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on Heterodox Microeconomics |
| By: | Gu, Gyun Cheol |
| Abstract: | This paper analyzes neoclassical reactions to Gardiner Means's administered price thesis during 1980-2000. It shows that his original idea has been continuously denied by mainstream economists. At the same time, it has been transformed through a multiplicity of rationalization processes into one or another bastardized form. However, their attempts to deny and/or rationalize the thesis are unsuccessful as their sanitized versions of Means’s theory turn out to be self-contradictory in the neoclassical framework. |
| Keywords: | Gardinar Means; Price rigidity; Administered price |
| JEL: | B21 B50 D43 |
| Date: | 2012–05–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:42594&r=hme |
| By: | Raa, T. ten (Tilburg University) |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:ner:tilbur:urn:nbn:nl:ui:12-5660768&r=hme |
| By: | Giuseppe Marcon (Department of Management, Università Ca' Foscari Venezia); Lorenzo Dorigo |
| Abstract: | This work aims to introduce care management from the moral viewpoint of stakeholder theory. It considers stakeholder theory a useful methodology for managerial descriptions, narratives and theorising of business ethics, and the feminist thought, especially the moral grounding of care, a valuable normative core to earn productive remarks and insights into stakeholder research in modern capitalism. Care leads researchers to meaningful conceptualizations of the firm as a relational entity, both in itself and as part of the network of stakeholders within which it is involved, paving the way for organisational analysis deeply entangled in the subjective and interpersonal aspects of specific business context. Of major importance for advancing the understanding of care as virtue ethics affecting the managerial decision-making is the problem of bordering organisation-stakeholder relationships. To this purpose, a quantitative measuring on managerial practices of stakeholder involvement in a sample of small Italian social enterprises has been carried out. Findings reveal that a fully Òcare for the otherÓ turns in favour of those stakeholders who are formally entitled to take part in the co-production of organisation's activities through the formal involvement in the governance structures. |
| Keywords: | care management, stakeholder theory, social enterprise, business ethics, feminism, stakeholder involvement |
| JEL: | M14 M29 B54 |
| Date: | 2012–11 |
| URL: | http://d.repec.org/n?u=RePEc:vnm:wpdman:34&r=hme |
| By: | Bruno, Bruna |
| Abstract: | The paper analyzes how the debate on intrinsic motivation was imported from psychology into economics. The most important differences between the two disciplines are in the definition of intrinsic motivation and in the timing of the undermining effect of rewards. The economic framework of inter-temporal choices is proposed to reconcile the different empirical and theoretical results arising in the literature, and it is shown how rewards induce substitution and income effects depending on whether they are transitory or permanent. Furthermore, a distinction between input and output oriented intrinsic motivation is introduced. |
| Keywords: | intrinsic motivation; rewards; crowding out; undermining |
| JEL: | D03 Z1 D90 |
| Date: | 2012–11 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:42717&r=hme |
| By: | Rancan, Antonella |
| Abstract: | Paolo Sylos Labini’s Oligopoly Theory and Technical Progress (1957) is considered one of the major contributions to entry-prevention models, especially after Franco Modigliani’s famous formalization. Nonetheless, Modigliani neglected Labini’s major aim when reviewing his work (JPE, 1958), particularly his demonstration of the dynamic relation between industrial concentration and economic development. Modigliani addressed only Sylos’ microeconomic analysis and the determination of the long-run equilibrium price and output, concentrating on the role played by firms’ anticipations. By doing so he shifted attention from Sylos' objective analysis to a subjective approach to oligopoly problem. This paper discusses Sylos’ and Modigliani’s differing approaches, derives the origin of the Sylos postulate and sets Modigliani’s interpretation of Sylos’ oligopoly theory in the context of his 1950s research into firms’ behaviour under uncertainty. |
| Keywords: | Modigliani, Sylos Labini, Sylos Postulate, Oligopoly Theory |
| JEL: | B13 B21 B31 |
| Date: | 2012–11–19 |
| URL: | http://d.repec.org/n?u=RePEc:mol:ecsdps:esdp12070&r=hme |
| By: | Siba, Eyerusalem; Soderbom, Mans; Bigsten, Arne; Gebreeyesus, Mulu |
| Abstract: | We use census panel data on Ethiopian manufacturing firms to analyze the connections between enterprise agglomeration, firm-level output prices and physical productivity. We find a negative and statistically significant relationship between the agglomerat |
| Keywords: | agglomeration, productivity, output prices, firm-level data, Ethiopia, Africa, manufacturing |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:unu:wpaper:wp2012-85&r=hme |
| By: | Veronika V. Eberharter |
