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Playing to your strength or overcoming your weakness: the role of effort substitutability in skill formation

Liu, Liqun - In: Economics Bulletin 34 (2014) 1, pp. 99-105

This paper studies the allocation of a given time budget among a number of skill-building efforts to maximize an overall skill level. The main finding is that as an effort becomes relatively more effective, the time share of the effort should increase and the time shares of the other efforts...

Persistent link: https://www.econbiz.de/10010835942

Changes in the Characteristics and Skills of British Youth

Johnes, Geraint - In: Economics Bulletin 29 (2009) 1, pp. 368-374

Changes in the characteristics and skills of British youths between the mid-1980s and mid-2000s are evaluated using a … method recently developed by Altonji et al. The main finding is that skills have increased over time in successive cohorts of … young people. The improvement is, however, uneven, and those at the bottom end of the skills distribution have benefitted …

Persistent link: https://www.econbiz.de/10008562914

Electricity pricing in China and the role of the State

Beirne, John; Liu, Guy; Zhang, Liang - In: Economics Bulletin 32 (2012) 1, pp. 466-474

Theoretical and empirical evidence is presented to show that inefficient power firms in China are subsidised by the state through the ability to charge high electricity prices and the creation of a â€œsoft price constraintâ€ on costs. This cost inefficiency challenges the merits of...

Persistent link: https://www.econbiz.de/10011278510

Ownership concentration, monitoring, and optimal board structure

Graziano, Clara; Luporini, Annalisa - In: Economics Bulletin 32 (2012) 4, pp. 3333-3346

We analyze the choice between a one-tier and a two-tier board structure in a firm with a large shareholder sitting on the board. The board has two tasks: project selection and monitoring the ability of the manager. In a one-tier structure, the sole board performs all tasks. In a two-tier...

Persistent link: https://www.econbiz.de/10011278523

Patent Licensing in a Mixed Oligopoly with a Foreign Firm

Ye, Guangliang - In: Economics Bulletin 32 (2012) 2, pp. 1191-1197

This paper investigates optimal licensing in a mixed oligopoly with a foreign firm. It is the first to compare licensing by means of a fixed fee and by means of a royalty when the innovator is a public firm. In contrast to a private oligopoly, we show that license via a fixed fee is superior to...

Persistent link: https://www.econbiz.de/10011278633

An agent-based model approach to innovation niche creation in socio-technical transition pathways

Lopolito, Antonio; Morone, Piergiuseppe; Taylor, Richard - In: Economics Bulletin 31 (2011) 2, pp. 1780-1792

The creation of an innovation niche depends on the interaction of three mechanisms involving: converging expectations, adequate level of individual and network power and efficient knowledge creation and diffusion (Lopolito and Morone, 2010). Such mechanisms define the key characteristics of a...

Persistent link: https://www.econbiz.de/10011278719

Firm-Size and Inter-hierarchy Wage Dispersion in Shanghai

Mishra, Vinod; Smyth, Russell - In: Economics Bulletin 31 (2011) 3, pp. 2159-2166

For a sample of Shanghai firms, we find that while larger firms pay lower wages, managers in larger firms still receive higher wages. There are two reasons for this result. The wage gap between managers and non-managers is positively correlated with firm size and larger firms have a lower...

Persistent link: https://www.econbiz.de/10011278745

Optimal Organization

Vafaï, Kouroche - In: Economics Bulletin 32 (2012) 1, pp. 518-527

A contract-based model of the endogenous determination of an organization's architecture is considered where a principal has the choice between a two- and a three-level organization. Each organizational architecture is plagued with its own specific form(s) of opportunism. We derive the...

Persistent link: https://www.econbiz.de/10011278777

Individual risk attitude, product innovation and firm performance. Evidence from survey data.

Cucculelli, Marco - In: Economics Bulletin 32 (2012) 4, pp. 3197-3212

We use survey data on individual risk attitude and discount rates to test the impact of individual risk profile on the firm innovation activity and firm performance. Empirical evidence from 163 Italian entrepreneurs shows that risk-loving individuals and individuals with smaller than average...

Persistent link: https://www.econbiz.de/10011278790

Fees versus Royalties under Partial Cross Ownership

Chen, Hsiao-chi; Shieh, Shiou; Su, Pu-ti - In: Economics Bulletin 30 (2010) 4, pp. 3248-3259

This paper studies an independent patent-holder's licensing of a process innovation to a Cournot duopoly characterized by partial cross ownership. We find that royalty licensing is preferred by the patentee when the degree of cross ownership is high, whereas fixed fee licensing is preferred when...

Persistent link: https://www.econbiz.de/10011278808

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