Der Beitrag kontrolltheoretischer Methoden zur Analyse der Stabilisationspolitik

Ohne ZusammenfassungFür Anregungen und Unterstützung danke ich besonders den Herren Professoren Abele (Universität Freiburg/Schweiz), Tintner (TU Wien), Aoki (Universität Urbana/Illinois, USA) und Ferschl (Universität Wien); für allenfalls verbleibende Irrtümer bleibe ich selbst verantwortlich.     

Die Kriterien des unteren Wendepunktes im Konjunkturverlauf

Ohne ZusammenfassungVortrag, gehalten vor den Mitgliedern des Großraumausschusses der Südostgemeinschaft der Wiener Hochschulen.     

Consumer Trial,Continuous Use,and Economic Benefits of a Retail Service Innovation: The Case of the Personal Shopping Assistant

Service innovations in retailing have the potential to benefit consumers as well as retailers. This research models key factors associated with the trial and continuous use of a specific self‐service technology (SST), the personal shopping assistant (PSA), and estimates retailer benefits from implementing that innovation. Based on theoretical insights from prior SST studies, diffusion of innovation literature, and the technology acceptance model (TAM), this study develops specific hypotheses and tests them on a sample of 104 actual users of the PSA and 345 nonusers who shopped at the retail store offering the PSA device. Results indicate that factors affecting initial trial are different from those affecting continuous use. More specifically, consumers' trust toward the retailer, novelty seeking, and market mavenism are positively related to trial, while technology anxiety hinders the likelihood of trying the PSA. Perceived ease of use of the device positively impacts continuous use while consumers' need for interaction in shopping environments reduces the likelihood of continuous use. Importantly, there is evidence on retailer benefits from introducing the innovation since consumers using the PSA tend to spend more during each shopping trip. However, given the high costs of technology, the payback period for recovery of investments in innovation depends largely upon continued use of the innovation by consumers. Important implications are provided for retailers considering investments in new in‐store service innovations. Incorporation of technology within physical stores affords opportunities for the retailer to reduce costs, while enhancing service provided to consumers. Therefore, service innovations in retailing have the potential to benefit consumers as well as retailers. This research models key factors associated with the trial and continuous use of a specific SST in the retail context, the PSA, and estimates retailer benefits from implementing that innovation. In so doing, the study contributes to the nascent area of research on SSTs in the retail sector. Based on theoretical insights from prior SST studies, diffusion of innovation literature, and the TAM, this study develops specific hypotheses regarding the (1) antecedent effects of technological anxiety, novelty seeking, market mavenism, and trust in the retailer on trial of the service innovation; (2) the effects of ease of use, perceived waiting time, and need for interaction on continuous use of the innovation; and (3) the effect of use of innovation on consumer spending at the store. The hypotheses were tested on a sample of 104 actual users of the PSA and 345 nonusers who shopped at the retail store offering the PSA device, one of the early adopters of PSA in Germany. Data were analyzed using logistic regression (antecedents of trial), multiple regression (antecedents of continuous use), and propensity score matching (assessing retailer benefits). Results indicate that factors affecting initial trial are different from those affecting continuous use. More specifically, consumers' trust toward the retailer, novelty seeking, and market mavenism are positively related to trial, while technology anxiety hinders the likelihood of trying the PSA. Perceived ease of use of the device positively impacts continuous use, while consumers' need for interaction in shopping environments reduces the likelihood of continuous use. Importantly, there is evidence on retailer benefits from introducing the innovation since consumers using the PSA tend to spend more during each shopping trip. However, given the high costs of technology, the payback period for recovery of investments in innovation depends largely upon continued use of the innovation by consumers. Important implications are provided for retailers considering investments in new in‐store service innovations. The study contributes to the literature through its (1) simultaneous examination of antecedents of trial and continuous usage of a specific SST, (2) the demonstration of economic benefits of SST introduction for the retailer, and (3) contribution to the stream of research on service innovation, as against product innovation.     

Less Government—More Wealth? On the Macroeconomics of a Smaller Public Sector in Europe

In this paper, we analyze the reactions of European economies to a fiscal policy strategy aiming at diminishing the public sector. Within the framework of the MSG3 model, a macroeconomic model of the world economy, we perform several simulation experiments to explore the effects of reducing government expenditures permanently in different phases of the business cycle. For this purpose, we combine the fiscal contraction with negative and positive, Euro Area-wide and global, supply and demand shocks. It turns out that adverse Keynesian effects on output and employment tend to be mostly weak and short-lived, whereas long-run effects on output and employment are favorable. Due to these long-run effects, the fiscal contraction policy raises welfare as measured by an asymmetric quadratic objective function. The size of these welfare effects depends on the initial situation in a non-trivial manner.     

Experimental investigation of stationary concepts in cyclic duopoly games

We experimentally test the predictive success of three stationary concepts in two cyclic duopoly games. The concepts are Nash equilibrium, impulse-balance equilibrium and payoff-sampling equilibrium. In the experiment 11 independent subject groups, consisting out of six participants interacting over 200 rounds, were gathered for each game. The comparison of the three concepts with mixed strategies shows that the order of performance from best to worst is as follows: payoff-sampling equilibrium, impulse-balance equilibrium, and Nash equilibrium. In addition the data exhibit a weak but significant tendency over time in the direction of coordination at a pure strategy equilibrium.     

Responding to Digital Transformation by External Corporate Venturing: An Enterprising Family Identity and Communication Patterns Perspective

Digital transformation increasingly requires activities located outside firm boundaries, for example via alliances with start‐up companies. Despite this, German Mittelstand firms, primarily owned and managed by enterprising families and seen as role models of innovation, appear reluctant to place strategic emphasis on venturing outside the firm’s boundaries when it comes to digital transformation. Drawing on the concepts of identity and communication patterns, we theorize on the mechanisms behind this behaviour. Applying structural equation modelling to a sample of 254 members of the next generation in enterprising families from Germany, we find that family communication patterns impact the strategic priority for or against external corporate venturing via identity‐related considerations.