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This paper tries to account for endogenous change of multi-level routines in terms of nested cycles of discovery, in a hierarchy of scripts.Higher-level scripts constitute the selection environment for lower level ones.On any level, a cycle of discovery proceeds from established dominant...
Persistent link: https://www.econbiz.de/10011091106
This paper presents elements of a cognitive theory of the firm, from the perspective of embodied cognition.It entails the notion of 'cognitive distance' between people that have developed their cognition in different environments. This yields the notion of the firm as a 'focusing device', to...
Persistent link: https://www.econbiz.de/10011092814
Persistent link: https://www.econbiz.de/10011092450
and material information to the capital market.In contrast to previous studies which mainly concentrate on North … that suspension is indeed an effective means of disseminating new information.Stock prices adjust completely and … instantaneously to the new information released during trading suspensions.We also observe a significant increase in trading volume …
Persistent link: https://www.econbiz.de/10011090925
Recent insights from the ‘embodied cognition’ perspective in cognitive science, supported by neural research, provide a basis for a ‘methodological interactionism’ that transcends both the methodological individualism of economics and the methodological collectivism of (some) sociology,...
Persistent link: https://www.econbiz.de/10011090343
This paper uses a cognitive theory of firms and organizations, with a focus on learning and innovation.Here, cognition is a wide notion, including value judgments and corresponding feelings and emotions.This paper focuses on the relation between that cognitive theory and Penrose's theory of the...
Persistent link: https://www.econbiz.de/10011090370
and preemption are very unlikely, thus the R&D duration choices of firms are determined by the actual trade-off between …
Persistent link: https://www.econbiz.de/10011090575
The two major methods of explaining economic institutions, namely by strategic choices or by (indirect) evolution, are compared for the case of a homogenous quadratic duopoly market. Sellers either can provide incentives for their agents to care for sales (amounts) or evolve as sellers who care...
Persistent link: https://www.econbiz.de/10011091056
This paper analyses the impact of capital income taxes on financial and investment decisions of corporations.Extending Sinn's (1991) nucleus theory of the firm with debt finance, the model determines the optimal sources of finance (debt, newly issued equity or retained earnings), the optimal use...
Persistent link: https://www.econbiz.de/10011091511
Numerical simulations of the two-country sectoral model are provided for a relatively large number of structural shocks as domestic and foreign productivity shocks in final tradables and non-tradables, money demand shocks and a shock in the exchange rate. Such a model is well suited for monetary...
Persistent link: https://www.econbiz.de/10011091596