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Exchanging Obligations: Accounting for All Forms of Capital 债务交换:对所有形式资本的核算
IF 0.6 Q3 Economics, Econometrics and Finance Pub Date : 2022-03-25 DOI: 10.1177/02601079221081717
D. Blockley
Economics and engineering have much in common since both are concerned with making decisions to act, based on evidence from many sources including science. An analysis of financial trading from an engineering-systems perspective leads to a theory of obligations as a means of capturing natural, social and human capital. The treatment is based on an analogy between gravitational and electromagnetic fields of forces and fields of human interactions. An ‘obligation’ is defined as an underived unit of ‘stuff’ analogous to gravitational ‘mass’ or electromagnetic ‘charge’ in a field of interacting processes. Identifying the forces generated in the field of human obligations will help create new policy and practical interventions. These should be designed (as engineers’ design) systems to maximise net worth that includes a wide set of natural and social assets, such as biodiversity, air quality and reduced inequality. JEL: Q50, Q01, E00, E60, O11, O14, C60
经济学和工程学有很多共同点,因为两者都关心根据包括科学在内的许多来源的证据做出行动决定。从工程系统的角度对金融交易进行分析,得出了将义务作为获取自然、社会和人力资本的手段的理论。这种处理是基于引力场、电磁场和人类相互作用场之间的类比。“义务”被定义为在相互作用过程的领域中,类似于引力“质量”或电磁“电荷”的“物质”的固有单位。确定人类义务领域产生的力量将有助于制定新的政策和实际干预措施。这些系统的设计(作为工程师的设计)应最大限度地提高净值,其中包括一系列广泛的自然和社会资产,如生物多样性、空气质量和减少不平等。JEL:Q50,Q01,E00,E60,O11,O14,C60
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引用次数: 2
Causal Entropic Forces, Narratives and Self-organisation of Capital Markets 资本市场的因果熵、叙述与自组织
IF 0.6 Q3 Economics, Econometrics and Finance Pub Date : 2021-08-30 DOI: 10.1177/02601079211039321
Romain Bocher
The intersubjective markets hypothesis is revisited with respect to causal entropic principles. While the financial system is assumed to naturally evolve towards uncertainty, a spontaneous and unstable form of order emerges, thanks to narratives, leading to self-organised criticality. This article also includes a discussion about main hypotheses in finance, about the link between volatility spikes and entropy, and, finally, about the important role of narratives as forms of collective intelligence. JEL: D40, D50, D53, D70, D80
主体间市场假说在因果熵原理方面被重新审视。虽然人们认为金融体系会自然地朝着不确定性发展,但由于叙事,一种自发的、不稳定的秩序形式出现了,导致了自组织的临界性。本文还讨论了金融中的主要假设,波动性峰值与熵之间的联系,最后讨论了叙事作为集体智慧形式的重要作用。凝胶:d40, d50, d53, d70, d80
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引用次数: 2
How A Social Enterprise Wanes: The Transaction Costs of Credible Commitments at Etsy.com 社会企业如何衰落:Etsy.com可信承诺的交易成本
IF 0.6 Q3 Economics, Econometrics and Finance Pub Date : 2021-08-28 DOI: 10.1177/02601079211038239
Alejandro Agafonow, Marybel Perez
This article fathoms how a social enterprise wanes by applying the construct of imperative credible commitments from transaction cost economics to the case of Etsy.com, an online marketplace created to connect artisans and craftwork enthusiasts. In the absence of imperative credible commitments, Etsy’s social mission was bound to change, leaving the company’s major stakeholders without safeguards to protect the perpetuation of the transactions that Etsy was created to serve. The construct of credible commitments has proved to be fertile in understanding issues of political and economic transition, yet its relevance to puzzle out the corporate world has been underestimated. To bridge this gap, we have recourse to the analogy between disabling the discretion of monarchs and executives to prevent them from reneging on commitments. Hence, by building on political economy academics’ attention is drawn to strategies that, despite existing in the corporate world, have rarely been perceived as important by management and economics scholars.
