In the pursuit of enhanced competitiveness organisations are today searching for innovative business models in order to foster economic benefits. In Slovenia, several clusters are being formed, including the Slovenian Transport Logistics Cluster (STLC) as one of the most important. The STLC is currently in the stage of dynamic growth, demanding business model formation and adequate informatisat...

During the past decade, the World Economic Forum has published its annual reports in which the Global Competitiveness Index is included. This paper aims to investigate the key factors for achieving an innovation-driven economy. In this paper, we used partial canonical correlation analysis (PCCA) to examine the relationships between key pillars in “efficiency enhancers” and “business sophisticat...

After middle age, further aging is associated with lower levels of many cognitive abilities, some of which could influence import economic decisions. Our prior research (Choi et al., 2014) shows a substantial negative relationship between age and the consistency of choices with economic rationality (decisionmaking quality). This paper investigates the sources of that negative correlation using ...

In more recent years, it has become increasingly recognized that R&D (research and development) is a key driver of economic growth, a source of innovation and change, and as such stimulates improvements in productivity and economic competitiveness. It is closely associated with knowledge and flexibility, two factors that have gained new significance as a source of competitiveness in an increasi...

“Rationality” has played a central role in shaping and establishing the hegemony of contemporary mainstream economics. As the specific claims of robust neoclassicism fade into the history of economic thought, an orientation toward situating explanations of economic phenomena in relation to rationality has increasingly become the touchstone by which mainstream economists identify themselves and ...

mal notion through an integration of three critical psychological insights of the past century. We begin with Simon's own insight of bounded rationality, continue with subsequent insights offered in the work of Kahneman and Tversky regarding deviations from rationality, and then consider what we know today about the limitations of the conscious mind. In our assessment, these three literatures t...

Regional and national policy makers have invested heavily in the cluster concept as a means of generating value for regions, particularly through the opportunities it may present for small regional enterprises as vehicles for growth and job creation. Economic theorists such as Porter, have shaped many of policies being adopted, from a macro-economic perspective, yet the process by which actors ...

Great hope is currently put in biotechnological innovation to create economic growth and ensure future competitiveness of regions and nations. For some years, economic geography and economics have been focusing on privileged sites when explaining geographical variances in actors’ ability to innovate: e.g. regional innovation systems, clusters, industrial districts and creative milieus. In such ...

Do neoliberal economic policies help or hinder human development? Many have argued that such policies promote economic stability and growth, which may have indirect positive effects on human welfare. Others claim that neoliberal policies retard human development. We argue that neoliberal economic policies may improve the human welfare in ways that are independent of their effects on economic pe...

Though uncertainty pervades all aspects of life and human action, it has a rather short history in economics. Surprisingly, Daniel Bernoulli’s (1738) notion of expected utility, which suggests that (in games of chance) monetary risky ventures ought to be evaluated by the sum of utilities of outcomes weighted by the corresponding probabilities, was not immediately used in economic theory. Indeed...