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This article provides a critical review and discussion of current literature on technology transfer, incubators, and academic entrepreneurship. Drawing upon the notion of robustness in social systems and public choice theory, we review, code, and taxonomize 166 studies to assess the likelihood that these initiatives will generate innovation and economic growth. We find that academic entrepreneurship initiatives are characterized by conflicting goals, weak incentive structures for universities and academics, and are contextually dependent upon factors such as university strength. Our results suggest that there are critical boundary conditions that are unlikely to be fulfilled when universities and policymakers enact policies to support academic entrepreneurship initiatives. Policymakers therefore need to be cautious in the potential design of such initiatives. We discuss how technology transfer from universities might be better achieved through alternative mechanisms such as contract research, licensing, consulting and increased labor mobility among researchers.

With the fiscal illusion, which is seen as a failure of the public economy, individuals cannot fully and accurately perceive their tax burden. As a result, more public good services are demanded and expenditures increase. The excessive increase in public expenditures returns toindividualsbyincreasingtaxburdens.Fiscalillusions,which arise due to reasons such as the complexity of the tax system, automatic increases in taxes, and the preference for borrowing or printing money instead of taxation, prevent the individual and the state from making rational decisions. Failure to makerational decisions negatively affects the economic and financial power of both the individual and the state, leading to a decrease in social welfare. Therefore, it is important to determine the level of financial illusion and minimise it. The current study determines the level of financial illusion by the survey method and to present various policy recommendations according to the results. In this context, f inancial illusion levels were measured by applying a survey to 608 individuals in the Aegeanregion. Thedata obtained from the survey wereanalysed using the SPSS 22 package programme. According to the results of the study, the financial illusion level of the individuals participating in the survey is above average. However, the level of financial illusion increases as age and income level increases and, decreases as education level increases. In addition, it was determined that the financial illusion level of men, singles and Aydın was higher than their groups

Public choice theory, an analysis of politics based on economic principles, is often considered to be one of the major innovations in economics and political sciences in the second half of the twentieth century. In its formulation by James Buchanan and Gordon Tullock, public choice is commonly understood as one of the major theoretical building blocks in the development of neoliberal thought. It was also remarkably popular with economists and political scientists within the Dutch Labour Party (Partij van de Arbeid) in the mid-1970s. This latter fact is surprising since public choice was seemingly at odds with the Keynesian ideas around which the Labour Party had built its economic policy. This article investigates why and how public choice became popular in the Labour Party. In understanding the popularity of this theory, I will argue, it is important to see the popularity of neoliberal ideas not only in reaction to the economic tribulation of the period but also as a discussion on social planning and an expression of discontent with the democratization movement. Since the rise of neoliberalism in Dutch policymaking is often understood as coming from liberal and conservative channels, studying public choice within the Labour party will shed new light on the development of neoliberalism in the Netherlands.

The objective of the (U.S.) Federal Aviation Administration Airport Improvement Program (AIP) is “to help in developing a nationwide system of public-use airports that meets the current needs and the projected growth of civil aviation” (FAA 2002). Despite its importance to airports, academic study of the program – its effect, benefits, and deficiencies - has been limited. This paper explores funding decisions in light of AIP grantee characteristics using a regression analysis. It is suggested that the decision-making apparatus supporting the AIP program does not clearly take into consideration current needs, or the projected growth of civil aviation.

Public choice theory, an analysis of politics based on economic principles, is often considered to be one of the major innovations in economics and political sciences in the second half of the twentieth century. In its formulation by James Buchanan and Gordon Tullock, public choice is commonly understood as one of the major theoretical building blocks in the development of neoliberal thought. It was also remarkably popular with economists and political scientists within the Dutch Labour Party (Partij van de Arbeid) in the mid-1970s. This latter fact is surprising since public choice was seemingly at odds with the Keynesian ideas around which the Labour Party had built its economic policy. This article investigates why and how public choice became popular in the Labour Party. In understanding the popularity of this theory, I will argue, it is important to see the popularity of neoliberal ideas not only in reaction to the economic tribulation of the period but also as a discussion on social planning and an expression of discontent with the democratization movement. Since the rise of neoliberalism in Dutch policymaking is often understood as coming from liberal and conservative channels, studying public choice within the Labour party will shed new light on the development of neoliberalism in the Netherlands.

