The computational complexity of random serial dictatorship

In social choice settings with linear preferences, random dictatorship is known to be the only social decision scheme satisfying strategyproofness and ex post efficiency. When also allowing indifferences, random serial dictatorship (RSD) is a well-known generalization of random dictatorship that retains both properties. RSD has been particularly successful in the special domain of random assignment where indifferences are unavoidable. While executing RSD is obviously feasible, we show that computing the resulting probabilities is #P-complete, and thus intractable, both in the context of voting and assignment.     

Senior marketers’ insights into the challenges of social media implementation in large organisations: assessing generic and electronic orientation models as potential solutions

Abstract

The unique characteristics of social media (SM) have made it difficult to implement this tool within many large organisations. This paper seeks to identify the implementation challenges and evaluate alternative organisational orientations that may provide solutions. We aimed to reconcile theory with current practice by integrating the extant literature with data from three focus groups involving 27 senior marketing executives. The managerial discussions identified additional challenges to those previously discussed in the literature, which appear to result from SM’s unique characteristics. These include: interactivity, the integration of communication into distribution channels, collaborative media and information collection. Using both broad orientation models (market orientation and entrepreneurial orientation) and a specific digital orientation (e-marketing orientation), guidelines and research propositions for effective implementation are put forward.     

Brands that ‘sell their soul’: offshoring,brand liquidification and the excluded consumer

ABSTRACT

Fuelled by open markets and globalisation, offshoring has become a common business practice for firms in industrialised countries. However, consumer research investigating offshoring in a larger macroeconomic and political context is scant. Using a naturalistic, contextualised approach, the current research investigates how a predominantly working/middle-class consumer segment perceives production offshoring for durable goods. The findings show how consumers can develop a sentiment of being excluded or left behind, even when they do not belong to traditionally disadvantaged segments in society defined by income, gender, education, appearance or sexual preference. Perceived brand liquidification, discussed through the marketplace mythologies of corporate greed and the opportunistic consumer, perceived brand de-contagion and patriotism/nationalism, leads to sentiments of exclusion and a longing for re-solidification. Exploring these relationships helps to understand current consumer sentiment towards offshoring in the larger context of neoliberalism and labour arbitrage.     

Rice farming in Nigeria : in praise of the smallholder

Food production policy in Nigeria is now oriented towards large scale commercial production. The Federal Government proposes 20000 hectares of public cassava farming in all 19 states and in the Abuja capital territory. The National Grains Board and the National Root Crops Production Company are establishing large farms in their operational zones. The Nigerian Agricultural and Cooperative Bank is loaning millions of naira to individual private farmers to encourage them to establish large farms. Virtually every state government has its Agricultural Development Corporation directly involved in agricultural production on a large scale. It is presumed that the smallholder system on which Nigeria currently depends is inefficient and could not be relied upon to achieve the necessary increases in production.     

Real wages,investment and employment: New evidence from West German sectoral data

Real Wages, Investment and Employment: New Evidence from West German Sectoral Data. — Non-separable capital adjustment costs imply that investment directly affects the demand for labour and therefore justify not only the lagged dependent variable but also the presence of investment expenditures or Tobin’s valuation ratio Q in labour demand estimation. On this basis, the authors estimate a very parsimonious specification of demand for blue-collar workers in a panel of 32 West German industries. They find much larger short-run real wage employment elasticities than previous research, and robustly significant positive effects of investment or Tobin’s Q on labour demand.     

Firm size,efficiency and employment: A review article

Summary S-J's book contains much careful and interesting discussion of small-firm employment data and related issues, and will be read by all workers in the field. However it also contains too much detailed quantification and international comparison of doubtful relevance, at least for most economists, and misses much background material of direct importance for evaluating the role of small firms. As a result, the authors seriously under-estimate the contribution of small business to both employment and efficiency of modern economies, as well as the importance of policy to correct the traditional and still pervasive bias towards large organizations.     

Capital-skill complementarity in West German manufacturing

Capital-skill complementarity is tested for two different definitions of skill, using data from 32 West German manufacturing industries from 1975–1990. Using the Kmenta approximation for the CES function provides strong support for complementarity between white collar workers and capital. On the other hand, when “skill” is defined as skilled white collar and blue collar workers, we find essentially no evidence for complementarity. This surprising result suggests that the official classification of skilled production workers does not capture the planning activity most complementary to increasing capital intensity and technological progress.     

Investment and marketing strategies of Mexican companies in the United States: Preliminary evidence

Because of its geographic proximity to the United States and its favored position as a member of the North American Free Trade Agreement (NAFTA), Mexico has become an emerging player in the global marketplace, and this new position has motivated several Mexican companies to establish businesses in the United States. Attempts have been made to explain why Mexican firms have become global players, explanations that focus on several national and international factors. However, these factors omit important drivers of the process, including entry and marketing strategies. This study aims to 1) give an account of how and why Mexican companies enter the United States, and 2) identify some tendencies in the way U.S. subsidiaries of Mexican companies develop and use marketing strategies to serve U.S. markets. © 2004 Wiley Periodicals, Inc.     

The surprising economics of a "people business"

When people are your most important asset, some standard performance measures and management practices become misleading or irrelevant. This is a danger for any business whose people costs are greater than its capital costs-that is, businesses in most industries. But it is particularly true for what the authors call "people businesses": operations with high employee costs, low capital investment, and limited spending on activities, such as R&D, that are aimed at generating future revenue. If you run a people business-or a company that includes one or more of them how do you measure its true performance? Avoid the trap of relying on capital-oriented metrics, such as return on assets and return on equity. They won't help much, as they'll tend to mask weak performance or indicate volatility where it doesn't exist. Replace them with financially rigorous people-oriented metrics-for example, a reformulation of a conventional calculation of economic profit, such as EVA, so that you gauge people, rather than capital, productivity. Once you have assessed the business's true performance, you need to enhance it operationally (be aware that relatively small changes in productivity can have a major impact on shareholder returns); reward it appropriately (push performance-related variable compensation schemes down into the organization); and price it advantageously (because economies of scale and experience tend to be less significant in people businesses, price products or services in ways that capture a share of the additional value created for customers).