这篇文章通过将交易成本经济学中的强制性可信承诺结构应用于Etsy.com的案例,来探究社会企业是如何衰落的。Etsy.com是一个为连接工匠和手工艺爱好者而创建的在线市场。在缺乏必要的可信承诺的情况下,Etsy的社会使命必然会改变,使公司的主要利益相关者没有保障措施来保护Etsy所服务的交易的永久性。事实证明,可信承诺的构建有助于理解政治和经济转型问题,但其对企业界的影响却被低估了。为了弥补这一差距,我们可以求助于禁用君主和高管的自由裁量权以防止他们违背承诺之间的类比。因此,通过建立在政治经济学的基础上,学者们的注意力被吸引到了战略上,尽管这些战略存在于企业界,但很少被管理学和经济学学者认为是重要的。
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引用次数: 1
A Concept of Two Authors: Commons and Williamson on Transactions 两位作者的概念:Commons和Williamson谈交易
IF 0.6 Q3 Economics, Econometrics and Finance Pub Date : 2021-08-27 DOI: 10.1177/02601079211037482
S. Guedes, R. Jerônimo
The idea of transactions in social sciences was conceived by John Rogers Commons in the beginning of the 1920s, representing a mental instrument capable of describing capitalism and its peculiarities. On the other hand, Oliver Williamson’s approach in late 1970s reduced the concept to the mere transfer of goods and services in institutions that are or are not guided by the price system. The aim of this article is to present the characteristics of these two different approaches to the concept of transactions, evidencing the role of epistemological aspects and investigative purposes (referred to relevant research context and problem originated in it) as the causes of its metamorphosis. John Commons’ effort to build up a concept not only capable of transcending the idea of exchange but also of giving a totalising perspective to the interpretation of capitalism is emptied in Williamson’s appropriation of the term. By utilising Commons’ conception of transactions and trying to subsume it to his ‘general theory of transaction costs’, Williamson limits its scope and meaning, adjusting it without producing rupture with the neoclassical economy. This article tries to catch the vicissitudes of this concept found in both authors. JEL: B15, B25, B31
社会科学中的交易概念是由约翰·罗杰斯·康姆斯在20世纪20年代初提出的,代表了一种能够描述资本主义及其特殊性的心理工具。另一方面,奥利弗·威廉姆森在20世纪70年代末的方法将这一概念简化为在受或不受价格体系指导的机构中进行商品和服务的转移。本文的目的是呈现这两种不同的交易概念方法的特征,证明认识论方面和调查目的(指相关的研究背景和由此产生的问题)是交易概念变形的原因。约翰·康姆斯(John Commons)试图建立一个概念,不仅能够超越交换的概念,而且能够为资本主义的解释提供一个全面的视角,但在威廉姆森(Williamson)对这个词的挪用中,这一努力被清空了。威廉姆森利用了Commons的交易概念,并试图将其纳入他的“交易成本一般理论”中,从而限制了其范围和意义,在不与新古典经济决裂的情况下对其进行了调整。这篇文章试图捕捉这一概念在两位作者身上的变化。JEL:B15、B25、B31
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引用次数: 2
A New Institutional Economic Perspective on Alternative Governance Mechanisms at the Local Government Level 地方政府替代治理机制的新制度经济学视角
IF 0.6 Q3 Economics, Econometrics and Finance Pub Date : 2021-08-23 DOI: 10.1177/02601079211036841
J. Wallis, S. Rizvi
The ‘new institutional economics’ (NIE) can go a long way towards comprehending the emerging complexities of local government. As local bodies seek to forge collaborative partnerships with other organisations, they have to decide whether to solve horizontal co-ordination problems through market, hierarchy or network mechanisms. NIE can show that where other governance mechanisms are incomplete or subject to high transaction costs, trust and co-operation can informally develop through the process by which network interactions become embedded within each other. We show how this approach can be revised to take into account the expressive dimension of behaviour in hope-based networks whose members are bound together not so much by structures of resource dependence as by the hope and trust they place in the advancement of common goals. JEL: L38