Objective: To determine the effect of Public Private Partnership (PPP) financing structure on the completion of geothermal energy development projects in Kenya.   Theoretical Framework: The study used agency and public choice theories to analyze the dynamics between PPP financing structure and completion of geothermal energy development projects.   Methodology: A cross-sectional census survey in Kenya surveyed 48 geothermal energy development projects, collecting quantitative data through structured questionnaires and qualitative insights from industry regulators, financiers, and practitioners. A combination of descriptive, correlation, and linear regression statistical models were applied. Multiple diagnostics tests and data triangulation were performed.   Results and Discussion: The study results provide strong statistical evidence depicting a positive relationship between PPP financing structure and the completion of geothermal energy development projects in Kenya. The findings suggest that as the level of PPP involvement increases, so does the likelihood of faster project completion. The study also reveals that a balanced PPP financing structure has a substantial effect on the completion of geothermal energy development projects. The analysis demonstrates that a hybrid PPP financing structure comprising recommended proportions of private and government equity, commercial and concessional loans, hybrid finance, and grants significantly affects project completion outcomes.   Research Implications: The study emphasizes the significance of a structured PPP financing model, comprising private and government equity, concessional and commercial loans, hybrid finance, and mixed grants, in mitigating inherent PPP risks for enhanced project completion outcomes. In addition, effective government support measures and robust delivery capability of developers jointly influence the two variables in a significant manner.   Originality/Value: This study uniquely analyzes the influence of PPP financing structure on the completion of geothermal energy development projects in Kenya, integrating quantitative and qualitative data for a comprehensive perspective, thus offering essential insights for stakeholders.

As pointed out by institutional economics, economic indicators may be improved by social institutions that maintain peace and order. Old Institutional Economics (OIE) believes that government should solve systemic socioeconomic problems according to given ideology. On the other hand, New Institutional Economics (NIE) supports only very little or state independent. Public choice theory, property rights, and agency theory have been of great importance in shaping New Public Management (NPM) through transaction cost theory application that underlies government role as regulator and controller. Following NIE, NPM has incorporated measures such as cutting down government, increasing efficiency and effectiveness, encouraging cost effectiveness, decentralizing power, and providing services at uniform standards. This study aimed to determine how NPM developed from the different theories related to NIE. This research evaluates NIE applications, i.e., public choice, transaction costs, and agency and property rights, in relation to NPM reform evolution, development, and execution. The study also considers institutional challenges on promoting market-driven public management practices. NIE ideas are combined with NPM principles such as effectiveness, marketization, and focus on results. It analyses the part played by institutional mechanisms in these reforms or not and tries to say what conditions lead to successful NPM reforms with regard to institutional factors. This study demonstrates that NIE can explain changes in public administration and may serve as advice for policymakers in proper reforms. Moreover, certain adaptation approaches are recommended for assessing institutional impediments prior to NPM reforms. Nevertheless, research recognizes limitations, including methodological problems in quantifying institutional variables, difficulties in determining cause–effect links between institutional factors and reform results, as well as the challenge of isolating NIE’s impact from other factors in public sector reform.

Various processes in recent years have brought about trends of polarization within democratic societies, challenging political stability. Against this backdrop, policy patterns that are being adopted regarding controversial issues are significantly affected by these countries’ aspiration to create and maintain a consensus, which may have implications not favoring the public. One such issue is human experiments in medicine (clinical trials), which has been regulated by most countries through primary legislation. As a deeply divided society, Israel has been addressing this issue through regulation and secondary legislation, despite several attempts to have it regulated through primary legislation. This article employs the consociational model alongside Public Choice Theory to explain the adoption of this policy pattern on the issue of human experiments. Based on thematic analysis of semi-structured interviews and existing sources, it sheds light on the normative choice that weighs the merits of primary legislation against the virtues of accommodation and consensus.

PurposeThe aim of this paper is to investigate whether Mayors in Portugal engage in earnings management close to zero with the motivation of re-election.Design/methodology/approachThe data used in this study were annual financial information from Portuguese municipalities from 2005 to 2016, as well as data on elections and Mayor re-elections involving three political cycles. The methodologies employed were quantitative, including graphical and panel data regressions.FindingsThe results indicate that municipalities used discretionary accruals to engage in earnings management to report net earnings close to zero, and re-election seems to be a motivation for earnings management behaviour. Furthermore, the results suggest that municipalities in which the Mayor is re-elected are less likely to report positive net earnings close to zero.Originality/valueThis paper makes a valuable contribution to the literature on earnings management in municipalities. At the theoretical level, it makes it possible to identify whether re-election is a motivation for earnings management and, in this sense, to identify patterns of behaviour by managers. On a practical level, the knowledge of a manager's behaviour patterns will help to anticipate his or her future behaviour and, consequently, may prevent inefficiencies.