nep-knm New Economics Papers
on Knowledge Management and Knowledge Economy
Issue of 2021‒07‒26
three papers chosen by
Laura Ştefănescu
Centrul European de Studii Manageriale în Administrarea Afacerilor

  1. Limited Self-Knowledge and Survey Response Behavior By Armin Falk; Thomas Neuber; Philipp Strack
  2. Economic Development of Quang Nam Province Compared with The Whole Economy Based on Three Strategic Breakthroughs By Ly Dai Hung
  3. Assessing Smart Specialisation: Policy Implementation Measures By Ugo Fratesi; Carlo Gianelle; Fabrizio Guzzo

  1. By: Armin Falk; Thomas Neuber; Philipp Strack
    Abstract: We study response behavior in surveys and show how the explanatory power of selfreports can be improved. First, we develop a choice model of survey response behavior under the assumption that the respondent has imperfect self-knowledge about her individual characteristics. In panel data, the model predicts that the variance in responses for different characteristics increases in self-knowledge and that the variance for a given characteristic over time is non-monotonic in self-knowledge. Importantly, the ratio of these variances identifies an individual’s level of self-knowledge, i.e., the latter can be inferred from observed response patterns. Second, we develop a consistent and unbiased estimator for self-knowledge based on the model. Third, we run an experiment to test the model’s main predictions in a context where the researcher knows the true underlying characteristics. The data confirm the model’s predictions as well as the estimator’s validity. Finally, we turn to a large panel data set, estimate individual levels of self-knowledge, and show that accounting for differences in self-knowledge significantly increases the explanatory power of regression models. Using a median split in self-knowledge and regressing risky behaviors on self-reported risk attitudes, we find that the R2 can be multiple times larger for above- than below-median subjects. Similarly, gender differences in risk attitudes are considerably larger when restricting samples to subjects with high self-knowledge. These examples illustrate how using the estimator may improve inference from survey data.
    Keywords: survey research, rational inattention, lab experiment, non-cognitive skills, preferences
    JEL: C83 D83 C91 D91 J24
    Date: 2021–07
  2. By: Ly Dai Hung (Vietnam Institute of Economics, Hanoi, Vietnam)
    Abstract: The paper analyzes the development pathway of Quang Nam province in comparison with the whole economy, based on the dynamics of three strategic breakthroughs including institution, human capital and infrastructure. The research method combines qualitative and quantitative analysis, based on a sample of 63 provinces in Vietnam covering the 2010-2019 period. The qualitative results show that Quang Nam has remarkable achievements with higher economic growth and more equal income distribution than the country average. Moreover, according to the quantitative results, Quang Nam has a better income convergence than the prediction by empirical models based on three strategic breakthroughs.
    Keywords: Economic of Regions and Provinces,Quang Nam,Economic Development,Cross-Section Regression
    Date: 2021–04
  3. By: Ugo Fratesi (Polytechnic University of Milan); Carlo Gianelle (European Commission - JRC); Fabrizio Guzzo (European Commission - JRC)
    Abstract: The objective of this report is to provide an account of how and to what extent the Smart Specialisation approach to regional innovation policy has been implemented in practice. The analysis explores how policy measures implemented under the Thematic Objective 1 “Strengthening research, technological development and innovation” of national and regional Operational Programmes, co-financed by the European Regional Development Fund, have incorporated key Smart Specialisation principles during the 2014-2020 programming period. We identify three main design principles of Smart Specialisation and translate them into three research hypotheses characterized in ways that can be tested empirically.We find that the Smart Specialisation strategies under scrutiny mostly apply a limited portfolio of traditional, supply-side instruments. All things considered, there is limited evidence of the implementation of a truly selective intervention logic aimed to support in a dedicated way different investment priorities. We observe quite pervasive support to the establishment of a critical mass of individual and collaborative entrepreneurial initiatives in all the Smart Specialisation areas, while support to the formation and strengthening of stakeholder communities is only present in a very few territories. We find positive although not widespread evidence of the introduction of novel elements in the design of some instruments; this points to a tentative break with tradition and path dependency which is in line with the spirit of Smart Specialisation. Policy implications for the future development and evolution of European regional innovation policy are derived.
    Keywords: regional innovation policy, Smart Specialisation, policy instruments, implementation measures
    JEL: O25 O30 R12 R58
    Date: 2021–07

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