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2005

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Articles 1 - 30 of 36

Full-Text Articles in Other Economics

(Review) Self-Interest Before Adam Smith: A Genealogy Of Economic Science, Spencer J. Pack Dec 2005

(Review) Self-Interest Before Adam Smith: A Genealogy Of Economic Science, Spencer J. Pack

Economics Faculty Publications

Pierre Force, Self-Interest Before Adam Smith: A Genealogy of Economic Science (Cambridge: Cambridge University Press, 2003), pp. ix, 279, $65.00. ISBN 0-521 83060-5.


(Review) Pierre Force, Self-Interest Before Adam Smith: A Genealogy Of Economic Science, Spencer J. Pack Dec 2005

(Review) Pierre Force, Self-Interest Before Adam Smith: A Genealogy Of Economic Science, Spencer J. Pack

Economics Faculty Publications

Pierre Force, Self-Interest Before Adam Smith: A Genealogy of Economic Science (Cambridge: Cambridge University Press, 2003), pp. ix, 279, $65.00. ISBN 0-52183060-5.


The Corporate Form As A Solution To A Discursive Dilemma, Edward B. Rock Oct 2005

The Corporate Form As A Solution To A Discursive Dilemma, Edward B. Rock

Faculty Scholarship at Penn Law

I examine the connection between the discursive dilemma and corporate law. The discursive dilemma (or doctrinal paradox) is a distinctive social choice problem that was first identified by Kornhauser and Sager and later used as the basis for a theory of organizational personality by Pettit. I examine the ways in which the corporate form prevents the emergence of the discursive dilemma in the firm context and the extent to which the presence of the discursive dilemma can provide the foundation for a theory of corporate personality.


Bundling With Customer Self-Selection: A Simple Approach To Bundling Low-Marginal-Cost Goods, Lorin. M. Hitt, Pei-Yu Chen Oct 2005

Bundling With Customer Self-Selection: A Simple Approach To Bundling Low-Marginal-Cost Goods, Lorin. M. Hitt, Pei-Yu Chen

Operations, Information and Decisions Papers

With declining costs of distributing digital products comes renewed interest in strategies for pricing goods with low marginal costs. In this paper, we evaluate customized bundling, a pricing strategy that gives consumers the right to choose up to a quantity M of goods drawn from a larger pool of N different goods for a fixed price. We show that the complex mixed-bundle problem can be reduced to the customized-bundle problem under some commonly used assumptions. We also show that, for a monopoly seller of low marginal cost goods, this strategy outperforms individual selling (M = 1) and pure bundling (M = N ...


Triple Bottom Line Event Evaluation: A Proposed Framework For Holistic Event Evaluation, Liz Fredline, Michael Raybould, Leo Jago, Marg Deery Jul 2005

Triple Bottom Line Event Evaluation: A Proposed Framework For Holistic Event Evaluation, Liz Fredline, Michael Raybould, Leo Jago, Marg Deery

Michael Raybould

Although there has long been an interest in measuring the economic impacts of events, it is only relatively recently that concern about the sustainability of event tourism has driven an imperative to develop methods for evaluating and monitoring other sorts of impacts including social and environmental. This trend mirrors moves in general tourism and business more broadly where discussion about triple bottom line reporting underpins a move for enterprises to be accountable to stakeholders, not only in regard to the economic bottom line, but also with regard to their “footprint” on the environment and on society more broadly. There is ...


Connections Between U.S. Consumer Magazine Cover Characteristics And Single Copy Sales Circulation, Stephanie C. Barlow May 2005

Connections Between U.S. Consumer Magazine Cover Characteristics And Single Copy Sales Circulation, Stephanie C. Barlow

Syracuse University Honors Program Capstone Projects

In the realm of journalism, conventional wisdom suggests that magazine covers “sell” magazines at newsstands. This study explores this idea by looking at the econometric relationship between cover characteristics such as presence of people and “catch” words and single copy sales. Several significant characteristics influencing such sales are found. In addition, this study is based on a new data set developed by the author indicating various characteristics of numbers of magazine covers over a five-year time span.

