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Article
Publication date: 10 January 2018

Jason Potts and Stuart Thomas

The purpose of this paper is to propose a new classification of rules-driven sports and technology-driven sports that suggests different models of how sports develop. This paper…

Abstract

Purpose

The purpose of this paper is to propose a new classification of rules-driven sports and technology-driven sports that suggests different models of how sports develop. This paper outlines some key aspects of an evolutionary view of sports economics research and, separately, an institutional view of sports economic research.

Design/methodology/approach

This paper is a conceptual/theoretical piece rather than an empirical analysis of a research question. The authors scaffold a proposed analytic framework that is a combination of evolutionary economics and new institutional economics.

Findings

A new dynamic approach to the study of sports industries is called for. The authors observe that sports and sports industries exhibit dynamic qualities but in the study of sports there is no analogue of “industrial dynamics” as in economics. What is missing is the field of “evolutionary sports dynamics.” To build this, the authors frame a new evolutionary approach to the study of the sports economy and sports industries – by examining the evolution of sports, their industries, and the complex industrial ecosystems they operate in, through the lens of institutional and evolutionary economics.

Originality/value

The paper establishes a theoretical basis for a “New Economics of Sports” – as a shift in the types of questions that sports economics seeks to answer. These are away from “sports statics” – as a branch of applied economics of industrial organization and optimal allocation of sports resources (ala Rottenberg, 1956; Neale, 1964) – and toward concern with the economics of “sports dynamics.” The prime questions are less with the optimal organization of existing sports, and more toward understanding the origin of new sports and the evolutionary life cycles of sports.

Details

Sport, Business and Management: An International Journal, vol. 8 no. 1
Type: Research Article
ISSN: 2042-678X

Keywords

Article
Publication date: 7 January 2014

Charles G. Leathers and J. Patrick Raines

Because belief in a supernatural agent with extraordinary power is rooted in psychology, Veblen's instinct psychology was the essential basis for his evolutionary economics of…

707

Abstract

Purpose

Because belief in a supernatural agent with extraordinary power is rooted in psychology, Veblen's instinct psychology was the essential basis for his evolutionary economics of religion. The innate behavioral traits that Veblen called instincts in human nature are now recognized in evolutionary psychology as domain-specific mechanism that evolved as adaptations to enable human survival and reproduction. The authors aim to explain how the modern evolutionary psychology of religion provides a modern psychological basis for Veblen's evolutionary economics of religion.

Design/methodology/approach

First, the authors review how Veblen's theory of an evolved human nature of instincts was applied to explain the origins of religion in primitive societies and remained a resilient force despite evolutionary erosion of institutional religion as science advanced. Second, the authors note how evolutionary psychology explains the origins of religion in terms of the functioning of domain-specific psychological mechanisms that evolved as adaptations for purposes other than religion.

Findings

The similarities between Veblen's instinct psychology and the explanation of religion as by-products of domain-specific psychological mechanisms are sufficient to allow the conclusion that the evolutionary psychology of religion provides a modern psychological basis for Veblen's evolutionary economics of religion.

Originality/value

An evolutionary economics of religion has a great social value if it provides credible explanations of both the origins of religious belief and innate tendency for religious belief to continue even as science refutes elements of religious doctrines. With a modern psychological basis, Veblen's evolutionary economics of religion accomplishes that purpose.

Details

International Journal of Social Economics, vol. 41 no. 2
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 1 March 1992

John Conway O'Brien

A collection of essays by a social economist seeking to balanceeconomics as a science of means with the values deemed necessary toman′s finding the good life and society enduring…

1134

Abstract

A collection of essays by a social economist seeking to balance economics as a science of means with the values deemed necessary to man′s finding the good life and society enduring as a civilized instrumentality. Looks for authority to great men of the past and to today′s moral philosopher: man is an ethical animal. The 13 essays are: 1. Evolutionary Economics: The End of It All? which challenges the view that Darwinism destroyed belief in a universe of purpose and design; 2. Schmoller′s Political Economy: Its Psychic, Moral and Legal Foundations, which centres on the belief that time‐honoured ethical values prevail in an economy formed by ties of common sentiment, ideas, customs and laws; 3. Adam Smith by Gustav von Schmoller – Schmoller rejects Smith′s natural law and sees him as simply spreading the message of Calvinism; 4. Pierre‐Joseph Proudhon, Socialist – Karl Marx, Communist: A Comparison; 5. Marxism and the Instauration of Man, which raises the question for Marx: is the flowering of the new man in Communist society the ultimate end to the dialectical movement of history?; 6. Ethical Progress and Economic Growth in Western Civilization; 7. Ethical Principles in American Society: An Appraisal; 8. The Ugent Need for a Consensus on Moral Values, which focuses on the real dangers inherent in there being no consensus on moral values; 9. Human Resources and the Good Society – man is not to be treated as an economic resource; man′s moral and material wellbeing is the goal; 10. The Social Economist on the Modern Dilemma: Ethical Dwarfs and Nuclear Giants, which argues that it is imperative to distinguish good from evil and to act accordingly: existentialism, situation ethics and evolutionary ethics savour of nihilism; 11. Ethical Principles: The Economist′s Quandary, which is the difficulty of balancing the claims of disinterested science and of the urge to better the human condition; 12. The Role of Government in the Advancement of Cultural Values, which discusses censorship and the funding of art against the background of the US Helms Amendment; 13. Man at the Crossroads draws earlier themes together; the author makes the case for rejecting determinism and the “operant conditioning” of the Skinner school in favour of the moral progress of autonomous man through adherence to traditional ethical values.

