Tenure choice and expected mobility: A synthesis

This study employs a joint logit probability model to estimate the effects of a vector of independent variables on the household's current tenure choice and expected mobility which are hypothesized to be simultaneously determined. In the empirical analysis it was found that the coefficient on the endogenous variables (tenure choice and expected mobility) is the most highly significant of all the coefficients estimated. In addition, in previous analyses the age of the household head has always exhibited a highly significant positive effect on the probability of ownership. However, in this analysis it is demonstrated that this age variable was acting as a proxy for the expected mobility and wealth of the household.     

Comparing bank concentration across countries

Cross-country comparisons of traditional measures of concentration, such as the Herfindahl index, are of limited use for answering normative questions such as: ‘Is the banking system too concentrated in our country?’ This paper develops a measure of concentration, essentially by normalising the Herfindahl index by a minimum feasible value for that index based on market size for each country. A formal derivation is given, and the measure is related to the mark-up of price over marginal cost for banking services. The empirical implications of the new measure are illustrated by reference to some recent studies.     

A useful scope for marketing

The debate over the nature and scope of marketing is far from settled, but the desire for change among marketers is apparent. It is urgent that marketers determine what the scope of their field should become as a necessary first step in developing an adequate definition. The effort so far has been somewhat haphazard with a variety of authors-extolling the virtues of their viewpoint. This article represents an attempt to add order to the search for a useful scope for marketing. To achieve this purpose, four norms are developed which seem suitable for testing the scope and definition of marketing. They include the level of abstraction norm, the norm of correspondence, the pragmatic norm, and the norm of simplicity. These four norms are first used to test two extreme positions and then to test a third compromise definition of marketing.