Specifically, a set of 14 magazines were observed for 10 characteristics. The percentage of the presence of these characteristics on magazine covers over ...


Reciprocity, Matching And Conditional Cooperation In Two Public Goods Games, Rachel Croson, Enrique Fatas, Tibor Neugebauer Apr 2005

Reciprocity, Matching And Conditional Cooperation In Two Public Goods Games, Rachel Croson, Enrique Fatas, Tibor Neugebauer

Operations, Information and Decisions Papers

Experimental and empirical evidence identifies social preferences and proposes competing models of such preferences. We find that participants match the contributions of others in the voluntary contribution mechanism (VCM). We also examine a game with different equilibria, the weakest link mechanism (WLM). Here, in contrast, participants match the minimum contribution of others.


Economic Contributions Of Atv-Related Activity In Maine, Jonathan Rubin, Charles Morrris Mar 2005

Economic Contributions Of Atv-Related Activity In Maine, Jonathan Rubin, Charles Morrris

Economic Development

Riding ATVs has become a highly visible recreational activity in Maine. During the 2003/2004 season from July 1, 2003 to June 30, 2004 there were 59,057 ATVs registered in Maine to 45,561 separate households in Maine and from outside of Maine. During 2004, the Margaret Chase Smith Policy Center at the University of Maine in conjunction with the Maine Department of Conservation conducted a study to determine the total contribution to Maine’s economy that results from the spending related directly to the purchase and use of ATVs in Maine. We also examined the environmental and economic ...


Risk Management In The Integrated Nafta Market: Lessons From The Case Of Bse, Julie Caswell, David Sparling Jan 2005

Risk Management In The Integrated Nafta Market: Lessons From The Case Of Bse, Julie Caswell, David Sparling

Julie Caswell

No abstract provided.


Bearing The Costs Of Human-Wildlife Conflict: The Challenges Of Compensation Schemes, Philip J. Nyhus, Steve A. Osofsky, Paul Ferraro, H Fischer, Francine Madden Jan 2005

Bearing The Costs Of Human-Wildlife Conflict: The Challenges Of Compensation Schemes, Philip J. Nyhus, Steve A. Osofsky, Paul Ferraro, H Fischer, Francine Madden

Faculty Scholarship

No abstract provided.


Optimal Product Launch Times In A Duopoly: Balancing Life-Cycle Revenues With Product Cost, Sergei Savin, Christian Terwiesch Jan 2005

Optimal Product Launch Times In A Duopoly: Balancing Life-Cycle Revenues With Product Cost, Sergei Savin, Christian Terwiesch

Operations, Information and Decisions Papers

We present a model describing the demand dynamics of two new products competing for a limited target market. The demand trajectories of the two products are driven by a market saturation effect and an imitation effect reflecting the product experience of previous adopters. In this general setting, we provide analytical results for the sales trajectories and life-cycle sales of the competing products. We use these results to study the impact of launch time on overall life-cycle sales. We consider the perspective of one of the competing products and model the trade-off between the lost revenues resulting from a delayed launch ...


Retail Assortment Planning In The Presence Of Consumer Search, Gerard. P. Cachon, Christian Terwiesch, Yi Xu Jan 2005

Retail Assortment Planning In The Presence Of Consumer Search, Gerard. P. Cachon, Christian Terwiesch, Yi Xu

Operations, Information and Decisions Papers

Consumers often know what kind of product they wish to purchase, but do not know which specific variant best fits their needs. As a result, a consumer may find an acceptable product in one retailer but nevertheless purchase nothing, opting to search other retailers for an even better product. We study several models of retail assortment planning, some of which explicitly account for consumer search and one that does not, which we call the “no-search” model. Even though the no-search model never includes an unprofitable variant in the assortment, in the presence of consumer search, it may indeed be optimal ...


Houses Of Straw, David A. Bainbridge Jan 2005

Houses Of Straw, David A. Bainbridge

David A Bainbridge

Straw bale building offers high performance at a low cost. Bale building, developed on the grasslands of Nebraska at turn of the last century, has been rediscovered. High insulation values and high interior thermal mass make straw bales a good choice for passive solar design.


