Inter-vivos Transfers and Exchange

Most parents divide their bequests equally among their children, whereas inter-vivos transfers are usually unequal. We propose that exchange is better for inducing inter-vivos transfers than bequests. Inter-vivos transfers can be adjusted quickly to the amount of care, are less costly than writing a will, and can be kept secret from other family members and the public. The results from national longitudinal data show that, as expected, if a parent gives any inter-vivos transfers, she is more likely to give to children who provide informal care. Informal care has no effect on the equality of intended bequests.     

Enacting risk reduction: an examination of the volitional stages of smoking cessation within Scotland

This study examines an extended version of the Theory of Planned Behaviour (TPB) in the context of nicotine replacement therapy (NRT) as an aid to smoking cessation. An attempt is made to address the intention–behaviour gap identified in the literature by specifically focusing on the role and interrelationships of volitional stages, namely intention, planning and anticipated effort. A convenience sample of 207 female smokers, aged 16–36, provided information about their views, attitudes and volitional behaviour regarding the use of NRT as an aid to smoking cessation. Results of this study show the TPB to be pertinent, accounting for 41% of the variance in intention to use NRT as an aid to smoking cessation. Furthermore, behavioural intention is found to mediate the relationship between the TPB antecedents (attitude, subjective norm and perceived behavioural control) and each of the two volitional elements, planning and anticipated effort. The implications of these findings are discussed.     

Control of SO2 emissions from power plants: A case of induced technological innovation in the U.S.

This paper investigates how the details of government actions induce innovation—the overlapping activities of invention, adoption and diffusion, and learning by doing—in “environmental technology,” products and processes that either control pollutant emissions or prevent emissions altogether. It applies multiple quantitative and qualitative measures of innovation to a case subject to several “technology-push” and “demand-pull” instruments: sulfur dioxide control technology for power plants. The study employs analyses of public R&D funding, patents, expert interviews, learning curves, conference proceedings, and experience curves. Results indicate that: regulation and the anticipation of regulation stimulate invention; technology-push instruments appear to be less effective at prompting invention than demand-pull instruments; and regulatory stringency focuses inventive activity along certain technology pathways. Increased diffusion of the technology results in significant and predictable operating cost reductions in existing systems, as well as notable efficiency improvements and capital cost reductions in new systems. Government plays an important role in fostering knowledge transfer via technical conferences, as well as affecting the pattern of collaborative relationships within the technical research community via regulatory changes that affect the market for the technology. Finally, the case provides little evidence for the claim that cap-and-trade instruments induce innovation more effectively than other instruments.     

Spillovers,Linkages and Technical Change

Using US input–output data for the period 1958–87, I find strong evidence that industry total factor productivity (TFP) growth is significantly related to the TFP performance of the supplying sectors, with an elasticity of almost 60%. R&D intensity is also found to be a significant determinant of industry TFP growth, with an estimated return of about 10–13% and the return to embodied R&D is estimated at 43%. Direct productivity spillovers, from the technological progress made by supplying sectors, appear to be more important than spillovers from the R&D performed by suppliers. They also play a key role in explaining changes in manufacturing TFP growth over time. Changes in the contribution made by direct productivity spillovers to TFP growth account for almost half of the slowdown in TFP growth in manufacturing from 1958–67 to 1967–77, and for 20% of the TFP growth recovery in this sector from 1967–77 to 1977–87. Changes in R&D intensity and embodied R&D are relatively unimportant in explaining movements in manufacturing TFP growth over these three periods.     

The incidence of unethical practices in marketing research: An empricial investigation

The authros examine from the perspective of marketing professionals the incidence of unethical research practices and the influence of organizational factors as determinants of the incidence of unethical research practices. The results indicate some degree of indicence of unethical research practices, particularly of those involving respondents. In addition, the results suggest four organizational variables— extent of ethical problems within the organization, top management actions on ethics, organizational role, and industry category—as determinants of the incidence of unethical research partices.     

Democracy,Veto Players and the Depth of Regional Integration

We examine how domestic political factors influence the type of regional integration arrangement (RIA) that states enter. States can pursue at least five types of RIA, in order of their depth of policy integration: preferential trade agreements, free trade areas, customs unions, common markets and economic unions. We argue that a country's regime type and the number of institutional ‘veto players’ strongly affect the type of arrangement that states choose. Democracies are more likely to form an RIA than other states, a tendency that becomes more pronounced as the proposed level of integration in an arrangement rises. However, all democracies are not the same. As the number of veto players rises, the likelihood of a democracy entering an RIA declines. Furthermore, veto players are expected to have a larger effect on the odds of a democracy forming an RIA, the greater is the extent of integration that the arrangement aims to achieve. A series of statistical tests, based on analysis of all pairs of countries from 1950 to 2000, support our arguments.     

Business Ethics in Theory and Practice: Diagnostic Notes A. A Prescription for Value

A business ethics practitioner and a moral theologian discuss business ethics. Drawing from value-added accounting principles, and extending them to include the company's stake-holders, especially its employees, Welch explains their significance for the origin, formation, and direction of his company's new ethics program. Primeaux responds to Welch from a perspective rooted in the economic theory of profit maximization and its ethical implications. Among the similarities in their thinking is a serious consideration of the role of profit for business and business ethics.     

International Evidence on the Stability of the Optimizing IS Equation*

We provide international evidence on the issue of whether the optimizing IS equation is more stable than a backward‐looking alternative. This evidence consists of estimates of IS equations on quarterly data for the UK and Australia, both for the full sample of the last 40 years and for the period following major monetary policy shifts in 1979–80. Results suggest the parameters in the optimizing IS equations are more empirically stable than those of the backward‐looking alternative. The use of dynamic general equilibrium modelling in empirical work does deliver material benefits, in the form of equations more suitable for policy analysis.