Abstract not found

This paper examines the effect of memory loss on the continuity of behavior. We consider a player (individual or #rm) who remembers previous actions but not underlying rationales. In a stable environment, relative to a fullrecall scenario, memory loss increases the probability of following old policies (inertia). In a volatile environment, memory loss can decrease this probability (impulsiveness) . The model provides a memory-loss explanation for some documented psychological biases, implies that inertia and organizational routines should be more important in stable environments than in volatile ones, and provides empirical implications relating memory and environmental variables to economic decisions

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Le CIRANO est une corporation privée à but non lucratif constituée en vertu de la Loi des compagnies du Québec. Le financement de son infrastructure et de ses activités de recherche provient des cotisations de ses organisations-membres, d’une subvention d’infrastructure du ministère de l’Industrie, du Commerce, de la Science et de la Technologie, de même que des subventions et mandats obtenus par ses équipes de recherche. La Série Scientifique est la réalisation d’une des missions que s’est données le CIRANO, soit de développer l’analyse scientifique des organisations et des comportements stratégiques. CIRANO is a private non-profit organization incorporated under the Québec Companies Act. Its infrastructure and research activities are funded through fees paid by member organizations, an infrastructure grant from the Ministère de l’Industrie, du Commerce, de la Science et de la Technologie, and grants and research mandates obtained by its research teams. The Scientific Series fulfils one of the missions of CIRANO: to develop the scientific analysis of organizations and strategic behaviour. Les organisations-partenaires / The Partner Organizations •Ministère de l’Industrie, du Commerce, de la Science et de la Technologie.

Le CIRANO est un organisme sans but lucratif constitué en vertu de la Loi des compagnies du Québec. Le financement de son infrastructure et de ses activités de recherche provient des cotisations de ses organisationsmembres, d�une subvention d�infrastructure du ministère de l�Industrie, du Commerce, de la Science et de la Technologie, de même que des subventions et mandats obtenus par ses équipes de recherche. CIRANO is a private non-profit organization incorporated under the Québec Companies Act. Its infrastructure and research activities are funded through fees paid by member organizations, an infrastructure grant from the Ministère de l�Industrie, du Commerce, de la Science et de la Technologie, and grants and research mandates obtained by its research teams.

partielle permise avec citation du document source, incluant la notice ©. Short sections may be quoted without explicit permission, if full credit, including © notice, is given to the source. CIRANO Le CIRANO est un organisme sans but lucratif constitué en vertu de la Loi des compagnies du Québec. Le financement de son infrastructure et de ses activités de recherche provient des cotisations de ses organisationsmembres, d’une subvention d’infrastructure du ministère de la Recherche, de la Science et de la Technologie, de même que des subventions et mandats obtenus par ses équipes de recherche. CIRANO is a private non-profit organization incorporated under the Québec Companies Act. Its infrastructure and research activities are funded through fees paid by member organizations, an infrastructure grant from the Ministère de la Recherche, de la Science et de la Technologie, and grants and research mandates obtained by its research teams.

Library of Congress Classification (LCC)

and the Strategy Field * With respect to its role in the strategy field, transaction cost economics (henceforth, ”TCE”) is in a strange position. After attracting a great deal of sympathetic attention and influence at the beginning of the nineteen-eighties following the fundamental

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We address the closely related phenomena of corporate venturing and spin-offs in the context of organizational economics, for example, agency perspectives and the evolutionary perspective on firms. These perspectives allow us to say something about both the amount and nature of variety creation inside firms. For example, there are strong arguments that firms will tend to produce too few and too “narrow” venture ideas. Moreover, organizational economics is helpful in deriving propositions about the occurrence of spin-offs, which we separate into “vicious ” and “virtuous ” ones. The former type refers to ventures that could have helped bringing corporate renewal, but where overruled venture managers left the firm in frustration. The latter type refers to ventures that are too far away from the firm’s core business(es) to assist in corporate renewal, but where their spin-off is tantamount to a learning experience to the firm. Acknowledgment The comments of Mikael Iversen are gratefully acknowledged. I.