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• Strategic partnerships between AI firms and pharmaceutical firms enhance drug discovery and development efficiency. • AI firms identify and leverage relational capabilities to align technological strengths with specialized needs of pharmaceutical partners. • Effective governance structures, formal and informal mechanisms, are essential for the success of AI–pharma collaborations. • Formal governance mechanisms provide a clear framework for collaboration, confidentiality, IP, and deliverables to ensure smooth partnerships. • Creation and esp. management of relationship-specific assets, AI models and new drug targets, is essential for achieving partnership objectives. Artificial intelligence-driven drug discovery (AIDD) companies hold significant promise for transforming pharmaceutical development, yet little is known about how they manage partnerships with established pharmaceutical firms. To address this research gap, our study explores how AIDD companies develop and leverage relational capabilities to enhance collaboration effectiveness. Through a case study approach, we focus on four key relational aspects: identifying complementary capabilities, establishing effective governance mechanisms, creating relationship-specific assets, and developing interfirm knowledge-sharing routines. Our findings demonstrate that particularly effective governance of intellectual property is essential for partnership success. We offer actionable recommendations for AIDD companies to strengthen collaborations, thereby contributing to the realization of AI's potential in drug discovery. [ABSTRACT FROM AUTHOR]

Actors, including economists, carry a responsibility for their actions and the consequences thereof seems obvious. In economics and among large numbers of economists this notion that economists should be responsible for their actions and the consequences thereof is not shared widely, as the financial crisis of 2007–8 and its aftermath indicated. We address related issues: economics has not really allowed conceptual space for the concept of responsibility. Responsibility, as commonly understood, is a duty or obligation of one particular individual towards others, such as individuals or institutions including the state. Individuals can thus be 'held responsible' for how their (lack of) actions affect others in a broad sense. We define responsibility as one's self-limiting and self-assumed obligation towards others to be aware of how one's actions have consequences for others – consequences which one is obliged to factor in when deciding upon an action. In this sense, we build on the work of Young ([2006]. Responsibility and Global Justice – a social connection model. Social Philosophy and Policy, 23 (1), 102–130.). Failure to factor in the consequences of one's actions on others trying to avoid damage to others, even more than seeking others' benefit, is a failure to behave responsibly. We discuss what this entails for the discussion about a professional code of conduct for economists. A code of conduct (rather than a law), i.e. a set of agreed upon rules to guide preferred behaviours of economists about what it means to act responsibly, will only prescribe to the extent that economists choose to have it affect their behaviour. [ABSTRACT FROM AUTHOR]

Analysing a unique, domain-similar database including all horticulturalists in a major flower-producing country, this paper shows that a firm’s central position in a network significantly improves its financial performance. The effect of strategic positioning in a network is in large part mediated through its enhanced innovativeness. Strategically positioning in a network of firms contributesmoreto firm performance,bothdirectly as well as indirectly, than other strategic options a firm has available, such as seeking scale, seeking to diversify, pursuing cost advantages, or locating in a cluster. [ABSTRACT FROM PUBLISHER]

Three major surveys of professional journalists, in 1976, 1986, and 1996, suggest that the vast majority consider themselves to be neutral, objective, and balanced observers, whose role is merely to provide information. But how neutral is the media, in terms of its orientation and effects on the behavior of the markets? In this paper, we unite a number of literatures to suggest that by choosing what event to report, how much and how frequent to report an event, and by choosing what descriptive tone to adopt in their coverage, the media has a non-neutral impact on the economy. We report evidence to suggest that: (1) the media helps set the public agenda, by promoting certain events and causes, for better or for worse; (2) the media influence the public's perception of risk, by disproportionately sensationalizing risk and by emphasizing probable negative consequences over probably positive ones; (3) the media influences elections and their outcomes; (4) the media influences the public's perception of the manager, the reputation of the firm, and the goods that the firm produces; (5) the media shapes consumer sentiment and the consumers' willingness to spend; and (6) the media shapes business sentiment and influences both firm- and market-level behavior. In doing so, we demonstrate conclusively that the media is not neutral: the media alters the public's perception of reality. In other words, we suggest not only that the media reports the news, but also shapes the world in which we live. [ABSTRACT FROM AUTHOR]

An introduction to the journal is presented in which the editor discusses various reports within the issue on topics including the prospects of a banker's oath, the epistemic aspects of economic practice, and the power of speech acts in ethical oaths in economics and business.

