{"title":"Artificial Intelligence and Big Data in Sustainable Entrepreneurship","authors":"Steve J. Bickley, Alison Macintyre, Benno Torgler","doi":"10.1111/joes.12611","DOIUrl":"10.1111/joes.12611","url":null,"abstract":"<p>There is an urgent need to transition our economy, society, and culture towards systems and actions that facilitate ecological sustainability. Such radical change requires equally radical transformation of approaches to decision making and resource use. Sustainable entrepreneurship (SE) is often presented as the answer to meeting the triple-bottom-line challenges that businesses face; however, there are very real limits to what it can achieve. SE is in the early stages of adopting tools at the technological frontier that offer empirical guidance at every point of an entrepreneurial decision-making process. Big Data (BD) advances the potential for artificial intelligence (AI) to inform decision making, while also charting pathways to achieve desired outcomes. So far, the interactions between AI, BD, and SE have been generally under-studied. In this primarily conceptual paper, we address the lack of work consolidating and synthesizing these literatures. We suggest that AI and BD readily contribute to further sustainable development of the weak form, but that it also holds great promise for achieving the strong sustainability ideal. We offer two propositions regarding how the integration of AI and BD can inform/support SE. We conclude by mapping out potential avenues for future research.</p>","PeriodicalId":51374,"journal":{"name":"Journal of Economic Surveys","volume":"39 1","pages":"103-145"},"PeriodicalIF":5.9,"publicationDate":"2024-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/joes.12611","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139461873","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Simona Malovaná, Martin Hodula, Zuzana Gric, Josef Bajzík
{"title":"Borrower-based macroprudential measures and credit growth: How biased is the existing literature?","authors":"Simona Malovaná, Martin Hodula, Zuzana Gric, Josef Bajzík","doi":"10.1111/joes.12608","DOIUrl":"10.1111/joes.12608","url":null,"abstract":"<p>This paper analyzes over 700 estimates from 34 studies on the impact of borrower-based measures (such as loan-to-value, debt-to-income, and debt-service-to-income ratios) on bank loan provision. Our dataset reveals notable fragmentation in the literature concerning variable transformations, methods, and estimated coefficients. We run a meta-analysis on a subsample of 422 semi-elasticities from 23 studies employing a consistent estimation framework to draw an economic interpretation. We confirm strong publication bias, particularly against positive and statistically insignificant estimates. After correcting for this bias, the effect indicates a credit growth reduction of −0.6 to −1.1 percentage points following the occurrence of borrower-based measures, significantly lower than the unadjusted simple mean effect of the collected estimates. Additionally, our study examines the contexts of these estimates, finding that beyond publication bias, model specification and estimation method are vital in explaining the variation in reported coefficients.</p>","PeriodicalId":51374,"journal":{"name":"Journal of Economic Surveys","volume":"39 1","pages":"66-102"},"PeriodicalIF":5.9,"publicationDate":"2024-01-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139408280","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Expectations, beliefs, and perceptions in the modern economy: An overview","authors":"Edda Claus, F. Antoine Dedewanou","doi":"10.1111/joes.12610","DOIUrl":"10.1111/joes.12610","url":null,"abstract":"<p>Expectations matter in dynamic models where decisions in one period have implications for outcomes in subsequent periods. Rational expectations were once the dominant assumption but its popularity is waning. Human decision-making deviates from rationality suggesting important influences of perceptions and beliefs on decision-making. The articles in this special issue provide up-to-date reviews of the importance of expectations, beliefs, and perceptions including the role of social media in shaping them.</p>","PeriodicalId":51374,"journal":{"name":"Journal of Economic Surveys","volume":"38 2","pages":"297-302"},"PeriodicalIF":5.3,"publicationDate":"2024-01-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/joes.12610","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139415274","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"From the Great Divergence to South–South Divergence: New comparative horizons in global economic history","authors":"Ewout Frankema","doi":"10.1111/joes.12609","DOIUrl":"10.1111/joes.12609","url":null,"abstract":"<p>The <i>Great Divergence</i> debate has been the leading conversation in economic history for the past 25 years. This review article explores new comparative horizons in global economic history. I argue that questions of <i>South–South Divergence</i> form a logical and timely extension to the Great Divergence research agenda. Asia's economic renaissance did not only put an end to a century-spanning process of widening global income disparities, it also set a new process of divergence <i>within</i> the global south in motion. Deeper understandings of the historical nature and origins of this transition are pertinent in light of the increasing demographic and economic weight of the global south. South–south comparisons also offer an opportunity to counter the dominance of western-centered and north–south perspectives and incentivize the development of new approaches and theories that go beyond mainstream concepts designed by development economists and political scientists. I argue that these novel approaches will have to grapple with the opportunities and constraints to “late” development being shaped by the quadruple challenge of <i>vast technology gaps, limited state autonomy, global competition</i>, and rapidly <i>closing</i> land and resource <i>frontiers</i>.