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In this article, we survey experiments that are directly related to monetary policy and central banking. We argue that experiments can also be used as a tool for central bankers for bench testing policy measures or rules. We distinguish experiments that analyze the reasons for non-neutrality of monetary policy, experiments in which subjects play the role of central bankers, experiments that analyze the role of central bank communication and its implications, experiments on the optimal implementation of monetary policy, and experiments relevant for monetary policy responses to financial crises. Finally, we mention open issues and raise new avenues for future research.

Expectations play a crucial role in finance, macroeconomics, monetary economics, and fiscal policy. In the last decade a rapidly increasing number of laboratory experiments have been performed to study individual expectation formation, the interactions of individual forecasting rules, and the aggregate macro behavior they co-create. The aim of this article is to provide a comprehensive literature survey on laboratory experiments on expectations in macroeconomics and finance. In particular, we discuss the extent to which expectations are rational or may be described by simple forecasting heuristics, at the individual as well as the aggregate level.

The contemporary life of an Australian academic has changed in almost every way imaginable in response to the challenges and opportunities emerging from global and national policy agendas. In this context, the subject coordinator11A subject coordinator may also be referred to as a Unit Chair, Unit Coordinator or Course Coordinator at different universities. represents the frontline of a move towards increasingly distributed forms of leading and learning. The knowledge that managing teaching responsibilities does not provide a clear route to promotion (with active research status providing a more well established path) means that academics may proactively minimise the time they spend on the discretionary tasks of leading and managing teaching well. Tasks that include adopting a proactive longer term of curriculum development, team building and teaching innovation, in addition to the more immediate needs for compliance and measurable outcomes. Research from an Australian Learning and Teaching Council (ALTC) project provides evidence that despite lack of formal recognition for many of the discretionary responsibilities of subject coordination, coordinators believe they are executing their job well. This chapter discusses factors that impede discretionary academic leadership behaviours in Australian higher education and suggests strategies to empower leadership and thus improve engagement with discretionary teaching and learning responsibilities.

We compare allocation rules in uniform price divisible-good auctions. Theoretically, a “standard allocation rule (STANDARD)” and a “uniform allocation rule (UNIFORM)” admit different types of low-price equilibria, which are eliminated by a “hybrid allocation rule (HYBRID).” We use a controlled laboratory experiment to compare the empirical performances of these allocation rules.

We conduct three-bidder uniform price divisible-good auctions varying the different allocation rules (standard, uniform, or hybrid) and whether or not explicit communication between bidders is allowed. For the case where explicit communication is allowed we also study six-bidder auctions.

We find that prices are similar across allocation rules. Under all three allocation rules, prices are competitive when bidders cannot explicitly communicate. With explicit communication, prices are collusive, and we observe collusive prices even when collusive agreements are broken. Collusive agreements are particularly fragile when the gain from a unilateral deviation is larger, and an implication of this is that collusive agreements are more robust under STANDARD.

We do not find conclusive evidence of differences in performance among allocation rules. However, there is suggestive evidence that STANDARD may be more vulnerable to collusion.

Divisible-good uniform price auctions are used in financial markets, but it is not possible to use naturally occurring data to test how alternatives to the standard format would perform. Using laboratory methods we provide an initial test of alternative allocation rules.

The assumption of wealth creation as the dominant motive underlying entrepreneurial efforts has been challenged in recent work on entrepreneurship. Taking the perspective that entrepreneurship involves emancipatory efforts by social actors to escape ideological and material constraints in their environments (Rindova, Barry, & Ketchen, 2009), researchers have sought to explain a range of entrepreneurial activities in contexts that have traditionally been excluded from entrepreneurship research. We seek to extend this research by proposing that entrepreneurial acts toward emancipation can be guided by different notions of the common good underlying varying conceptions of worth, beyond those emphasized in the view of entrepreneurial activity as driven by economic wealth creation. These alternative conceptions of worth are associated with specific subjectivities of entrepreneurial self and relevant others, and distinct legitimate bases for actions and coordination, enabling emancipation by operating from alternative value system perspectives. Drawing on Boltanski and Thévenot’s (2006) work on multiple orders of worth (OOWs), we describe how emancipatory entrepreneurship is framed within – and limited by – the dominant view, which is rooted in a market OOW. As alternatives to this view, we theorize how the civic and inspired OOWs point to alternate emancipatory ends and means through which entrepreneurs break free from material and ideological constraints. We describe factors that enable and constrain emancipatory entrepreneurship efforts within each of these OOWs, and discuss the implications of our theoretical ideas for how entrepreneurs can choose among different OOWs as perspectives and for the competencies required for engaging with pluralistic value perspectives.

