renewable natural resource management and use without markets natural resources by their nature are not readily bent to the status of private property efficient resource use is complicated by jurisdictional externalities public goods non use values and beneficiaries spatially separated from the location of resources the task is made more challenging by ecological complexity that obscures cause benefits and effects costs and dramatic time lags between individual actions and subsequent social consequences that together with substantial uncertainty introduce the chance of irreversibilities resource economists have played a major role in the literature on externalities the development of individual transferable quotas non market valuation techniques and common property management

learning about a new technology pineapple in ghana this paper investigates the role of social learning in the diffusion of a new agri cultural technology in ghana we use unique data on farmers communication patterns to define each individual s information neighborhood conditional on many potentially confounding variables we find evidence that farmers adjust their inputs to align with those of their information neighbors who were surpris ingly successful in previous periods the relationship of these input adjustments to experience further indicates the presence of social learning in addition applying the same method to input choices for another crop of known technol ogy correctly indicates an absence of social learning effects jel d83 013 033 q16

common pool politics and inefficient fishery management fisheries management often fails because total allowable catches tacs are set at inefficiently high levels to study why decision makers choose such high tacs we model the annual negotiation on tacs as a dynamic game in discrete time tacs are fixed by majority decision in a council consisting of decision makers who are heterogeneous with respect to their discount rates we show that the optimal feedback strategy for the less patient decision makers will set inefficiently high tacs in markov perfect nash equilibrium a binding commitment to a long term management plan could help solving this problem and lead to a more sustainable fishery management

the liability of localness in innovation i analyze differences in the innovativeness of domestic firms and subsidiaries of foreign firms operating in the same country i argue that domestic firms suffer a liability of localness in innovation or a competitive disadvantage in product innovation relative to subsidiaries of foreign firms i propose that this liability of localness is driven by the relatively lower levels of multiculturalism in employees of domestic firms in comparison with subsidiaries which limit the identification transfer and integration of a large diversity of knowledge that supports product innovation i also propose that managers of domestic firms can compensate for this liability of localness in two ways by investing in the training of their employees and by exporting training modifies the mindsets and abilities of employees and enables them to become more cognitively multicultural which facilitates product innovation exporting changes employees mindsets as they become exposed to new ideas available abroad which also facilitates product innovation i test these arguments on a sample of manufacturing firms and find that although domestic firms introduce fewer new products than subsidiaries of foreign firms they introduce more new products than subsidiaries at the same level of investment in language training and of exports

fishermen markets and population diversity fishing impacts biodiversity on multiple levels potentially resulting in unintended feedbacks to the economic performance of the fishery over time for example targeting observable traits within a population can impact genetic diversity and targeting valuable species can impact biodiversity at the ecosystem level the bioeconomic literature however has given little attention to the effect of fishing on population diversity even though population diversity contributes to ecosystem services and estimates of population extinction rates are three orders of magnitude higher than species extinction rates here we develop a stochastic bioeconomic model that links the harvest of multiple salmon populations in a single commercial fishery to the trajectory of population diversity in a salmon stock complex we parameterize our model with biological and economic data from the copper river chinook salmon fishery we show that markets can incentivize the degradation of population diversity reducing infra marginal fishery rents and increasing variability in economic returns we also show that second best management can conserve population diversity and improve welfare furthermore depending on fishermen s time preferences this management strategy is potentially self financing

minimum information management in fisheries this paper deals with problems of optimal management of common property fisheries it advances the proposition that many fisheries management schemes which are theoretically capable of generating efficiency are actually not practicable owing to their huge informational requirements this applies for instance to management by means of corrective taxes subsidies the paper proceeds to show that there exists under fairly unrestrictive conditions market based management systems that require minimal information for their operation but lead nevertheless to efficiency in common property fisheries one such system is the individual transferable share quota system

a new product growth for model consumer durables this article originally appeared in management science january 1969 volume 15 number 5 pp 215 227 published by the institute of management sciences a growth model for the timing of initial purchase of new products is developed and tested empirically against data for eleven consumer durables the basic assumption of the model is that the timing of a consumer s initial purchase is related to the number of previous buyers a behavioral rationale for the model is offered in terms of innovative and imitative behavior the model yields good predictions of the sales peak and the timing of the peak when applied to historical data a long range forecast is developed for the sales of color television sets