| Abstract: | Based on longitudinal data (CNEF 1980-2010) the paper analyzes the structuring effects of individual and family background characteristics on occupational preferences, and the influence of occupational segregation on gender wage differentials in Germany, Great Britain, and the United States. Notwithstanding the country differences concerning welfare state regimes, institutional settings of the labor markets, and family role patterns, the results confirm the hypotheses of the intergenerational transmission of occupational status, and occupational segregation. The decomposition analysis shows that gender wage differentials are mainly determined by structural differences in the occupational distribution. |
| Keywords: | occupational segregation, occupational choice, intergenerational occupational mobility, wage differentials |
| JEL: | J24 J31 J62 |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwsop:diw_sp506&r=hme |
| By: | Veneziani, Roberto; Yoshihara, Naoki |
| Abstract: | This paper provides a novel axiomatic analysis of the notion of exploitation as the unequal exchange of labour in economies with heterogeneous optimising agents endowed with unequal amounts of physical and human capital. A new definition of exploitation is proposed, which emphasises the relational nature of exploitation and the resulting inequalities in the allocation of labour and income. It is shown that, among all of the major approaches, this definition is the only one satisfying two weak axioms that incorporate some key normative intuitions, and it allows one to generalise a number of core insights of exploitation theory. |
| Keywords: | Exploitation, unequal exchange of labour, Profit Exploitation Correspondence Principle |
| Date: | 2012–11 |
| URL: | http://d.repec.org/n?u=RePEc:hit:hituec:579&r=hme |
| By: | Xesús Pereira López (Economía Cuantitativa-IDEGA, USC); José Luis Quiñoá López (Economía Cuantitativa, USC); André Carrascal Incera (IDEGA, USC) |
| Abstract: | Among the many matrix updating techniques available, basic RAS and its extensions are the most popular. RAS is a biproportional adjustment method, consisting in reiterative multiplication of row and column elements of a base matrix by correction coefficients. This technique is almost invariably used on the technical coefficients matrix (or on the intermediate consumption matrix), but it is adaptable to other cases. The most usual formulation of the technique represents it as an optimization program minimizing a distance among matrixes subject to several constraints. This paper shows instead a scale algorithm representation corresponding to the direct application of RAS on the Leontief inverse matrix. The requisite for obtaining a coherent solution in this case is to work simultaneously with the demand model and the price model. |
| Keywords: | matrix updating, input-output, Leontief inverse, RAS |
| JEL: | C65 C67 D57 |
| Date: | 2012–11 |
| URL: | http://d.repec.org/n?u=RePEc:edg:anecon:0050&r=hme |
| By: | IMAI Satoshi; SHIMIZU Chihiro; WATANABE Tsutomu |
| Abstract: | The consumer price inflation rate in Japan has been below zero since the mid-1990s. However, despite the presence of a substantial output gap, the rate of deflation has been much smaller than that observed in the United States during the Great Depression. Given this, doubts have been raised regarding the accuracy of Japan's official inflation estimates. Against this backdrop, the purpose of this paper is to investigate to what extent estimates of the inflation rate depend on the methodology adopted. Our specific focus is on how inflation estimates depend on the method of outlets, products, and price sampling employed. For the analysis, we use daily scanner data on prices and quantities for all products sold at about 200 supermarkets over the last 10 years. We regard this dataset as the "universe" and send out (virtual) price collectors to conduct sampling following more than 60 different sampling rules. We find that the officially released outcome can be reproduced when employing a sampling rule similar to the one adopted by the Statistics Bureau of Japan. However, we obtain numbers quite different from the official ones when we employ different rules. The largest rate of deflation we find using a particular rule is about one percent per year, which is twice as large as the official number, suggesting the presence of substantial upward bias in the official inflation rate. Nonetheless, our results show that the rate of deflation over the last decade is still small relative to that in the United States during the Great Depression, indicating that Japan's deflation is moderate. |
| Date: | 2012–11 |
| URL: | http://d.repec.org/n?u=RePEc:eti:dpaper:12075&r=hme |
| By: | Oshio, Takashi; Inoue, Akiomi; Tsutsumi, Akizumi |