“新制度经济学”(NIE)可以在很大程度上理解地方政府正在出现的复杂性。当地方机构寻求与其他组织建立合作伙伴关系时,他们必须决定是通过市场、层级还是网络机制来解决横向协调问题。NIE可以表明,在其他治理机制不完整或交易成本高的情况下,信任和合作可以通过网络交互嵌入彼此的过程非正式地发展。我们展示了如何修改这种方法,以考虑到基于希望的网络中行为的表达维度,这些网络的成员与其说是通过资源依赖结构联系在一起,不如说是通过他们对推进共同目标的希望和信任联系在一起。JEL:L38
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引用次数: 0
Separation Theorems in Econometrics and Psychometrics: Rasch, Frisch, Two Fishers and Implications for Measurement 计量经济学和心理计量学中的分离定理:Rasch, Frisch, Two fisher和对测量的影响
IF 0.6 Q3 Economics, Econometrics and Finance Pub Date : 2021-08-23 DOI: 10.1177/02601079211033475
W. Fisher
In 1959, Ragnar Frisch prompted Georg Rasch to formalise a separability theorem that continues today to serve as the basis of a wide range of theoretical and applied developments in psychological and social measurement. Previously unnoted are the influences on Rasch exerted by Frisch’s concerns for data autonomy, model identification and necessary and sufficient conditions. Although Rasch acknowledged Frisch’s prompting towards a separability theorem, he did not acknowledge any substantive, intellectual debt to him, nor to Irving Fisher, but only to Ronald Fisher. Rasch appears to have developed a special interest in sufficiency and identified models when studying with Frisch in 1935, and in 1947, when Rasch accompanied Tjalling Koopmans to the University of Chicago and the Cowles Commission for Research in Economics. I. Fisher’s separation theorem continues to be relevant in econometrics, and interest in Rasch’s separability theorem is growing as the measurement models based on it are adopted in metrological theory and practice. The extensive interrelations between measurement science, metrological standards and economics suggest paths towards lower transaction costs and more efficient markets for individualised exchanges of human, social and natural capital. Equally, if not more, surprising are the implications for a poetic art of complex, harmonised relationships played out via creative improvisations expressed using instruments tuned to shared scales. JEL: B41, C10, C13, C20, C42, D70, E60, H54, I11, I21, I31, P11
1959年,Ragnar Frisch促使Georg Rasch形式化了可分性定理,该定理至今仍是心理和社会测量中广泛的理论和应用发展的基础。以前没有注意到的是,Frisch对数据自治、模型识别和充分必要条件的关注对Rasch的影响。虽然拉希承认弗里施对可分性定理的启发,但他不承认对弗里施,也不承认对欧文·费雪,而只承认对罗纳德·费雪有任何实质性的知识上的亏欠。在1935年和弗里施一起学习期间,拉希似乎对充分性和识别模型产生了特殊的兴趣,1947年,拉希陪同库曼斯(Tjalling Koopmans)前往芝加哥大学和考尔斯经济学研究委员会。1 .费雪分离定理在计量经济学中仍然具有重要意义,而随着以该定理为基础的计量模型在计量理论和实践中的应用,人们对拉什可分定理的兴趣也越来越大。测量科学、计量标准和经济学之间的广泛相互关系为降低交易成本和更有效的市场提供了途径,以实现人力、社会和自然资本的个性化交换。同样,如果不是更多的话,令人惊讶的是,通过使用调到共同音阶的乐器表达的创造性即兴演奏,复杂而和谐的关系表现出来的诗歌艺术的含义。规格:b41、c10、c13、c20、c42、d70、e60、h54、i11、i21、i31、p11
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引用次数: 1
Tribalism and Finance 部落主义和金融
IF 0.6 Q3 Economics, Econometrics and Finance Pub Date : 2021-08-05 DOI: 10.1177/02601079211033469
Oasis Kodila-Tedika, Simplice A. Asongu

We assess the correlations between tribalism and financial development in 60 countries using data averages from 2000 to 2010. The tribalism index is used to measure tribalism whereas financial development is measured from perspectives of financial intermediary and stock market developments. The long-term finance variable is stock market capitalisation while short-run variable is private and domestic credit. We find that tribalism is negatively correlated with financial development and the magnitude of negativity is higher for financial intermediary development relative to stock market development. The findings are particularly relevant to African and Middle Eastern countries where the scourge of tribalism is most pronounced.