The authors reflect on the journal "Review of Social Economy" (RoSE). They states that RoSE has published articles that covers relationship between economics, ethics, and social values since 1942. They mentions the changes that will be applied in the journal such as the introduction of a "Speaker's Corner" which will features papers that cover related social economics issues and the scale back of book review section to thematically related books.

The appropriability regime (Teece 1986) that innovating service firms face is generally weaker than what firms in manufacturing sectors face. An important means to appropriate benefits from innovation that service firms can use is their reputation. This conceptual paper offers insights into how a firm's reputation helps in appropriating value from innovation. Depending on the nature of a service, different kinds of third parties come into play in establishing reputation. In helping firms establish a reputation, such third parties influence customer decisions to acquire a service. While 'to produce a service is to organise a solution to a problem', and thus does not involve a third party, is true for pure services in particular, for a service firm to benefit from innovation such others are involved. [ABSTRACT FROM AUTHOR]

Intellectual Property Rights take on a different significance in the knowledge economy and on the internet. Their expanding role is not necessarily a beneficial development for the economy a dynamic welfare analysis indicates. The effects of IPRs is compounded by the newly emerging relations between producers and consumers in which the latter are increasingly acting as dependent co-producers. [ABSTRACT FROM AUTHOR]

In this essay, contrary to popular belief, it is argued on the basis of transaction cost economics that consumers will become dependent subcontractors in electronic markets. Consumers invest time and effort building up a relationship with a producer, (r)e-tailer, or intermediary—an investment that is idiosyncratic. The intermediary only needs to invest in generic assets that enable him or her to automate the process of collecting and processing customer information needed to differentiate products and discriminate prices. As subcontractors, consumers face high switching costs and are thus dependent on intermediaries. Virtual communities of consumers that organize countervailing power will not mitigate this tendency. [ABSTRACT FROM AUTHOR]

Pop music is an important symbolic good, the advent of which in the 1950s and 1960s is not well understood. In this article I argue that this is due to the fact that its consumption is not usually analyzed. I therefore analyze survey and group interviews material to argue that pop music was not just an instrument in conflict between generations, but that it increasingly came to be associated with socio-cultural meanings such as success, independence and sexuality. In understanding the life world of consumers of pop music, I find that it is essential to know whom it represents but also what it represents. [ABSTRACT FROM AUTHOR]

Fashion is the quintessential post-modernist consumer practice, or so many hold. In this contribution, I argue that, on the contrary, fashion should be understood as a means of communicating one's commitment to modernist values. I introduce the framework of the Social Value Network, to relate such values to institutionalized consumption behavior, allowing one to signal to others. Modernist values are not homogenous, and are in important ways contradictory, giving rise to the dynamics of fashion that can be observed. [ABSTRACT FROM AUTHOR]

In continuous interaction with their audience, institutions for providing pop music became established from the 1960s onwards. These included, pop music radio, disc jockeys (DJ) and commercial charts. Pop music's "conquest" of the Netherlands was peculiar in comparison to other countries, including adjacent ones. This paper analyzes the advent of pop music in the context of the institutional sclerosis of Dutch radio and Dutch music press in particular, in terms of the theoretical framework of institutional economics. It argues that the slow spread of pop music in the Netherlands, compared with other countries, was linked to the conflict between the sociocultural values of the established public broadcasters and those of the emerging pop music industry.

ABSTRACT In contrast to findings in other countries, and surprisingly in view of the literature, high-tech economic activity in the Netherlands is not spread geographically according to either relevant labour market characteristics or to localised agglomeration economies. Instead, statistical analysis shows that the Netherlands is an urban field, and that the knowledge infrastructure is the only variable that can offer an explanation of the high-tech presence throughout the country. By analysing similar relationships for younger firms, we are able to make quite a strong case about causation. [ABSTRACT FROM AUTHOR]

In this article, we analyze recent dynamics of the Dutch health care sector, a hybrid system of public, private and professional elements, in terms of clashing discourses. Although these elements are intricately interwoven, this does not mean that the system is stable. Most notably, since the eighties the introduction of more market elements in the health care system has been widely debated. Hospitals introduced different methods commonly used in businesses, for instance. The position of managers in the institutions of health care has become more central. A discourse analysis shows the concomitant patterns of institutional change in the health care sector. We distinguish four different discourses concerning health care: economic, political, medical-professional and caring discourses. These different discourses give rise to, for example, different views of good care, the character and position of the patient, and leadership in health care organizations--views that sometimes clash intensely. [ABSTRACT FROM AUTHOR]

