Entrepreneurship and innovation: public policy frameworks

The purpose of this paper is to identify and unravel the disparate views toward innovation prevalent within the economic community and to link them to the various public policy approaches. These various schools of thought, or ways of thinking about the economy in general and the role of entrepreneurship and innovation in particular, not only shape how innovation and entrepreneurial activity are valued, but also the overall policy debate concerning innovation and entrepreneurship. Unraveling of these views highlights the disparate way in which entrepreneurial activity leading to innovation is valued.     

Privatization,bureaucracy, and risk aversion

The role of governmental risk aversion in the decision to privatize the production of goods and services has not been examined closely. Using a model of a risk-averse, single-service Niskanen bureaucrat, we determine the conditions under which a bureaucrat will prefer to privatize rather than produce in-house. If the private-sector firm is risk neutral, the result will be a fixed-fee contract with complete insurance. If the private-sector firm is risk averse, the result will be a cost-plus contract with the degree of cost sharing determined by the bureaucrat's share of total risk aversion. In both cases, the bureaucrat's sponsor may affect the likelihood of privatization by manipulating the rewards and penalties imposed on the bureaucrat.     

The Economics of Science and Technology

This paper provides a non-technical, accessible introduction to various topics in the burgeoning literature on the economics of science and technology. This is an interdisciplinary literature, drawing on the work of scholars in the fields of economics, public policy, sociology and management. The aim of this paper is to foster a deeper appreciation of the economic importance of science and technology issues. We also hope to stimulate additional research on these topics.     

Can General Strain Theory Help Us Understand Violent Behaviors Among People with Mental Illnesses?

Recent work suggests that violence among people with mental illnesses is not simply due to the symptoms and comorbidities that define mental illness. We further this work by examining the extent to which strains or stressors explain the link between mental illness and violence. Specifically, we apply general strain theory (GST) to a longitudinal sample of adults with mental illnesses to investigate the lagged effects on violence of several strain measures, while controlling for mental illness symptoms, substance abuse, past violence, and other key variables. Parental drug abuse from childhood and stressful life events across the life course predict violence in adulthood. In a prospective model, relationship strain from an earlier time period significantly predicts changes in later self-reported violence. The results shed light on the ability of criminological frameworks to explain violence among people with mental illnesses.