Details

International Journal of Social Economics, vol. 19 no. 3/4/5
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 1 December 1995

Pradeep Philip

In the light of a resurgence of “evolutionary”research, sets out to raise some of the philosophical issues associatedwith an evolutionary conception of economics. Considers Tony…

6830

Abstract

In the light of a resurgence of “evolutionary” research, sets out to raise some of the philosophical issues associated with an evolutionary conception of economics. Considers Tony Lawson′s work on transcendental realism as a point of departure in the building of an argument which promotes the adoption of a pluralist and holistic conception of economics. Suggests that, while Lawson′s transcendental realism has largely been developed independently of evolutionary economics, with the modifications outlined it may provide a suitable starting point for the formulation of philosophical foundations of evolutionary economics. Augments Lawson′s argument by the suggested adoption of an organic framework and the notion of types as the means of providing a base for the pluralist outlook of evolutionary economics.

Details

International Journal of Social Economics, vol. 22 no. 12
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 1 February 1998

Geoffrey M. Hodgson

This essay explores evolutionary and competence‐based theories of the firm. Evolutionary theories can be regarded as a subset of a wider class of theories, variously described as…

3441

Abstract

This essay explores evolutionary and competence‐based theories of the firm. Evolutionary theories can be regarded as a subset of a wider class of theories, variously described as “capabilities”, “resource‐based”, or “competence‐based” theories of the firm. These contrast with a different set of contractarian theories, emanating largely from the work of Coase. It is argued that the contractarian theories of the firm misleadingly assume given individuals thus neglecting processes of individual learning and transformation. Similarly underestimated is importance of technology and the persistence of variety in firm structure and performance. The genesis of the alternative, competence‐based approach is outlined, including the important subset of “evolutionary” approaches of the Nelson‐Winter type. The paper concludes with a discussion of the relevance of the competence‐based approach to strategic management.

Details

Journal of Economic Studies, vol. 25 no. 1
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 24 August 2021

Yueling Xu, Haijun Bao, Wenyu Zhang and Shuai Zhang

Recently, the concept of financial technology (FinTech) has attracted extensive attention from international organisations and regulators, in particular, how to achieve a…

Abstract

Purpose

Recently, the concept of financial technology (FinTech) has attracted extensive attention from international organisations and regulators, in particular, how to achieve a “win–win” situation between financial institutions' FinTech innovation and effective regulation has become a hot topic. This study purposes to explore the evolutionary game relationship between FinTech innovation and regulation by constructing both static and dynamic earmarking game models.

Design/methodology/approach

A simulation experiment was conducted using primary data obtained from a commercial bank in China.

Findings

The results of the theoretical analysis of evolutionary game models were consistent with the corresponding simulation results, proving the validity of the proposed evolutionary game models. It was also found that the dynamic earmarking game model was more stable and effective than the static earmarking game model in promoting FinTech innovation and regulation. Furthermore, when the regulators utilised a dynamic earmarking mechanism, the evolutionary path of financial institutions and regulators' behaviour strategies took the shape of a spiral and eventually converged to a central point, indicating the existence of an evolutionary stable strategy and Nash equilibrium. Finally, because the behaviour strategies of financial institutions were mainly influenced by the regulators' policies, the regulators were inspired to adjust the corresponding regulation policies on FinTech innovation.

Originality/value

This study bridges the knowledge gap in the existing literature on financial innovation and regulation, in particular by establishing evolutionary game models from the perspective of financial earmarking policies. Also, the case study for simulation experiments can gain a more intuitive insight into FinTech innovation and financial earmarking policies.

