Quotas versus tariffs

This paper examines the nonequivalence of tariffs and quotas under uncertainty, when the expected level of imports is constrained for noneconomic reasons. Tariffs and quotas are ranked according to their effect on expected social welfare. In the case of a stochastic foreign supply curve, the ranking will depend upon the height of the tariff. In the case of a stochastic import demand curve, a tariff will always yield greater social welfare than a quota.     

Management versus Mangel

Personalmanagement ist mehr als Disposition vorhandenen Personals - Planen, gewinnen, motivieren, binden – das und vieles mehr geh?rt zum Personalmanagement. Wie aber Personalmanagement betreiben, wenn der Fachkr?ftemangel weiter fortschreitet, Fachpersonal nicht mehr ausreichend oder gar nicht zur Verfügung steht?     

Balanced versus unbalanced growth

The question as to which economic sectors can play a leading role in a development process has given rise to two schools of thought. The author presents a survey of the “balanced” and “unbalanced” growth theories paying special regard to their practical applicability in the framework of international development strategies.     

Competitive versus Comparative Advantage

I explore the interactions between comparative, competitive and absolute advantage in a two‐country model of oligopoly in general equilibrium. Comparative advantage always determines the direction of trade, but both competitive and absolute advantage affect resource allocation, trade patterns and trade volumes. Competitive advantage in the sense of more home firms drives foreign firms out of marginal sectors but also makes some marginal home sectors uncompetitive. Absolute advantage in the sense of a uniform fall in home costs tends to raise home output in all sectors but also leads both countries to specialise less in accordance with comparative advantage.     

Global versus Local Strategic Alliances

The authors present a framework within which to decide when a firm should choose a single global strategic alliance partner, when regional alliances are more appropriate, and when it should use multiple local partners. Strategic factors proposed as determining this choice refer to: (1)economies of scale; (2)competitive pressure; (3)market and environmental certainty; and (4)global coordination. Operational considerations that constrain the choice involve: (1)market restrictions; (2)resource availability; (3)fiduciary risk; and (4)adaptation needs. These two sets of factors interact to suggest the appropriate geographical scope of strategic alliances. Two case examples are evaluated within this framework; one dealing with a global strategic alliance, the other with local strategic alliances.     

Positive versus negative comparative advertising

Two studies examined cognitive responses to comparative advertising that was valenced, i.e., was either negative or positive. Negative comparative advertising featured the advertised brand derogating the comparison brand (I'm OK, you're not OK). Positive comparative advertising claimed superiority over the comparison brand in a nonderogatory manner (You're OK, I'm more OK). Subjects were exposed to either a negative comparative ad or a positive comparative ad. In study 1, the ad featured either a high or low share advertised brand and either a high or low share comparison brand while in study 2, the ad featured advertised and comparison brands with either a strong or a weak reputation. Across both studies, it was found that negative comparative advertising evoked significantly higher counterargumentation and lower claim acceptance than its positive counterpart. Also, when the advertised brand had a high share relative to the comparison brand, counterargumentation was lower and claim acceptance was higher vis-a-vis when the advertised brand had a low share relative to the comparison brand. Findings pertaining to brand reputation were mixed. Managerial and future research implications of the findings are discussed.     

Orthodox Economics versus the People

David Henderson, Innocence and Design: the Influence of Economic Ideas on Policy, the Reith Lectures (Oxford: Basil Blackwell,) 125 pp. hardcover |SL15.00, paperback |SL4.95.     

Product advertising versus ideas advertising

Social marketing programs which promote the use of a product, such as a condom, have certain advantages over programs which simply try to convince people to change their behavior. Of considerable importance, the success or failure of a social marketing program can be readily assessed through the level of sales of the promoted product. Most programs designed to alleviate poverty or advance social goals are extremely hard to measure, often leading to program inefficiency and even undetected failure. However, when a socially motivated program depends upon product sales, those sales can be quickly measured. Even though sales statistics alone are not enough to accurately judge the impact of family planning programs, they can still say much about relative program efficiencies. The brand advantage of promoting and selling branded products is also explained.     

Free markets versus political consensus

The debate on international competitiveness in recent years has increasingly focused on the structure of society. International competitiveness is seen not merely as a sign of a country’s productive capacity, but also as reflecting the efficiency of its social and political structures. The following article examines the five most important western industrial nations in an attempt to answer the question as to which models of society are Internationally competitive.     

Bank of Japan versus Eurosystem

On 9 March 2006, the Bank of Japan announced a change in its monetary policy framework. It decided to terminate quantitative easing policy and intends to attach more importance to price stability. Because the new strategy shares similarities with the one used by the Eurosystem, the paper will use this point of comparison to examine the respective monetary policymaking institutions of Japan and the euro area. *This paper was written while Uwe Vollmer was staying at Kobe University as a visiting scholar. He wishes to thank Kobe University for the fi nancial support and generous hospitality he received during this visit. The authors would also like to thank Monika Bucher and Achim Hauck for their helpful remarks and James Lewelyn for his careful grammatical corrections of this paper.     

UNCTAD: Regulation versus self-regulation

The third session of UNCTAD adopted six resolutions on shipping and ports. They relate to: the development of ports; the international combined transport of goods; freight rates; the development of merchant marines; economic cooperation in merchant shipping; and a code of conduct for liner conferences.