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The question of whether, and to what extent, Chicago price theory is Marshallian is a large one, with many aspects. The theory of individual behavior is one of these, and…
The question of whether, and to what extent, Chicago price theory is Marshallian is a large one, with many aspects. The theory of individual behavior is one of these, and the treatment of altruism, or, more generally, other-regarding behavior, falls within this domain. This chapter explores the analysis of other-regarding behavior in the work of Alfred Marshall and Gary Becker with a view to drawing out the similarities and differences in their respective approaches. What emerges is sense that we find in Becker’s work important commonalities with Marshall but also significant points of departure and that the line from Marshall to modern Chicago is neither as direct as it is sometimes portrayed, nor as faint as it is sometimes claimed by Chicago critics.
As from July 1st, the Wood Finishes Division of Becker Industrial Coatings, based at Cheslyn Hay, Walsall has been trading as Becker‐Acroma. Having spoken last month to…
As from July 1st, the Wood Finishes Division of Becker Industrial Coatings, based at Cheslyn Hay, Walsall has been trading as Becker‐Acroma. Having spoken last month to Eddy Moules, business manager of Becker‐Acroma and Mike Beaumont, national sales manager it became clear that this change of name is not just a cosmetic operation.
Becker Acroma Klinten, with Göran Wilkström as the chief executive officer, is now a predominant company in wood finishes within Europe with operations in North America and the Asia‐Pacific area. With its headquarters in Marsta, Sweden, Becker Acroma Klinten manufactures cost‐effective and high technology products to meet the requirements of environmental legislation and the latest technological developments in wood finishing.
In this paper on police officers who monitor coffee shops in Rotterdam, the Netherlands, I relate their work to Becker’s moral entrepreneur (1963). Becker describes two…
In this paper on police officers who monitor coffee shops in Rotterdam, the Netherlands, I relate their work to Becker’s moral entrepreneur (1963). Becker describes two categories of moral entrepreneurs: rule creators, such as the crusading reformer, and rule enforcers, for example the police. According to Becker, the rule enforcer is less naïve and more pragmatic than the rule creator. The main question of this paper is: in what respect can the work of the police officers be described as moral entrepreneurship? To answer this question I conducted in-depth interviews with six police officers on the meaning they attach to their duties of monitoring coffee shops. The research shows that police officers take a pragmatic approach, which also contains layers of morality that influence their rule enforcing. For instance, the way they define the character and intentions of the coffee shop managers is decisive in how they act towards them. Another difference is observed in relation to the two interests of the rule enforcer described by Becker. The police officers interviewed did not have to justify their existence and they did not have to gain respect by coercion. This is explained by (a) the routine character of the monitoring, which has created a predictable situation and a modus operandi known to all parties and (b) the criminalization of cannabis in recent years. The effect of this process is that the position of police officers in relation to cannabis sellers is not questioned.
Most intergenerational mobility studies use data on two generations to estimate the elasticity between son's and father's earnings. The purpose of this paper is to use a…
Most intergenerational mobility studies use data on two generations to estimate the elasticity between son's and father's earnings. The purpose of this paper is to use a data set spanning three generations to estimate additional relationships between a person's earnings and family background yielded by intergenerational mobility models such as Becker-Tomes (1979) model and modified versions of it.
The paper uses data from the 1996 PNAD – a nationally representative household survey in Brazil. The author builds a data set consisting of 5,125 grandfather-father-son triplets by taking advantage of two characteristics of Brazil. First, commonly in Brazil, individuals live with their parents until they marry. Second, individuals tended to quit school and begin working at an early age. As a result, there are many households with adult sons who are not at the very beginning of their working careers. Since the sample is limited to households with adult sons, the author applies Heckman (1979) estimation procedure to address selection bias.
Estimation results contradict some predictions of simple versions of the Becker and Tomes model. The paper proposes a modified version of the Becker and Tomes model that allows for a skipping generation effect, and finds that family background explains 34.9 percent of the variation in earnings among males aged 16-27 in Brazil. If there were no differences in endowments (talent, IQ, health, physical appearance, attitudes toward work, family connections, etc.), the variation in earnings would fall by no less than 26 percent. If it were possible to eliminate differences in investment in human capital, the variation in earnings would fall by at most 21.1 percent.
The paper has two main data limitations. First, the 1996 earnings of the fathers and sons are used as proxies for lifetime earnings although the transitory component of one-year earnings may be quite large, particularly at young ages. Second, in spite of the efforts to deal with the sample selection bias, the paper shows that the intergenerational elasticity in earnings for the sons aged 22-27 is about 14.6 percent lower for the subsample of households with adult sons than for the full sample.
