Non-Market Services in Input–Output Analysis

Based on an Input–Output framework, the first part of the paper presents methodological problems of quantifying non-market services. Considering the static Input–Output table we extended the matrix of technological coefficients by some sectors of unpaid public goods. With the aid of a new intepretation of intersectoral flows measured by single elements of input and by quantifying structural effects of non-market services in interrelations with market goods and services an assessment of the output of non-market services can be given. Using the dynamic Leontief model for analysing non-market services in macroeconomics our model turned out to be Ljapunov-stable. But in spite of this general stability the system covering an economically suitable period was practically unstable. In the second part structural effects of non-market services according to both static and dynamic Input–Output models with an estimated data basis of the GDR economy are discussed.     

Cultural and Family Effects on Fertility Decisions in Taiwan, R.O.C.: Traditional Values and Family Structure Are as Relevant as Income Measures

Abstract . Ever since Becker's 1960 article on fertility, the economic approach has posited that the wife's wage rate and household income play predominant roles in fertility decisions. This study attempts to relate some social and cultural factors, including traditional value concepts and complexity of the family structure to the demand for children. Empirical findings with family survey data taken from Taiwan, the Republic of China, tend to support the view that fertility is better explained by a framework with a family structure and a sector dummy than one without. For public decision makers, findings of this kind suggest that preference heterogeneity, family structure complexity as well as the rural urban development trends should be explicitly taken into account in demographic policies aimed at family planning and overall quality of life enrichment.     

SHAREHOLDERS' UNANIMITY WITH INCOMPLETE MARKETS*

When markets are incomplete, shareholders typically disagree on the firm's optimal investment plan. This article studies the shareholders' preferences with respect to the firm's investment in a model with aggregate risk, incomplete markets and heterogeneous households who trade in firms' shares instead of directly accumulating physical capital. If the production function exhibits constant returns to scale and borrowing limits are not binding, a firm's shareholders unanimously agree on its optimal level of investment. In contrast, with binding borrowing constraints, constrained shareholders prefer a higher level of investment than unconstrained ones.     

Children's Responses to Advertising in Social Games

This study explored children's (ages 9 through 12) level of persuasion knowledge and peer influence susceptibility concerning advertising in social games and investigated how these variables affect children's desire for the brands advertised in these games. Results showed that (1) children have a fairly good knowledge of the advertising in social games yet hold uncritical attitudes toward it and claim to be not very susceptible to peer influence; (2) the most important predictors of children's desire for the advertised brands are a low critical attitude and high peer influence susceptibility; and (3) recognition and understanding of advertising in social games is effective in reducing advertised brand desire only for children who are familiar with social games.     

Determinants of brand equity in cultural organizations: the case of an art exhibition

The purpose of this research is two-fold. First, to explore the factors that help to create brand equity in cultural organizations from the visitor viewpoint and second, to examine the impact of cultural brand equity on visitor satisfaction as well as on future intentions. A model of the relationships is developed and empirically tested using data collected from visitors attending The Ages of Mankind cultural exhibition in Castilla and León, Spain. In the present study, evidence is found to support the propositions that brand equity is closely linked to the particular image it conveys, to the event's recognition, the quality of the exhibitions and the cultural values it transmits. Brand equity also impacts visitor perception of the most recent exhibition, as well as future intentions to attend or even pay an admission fee.     

Perceptions of representatives of public,private, and community sector institutions of the barriers and enablers for physically active transport

Active transport bridges many shared concerns in the public health and transport sectors. To positively affect opportunities for active transport, public health and transport professionals are engaging with other sectors, including urban planning, housing, recreation, retail, education, and employer groups. A first step in such inter-sectoral collaboration is to understand the perceptions of key players in all of these sectors. This paper describes the results of structured interviews with senior and middle-level administrators from public, private, and community groups in a rapidly developing region in Queensland, Australia, to assess the perceived barriers and enablers to active transport. Key themes emerged relating to infrastructure delivery, public transport services, walk- and cycle-friendly community attributes, political leadership and government coordination, and societal travel norms and culture. There were also themes relating to limits due to resources and limited relevant technical expertise, institutional and practitioner cultures, and agencies not identifying with their roles in active transport. Policies and cross-government initiatives were seen to hold promise, including economic incentives and built environment guidelines, campaigns targeting public attitudes and opinions, and community participation in policy-making. These elements are potential keys to positively promoting comprehensive active transport initiatives among gatekeepers and leaders across different sectors.     

Owning capital or being shareholders: An equivalence result with incomplete markets

Many recent papers in macroeconomics have studied the implications of models with household heterogeneity and incomplete financial markets under the assumption that households own the stock of physical capital and undertake the intertemporal investment decisions. In these models, production exhibits constant returns to scale, households maximize expected discounted utility, and firms rent capital and labor from households to maximize period by period profits. This paper considers the case in which infinitely lived firms, rather than households, make the intertemporal investment decisions. Under this assumption, it shows that there exists an objective function for firms that results in the same equilibrium allocation as in the standard setting with one period lived firms. The objective requires that firms maximize their asset value, which is defined as the discounted value of future cash flows using present value processes that do not allow for arbitrage opportunities.     

To Discount or Not to Discount: An Assessment of Perceptions,Beliefs, and Intentions to Use Electronic Auctions with Discounts

In the digital economy, electronic auction systems are becoming more prevalent in facilitating the transactions between buyers and sellers. Auction websites, such as eBay and Amazon, as well as more sophisticated platforms, such as Moai and FrictionlessCommerce have increased transaction volume by offering tailored auction protocols to specific customer groups. meet2trade is a generic electronic market platform that supports various auction mechanisms. This study examines the impact of a discount in a second-price, sealed-bid mechanism on bidding behavior and market outcomes. Emphasis is thereby placed on bidders’ system-based perceptions, beliefs about usage and institutional-based trust, and intention to use such an auction. Ninety students were recruited to participate in an experiment held at a Western European university. The experiment observed user behavior in second-price auctions with and without a discount. The results demonstrate that although discounts do affect bidding behavior and economic outcomes, they do not influence bidder’s intentions to use such auction mechanisms. Instead, we found that intention to use is influenced by institutional and usage beliefs that are shaped by system-based perceptions, which in turn provide specific advice to market engineers on the technical aspects influencing system adoption.