Estimating first-price auctions with an unknown number of bidders: A misclassification approach

In this paper, we consider nonparametric identification and estimation of first-price auction models when N^∗$N^{\ast }$, the number of potential bidders, is unknown to the researcher, but observed by bidders. Exploiting results from the recent econometric literature on models with misclassification error, we develop a nonparametric procedure for recovering the distribution of bids conditional on the unknown N^∗$N^{\ast }$. Monte Carlo results illustrate that the procedure works well in practice. We present illustrative evidence from a dataset of procurement auctions, which shows that accounting for the unobservability of N^∗$N^{\ast }$ can lead to economically meaningful differences in the estimates of bidders’ profit margins.     

Using price distributions to estimate search costs

We show how the equilibrium restrictions implied by standard search models can be used to estimate search‐cost distributions using price data alone. We consider both sequential and non‐sequential search strategies, and develop estimation methodologies that exploit equilibrium restrictions to recover estimates of search‐cost heterogeneity that are theoretically consistent with the search models. We illustrate the method using online prices for several economics and statistics textbooks.     

The institutional legacy of the Ottoman Empire: Islamic rule and financial development in South Eastern Europe

This paper uses a historical experiment - the occupation of South Eastern Europe by the Ottoman Empire - to shed light on the persistence of financial development. Interest-lending prohibition persisted under Islamic rule much longer than in the rest of Europe. The unique history and political fragmentation of the region allows investigating within-country effects, in six countries that were formerly only partly occupied by the Ottoman Empire. Former Islamic rule is consistently associated with lower contemporaneous formal financial development, both across and within countries. It is associated with a decrease in bank penetration by 10% across countries and 4% within countries. However, within country, the effect of the Ottoman Empire is confined to financial development. There is no association between former Ottoman rule, income, small and medium sized enterprise development or entrepreneurship. The effect is robust to controlling for a wide number of observable characteristics. Moreover, localities with Armenian, Jewish or Greek minorities, who were allowed to practice interest lending under Ottoman rule, have higher levels of bank penetration. By contrast, Islamic religion and trust in the financial system play no role in explaining such long-term persistence.     

Intervention or Persuasion? Strategies for Turnaround of Poorly-Performing Councils

This article provides early results from a long-term evaluation of the turnaround strategies by poorly-performing local authorities in England. The history and theory behind central government interventions into local government is reviewed, focusing on the Comprehensive Performance Assessment (CPA). The journeys taken by 10 local authorities, after being labelled as 'poor' or 'weak', are described and these responses are located within the literature on theories of turnaround and public sector service improvement. The authors conclude by setting out a research agenda for the future.     

Descriptive Analysis of Saskatchewan Organic Producers

A total of 69 Saskatchewan organic producers were surveyed in the spring of 1991. Although Saskatchewan organic farming represents a move toward an alternative conventional system of agriculture it is not a complete reversal from conventional practices. Saskatchewan organic farmers are experimenting with highly integrated systems which incorporate green manure crops and soil testing and require high management and marketing skills. In a study of then-goals and objectives using fuzzy sets, environment and healthy food were ranked above farm survival. This leads to the conclusion that most organic farmers do not adopt organic practices based on purely economic criteria but on higher goals within their own hierarchy.     

Gendering consumer ethics

Consumer ethics research has greatly enhanced our knowledge of the social and environmental consequences and considerations of consumption choices. We argue, however, that gender theory introduces important aspects of ethical enquiry currently overlooked. To build our argument, we undertake a critical literature review that assesses current gender theory and related applications in gender and consumption research. In doing so, we offer a conceptual pathway that elucidates the intersection of gender with consumer ethics in relation to three distinct levels of understanding; socio‐economic, embodied‐affective and representational. Although fundamentally intertwined, for our current purposes, these are analytically distinct. Implications and avenues for future research into gendering consumer ethics are discussed.     

Rethinking contextual ambidexterity through parallel structures

This paper offers an alternative perspective on achieving contextual ambidexterity in organizations. Building on a collaborative research project within Renault’s Innovation Department, we identified that the corporate Fab Lab acted as a parallel structure in support of contextual ambidexterity. These findings provide three main contributions. First, we locate a source of contextual ambidexterity outside of the traditional business unit. In doing so, we challenge the dominant focus on managers, and show that, despite non-supportive contexts, employees can demonstrate ambidextrous skills through individual autonomous initiatives and bootlegging behaviors. Second, we delineate four key functions and related features – spatial, technical, methodological, and cultural – of parallel structures that nurture contextual ambidexterity. Finally, we recommend that the facilitation of a parallel structure should combine both flexibility and stability.     

The Registrar in the John Lewis Partnership: a Lesson in Loyalty

The philosophy of the John Lewis Partnership is exemplified by the unique role of the Branch Registrar and her responsibilities to promote partnership. The author has wide international experience of accountancy and general management in the retail trade, and is currently a freelance lecturer on management and marketing. Her latest work is Integrative Management - Creating Unity from Diversity (Blackwell 1991).