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  • Articles  (3)
  • Latest Papers from Table of Contents or Articles in Press  (3)
  • Clubs
  • 2015-2019  (3)
  • 1995-1999
  • Economics  (3)
  • Political Science  (1)
  • 1
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    The Use of Distributional Weights in Benefit-Cost Analysis: Insights from Welfare Economics1 (2016)
    Oxford University Press
    Details
    Publication Date: 2016-09-17
    Description: This article examines how distributional weights can be introduced into benefit–cost analysis (BCA) by using insights from recent developments in welfare economics, in particular the theory of fair social allocation and happiness studies. We argue that it is easier than commonly believed to design weights that embody the Paretian and equity properties of a well-crafted social welfare function. However, the informational requirements for such weights suggest that it may be helpful to examine the potential for simpler weights (e.g., based on simple objective indexes of well-being) to provide reasonable approximations of ideal weights for use in BCA.
    Keywords: D61 - Allocative Efficiency ; Cost-Benefit Analysis, D71 - Social Choice ; Clubs ; Committees ; Associations
    Print ISSN: 1750-6816
    Electronic ISSN: 1750-6824
    Topics: Energy, Environment Protection, Nuclear Power Engineering , Political Science , Economics
    Published by Oxford University Press
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  • 2
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    Governance and managerial effort in consumer-owned enterprises (2015)
    Oxford University Press
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    Publication Date: 2015-10-31
    Description: This article develops a political economy model of the board–manager relationship in consumer-owned enterprises (COEs), illustrating how the governance structure plays a key role in determining managerial power. The key conclusion of the article is that managerial remuneration and the resources devoted to governance are strategic choices for the COE and that their determination involves a trade-off. This trade-off depends on factors external to the COE, such as the COE's time horizon (as captured in the discount rate) and the manager's opportunity cost outside the COE (e.g. the remuneration paid in investor-owned firms). The trade-off also is influenced by the degree of complementarity between remuneration and governance resources, and by the sensitivity of managerial utility to financial remuneration and to governance.
    Keywords: D71 - Social Choice ; Clubs ; Committees ; Associations, P13 - Cooperative Enterprises
    Print ISSN: 0165-1587
    Electronic ISSN: 1464-3618
    Topics: Agriculture, Forestry, Horticulture, Fishery, Domestic Science, Nutrition , Economics
    Published by Oxford University Press
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  • 3
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    Producer heterogeneity and voting power in mandatory US agricultural marketing organisations (2015)
    Oxford University Press
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    Publication Date: 2015-10-31
    Description: We consider how cost heterogeneity and market power affect voting power in producer referenda for mandatory agricultural marketing organisations with generic promotion programmes in the United States. We measure voting power using the Banzhaf Power Index and propose a new version of this index based on the profit-maximising theory of the firm that provides an improved estimate of voting power. Examining several types of demand shifts and voting rules, we find that both Banzhaf Power and our new measure vary considerably depending on the market structure and level of cost heterogeneity.
    Keywords: D71 - Social Choice ; Clubs ; Committees ; Associations, D72 - Models of Political Processes: Rent-Seeking, Elections, Legislatures, and Voting Behavior, Q13 - Agricultural Markets and Marketing ; Cooperatives ; Agribusiness, Q18 - Agricultural Policy ; Food Policy
    Print ISSN: 0165-1587
    Electronic ISSN: 1464-3618
    Topics: Agriculture, Forestry, Horticulture, Fishery, Domestic Science, Nutrition , Economics
    Published by Oxford University Press
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