ERC Adv Grant Testimony Patrick Legros Universit libre de Bruxelles - - PowerPoint PPT Presentation

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ERC Adv Grant Testimony Patrick Legros Universit libre de Bruxelles - - PowerPoint PPT Presentation

Aug 17, 2022 262 likes •778 views

ERC Adv Grant Testimony Patrick Legros Universit libre de Bruxelles (ECARES) My Project Bring together Organisational Economics and Industrial Organisation My Project Bring together O rganisational Economics and I ndustrial O rganisation

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ERC Adv Grant

Testimony Patrick Legros Université libre de Bruxelles (ECARES)

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My Project

Bring together Organisational Economics and Industrial Organisation

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My Project

Bring together Organisational Economics and

Industrial Organisation

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Challenges

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Challenges

  • Why is this pathbreaking?
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Challenges

  • Why is this pathbreaking?
  • Why now?
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Challenges

  • Why is this pathbreaking?
  • Why now?
  • Why me?
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Why is it Pathbreaking?

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  • OE (Organisation Economics)
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  • OE (Organisation Economics)
  • Conflicts of interest, between stakeholders (owners,

workers, managers)

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  • OE (Organisation Economics)
  • Conflicts of interest, between stakeholders (owners,

workers, managers)

  • Sources of imperfections are within the organisation
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  • OE (Organisation Economics)
  • Conflicts of interest, between stakeholders (owners,

workers, managers)

  • Sources of imperfections are within the organisation
  • IO (Industrial Organisation)
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  • OE (Organisation Economics)
  • Conflicts of interest, between stakeholders (owners,

workers, managers)

  • Sources of imperfections are within the organisation
  • IO (Industrial Organisation)
  • Firm is a profit maximizing black box
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  • OE (Organisation Economics)
  • Conflicts of interest, between stakeholders (owners,

workers, managers)

  • Sources of imperfections are within the organisation
  • IO (Industrial Organisation)
  • Firm is a profit maximizing black box
  • Sources of imperfections are outside the organisation.
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OIO

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OIO

  • Industry performance is affected by choices of

integration, internal organisation even when there are no imperfections in the product market

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OIO

  • Industry performance is affected by choices of

integration, internal organisation even when there are no imperfections in the product market

  • financial crisis
  • corporate scandals (Enron, MCI)
  • plane crashes
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OIO

  • Industry performance is affected by choices of

integration, internal organisation even when there are no imperfections in the product market

  • financial crisis
  • corporate scandals (Enron, MCI)
  • plane crashes
  • Relationship between industry structure and prices

may be reversed (what causes what)

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Why now?

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  • 60s: a-theoretical; replaced a paradigm

(profit maximization) by another (market share maximization).

  • 80s: focus on incentive compensation;

hard to measure Previous attempts in the 60s and the 80s

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Now

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  • New and rich theories of organisations

Now

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  • New and rich theories of organisations
  • Can go beyond incentive compensation and, e.g., look

at integration decisions

Now

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  • New and rich theories of organisations
  • Can go beyond incentive compensation and, e.g., look

at integration decisions

  • Ability to measure organisational variables
  • degree of integration
  • managerial structure
  • …

Now

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Why me?

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  • I have contributed to both literatures
  • Recent papers on OIO
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Writing a Proposal:

To Do & Not To Do

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A Previous Mistake

  • Other attempt to ERC (different project): 2009
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A Previous Mistake

  • Other attempt to ERC (different project): 2009
  • Spent time on B2, too little on B1
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A Previous Mistake

  • Other attempt to ERC (different project): 2009
  • Spent time on B2, too little on B1
  • B1
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A Previous Mistake

  • Other attempt to ERC (different project): 2009
  • Spent time on B2, too little on B1
  • B1
  • Looked like a variation of previous work
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A Previous Mistake

  • Other attempt to ERC (different project): 2009
  • Spent time on B2, too little on B1
  • B1
  • Looked like a variation of previous work
  • Did not bring forth the (exciting) new directions
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A Previous Mistake

  • Other attempt to ERC (different project): 2009
  • Spent time on B2, too little on B1
  • B1
  • Looked like a variation of previous work
  • Did not bring forth the (exciting) new directions
  • Lacked concrete examples
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What I Did Right This Time

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What I Did Right This Time

  • Used outside consultants (help from ULB)
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What I Did Right This Time

  • Used outside consultants (help from ULB)
  • Had others read the proposals (B1 and B2)
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What I Did Right This Time

  • Used outside consultants (help from ULB)
  • Had others read the proposals (B1 and B2)
  • Spent significant time on B1
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What I May Have Done Wrong This Time

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What I May Have Done Wrong This Time

  • Used a simple example rather than a full model
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What I May Have Done Wrong This Time

  • Used a simple example rather than a full model
  • Plus: simpler to understand by readers
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What I May Have Done Wrong This Time

  • Used a simple example rather than a full model
  • Plus: simpler to understand by readers
  • Minus: some referees took this as THE model
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What I May Have Done Wrong This Time

  • Used a simple example rather than a full model
  • Plus: simpler to understand by readers
  • Minus: some referees took this as THE model
  • Used a single organisational model in the proposal
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What I May Have Done Wrong This Time

  • Used a simple example rather than a full model
  • Plus: simpler to understand by readers
  • Minus: some referees took this as THE model
  • Used a single organisational model in the proposal
  • Plus: focus
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What I May Have Done Wrong This Time

  • Used a simple example rather than a full model
  • Plus: simpler to understand by readers
  • Minus: some referees took this as THE model
  • Used a single organisational model in the proposal
  • Plus: focus
  • Minus: focus
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General Advice

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General Advice

  • Have many people (non-specialists, spouse) read

the proposal

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General Advice

  • Have many people (non-specialists

the proposal

  • Give yourself plenty of time to write the proposal
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General Advice

  • Have many people (non-specialists

the proposal

  • Give yourself plenty of time to write the proposal
  • B1 should not be cut-and-paste from B2
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General Advice

  • Have many people (non-specialists

the proposal

  • Give yourself plenty of time to write the proposal
  • B1 should not be cut-and-paste from B2
  • Rewrite, rewrite, rewrite, rewrite, rewrite, rewrite,

rewrite, rewrite, rewrite, rewrite, rewrite, rewrite, rewrite, rewrite, rewrite, rewrite, rewrite, rewrite, rewrite, rewrite, rewrite,…