...American Economic Review: Papers & Proceedings 2009, 99:2, 448–453 http://www.aeaweb.org/articles.php?doi=10.1257/aer.99.2.448 Beliefs and disagreement in OrganizatiOns † Authority versus Persuasion By Eric Van den Steen* Managers often face a choice between authority and persuasion. In particular, since a firm’s formal and relational contracts and its culture and norms are quite rigid in the short term, a manager who needs to prevent an employee from undertaking the wrong action has the choice between either trying to persuade this employee or relying on interpersonal authority.1 Herbert Simon (1947) noted, for example, that “when … disagreement is not resolved by discussion, persuasion, or other means of conviction, then it must be decided by the authority of one or the other participant” and that “in actual practice … authority is liberally admixed with suggestion and persuasion.” Obviously, in choosing between persuasion and authority, the manager makes a cost-benefit trade-off. This paper studies that trade-off, focusing in particular on agency conflicts that originate in open disagreement, in the sense of differing priors. To that purpose, I will study a setting in which a principal and an agent are involved in a project. The project’s outcome depends both on decisions and on implementation effort by the agent, i.e., on effort to execute the decisions. A key issue is that the principal and agent may openly disagree on which decisions are most likely to † Discussants:...
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...State versus Private Ownership Andrei Shleifer Department of Economics Harvard University Cambridge, Massachusetts. Abstract Private ownership should generally be preferred to public ownership when the incentives to innovate and to contain costs must be strong. In essence, this is the case for capitalism over socialism, explaining the "dynamic vitality" of free enterprise. The great economists of the 1930s and 1940s failed to see the dangers of socialism in part because they focused on the role of prices under socialism and capitalism, and ignored the enormous importance of ownership as the source of capitalist incentives to innovate. Moreover, many of the concerns that private firms fail to address “social goals” can be addressed through government contracting and regulation, without resort to government ownership. The case for private provision only becomes stronger when competition between suppliers, reputational mechanisms, the possibility of provision by private not-for-profit firms, as well as political patronage and corruption, are brought into play. 1 What kinds of goods and services should be provided by government employees as opposed to private firms? Should government workers make steel and cars in government-owned factories? Should teachers and doctors be publicly employed or should they work for private schools and practices? Should garbage be picked up by civil servants or employees of private garbage haulers? Should the whole economy be "socialized"? Although...
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...Ethical Responsibility in Pharmacy Practice Robert A. Buerki, Ph.D. Professor Division of Pharmacy Practice and Administration The Ohio State University Louis D. Vottero, M.S. Professor of Pharmacy Emeritus Ohio Northern University American Institute of the History of Pharmacy Madison, Wisconsin 2002 Acknowledgments: Pages 208-10: "Principles of Medical Ethics" and "Fundamental Elements of the Patient-Physician Relationship," reprinted with permission from the Code of Medical Ethics, American Medical Association, © 1994 and © 2000. AMA logo reprinted with the permission of the American Medical Association. © 2002 American Medical Association. Usage of the AMA logo does not imply an endorsement of the non-AMA material found in this book. Page 211: "Code of Ethics for Nurses with Interpretive Statements," reprinted with permission from the American Nurses Association, © 2001 American Nurses Publishing, American Nurses Foundation/American Nurses Association, Washington, D.C. Pages 212-15: "A Patient's Bill of Rights," reprinted with permission of the American Hospital Association, © 1992. Pages 216-17: "Pharmacy Patient's Bill of Rights," reprinted with permission of the National Association of Boards of Pharmacy. On the cover: The "triad of medical care" has been the basis for the ethical relationship between the pharmacist, the physician, and the patient for centuries. In the background, an early depiction of the triad from Book 7 of the encyclopedia...
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...* Tracking the economic value of the embedded technology: Future outlook and trends: The Embedded Digital Technology use in our everyday life is highly significant. To some estimate, around 98% of all the programmable digital devices are in some way embedded which includes the digital devices which embedded under the humans skin. Both current and future studies and trends suggests to a dramatic potential for a much bigger growth. All the future outlooks of this technology points to a much wider use based on both enhanced functionality and cost reduction. “There are now more embedded devices than people on earth. As chips and wireless communications become universal and inexpensive, an enormous potential is created for new applications and novel ways to support our society and people’s lives” said Viviane Reding The former European Commissioner for the Directorate General Information Society & Media. This study by author Geomina Turlia and conducted with the support of European Commission, focused on the inter-linked between macro and micro approach to the technology so it can support the importance of the proposed overall methodology when looking into the economic value of the embedded devices in general. However, it is as important for implementation purposes to also use other supported tools like using a European National Accounts Data so finding the correct economic value can be refined specifically when more needed sectorial or thematic studies can be further conducted...
