Technology foresight using a Delphi approach: a Japanese-German co-operation

This article describes a joint project conducted from 1991 until 1993 by the Japanese National Institute of Science and Technology Policy (NISTEP) and the German Fraunhofer institute for Systems and Innovation Research (ISI). Some first outcomes, and different alternatives on how to use the data for trend interpretation and priority setting, are described.
The Japanese Delphi survey is conducted every five years and was first undertaken in 1971. In 1992, NISTEP and ISI agreed on a joint project. About 3000 Japanese experts were asked to answer more than 1000 questions based on 16 different technological areas. With financial aid from the Federal German Ministry of Research and Technology (BMFT) the Japanese fifth Delphi survey was replicated in Germany. The Japanese questions were translated and more than 1000 German experts responded to the questionnaires and judged the possible technological development within the next 20 to 30 years. The aim of this joint project is to compare the Japanese and the German answers in order to analyse possible differences and to understand the cultural influences on technology assessment.     

The Domestic Sources of Differences in Labour Market Policies

In this article we analyse what drives both the specific choices and the relative amount of change in labour market policies in two countries, Britain and Spain, in the 1990s. Although we find more substantial and radical labour market reform in Britain, Spain experienced greater union inclusion in policy‐making. We examine the roles of economic institutions and the ideology of the governing party and find that neither accounts satisfactorily for the labour market changes in our cases. Domestic political variables, especially electoral factors and the power and autonomy of government, give more insight into the similarities and differences between the two countries.     

The value relevance of SAM's corporate sustainability ranking and GRI sustainability reporting in the European stock markets

This paper investigates whether relative corporate sustainability as measured by the SAM sustainability ranking and sustainability reporting in terms of Global Reporting Initiative (GRI) application levels are associated with a higher market valuation. We conduct a value relevance study for the 600 largest European companies with the Feltham and Ohlson valuation model as a reference point. Our results indicate that for the observation period 2001 to 2011, the association between corporate sustainability and market value is positive. The empirical evidence of a positive relationship between GRI reporting and market value is statistically significant in some but not all of the model specifications. We find no evidence of interaction between the value relevance of corporate sustainability and sustainability reporting, nor do we find any positive effect of external assurance on the capital market perception of GRI application levels. Our results support the notion that conducting business in accordance with ethical norms is also a shareholder value‐increasing business strategy. However, it is not possible to verify the information given in sustainability reports through external assurance.     

EVOLUTION IN IMPERFECT COMMITMENT BARGAINING—STRATEGIC VERSUS IGNORANT TYPES

To commit in bargaining is crucial: in the ultimatum game with its one‐sided commitment power the ‘proposer’ (almost) receives the whole pie while the ‘responder’ is left with (almost) nothing. When bargaining parties commit simultaneously the symmetric Nash (Econometrica, 1950, vol. 18, pp. 155–162) bargaining solution predicts equal shares. Continuously connecting these two games yields a one‐parameter family of games ( Fischer et al. , Experimental Economics, 2006, vol. 9, pp. 17–33) for which we distinguish two behavioral dispositions, namely (1) neglecting commitment power and (2) reacting to it strategically. Their pay‐off implications define the evolutionary set‐up for which we derive the evolutionarily stable behavioral disposition. Our analysis sheds light on the hypothesis that in experiments participants neglect strategic aspects such as commitment power.     

Material Distortion of Economic Behaviour and Everyday Decision Quality

Misleading information and unfair commercial practices have to be viewed against the background of what consumers otherwise do, i.e., what their purchase decisions look like when no misleading information or no unfair commercial practices are in place. This article provides some of this background by studying how consumers sample information when making an in-store purchase decision. This was done by an eye-tracking study which reveals to what extent consumers succeed in purchasing the products that best meet their purchase intentions when only a representative amount of misleading information is present. The study shows that decisions were suboptimal in relation to what the consumers claimed they wanted to purchase. Only in one product category did consumers in this study actually look at products that were slightly better than average, and as a result, they mainly selected products that were just as often poor as good. If the proportion of bad purchase decisions based on misleading information is small enough, perhaps it might be better to direct the authors’ attention to other ways of improving the decision environments that consumers encounter. In addition, the eye-tracking study provides some insight into how consumers sample information when making an in-store purchase decision. The present data show that consumers invested on average of less than 1 s to look at products.     

Neuregelung der Hinzuverdienstmöglichkeiten für Transferbeziehende: keine leichte Aufgabe

In its coalition agreement, the German government proposes a reorganisation of the rules of earned income to be considered as a means test of basic income. In doing so, it takes up a frequently voiced criticism of the design of the basic income support for job-seekers under Book II of the Social Code. In recent years, researchers have called for a strengthening of (monetary) incentives to work, especially to take up employment with higher weekly working hours. In this paper, we summarise potential effects of such a reform on labour supply, the income distribution and the government budget in the context of a complex welfare system characterised by a high level of benefit non-take-up.

     

Standortfaktor Arbeitsrecht: Die Bewertung durch ausländische Investoren

Die strikten Regulierungen im deutschen Arbeitsrecht gelten als Nachteil für Deutschland im internationalen Wettbewerb um Produktionsstandorte. Welche Bedeutung haben arbeitsrechtliche Faktoren bei der Standortentscheidung von Unternehmen? Wie bewerten US-Investoren das deutsche Arbeitsrecht im Vergleich?