National and International Benefit Transfer Testing with a Rigorous Test Procedure

Benefit transfer, as a mean to transfer values from existing monetary valuation studies to new policy sites, has been in use for many years. This paper aims to analyze the forecasting quality of benefit transfer by applying a rigoroust-test – also referred to as Accuracy-t-test – that takes into account testing errors which were made in previous surveys. Beside the analysis of national benefit transfers based on two German contingent valuation studies additional efforts were made to investigate into the validity and accuracy of international benefit transfer by considering two Norwegian studies that employed a similar survey design.     

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Internet auctions with many traders

We study a multi-unit auction environment similar to eBay. Sellers, each with a single unit of a homogeneous good, set reserve prices at their own second-price auctions. Each buyer has private value for the good and wishes to acquire a single unit. Buyers can bid as often as they like and move between auctions. We characterize a perfect Bayesian equilibrium for this decentralized dynamic mechanism in which, conditional on reserve prices, an efficient set of trades occurs at a uniform price. In a large but finite market, the sellers set reserve prices equal to their true costs under a very mild distributional assumption, so ex post efficiency is achieved. Buyers’ strategies in this equilibrium are simple and do not depend on their beliefs about other buyers’ valuations, or the number of buyers and sellers.     

Guest Editors’ Introduction: Is the HRM Process Important? Past,Current, and Future Challenges

Ten years ago, Bowen and Ostroff ( 2004 ) criticized the one‐sided focus on the content‐based approach, where researchers take into account the inherent virtues (or vices) associated with the content of HR practices to explain performance. They explicitly highlight the role of the psychological processes through which employees attach meaning to HRM. In this first article of the special section entitled “Is the HRM Process Important?” we present an overview of past, current, and future challenges. For past challenges, we attempt to categorize the various research streams that originated from the seminal piece. To outline current challenges, we present the results of a content analysis of the original 15 articles put forward for the special section. In addition, we provide the overview of a caucus focused on this theme that was held at the Academy of Management annual meeting in Boston in 2012. In conclusion, we discuss future challenges relating to the HRM process approach and review the contributions that have been selected—against a competitive field—for this special issue. © 2014 Wiley Periodicals, Inc.     

Exploring outward FDI and the choice of destination: evidence from Swedish firm-level data

Using Swedish firm-level data on all firms and their affiliates abroad, we investigate what observable firm and country characteristics affect the size of an affiliate in a particular destination. We employ the richness of the data to investigate the importance of destination country factors in explaining firm outward FDI activities and distinguish between the factors that affect such activities in manufacturing versus services firms as well as vertical versus horizontal investments. Our results lend support to existing theories of multinational activity of manufacturing but not services firms. We also find observable differences between vertical and horizontal manufacturing firms that are not always explained by theory.     

THE LIMITS OF INFRASTRUCTURE: Public Transport in a Post-colonial City

Since the 1940s, the people of the neighbourhoods (kampungs) around Surabaya's derelict Ngagel industrial estate have made a living by repurposing the remains of what was once one of Asia's most modern road, rail and industry networks. The remains—in the form of leftover fuel, labour and factory parts—are used to rebuild and repair improvised transport vehicles like bicycle-taxis (becak), minibuses (bemo) and motorbike-taxis (ojek). The repurposing happens at the limits of a capital-intensive heavy infrastructure of factories, trams and buses. The limits are those points where such infrastructure fails and a household-funded mosquito-fleet of light vehicles succeeds. Repurposing gives those who do it a right to infrastructure by providing the city with much-needed public transport. In Surabaya, public transport begins at its limits through the improvisations of people who live in the productive remains of capital-intensive heavy infrastructure. These people live in Surabaya's deindustrialized urban core, where life is made in the ruins of infrastructure through the breaking-down of it, the reworking of it, the right to it, and the leakage of it—the means through which rank-and-file people rather than states and corporations forge infrastructure.