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Network Learning, Principal-Agent Conflict, and Award-Winning Wine-Making in Chile's Colchagua Valley

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Author Info
David Hojman () (Management School, University of Liverpool, UK)
Abstract

Chile’s Colchagua Valley is both a geographical cluster of wineries and a dynamic learning network of wine-making professionals. A principal-agent problem arises in that the latter knowledge network is frowned upon by owners and top managers. Whereas experts aim at maximising quality, firms are interested in profits. Individual, personal success as a world-class expert is worth more to each professional, than to the respective winery. This conflict is compounded by traditional, authoritarian industrial relations. Multiple regression results confirm that expert network activity is a very poor predictor of award-winning international performance, or profits.

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Publisher Info
Paper provided by University of Liverpool Management School in its series Research Papers with number 200512.

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Length: 35 pages
Date of creation: 2005
Date of revision:
Handle: RePEc:liv:livedp:200512

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Postal: Management School University of Liverpool, Chatham Street, Liverpool, L69 7ZH, Great Britain
Phone: +44(0)151 795 3108
Fax: +44(0)151 795 3004
Web page: http://www.liv.ac.uk/management/
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Related research
Keywords: Networks; Principal-Agent; Wine; Chile;

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Find related papers by JEL classification:
D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information
D85 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Network Formation
L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
M54 - Business Administration and Business Economics; Marketing; Accounting - - Personnel Economics - - - Labor Management
O13 - Economic Development, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
Q16 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - R&D; Agricultural Technology; Agricultural Extension Services

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  1. Mark Granovetter, 2005. "The Impact of Social Structure on Economic Outcomes," Journal of Economic Perspectives, American Economic Association, vol. 19(1), pages 33-50, Winter. [Downloadable!] (restricted)
  2. Stefano Breschi & Francesco Lissoni, 2001. "Knowledge spillovers and local innovation systems: a critical survey," LIUC Papers in Economics 84, Cattaneo University (LIUC). [Downloadable!]
    Other versions:
  3. Scott Morton, Fiona M & Podolny, Joel M, 2002. "Love or Money? The Effects of Owner Motivation in the California Wine Industry," Journal of Industrial Economics, Blackwell Publishing, vol. 50(4), pages 431-56, December. [Downloadable!] (restricted)
  4. Peter Maskell & Mark Lorenzen, 2003. "The Cluster as Market Organization," DRUID Working Papers 03-14, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies. [Downloadable!]
  5. Ron Martin & Peter Sunley, 2003. "Deconstructing clusters: chaotic concept or policy panacea?," Journal of Economic Geography, Oxford University Press, vol. 3(1), pages 5-35, January.
    Other versions:
  6. Giuliani, Elisa & Bell, Martin, 2005. "The micro-determinants of meso-level learning and innovation: evidence from a Chilean wine cluster," Research Policy, Elsevier, vol. 34(1), pages 47-68, February. [Downloadable!] (restricted)
  7. Lissoni, Francesco, 2001. "Knowledge codification and the geography of innovation: the case of Brescia mechanical cluster," Research Policy, Elsevier, vol. 30(9), pages 1479-1500, December. [Downloadable!] (restricted)
  8. Callander, Steven & Plott, Charles R., 2005. "Principles of network development and evolution: an experimental study," Journal of Public Economics, Elsevier, vol. 89(8), pages 1469-1495, August. [Downloadable!] (restricted)
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