Heterogeneity And Common Pool Resources: Collective Management Of Forests In Himachal Pradesh, India, Sirisha C. Naidu Jan 2005

Heterogeneity And Common Pool Resources: Collective Management Of Forests In Himachal Pradesh, India, Sirisha C. Naidu

PERI Working Papers

In the past two decades, theoretical and empirical evidence suggests that communities of resource users are capable of overcoming social dilemmas, and are capable of creating and sustaining institutions designed to prevent degradation of common pool natural resources. However, there is incomplete understanding of what motivates this group-level behavior and why some communities are better adept at solving collective action problems than others. This paper specifically explores the role of group heterogeneity in collective action among forest communities in the northwestern Himalayas. Heterogeneity can have important social and ecological consequences and understanding both its nature and effects can help in ...


An Investigation Of Voluntary Discovery And Disclosure Of Environmental Violations Using Laboratory Experiments, James J. Murphy, John K. Stranlund Jan 2005

An Investigation Of Voluntary Discovery And Disclosure Of Environmental Violations Using Laboratory Experiments, James J. Murphy, John K. Stranlund

PERI Working Papers

This paper uses laboratory experiments to test individual responses to policies that seek to encourage firms to voluntarily discover and disclose violations of environmental standards. We find that while it is possible to motivate a significant number of voluntary disclosures without adversely affecting environmental quality, this result is sensitive to both the fine for disclosed violations and the assumption that firms know their compliance status without cost. When firms have to expend resources to determine their compliance status, motivating a significant number of violation disclosures yields worse environmental quality. Finally, relative to conventional enforcement, disclosure polices will result in more ...


Landowner Driven Sustainable Forest Management And Value-Added Processing, David T. Damery Jan 2005

Landowner Driven Sustainable Forest Management And Value-Added Processing, David T. Damery

PERI Working Papers

The Massachusetts Woodlands Cooperative, LLC (MWC) is working to help members conduct sustainable forestry of the highest standards while increasing financial returns from harvest activities. The forests of Massachusetts, the 3rd most densely populated of the United States, are threatened. Decades of high grading and the threat of conversion to alternative use present challenges for maintaining a forested landscape. Despite being 60% forested Massachusetts imports approximately 98% of the wood fiber that its citizens consume. MWC is a forest management, processing and marketing cooperative organized by and on behalf of forest landowners in western Massachusetts. The cooperative was envisioned in ...


Interaction Between Food Attributes In Markets: The Case Of Environmental Labeling, Gilles Grolleau, Julie A. Caswell Jan 2005

Interaction Between Food Attributes In Markets: The Case Of Environmental Labeling, Gilles Grolleau, Julie A. Caswell

PERI Working Papers

Some consumers derive utility from using products produced with specific processes, such as environmentally friendly practices. Means of verifying these credence attributes, such as certification, are necessary for the market to function effectively. A substitute or complementary solution may exist when consumers perceive a relationship between a process attribute and other verifiable product attributes. We present a model where the level of search and experience attributes influences the likelihood of production of eco-friendly products. Our results suggest that the market success of ecofriendly food products requires a mix of environmental and other verifiable attributes that together signal credibility.


What Motivates Common Pool Resource Users? Experimental Evidence From The Field, Maria Alejandra Vélez, John K. Stranlund, James J. Murphy Jan 2005

What Motivates Common Pool Resource Users? Experimental Evidence From The Field, Maria Alejandra Vélez, John K. Stranlund, James J. Murphy

PERI Working Papers

This paper develops and tests several models of pure Nash strategies of individuals who extract from a common pool resource when they are motivated by a combination of self-interest and other motivations such as altruism, reciprocity, inequity aversion and conformism. We test whether an econometric summary of subjects’ strategies is consistent with one of these motivations using data from a series of common pool resource experiments conducted in three regions of Colombia. As expected, average extraction levels are less than that predicted by a model of pure self-interest, but are nevertheless sub-optimal. Moreover, we find that a model of conformism ...


