The effect of entrepreneurship education in schools on entrepreneurial outcomes: a systematic review

Management Review Quarterly - This study systematically reviewed 21 quantitative and qualitative articles on the effect of entrepreneurship education in schools. We reviewed short-term effects,...     

Libra — A Differentiated View on Facebook’s Virtual Currency Project

Intereconomics - Libra — a global virtual currency project initiated by Facebook — has been the subject of many controversial discussions since its announcement in June 2019. This paper...     

Antecedents to Decision‐Making Quality and Agility in Innovation Portfolio Management

Innovation portfolio management (IPM) is a dynamic decision‐making process, in which projects are evaluated and selected, and resources are allocated. Previous research has developed an understanding of IPM success and its influencing factors. However, little research investigated the quality of the decision‐making process and the ability to quickly adapt the portfolio. This study focuses on the antecedents of decision‐making quality and agility (i.e., responsiveness to changes in the environment). Based on a decision‐making framework, five structural and cultural IPM components are derived as important antecedents of decision‐making quality, which in turn influences agility. The structural components (1) clarity of strategic goals, (2) formality of the IPM processes, and (3) controlling intensity serve a coordinating function. The cultural components (4) innovation climate and (5) risk climate serve a motivating function in IPM. An analysis of a sample of 179 firms and their innovation portfolios through structural equation modeling using a double‐informant design documents that these five components all positively influence portfolio decision‐making quality, which in turn positively influences agility. Results further show that environmental turbulence moderates some of these relationships. While the positive effect of process formality is weakened under increasing turbulence, the effects of controlling intensity and climate for innovation are strengthened by environmental turbulence. The findings have theoretical implications for the understanding of IPM as a dynamic capability and practical implications for the management of portfolios in turbulent environments.     

Job Search and the Measurement of Unemployment in South Africa

We interrogate the distinction between searching and non‐searching unemployment in South Africa using data from the first national panel survey that tracks the individual. In particular, we test whether the non‐searching unemployed display a weaker commitment to the labour market than the searching unemployed, and we investigate what counts as search activity. We find that over the panel, the search status of the unemployed does not predict their subsequent employment status, a result that is robust also for subsamples that vary by age cohort, gender and location. Moreover, social networks are the most important job‐finding strategy of the employed. These findings challenge the exclusion of the non‐searching unemployed from the measure of “genuine” work seekers.     

Do casinos pay their customers to become risk-averse? Revising the house money effect in a field experiment

The house money effect predicts that individuals show increased risk-seeking behavior in the presence of prior windfall gains. Although the effect’s existence is widely accepted, experimental studies that compare individuals’ risk-taking behavior using house money to individuals’ risk-taking behavior using their own money produce contradictory results. This experimental field study analyzes the gambling behavior of 917 casino customers who face real losses. We find that customers who received free play at the entrance showed not higher but significantly lower levels of risk-taking behavior during their casino visit, expressed through lower average wagers. This study thus provides field evidence against the house money effect. Moreover, as a result of lower levels of risk seeking, endowed customers yield better economic results in the form of smaller own-money losses when leaving the casino.     

Marginalized Predictive Likelihood Comparisons of Linear Gaussian State‐Space Models with Applications to DSGE,DSGE‐VAR,and VAR Models

The predictive likelihood is useful for ranking models in forecast comparison exercises using Bayesian inference. We discuss how it can be estimated, by means of marzginalization, for any subset of the observables in linear Gaussian state‐space models. We compare macroeconomic density forecasts for the euro area of a DSGE model to those of a DSGE‐VAR, a BVAR and a multivariate random walk over 1999:Q1–2011:Q4. While the BVAR generally provides superior forecasts, its performance deteriorates substantially with the onset of the Great Recession. This is particularly notable for longer‐horizon real GDP forecasts, where the DSGE and DSGE‐VAR models perform better. Copyright © 2016 John Wiley & Sons, Ltd.     

‘Stop Being a Tourist!’ New Dynamics of Urban Tourism in Berlin‐Kreuzberg

Berlin is witnessing a massive tourism boom, and parts of it can be described as ‘new urban tourism’, which shows a preference for off the beaten track areas and ‘authentic’ experiences of the city. This form of tourism seems especially salient in Kreuzberg. It is here that an openly articulated critique of tourism attracted national attention in 2011 and has not ceased to do so since. This article aims to better understand the conflictive potential of (new urban) tourism in Kreuzberg. We argue that the readily expressed negative attitudes against tourists and the easily accepted link between tourism and gentrification have to be explained against the backdrop of certain housing‐market dynamics. Rising rents and a diminution in the number of flats available for rent are fuelling fears of gentrification in Kreuzberg, while the interest shown in new urban tourism and the comparatively low‐priced real‐estate market in Berlin result in a growing number of holiday flats. Although adding only slightly to the tightening of the housing market, holiday flats render complex processes of neighborhood change visible and further sustain an already prevalent tourism critique.