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...THE PROBLEM AND ITS BACKGROUND As the environment around you changes, you can either attribute success and failure to things you have control over, or to forces outside your influence. Which orientation you choose has a bearing on your long-term success. This orientation is known as your "locus of control". Locus of control is concerned with “the question of whether or not an individual believes that his own behavior, skills or internal disposition determine what reinforcements he receives” (Rotter, Change, & Phares, 1972), and refers to a person’s beliefs about control over life events. Those with an internal locus of control believe that the consequences of their behavior are under their personal control and that they are effective in controlling their destiny and determining the occurrence of reinforcement, and feel personally responsible for the things that happen to them; those with an external locus of control believe that the outcomes of their performances in life are determined by forces beyond their control (e. g., fate, chance, luck, powerful others and supernatural forces) and that they determine the occurrence of specified events. As Rotter (1966) pointed out, the effect of reinforcement “depends on whether or not the person perceives a causal relationship between his own behavior and the reward” (p. 1) As cited by Samaei (Samaei, Ramezani, & Semnani, 2012) in his study, to some researchers such as Rotter (1986), Heinrich & Gullone (2006) and Ekwall...
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...John Van Reenen Working Paper 16019 http://www.nber.org/papers/w16019 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2010 This paper has been prepared for a chapter in the Handbook of Labor Economics Volume IV edited by David Card and Orley Ashenfelter. We would like to thank the Economic and Social Research Council for their financial support through the Center for Economic Performance. This survey draws substantially on joint work with Daron Acemoglu, Philippe Aghion, Eve Caroli, Luis Garicano, Christos Genakos, Claire Lelarge, Ralf Martin, Raffaella Sadun and Fabrizio Zilibotti. We would like to thank Orley Ashenfelter, Oriana Bandiera, Alex Bryson, David Card, Edward Lazear, Paul Oyer, John Roberts, Kathy Shaw and participants in conferences in Berkeley and the LSE for helpful comments. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. © 2010 by Nicholas Bloom and John Van Reenen. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. Human Resource Management and Productivity Nicholas Bloom and John Van Reenen NBER Working Paper No. 16019 May 2010 JEL No. L2,M2,O32,O33 ABSTRACT In this handbook of labor economics chapter we examine the relationship between Human Resource Management (HRM) and productivity. HRM...
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...EDUCATION QUALITY AND ECONOMIC GROWTH Education Quality and Economic Growth Education Quality and Economic Growth Eric A. Hanushek Ludger Wößmann THE WORLD BANK Washington, DC © 2007 The International Bank for Reconstruction and Development / The World Bank 1818 H Street NW Washington DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org E-mail: feedback@worldbank.org All rights reserved 1 2 3 4 5 10 09 08 07 This volume is a product of the staff of the International Bank for Reconstruction and Development / The World Bank. The findings, interpretations, and conclusions expressed in this volume do not necessarily reflect the views of the Executive Directors of The World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgement on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Rights and Permissions The material in this publication is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. The International Bank for Reconstruction and Development / The World Bank encourages dissemination of its work and will normally grant permission to reproduce portions of the work promptly. For permission to photocopy...
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...PROJECT ON AMERICA AND THE GLOBAL ECONOMY SERIES ON GLOBALIZATION “ Moving to the middle ground on globalization is difficult and will take time... But in order to achieve real progress, we must “break the ice” by taking the concerns of the critics seriously and responding with constructive action rather than just more talk.” In WEIGHING THE PROS AND CONS OF GLOBALIZATION this presentation, Weidenbaum makes five key recommendations: • Make the World Trade Organization More Transparent • Ease the transition of people hurt by globalization • Strengthen the International Labor Organization • Use the Internet to give consumers an educated voice on overseas production • Welcome voluntary business standards Murray Weidenbaum holds the Mallinckrodt Distinguished University Professorship at Washington University in St. Louis, where he is also honorary chairman of the Weidenbaum Center on the Economy, Government, and Public Policy. Dr. Weidenbaum served as Assistant Secretary of Treasury for Economic Policy in the Nixon Administration and as President Reagan’s first Chair of the Council of Economic Advisers. 1300 Pennsylvania Avenue, NW Washington, D.C. 20004-3027 www.wilsoncenter.org MURRAY WEIDENBAUM WEIGHING THE PROS AND CONS OF GLOBALIZATION Remarks by MURRAY WEIDENBAUM A Presentation to the Woodrow Wilson International Center for Scholars Washington, D.C. March 5, 2003 WOODROW WILSON INTERNATIONAL CENTER...
