Optimal choice of characteristics for a nonexcludable good

In this model, a principal decides whether to produce one indivisible good and which characteristics it contains. Agents are differentiated along two substitutable dimensions: a vertical parameter that captures their valuation for the good, and a horizontal parameter that captures their disutility when the characteristics are distant from their preferred ones. When valuations are private information, the principal produces a good with characteristics more on the lines of the preferences of the agent with the lowest valuation. Under asymmetric information on the horizontal dimension, the principal biases the decision in favor of the agent who incurs the highest disutility.     

Creating University Spin‐Offs: A Science‐Based Design Perspective*

Academic entrepreneurship by means of university spin‐offs commercializes technological breakthroughs, which may otherwise remain unexploited. However, many universities face difficulties in creating spin‐offs. This article adopts a science‐based design approach to connect scholarly research with the pragmatics of effectively creating university spin‐offs. This approach serves to link the practice of university spin‐off creation, via design principles, to the scholarly knowledge in this area. As such, science‐based design promotes the interplay between emergent and deliberate design processes. This framework is used to develop a set of design principles that are practice based as well as grounded in the existing body of research on university spin‐offs. A case‐study of spin‐off creation at a Dutch university illustrates the interplay between initial processes characterized by emergent design and the subsequent process that was more deliberate in nature. This case study also suggests there are two fundamentally different phases in building capacity for university spin‐off creation. First, an infrastructure for spin‐off creation (including a collaborative network of investors, managers and advisors) is developed that then enables support activities to individual spin‐off ventures. This study concludes that to build and increase capacity for creating spin‐offs, universities should do the following: (1) create university‐wide awareness of entrepreneurship opportunities, stimulate the development of entrepreneurial ideas, and subsequently screen entrepreneurs and ideas by programs targeted at students and academic staff; (2) support start‐up teams in composing and learning the right mix of venturing skills and knowledge by providing access to advice, coaching, and training; (3) help starters in obtaining access to resources and developing their social capital by creating a collaborative network organization of investors, managers, and advisors; (4) set clear and supportive rules and procedures that regulate the university spin‐off process, enhance fair treatment of involved parties, and separate spin‐off processes from academic research and teaching; and (5) shape a university culture that reinforces academic entrepreneurship by creating norms and exemplars that motivate entrepreneurial behavior. These and other results of this study illustrate how science‐based design can connect scholarly research to the pragmatics of actually creating spin‐offs in academic institutions.     

The conscious consumer: taking a flexible approach to ethical behaviour

This paper considers the ethical purchasing of what is described as conscious consumers. Conscious consumers remain a ‘work in progress’, and present a complex mix of behaviours; while seeking ethical alternatives, other social and economic forces impact on their behaviour (e.g. family, convenience, price) such that positive ethical choices are not always made. Examining ethical consumption in this way reveals the ‘competing priorities, paradoxical outcomes, and the nature of compromises reached in real decision processes’. We identify two areas of theory relevant to the conceptualization of such consumers, flexibility and dissonance theory. A qualitative study of participants identified as conscious consumers was undertaken. As anticipated, the participants revealed a range of often contradictory behaviours regarding their ethical purchases. The relevance of flexibility and dissonance theory to their behaviour is discussed.     

Competition, Incentives, and Productivity in Chinese Township and Village Enterprises

Alternative explanations for the success of Chinese TVEs in the face of ambiguous property rights and incomplete markets are critically reviewed. The paper argues that, increasingly, competitive product markets and managerial incentives constitute the most plausible explanations. In view of the general lack of empirical tests for many of these explanations, the study tests for the relevance and relative importance of these factors with a sample of 200 large TVEs. Cross-section results for 1985 and 1989 provide relatively strong support for the relevance of product market competition, bonuses, proxies for technology access and local infrastructure on productivity. The effects on productivity of proxies for labor market and financial market competition, however, appear to be weak.     

Outcome-focused national park experience management: transforming participants,promoting social well-being,and fostering place attachment

Understanding visitor experiences is essential if park managers are to facilitate beneficial outcomes for both individuals and society. We investigated visitor experiences in a special model of thematically connected guided walking, biking, and 4WD tours in Australian national parks. Outcomes attained by first-time and repeat participants were assessed by questionnaires with more detailed insights from semi-structured interviews with repeat participants. Participants developed strong social ties with community members and experienced significant improvements in health, well-being, and competence, gaining a sense of achievement from mastering a challenge with positive implications for their lives beyond the tours. The tour series performed well in achieving visitor satisfaction, repeat participation, and word-of-mouth recommendation. The experience increased participants’ attachment to national parks, reinforcing their sense of environmental stewardship. The findings are especially relevant to efforts in parks and elsewhere to better integrate senior citizens into the community and provide opportunities to increase their physical, mental, and social well-being. Such opportunities become limited, for example, when people retire from work or suffer health impairment. The tour series proved an effective tool for outcome-focused park management, providing significant personal benefits to participants with positive implications for larger societal benefits, plus political and financial advantages for park managements.     

What crises could teach us about complexity and systemic management: The case of the Nestucca oil spill

In this article we attempt to uncover some systemic management principles for the better management of complex issues. Taking a pragmatic approach we have expanded the case methodology proposed by John Dewey to the case study of a major crisis. By proposing that crises allow for a better apprehension of complexity, we study the changes which were carried out or not, to this day, after the 1988 Nestucca oil spill that occurred in Canada only three months prior to the Exxon-Valdez disaster. After conducting a linear and systemic analysis of the crisis, we propose that the changes institutionalized thus far spring mostly from what we call “behavioral” and “paradigmatic” learning which are weak for addressing complex issues. Proposing that 15% of the people we have interviewed where able to derive a “systemic learning” from this crisis, we suggest several unlocking strategies that allow these systemic lessons to be institutionalized.     

Layoff taxes and minimum wage: Two complementary public policies

In a matching model in which the job destruction rate and the output are endogenous, we show that the presence of a binding minimum wage prompts firms to choose too risky jobs. Introducing layoff taxes therefore reduces unemployment and improves market efficiency.     

Magnitude and evolution of gender and race contributions to earnings inequality across US regions

This paper studies individual characteristics of earnings inequality within the population of blacks and whites in the United States over the period 2005–2017. Beyond education and age serving as a proxy for professional experience, applying a new Shapley income decomposition methodology enables us to isolate and measure two discriminative factors in earnings differences: race and gender. We show that these two factors explain a significant share of total earnings inequality, as defined by the Gini index, for all the geographical administrative divisions used. Whatever the division, the share of earnings inequality associated with gender greatly exceeds that of race. While gender earnings inequality has fallen over time, inequality associated with race has tended to increase since 2010 and is stronger in the Southeast of the country.