This is a book about traders in financial markets: what they do, the kind of people they are, how they perceive the world they inhabit, how they make decisions and take risks. This is also a book about how traders are managed - the best and the worst examples - and about the institutions they...

This paper examines the impact of illusory control beliefs on the performance of traders in financial instruments. The authors argue that the task and environment faced by traders are conducive to the development of illusions of control and that individual propensity to illusion of control will...

The paper develops a model of trade union behaviour based on the concept of the viable bargaining unit. Bargaining unit viability rests on five conditions; membership level, service level, membership participation, employer recognition and facilities. Viability is achieved by mobilisation of...

In this paper we seek to explain the emergence of different voice regimes, and to do so by using approaches from institutional economics. In particular we analyse the emergence of different voice regimes as a contracting problem; a ¿make¿ or ¿buy¿ decision on the part of the employer. A...

We maintain that employer associations are a specific form of employer collusion that is overt, formal and labour market focused which encompasses but is by no means confined to collective bargaining. We consider the conditions under which this form of collusion might emerge, and how it might...

We present a simple framework for analyzing decline in union voice in the Anglo-American world and its replacement by non-union, often direct, forms of worker voice. We argue that it is a decline in the in-flow to unionisation among employers and workers, rather than an increase in the outflow...

This paper looks at the financial resources of trades unions in the UK, both updating previous work and attempting to understand the management of first and second order collective action problems. First order problems refer to the problems of initiating collective action and second order...

We offer an explanation for the phenomenon of declining democratic engagement by assuming that what happens at work is the primary driver of what occurs outside of the workplace. If workers are exposed to the formalities of collective bargaining and union representation, they also perhaps...

Non-union direct voice has replaced union representative voice as the primary avenue for employee voice in the British private sector. This study explains this development by providing a framework for examining the relationship between employee voice and workplace outcomes. Voice is associated...

Many firms use the “3 lines of defense” (3LOD) model to clarify responsibility for risk management but this approach has limitations, as three distinct “lines” do not always enable sufficient clarity, mindsets formed through deployment in one business can be difficult to break when...