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Government Technology Policy, Social Value, and National Competitiveness

by Frank Nagle

This study examines the impact of a French law requiring government agencies to favor open source software (OSS) over proprietary software in technology procurement processes. Results suggest a cost-effective policy lever that countries can use to both create global social value and increase their own national competitiveness.

The Ferrari Way

by Michael Blanding

Secretive sports car maker Ferrari opens up to Stefan Thomke about how it has bucked industry trends to achieve success. Open for comment; Comment(s) posted.

Voter ID Laws Don't Work (But They Don't Hurt Anything, Either)

by Sean Silverthorne

Voter ID laws are often proposed as an antidote to election fraud. There's just one problem, according to Vincent Pons. They don't work. Open for comment; Comment(s) posted.

The UK Needs a Bold Strategy Around Competition to Survive Brexit

by Michael Blanding

There is little doubt that the United Kingdom’s separation from Europe will reduce its competitiveness for the foreseeable future, argues Michael E. Porter. Here's what can be done about it. Open for comment; Comment(s) posted.

Platform Competition: Betfair and the U.K. Market for Sports Betting

by Ramon Casadesus-Masanell and Neil Campbell

Since the early 2000s, online betting exchanges have had a new relationship with customers relative to traditional bookmakers, providing a platform to match individuals willing to lay and back the same outcome. This study shows how exchanges’ platform design choices have major implications for their likelihood of success.

Towards a New Approach for Upgrading Europe’s Competitiveness

by Christian Ketels and Michael E. Porter

Is the EU’s model of European integration a driver or a barrier towards higher European prosperity? This paper analyzes why the integration model that was successful in the past has lost effectiveness, and sets out strategic principles to guide a new approach. Integration remains key for upgrading European competitiveness, but needs to move towards a new form.

Rankings Matter Even When They Shouldn't: Bandwagon Effects in Two-Round Elections

by Vincent Pons and Clémence Tricaud

Results of the French parliamentary and local elections since 1958 show that candidates ranked higher in the first round are more likely to stay in the race for the second round and win it. Arriving first instead of second and second instead of third increases winning by 5.8 and 9.9 percentage points, respectively.

UK Competitiveness after Brexit

by Michael E. Porter

This paper discusses the UK’s economic performance and policy approach in the run-up to the June 2016 Brexit referendum, analyzes the impact of European Union membership and loss of membership on UK competitiveness, and sets forth a new strategic agenda to enhance UK competitiveness in the post-Brexit era.

Should US Companies Still Care About the Paris Climate Change Agreement?

Re: Vincent Pons

American President Donald Trump pulled out of the 2015 Paris agreement on climate change one year ago. Vincent Pons discusses what it means for US business leaders in confronting environmental challenges. Open for comment; Comment(s) posted.

No More General Tso's? A Threat to 'Knowledge Recombination'

by Michael Blanding

Immigrants bring with them innovations from their homelands, knowledge that local inventors often build upon, says Prithwiraj Choudhury. Examples: turmeric medicine, double-entry bookkeeping, and American Chinese food. Open for comment; Comment(s) posted.

How Would You Price One of the World's Great Watches?

by Roberta Holland

For companies with lots of innovation stuffed in their products, getting the price right is a crucial decision. Stefan Thomke discusses how watchmaker A. Lange & Söhne puts a price on its 173-year-old craftsmanship. Open for comment; Comment(s) posted.

How Companies Managed Risk (and Even Benefitted) in World War Internment Camps

by Julia Hanna

Foreign businesses located in at-war countries are often victims of expropriation. Historian Valeria Giacomin explores how German businesses in the United Kingdom and India mitigated risk and even benefitted when their employees were placed in internment camps during the World Wars. Open for comment; Comment(s) posted.

How a Coal Polluter Became a Renewable Energy Leader

Re: Mark R. Kramer

Enel, Italy’s state-owned power company, was one of Europe’s largest coal users and polluters. Now it is recognized as a leader in renewable energy services. Mark Kramer discusses how CEO Francesco Starace drove the huge strategy shift. Open for comment; Comment(s) posted.

The Impact of CEOs in the Public Sector: Evidence from the English NHS

by Katharina Janke, Carol Propper, and Raffaella Sadun

To what extent do CEOs impact their organizations? This study finds little consistent evidence of any CEO effect on the large set of production metrics examined in hospitals averaging 4,500 employees in the English National Health Service. This result stands in stark contrast with earlier findings of a CEO effect in the private sector and smaller public sector organizations.

Stock Market Returns and Consumption

by Marco Di Maggio, Amir Kermani, and Kaveh Majlesi

Using a unique dataset for the entire Swedish population, this study of household consumption in response to changes in capital gains and dividends shows that the marginal propensity to consume (MPC) out of capital gains for households in the top 50 percent of financial wealth distribution is relatively uniform and around 5 percent but is more than 10 percent for the bottom 50 percent. These results explain why the recent stock market rally ignited a spending splurge that is cutting into how much households save for rainy days.

Can Financial Innovation Solve Household Reluctance to Take Risk?

by Laurent Calvet, Claire Celerier, Paolo Sodini, and Boris Vallée

Structured products are an innovative class of retail financial products with option-like features. This paper provides empirical evidence suggesting that innovative financial products like these can help alleviate loss aversion and thus the low participation of households in risky asset markets.

Credit Supply Shocks, Network Effects, and the Real Economy

by Laura Alfaro, Manuel García, and Enrique Moral-Benito

Using data for Spain between 2003 and 2013, this study examines firms’ responses to credit supply shocks during times of boom (expansion) and bust (financial crisis and recession). Results indicate that propagation of these shocks through the Spanish production network doubles the magnitude of the real effects typically estimated in the literature. This study also shows how such effects vary greatly during booms and busts.

How to Succeed in Business (According to a 15th Century Trade Merchant)

by Julia Hanna

Does a 15th century Italian merchant have something to teach leaders about the proper ways to conduct business? Sophus Reinert and Dante Roscini discuss the first English translation of The Book of the Art of Trade. Open for comment; Comment(s) posted.

Faber-Castell Doubles Down on the Pencil

Re: Ryan L. Raffaelli

Some products are just harder to innovate than others. The pencil, for instance. Yet, Faber-Castell has been turning them out for more than 200 years, adding improvements such as color and cosmetic products to the mix. In this podcast, Ryan Raffaelli discusses how older products can become young again. Open for comment; Comment(s) posted.

Does Le Pliage Help or Hurt the Longchamp Luxury Brand?

Re: Jill J. Avery

Longchamp's iconic but affordable Le Pliage bag is a conundrum for the company, explains Jill Avery in this podcast. Does an affordable luxury product work against the top-tier brand? Open for comment; Comment(s) posted.