Monthly Archives: September 2015

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    If you have no intention of considering employee suggestions, then don’t ask

If you have no intention of considering employee suggestions, then don’t ask

If you are a manager, you were probably told at one point in your career to consult your subordinates before making important organisational decisions. Consulting makes employees feel respected, fairly treated and in control, which leads to more work motivation, a better job performance, and increased group morale. Because of the positive effects associated with consultation, organisations worldwide frequently […]

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    Nine likely scenarios arising from the growing use of robots

Nine likely scenarios arising from the growing use of robots

Too many executives have chosen to displace workers rather than think through how technology and humans can work together symbiotically, a set of choices Shoshana Zuboff describes as the automate or informate dilemma. In practice, automation can be deployed by either “automating”, “informating”, or both. In light of advances in automation, Tom Davenport and Julia Kirby have suggested a […]

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    How we define competition fuels gender inequality in business

How we define competition fuels gender inequality in business

Being an active competitor in business has a certain logic when competition is the lifeblood of a free market economy. Competition can be dynamic and multi-dimensional, and many see it as a fuel for productivity, innovation and, of course, profitability.  But unfortunately too often it is consigned to a simplistic stereotype of winning and losing. The concept is unexplored, while competitive behaviour […]

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    Misbehaving: The Making of Behavioural Economics — Book Review

Misbehaving: The Making of Behavioural Economics — Book Review

Misbehaving: The Making of Behavioural Economics. Richard H. Thaler. Penguin Random House, 2015.

I begin this review of Richard Thaler’s new book with a gripe, or rather a double gripe, about its title. Thaler, arguably the world’s leading behavioural economist and one of its early pioneers, perhaps feels as though his career has been a 40-year odyssey of misbehaving in […]

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    We get it all wrong when we use physical sciences tools to analyse big data

We get it all wrong when we use physical sciences tools to analyse big data

This is an edited excerpt from Mark Carrigan’s interview of Emma Uprichard published in the LSE Impact Blog. 

There is something non-trivial about the violence being committed under the guise of big data. This is happening at a methodological level and is not being discussed. Many people tend to focus on the ethical, privacy and security issues intrinsic to big data, or on big […]

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    A mathematician takes issue with supermarket price promotion gambits

A mathematician takes issue with supermarket price promotion gambits

In the spring of 2015, the consumer magazine Which? issued a report claiming that discounts by supermarkets are often misleading. As a mathematician and game theorist, I was asked to comment on this in the BBC radio show “PM” (for “afternoon”) hosted by Eddie Mair on 21 April. I find that the time to contribute in a live broadcast is […]

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    Using anthropology to inform a book’s transition to digital

Using anthropology to inform a book’s transition to digital

The British National Formulary (BNF), a reference book for all medicines used in the UK’s National Health System (NHS), was first published in 1949 as a collection of adaptable recipes for making up remedies. With the rise of the pharmaceutical industry, the availability of pre-packaged, manufactured medicines, and their accompanying regulation, the BNF is now a repository of drug […]

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    TPP may benefit both global businesses and the developing countries where they operate

TPP may benefit both global businesses and the developing countries where they operate

Posted September/2015
At times, negotiations have been close to failing in the Trans-Pacific Partnership (TPP), the free trade area (FTA) being negotiated by 12 countries in the Americas, Asia, and the Pacific. These difficulties can be explained by two main factors. First, countries involved (Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam) are […]

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    The energy sector is changing fast, but is it enough to keep global warming within 2ºC?

The energy sector is changing fast, but is it enough to keep global warming within 2ºC?

“This industry is going through a tremendous transformation. We used to have a pretty good idea of what future needs would be….That world has ended.” – Steve Holliday, CEO National Grid
The way we generate, transport, store and use energy is changing: the centralised system of large emissions-intensive, often state-owned power plants that send electricity to consumers using inflexible tariff […]

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    Ethics will be as central as economics to the future of the news industry

Ethics will be as central as economics to the future of the news industry

I do not know of any industry that has been through such an existential crisis as journalism has in the last decade or so. I spent over 20 years working in news and current affairs before joining the LSE nine years ago where my research has been largely about how the news media tries to discover a new business […]

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    Book Review: Eco-Cities and the Transition to Low Carbon Economies

Book Review: Eco-Cities and the Transition to Low Carbon Economies

Eco-Cities and the Transition to Low Carbon Economies. Federico Caprotti. Palgrave Pivot. 2014.