fishermen s discount rates in itq systems in this paper the fishermen s planning and investment horizon is investigated using their discount rates it is shown that one might calculate the implicit discount rate in an itq regulated fishery from the available information from the quota market this gives information about how well the system is working in particular discount rates where itq systems are in operation initially were very high before they started to decrease this implies that it take some time to reap the full benefits of an itq system it also gives arguments for not letting itqs be perpetual property rights and hence enables more flexibility in the management system

tenure security private time preference and use of natural resources among lowland bolivian amerindians abstract to estimate the effect of tenure security and private time preference on the use of different types of natural resources such as old growth and fallow forests fish and game we did a survey and a psychological experiment with 443 households in 42 villages of yuracare mojeno tsimane and chiquitano indians in the bolivian lowlands results of multivariate tobit regressions suggest that 1 among the yuracare tsimane and mojeno rates of private time preference had a small economic and statistical effect on the use of natural resources and 2 tenure security proxied by residence duration in the village and by conflict with abutters only affected the consumption of wildlife principally of game results suggest that public policies to improve property rights over natural resources among indigenous people might have greater immediate impact on the conservation of wildlife than on the conservation of forest cover

relationships and traders in madagascar this article documents the role that personal relationships play in economic exchange original survey data show that agricultural traders in madagascar perceive relationships as the most important factor for success in their business evidence details the extent to which relationships are used to serve a variety of purposes such as the circulation of information about prices and market conditions the provision of trade credit the prevention and handling of contractual difficulties the regularity of trade flows and the mitigation of risk of these the regularity of supply and demand and the sharing of risk appear particularly important larger and more prosperous traders are those with quantitatively and qualitatively better relationships family plays little role in business beyond assistance at start up

configurations of strategy and structure in subsidiaries of multinational corporations a three fold typology of subsidiary roles world mandate specialized contributor local implementer was induced from the literature and its empirical validity was confirmed adopting a configurational approach we then explored the ways in which subsidiary structural context varies across subsidiary role types structural context characteristics were determined through a discussion of the underlying principles of the hierarchy and heterarchy models of multinational organization the key findings were a higher strategic autonomy in world mandates than in local implementers b a more internationally configured value chain in world mandates and specialized contributors than local implementers c lower levels of internal product flows in world mandates than the other two types and d a significantly lower performance in specialized contributors implications for a configurational model of subsidiary management and for heterarchy as a higher level conceptualization are discussed

natural resource economics under the rule of hotelling abstract natural resource stocks held in situ are physical assets equilibrium in the assets market requires that their rates of return be such that their owners are just willing to hold on to them rather than invest elsewhere i discuss a number of factors relating to the evolution of extraction costs to the durability of the resource to market structure and to uncertainty that are important in correctly characterizing the rate of return on holding exhaustible natural resource stocks the emphasis is put on how those factors can potentially help bridge the gap between the basic hotelling s rule of natural resource exploitation and the historical behaviour of the flow price of a number of resources i also highlight some theoretical and empirical issues that need further attention

a note on uncertainty and rent capture in an itq fishery abstract this note addresses the effect of uncertainty on the expected resource rent the short run quota equilibrium and the methods of rent capture in an individual transferable quota fishery with heterogeneous fishers it presents some new results on the effects of output price uncertainty on the quota demands the short run equilibrium and the possible choice of a method of rent capture

cooperative and non cooperative exploitation of the arcto norwegian cod stock a two agent model for the exploitation of the arcto norwegian cod stock is developed to investigate the economic benefits that can be realized from the resource and the effect of exploitation on stock sustainability under cooperation and non cooperation the two agents are identified in this study as a trawl fishery versus a coastal fishery unlike in munro 1979 where conflicts in the management strategies of agents arise from differences in the perceptions of the discount factor fishing effort costs and consumer preferences here conflicts arise mainly from the differences in fishing gear and grounds and the age group of cod targeted by the two agents using a game theoretic framework we show that given available data the optimum optimorum is obtained under cooperation with side payments and no predetermined harvest shares in which case the coastal fishery buys out the trawl fishery however sensitivity analysis shows that if the price premium assumed for mature cod is taken away the trawl fishery takes over as the producer of the optimum optimorum