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...its effects. Keywords: globalization, inequality, economic growth, government spending, privatization ___________________________________________________________ * Nancy Brune is a doctoral candidate at Yale University. She can be reached at nbrune@isop.ucla.edu. Geoffrey Garrett is Vice Provost and Dean of the International Institute, Director of the Ronald W. Burkle Center for International Relations, and Professor of Political Science at UCLA. He can be reached at ggarrett@international.ucla.edu. The authors Alexandra Guisinger, David Nickerson and Jason Sorens for their assistance with data collection. Many of the thoughts discussed here have also been influenced by conversations with Sebastian Edwards, Stephan Haggard, Edward Leamer, Robert Kaufman, Ronald Rogowski, Kenneth Scheve, Mathew Slaughter and George Tsebelis. We've seen the result (of globalization). The spread of sweatshops. The resurgence of child labor, prison and forced labor....
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...PROGRAM ON THE GLOBAL DEMOGRAPHY OF AGING Working Paper Series Population Dynamics in India and Implications for Economic Growth David E. Bloom January 2011 PGDA Working Paper No. 65 http://www.hsph.harvard.edu/pgda/working.htm The views expressed in this paper are those of the author(s) and not necessarily those of the Harvard Initiative for Global Health. The Program on the Global Demography of Aging receives funding from the National Institute on Aging, Grant No. 1 P30 AG024409-06. 1 Population Dynamics in India and Implications for Economic Growth1 David E. Bloom Harvard School of Public Health January 2011 Keywords: Age structure China-India comparison Conditional convergence Demographic dividend Demographic transition Economic growth Economic growth in India Policy reform Population health Population of India Abstract Demographic change in India is opening up new economic opportunities. As in many countries, declining infant and child mortality helped to spark lower fertility, effectively resulting in a temporary baby boom. As this cohort moves into working ages, India finds itself with a potentially higher share of workers as compared with dependents. If working-age people can be productively employed, India’s economic growth stands to accelerate. Theoretical and empirical literature on the effect of demographics on labor supply, savings, and economic growth underpins this effort to understand and forecast economic growth in India. Policy choices...
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...Journal of Economic Perspectives—Volume 29, Number 3—Summer 2015—Pages 3–30 Why Are There Still So Many Jobs? The History and Future of Workplace Automation† David H. Autor T here have been periodic warnings in the last two centuries that automation and new technology were going to wipe out large numbers of middle class jobs. The best-known early example is the Luddite movement of the early 19th century, in which a group of English textile artisans protested the automation of textile production by seeking to destroy some of the machines. A lesser-known but more recent example is the concern over “The Automation Jobless,” as they were called in the title of a TIME magazine story of February 24, 1961: The number of jobs lost to more efficient machines is only part of the problem. What worries many job experts more is that automation may prevent the economy from creating enough new jobs. . . . Throughout industry, the trend has been to bigger production with a smaller work force. . . . Many of the losses in factory jobs have been countered by an increase in the service industries or in office jobs. But automation is beginning to move in and eliminate office jobs too. . . . In the past, new industries hired far more people than those they put out of business. But this is not true of many of today’s new industries. . . . Today’s new industries have comparatively few jobs for the unskilled or semiskilled, just the class of workers whose jobs are being eliminated...
