Modelling price formation in electricity markets is a notoriously difficult process, due to physical constraints on electricity generation and transmission, and the potential for market power. This difficulty has inspired the recent development of bottom-up agent-based algorithmic learning...

In the 1990s, institutional and evolutionary economics emerged as one of the most creative and successful approaches in the modern social sciences. This timely reader gathers together seminal contributions from leading international authors in the field of institutional and evolutionary...

This paper considers the claim that critical realism provides a convincing critique of mainstream economics and offers a sound methodological basis for an alternative approach. It argues that critical realism presents a tendentious definition of positivism and a characterisation of mainstream...

We deal with the main points of Fleetwood's response to our earlier paper and argue that our main contentions remain intact. Critical Realism (CR) remains epistemologically weak; its claims for the usefulness of explanatory power are unconvincing; and, in particular, it provides little help in...

In this article the growing popularity of economic value added (EVA) is addressed. It discusses why managers are turning to EVA as a performance metric, how EVA is used by companies, and the problems that typically arise in implementing it. The accounts of Rhône-Poulenc are used to demonstrate...

The authors report the results of a recent large study of corporate centre transformation: a question which is often an early priority when a new chief executive takes office. This article summarises their approach to corporate centre design which maximises value creation. Recognising that there...