</p>","PeriodicalId":51374,"journal":{"name":"Journal of Economic Surveys","volume":"39 2","pages":"517-545"},"PeriodicalIF":5.9,"publicationDate":"2024-01-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/joes.12609","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139373878","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Nazim Hussain, Sana Akbar Khan, Duc Khuong Nguyen, Andrea Stocchetti, Shaen Corbet
{"title":"Board-level governance and corporate social responsibility: A meta-analytic review","authors":"Nazim Hussain, Sana Akbar Khan, Duc Khuong Nguyen, Andrea Stocchetti, Shaen Corbet","doi":"10.1111/joes.12603","DOIUrl":"10.1111/joes.12603","url":null,"abstract":"<p>Board-level corporate governance (CG) is an effective route to developing sustained ethical behavior, helping firms to meet emerging accountability challenges and international expectations of corporate performance. In recent times, researchers have extensively studied the relationships between various board-level governance mechanisms and corporate social responsibility (CSR) outcomes; however, results vary substantially. This study addresses the existing heterogeneity in the literature by systematically synthesizing 89 empirical studies on the board governance-CSR nexus using meta-analyses using random effect models. Results indicate that most governance mechanisms are strongly associated with CSR disclosure. On the contrary, only a few governance mechanisms are found to be significantly associated with CSR performance, suggesting that not all governance mechanisms are equally effective for performance and disclosure. However, board size and the presence of CSR committee on board are the closest predictors of both CSR outcomes. Additionally, our analysis of the moderating effect of study characteristics shows that coverage period, geographical setting, and measurement of CSR generate variability in existing findings. Our synthesis of the extant literature identifies a theoretical gap, clarifies the board CG-CSR relationship, and proposes future research directions and guidelines within the field.</p>","PeriodicalId":51374,"journal":{"name":"Journal of Economic Surveys","volume":"39 1","pages":"3-31"},"PeriodicalIF":5.9,"publicationDate":"2023-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/joes.12603","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139069817","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Vice versa: The decoupling of content and topic heterogeneity in collusion research","authors":"W. Benedikt Schmal","doi":"10.1111/joes.12600","DOIUrl":"10.1111/joes.12600","url":null,"abstract":"<p>Collusive practices continue to be a significant threat to competition and consumer welfare. It should be of utmost importance for academic research to provide the theoretical and empirical foundations to antitrust authorities and enable them to develop proper tools to encounter new collusive practices. Utilizing topical natural language machine learning techniques allows me to analyze the evolution of economic research on collusion over the past two decades in a novel way. It enables me to review some 800 publications systematically. I extract the underlying topics from the papers and conduct a large set of uni- and multivariate time series and regression analyses on their individual prevalences. I detect a notable tendency towards monocultures in topics and an endogenous constriction of the topic variety. In contrast, the overall contents and issues addressed by these papers have grown remarkably. This caused a decoupling: Nowadays, more datasets and cartel cases are studied but with a smaller research scope.</p>","PeriodicalId":51374,"journal":{"name":"Journal of Economic Surveys","volume":"38 5","pages":"1686-1730"},"PeriodicalIF":5.9,"publicationDate":"2023-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/joes.12600","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139069472","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The role of cognitive biases in conspiracy beliefs: A literature review","authors":"Lorenzo Gagliardi","doi":"10.1111/joes.12604","DOIUrl":"10.1111/joes.12604","url":null,"abstract":"<p>In recent years, several studies have found that conspiracy believers tend to be more susceptible to cognitive biases (e.g., conjunction fallacy, proportionality bias, agency detection bias, etc.). The aim of this work is to review such literature, systematizing these concepts in a unifying framework of conspiracy mentality as a set of biased cognitive processes, which categorizes cognitive biases in two classes: those that contribute to belief formation and those that contribute to belief updating. Drawing on several empirical results, this paper summarizes the role of cognitive biases in conspiratorial thinking, offering some insights for future research and raising questions about the possible weaknesses of this approach.