The Limits to Growth — 50 Years Ago and Today

Intereconomics - The Limits to Growth was published 50 years ago. Ordered by the Club of Rome, the study was a milestone in the analysis of the economic, demographic, technical and ecological...     

Mechanism Connecting Environmental Friendliness to Service Loyalty: The Role of Positive Customer Emotions and Satisfaction

This research explores the mechanisms linking consumers’ perceptions of the environmental friendliness of service to customer loyalty. It investigates positive emotions evoked by perceptions of environmental friendliness and then links these emotions to customer satisfaction and loyalty as outcome variables. The data for testing a set of hypotheses was collected from a sample of over 150 consumers for three service industries, each. The results suggest that positive emotions in the form of “warm glow” feelings and sense of belonging are encouraged by environmental friendliness. The positive emotions have direct impacts on satisfaction, but show mixed impacts on loyalty.     

Cartels and norms in the Swedish steel industry 1923–1953

This article discusses the reasons for cartel stability by using the Swedish Steel Casting Cartel as an example. Previous research points out organisational structure and the ability to deal with exit entry and cheating as crucial for stability. In this article, the development of social norms, morally legitimised within the cartel, is discussed as a possible explanation for cartel stability. The organisational structure developed was flexible enough to deal with problems of exit entry and cheating. The discussions on quotas and prices led to a common view on fair prices. The conclusion is that the organisational structure can partly explain why the Steel Casting Group was relatively stable but that there are indications that the development of common social norms related to the value of fairness was also an important explanatory factor.     

Controlling in ?sterreichischen Familienunternehmen – dargestellt am Bundesland Ober?sterreich

Trotz der hohen volkswirtschaftlichen Bedeutung zeichnet sich das Controlling durch eine im Vergleich geringe Besch?ftigung mit dem Thema Familienunternehmen aus. Ausgehend von der Hypothese, dass Familienunternehmen in h?herem Ausma? sozio?konomische Ziele verfolgen und in geringerem Umfang Controlling-Instrumente einsetzen als Nicht-Familienunternehmen, werden die Ergebnisse einer empirischen Untersuchung für die Region Ober?sterreich pr?sentiert. Als Ergebnis dieser Studie zeigt sich, dass die Ziele der befragten Familienunternehmen – abgesehen von der H?he der geforderten Eigenkapitalrenditen – kaum von jenen der Nicht-Familienunternehmen differieren. Andererseits ist bei Familienunternehmen ein hoher Professionalisierungsgrad im Bereich des Einsatzes von Controlling-Instrumenten erkennbar.     

Consistency and asymptotic normality of maximum likelihood estimation for Gaussian Markov processes from discrete observations

In this paper we prove the weak consistency and the asymptotic normality of the maximum likelihood estimation based on discrete observations ofn independent Gaussian Markov processes. The Ornstein Uhlenbeck process is a special Gaussian Markov process. We derive asymptotic simultaneous confidence regions for the parameters of the Ornstein Uhlenbeck process as an application.     

The rate of convergence of the core for a purely competitive sequence of economies

The purpose of the paper is to show that for ‘most’ purely competitive sequences of economies on a compact set of agents' characteristics the core converges to the set of equilibria at least as fast as the inverse of the number of agents. It is assumed that agents have smooth, convex preferences with non-zero Gaussian curvature. This rate of convergence is obtained for a purely competitive sequence with regular limit distribution.     

Profit maximization mitigates competition

Summary We consider oligopolistic markets in which the notion of shareholders' utility is well-defined and compare the Bertrand-Nash equilibria in case of utility maximization with those under the usual profit maximization hypothesis. Our main result states that profit maximization leads to less price competition than utility maximization. Since profit maximization tends to raise prices, it may be regarded as beneficial for the owners as a whole. Moreover, if profit maximization is a good proxy for utility maximization, then there is no need for a general equilibrium analysis that takes the distribution of profits among consumers fully into account and partial equilibrium analysis suffices.We wish to thank Hildegard Dierker and Nina Maderner for many helpful comments. This research was partially supported by the Danish Social Science Research Council. E. Dierker is grateful to the Department of Economics, University of Copenhagen, for its outstanding hospitality. B. Grodal appreciates the support from the Department of Economics, University of Vienna.     

Carry-overs or leftovers? Tackling year-end spend-downs at the central government level

ABSTRACT

Year-end spend-downs have received a lot of attention in public policy and public administration, and a number of budgeting and accounting reforms have been made to tackle this issue. While carry-overs have been thought to be a remedy, their effect remains empirically under-investigated. This paper applies a mixed-method approach to provide empirical evidence for year-end spending surges, and to analyse the effect of changing carry-over rules in Austria. The authors uncover the reasons behind spend-downs: uncertainty about carry-overs and their use, and the risk of losing unspent appropriations and efficiency savings seem to explain year-end spend-downs. The findings offer support for prior calls in the academic literature to take time and volume limitations into account when designing and implementing carry-over rules. The evidence presented here has important implications for policy-makers and managers.     

Demografische Alterung führt zu einem stark sinkenden Erwerbspersonenpotenzial

Wirtschaftsdienst - The demographic development in Germany will lead to a declining number of people of working age and thus potentially in the labour force. The age structure is shifting towards...