Inspections To Avert Terrorism: Robustness Under Severe Uncertainty, L. Joe Moffitt, John K. Stranlund, Barry C. Field Jan 2005

Inspections To Avert Terrorism: Robustness Under Severe Uncertainty, L. Joe Moffitt, John K. Stranlund, Barry C. Field

PERI Working Papers

Protecting against terrorist attacks requires making decisions in a world in which attack probabilities are largely unknown. The potential for very large losses encourages a conservative perspective, in particular toward decisions that are robust. But robustness, in the sense of assurance against extreme outcomes, ordinarily is not the only desideratum in uncertain environments. We adopt Yakov Ben-Haim’s (2001b) model of information gap decision making to investigate the problem of inspecting a number of similar targets when one of the targets may be attacked, but with unknown probability. We apply this to a problem of inspecting a sample of incoming ...


Market Power In Direct Marketing Of Fresh Produce: Community Supported Agriculture Farms, Daniel A. Lass, Nathalie Lavoie, T. Robert Fetter Jan 2005

Market Power In Direct Marketing Of Fresh Produce: Community Supported Agriculture Farms, Daniel A. Lass, Nathalie Lavoie, T. Robert Fetter

PERI Working Papers

CSA farms establish a loyal customer base and, potentially, market power. A new empirical industrial organization (NEIO) approach and survey data from Northeast CSA farms are used to determine whether CSA farms have market power and the extent to which they exercise their market power. Results suggest CSA farms exert about two percent of their potential monopoly power.


A Laboratory Investigation Of Compliance Behavior Under Tradable Emissions Rights: Implications For Targeted Enforcement, James J. Murphy, John Stranlund Jan 2005

A Laboratory Investigation Of Compliance Behavior Under Tradable Emissions Rights: Implications For Targeted Enforcement, James J. Murphy, John Stranlund

PERI Working Papers

This paper uses laboratory experiments to test the theoretical observations that both the violations of competitive risk-neutral firms and the marginal effectiveness of increased enforcement across firms are independent of differences in their abatement costs and their initial allocations of permits. This conclusion has important implications for enforcing emissions trading programs because it suggests that regulators have no justification for targeting their enforcement effort based on firm-level characteristics. Consistent with the theory, we find that subjects’ violations were independent of parametric differences in their abatement costs. However, those subjects that were predicted to buy permits tended to have higher violation ...


The Film Exhibition Business: Critical Issues, Practice, And Research, Jehoshua Eliashberg Jan 2005

The Film Exhibition Business: Critical Issues, Practice, And Research, Jehoshua Eliashberg

Marketing Papers

The supply chain for movies released for theatrical exhibition consists of the distributor, exhibitor, and the audience, as shown in Figure 5.1. The audience has opportunities to watch moveis in a number of distribution outlets: domestic theaters, foreign theaters, home video, and cable and network TV, where the time lags between the releases of the movies in successive outlets differ but are typically measured in months (Figure 5.2). Despite the availability of these multiple release windows, the theatrical performance of films in the United States has been considered by practitioners to be a critical success driver. "Theatrical exhibition ...


Sources Of Gender Difference In Rural To Urban Migration In Kenya: Does Human Capital Matter?, Richard U. Agesa, Jacqueline Agesa Jan 2005

Sources Of Gender Difference In Rural To Urban Migration In Kenya: Does Human Capital Matter?, Richard U. Agesa, Jacqueline Agesa

Economics Faculty Research

Using data from Kenya this article estimates the urban to rural gender gap in the rate of migration and then decomposes the gap into the explained portion and the portion due to gender differences in coefficients. The former is further decomposed to unveil the relative influence of each explanatory variable on the explained portion of the gender gap in the rate of migration. A non-trivial finding suggests that human capital variables may exert the strongest influence on gender differences in migration, partially explaining the higher incidence of male migration.


