Price assessments by consumers: influence of purchase context and price structure

Among the numerous factors that influence decisions on prices, consumer behaviour has special significance. This paper reviews and analyses relevant studies conducted during the last few decades. On the basis of our analysis, four categories of factors that determine consumer behaviour have been identified. Additionally, we have developed an experimental research design to analyse the influence that the following factors have on price perception: price structure (i.e. price level, order of presentation and price differences), purchase context (i.e. reason for purchase or product use) and demographic characteristics (i.e. gender). Results reveal a significant influence of these variables on consumer behaviour.     

POPULATION POLICY THROUGH TRADABLE PROCREATION ENTITLEMENTS*

One of the first tradable rights proposal is Boulding's (The Meaning of the Twentieth Century, London: George Allen and Unwin Ltd, 1964 ), dealing with overpopulation. We discuss both tradable procreation allowances and exemptions domestically and globally, to address underpopulation as well. We focus on three effects. Notably, the rights' tradability entails that whereas exemptions or expensive enough allowances benefit the poor, cheap allowances benefit the rich. A natalist policy also worsens the average education level of the next generation, whereas population control enhances it. Also, if procreation rights are grandfathered to countries, the scheme redistributes further. Our analysis suggests that procreation entitlements may be efficient in controlling population, without being necessarily anti‐redistributive.     

长期股权投资权益法核算下会计与税法的差异

由于我国实行的是税会分离模式,因此税法上在确定应纳税所得额和会计在确认利润的时候,二者之间必然有很多的差异,既有永久性的差异也有时间性的差异,长期股权投资权益法导致的差异比较难以把握,因为当会计对长期股权投资采用权益法核算的情况下从取得长期股权投资到最后的处置每一个环节都存在会计处理和税法规定不相一致的地方。     

Statistical Analysis of Choice Experiments and Surveys

Measures of households' past behavior, their expectations with respect to future events and contingencies, and their intentions with respect to future behavior are frequently collected using household surveys. These questions are conceptually difficult. Answering them requires elaborate cognitive and social processes, and often respondents report only their “best” guesses and/or estimates, using more or less sophisticated heuristics. A large body of literature in psychology and survey research shows that as a result, responses to such questions may be severely biased. In this paper, (1) we describe some of the problems that are typically encountered, (2) provide some empirical illustrations of these biases, and (3) develop a framework for conceptualizing survey response behavior and for integrating structural models of response behavior into the statistical analysis of the underlying economic behavior.     

Self-help Groups and Income Generation in the Informal Settlements of Nairobi

The aim of this paper is to understand the functioning and thescope of self-help groups in the informal settlements of urbanareas as a means of generating income for poor households. Ituses a unique data set collected by the author in 1999 surveyingall individual group members from several informal settlementsin Nairobi. It studies the individual determinants of earningswithin groups and relates group composition to various indicatorsof group functioning. Sex, age and ethnic identity are amongthe most important determinants of individual reliance on groupincome and of access to group loans. Heterogeneity in earningsamong members is shown to reduce their ability to borrow fromthe group as a whole but not from each other. The impact ofethnic and other forms of heterogeneity on the division of labour,choice of compensation schemes, sanctioning technology and recruitmentcriteria is also described.     

How Should the Allocation of Resources Adjust to the Baby Bust?

We analyze the impact of a drop in fertility on the optimal allocation of resources in an overlapping generations economy where old workers care about leisure. We also characterize optimal dynamics and study the decentralization of the optimum by means of inter‐generational transfers and/or public debt. We conclude that the policy recommendations of postponing retirement is fragile and depend on preferences and technologies. Also, even when the optimal adjustment of public debt goes into the expected direction in the long run—i.e., public debt should decrease—this may not be the case during the transition.     

Words that shake traders : The stock market's reaction to central bank communication in real time

This paper investigates the effects of Federal Reserve's decisions and statements on U.S. stock and volatility indices (Dow Jones Industrial Average, NASDAQ 100, S&P 500, and VIX) using a high-frequency event-study analysis. I find that both the surprise component of policy actions and official communication have statistically significant and economically relevant effects on equity indices, with statements having a much greater explanatory power of the reaction of stock prices to monetary policy. For instance, around 90% of the explainable variation in S&P 500 is due to the surprise component of Fed's statements. This paper also shows that equity indices tend to incorporate FOMC monetary surprises within 40 min from the announcement release. Finally, I find that these results are robust along several dimensions. In particular, I consider different estimators, such as the Generalized Empirical Likelihood, and I extend the sample to include the recent period of heightened financial stress. This sensitivity analysis corroborates that central bank communication about its future policy intentions is a key driver of stock returns.     

Alcohol abuse among adolescents: regional evidence from Spain

The aim of this paper is to offer regional evidence from Spain on alcohol abuse among adolescents. Specifically, we identify the determinants of the decision to abuse alcohol with respect to the five most important regions of Spain, as well as for the country as a whole. To this end, we estimate Probit specifications using data drawn from the Spanish Surveys on Drug Use in the School Population corresponding to 1994, 1996 and 1998. The results first reveal patterns that are qualitatively similar, but quantitatively different. Similarly, it would appear that economic policies aimed at reducing the access of adolescents to alcohol may have a positive effect on reducing abuse. Finally, the results suggest that encouragement be given to healthy habits among young people, as well as to the fight against education failure and the launching of information campaigns that accurately portray the current lifestyle of adolescents.     

青藏铁路开通与西藏大发展——青藏铁路：西藏发展的助推器

2005年我国历史上最重要的一条铁路——青藏铁路全线贯通，2006年7月正式试运营。对于这样一条全世界都关注的铁路的建成和运营，将对西藏的经济社会发展产生什么影响？我们应该选择什么样的应对策略，是值得认真研究的大课题。为此，本期封面文章全力推出专题：青藏铁路开通与西藏大发展。本刊特邀《西藏人口发展战略研究》课题组专家学者，力图从西藏的社会、文化、经济各个方面作一深入探讨，为各级政府决策提供科学建议，为西藏的发展建言献策。[编者按]     

Research instrumentation and institutional innovation in canada

Science policy is being challenged. Conceptions of innovation and the nature of research are rapidly being forced beyond traditional views which see innovation as a linear process and science policy in terms of funding issues. Indeed, the policy challenge is being defined by the tension between trying to conduct or encourage research that is at or near an expanding research frontier, while simultaneously functioning within 'steady state' fiscal environments. One key manifestation of this challenge—which is underpinned by a new social contract between the scientific and government communities—is being expressed in terms of the changing role that research instrumentation is playing with regard to research management, research policy and research planning. This paper examines several Candian example f the changing nature of research, with particular reference to the role of instrumentation; it also outlines the particular challenges that small open econmies must face with respect to instrument-intensive research and offers a possible taxonomy for analyzing innovation and policy options.