Scotchmer and Wooders (1987) show that efficient clubs are homogeneouswhen consumers are divisible in Berglas’s (1976) anonymouscrowding model. However, if consumers are not divisible or ifclubs have multiple facilities with economies of scope, mixed clubs areefficient. In such a model, we...

In a series of recent papers, Mark Roe and Lucian Bebchuk have developed further the concept of path dependence, combined it with concepts of evolution and used it to challenge the wide-spread view that the corporate governance systems of the major advanced economies are likely to converge...

This essay argues that economic systems should be defined in terms of clusters ofcomplementary institutions. To show how such an approach can be carried out, I use acluster analysis technique and data on forty different economic institutions in OECDnations to isolate four quite different...

Open Road strongly endorses the move towards professionalism being led by CII. This is essential both in the public interest, and in the interests of CII members and the insurance and financial services industry generally. In summary the recommendations fall into six principal areas.[...]

Dieser Beitrag skizziert ein wirtschaftsethisches Gesprächsangebot an die Theologie.Aus der Perspektive des ordonomischen Ethik-Ansatzes werden methodisch drei kategorialeDenkfehler identifiziert: ein intentionalistischer, ein moralistischer und ein individualethischerFehlschluss.[...]

The purpose of this article is to develop an ordonomic conceptualization of corporate citizenshipand new governance that (a) provides a framework for positively explaining thepolitical participation of companies in new governance processes and (b) does not weakenbut instead strengthens the...