Details

Industrial Management & Data Systems, vol. 121 no. 10
Type: Research Article
ISSN: 0263-5577

Keywords

Article
Publication date: 9 August 2011

Anne Laakkonen and Juha Kansikas

This qualitative study attempts to understand what kinds of evolutionary selection and variation occur in family businesses during the preparation of a managerial and ownership…

1444

Abstract

Purpose

This qualitative study attempts to understand what kinds of evolutionary selection and variation occur in family businesses during the preparation of a managerial and ownership succession.

Design/methodology/approach

The study was conducted by interviewing members of one family business in Louisiana, USA and one in Finland in order to contribute to the understanding of succession preparation in small family businesses with two generations. Evolutionary economics was adapted for this interdisciplinary study to explain evolutionary changes in a family business succession.

Findings

The findings indicate that both selection and variation can take place through different routes during the preparatory phase of a family business succession. Selection is influenced both by the founder and next generations. However, it does not occur in company A due to the reluctance of the younger generation. In company B selection is processed through joint thinking and visioning. This will lead to variation which is shaped by both generations.

Research limitations/implications

This study is based on qualitative interpretation. Limitations of the study are the small number of informants and the lack of generalization of the results.

Practical implications

This study shows that selection and variation are intertwined. If selection does not occur in a family business, it leads to no variation between the generations. However, exits are possible; death and birth of companies are part of the life cycle of family businesses.

Originality/value

Evolutionary thinking has not been studied recently among family firms except in the field of evolutionary psychology. Evolutionary thinking offers a variety of topics to study in the future.

Details

Management Research Review, vol. 34 no. 9
Type: Research Article
ISSN: 2040-8269

Keywords

Article
Publication date: 1 October 1992

Richard L. Brinkman

Essays a conceptural clarification and theory of the process of economicevolution. Using the Veblenian matrix, conceptualizes the economicprocess in the framework of culture and…

Abstract

Essays a conceptural clarification and theory of the process of economic evolution. Using the Veblenian matrix, conceptualizes the economic process in the framework of culture and its evolution. Economic evolution, as a gestalt, comprises the processes of both economic growth (quantitative statics) and development (qualitative dynamics). The dynamics of culture evolution is founded on the advance of technology which constitutes the “core of culture”. The essence of the process of culture evolution is contained in the dichotomy of useful knowledge. The advance of useful knowledge appears in its application as technology and in its store as culture. The process of economic evolution increases the capacity of culture and thereby enables humankind to take bigger and bigger bites of the infinity of knowledge. Culture evolution, fed by the dynamics of the economic process, offers the potential for an enhanced “consciousness of the cosmos” and as such a conception of human progress.

Details

International Journal of Social Economics, vol. 19 no. 10/11/12
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 1 September 2002

Andreas Pyka

Innovation networks have become a persistent organisational phenomenon in industrial innovation processes. However, in economics they were considered in the first place only as a…

4019

Abstract

Innovation networks have become a persistent organisational phenomenon in industrial innovation processes. However, in economics they were considered in the first place only as a temporary hybrid phenomenon between markets and a hierarchical organisation within a single firm. The main focus of traditional neo‐classical analysis simply was on cost reduction of R&D within a network. Only with the coming up of evolutionary economics with its prevailing knowledge orientation, learning and synergistic partnering also move to the centre of interest. Without a consideration of the roles strong uncertainty, heterogeneity as well as the historical character of time play in innovation, networks cannot be explained as a self‐organisational persistent phenomenon. The present paper brings together different strands of the new theory of innovation and develops an evolutionary theory of innovation networks.

Details

European Journal of Innovation Management, vol. 5 no. 3
Type: Research Article
ISSN: 1460-1060

Keywords

Article
Publication date: 1 June 2002

Santos Alvarez Ma Valle

Traditionally, organizational evolution has been forgotten and only recently has it been analyzed by evolutionary theories: evolutionary economics and organizational ecology…

2297

Abstract

Traditionally, organizational evolution has been forgotten and only recently has it been analyzed by evolutionary theories: evolutionary economics and organizational ecology. According to the evolutionary economics the evolution of the firm is drawn as a process of individual adaptation running parallel to the evolution of environment. However, population ecology suggested that organizations have not the ability to adapt themselves and the process of organizational evolution is out of the organizational field. So, the adjustment to changed environmental conditions is achieved largely by the death of old organizations and the birth of new ones. We propose a model of organizational evolution combining the adaptation perspective ‐‐ evolutionary economics ‐‐ and the selection one ‐‐ population ecology of organizations. The adaptative ability lies in the endowment resource and capabilities that managers build using organizational capabilities.

Details

Leadership & Organization Development Journal, vol. 23 no. 4
Type: Research Article
ISSN: 0143-7739

Keywords

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