</p>","PeriodicalId":51374,"journal":{"name":"Journal of Economic Surveys","volume":"39 1","pages":"32-65"},"PeriodicalIF":5.9,"publicationDate":"2023-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/joes.12604","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139069474","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Review of behavioral economics models of the altruistic crowding-out effect from monetary incentives","authors":"Stijn Bruers","doi":"10.1111/joes.12606","DOIUrl":"10.1111/joes.12606","url":null,"abstract":"<p>The altruistic crowding-out effect is a decrease of prosocial behavior due to monetary incentives or material rewards that intend to increase an extrinsic motivation for the behavior. The decrease in a behavior by increasing a motivation for that behavior, seems irrational, but behavioral economists presented a dozen different models to explain this crowding-out effect. In these models, the decrease in prosocial behavior is rational in the sense that agents maximize their expected utility. All the models assume that people have utility functions that represent their preferences and motivations. This review clarifies different kinds of motivations, rewards, incentives, and crowding-out effects, presents 13 behavioral economics models, classifies them in five types of models, discusses subtle nuances of the models, summarizes the different predictions of the different models, and provides an overview of the empirical support of the models. The main take-away is that the crowding-out effect could not only be explained in terms of rational, utility-maximizing behavior, but could be done so in many (at least 13) different ways. This review can be used to improve empirical validation of the models and to gain insights in the specific contexts in which crowding-out occurs.</p>","PeriodicalId":51374,"journal":{"name":"Journal of Economic Surveys","volume":"38 5","pages":"1656-1685"},"PeriodicalIF":5.9,"publicationDate":"2023-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139051548","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Fabio Montobbio, Jacopo Staccioli, Maria Enrica Virgillito, Marco Vivarelli
{"title":"The empirics of technology, employment and occupations: Lessons learned and challenges ahead","authors":"Fabio Montobbio, Jacopo Staccioli, Maria Enrica Virgillito, Marco Vivarelli","doi":"10.1111/joes.12601","DOIUrl":"10.1111/joes.12601","url":null,"abstract":"<p>This paper is a critical review of the empirical literature resulting from recent years of debate and analysis regarding technology and employment and the future of work as threatened by technology, outlining both lessons learned and challenges ahead. We distinguish three waves of studies and relate their heterogeneous findings to the choice of technological proxies, the level of aggregation, the adopted research methodology and to the relative focus on robots, automation and AI. The challenges ahead include the need for awareness of possible <i>ex-ante</i> biases associated with the adopted proxies for innovation; the recognition of the trade-off between microeconometric precision and a more holistic macroeconomic approach; the need for granular analysis of the reallocation and transformation of occupations and tasks brought about by different types of new technologies; the call for a closer focus on impacts on labor quality, in terms of types of jobs and working conditions.</p>","PeriodicalId":51374,"journal":{"name":"Journal of Economic Surveys","volume":"38 5","pages":"1622-1655"},"PeriodicalIF":5.9,"publicationDate":"2023-12-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/joes.12601","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138579630","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Zohid Askarov, Anthony Doucouliagos, Hristos Doucouliagos, T. D. Stanley
{"title":"Selective and (mis)leading economics journals: Meta-research evidence","authors":"Zohid Askarov, Anthony Doucouliagos, Hristos Doucouliagos, T. D. Stanley","doi":"10.1111/joes.12598","DOIUrl":"10.1111/joes.12598","url":null,"abstract":"<p>We assess statistical power and excess statistical significance among 31 leading economics general interest and field journals using 22,281 parameter estimates from 368 distinct areas of economics research. Median statistical power in leading economics journals is very low (only 7%), and excess statistical significance is quite high (19%). Power this low and excess significance this high raise serious doubts about the credibility of economics research. We find that 26% of all reported results have undergone some process of selection for statistical significance and 56% of statistically significant results were selected to be statistically significant. Selection bias is greater at the top five journals, where 66% of statistically significant results were selected to be statistically significant. A large majority of empirical evidence reported in leading economics journals is potentially misleading. Results reported to be statistically significant are about as likely to be misleading as not (falsely positive) and statistically nonsignificant results are much more likely to be misleading (falsely negative). We also compare observational to experimental research and find that the quality of experimental economic evidence is notably higher.</p>","PeriodicalId":51374,"journal":{"name":"Journal of Economic Surveys","volume":"38 5","pages":"1567-1592"},"PeriodicalIF":5.9,"publicationDate":"2023-12-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/joes.12598","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138563600","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}