On the Consumer Value of Diversity: An Application to Italian Fish

This article investigates the consumer value of diversity both conceptually and empirically. It proposes a measure of diversity value based on a benefit function. It shows that the consumer value of diversity can arise from complementarity and/or convexity effects among consumer goods. The usefulness of the approach is illustrated by an application to fish in Italy. The investigation illustrates the role played by both convexity and complementarity in the valuation of diversity. The empirical evidence shows the importance of dynamics. It also documents how the value of diversity varies depending on the bundles considered.     

The impacts of complementary information technology resources on the service-profit chain and competitive performance of South African hospitality firms

The potential of information technology (IT) resources to empower employees, to shape customer service and contribute to the competitive performance of hospitality firms has received much attention. Yet empirical evidence has been lacking. This study draws on the resource-based view of the firm and the service-profit chain framework to develop and test a model of the effects of a complementary system of tangible and intangible IT resources on employee and customer service outcomes and on competitive performance. A structured questionnaire was used to collect data from 112 hospitality establishments operating in South Africa. Results revealed that the complementary system of IT resources has significant direct effects on competitive performance whilst its effect on customer service outcomes is fully mediated by employee outcomes. Results support the contention that hospitality service is information intensive. In addition to employees, tangible and intangible IT resources demand the attention of hospitality managers and their role in competitive strategy must be considered.     

Foresight for science parks: the case of Ankara University

This paper reports a Foresight exercise, which was carried out to develop a research strategy and a business model for the science park of Ankara University (AU). Science parks have been crucial elements of innovation systems both in developed and developing countries because their role in bridging the gap between academia and business through knowledge spill-overs and spin-offs. Although there is a widespread consensus about the usefulness of the science park concept, the actual performance of science parks and how well they meet expectations have been controversial. This paper discusses the success factors for science parks. A three-dimensional policy framework, which includes ‘complementarity’, ‘networking’ and ‘strategic scalar positioning’ is suggested to be taken into account during the design and operation of science parks. The paper describes the Foresight process and the policies and strategies developed by using the three-dimensional policy framework proposed for the newly established science park at Ankara University.     

战略联盟中资源与绩效关系模型

战略联盟在全球范围内的兴起,引起了学术界对联盟的研究兴趣,研究的成果包括来自于交易成本经济学等多个理论。用该理论解释战略联盟现象非常有效。但他们都在一定程度上忽视了合作双方的资源在战略联盟中所起的作用。而资源基础理论则能很好地解决这个问题,本文侧重于从资源组合角度研究战略联盟的绩效,同时也借鉴了社会心理学研究战略联盟的成果,把联盟间的信任引入研究框架,力图更为全面地解释联盟的成功的因素。     

Atoms,Bits, and Wits: A New Economics for the Twenty-First Century—Part II

Learning also affects the organization of economic activity as a “force locomotif” of growth. Bounded rationality opens a theory of planning horizons as an ordinal measure of wits. The realm of wits shines a novel light on the nature of interdependence, since the balance of substitution and complementarity is horizonal: longer and broader horizons shift this balance away from substitution in favor of complementarity, augmenting concerts of interest over conflicts in social relations. Atoms, bits, and wits are modeled to show why substitution only applies to short-run atoms; a case for complementarity rises from both increasing returns and bits, where wits strengthen the case for cooperation as efficient. With complementarity, competition—not collusion—stifles output. The social and institutional implications of this are addressed theoretically in this paper.     

Tradable performance standards in a dynamic context

Many sectors of the economy that are targets of emissions reduction policy exhibit price-responsive demand, long-lived capital, capacity constraints, and foresighted decision-making. I explore how these features affect the efficiency and dynamics of tradable performance standards (TPS) using analytical and numerical equilibrium models. While I show these dynamic considerations alone do not lead to conflicts with existing theory on the overall efficiency and cost-effectiveness of the TPS relative to a first-best policy, they do affect the transition path and steady state. Most notably, under all but the smallest discount rates, the TPS can lead to a more cost-effective post-transition steady state than the equivalent emissions cap. Given the intergenerational transition that comes with decarbonization, this result suggests some classes of present and future consumers may prefer a TPS to an emissions cap.     

On Solving the Multirotational Timber Harvesting Problem with Stochastic Prices: A Linear Complementarity Formulation

This article develops a two-factor real options model of the harvesting decision over infinite rotations assuming a known stochastic price process and using a rigorous Hamilton–Jacobi–Bellman methodology. The harvesting problem is formulated as a linear complementarity problem that is solved numerically using a fully implicit finite difference method. This approach is contrasted with the Markov decision process models commonly used in the literature. The model is used to estimate the value of a representative stand in Ontario's boreal forest, both when there is complete flexibility regarding harvesting time and when regulations dictate the harvesting date.     

Revisiting the Porter hypothesis: an empirical analysis of Green innovation for the Netherlands

ABSTRACT

Almost all empirical research that has attempted to assess the validity of the Porter hypothesis (PH) has started from reduced-form models, for example, single-equation models for estimating the contribution of environmental regulation to productivity. This paper follows a structural approach that allows testing what is known in the literature as the ‘weak’ and the ‘strong’ version of the PH. Our ‘Green Innovation’ model includes three types of eco-investments to explain differences in the incidence of two types of eco-innovation, which are allowed to affect labor productivity. We allow for complementarity between the two types of eco-innovations. Using a comprehensive panel of Dutch manufacturing firm-level data we estimate the relative importance of environmental regulations on eco-investment and eco-innovations. The results of our analysis show a strong corroboration of the weak and a nuanced corroboration of the strong version of the PH.     

对俄经济合作的新思考

加强和扩大对俄合作一直是我国的重要外交政策.随着中俄经济关系的不断发展,又出现了新的变化和特点.在市场经济条件下,构筑新型中俄经济合作关系,不断开拓黑龙江省对俄新的合作领域和深层次合作内容,寻找新的合作增长点是目前两国经贸关系发展的基本方向,尤其对两国发展地方经济合作关系具有巨大的潜力和广阔的前景,并对振兴东北老工业基地具有十分重要的意义.