Archive for October, 2010

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| Peter Klein |

25 October 2010 at 3:43 pm 3 comments

Cui Bono Blues

| Scott Masten |

No, not some long lost Robert Johnson classic. I’m referring to the Justice Department’s suit filed earlier this week against Blue Cross Blue Shield of Michigan, with “hints” from the Justice Department that more health industry suits are in the pipeline. The allegation is that BCBCM used most-favored nation agreements with hospitals to reduce “competition in the sale of health insurance in markets throughout Michigan by inhibiting hospitals from negotiating competitive contracts with Blue Cross’ competitors.”

I don’t know enough about the case to say anything about its merits at this point. But I do find curious the DOJ’s choice of a nonprofit for its demonstration project on controlling healthcare costs through the antitrust laws. It reminds me of [uh-oh, here it comes — Ed.] (more…)

23 October 2010 at 9:43 pm Leave a comment

Earning My Keep. . . .

| Scott Masten |

I would post something on this morning’s Wall Street Journal article, “Putting a Price on Professors,” but (i) I risk becoming the obsessed, repetitous guest who spoils the party for everyone else (it’s not my fault this stuff is showing up a lot in the news right now!), and (ii) I have 163 midterms to grade and, having read the article, I need to make sure that I earn my compensation. [That shouldn’t require much work — Ed.]

Update: Go read Craig Pirrong’s post on the WSJ article at Streetwise Professor. That’s an order.

23 October 2010 at 11:44 am Leave a comment

Using Content Analysis to Measure Scholarly Impact

| Peter Klein |

Two Princeton computer scientists have developed an algorithm for measuring scholarly impact based on content analysis, not citation data. Here’s the paper, and here’s a summary. I pay attention to impact factors (not as closely as some people) but am open to alternative measures — particularly any that might make me look better.

22 October 2010 at 3:19 pm 4 comments

Missouri Information Encountering Workshop

| Peter Klein |

Sorry for the late notice, but my local readers may be interested in a two-day workshop today and tomorrow on the Opportunistic Discovery of Information, a version of information encountering with close parallels to Israel Kirzner’s concept of entrepreneurial discovery. Sanda Erdelez can provide more information.

21 October 2010 at 10:30 am Leave a comment

The Five Stages of Grading

| Peter Klein |

A nice complement to Daniel Solove’s classic guide to grading: “The Five Stages of Grading” at (via David Croson). “Everyone is familiar with Elisabeth Kübler-Ross and her stage model of coping with grief popularly known as the five stages of grief. What you may not know is that Kübler-Ross actually developed her theory as a graduate student, basing her conception of the process of loss on the experiences one goes through over a grading weekend.”

18 October 2010 at 10:46 am Leave a comment

“The Meanest and Most Contemptible Persons in Society”*

| Scott Masten |

*That would be Peter, Dick, Lasse (I think), and me, but not Nicolai. (See below.)

I haven’t posted anything on higher education governance in a couple of weeks, so I guess it is about time. My excuse will be an Instapundit link to an opinion column titled “End Our ‘Multiuniversities’.”

The author, David Warren, complains that the “great majority of the universities — founded since the Second World War to bureaucratically process and credentialize a large part of the general population, as a matter of ‘right’ and regardless of their intellectual capacities — are in effect ‘community colleges’ or trade schools,” a condition that he attributes in the main to public funding. (Warren is writing from Canada but a related piece makes clear his reprobation is catholic.) I am broadly sympathetic with his lament, though I am less confident that public funding is the ultimate culprit. What I want to comment on, however, is his (possibly facetious) solution: (more…)

17 October 2010 at 1:00 pm 6 comments

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Nicolai J. Foss and Peter G. Klein, Organizing Entrepreneurial Judgment: A New Approach to the Firm (Cambridge University Press, 2012).
Peter G. Klein and Micheal E. Sykuta, eds., The Elgar Companion to Transaction Cost Economics (Edward Elgar, 2010).
Peter G. Klein, The Capitalist and the Entrepreneur: Essays on Organizations and Markets (Mises Institute, 2010).
Richard N. Langlois, The Dynamics of Industrial Capitalism: Schumpeter, Chandler, and the New Economy (Routledge, 2007).
Nicolai J. Foss, Strategy, Economic Organization, and the Knowledge Economy: The Coordination of Firms and Resources (Oxford University Press, 2005).
Raghu Garud, Arun Kumaraswamy, and Richard N. Langlois, eds., Managing in the Modular Age: Architectures, Networks and Organizations (Blackwell, 2003).
Nicolai J. Foss and Peter G. Klein, eds., Entrepreneurship and the Firm: Austrian Perspectives on Economic Organization (Elgar, 2002).
Nicolai J. Foss and Volker Mahnke, eds., Competence, Governance, and Entrepreneurship: Advances in Economic Strategy Research (Oxford, 2000).
Nicolai J. Foss and Paul L. Robertson, eds., Resources, Technology, and Strategy: Explorations in the Resource-based Perspective (Routledge, 2000).