Market Structure And The Adoption Of Innovations: The Case Of The Spanish Banking Sector ‡

This paper is an empirical study of the determinants of adoption time for the teleprocess terminal by Spanish commercial and savings banks. The explanatory variables include the characteristics of the adopting firms, size, and in the case of the savings banks, the structure of the market and concentration. The results indicate that the speed of adoption is maximized at intermediate levels of size and market concentration, confirming one theoretical prediction of models of diffusion: namely, that adoption time is minimized at intermediate levels of market concentration.     

The sceptic as an economist's philosopher? Humean utility as a positive principle

Whereas in philosophy David Hume was long regarded as a negative thinker to be criticized rather than read, many thinkers interested in social and economic theory from Adam Smith onwards found key concepts, distinctions and problems as developed by Hume useful and inspiring. This applies not only to his seminal contributions to technical problems in economics. It is argued that the way in which Hume employed ‘utility as a positive principle’ (most notably in his ‘experimental’ moral theory) is of pivotal importance in this context. It allows for:

a. distinguishing between internal motifs and external circumstances and constraints; and for

b. making explicit the abstract logic of social interaction structures, mechanisms and processes.

Both are necessary conditions for employing the logic of social situations and mechanisms in the explanation of social institutions and economic processes. It moreover prepares the ground for the use of simplified or cartoon-like models of individual agency in economic and social theory, but also for its critique. On this basis, Hume's influence on various strands of social and economic thought, but also the specific differences with regard to more ‘rationalistic’ approaches (such as Hobbesianism or important versions of neoclassical economics) can be assessed more clearly.     

Economic Education in Japan at the University Level

The author describes from personal experience and observation economic education in Japan at the university level. As is true almost universally, Japanese students pursue higher education with different motives and aspirations and have a variety of institutions from which to choose. What they obtain in return depends upon the faculty with which they study and their own perseverance.     

The Use of Narrative Interview in Teaching Principles of Macroeconomics

The author describes the design and implementation of one experiential learning assignment used in a principles of macroeconomics course. The learning exercise provides an active role for students and results in a relational experience that provides traditional undergraduate students with a frame of reference with which to interpret the impact of macroeconomic events and policy on their daily lives.     

Simulating Price-Taking

In this article, the author presents a price-takers’ market simulation geared toward principles-level students. This simulation demonstrates that price-taking behavior is a natural result of the conditions that create perfect competition. In trials, there is a significant degree of price convergence in just three or four rounds. Students find this simulation to be a fun, educational experience that adds value to their understanding of competitive markets.     

Community college economics instruction: Results from a National Science Foundation Project

The principal investigator of a National Science Foundation project, “Economics at Community Colleges,” surveyed community college economics faculty and organized workshops, webinars, and regional meetings to address community college faculty isolation from new ideas in economics and economics instruction. Survey results, combined with National Study of Postsecondary Faculty data, help fill a lacuna in information about community college faculty. A key finding is the reliance in community college economic instruction on part-time faculty, including many who do not hold a graduate degree in economics. The project's webinars reached the most community college faculty, while the workshops were most effective in improving economics instruction. Areas for future research are identified.     

Race,Gender and Regional Labor Market Inequalities in Brazil

This study investigates the relationship between unequal regional development and racial and gender wage inequality in Brazil. Using sample data from the 1991 Brazilian census, I estimated monthly wages for a white, brown and black women and men working in the states of S"o Paulo and Bahia. The findings suggest that while women and Afro-Brazilians in Brazil's most developed region of S"o Paulo had the advantages of higher levels of state sponsored work benefits and more equitable occupational and wage distribution, they nevertheless experienced the greatest discrimination. In contrast, the less developed state of Bahia where racial and gender gaps in education, occupation and wages were the most severe, wage discrimination was lowest.     

Culture and the Labor Market

This paper explores the relationship between culture and labor market behavior. An attempt is made to clarify, from an economic perspective, the meaning of culture; to discuss the importance of cultural studies in the economic analysis of the labor market; and to outline the major theoretical issues that are associated with adopting a cultural perspective on economic behavior in the labor market.     

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.     

Efficient resource allocation under multi-unit demand

We study resource allocation with multi-unit demand, such as the allocation of courses to students. In contrast to the case of single-unit demand, no stable mechanism, not even the (student-proposing) deferred acceptance algorithm, achieves desirable properties: it is not strategy-proof and the resulting allocation is not even weakly efficient under submitted preferences. We characterize the priority structure of courses over students under which stability is consistent with strategy-proofness or efficiency. We show that stability is compatible with strategy-proofness or efficiency if and only if the priority structure is essentially homogeneous. This result suggests that efficient allocation under multi-unit demand is difficult and that the use of stable mechanisms may not deliver desirable outcomes.