the tragedy of the commons in international fisheries an empirical examination abstract historically all capture fisheries have proven hard to manage internationally shared stocks face an additional impediment to effective management previous fisheries studies estimate gains from cooperation for particular species or locations but evidence is lacking on the wider effect that international sharing has in relation to other variables that affect stock status this paper is an attempt to shed a broader light on the effect of sharing by identifying whether shared fish stocks are systematically more exploited i compile exploitation status biological and economic data into a unique two period panel of more than 200 fish stocks from around the globe with which i test the theoretical implications of sharing the empirical results from ordered category estimation suggest that shared stocks are indeed more prone to overexploitation

mapping india s regional subcultures implications for international management as india continues to emerge as a global economic player scholars and practitioners increasingly need to understand the cultural heterogeneity within this large and populous nation based on lenartowicz and roth s framework of culture assessment we have identified nine distinct subcultural regions of india and used explanations grounded in functional and neo institutional theories to account for the origin and maintenance of cultural distinctiveness of these regions further we developed seven cultural value dimensions for the indian society and used these to hypothesize and empirically test the existence of cultural differences within india results supported our hypothesized arguments this study advances our knowledge of how global functional and institutional forces have combined with national forces to shape india s overall culture and how more local forces have shaped its regions methodologically it identifies and develops measures that specifically reflect the values of individuals living in india and uses these to assess intra national cultural differences within this nation further it suggests how use of multiple methods can enable us to understand the simultaneous presence of somewhat contradictory values within a society the study also provides applications of the proposed cultural value dimensions and advises implications of regional subcultures for various social and organizational phenomena

insider ownership human resource strategies and performance in a transition economy researchers and potential investors in transition economies need to understand the human resource management hrm strategies of target firms since human resources are arguably their most valuable assets understanding is difficult however because hrm strategies help to determine firms performance but are in turn influenced by corporate governance particularly insider ownership this paper employs a structural equation modeling methodology to examine the relations between governance hrm strategies and performance in the context of a novel dataset of ukrainian industrial firms it is found that insider ownership is positively associated with high commitment hrm strategies and negatively with low commitment cost cutting hrm strategies cost cutting hrm strategies are in turn associated with weaker firm performance these outcomes correspond broadly with theoretical expectations

fishery management under multiple uncertainty abstract among others who point to environmental variability and managerial uncertainty as causes of fishery collapse roughgarden and smith proc natl acad sci 93 1996 5078 argue that three sources of uncertainty are important for fisheries management variability in fish dynamics inaccurate stock size estimates and inaccurate implementation of harvest quotas we develop a bioeconomic model with these three sources of uncertainty and solve for optimal escapement based on measurements of fish stock in a discrete time model among other results we find 1 when uncertainties are high we generally reject the constant escapement rule advocated in much of the existing literature 2 inaccurate stock estimation affects policy in a fundamentally different way than the other sources of uncertainty and 3 the optimal policy leads to significantly higher commercial profits and lower extinction risk than the optimal constant escapement policy by 42 and 56 respectively

the political economy of administered protection trade restrictions are hardly ever voted directly by congress though the threat of direct congressional action is frequently present pressure for protection is usually applied through the major instruments for the administrative regulation of imports the antidumping and countervailing duty procedures and the escape clause mechanism in this paper we will examine these instruments for the administrative regulation of imports the form of the paper is not novel a theory of how these mechanisms work is developed then operational implications of this theory are deduced and tested over the record of countervailing duty antidumping and escape clause cases decided from 1975 through 1979 this is the period over which the trade act of 1974 was in force because the nature of these mechanisms is relatively unfamiliar a relatively large amount of institutional information is provided

a great fish war model with asymmetric players this paper analyzes the coalitional great fish war model under the assumption that players differ in their time preferences and use different discount rates we derive the equilibrium payoffs of this coalitional game and investigate the impact of the asymmetry assumption on the extreme schemes of cooperative and non cooperative equilibria we then proceed to the computation of stable coalitions using time consistent harvest sharing policies for the partial coordination scheme in the case where players are divided into two groups high and low discount rates we find that asymmetry has a significant impact on the way the resource is shared and on the profitability of coalitions we also find that asymmetry is not a sufficient feature to overcome the puzzle of small coalitions

