Stability and instability in oligopoly

For regular oligopolies (both homogeneous and heterogeneous) the (local) Cournot-Nash equilibria are the (non-degenerate) critical points of a Morse-Smale vector field, defined on the feasible region of non-negative prices and outputs. When at the boundary of this feasible region this vector field points inwards, it follows from the Morse inequalities that there is at least one stable equilibrium. When there is a unique, non-stable, interior equilibrium, necessarily the vector field points outwards somewhere along the boundary of the feasible region. This raises to a stable boundary equilibrium.     

Introduction to special issue of <Emphasis Type="Italic">Small Business Economics</Emphasis> on female entrepreneurship in developed and developing economies

Research into entrepreneurship has for many years been interested in the differences in rate of participation and performance by female entrepreneurs. The motivation for considering female entrepreneurship in both developing and developed countries arises from our increasing understanding of the significance of the role of women in creating, running and growing businesses as a fundamental driver for economic growth. This special issue examines the reasons for differences in gender participation across levels of development using empirical studies.     

The missing link: knowledge diffusion and entrepreneurship in endogenous growth

The intellectual breakthrough contributed by the new growth theory was the recognition that investments in knowledge and human capital endogenously generate economic growth through the spillover of knowledge. However, endogenous growth theory does not explain how or why spillovers occur. This paper presents a model that shows how growth depends on knowledge accumulation and its diffusion through both incumbents and entrepreneurial activities. We claim that entrepreneurs are one missing link in converting knowledge into economically relevant knowledge. Implementing different regression techniques for the Organisation for Economic Co-operation and Development (OECD) countries during 1981 to 2002 provides surprisingly robust evidence that primarily entrepreneurs contributed to growth and that the importance of entrepreneurs increased in the 1990s. A Granger test confirms that causality goes in the direction from entrepreneurs to growth. The results indicate that policies facilitating entrepreneurship are an important tool to enhance knowledge diffusion and promote economic growth.     

Grocers' window displays: The eclipse of a British tradition

By reference to period retailing narratives, this paper examines the changed significance of shop window displays for British grocers with the transition from counter‐based to self‐service from the late 1940s to the 1960s. The ‘well‐dressed’ window showing a selection of goods and price offers became an early casualty of changed retail practices. Opportunities presented by self‐service for comprehensive stock displays and in‐store promotion proved a decisive challenge to the art of the grocer's window display. These displays had been ubiquitous; large and small shops alike tried to impress passers‐by with examples of their stock range. Self‐service shops had different internal space requirements and soon it was more important that potential customers could see the well‐stocked aisles and activity within.     

Union organizing in Britain: a survey of policy and practice

Analysis of the reasons for trade union decline in developed economies has pointed to their failure to invest in effective methods of recruitment as a contributory factor. This article presents survey and case research to examine the extent to which union failure in recruitment and organizing has been rectified in the United Kingdom. The evidence indicates a varied but nevertheless substantial re-direction of union effort towards recruitment since the mid-1990s and is used to identify the characteristics of 'recruiting unions' which have invested more heavily and adopted more ambitious recruitment targets. Recruiting unions are found to be those which are receptive to learning new approaches to recruitment from overseas and which have relatively advanced arrangements for the representation of women and minorities in their internal systems of government.     

CRM analytics: The fuel for the engine

How often are there articles about customer relations (CRM) in the press today? Almost as many as there were about Year 2000 last year! How many companies state that the customer is king but can do or are doing anything about this? Few really attempt to improve or build relationships with customers or increase their product holdings; treating a customer as an individual and not just another record is still rare. The opinion in many companies seems to be that they can buy a system to deliver what is needed, which is true, but the system is only as good as the rules that drive it, hence the emergence of CRM analytics. This paper aims to illustrate to the reader how a company can start to apply CRM from an analytical rather than from a purely technological angle.     

Concept learning by direct current design challenges in secondary education

This paper presents a mixed methods study in which 77 students and 3 teachers took part, that investigated the practice of Learning by Design (LBD). The study is part of a series of studies, funded by the Netherlands Organisation for Scientific Research, that aims to improve student learning, teaching skills and teacher training. LBD uses the context of design challenges to learn, among other things, science. Previous research showed that this approach to subject integration is quite successful but provides little profit regarding scientific concept learning. Perhaps, when the process of concept learning is better understood, LBD is a suitable method for integration. Through pre- and post-exams we measured, like others, a medium gain in the mastery of scientific concepts. Qualitative data revealed important focus-related issues that impede concept learning. As a result, mainly implicit learning of loose facts and incomplete concepts occurs. More transparency of the learning situation and a stronger focus on underlying concepts should make concept learning more explicit and coherent.     

Unpacking the Goal Congruence–Organizational Deviance Relationship: The Roles of Work Engagement and Emotional Intelligence

Drawing from research on person–organization fit, work engagement, and emotional intelligence, this study investigates the mediating role of work engagement in the link between goal congruence and organizational deviance, as well as how this mediating effect might be moderated by emotional intelligence. Data captured from 272 employees of four IT companies show that the goal congruence between employees and their supervisor negatively affects the former’s organizational deviance, though this effect disappears when controlling for the intermediate role of work engagement. Further, emotional intelligence moderates both the positive relationship between goal congruence and work engagement and the negative relationship between work engagement and organizational deviance, such that these relationships become invigorated at higher levels of emotional intelligence. The findings also reveal that the indirect effect of goal congruence on organizational deviance through work engagement is more pronounced at higher levels of emotional intelligence, which offers evidence of moderated mediation. These findings have significant implications for research and practice.     

The entrepreneurial regime,learning, and industry turbulence

The role which the technological regime and learning play in determining the extent of industry turbulence, or the amount of firm movements into, within, and out of an industry, is examined. The entrepreneurial regime, in which firms outside of the industry incumbents have the innovative advantage, is found to promote industry turbulence. By contrast, the routinized regime, in which the existing incumbents have the innovative advantage, is identified as impeding industry turbulence. The determinants of small-firm turbulence are found to differ from those for large-firm turbulence. Small-firm turbulence is particularly high in capital-intensive industries, where firms must quickly learn or else face extinction.     

Global entrepreneurship and institutions: an introduction

This article is an introduction to the special issue from the 4th Global Entrepreneurship Monitor Research Conference held at Imperial College Business School, London, in 2010. The article has two objectives. The first is to summarize the history of the GEM consortium, some of the contributions that it has delivered, and some challenges and opportunities ahead. The second is to present a summary of the papers in the context of the utility of GEM data in comparative entrepreneurship research.