In the newsvendor game, the expected-profit-maximizing order quantity is higher in the demand interval when the per-unit profit margin is high and lower in the demand interval when the per-unit profit margin is low. However, laboratory experiments show a "pull-to-center" effect: average order...

Scholars in Austrian economics have amply criticised many aspects of neoclassical economics including methodology, development economics, monetary theory, public finance and comparative economic systems. Surprisingly, little has been said on the pure theory of international trade. This paper...

This piece synthesizes the development strategies of Korea, Malaysia, Thailand and Vietnam and draws some relevant lessons. Using a complex adaptive systems approach, strategic openness, a set of heterodox macroeconomic policies, creation of institutions for productive investment in both...

This paper provides an explanation for why the sunk cost bias persists among firms in a competitive environment in which rich learning possibilities are allowed. We envision firms that experiment with cost methodologies that are consistent with real-world accounting practices, including ones...

Several economists have directed our attention to a finding in the social psychological literature that extrinsic motivation may undermine intrinsic motivation. The self-perception (SP) theory developed by Bem (1972) explains this finding. The crux of this theory is that people remember their...

ILO pub. Working paper based on a case study of decision making structures in multinational enterprises in India - describes centralized and decentralized industrial planning and decision making, labour relations, joint consultation with trade unions, collective agreements concerning enterprise...

ILO pub. Working paper commenting on labour legislation provisions concerning the disclosure of information in respect of decision making and workers representation at the international and national level in multinational enterprises - examines multinational bargaining practices and the role of...

ILO pub. Working paper, comparison of decision making process in foreign enterprise subsidiarys of American and Japanese multinational enterprise located in the UK - contrasts the role of USA management attitudes in the 1950s with role of Japanese industrial management in the 1980s; covers...

ILO pub. Working paper, evaluation of three case studies of decision making regarding enterprise restructuring in multinational enterprises originating in Canada, the USA and Western Europe - examines the role of management attitude, business organization, capital resources and size of...