Meeting blindly… is Austrian economics useful for dynamic capabilities theory?
This paper presents competition studies and views on competition policy within Austrian economics related to the dynamic capabilities theory. The idea of interacting research programs in economics is used to provide the frame for reflections on particular issues of discussion: competition, on the one hand, and (1) ignorance, (2) knowledge (including tacit knowledge), (3) rationality, (4) equilibrium, (5) innovation, (6) entrepreneurship, and (7) monopoly, on the other hand. Unlike the majority of previous studies, these issues are discussed here mainly through the lens of new institutional economics. Williamson’s three-level scheme is used to explain opportunities and constraints for mutually enriching exchange of concepts between different but close approaches in economic studies. This paper shows that there are important interconnections and complementarities despite significant differences in objects of study and weak mutual flows of ideas and concepts.
Frontiers of Entrepreneurship Research is a compilation of the conference proceedings and the top papers presented each year at the Babson College Entrepreneurship Research Conference (BCERC). BCERC is widely considered the premier research conference on entrepreneurship and the work truly exemplifies new frontiers in the discipline of entrepreneurship. Full text papers are peer reviewed; summaries, poster sessions and interactive papers are not.
This is the first paper on consumer search where the cost of going back to stores already searched is explicitly taken into account. We show that the optimal sequential search rule under costly second visits is very different from the traditional reservation price rule in that it is nonstationary and not independent of previously sampled prices. We explore the implications of costly second visits on market equilibrium in two celebrated search models. In the Wolinsky model some consumers search beyond the first firm and in this class of models costly second visits do make a substantive difference: equilibrium prices under costly second visits can both be higher and lower than their perfect recall analogues. In the oligopoly search model of Stahl where consumers do not search beyond the first firm, there remains a unique symmetric equilibrium that has firms use pricing strategies that are identical to the perfect recall case.
The case addresses the problems of managing strategic change in a small business company Kislorod Plus (Niznhny Novgorod, Russia) – a local trader of welding equipment. The story starts with firing the company’s executive, who took a number of dramatic mistakes, and thus failed implementing corporate strategy, ruined the economy of the firm, and created a significant threat of bankruptcy. Notwithstanding all the problems of the heavy crisis, the company and the situation still have a number of opportunities that are to be recognized and pursued in order to save the business and lead the company to prosperity.
The volume deals with the current frontier research in entrepreneurship theory in Europe on contextual and processual specifics of entrepreneurial practice
The book contains papers by the leading contemporary researchers of entrepreneurship who belong to the group of awardees of the Global awared in entrepreneurship research as well as outlines of their research activities. First concise collection of the mainstream entrepreneurship research ideas of the end of the 20th - beginning of the 21th centuries.
One of the most popular statements in the systemic transition literature since the second half of the 1990th is that different experiences of the CEE and Baltic states, on the one hand, and the most of the CIS countries, on the other hand, are embedded in different social norms and values, encouraging efforts in the new EU member states and preventing it in some of CIS countries.
This paper examines determinants of corruption across Russian regions. Key contributions include: (i) a formal study of economic corruption determinants across Russian regions; (ii) comparisons of determinants of perceived corruption versus those of actual corruption; and (iii) studying the influence of market competition and other factors on corruption. The re-sults show that economic prosperity, population, market competition and urbanization are significant determinants of Russian corruption. The use of alternative corruption measures reveals that economic prosperity and population have a largely similar impact on corrup-tion perceptions and corruption incidence. However, there are significant differences in the effects of competition and urbanization.
In the paper integrated information systems for corporate planning and budgeting are considered. Four groups of practical tasks exceeding the bounds of typical functionality of special-purpose planning and budgeting information systems are allocated. Several classes of information systems (simulation, statistical analysis, financial analysis and modeling, group decision making, business intelligence), which may provide the completeness of corporate planning and budgeting are denoted as solutions complementary to special-purpose planning and budgeting systems.
The book contains teaching materials and notes on the study course “Entrepreneurship”.
Smoking is a problem, bringing signifi cant social and economic costs to Russiansociety. However, ratifi cation of the World health organization Framework conventionon tobacco control makes it possible to improve Russian legislation accordingto the international standards. So, I describe some measures that should be taken bythe Russian authorities in the nearest future, and I examine their effi ciency. By studyingthe international evidence I analyze the impact of the smoke-free areas, advertisementand sponsorship bans, tax increases, etc. on the prevalence of smoking, cigaretteconsumption and some other indicators. I also investigate the obstacles confrontingthe Russian authorities when they introduce new policy measures and the public attitudetowards these measures. I conclude that there is a number of easy-to-implementanti-smoking activities that need no fi nancial resources but only a political will.
One of the most important indicators of company's success is the increase of its value. The article investigates traditional methods of company's value assessment and the evidence that the application of these methods is incorrect in the new stage of economy. So it is necessary to create a new method of valuation based on the new main sources of company's success that is its intellectual capital.