"Knowledge" takes a central place in economics. This paper shows that the metaphor pervasively used in neoclassical economics to understand knowledge is that of "capital". Taking capital as a metaphor of knowledge introduces problems in neoclassical economic theory, as becomes apparent when economics addresses issues of learning and technological development. Instead, it is argued that economists could learn from what philosophers such as Gilbert Ryle and Michael Polanyi have said about how to understand knowledge. [ABSTRACT FROM AUTHOR]

Value theory is central to economics. Whenever new economic theories appear on stage, their theory of value is different. I classify value theories along Locke's lines of primary and secondary qualities. When value is thought to inhere in objects, value is a primary quality. The marginalists perceive value as given to objects by autonomous individuals independent of their environment (much like monads) with given preferences. Value here is a secondary quality. Both are unsatisfactory; value is a social construct. The question arises why social value theory, which Clark and Anderson worked on around the turn of the nineteenth century, did not take root. [ABSTRACT FROM AUTHOR]

When seeking advice online about health concerns, forums dedicated to medical themes are increasingly becoming an appreciated source of information for many individuals. In online health communities, patients can ask questions or otherwise seek advice that is particularly relevant to them. While they may find some of the advice useful, other advice may be perceived as less valuable. By studying the advice-seeking, advice-giving, and advice-evaluation behaviours in one of the largest online health communities in Europe, this paper looks at what determines which advice is perceived as helpful, and why. Drawing on network theory, we analysed the interaction data of 108,569 users over twelve consecutive years based on all publicly available information of an established Q&A online health community. Utilising zero-inflated negative binominal modelling, our results show that advice received from others, who have similar predominant interests, is valued more when reaching out for lay expertise. If this advice is given by peers, who can also draw on expertise from other health areas, allowing for a combination of diverse "lay" expertise, the advice is valued even more. Advice provided by those who are quick to obtain the latest knowledge available in the larger community further reinforces these effects. Our findings offer an original view to understand the influence of lay expertise exchanged via online health communities and hold implications for both policy-makers and medical practitioners regarding their approach to patient-initiated use of social media for health-related reasons. • People readily seek health advice online. • People value advice from others who have similar predominant health interests. • People value advice from knowledgeable others. • People value speed of access to their peers' expertise. [ABSTRACT FROM AUTHOR]

Outlines an innovative plan for public museums and private financial companies to establish a partnership for the arts in Great Britain. Efforts of museums to source funding; Role of museums in society; Proposed structure of the fund to be set up for the arts; Market value of the arts fund; Rate of return of an investment in the arts fund.

The article introduces the new section of the journal "Review of Social Economy" entitled "Speaker's Corners" and invites contributions for the section.

This article provides information on the reorganization of the editorial team of "Review of Social Economy," The Association for Social Economics announced the appointment of four editors by the executive council to succeed editor John Davis. Intentions to maintain the journal's broad scope with respect to issues covered and perspectives presented, to foster productive inflows of ideas from neighboring social sciences. Individuals and practices are socially embedded and economic problems cannot be divorced from issues of human dignity, ethics and philosophy.

Introduces a series of articles on social economy.

The transition towards a circular economy within the construction industry continues to be a formidable challenge. One reason why the construction industry is not at the forefront of circularity is due to the complexity of ecosystem-level organizational forms. In the construction industry, the product-based organizational form characterizes an ecosystem structure with multilateral interdependencies among firms seems to be a more compatible approach towards circularity. Nevertheless, little research has been conducted into how the inter-organizational arrangements and interdependencies of actors within a product-based structure affect the orchestration and alignment between different firms during the implementation of new circular practices in the construction industry. Using an explanatory multi-grounded theory approach, this study investigates how product-based organizational forms affect partner alignment in construction ecosystems compared to project-based organizational forms during the implementation of new practices within the wider transition towards circularity. Based on a multiple-case study involving seven ecosystems, it is suggested that there is a positive connection between a construction ecosystem implementing a product-based approach and the extent of partner alignment being performed by the lead firms as well as a stronger iterative use of orchestration mechanisms to achieve partner alignment. The findings are relevant for both business ecosystems and sustainability scholars. [Display omitted] • Comparative study of 7 construction ecosystems to unpack collaboration dynamics for circular transition. • Business ecosystem theory explains actor interdependencies in circular construction industry transition. • Product-based structures favors the extent of partner alignment and orchestration mechanisms. • The development of new circular practices in the construction sector, are best realised by lead firms. • Product-based approach fosters mutual understanding of ecosystem's purposes and expectations. [ABSTRACT FROM AUTHOR]

