Open Access

Networks of social relationships are becoming increasingly important in today’s business environment. By cooperating in such structures players seek to overcome the shortcomings of the alternative forms of exchange, namely markets and hierarchies, and to realise (greater) information benefits. This is done through the reduction of complexities and uncertainties, as well as by increasing the speed of information flows and decision-making within networks. Traditional network research has focused on company networks and neglected the assessment of the underlying constituents of social networks. Studies concerned with the use of social ties for economic goals are generally not scientific and lack the theoretical foundation ti guide such an analysis. For these reasons it is the aim of this research paper, based on a theoretical framework, to systematically examine the underlying factors that lead to successful co-operations within a social network seeking to reach a common goal. The results of the current qualitative research study indicate that the factors suggested in the literature as significant for successful networking (e.g. common base; common language; mutual goals; sympathy for each other; a general interest in social contacts, combined with the necessary skills to act within social contexts) do indeed impact this type of co-operation as proposed. In addition to what is put forward in the literature it became evident that all successful individuals have a passion, besides their business activities, such as music, art or sports. This ardour also serves as a platform on which valuable contacts are established and maintained.

Im Zuge der wirtschaftlichen und gesellschaftlichen Veränderungen der letzten Jahre haben sich auch die Aufgaben des HR-Managements nachhaltig verändert. Mitarbeiter im Personalbereich müssen heute über andere Kompetenzen verfügen als noch vor einigen Jahren ...

This paper analyzes conditions for existence of a strongly rational expectations equilibrium (SREE) in models with private information, where the amount of private information is endogenously determined. It is shown that the conditions for existence of a SREE known from models with exogenously given private information do not change as long as it is impossible to use the information transmitted through market prices. In contrast, these conditions are too weak, when there is such learning from prices. It turns out that the properties of the function which describes the costs that are associated with the individual acquisition of information are important in this respect. In case of constant marginal costs, prices must be half as informative than private signals in order for a SREE to exist. An interpretation of this result that falls back on the famous Grossman–Stiglitz–Paradox is also given.