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1 – 10 of 83
Book part
Publication date: 6 August 2014

John Bitzan, Alice Kones and James Peoples

This chapter uses airline data on fares, traffic, and flight characteristics to estimate a series of fare equations for international flights. The results are used to examine the…

Abstract

This chapter uses airline data on fares, traffic, and flight characteristics to estimate a series of fare equations for international flights. The results are used to examine the role of international competition as a determinant of fares along international flights originating or departing from the United States. Findings suggest that actual and potential competition are important determinants of international airfares. We interpret these results as indicating that pricing behavior along US–international routes is consistent with the theory of imperfect contestability.

Details

The Economics of International Airline Transport
Type: Book
ISBN: 978-1-78350-639-2

Keywords

Abstract

Details

The Economics of International Airline Transport
Type: Book
ISBN: 978-1-78350-639-2

Article
Publication date: 1 October 1994

Christos Pitelis

Aims to examine the issue of industrial strategy (IS), paying particularattention to the case of Britain. Sets out to assess the possibility andnature of an industrial strategy…

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Abstract

Aims to examine the issue of industrial strategy (IS), paying particular attention to the case of Britain. Sets out to assess the possibility and nature of an industrial strategy for Britain, in Europe, and within the global scene, taking into account the world we live in as we see it. Accordingly, the perspective is driven and shaped by a quest for a realistic, feasible and sustainable industrial strategy. In order to achieve these objectives, first examines the theoretical arguments behind much of British, and more generally, Western industrial policies. Following this, outlines and assesses British industrial policy post‐Second World War then compares and contrasts British industrial policy with that of Europe, the USA, Japan and the newly industrialized countries. Then examines recent developments in economics and management which may explain the “Far Eastern” miracle, and points to the possibility of a successful, narrowly self‐interested, IS for Europe and Britain, based on the lessons from (new) theory and international experience. To assess what is possible, develops a theoretical framework linking firms in their roles as consumers and/or electors. This hints at the possibilities and limits of feasible policies. All these ignore desirability which, in the author′s view, should be seen in terms of distributional considerations, themselves contributors to sustainability. Accordingly, discusses a desirable industrial strategy for Britain in Europe which accounts for distributional considerations, and goes on to examine its implications for the issue of North‐South convergence. Concludes by pointing to the limitations of the analysis and to directions for developments.

Details

Journal of Economic Studies, vol. 21 no. 5
Type: Research Article
ISSN: 0144-3585

Keywords

Book part
Publication date: 23 May 2017

Samantha Miles

Stakeholder theory has been accused of being an umbrella concept rather than a distinct theory per se. Recognizing the stakeholder concept as an essentially contested concept…

Abstract

Stakeholder theory has been accused of being an umbrella concept rather than a distinct theory per se. Recognizing the stakeholder concept as an essentially contested concept subject to multiple competing interpretations, this chapter presents a systematic meta-level conceptual analysis. This chapter aims to contribute to the optimal development of stakeholder theory by clarifying the conceptual confusion surrounding its central construct to help prevent stakeholder theory from developing into an accumulation of disparate ideas. Multi-contextual contributions to stakeholder theory are analysed via an unparalleled bounded systematic review of 593 stakeholder definitions. Determinants of the stakeholder concept have been deconstructed and analysed to establish how definitional variables relate to variants of stakeholder theory. These determinants have been sorted, filtered and ordered to produce a comprehensive, multi-dimensional classification of stakeholder theory based on four hyponyms which relate to 16 definitional categories. The classification was then subjected to empirical testing with positive results. This evaluation of the stakeholder concept illustrates how contributions are aligned and interrelated, thereby prescribing what is acceptable (unacceptable) as inclusion within stakeholder theory. An invaluable overview of what we know about stakeholder theory is presented within a single model, drawing the conclusion that stakeholder theory is indeed a single theory.

Article
Publication date: 27 March 2023

Laurence Ferry, Henry Midgley and Stuart Green

The study explains why Parliamentarians in the United Kingdom (UK) focused on accountability through data during the COVID-19 pandemic, as well as on how data could be used to…

Abstract

Purpose

The study explains why Parliamentarians in the United Kingdom (UK) focused on accountability through data during the COVID-19 pandemic, as well as on how data could be used to improve the government’s response to the pandemic.

