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A Model of Primary and Secondary Waves in Investment Cycles

Fioretti, Guido - EconWPA - 2002

. Uniting Schumpeter's concern for innovation with Keynes' concern for uncertainty and expectations formation, this article … focuses on the behaviour of entrepreneurs confronting uncertainty caused by innovation. Entrepreneurs' behaviour is … opened up by a successful innovation generates a state of optimism in the minds of single entrepreneurs, which eventually …

Persistent link: https://www.econbiz.de/10005077089

Evidence Theory: A Mathematical Framework for Unpredictable Hypotheses

Fioretti, Guido - EconWPA - 2002

Shafer's evidence theory is a branch of the mathematics of uncertain reasoning that allows for novel possibilities to be conceived by a decision-maker. Many of its findings exhibit striking similarities with an alternative decision theory purported by Shackle in the 1950s, before expected...

Persistent link: https://www.econbiz.de/10005125582

A Cognitive Model of the Learning Curve

Fioretti, Guido - EconWPA - 2002

This article provides a cognitive foundation of the parameters that regulate a model of the learning curve. Organizational learning and its actual occurrence are linked to the number of available categories and to the amount of information to be processed.

Persistent link: https://www.econbiz.de/10005561382

The Inequality of Influence

Hellman, Joel; Kaufmann, Daniel - EconWPA - 2003

This paper develops a proxy measure of the inequality of influence on the basis of survey evidence from 2002 Business Environment and Enterprise Performance Survey (BEEPS) conducted among 6,500 firms in 27 transition countries. We refer to the resulting inequality as crony bias in the political...

Persistent link: https://www.econbiz.de/10005407672

Far From Home: Do Foreign Investors Import Higher Standards of Governance in Transition Economies?

Hellman, Joel S.; Jones, Geraint; Kaufmann, Daniel - EconWPA - 2003

Based on the Business Environment and Enterprise Performance Survey (BEEPS) of firms in transition countries, which unbundles corruption to measure different types of corrupt transactions and provide detailed information on the characteristics and performance of firms, we find that: i)...

Persistent link: https://www.econbiz.de/10005407674

Measuring Governance, Corruption and State Capture: How Firms and Bureaucrats Shape the Business Environment in Transition Economies

Hellman, Joel S.; Jones, Geraint; Kaufmann, Daniel; … - EconWPA - 2003

Recent studies have focussed on the characteristics and policies of the state to explain the extent and causes of corruption, with little attention paid to the role played by firms. Consequently, the links between corporate governance and national governance have been unexplored. This paper...

Persistent link: https://www.econbiz.de/10005407751

Sustained Macroeconomic Reforms, Tepid Growth: A Governance Puzzle in Bolivia?

Kaufmann, Daniel; Mastruzzi, Massimo; Zavaleta, Diego - EconWPA - 2003

We are increasingly cognizant of the limits to large cross-country empirical studies in trying to understand in-depth a particular country reality, in ways useful for advice. At the same time, merely relying on a single country account at a particular point in time ignores the historical and...

Persistent link: https://www.econbiz.de/10005118669

Rethinking Governance: Empirical Lessons Challenge Orthodoxy

Kaufmann, Daniel - EconWPA - 2003

In this discussion draft, linking research findings with concrete operational challenges, we review key issues in worldwide governance, and present recent empirical evidence. Focusing on defining and unbundling key governance components, such as rule of law, voice and accountability, corruption...

Persistent link: https://www.econbiz.de/10005561333