneamente sia ai valori delle variabili di controllo sia ai valori della variabile di stato.Noi ci proponiamo, qui di estendere il modello formulato da Dorfman con l'inclusione dilags temporali nella risposta dello tasso di cambiamento delle variabili di controllo. Stabiliamo anche quello che abbiamo denominato «the Extended Maximum Principle» usando sostanzialmente le idee di base della teoria del capitale. Infine noi mostriamo che le condizioni necessarie per l'esistenza di una soluzione ottima del nostro problema coincidono con quelle ricavate dall'analisi economica.

     

A simplified treatment of the theory of optimal regulation of Brownian motion

Consider a stochastic control problem where the state variable follows a Brownian motion. The flow reward is a function of the state, which can be regulated with a lump-sum and linear cost of adjustment. Using a discrete approximation, a simple exposition of the control problem is developed. The value matching conditions that hold for any given control parameters, and the smooth pasting conditions that hold for the optimal control are derived. Some extensions and economic applications of the method are also discussed.     

通往理性繁荣之路—2011（第十一届）中国企业“未来之星”年会综述

如果以10为圆满,那么中国企业家“未来之星”年会举办到2011年的第11届,则标志着一个新的起点。     

与市长论“道”

城市道路改建不仅是疏通城市血液管道 ,而且也是关系到改善城市市容市貌等一系列相关问题。为了科学有效地解决城市道路改建问题 ,应以专家系统作为突破口 ,成立市长、专家、市民三方组成的城市道路改建指导委员会 ,抓住道路交叉的点 ,整治沿街铺面与人行道的线 ,从而带动城市主要干道的面。城市决策者们要牢固树立为市民服务和负责的意识 ,摒弃长官作风和感情用事 ,认真严肃地对待城市道路改建问题     

Efficient and optimal programs when investment is irreversible: A duality theory

An attempt is made in this paper to formulate a satisfactory duality theory of efficient and optimal programs in intertemporal models with irreversible inveatment. The introduction of the constraint that depreciated capital stock cannot be used for present consumption makes the meaningful choice and interpretation of dual variables a more difficult problem, as is pointed out by means of an example. A new definition of a competitive program is introduced, and this is seen to lead to useful characterizations of efficient and optimal programs.     

Towards a Reinachian Ontology of Television

A bstract . Any study in ontology is faced with the difficulty that, if the investigation is to be successful, the ontological status of the subject under investigation must be determined prior to selecting the method of analysis. This paper argues that Reinach's methodology, which depends upon insights into intelligible structures or essences, cannot be successfully applied to an investigation of television, because television lacks the essential unity necessary for even the possibility of such an insight.     

Towards a better understanding of correlation

Correlation is often used to assess both independence and linearity in two dimensions, but is not well understood in higher dimensions. Here we take a closer look at these uses of correlation in two dimensions and how these assessments might be extended to higher dimensions. Our discussion will focus on the simple case of understanding the nature of correlation for association models for two- and three-way contingency tables, but can also be considered in a more general setting.     

Towards a Social Theory of Agency

We challenge critics of agency theory who suggest that agency theory's value does not extend outside a narrow context dominated by egocentric agents seeking only to maximize wealth at the expense of the principal. Instead, we argue that agency theory's flexibility allows for its application to a variety of non‐traditional settings where the key elements of agency theory, such as self‐interest, information asymmetry, and the mechanisms used to control agency costs can vary beyond the narrow assumptions implied in traditional agency‐based research. We suggest that extending agency theory to diverse settings using a deductive approach can be accomplished by formally recognizing and incorporating the institutional context surrounding principal–agent (P–A) relations into agency‐based models. Thus, criticisms that agency theory fails to acknowledge the social context in which P–A relations occur provides not a barrier but an opportunity for extending our understanding of P–A relations to a variety of diverse contexts.