Design/methodology/approach

Understanding the implications of accountability for COVID-19 is crucial to understanding how governments should respond to future pandemics. This article provides an account of what a select committee in the UK thought were the essential elements of these accountability relationships. To do so, the authors use a neo-Roman concept of liberty to show how Parliamentary oversight of the pandemic for accountability was crucial to maintaining the liberty of citizens during the crisis and to identify what lessons need to be learnt for future crises.

Findings

The study shows that Parliamentarians were concerned that the UK government was not meeting its obligations to report openly about the COVID-19 pandemic to them. It shows that the government did make progress in reporting during the pandemic but further advancements need to be made in future for restrictions to be compatible with the protection of liberty.

Research limitations/implications

The study extends the concept of neo-Roman liberty showing how it is relevant in an emergency situation and provides an account of why accountability is necessary for the preservation of liberty when the government uses emergency powers.

Practical implications

Governments and Parliaments need to think about how they preserve liberty during crises through enhanced accountability mechanisms and the publication of data.

Originality/value

The study extends previous work on liberty and calculation, providing a theorisation of the role of numbers in the protection of liberty.

Details

Accounting, Auditing & Accountability Journal, vol. 37 no. 1
Type: Research Article
ISSN: 0951-3574

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Article
Publication date: 20 February 2007

H. Semih Yildirim and George C. Philippatos

This study sets out to examine the evolution of competitive conditions in the banking industries of 14 Central and Eastern European (CEE) transition economies for the period…

3186

Abstract

Purpose

This study sets out to examine the evolution of competitive conditions in the banking industries of 14 Central and Eastern European (CEE) transition economies for the period 1993‐2000.

Design/methodology/approach

The basis for the evaluation of competitive conditions is the extant oligopoly theory in the new industrial organization literature, specifically, the competition model developed by Panzar and Rosse.

Findings

The results of the competition analysis suggest that the banking markets of CEE countries cannot be characterized by the bipolar cases of either perfect competition or monopoly over 1993‐2000 except for FYR of Macedonia and Slovakia. That is, banks earned their revenues as if operating under conditions of monopolistic competition in that period. An analysis of changes in competitive structure shows a higher degree of competition in the later years of the sample period. Large banks in transition countries are found to be operating in a relatively more competitive environment compared with small banks or, in other words, competition is lower in local markets compared with national and international markets.

Research limitations/implications

The period under investigation corresponds to early years of the ongoing transition from central planning when these countries were lacking many market‐supportive institutions essential for efficient financial markets. Therefore, the results of this study should be interpreted with the necessary scholarly scrutiny.

Practical implications

The paper measures the level of market contestability that may have been facilitated by the recent liberalization and deregulation progress.

Originality/value

The paper is highly original. Although research on the bank competition in the USA and other developed countries is voluminous, research that focuses on transition economies is relatively scant.

Details

Managerial Finance, vol. 33 no. 3
Type: Research Article
ISSN: 0307-4358

Keywords

Book part
Publication date: 11 December 2023

David J. Teece and Henry J. Kahwaty

The European Union’s Digital Markets Act (DMA) calls for far-reaching changes to the way economic activity will occur in EU digital markets. Before its remedies are imposed, it is…

Abstract

The European Union’s Digital Markets Act (DMA) calls for far-reaching changes to the way economic activity will occur in EU digital markets. Before its remedies are imposed, it is critical to assess their impacts on individual markets, the digital sector, and the overall European economy. The European Commission (EC) released an Impact Assessment in support of the DMA that purports to evaluate it using cost/benefit analysis.

An economic evaluation of the DMA should consider its full impacts on dynamic competition. The Impact Assessment neither assesses the DMA's impact on dynamic competition in the digital economy nor evaluates the impacts of specific DMA prohibitions and obligations. Instead, it considers benefits in general and largely ignores costs. We study its benefit assessments and find they are based on highly inappropriate methodologies and assumptions. A cost/benefit study using inappropriate methodologies and largely ignoring costs cannot provide a sound policy assessment.

Instead of promoting dynamic competition between platforms, the DMA will likely reinforce existing market structures, ossify market boundaries, and stunt European innovation. The DMA is likely to chill R&D by encouraging free riding on the investments of others, which discourages making those investments. Avoiding harm to innovation is critical because innovation delivers large, positive spillover benefits, driving increases in productivity, employment, wages, and prosperity.

