Public goods in networks

This paper considers incentives to provide goods that are non-excludable along social or geographic links. We find, first, that networks can lead to specialization in public good provision. In every social network there is an equilibrium where some individuals contribute and others free ride. In many networks, this extreme is the only outcome. Second, specialization can benefit society as a whole. This outcome arises when contributors are linked, collectively, to many agents. Finally, a new link increases access to public goods, but reduces individual incentives to contribute. Hence, overall welfare can be higher when there are holes in a network.     

A method for reducing information asymmetry in destination–airline relationships

We propose a measure of business risk in air travel demand at the route level that can reduce information asymmetry during route development negotiations between tourism destinations and airlines. Aviation-exposed risk (AER) conveys information about the level of uncertainty with regard to air travel demand from an airline’s perspective. Using AER, tourism destinations and air service development teams can evaluate their risks from the perspective of the airline and its network. From there, an assessment can be made as to the value of air services in certain circumstances, including whether a direct underwrite or risk share between airlines and destinations is viable and necessary. By applying a portfolio analysis to an airline’s network, we find evidence that AER does indeed mimic the actual capacity distribution of the network. This provides support for AER as a useful risk measure to be used in practice.     

Going multilateral? Financial markets' access and the League of Nations loans, 1923–8

Why are international financial institutions important? This article reassesses the role of the loans issued with the support of the League of Nations. These long‐term loans constituted the financial basis of the League's strategy to restore the productive basis of countries in central and eastern Europe in the aftermath of the First World War. In this article, it is argued that the League's loans accomplished the task for which they were conceived because they allowed countries in financial distress to access capital markets. The League adopted an innovative system of funds management and monitoring that ensured the compliance of borrowing countries with its programmes. Empirical evidence is provided to show that financial markets had a positive view of the League's role as an external, multilateral agent, solving the credibility problem of borrowing countries and allowing them to engage in economic and institutional reforms. This success was achieved despite the League's own lack of lending resources. It is also demonstrated that this multilateral solution performed better than the bilateral arrangements adopted by other governments in eastern Europe because of its lower borrowing and transaction costs.     

LearnSmart,adaptive teaching,and student learning effectiveness: An empirical investigation

Facing the growing number of digital natives entering the classroom, business professors look for innovative ways to enhance the student learning experience. The authors focus on the online interactive learning tool LearnSmart (McGraw-Hill, New York, NY), and examine its impact on student learning effectiveness by testing the direct and indirect relationships among perceived competence, perceived challenge, instructors, perceived value, and satisfaction with LearnSmart. Constructionism served as the theoretical foundation for this study. About 215 students at a public university in the United States took the survey and 197 valid responses were received. Regression analysis results showed that the use of LearnSmart improved students' perceived competency, thus increasing their perceived value of using LearnSmart, as well as their satisfaction with LearnSmart. Perceived value was also found to mediate the impact of perceived competency on satisfaction with LearnSmart, and the instructor played a significant role in facilitating and improving student learning. Perceived challenge impacted student's perceived value of using LearnSmart, but it did not influence satisfaction with LearnSmart.     

Research cycles

This paper studies the dynamics of fundamental research. We develop a simple model where researchers allocate their effort between improving existing fields and inventing new ones. A key assumption is that scientists derive utility from recognition from other scientists. We show that the economy can be either in a regime where new fields are constantly invented, and then converges to a steady state, or in a cyclical regime where periods of innovation alternate with periods of exploitation. Our analysis provides a rigorous foundation to the Kuhnian theory of scientific evolution. We show that scientists' care for reputation has a strong impact on research dynamics and tends to favor innovation. Especially, innovation fads may emerge. We also study welfare and find that the academic reputational reward system can help align scientists' short-term incentives with society's long-term interests.     

When Hosts Become Guests: Return Visits and Diasporic Identities in a Commonwealth Eastern Caribbean Community

The broad intent of this paper is to further contribute to the existing literature that addresses VFR tourism. It suggests that the return visit may ultimately be positioned as a form or type of travel within the larger category of VFR tourism, but a form or type that has built within it a more clear understanding of historic and social contexts and processes. The other broad intent of the paper is to highlight the importance of the relationship between the returning visitor, originating from diasporic communities abroad, and the host community as a stage for the negotiation of identities. The return visit is shown to reflect such underlying processes yet continue to incorporate aspects of individual motivation, which when taken together demonstrate the fluidity of diasporic spaces and transnational identity structures. Using data obtained from ethnographic fieldwork among social networks within the Commonwealth Eastern Caribbean community in Toronto, Canada, it is suggested that return visits are used to retain social histories and contextualise social and cultural backgrounds after migration. The implications for VFR tourism and the relationship between diasporas, transnationalism and tourism are discussed, as is a conceptual model of the return visit.     

从媒体演变看互动营销

中国人在互联网上休闲娱乐的同时也在找寻信息，对这一点，我一直深信不疑。人们对于发展和进步的渴望促使他们利用互联网来结交新朋友，并与之交流互动。这种追求进步的理念将最终决定互联网在中国的发展道路，并开发出更多新的网络应用，比如移动电话、数字电视等。     

Do I know you? How brand familiarity and perceived fit affect consumers’ attitudes towards brands placed in movies

The present study uses Associative Network Theory to construct a model that explains effects of brand placement in movies. Based on a field experiment (n?=?167), we investigate the effects of plot connection and prominence on brand attitude, as well as the mediating role of brand-movie fit and the moderating role of brand familiarity. Results show that more closely connecting a brand to the plot of a movie positively impacts brand attitude by increasing the perceived fit between the brand and the movie. Brand familiarity moderates the effect of the interaction between a placement’s plot connection and prominence on brand attitude. When brand familiarity is high, there is no significant effect of plot connection on brand attitude, nor is this effect moderated by the prominence of the placement. However, when brand familiarity is low, both prominently and subtly connecting the brand to the plot of the movie positively influences brand attitude. More importantly, the effect of plot connection is significantly stronger when an unfamiliar brand is prominently placed, than when it is subtly placed.