To identify points of similarity and differences of emphasis between internalisation theory and global value chain (GVC) theory and to highlight how the latter’s particular approach is useful in analysing the impact of private sustainability standards.

Review of some key texts and reviews of internalisation theory combined with author’s reflections on GVC theory based on his contributions to its development.

GVC theory shares much common ground with the internalisation theory of international business, but their different starting points lead to different strengths and weaknesses. Internalisation theory is strong on the logic of decisions by transnational companies to internalise or externalise their activities. GVC theory is strongest in its consideration of how and why companies manage externalised activities in different ways, and its theory of network governance focuses on how governance challenges change in response to market requirements, shifts in the break point between enterprises, the role of codification in simplifying governance and the control of activities across multiple links in value chains. These factors explain how private and public–private standards in the field of sustainability are both a response to new external demands on value chains and, simultaneously, a means of reducing the complexity of governance challenges that such demands create.

Few attempts have been made to compare the two theories, and value chain theorists have not engaged with the international business literature. The chapter highlights the scope for a continuing and more systematic comparison of the two literatures.

Chapter 3 discusses existing management models and corporate governance best practices for waste management firms. It provides some relevant experiences across Europe. It offers a focus on the ongoing remunicipalization process in the public service provision and urban waste management.

This chapter is concerned with examining Pokémon Go in light of the digital economy and surveillance capitalism. The chapter begins by developing the theoretical framework underpinning this undertaking, which includes Bauman and Lyon (2013) ‘liquid surveillance’ and Zuboff's (2019) ‘surveillance capitalism’. Following this, we outline the various implications involved in the playing of Pokémon Go, when the production of locative data is not framed as leisure but labour. While Pokémon Go might be suited to the machinations of surveillance capitalism, as we establish, little research has examined this topic from the position of familial locative play or joint-media engagement. As a corollary to this, then, one of the aims of this chapter is to understand how issues of surveillance are perceived by the parents who play this hybrid reality game (HRG) with their children. Consequently, the chapter is driven by the following research questions. First, are families cognisant of the data they produce by playing this HRG, and how these data might be used? Second, do families think critically about the gamic mechanics of this HRG, such as the spawning locations of Pokémon and the reasoning behind these decisions? Third, are participants concerned about the potential application of their gamic data, and if so, how are these concerns reconciled? Fourth, do participants use the familial playing of Pokémon Go as an opportunity to discuss the production of data and its multifaced uses with their children?

The chapter analyses the ways actors in seaports are embedded in network configurations and develop Business to Business (B-2-B) relations. It also discusses the ways that the latter relations result in functional and relational values. The emphasis is on the presence of port value chains, wherein positioning and effective networking contribute to the total value proposition to the involved actors.

The chapter grounds on a literature review on B-2-B relations and the role of interdependencies developed between stakeholders within industrial markets. The empirical data discussed afterwards lead to the identification and analysis of the different types of interdependencies that might be found within port settings. In this context, the concept of port value chains is put forward. Interdependencies are attached to the various relationships developed between port stakeholders, in order to derive meaningful conclusions. The research is based and data provided through semi-structured interviews with major port stakeholders (e.g. port authorities, shipping lines, freight forwarders etc.) in a number of European seaports (Antwerp, Zeebrugge, Piraeus etc.).

The importance of co-creation of value via matching resources with upstream and downstream entities is established. The chapter also details how actors interdependence as a significant variable determining the level of co-creating value. The empirical analysis provides insights about the existence of three types of interdependencies in ports (namely, serial, pooled and reciprocal) that are found in a number of distinctive relationships developed between, terminal operators, freight forwarders, shipping lines and other key port actors.

In reference to future research, two fields are identified and are worth to be examined in terms of both academic and practical scope. These are the examination of relationship management and of the value generated in seaports respectively.

The present chapter is a first attempt to link port stakeholders’ interdependencies with relationships generated throughout the process, and generate knowledge on what influences the value offered in seaports. Moreover, the innovative concept of port value chains is established.