Entrepreneurship as Recombinant Growth

The paper presents a model of the entrepreneur as an undertaker of new combinations of ideas. Technology is seen as a set of ideas in a metric technology space where new knowledge is created by the combination of older ideas in the spirit of Schumpeter (1934), Weitzman (1998) and Olsson (2000). Given some intuitive assumptions, we demonstrate that technological progress generated by the convex combination of ideas is constrained by five factors: First, the combinatory process eventually leads to the exhaustion of technological opportunity. Second, the cost of combining ideas increases with the technological distance between the originating ideas. Third, profits are maximized when ideas are combined that are technologically close. Fourth, the technology set is constrained by a social possibility set of socially acceptable ideas. Fifth, the boundaries implied by the ruling technological paradigm limit the scope for eternal recombinant growth.     

Being active when judging risks: bodily states interfere with accurate risk analysis

Research on embodiment shows that bodily states influence affect and cognition, but embodiment theories have hardly been applied to risk research. Understanding how the bodily state of being physically active interferes with accurate risk judgments is especially important in risky activities, such as risk sports or even biking in the city. The present investigation consisted of two field studies (Study 1, N = 45; Study 2, N = 110) and one experimental study (Study 3, N = 44) examining the influence of physical activity on risk judgments. In Study 1, backcountry skiers judged risks of backcountry skiing while on tour and in Study 2 indoor climbers judged climbing risks. In Study 3, participants were riding on a stationary bicycle in the laboratory and judged risks related and unrelated to that activity. It was found that physical activity can decrease the perceived likelihood of risks, both related and unrelated to the activity, and that this effect is moderated by experience.     

Individualist Economic Values and Self-Interest: The Problem in the Puritan Ethic

The Puritan ethic is conventionally interpreted as a set of individualistic values that encourage a degree of self-interest inimical to the good of organizations and society. A closer reading of original Puritan moralists reveals a different ethic. Puritan moralists simultaneously legitimated economic individualism while urging individuals to work for the common good. They contrasted self-interest and the common good, which they understood to be the sinful and moral ends, respectively, of economic individualism. This polarity can be found in all the details of their moral system, including the Puritan understanding of vocation, economic virtues, property rights, contracts, wealth and poverty, market prices and interest, and the proper economic role of government. The efforts of contemporary ethics to confront the problem of self-interest in business organizations and society would be enriched by a rediscovery of the Puritan understanding of self as a fundamental problem for any individualistic value system.     

The Relationship between Organizational Culture and Energy Performance: A Municipal Energy Manager Level Study

For energy managers, finding personal meaning in the activities they are engaged in and gaining an identity in connection between energy efficiency and organizational goals is a necessary condition to mobilize passion and commitment, which in turn are fundamental to achieve organizational goals under tight budget constraints. Despite this, little is known about how municipalities, which are typical budget‐constrained organizations, can enhance the empowerment of employees with roles as energy managers. This paper draws from the literature on the person–organization fit in order to adapt and test the hypothesis that multiple dimensions of organizational culture are strong predictors of perceived managerial and technical energy performance. Data from 729 questionnaire responses from energy managers of Italian municipalities show that formalization, team orientation, innovation, centralization and reward systems are the key elements that enable energy managers to act as business partners instead of task managers. Causal relations are discussed and presented along with theoretical and policy implications that can provide inspiration also to private organizations. Copyright © 2017 John Wiley & Sons, Ltd and ERP Environment     

The Effects of Integrated Pollution Prevention and Control (IPPC) Regulation on Company Management and Competitiveness

In the literature there are several studies about the effects of environmental policies and regulations on the management and competitiveness of businesses. Some of these studies focus on the Integrated Pollution Prevention and Control (IPPC) Directive, but only a few investigate the effects of IPPC permits in depth. This paper aims to bridge this gap by illustrating the results of cross‐country empirical research. We analyse 225 IPPC permits of companies located in seven European regions and issued by different competent authorities. Results show differences in terms of requirements, emission limit values and monitoring frequencies, which are not always justifiable by the flexibility afforded by the Directive. These differences have different impacts on the competitive strategies and environmental management of companies within the same sector but located in different countries. We explore how some differences could influence company costs, contributing to the literature debate about the effects of direct regulation on competitiveness. Copyright © 2013 John Wiley & Sons, Ltd and ERP Environment.     

Adaptation Measures of Energy and Utility Companies to Cope with Water Scarcity Induced by Climate Change

Resource‐intensive business plays a fundamental role in causing climate change through the emission of large amounts of GHGs (greenhouse gases), and, in turn, climate‐induced physical changes affect companies. The IPCC (Intergovernmental Panel on Climate Change) reports an increase in the frequency and severity of extreme weather and climate events (IPCC, 2012). Droughts represent a major challenge for energy and water businesses, in terms of both exacerbation of dry climates and increase in the number of territories that experience water shortage. On the basis of an analysis of the energy and utility companies operating in different continents, the objective of this empirical research is twofold: on the one hand, it examines how these companies perceive the changes in water availability induced by climate change (as well as the potential impacts on business); on the other hand, it analyses the corresponding measures that these companies adopt to cope with changes in hydrology and water resources driven by climate change. Data from the Carbon Disclosure Project (CDP) provide valuable information about business climate‐related responses of several of the world's largest firms. Our results show that, in the energy and water sectors, some adaptive measures are starting to be implemented to deal not only with the risks but also with the opportunities related to climate‐induced physical changes, thus leading to interesting innovation. The paper concludes that anticipated positive effects could drive energy and utility companies towards a proactive stance to achieve a competitive advantage and trigger innovative trajectories. Copyright © 2014 John Wiley & Sons, Ltd and ERP Environment     

Zu früh geboren

Zusammenfassung  Das Heidelberger Konzept der Frühgeborenenversorgung — Frühgeborene haben einen schweren Start ins Leben, meistens überstehen sie die ersten Wochen nur mit Hilfe der High-Tech-Intensivmedizin. Heute ist es m?glich, ab der Vollendung der 23. Schwangerschaftswoche das überleben eines frühgeborenen Kindes zu sichern und es besteht eine reale Chance, gravierende Behinderungen zu vermeiden. Um das zu erreichen, muss sich die Betreuung auch auf das unreife Gehirn des frühgeborenen Kindes ausrichten.     

Happiness Research: State and Prospects

This paper intends to provide an evaluation of where the economic research on happiness stands and in which interesting directions it might develop. First, the current state of the research on happiness in economics is briefly discussed. We emphasize the potential of happiness research in testing competing theories of individual behavior. Second, the crucial issue of causality is taken up illustrating it for a particular case, namely whether marriage makes people happy or whether happy people get married. Third, happiness research is taken up as a new approach to measuring utility in the context of cost-benefit analysis.