JEL: E62, H11, H20, G20, O43

我们使用2000年至2010年的平均数据评估了60个国家的部落主义与金融发展之间的相关性。部落主义指数用于衡量部落主义,而金融发展是从金融中介和股票市场发展的角度来衡量的。长期金融变量是股票市值,短期变量是私人和国内信贷。研究发现,部落主义与金融发展呈负相关,金融中介发展的负相关程度高于股票市场发展。这些发现与非洲和中东国家特别相关,因为这些国家的部落主义祸害最为明显。Jel: e62, h11, h20, g20, o43
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引用次数: 0
The Intersubjective Markets Hypothesis 主体间市场假说
IF 0.6 Q3 Economics, Econometrics and Finance Pub Date : 2021-08-05 DOI: 10.1177/02601079211032109
Romain Bocher
This study aims to introduce a new theoretical framework for capital markets understanding, reconciling findings from various disciplines such as anthropology, psychology, biology, statistics and physics. Assuming intersubjectivity to be the main driver of interactions between participants, the concept of market narrative is defined as subculture (or ideology) that influences the way investors react to both external events and endogenous dynamics. The new hypothesis is consistent with properties such as self-organisation, speculation, dependency, unboundedness, nonlinearity, dialogic and criticality. JEL: D40, D50, D53, D70, D80
本研究旨在为理解资本市场引入一个新的理论框架,调和人类学、心理学、生物学、统计学和物理学等各个学科的研究结果。假设主体间性是参与者之间互动的主要驱动力,市场叙事的概念被定义为亚文化(或意识形态),它影响投资者对外部事件和内生动力的反应。新假说具有自组织性、推测性、依赖性、无界性、非线性、对话性和临界性等性质。JEL:D40、D50、D53、D70、D80
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引用次数: 2
Weight Status and Depression in Italy: Evidence from the Second Wave of the European Health Interview Survey 意大利的体重状况和抑郁症:来自第二波欧洲健康访谈调查的证据
IF 0.6 Q3 Economics, Econometrics and Finance Pub Date : 2021-08-03 DOI: 10.1177/02601079211032110
Adriana Barone, C. Barra
This study tests the association between weight status and depression in Italy using the Second Wave of the European Health Interview Survey (EHIS2) microdata, which also provide information on weight/height and eight depressive symptoms. Using a probit regression, the empirical results show a strong positive association between weight status, proxied by body mass index, and sleep troubles and eating disorders, with females suffering more than males. In addition, low interest is negatively associated with medium and high sources of income, while depressive mood and sense of failure are negatively associated with employment status. Individuals in midlife (45–54 years old) suffer from all depressive symptoms more than those in other age classes, with females suffering more than males, with the exception of low interest and depressive mood. Furthermore, individuals with a higher level of education have a lower likelihood of suffering from all depressive symptoms. These findings suggest that policies aimed at reducing obesity rates could also reduce new and emerging types of depressive symptoms correlated with overweight/obesity, such as sleep troubles and eating disturbances. JEL: J24, I12, I1, C25
本研究使用第二波欧洲健康访谈调查(EHIS2)微数据测试了意大利体重状况与抑郁之间的关系,该数据还提供了体重/身高和八种抑郁症状的信息。通过概率回归,实证结果显示,体重状况(以体重指数为代表)与睡眠问题和饮食失调之间存在强烈的正相关关系,女性比男性更容易出现睡眠问题和饮食失调。此外,低利息与中高收入来源呈负相关,而抑郁情绪和失败感与就业状况呈负相关。中年个体(45-54岁)比其他年龄段的人更容易出现所有抑郁症状,除了低兴趣和抑郁情绪,女性比男性更容易出现抑郁症状。此外,受教育程度较高的人患所有抑郁症状的可能性较低。这些发现表明,旨在降低肥胖率的政策也可以减少与超重/肥胖相关的新出现的抑郁症状,如睡眠问题和饮食障碍。耶利记:j24, i12, i1, c25
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引用次数: 1
How Do Human Resource Management Practices Affect Innovation of Small- and Medium-sized Enterprises in a Transition Economy? 人力资源管理实践如何影响转型经济中的中小企业创新?
IF 0.6 Q3 Economics, Econometrics and Finance Pub Date : 2021-08-03 DOI: 10.1177/02601079211032119
Vu Hoang Nam, H. Luu
Small- and medium-sized enterprises (SMEs) are one of the engines for inclusive economic growth. Yet little is known about the contribution of human resource management (HRM) practices to the success of SMEs. This study empirically examines how HRM practices determine different categories of innovation of SMEs in the context of a transition economy. Using a longitudinal dataset and applying the instrumental variable methodology to correct for endogeneity problems, our study uncovers that HRM practices positively affect the quality of employed human and physical capital assets of SMEs. More importantly, we find that that HRM practices significantly contribute to the launch of new products and improvement of existing products. In addition, we also find that the adoption of HRM practices facilitate labour productivity and value added. Taken together, these findings highlight that HRM practices are a strategic resource for innovation and development of SMEs in transition economies by rewarding them with higher-quality capital assets. JEL: L25, O15, O31
中小企业是包容性经济增长的引擎之一。然而,人们对人力资源管理实践对中小企业成功的贡献知之甚少。本研究实证检验了在转型经济背景下,人力资源管理实践如何决定中小企业的不同创新类别。使用纵向数据集,并应用工具变量方法来纠正内生性问题,我们的研究发现,人力资源管理实践对中小企业人力和实物资本资产的使用质量有积极影响。更重要的是,我们发现人力资源管理实践对新产品的推出和现有产品的改进做出了重大贡献。此外,我们还发现,人力资源管理实践的采用促进了劳动生产率和附加值。总之,这些发现突出表明,人力资源管理实践是转型经济体中小企业创新和发展的战略资源,通过奖励它们更高质量的资本资产。JEL:L25,O15,O31
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引用次数: 5
期刊
Journal of Interdisciplinary Economics
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