An Agent-Based Computational Laboratory For Testing The Economic Reliability Of Wholesale Power Market Designs, D. Koesrinartoto, Junjie Sun, Leigh Tesfatsion Jan 2005

An Agent-Based Computational Laboratory For Testing The Economic Reliability Of Wholesale Power Market Designs, D. Koesrinartoto, Junjie Sun, Leigh Tesfatsion

Economics Presentations, Posters and Proceedings

In April 2003 the U.S. Federal Energy Regulatory Commission proposed the wholesale power market platform (WPMP) for adoption by all U.S. wholesale power markets. The WPMP market design envisions day-ahead, real-time, and ancillary service markets maintained and operated by an independent system operator or regional transmission organization. Previous work reports on the development of an agent-based model for testing the economic reliability of the WPMP market design. This paper reports on the implementation of this model as an agent-based computational laboratory. Initial experiments focusing on optimal power flow solution methods for the day-ahead and real-time markets are also ...


Consumer Choices And Welfare Gains From New, Healthy Products: A Virtual Prices Approach, Sonya K. Huffman, Ariun Ishdorj, Helen H. Jensen Jan 2005

Consumer Choices And Welfare Gains From New, Healthy Products: A Virtual Prices Approach, Sonya K. Huffman, Ariun Ishdorj, Helen H. Jensen

Economics Presentations, Posters and Proceedings

This paper models consumer food choices with respect to different margarine and spread brands that include a new healthy brand. The results show that the older and smaller size households with higher income and higher education are more likely to purchase the healthy brand. An Almost Ideal Demand System for six brands was estimated and the coefficients were used to calculate price and brand expenditure elasticities in order to examine the responsiveness of the consumers to economic variables.


A Survey In Network Economics: Spam Email, Internet Routing, Graphical Economics, And International Trade, Mark E. Haase Jan 2005

A Survey In Network Economics: Spam Email, Internet Routing, Graphical Economics, And International Trade, Mark E. Haase

Honors Theses (PPE)

A survey of current topics in network economics, a relatively new and growing field of research at the intersection of economics and network theory. Case studies in spam email, Internet routing, and graphical economics are presented as practical applications. A network economic analysis of international trade is also offered. Most of the current literature addresses a highly technical audience. This paper intends to bridge the gap by presenting network economics in language that will be familiar to students of economics.


Structural Change In Cigarette Demand: Cusum Tests Using Panel Data, John R. Schroeter, Aju J. Fenn Jan 2005

Structural Change In Cigarette Demand: Cusum Tests Using Panel Data, John R. Schroeter, Aju J. Fenn

Economics Publications

We conduct custom tests of structural change in a rational addiction model of cigarette demand estimated using a panel of annual time series of state−level data. In contrast to the one previous application of custom tests to the question of cigarette demand stability, our results provide strong evidence of downward shifts in demand during the modern era of health warnings and anti−smoking campaigns.


Architectural Censorship And The Fcc, Christopher S. Yoo Jan 2005

Architectural Censorship And The Fcc, Christopher S. Yoo

Faculty Scholarship at Penn Law

No abstract provided.


Over Qualified And Under Experienced – Turning Graduates Into Hospitality Managers, Michael Raybould, Hugh Wilkins Dec 2004

Over Qualified And Under Experienced – Turning Graduates Into Hospitality Managers, Michael Raybould, Hugh Wilkins

Michael Raybould

Purpose – This paper sets out to report on research that investigated hospitality managers' expectations of graduate skills and compared those expectations with student perceptions of what hospitality managers value. Design/methodology/approach – The research adopted a generic skills framework and data were collected through a sample survey of 850 Australian hospitality managers and 211 undergraduate hospitality management students. Findings – Managers rated skills associated with interpersonal, problem solving, and self-management skill domains as most important while students appeared to have realistic perceptions of the skills that managers value when recruiting hospitality graduates. The most substantial areas of disagreement came in those ...


Market Power In Direct Marketing Of Fresh Produce: Community Supported Agriculture Farms, Daniel A. Lass, Nathalie Lavoie, Robert T. Fetter Dec 2004

Market Power In Direct Marketing Of Fresh Produce: Community Supported Agriculture Farms, Daniel A. Lass, Nathalie Lavoie, Robert T. Fetter

Daniel A. Lass

CSA farms establish a loyal customer base and, potentially, market power. A new empirical industrial organization (NEIO) approach and survey data from Northeast CSA farms are used to determine whether CSA farms have market power and the extent to which they exercise their market power. Results suggest CSA farms exert about two percent of their potential monopoly power.