The Drama of Fishing Commons: Cournot-Nash Model and Cooperation

Cournot-Nash model; drama of the commons; cooperation; game theory; fishing effort.

Creativity and innovation: A contribution of behavioral economics

Innovation in products and services is seen by scholars, by specialized media in management, and by some managers as the main currency in modern economies. This is because it allows high average market profits, fame for innovators, or brand growth, for example. However, in practice, most managers still treat innovation as a secondary issue on their agendas. This problem results from the inability of market professionals to analyze people inside and outside their companies. It is not possible to develop innovative products in a systematic way without treating this point effectively. Moreover, in this process, creativity is a necessary, but not necessarily sufficient, condition to be fulfilled and requires behavioral transformation. In this context, it is believed that behavioral economics can make a sufficient contribution in the form of an analytical marketing tool by offering an analysis closer to human beings' reality, and, thus, allow a better understanding of people's behavior in the process of innovation in the market

Towards entrepreneurial universities : barriers, facilitators, and best practices in Bulgarian and Portuguese universities

Purpose: Тhe main objective of this research is to investigate barriers, facilitators and best practices in the transformation of Bulgarian and Portuguese universities into entrepreneurial universities. Design/Methodology/Approach: This study relies on a survey among experts in the field to identify barriers, facilitators and best practices in the transformation of Bulgarian and Portuguese universities into entrepreneurial universities. Findings: The research findings demonstrate that there are both internal and external barriers and facilitators of the entrepreneurial transformation of universities in Bulgaria and Portugal and reveals the relative importance of the various internal and external factors. The study describes several best practices in the transformation towards an entrepreneurial university adopted at Sofia University “St. Kliment Ohridski” and ISCTE-IUL. Practical Implications: This research raises awareness of the internal challenges to making Bulgarian and Portuguese universities more entrepreneurial as well as of factors that may facilitate the process of transformation and the need to strengthen entrepreneurship ecosystem at these universities. Policy makers should devote special attention to external barriers to the transformation and especially to the need for more appropriate legal framework and more state funding. Originality/Value: The study highlights that the relative importance of the various internal and external factors is context specific.peer-reviewe

The Tragedy of the Anti-Commons: A New Problem. An Application to the Fisheries.

The operation and management of common property resources (“the commons”) have been exhaustively examined in economics and political science, both in formal analysis and in practical applications. “Tragedy of the Commons” metaphor helps to explain why people overuse shared resources. On the other side, Anti-Commons Theory is a recent theory presented by scientists to explain several situations about new Property Rights concerns. An “anti-commons” problem arises when there are multiple rights to exclude. Little attention has been given to the setting where more than one person is assigned with exclusion rights, which may be exercised. We analyze the “anti-commons” problem in which resources are inefficiently underutilized rather than over-utilized as in the familiar commons setting. In fact, these two problems are symmetrical in several aspects.Anti-Commons Theory; Property Rights

La e-experiencia de marca a través de los medios sociales y su influencia en la e-calidad de la relación y la e-fidelización. Análisis empírico en los sitios web de viajes

The main objective of this article is to verify the relationship of the brand web experience through the organizational websites or the social travel media and to verify its influence on the quality of the electronic relationship and the electronic loyalty of the users. To confirm the hypotheses, quantitative techniques were used in a sample of 769 users. From the proposed model, we can conclude that the brand experience through social travel media is the most important direct predictor of the quality of the relationship and brand loyalty.El objetivo principal de este artículo es verificar la relación de la experiencia web de marca a través de los sitios web organizacionales o de los medios sociales de viajes y constatar su influencia en la calidad de la relación electrónica y en la fidelización electrónica de los usuarios. Para confirmar las hipótesis, se utilizan técnicas cuantitativas de una muestra de 769 usuarios. Del modelo propuesto, podemos concluir que la experiencia de marca a través de los medios sociales de viajes es el predictor directo más importante de la calidad de la relación y de la fidelización de marca

Tourism destinations and local rental : a discussion around bureaucracy and anticommons. Algarve case (Portugal)

Local rental in such an important tourism destination - as it is Algarve region (Portugal) - is a very important economic activity in this region, involving a very large number of owners, intermediaries (many are foreign agencies) and users. Traditionally, a large part of this activity is not caught by the fiscal system. In this work, anti-commons framework is used to analyse the situation of bureaucracy for the segment of local rental in Algarve region in Portugal. This work analyses a specific situation in which government creates new rules for bringing to legality a set of houses and apartments that have been traditionally out of the tax system, usually rent in a short duration system to tourists. Many people are questioning now if this new position of the Portuguese Government to create new legislation is an overreaction to an illegal situation, by creating again an excess of rules and administrative procedures, in a bureaucratic muddle. However, although the final result is not clear, it seems, in a previous version of the legislation to be approved in the Portuguese National Parliament, that the new law brings some procedural simplification and less bureaucracy in a set of procedural processes, allowing to overcome a problem for this area that normally is chronic in Portugal. Yet there are specific rules necessary to guarantee quality standards. Will be them the strictly necessary or continue them to be excessive and even some more procedural diligences are introduced?peer-reviewe

Tourism destinations : a methodological discussion on commons and anti-commons. The ‘Ammaia’ project’s locale impact

In this work, a methodological study is made to analyze the specificities resulting from analyzing tourism destinations through commons and anti-commons frameworks. Some studies have been made recently in the area of tourism considering these frameworks. Although interesting results have emerged, there is yet much work ahead. Some studies have considerable results, but the fundamentals in tourism literature require yet much work in order to develop additional models to provide new combinations of tools to the decision makers to enhance welfare standards for communities and high levels of sustainable development in tourism structures. A project is studied on this context which the consequent analysis of the regional implications.peer-reviewe

Pensions : global issues, perspectives and challenges - a book review

The objective of this work is the book “Pensions: Global Issues, Perspectives and Challenges”, 2017, 978-1-53612-467-5, from Nova Science Publishers Series Business Issues, Competition and Entrepreneurship. The editor is Alexandra Webb.peer-reviewe

Costs study through a diffusion process of pensions funds held with an outside financing effort

Pensions funds not auto financed and systematically maintained with an outside financing effort are considered in this work. Representing the unrestricted reserves value process of this kind of funds, a time homogeneous diffusion process with finite expected time till the ruin is proposed. It is also admitted a financial tool that regenerates the diffusion, at some level with positive value every time it hits a barrier at the origin. Then the financing effort may be modeled as a renewal-reward process if the regeneration level is kept constant. The perpetual maintenance cost expected values evaluation and of the finite time period maintenance cost are studied. An application of this approach, when the unrestricted reserves value process behaves as a generalized Brownian motion process, is presented

The ‘Drop of Honey Effect’. A Note on Chaos in Economics

Relationships in non-linear systems are unstable. Considering that, chaos theory aims to understand and to explain the unpredictable aspects of nature, social life, uncertainties, nonlinearities, disorders and confusion. Small differences in initial conditions - such as those due to rounding errors in numerical computation – may perform diverging outcomes tracking to systems’ chaotic behaviour. In these circumstances, long-term predictions become impossible in general. A brilliant metaphor on this is the so-called butterfly effect, about the way how the “flapping of the wings of a butterfly” may cause huge phenomena either they are physical, atmospheric or social. In this work, the drop of honey effect metaphor is proposed for representing this kind of butterfly effect for chaos in social phenomena, in particular in economics and politics