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...NBER WORKING PAPER SERIES MOBILE BANKING: THE IMPACT OF M-PESA IN KENYA Isaac Mbiti David N. Weil Working Paper 17129 http://www.nber.org/papers/w17129 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2011 We are grateful to Taryn Dinkelman, John Driscoll, Frederik Eijkman, James Habyarimana, Stephen Mwaura, Benno Ndulu, Pauline Vaughn, Dean Yang and seminar participants at Tulane University and the NBER Africa Success Conference for helpful comments and suggestions. Emilio Depetris Chauvin, Federico Droller, Richard Amwayi Namolo, Angeline Nguyen, Scott Weiner and Jingjing Ye provided superb research assistance. We are grateful to the Financial Sector Deepening (FSD) Trust of Kenya and Pep Intermedius for providing us with data. Financial support for this research was graciously provided by the NBER Africa Success Project. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. © 2011 by Isaac Mbiti and David N. Weil. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. Mobile Banking: The Impact of M-Pesa in Kenya Isaac Mbiti and David N. Weil NBER Working Paper No. 17129 June 2011 JEL No. E40,O16,O33 ABSTRACT M-Pesa is a mobile phone based money transfer system in Kenya which grew at a blistering...
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...Etymology Psychiatry. Further information: Outline of psychology and Index The word psychology literally means, “study of the soul" of psychology articles (ψυχή psukhē, “breath, spirit, soul” and -λογία -logia, “study of” or “research”).[10] The Latin word psycholoPsychology is an academic and applied discipline that gia was first used by the Croatian humanist and Latinist involves the scientific study of mental functions and Marko Marulić in his book, Psichiologia de ratione anbehaviors.[1][2] Psychology has the immediate goal of imae humanae in the late 15th century or early 16th understanding individuals and groups by both establish- century.[11] The earliest known reference to the word ing general principles and researching specific cases,[3][4] psychology in English was by Steven Blankaart in 1694 and by many accounts it ultimately aims to benefit in The Physical Dictionary which refers to “Anatomy, society.[5][6] In this field, a professional practitioner or which treats the Body, and Psychology, which treats of researcher is called a psychologist and can be classified the Soul.”[12] as a social, behavioral, or cognitive scientist. Psychologists attempt to understand the role of mental functions in individual and social behavior, while also exploring the physiological and biological processes that underlie cognitive functions and behaviors. 2 History Psychologists explore concepts such as perception, cognition, attention, emotion, intelligence, Main article: History...
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...American Economic Association Financial Dependence and Growth Author(s): Raghuram G. Rajan and Luigi Zingales Source: The American Economic Review, Vol. 88, No. 3 (Jun., 1998), pp. 559-586 Published by: American Economic Association Stable URL: http://www.jstor.org/stable/116849 Accessed: 06-07-2015 21:29 UTC Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at http://www.jstor.org/page/ info/about/policies/terms.jsp JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org. American Economic Association is collaborating with JSTOR to digitize, preserve and extend access to The American Economic Review. http://www.jstor.org This content downloaded from 14.139.224.146 on Mon, 06 Jul 2015 21:29:52 UTC All use subject to JSTOR Terms and Conditions FinancialDependence and Growth By RAGHURAM G. RAJAN AND LUIGI ZINGALES* This paper examines whetherfinancial developmentfacilitates economic growth by scrutinizing one rationale for such a relationship: thatfinancial development reduces the costs of external finance to firms. Specifically, we ask whether in-dustrial sectors that are relatively more in need of externalfinance develop...
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...American Business Law Journal Volume 45, Issue 2, 283–330, Summer 2008 The Impact of Compulsory Licensing on Foreign Direct Investment: A Collective Bargaining Approach Robert Birdn and Daniel R. Cahoynn I. INTRODUCTION The need to facilitate access to essential medicines for those with lifethreatening or fatal diseases like HIV, tuberculosis, and malaria has generated significant interest. Yet, an inevitable tension exists between the need for pharmaceutical companies to profit from their patented inventions and the desire to provide access for impoverished persons. Developing nations have attempted to resolve this tension through the issuance of patent compulsory licensesFauthorizations for government-approved generic copies1Fso that those in need of the n Assistant Professor of Business Law, School of Business, University of Connecticut. This article received the Holmes-Cardozo Award for Outstanding Submitted Conference Paper as well as the Ralph J. Bunche Best Paper Award at the Academy of Legal Studies in Business Annual Meeting, Indianapolis, IN, August 2007. Our thanks for comments and support go to Jayashree Watal, Peter Yu, Douglas Lippoldt, and the other participants at the University of Connecticut’s Center for International Business Education and Research Conference, ‘‘The Impact of Intellectual Property Rights on Innovation, Knowledge Diffusion, and Foreign Direct Investment in the Global Economy,’’ Storrs, CT, May 2007. Additional thanks to Anthony Kwasnica and...
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