Opportunities and institutions: A co-creation story of the king crab industry

If entrepreneurs are constrained and shaped by existing institutions, how? If entrepreneurs products and services, how can institutions remain unchanged? This paper explores this theoretical conundrum empirically through the examination of the actions of entrepreneur Lowell Wakefield. Contrary to previous work that suggests that it is institutional entrepreneurs that bring about institutional change as a means of advancing their social interests, this paper shows that a profit-seeking entrepreneur without prior institutional affiliation or experience can create an opportunity along with the supporting industry standards and regulations.     

Historical Materialism and Agrarian History

Theory as History: Essays on Modes of Production and Exploitation , by Jairus Banaji. Leiden and Boston: Brill, 2010 . Historical Materialism Book Series Volume 25 . Pp. xix+406. €101 (hb). ISBN 978‐90‐04‐18368‐1 The collection provides an opportunity to assess Jairus Banaji's original and provocative contributions over more than three decades. This review tries to chart a path across the range of the essays as a whole, marked by three themes and their connections and possible disconnections: what constitutes modes of production; modes of production before capitalism and their histories; and characterizing and periodizing capitalism. Banaji's emphatic arguments for long histories/trajectories of commodity production, exchange and accumulation across different times and places, especially in estate agriculture and the circuits of merchant capital, traverse these three themes.     

Intergenerational Transfers and Insurance Policy Design

Abstract

Group health insurance policies offering an identical benefit package to every member of the group result in lower expected health benefits for younger cohorts than older cohorts. The dispersion in insurance benefits across age groups differs among insurance policies. Simulation results presented in this paper demonstrate that a shift from comprehensive health insurance to high-deductible health insurance decreases the share of expected benefits going to younger cohorts. An estimated 81.5% of the 23-to-32-year-old cohort is expected to receive less than $500 in health benefits during a year for one prototypical high-deductible health plan. Low expected benefits for younger relatively healthy cohorts could increase the number of younger individuals who eschew health coverage. Age-rated premiums are probably the most straightforward way to stimulate demand for high-deductible health plans among younger healthier individuals.     

Direct marketing in the financial services industry

This article presents empirical research findings on the use of direct marketing by a representative sample of UK financial services institutions. A number of similarities and differences between banks, building societies and insurance companies are identified in relation to direct marketing programmes and the use of particular direct marketing techniques. While acknowledging some exceptions the research concludes that there is scope for a greater appreciation of the strategic value and workings of direct marketing. Institutions could usefully focus attention on achieving fuller integration of direct marketing with other marketing and communication activities and securing improvements in testing, database quality and timing.     

The Future of Estate Agency: Some Consequences of the Recent Acquisition Boom in South West England

The entrance of large financial institutions into the estate agency industry has transformed it from a cottage industry into one dominated by a few large national chains. Based on a postal questionnaire survey of estate agents in the South West and follow-up interviews of thirteen agents in the Plymouth travel-to-work area, this study considers the effects of the takeovers on the operations of estate agents and the future of the estate agency industry. It focuses on diversification, commission rates, attitudes to 1992, marketing and the future of the independent agent.