Critical Realism,Feminist Epistemology,and the Emancipatory Potential of Science: A Comment on Lawson and Harding

In a recent contribution to this Journal , Tony Lawson (1999) claims that the methodological framework of critical realism fits the "explanatory and emancipatory projects" of feminist economics. This essay challenges his claim on the basis that a "naive" notion of science underlies critical realism. It argues that for feminist economists, a rethinking of traditional notions of scientific inquiry is just as important as the rethinking of methodology, and that one cannot be done without the other.     

Innovating for elderly people: the development of geront’innovations in the French silver economy

The objective of this paper is to study the supply side of the silver market, which is usually neglected by research on this topic. Adopting a systemic approach to innovation, our main goals are to identify the nature of the innovations developed, the way innovations are created, and the issues related to their emergence and diffusion. Our research is based on an empirical study of the French silver economy, which consists in an enquiry carried out in Silver Valley. The results of our study lead us to suggest a new term ‘geront’innovation’ to qualify the various forms of innovations developed to cater for the needs of elderly people. We also put forward the importance of networking and open innovation strategies. Finally, the identified barriers to emergence and diffusion as perceived by the supply side of the market lead us to suggest recommendations to support the diffusion of geront’innovations.     

Combining Information Technology and Decentralized Workplace Organization: SMEs versus Larger Firms

This paper examines whether information technology (IT) and decentralized and incentive-based workplace organization are complementary only for large firms or also for smaller firms. Previous empirical evidence suggesting complementarity between IT and decentralization is mainly based on large firms. Using data from a sample of 3,288 small and medium-sized enterprises (SMEs) and 595 larger firms from the manufacturing and service sector in Germany, it appears that SMEs with decentralized and incentive-based work practices tend to use IT more intensively. Moreover, for the sample of SMEs, IT and workplace organization are individually associated with higher productivity, but the combination of IT and decentralization does not yield a productivity premium. In contrast, the productivity of IT depends positively on decentralization for large firms. The findings suggest that combining IT and decentralized workplace organization seems only to be a successful strategy for larger firms.     

Productivity and Internationalization: A Micro-Data Approach

An appropriate analysis of the effects of globalization requires a careful analysis of the various ways in which different firms operate in international markets. Micro data at the level of individual firms and employees can enhance our empirical understanding of the relationships between internationalization, firms, jobs and employees. These micro data become increasingly available. This paper provides an introduction to this special issue that illustrates the wide variation, richness and policy relevance of the emerging micro data driven research on the effects of internationalization and productivity.     

Building service businesses in Africa: Introducing the business builder model

The success of Silicon Valley has served as a driving force for entrepreneurs and investors worldwide. Many have attempted to create their own version in developing markets by setting up Silicon Valley‐style tech incubators. In recent years, Africa has seen an influx of these start‐up incubators, which has resulted in an emergence of major tech hubs in different parts of the continent. These areas have taken on names synonymous with the booming tech industry: Cape Town in South Africa is known as the Silicon Cape, Nairobi in Kenya as the Silicon Savannah, and Lagos, Nigeria as the Silicon Lagoon. Despite the influx and success of some of these incubators, there is also a multitude of examples where success and longevity are rare. The lifespan of these start‐ups are short and they seldom realize any profit. Limited access to capital markets, poor infrastructure, and weak regulatory environment are just a few reasons cited for this. Although there is a multitude of articles and publications that feature success cases and reasons behind propelling success, there are far fewer that focus on failures. As such, with this article we aim to shed light on the various reasons why these businesses fail by analyzing the literature and demonstrating them with real‐world examples of both successes and failures in the market. Using the information analyzed, we then propose a solution for successfully investing in tech startups in the developing world, the business builder model.     

A Case Study of Technological Switching and Technological Lock‐In in the French Fisheries Sector: Why is Sustainable Change so Difficult?