Recent scholarship has started to recognize the need to understand the role of contracts in processes of circular business model innovation, particularly in Product Service Systems (PSS) business models. Ownership, usage right and risk allocation are key aspects of contract design, all influencing circular business model innovation. However, current knowledge of how contracts support emerging circular business models is limited. In this paper, we address this gap by presenting an in-depth analysis of a case study drawing on data stemming from the Fairphone-as-a-Service project to define key elements for a Circular Service Contract Template. Our findings support the idea that contracts, ownership, and usage right issues strongly influence the core elements of a PSS business model, such as servitization , longevity and modularity. Particularly, evidence from the case study confirmed the presence of tensions between ownership and contractual aspects when attempting to manage the circular business practices. • Key elements in circular economy contracts differ from linear business contracts. • Servitization, longevity and modularity are key aspects of CBMI. • Contractual mechanisms can enable critical CBMI processes in PSS models. • Contracts can be used for strategic purposes in CBMI for PSS models. • Contracts can enhance the applicability and scalability of PSS models. [ABSTRACT FROM AUTHOR]

The article offers information on economist Amartya Sen's views on the impact of social decisions in solving economic problems. Sen states that economic problems including poverty, hunger, and violation of political freedom impact the well-being and social life of an individual. Sen believes that a capability approach can be followed to examine economic issues and to improve the quality of life of people.

Digital technologies nowadays play a major role in innovation within the agri-food domain. The evolution of IT systems has currently arrived at a level that involves complex systems integration and business ecosystems in which many stakeholders in different roles are involved. A new paradigm for digital innovation is needed that copes with this increased complexity. This paper presents an empirically informed framework for analysing and designing viable, sustainable digital innovation ecosystems in the agri-food domain. The research is based on a series of European large-scale public-private innovation projects from 2011 to 2021 with a total budget of 73 M€. They involved hundreds of stakeholders that were developing a large number of digital solutions through which a digital innovation ecosystem for agri-food was formed. In a longitudinal study, a conceptual framework was used to analyse these projects and describe how the digital innovation ecosystem has developed. Lessons learnt are translated into a number of design principles and an organizational approach to foster digital innovation ecosystems in agri-food. The conceptual framework consists of 6 key concepts: (i) innovation strategy, (ii) innovation organization, (iii) innovation network that contains (iv) the innovation process and (v) the innovation object and finally (vi) an innovation infrastructure. Along these 6 concepts, lessons learnt and in total 21 design principles are derived from analysing the projects forming a basis for the organizational framework. At the core of this framework is a lean multi-actor approach to trials and use case development interacting with a set of multidisciplinary activities: (i) developing a common technical collaboration infrastructure, (ii) identifying value streams with user engagement, (iii) engaging the right partners and stakeholders at the right time supported by strategic project planning and dynamic management. The most important conclusion is that effective, successful and quick use of appropriate IT in agri-food requires that actors should not be analysed in isolation from both their technological and business environment. Another consequence is that a 'minimal viable ecosystem' only emerges after considerable time, resources and ingenuity is invested and may require outside (government) intervention. Results from this paper can be used both by public and private stakeholders to diagnose and improve digital innovation projects and develop viable, sustainable digital innovation ecosystems in agri-food. [Display omitted] • A data economy for food systems based on data spaces requires understanding and optimizing digital innovation ecosystems. • A conceptual framework is used to analyse the development of large digital innovation ecosystems in agri-food in Europe. • Lessons learnt are translated into design principles and approach to organize digital innovation ecosystems in agri-food. • The core is a lean multi-actor approach in use case development interacting with multidisciplinary activities. • The framework, design principles and approach can be used by stakeholders to foster viable digital innovation ecosystems. [ABSTRACT FROM AUTHOR]