| Abstract: | Previous studies have shown that workplace social capital (WSC) affects workers' health, but its role as a moderator of the associations between job stressors and health outcomes has been largely understudied. The current study investigated whether and to what extent WSC moderates the associations between job stressors and psychological distress among Japanese workers. We used cross-sectional data (N = 9,350) collected from a baseline survey of an occupational cohort study (Japanese Study of Health, Occupation, and Psychosocial Factors Related Equity; J-HOPE) conducted among the employees of 12 companies/organizations in Japan. We focused on the bonding and horizontal aspects of WSC at the individual level, considering job demands/control, effort/reward, and two types of organizational justice (procedural and interactional justice) as job stressors. We defined psychological distress as scoring ≥5 on the K6 scale. Our multilevel, multivariate logit models showed that individual-level WSC moderated the associations of psychological distress with high job demands, high effort, and low interactional justice, but not those with low job control, reward, or procedural justice. We also observed a moderation effect of dichotomized WSC only with a higher cutoff point for high WSC. These results suggest that WSC selectively moderates the associations between job stressors and mental health and that it works as a moderator only at sufficiently high levels. |
| Keywords: | Workplace social capital, Psychological distress, Job strain, Effort-reward imbalance, Procedural justice, Interactional justice |
| Date: | 2012–11 |
| URL: | http://d.repec.org/n?u=RePEc:hit:cisdps:575&r=hme |
| By: | Hüschelrath, Kai; Laitenberger, Ulrich; Smuda, Florian |
| Abstract: | We provide an empirical assessment of EC cartel enforcement decisions between 2000 and 2011. Following an initial characterisation of our dataset, we especially investigate the determinants of the duration of cartel investigations. We are able to identify several key drivers of investigation length such as the Commission's speed of cartel detection, the type of cartel agreement, the affected industry or the existence of a chief witness. -- |
| Keywords: | Competition Policy,Empirical Analysis,Cartels,European Union,Fines,Leniency,Duration of Investigation |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:12071&r=hme |
| By: | Hüschelrath, Kai; Müller, Kathrin |
| Abstract: | We investigate the competitive effects of the merger between Delta Air Lines and Northwest Airlines (2009) in the domestic U.S. airline industry. Applying fixed effects regression models we find that the transaction led to short term price increases of about 11 percent on overlapping routes and about 10 percent on routes which experienced a merger-induced switch of the operating carrier. Over a longer period, however, our analysis reveals that both merger efficiencies and post-merger entry by competitors initiated a downward trend in prices leaving consumers with a small net price increase of about 3 percent on the affected routes. -- |
| Keywords: | airline industry,merger,market power,efficiencies,entry-inducing effects |
| JEL: | L40 L93 |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:12070&r=hme |
| By: | Hugues Bouthinon-Dumas (ESSEC Business School - ESSEC Business School); Frédéric Marty (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - CNRS : UMR7321 - Université Nice Sophia Antipolis (UNS)) |
| Abstract: | Firm strategies are deeply affected by the legal framework which rules the relationships between the economic agents regarding monopoly and cartel policy. Undertakings have to manoeuvre through a complex universe. Not only must they master the rules of the economic game of competition but also the legal rules of competition law which are characteristic of competition and add up to the aforementioned. Monopoly and cartel policy presents itself as an important limitation to the freedom of action of firms and as a source of risks because some of their behaviours or choices are likely to be challenged, even punished by the competition authorities for the sake of the market preservation. Yet, firms can be strongly tempted to be harmful to competition insomuch as cartel and monopolies or taking advantage of a dominant position are means generally efficient for reaching the goals companies are aiming at in a capitalistic economy: the increase of profits thanks to the growth of margins and the "quiet life" thanks to a better control of their environment. First we will present the bases of monopoly and cartel policy (1) then the rules that result from it (2) before taking into account the competition authority decisional practices and their consequences on the firms' strategies (3). |
| Keywords: | Politique de concurrence, abus de position dominante, cartel, insécurité juridique, approche par les effets |
| Date: | 2012–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-00727681&r=hme |
| By: | Macdonald, Ryan |
| Abstract: | This paper examines the survival characteristics of firms, using microdata from the Longitudinal Employment Analysis Program (LEAP) of Statistics Canada. Entry rates and survival functions for the 2002 cohort are analyzed. The business sector is disaggregated along industry and size dimensions. |
| Keywords: | Business performance and ownership, Entry, exit, mergers and growth |
| Date: | 2012–11–07 |
| URL: | http://d.repec.org/n?u=RePEc:stc:stcp1e:2012028e&r=hme |