Efficiency and stability of sampling equilibrium in public goods games

Most models of social preferences and bounded rationality that are effective in explaining efficiency‐increasing departures from equilibrium behavior cannot easily account for similar deviations when they are efficiency‐reducing. We show that the notion of sampling equilibrium, subject to a suitable stability refinement, can account for behavior in both efficiency‐enhancing and efficiency‐reducing conditions. In particular, in public goods games with dominant strategy equilibria, stable sampling equilibrium can involve the play of dominated strategies with positive probability both when such behavior increases aggregate payoffs (relative to the standard prediction) and when it reduces aggregate payoffs. The dominant strategy equilibrium prediction changes abruptly from zero contribution to full contribution as a parameter crosses a threshold, whereas the stable sampling equilibrium remains fully mixed throughout. This is consistent with the available experimental evidence.     

Relationship between perceptions of corporate social responsibility and organizational cynicism: the role of employee volunteering

This study explores the role of positive corporate social responsibility (CSR) perceptions of employees in reducing cynicism toward the organization. As employee involvement in CSR activities through volunteering could influence the perceptions of CSR among employees, the moderating impact of employee volunteering on the relationship between CSR perceptions and cynicism is also tested. Considering that managers and non-managers can have different perceptions of CSR and organizational realities, the relationship between CSR and organizational cynicism is compared among managerial and non-managerial staff working in large organizations. The analysis of 348 questionnaires collected from 191 managers and 157 non-managers showed that positive perceptions of CSR were negatively correlated with organizational cynicism for both managers and non-managers, with significantly stronger negative correlations among managers. Employee volunteering did not significantly moderate the relationship between CSR and organizational cynicism in both groups. The implications of these results on human resource management theory and practice are discussed.     

Strategy-Specific Barriers to Learning and Nonmonotonic Selection Dynamics

The replicator dynamics are generalized to allow for strategy-specific barriers to learning. The resulting dynamics satisfy neither payoff monotonicity nor payoff positivity, but do satisfy weak payoff positivity. It is shown that initial states from which trajectories converge to a rest point under the replicator dynamics may yield trajectories which approach a stable limit cycle under the generalized replicator dynamics. Furthermore, strategies which are strictly dominated by other pure strategies may survive indefinitely along such nonconvergent paths.Journal of Economic LiteratureClassification Numbers: C73.     

Rethinking Management Theory and Practice for the Indian Context: An International Management Perspective

The Indian economy characterized variously as a slumbering giant, powerful tiger, and the most promising market has witnessed a slowdown, occasional disturbances in the industrial relations space, and attention of the world in the last five years. In this special issue, we raise pertinent questions and present research on multiple dimensions of the dynamic and rapidly changing business environment of India. The suitability of management models and frameworks developed in the North American contexts in emerging markets like India and China is questioned. One example of how the well‐established models in the literature on success of international joint ventures were insufficient to explain the success of three international joint ventures in the insurance space in India is presented as case in point. Finally, the nine papers that materially contribute to the theme of this special issue are introduced. © 2016 Wiley Periodicals, Inc.     

Competition In Mediation Services: Modeling the Role of Expertise,Satisfaction, and Switching Costs

This article analyzes competition among mediation service providers that match clients and vendors in a horizontally differentiated market. This is an issue that is important for decision support of mediators in determining pricing and service strategies. We present a simulation model to simultaneously represent search as well as the behaviors of clients, vendors, and multiple competing mediators. Among our findings: intermediaries find it optimal to offer registration fee incentives and derive revenues from transaction fees from successful matches; as switching costs increase, incumbent utilities increase and entrant utilities decrease; expertise, modeled as the ability of mediators to assess vendor attributes accurately, is a powerful competitive weapon for entrants to erode the incumbent intermediary's first mover advantage. On the other hand, client satisfaction is an instrument for an incumbent intermediary to deter entrance by competitors.     

Developing financial capability among the young through education and asset-based welfare

One way the previous UK government tried to tackle declining youth financial capability was through its Child Trust Fund (CTF) policy. However, there were allegations that it created pliant subjects for financial markets and that it was paving the way to phase out services previously provided by the state. This article defends financial capability as part of financial citizenship and suggests that the CTF was important for supporting financial citizenship. The CTF model is being discussed in other countries and the arguments in this article are of importance in those countries, as well as to the carers and educators of the five million CTF holders in the UK.     

Examining the impact of information technology and patient flow on healthcare performance: A Theory of Swift and Even Flow (TSEF) perspective

The impact of information technologies on manufacturing operations and performance is well established. However, scant research has been devoted to examining information technology (IT) investment among hospitals and how it influences patient care and financial performance. Using the lens of the Theory of Swift Even Flow (TSEF), we present an operations management-based perspective on the effect of IT in streamlining hospital operations. Specifically, we examined the role of IT on patient flow and its consequences for improved hospital efficiency and performance.     

Third world multinationals : The characteristics of Indian firms investing abroad

This paper uses models of dichotomous choice to distinguish the characteristics of Indian firms that invest overseas from those that do not. It seeks to shed light on the motivations underlying foreign investment by Indian firms and on the nature of the perceived competitive advantage of these firms in their overseas operations.