time discounting and the overexploitation of coral reefs the incentive to overexploit a fishery resource is thought to exist if the resource owner s discount rate is sufficiently higher than the biological productivity of the targeted fish stock coral reef fisheries are extensively overexploited worldwide but the discount rates of reef fishers are largely unknown and there is little information about how discount rates relate to the exploitation status of fisheries we address these two research gaps for 48 small scale reef fisheries around the world we use a life history based method to derive fishery level intrinsic growth rates and then apply fisheries economics theory to investigate the compatibility of 2 different discount rates official and private with the exploitation status of reef fisheries we find that official discount rates that are normally used for policy making appear to be too low to fully reflect the short term outlook of reef fishers instead our inferred annual average private discount rate of 107 for fishers may better reflect the general overexploited state of reef fisheries our results indicate that in order to improve the chances of success fisheries policies which affect local fishers may need to be evaluated using private discount rates rather than the currently used official discount rates

ownership risk investment and the use of natural resources the effect of insecure ownership on ordinary investment and natural resource use is examined insecure ownership is postulated to depend on the type of government regime in power and the prevalence of political violence or instability the political determinants of economy wide investment are estimated from cross country data and the results are used to form an index of ownership security when introduced into empirical models of natural resource use this index has a significant and quantitatively important effect on the use of forests and petroleum contrary to conventional wisdom ownership risk slows resource use in some circumstances

a model of regulated open access resource use abstract this paper develops a model of regulated open access resource exploitation the regulatory model assumes that regulators are goal oriented choosing target harvest levels according to a safe stock concept these harvest quotas are implemented by setting season lengths conditioned on the industry fishing capacity the industry enters until rents are dissipated conditioned on season length regulations harvest levels fishing capacity season length and biomass are determined jointly using parameter estimates from the long regulated north pacific halibut fishery predictions of these variables from the regulated open access model are compared to predictions that arise from the gordon model

management development and firm performance in germany norway spain and the uk while comparative studies of human resource management hrm are relatively plentiful few have examined the way organisations in different countries train and develop their managers or the impact of this upon firm performance given the centrality of management capability for corporate and national competitive performance this represents an important area of enquiry utilising telephone interview data from the human resource development manager and a line manager in 482 domestic and multinational organisations in four european countries patterns of management development md are found to differ according to country and to a lesser extent by international strategy however a significantly greater amount of organisational performance is explained by internal md strategies adopted by the organisations concerned and the credence accorded these by line managers

subsidies buybacks and sustainable fisheries abstract most fisheries subsidies which on a worldwide scale are immense are probably detrimental to resource conservation however payments used to buy out excess fishing capacity are often represented as useful subsidies on the grounds that overcapacity encourages overfishing and causes economic waste some commentators on the other hand assert that most buyback subsidies are ineffective because additional capacity tends to seep back into the fishery over time in this paper we take the latter argument further and demonstrate that buyback subsidies if they come to be anticipated by fishermen will generally have a negative effect on economic performance and resource conservation consequently buyback subsidies are perhaps over rated as a management tool

influences on human resource management practices in multinational corporations a study of human resource management practices in 249 u s affiliates of foreign based multinational corporations mncs shows that in general affiliate hrm practices closely follow local practices with differences among specific practices the degree of similarity of local practices is significantly influenced by the method of founding dependence on local inputs the presence of expatriates and the extent of communication with the parent in addition sharp differences are revealed among affiliates of canadian japanese and european mncs suggesting strong country effects together these findings support the view of mncs as composed of differentiated practices which in turn are shaped by forces for local isomorphism and for internal consistency

the effect of the discount rate on depletion of exhaustible resources this paper argues that despite its widespread acceptance in the literature the basic proposition that a reduction an increase in the discount rate leads to greater conservation faster depletion of an exhaustible resource is not generally valid it shows that the effect of the discount rate on the rate of resource depletion depends on capital requirements for production of the substitute and extraction of the resource and on the size of the resource stock in fact it shows that there always exist at least two ranges of the resource stock size for which the effect is opposite to that conventionally believed

african evidence on the relation of poverty time preference and the environment abstract it is typically argued in the economics literature that the poor operate with a higher rate of time preference than their wealthier counterparts the poor it is suggested have a higher rate of time preference because they are more concerned about present survival than they are about saving for the future such thinking is also central to the economic growth for environmental conservation and the poverty induced environmental degradation arguments according to these assertions wealth allows people to consider the future and invest in environmental conservation and poverty leaves people with no alternative but to exploit the environment so that they may feed their families today evidence from the food security and famine early warning fields suggests that households in many african contexts behave quite to the contrary during periods of food shortage poor households will often undertake extreme measures in the present including depriving the family of needed calories in order to preserve productive capital for the future such as a plough oxen or seed stock this evidence suggests that poor african households may in fact have very low rates of time preference this calls into question our general assumptions about discount rates for developing countries for which rates of time preference are a theoretical determinant