The paper finds evidence supporting the existence of a direct effect of the grandparents on the grandchildren beyond their influence on the parents, and reinforces consideration of this factor in intergenerational mobility studies.
The findings in this paper may suggest a room for improvements in economic outcomes of children in less privileged families through investment in formal education as well as policies that considers other aspects of a person's life. For instance, Bolsa Família – a Brazilian government program that provide cash allowances to poor families conditional on children school attendance – may improve the economic outcomes of poor children by enforcing formal education and by lessening the children hardships at home.
The paper proposes a modified version of the Becker and Tomes model which allows for a skipping generation effect. Under the assumptions of the modified model and in hand with a three-generations data set from Brazil, the paper estimates a lowerbound for the variation in earnings explained by differences in endowments across families, and an upperbound for the variation in earnings explained by differences in human capital.
This paper explores a phenomenon known as entrapment. Entrapment refers to situations where people become “locked into” decisions through the passage of time as distinct…
This paper explores a phenomenon known as entrapment. Entrapment refers to situations where people become “locked into” decisions through the passage of time as distinct from actively re‐investing in failing projects. The present study examines Becker’s so called “side bets” theory which suggests that entrapment results from extraneous investments made during the course of employment. The exploration is conducted via two contrasting case studies of solicitors, one successful, the other unsuccessful. Analysis suggests some support for Becker’s theme. More importantly the study reveals that post hoc rationalization of events plays an important part in sustaining persistence. This insight raises a question. Do people become trapped by events as Becker suggests, or, do they largely imprison themselves?
This paper aims to establish a systemic yoyo model for economic entities so that the most recent developments in systems research can be applied to the study of economics…
This paper aims to establish a systemic yoyo model for economic entities so that the most recent developments in systems research can be applied to the study of economics and finance.
The concept and methods of whole systemic evolution are employed so that each economic entity, be it an individual, a family, a company, or any organization, can be analyzed with the help of systems research.
It is first shown that, in a market of free competition, a concept as fundamental as demand and supply is about mutual reactions and mutual restrictions of different forces under equal quantitative effects. Second, each economic entity is modelled and simulated as an economic yoyo or a flow of such yoyos. Owing to the wide applicable scope and practical significance of the Rotten Kid theorem and the excellent analysis of Bergstrom concerning the fact that this theorem is not generally true, after developing the yoyo model for various economic entities, in this paper the main result is established, a sufficient and necessary condition under which the Rotten Kid theorem holds true in general in light of whole systems evolution.
For the first time in history, the general structure of systems is employed to analyze topics in household economics and a long‐sought‐for sufficient and necessary condition is obtained successfully.
Decision-making in human resources management is done at both the micro and macro level of organizations. Unfortunately, the decisions at each level are often executed…
Decision-making in human resources management is done at both the micro and macro level of organizations. Unfortunately, the decisions at each level are often executed without consideration of the other, and current theory reflects this issue. In response to a call for integration of micro- and macro-level processes by Huselid and Becker (2011), we review the extant literature on strategic human resources and high-performance work systems to provide recommendations for both research and practice. We aimed to contribute to the literature by proposing the incorporation of the situation awareness literature into the high-performance work systems framework to encourage the alignment of human resources efforts. In addition, we provide practical recommendations for integrating situation awareness and strategic decision-making. We discuss a process for the employment of situation awareness in organizations that might not only streamline human resources management but also result in more effective decisions. Additional considerations include implications for teams, boundary conditions (e.g., individual differences), and measurement.
This chapter overviews organizational neuroscience (ON), covering the past, present, and future of this growing field of inquiry. First, we define ON and clarify the…
This chapter overviews organizational neuroscience (ON), covering the past, present, and future of this growing field of inquiry. First, we define ON and clarify the boundaries of the field. Second, we describe the evolution of ON by starting with early papers that tended to discuss the potential of ON to benefit both research and practice. Throughout its development, debates have abounded about the value of ON. Such debates are often related to challenges in collecting, integrating, interpreting, and using information from the brain-level of analysis. It is time for the field to move beyond these debates to focus on applying neuroscience to further theory development and reveal more comprehensive answers to research questions of importance to both academics and practitioners. Third, we propose and describe future research directions for ON. The research directions that we propose are merely a sample of the many paths along which ON inquiry can move forward. Fourth, we outline potential practical implications of ON, including: training and development, job design, high-performance assessment, motivating communications, and conflict prevention. Finally, we draw conclusions about ON as it stands today, address challenges in developing ON, and point out opportunities. We conclude with takeaways and highlight the importance of ON for both academics and practitioners.