The DMA prioritizes static over dynamic competition, with the potential to harm the European economy. Given this, the Impact Assessment does not demonstrate that the DMA will be beneficial overall, and its implementation must be carefully tailored to alleviate or lessen its potential to harm Europe’s economic performance.

Details

The Economics and Regulation of Digital Markets
Type: Book
ISBN: 978-1-83797-643-0

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Article
Publication date: 1 January 2002

B.N. Ghosh

The methodological boundary of the GPE is demarcated by truth and non‐violence. It needs to be emphasised that the GPE is dependent on a type of methodological individualism where…

Abstract

The methodological boundary of the GPE is demarcated by truth and non‐violence. It needs to be emphasised that the GPE is dependent on a type of methodological individualism where individuals matter most in the operation of the whole system. Individuals are the true entities and their holistic development is the basic purpose of the GPE, and this goes a long way to achieve the desideratum of a self‐reliant society. These are the basic instrument variables so to say. To ignore the development of individuals in the system of the GPE is like playing Hamlet without the prince of Denmark. For the proper working of the Gandhian system, many instruments, and institutional and organisational changes are indeed necessary and in some cases, what Schumpeter calls creative destruction, becomes inevitable. Gandhi's methodology was a combination of both realism and idealism. Very often he used the method of eclecticism through a fusion of empirical pragmatism with metaphysical idealism. This is evident in many of his writings including the theory of state, and political and social philosophy.

Details

Humanomics, vol. 18 no. 1
Type: Research Article
ISSN: 0828-8666

Article
Publication date: 1 January 1987

R. Rothschild

In 1933, Edward H. Chamberlin published the Theory of Monopolistic Competition (1962). The work, based upon a dissertation submitted for a PhD degree in Harvard University in 1927…

Abstract

In 1933, Edward H. Chamberlin published the Theory of Monopolistic Competition (1962). The work, based upon a dissertation submitted for a PhD degree in Harvard University in 1927 and awarded the David A. Wells prize for 1927–28, has since become a milestone in the development of economic thought. Its impact on industrial organisation theory, general equilibrium and welfare economics, international trade theory and, to a greater or lesser degree, all other branches of economic analysis, has been pervasive and enduring. The ideas set out in the book have been developed, expanded and refined in ways too numerous to be identified precisely, and the books and articles which take Chamberlin's contribution as a starting point arguably exceed in number those on any other single subject in the lexicon of economics.

Details

Journal of Economic Studies, vol. 14 no. 1
Type: Research Article
ISSN: 0144-3585

Article
Publication date: 31 August 2010

Emanuela Todeva

The paper seeks to explore Kant's formulations on universal good will, perfect moral order, and universal peace, and the notion that the world's citizenship should be organised in…

Abstract

Purpose

The paper seeks to explore Kant's formulations on universal good will, perfect moral order, and universal peace, and the notion that the world's citizenship should be organised in a federated system of states, free to choose their own universal laws.

Design/methodology/approach

This theoretical discussion is pursued in two separate sections. The first section reviews leading regulation theories that explain how governments in their decision‐making capacity engage in regulation at macro‐level of the entire socio‐economic system. The second section follows from this argument and discusses the governance theory and alternative governance mechanisms designed and employed by governments to manage the strategic behaviour of the individual economic actors at mezzo‐ and micro‐level of contract relationships.

Findings

The paper discusses some of the current theories that underpin the analysis and interpretation of public administration practice, or public governance in different socio‐economic systems. The paper looks at some of the dominant postulates of regulation and governance, and question to what extent they can be accepted as universal principles in line with Kant's argumentation. Different types of governance mechanisms are compared and contrasted in the context of strategic actors such as: the public government as a regulating authority and the firms as regulated economic actors.

Originality/value

The argument in this paper is that governments as regulators of national socio‐economic systems are strategic actors in their capacity to actively shape the regulatory environment, implementing various coordination mechanisms that facilitate the functioning of the economy and the society. The paper attempts to make some ethical judgements on market imperfections and government imperfections in line with Kant's concept of universal moral order.

Details

International Journal of Social Economics, vol. 37 no. 10
Type: Research Article
ISSN: 0306-8293

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1 – 10 of 83