Will China's WTO accession worsen farm household incomes?

Many fear China's accession to the World Trade Organization (WTO) will impoverish its farmers via greater import competition in its agricultural markets. We explore that possibility bearing in mind that, even if producer prices of some (land-intensive) farm products fall, prices of other (labor-intensive) farm and nonfarm products could rise. New estimates, from the global, economy-wide numerical simulation model known as Global Trade Analysis Project (GTAP), of the likely changes in agricultural and other product prices as a result of WTO accession, are drawn on to examine empirically the real income implications of China's WTO accession. The results suggest farm–nonfarm income inequality may well rise within China but rural–urban income inequality need not. The article concludes with some policy suggestions for alleviating any pockets of farm household poverty that may emerge as a result of WTO accession.     

Countries and their products: A cognitive structure perspective

This research reports on consumers’ cognitive structures for countries and their products. In-depth personal interviews identified respondents’ knowledge, beliefs, myths, and other relevant cognitions related to a diverse set of 11 countries and their products. Derived cognitive dimensions were analyzed via correspondence analysis, and the 11 countries were subsequently grouped into five sets, or cognitive categories. In addition to the empirical findings, the article introduces the concept of country equity as a new way of thinking about global brands and discusses managerial implications related thereto. He has published in theJournal of Consumer Research, Journal of Marketing Research, Journal of Marketing, and elsewhere. His articles have appeared in theJournal of Marketing, Journal of the Academy of Marketing Science, Journal of International Business Studies, California Management Review, and others. He is the coauthor of two marketing research textbooks and has published in leading marketing and social psychological journals.     

Brands matter: An empirical demonstration of the creation of shareholder value through branding

This research responds to the attendant need for empirical evidence pertaining to how marketing affects firm performance. Using the Fama-French method, common in finance, and a leading marketplace measure of a brand’s financial equity value, the authors provide empirical evidence for the branding-shareholder value creation link. The results extend previous research by showing that strong brands not only deliver greater returns to stockholders than does a relevant benchmark but do so with less risk This finding holds even when market share and firm size are considered. Barclays Global Investors Thomas J. Madden is a professor of marketing and director of the Professional MBA/Executive International MBA programs at the Moore School of Business, University of South Carolina. His research focuses on the measurement of brand meaning, marketing metrics, and value-based marketing strategies. His research has appeared in theJournal of Marketing Research, theJournal of Marketing, and theJournal of Consumer Behavior. Frank Fehle (frank.fehle@barclaysglobal.com) is the head of Europe Equity Research at Barclays Global Investors in London, United Kingdom. Previously, he was an assistant professor of finance at the University of South Carolina. His research focuses on empirical asset pricing, market microstructure, risk management, and derivatives. His work has appeared in theJournal of Financial Economics, theJournal of Futures Markets, theJournal of Economics and Business, theReview of Quantitative Finance and Accounting, among other journals and conference proceedings. Susan Fournier is an associate professor of marketing at Boston University. Her research focuses on branding and brand relationship marketing. Current projects explore person-brands, resonance as a moderator of the brand meaning → brand strength connection, the types of relationships consumers form with brands, and dynamic processes of relationship development and evolution. She served for 9 years on the Harvard Business School faculty and 2 years as a visitor at Dartmouth College. She consults with a range of companies to inform her teaching, case development, and research.     

Neighborhood as Spatial Project: Making the Urban Order on the Downtown Brooklyn Waterfront

This article argues for a reconceptualization of one of the most basic concepts in urban studies: the neighborhood. Traditionally neighborhoods have been understood as clearly bounded, quasi‐Westphalian containers or as ‘natural areas’ of urban community. But this approach is widely acknowledged to be under‐theorized. And it fails to account for the ways in which the production of neighborhood is inherently political and often conflictual. After reviewing the ways in which neighborhood has been used in urban sociology and urban planning, this article offers a critical conception of neighborhoods as ‘spatial projects’ on the submetropolitan scale. This approach captures the ways in which neighborhoods are not abstract spaces on a city map, but the uneven, unequal products of complex, ongoing struggles between various groups and institutions. This approach is developed through an ethnographic and historical case study of neighborhood formation in one part of Brooklyn, New York. The article concludes with a discussion of how the language of spatial projects refocuses urban research on the political and economic forces that produce neighborhood in the contemporary city.     

The determinants of price in 3G spectrum auctions

This article examined the empirical relationship between prices paid for national 3G wireless licenses when spectrums were sold by auction. The reduced-form modelling approach was based on the premise that auction design features can, and do, affect both final (revenue) and intermediate (viz., auction competitiveness and license assignment) auction outcomes. Importantly, the analysis recognizes, and explicitly allows for, the endogeneity of bidder entry and sample selection arising from an absence of bidding. Generally, these key features have only received attention in isolation. In particular, the study addressed the principal question of: which regulator chosen auction design variables determine prices paid in spectrum auctions? The analysis showed that flexible-package formats increased prices paid, and that higher reserve prices had a dampening effect. The article also showed that longer license terms and more competitive auctions (as measured by the bidders-to-licenses ratio) enhance prices paid.     

Targeting Teaching: Engaged Learning with the Inquiry‐Based Question Cluster Discussion Technique: Student Outcomes in a History of Economic Thought Course

Twenty‐six undergraduate students explored the meaning of the classics (Adam Smith and Karl Marx) and two lesser‐known contributions in ethics and economics (Robert Owen and John Ruskin) in a spring 2007 history of economic thought course. This article introduces the inquiry‐based discussion technique used in the course and presents five question clusters fulfilling requirements for an inquiry‐based discussion. A proposed hypothesis is that the technique increases student understanding of challenging texts. Pre‐ and postdiscussion assessments for five interpretative questions serve as evidence to evaluate the hypothesis. Assessment results lend empirical support to the hypothesized positive impact of the technique on student learning. End‐of‐the‐semester student survey results captured student opinions concerning their learning from the technique. Survey results suggest the students believe that the technique positively impacts aspects of the learning process; the students recommend the discussion technique for future use.     

Supporter Influence on Club Governance in a Sports League; a “Utility Maximization” Model

The article formalizes a seminal suggestion of Sloane ( 1971 ), studying a sports league in which club objectives are multi‐argument utility functions defined over profits, win percentages and fan (=supporter) welfare, thus combining the three objectives that have been addressed separately in previous models. Particular focus is on the consequences of increasing the utility weight on fan welfare, to capture the recent increasing supporter involvement in club governance in UK football. Positive consequences are unambiguously higher attendances, with more nuanced affects on ticket prices and player expenditure. A normative consequence is that positive profits for club owners indicate social sub‐optimality.     

ECONOMIES OF SIZE REVISITED

Empirical and theoretical investigations as to how firms evolve in size have been of interest to economists, agricultural economists and policymakers for decades. While returns to size have been frequently estimated, measurement has been carried out using a wide range of methodological approaches. This paper offers a critique and discussion of the conceptual and methodological issues surrounding the measurement of size economies.     

Demographic-economic analysis in a multi-zonal region: a case study of Nordrhein-Westfalen

"This paper develops a series of spatially-disaggregated demographic-economic models, based on an extended Leontief type input-output model. Travel between residence and place of work and residence and place of shopping is included in the models, and a detailed decomposition of a range of multipliers identified. A model explicitly involving travel to work is developed empirically for the state of Nordrhein-Westfalen in West Germany, and sets of multipliers presented which relate changes in demographic and economic variables in particular zones of the state with changes in economic output and employment-related variables in other zones."