Many sectors such as the fishery show classic examples of technological lock‐in and path dependence, even though some economists might predict smooth switching toward technologies that are more cost effective and sustainable. We use ideas from the evolutionary economics and public choice literatures to explain why trajectories of technological change, especially in fisheries, may not be smooth at all, but rather punctuated. The interest of technological change and switching behavior for fisheries economists and managers stems from the fact that control of effective effort, often necessary for sustainable management of the resource, remains a central management problem for that sector worldwide, even in developed countries. However, various policies put in place by governments to support the fishing sector, and often put in place to “correct” for certain market failures, may inadvertently produce other “nonmarket” failures, which result in technological lock‐ins which are unsustainable. For example, the trawling technique was widely promoted in France in the 1970s and 1980s. Path dependency developed in such a way that the preferred choice of new entrants into the fishery was this technology. Technological lock‐in occurred on the trawling technique as the trawling sector also became more politically active, making it ultimately the most widely used technique in the French fisheries sector in the Atlantic. Switching away from this technology has not taken place even with poorer economic performance of that technology. This paper also discusses the influence of state subsidies on the adoption of trawling. Even if trawling was a major innovation in fisheries in the past, its potential for technological adaptations or minor innovations is limited now. These limitations are more obvious during periods of increasing energy prices, especially in the absence of state aid. However, due to collective choice phenomena, switches to more sustainable technologies will occur more slowly. Plusieurs secteurs, tel que celui des pêcheries, offrent des exemples de verrouillage technologique et de dépendances au sentier, alors même que les économistes s’attendent à un changement régulier vers une technologie plus efficace en termes de coûts et plus soutenable. Nous nous appuyons sur la littérature évolutionniste et des choix publics afin d’expliquer pourquoi les trajectoires du changement technologique, en particulier dans les pêcheries, peuvent ne pas être régulières, mais au contraire discontinues. L’intérêt des économistes et des gestionnaires pour le changement technologique et le comportement face au retour des techniques est lié au contrôle de l’effort réel, souvent nécessaire pour une gestion durable de la ressource. Le contrôle de l’effort reste le problème essentiel de la gestion des pêches à l’échelle mondiale, y compris dans les pays développés. Toutefois, de nombreuses mesures publiques mises en place par les gouvernements pour soutenir le secteur des pêcheries, afin de «contrecarrer» certaines défaillances du marché, peuvent déboucher involontairement sur d’autres défaillances «non marchandes», se traduisant par des verrouillages technologiques non‐soutenables. Par exemple, la technique du chalutage fut largement diffusé en France dans les années soixante‐dix et quatre‐vingt. Un sentier de dépendance s’est développé tel que les nouveaux entrants dans la pêcherie optaient pour cette technologie. Un verrouillage technologique s’est produit sur la technique du chalutage rendant ce secteur politiquement important, et finalement la technique la plus répandue parmi les pêcheries françaises de l’Atlantique. Un changement de technologie n’a donc pu survenir, même en présence de faibles performances économiques. L’article traite de l’influence des subventions étatiques liées à l’adoption du chalutage. Même si cette technologie fut une innovation majeure dans les pêcheries par le passé, les adaptations techniques potentielles ou les innovations mineures sont désormais limitées. Ces limites apparaissent clairement dans les périodes de coûts énergétiques croissants, notamment en l’absence d’aides étatiques. Toutefois, en raison du phénomène de comportements collectifs, les changements vers des technologies plus soutenables se déroulent avec lenteur.     

Designing a foresight exercise for the future of rural communities in Romania

The paper aims to offer a good guideline for anyone who intends to do a futures or a foresight exercise for rural communities. The case presented is the one of the future of rural communities in Romania. The article begins with a brief presentation of the prevailing rural situation in Romania followed by a dialogue regarding suggestions for the possible objectives of a foresight exercise and the methods used (e.g. visioning, alternative futures, scenarios).     

Long memory in continuous-time stochastic volatility models

This paper studies a classical extension of the Black and Scholes model for option pricing, often known as the Hull and White model. Our specification is that the volatility process is assumed not only to be stochastic, but also to have long-memory features and properties. We study here the implications of this continuous-time long-memory model, both for the volatility process itself as well as for the global asset price process. We also compare our model with some discrete time approximations. Then the issue of option pricing is addressed by looking at theoretical formulas and properties of the implicit volatilities as well as statistical inference tractability. Lastly, we provide a few simulation experiments to illustrate our results.