determinants of managerial performance a cross cultural comparison of the perceptions of middle level managers in four countries this paper examines differences in what affects managerial performance of middle level managers in four countries china n 204 india n 184 the philippines n 220 and the united states n 176 important differences were predicted and found in factors affecting managerial performance as perceived by the respondents while east west differences exist significant differences are noted among the three asian countries specifically chinese and american managers represented two extremes in their beliefs about what determines managerial performance of middle level managers both filipino and indian managers were found more similar to their u s counterparts than their chinese counterparts implications of the findings are discussed

resource rent in individual quota fisheries traditional fisheries management schemes generate incentives for vessels to maximize catch resulting in rent dissipation and overcapacity individual vessel quota management schemes change the incentives to maximize profit and have the potential to generate resource rent and reduce capacity an interesting question is whether it is the changed incentives due to individual quota or the capacity reduction due to transferability of individual quota that is most important in generating rent in this study a cost function approach is used to model and measure rent generated and potential rent in a fishery managed with individual vessel quotas

limits to the privatization of fishery resources a debate is emerging over the extent to which privatization of fishery resources is socially desirable the pessimists argue that there are strict limits to socially optimal privatization of such resources the optimists maintain that there are no effective limits to privatization and that the decades old fear that privatization could in some cases lead to resource extinction are of theoretical interest only we argue here that these fears are regrettably not baseless and that there are definite limits to socially desirable privatization we discuss means by which such limits could be identified on a fishery by fishery basis

when patience leads to destruction the curious case of individual time preferences and the adoption of destructive fishing gears abstract the use of destructive fishing methods is a serious problem especially for tropical and developing countries due to inter temporal nature of fisheries extraction activities standard economic theory suggests that an individual s time preference can play a major role in determining the gear choice decision based on earlier theoretical work we identify two ways in which individual time preferences can impact the adoption of destructive extraction methods i the conservation effect which posits that patient individuals as indicated by relatively high discount factor are less likely to use destructive extraction methods since they are more likely to account for the loss of future income that is accompanied by using these methods ii the disinvestment effect which argues that patient individuals are more likely to use destructive extraction methods since they have greater investment capability using an agent based model we clarify the conditions under which one of these effects is more dominant than the other one our model suggests that the nature of destructive gear along with the level of social dilemma determines whether patient or impatient individuals relatively lower discount factor are more likely to adopt such a gear additionally agent s beliefs regarding future resource condition and other agent s extraction level can have a major influence in some cases

not only the tragedy of the commons misperceptions of bioeconomics an exploratory search for explanations of mismanagement of renewable resources other than the theory of the commons was performed by an experiment eighty three subjects mostly recruited from the fisheries sector in norway were asked to manage the same simulated virgin fish stock one subject at a time exclusive property rights were granted to rule out the commons problem despite perfect property rights subjects consistently overinvested leading to an average overcapacity of 60 the resource was reduced by an average of 15 below its optimal level overcapacity and tough quotas resemble the situation in norwegian and other fisheries during the past few decades the likely explanation of the observed behaviour is misperception of feedback a phenomenon that occurs in many experimental studies of dynamically complex systems such misperceptions add a new and important dimension to the problem of renewable resource management beyond the commons problem

antidumping cases in the us chemical industry a panel data approach factors motivating the decision to file an antidumping petition are analyzed with data from 1976 88 for the u s chemical industry the incidence of antidumping filings is related to disaggregate levels of and changes in macroeconomic variables in a count model framework import penetration number of employees price cost margins the chemical production index and dumping margins all significantly influence the filing decision while average wages the capital to shipments ratio and the new capital expenditures to shipments ratio do not there is also evidence that antidumping filings increased significantly following implementation of the trade agreements act of 1979 copyright 1994 by blackwell publishing ltd

effects of u s trade remedy law enforcement under uncertainty the case of steel this paper investigates the impact of u s trade remedy law enforcement on import penetration of foreign manufactured steel into the u s steel market given the quasi judicial process for implementation of the two provisions relevant to u s steel imports section 701 countervailing duty and section 731 antidumping duty i derive the probability augmented model to be used as the theoretical basis for the research the results obtained in this paper indicate that the trade remedy policy was effective however the elasticity measured degree of effectiveness was small