This paper extends the now familiar Shapiro-Stiglitz (1984) model of labor market behavior to reconsider the controversial proposition that some forms of innovation have persistent displacement effects. In particular, it finds that when distinctions between random production failures and reduced...

The stylized facts of ultimatum bargaining in the experimental lab are that offers tend to be near an equal split of the surplus and low, near perfect offers are routinely rejected. Bimmore et al (1995) use aspiration-based evolutionary dynamics to model the evolution of fair play in a binary...

Aqua Universitas, the unique Anglian Water learning organization, is based on the federal concept which encourages a number of learning initiatives to co‐exist within a common vision. It allows a variety of needs to be represented. Aqua Universitas is linked to the operating company of Anglian...

This paper reports on the development of Aqua Universitas ‐ Anglian Water’s University of Water ‐ and the Company’s journey towards wisdom creation. It supports the Company’s vision of “creating and sustaining knowledge for sustainable water management”. This vision draws on the...

The notion that Marx neither understood nor advocated the use of mathematics is a persistent one. His interest in both commercial and abstract mathematics spanned more than two decades however, and culminated in two "contributions" to the foundations of the calculus: "On the Concept of the...

Recently economists have become interested in why people who face social dilemmas in the experimental lab use the seemingly incredible threat of punishment to deter free riding. Three theories have evolved to explain punishment. We survey each theory and se behavioral data from surveys and...

We conduct a survey and find that 47% of respondents state they would sanction free riders in a team production scenario even though the respondent was not personally affected and no direct benefits could be expected to follow an intervention. To understand this phenomenon, we define social...