Eco-cities have emerged in the last decade as enticing models for comprehensive urban development that are ecologically friendly as well as prosperous and liveable. Through visionary design, construction, and operation, these projects aim to harmonise the ecological, economic, and social characteristics of cities to realise idealised urban […]

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    Immigration controls resemble apartheid in failing to treat workers as people

Immigration controls resemble apartheid in failing to treat workers as people

Is immigration control like Apartheid? The purpose of the policy devised by the South African government, and implemented for nearly half a century beginning in 1948, was to establish and maintain a separation between the black and white peoples of that country. Blacks were to be restricted to their designated homelands, and whites to theirs. Some movement would have […]

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    The right academic partner can help smaller enterprises bring innovation to market

The right academic partner can help smaller enterprises bring innovation to market

The UK is a world leader in research, home to a plethora of internationally acclaimed companies, and has contributed life-changing technologies and products to the global market. However, a historic lack of collaboration and understanding between centres of research excellence and business has seen the UK fail to bring to market some innovations with the potential for explosive growth.

We […]

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    Nudging the pub: a change in choice architecture can help pub-goers drink less

Nudging the pub: a change in choice architecture can help pub-goers drink less

The Government uses various policy tools to reduce alcohol consumption. There are restrictions on promotions, information campaigns, and pricing policies. These policies do not stand unchallenged. Restrictions on promotions irk business, information campaigns fail to reach the less educated, and pricing policies hurt responsible but poor consumers. So what about Thaler and Sunstein’s Nudge? Nudges keep choices open but […]

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    Having a strong calling can help you make challenging career decisions

Having a strong calling can help you make challenging career decisions

One approach to career pursuit encourages people to prioritize doing what they love and to pursue their passions, as exemplified by Steve Jobs’ statement that “the only way to do great work is to love what you do. If you haven’t found it yet, keep looking.” A second approach prioritizes achieving outcomes such as salary and job security, as […]

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    Businesses will increasingly use robots to deal with the explosion of data

Businesses will increasingly use robots to deal with the explosion of data

The term “Robotic Process Automation” (RPA) connotes visions of physical robots wandering around offices doing the job of humans. However, the term really means automation of service tasks. Let’s think of business processes such as transferring data from multiple input sources such as email and spreadsheets to systems of record like Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM). Here […]

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    In family-owned businesses, professional CEOs work longer hours than owner-CEOs

In family-owned businesses, professional CEOs work longer hours than owner-CEOs

The exceptional economic success of many European countries in the post-war period was characterised by the dominant presence of family firms across the continent. In countries like Germany and Italy, family ownership came to be seen as the best guarantee of economic and social development. But the consensus that family firms are good for growth has come under scrutiny […]

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    Book Review: Dealing With China: An Insider Unmasks the New Economic Superpower

Book Review: Dealing With China: An Insider Unmasks the New Economic Superpower

Dealing With China: An Insider Unmasks the New Economic Superpower by Henry M. Paulson, Jr. Grand Central Publishing. 2015.

As President George W. Bush’s Treasury secretary from July 2006 through January 2009, Henry Paulson was the president’s leading policy adviser on both domestic and international issues. During this time, he spearheaded U.S. – China relations and advocated for competitive and liberalized capital markets […]

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    Zero-hour contracts are here to stay, but their impact is limited

Zero-hour contracts are here to stay, but their impact is limited

For many, zero-hours contracts (ZHCs) are emblematic of the UK’s labour market experience during the financial crash, contributing to stronger-than-expected employment figures but also symbolising rising job insecurity. But with the economic recovery now gaining ground, the key question has been whether they’d fade away or remain as a permanent feature of the labour market. New ONS figures suggest that […]

September 12th, 2015|Economics, Laura Gardiner|0 Comments|
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    Intra-industry competition informs stock markets investment decisions

Intra-industry competition informs stock markets investment decisions

There is a large and growing body of research on peer effects in social sciences.  For instance, the economics literature on education has dealt extensively with peer effects in the classroom.  One of the hypotheses in this literature is that students who are exposed to unusually low achieving cohorts tend to score lower themselves.  While it is hard for […]