A time series approach to g convergence

This paper applies time series analysis to study how the gap between a number of countries and the USA evolves through time. As other authors, it is found that time series analysis provides a better insight into the concept of convergence than the cross sectional one. The econometric results show that the stochastic behaviour of the output disparity varies considerably: neither the steady-state equilibrium nor the speed of convergence are unique and constant across countries and time. In general, there is catching up for European countries, convergence for East and South Asian countries, and neither of them for Latin American countries.     

Licensing policies for a new product

This paper studies licensing policies for the owner of a new product and addresses their welfare impact in the assessment of market failures. We show that the best licensing policy for the patent holder is fixed fee licensing with an exclusive territory clause. Consumers are also better off with fixed fees but do not prefer the exclusive territory clause. Social welfare is higher under exclusive territories when fixed costs are not too large. As for efficiency, the number of licences in the private market equilibrium falls short of the socially optimal solution. Our analysis discloses that (i) any policy measures aimed at enhancing the diffusion of technology, in terms of the number of licences, would be welcomed and, (ii) the permissive treatment received by licensing agreements with exclusive territories is justified.     

Dark times for cosmopolitanism? An ethical framework to address private agri-food governance and planetary stewardship

The scholarly tradition of cosmopolitanism (illustrated by the old saying, “I am a citizen of the world”) offers important insights into the examination of agri-food multinational corporations (MNCs) as powerful global actors. Acknowledging that agriculture is the business sector with the highest planetary environmental impact, in this paper, we advance existing discussions around cosmopolitanism and the normative implications of considering agri-food MNCs as political actors. Relying on an integrative literature review, we propose a tripartite ethical framework that gives a new momentum to the ideals and tenets of cosmopolitanism. This novel lens offers an integrated, seamless ethical approach and revolves around three dimensions: culture, morality, and governance. The first dimension examines key agri-food cultural and social-ecological issues, the second acknowledges interdependence and causality as central to understanding MNCs’ ethical responsibilities, and the third outlines several governance parameters around legitimacy, planetary reach and efficiency. Hence, our integrative framework resituates the planetary geographical imagination of cosmopolitanism within the biophysical parameters outlined by the planetary boundaries concept, advancing key issues on private agri-food environmental governance and planetary stewardship.     

Impact of Decision Rules and Non-cooperative Behaviors on Minimum Consensus Cost in Group Decision Making

Group Decision and Negotiation - In group decision making, it is sensible to achive minimum consensus cost (MCC) because the consensus reaching process resources are often limited. In this...     

Social entrepreneurship orientation and performance in non-profit organizations

With the downturn in the global socioeconomic panorama, the social entrepreneurship orientation (SEO) and the social performance of non-profit organizations (NPOs) have become subject to growing levels of attention. The objective of this study is to analyze the influence of SEO on the performance of NPOs. To this end, we deployed a quantitative methodology based on the application of a survey of NPOs, which received a total of 135 valid responses. Our results demonstrate a positive effect for the dimensions of social innovation and social proactivity even while reporting no effect for the acceptance of social risks on performance. These results hold important implications across two different levels: in terms of the NPOs and policy-makers.

     

A synthesis of the Heckscher-Ohlin and the neoclassical models of international trade

In this paper we provide a synthesis between the neoclassical and the Heckscher-Ohlin models of international trade by developing the properties of a two-sector, three-factor model. The neoclassical model, where one or more factors are specific to one or both industries, and the Heckscher-Ohlin model, where two (or all factors) are nonspecific, then can be analyzed as special cases of our model. The theorems by Rybczynski, Stolper and Samuelson, Jones and Chipman, among others, are reexamined in terms of our generalized model.     

On competitive balance in the group stage of the UEFA Champions League*

This article examines competitive balance in the group stage of the UEFA Champions League over the last two decades (1999/2000–2017/2018). Competitive balance is considered both before and after a competition. Have the groups been designed in such a way as to ensure similar levels of competitive balance ex ante? Have the demonstrated strengths (ex post competitive balance) of the different groups been similar over each season? What is the relationship between the competitive balance in the designed groups and that achieved in the same groups after the competition? Are the performance achieved in terms of ex post competitive balance similar to ex ante competitive balance levels? We found that, despite expectations, the groups' ex ante competitive balance was not homogeneous. Although ex ante competitive balance serves as a good predictor, on average, of ex post competitive balance, we observed significant differences at the levels of group and seasons. Therefore, it is possible to improve the design mechanism of the groups that make up the group stage of the champions so that they are composed homogeneously in terms of ex ante competitive balance.     

The effects of learning and signaling on money demand: With an application to heterodox inflation stabilization programs

This paper develops a nonlinear vector autoregression of inflation and money growth subject to changes in regime. The regimes are fully characterized by the mean and variance of inflation and are conjectured to be the result of alternative government policies. Agents are unable to observe directly whether government actions are indeed consistent with the inflation rate targeted as part of a stabilization program. However, as part of their money demand decision, agents construct probability inferences regarding the regime. Government announcements are assumed to provide agents with additional, possibly truthful information regarding the regime.  This specification is estimated using data from the Israeli and Argentine high-inflation periods. Results indicate that the successful stabilization program implemented in Israel in July 1985 was more credible than either the earlier Israeli attempt in November 1984 or the Argentine programs. Government's signaling might simplify the agents' inference problem and increase the speed of their learning but, under certain conditions, it might also increase inflation volatility. Welfare gains from a temporary increase in real balances might be high enough to induce agents to raise their money demand in the short-term even if they are uncertain about the nature of government policy and the eventual outcome of the stabilization attempt. Statistically, the model restrictions cannot be rejected at the 1% significance level. First version received: August 1998/Final version received: January 1999     

Managerial practices driving knowledge creation,learning and transfer in translational research: an exploratory case study

Despite its growing popularity in the biomedical literature, the particular phenomenon of translational research management has not been addressed from an organizational and strategic perspective yet. Our study aims to fill this gap by identifying a set of managerial practices that could influence how knowledge is created, amplified and transferred from biomedical research both to clinical practice and the productive sector. As a result of the theoretical review, we have proposed a preliminary model to guide our empirical work. We have developed an exploratory case study to gather organisational information from an outstanding translational research center. The results obtained from the analysis have allowed us to build an induced model of managerial practices that both affect the creation, integration and transfer of knowledge in the translational research organization studied, as well as derives a set of research propositions. Finally, we present the main academic and managerial implications of the work, together with its limitations and related future research lines.