Learning and communication in sender‐receiver games: an econometric investigation

This paper compares stimulus response (SR) and belief‐based learning (BBL) using data from experiments with sender–receiver games. The environment, extensive form games played in a population setting, is novel in the empirical literature on learning in games. Both the SR and BBL models fit the data reasonably well in games where the preferences of senders and receivers are perfectly aligned and where the population history of the senders is known. The test results accept SR and reject BBL in games without population history and in all but one of the games where senders and receivers have different preferences over equilibria. Estimation is challenging since the likelihood function is not globally concave and the data become uninformative about learning once equilibrium is achieved. Copyright © 2002 John Wiley & Sons, Ltd.     

Intra-industry foreign direct investment: Its rationale and trade effects

Zusammenfassung Intra-industrielle Direktinvestitionen im Ausland: Ihre Gründe und Auswirkungen auf den AuΒenhandel. — Der Aufsatz zeigt, daΒ intra-industrielle Direktinvestitionen oder die daraus finanzierte Produktion im Ausland Formen des internationalen wirtschaftlichen Engagements sind, die ihre Begründung sowohl im intra-industriellen Handel als auch in der inter-industriellen Produktion finden. Dies wird an Hand einer Taxonomie aufgezeigt. Es wird argumentiert, daΒ intra-industrielle Direktinvestitionen im Ausland eine natürliche Folge der gleichen Faktoren sind, die zu intra-industriellem Handel führen, wobei unternehmensspezifische Vorteile wichtiger sind als die in einem Land begründeten Vorteile. Intra-industrielle Auslandsinvestitionen bedeuten auΒerdem, daΒ internationale Transaktionen am besten in hierarchischer Form und nicht über (Kassa-)M?rkte durchgeführt werden, und zwar aus Gründen, die den g?ngigen Theorien über multinationale Operationen entnommen werden k?nnen. Ganz sicher folgt sowohl aus der Theorie als auch aus den verfügbaren Daten, daΒ die intra-industrielle Produktion wahrscheinlich an Bedeutung gewinnen wird, vor allem dann, wenn keine Eingriffe durch die Regierungen erfolgen.

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Résumé Investissement étranger direct intra-industriel: sa base raisonnée et ses effets commerciaux. — L’article démontre que l’investissement étranger direct intra-industriel (IE-DII) ou la production correspondante comme forme d’engagement international économique est soumise à des motifs rationnels qui basent sur le commerce intra-industriel (Cll) et la production inter-industrielle. Les auteurs arguent que l’IEDII est une conséquence naturelle des facteurs économiques qui ménent au CII et qui même sont déterminés par la nature de ?l’industrie? dans laquelle le CH se passe. En plus, cependant, l’IEDII implique que les transactions internationales sont conduites le mieux par des hiérarchies et non par des marchés à cause des raisons qui peuvent être déduites par des théories recues des opérations internationales. Il apparait clairement, de la théorie aussi bien que des données disponibles que probablement la production intra-industrielle gagnera en importance, particuliérement si elle restera libre de l’intervention gouvernementale.

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Resumen Inversion extranjera directa en la industria: razón de su impacto sobre el comercio. — El artfculo muestra como la inversión extranjera directa intra-industrial o la producción como forma de participación económica internacional tiene una razón de ser basada en el comercio y en la producción intra-industrial. Se propone que la inversión extranjera directa es una conscuencia natural de los factures económicos que llevan el comercio intra-industrial, los que a su vez están determinados por la naturaleza de la industria en el que el comercio tiene lugar. La inversion extranjera directa implica adicionalmente sin embargo que las transacciones internacionales se ejecutan mejor a travès de jerarqufas que a travès de mercados por razones que pueden ser derivadas de conocidas teorias sobre operaciones multinacionales. Es evidente, por medio de la teoria y de las estadisticas disponibles, que se puede esperar un crecimiento de la producci?n intra-industrial, especialmente si se le libèra de interferencia gubernamental.

     

Developing a distinctive consumer marketing organization

Marketing excellence is a key success factor in virtually any industry or company focused on consumer products or services. Defining what marketing excellence really means and how to mobilize the organization to achieve that goal, however, can be extremely challenging. This article examines the changing nature of the relationship between consumer and marketer and identifies the characteristics of excellent consumer marketing companies. While there is clearly no single right answer in designing marketing organizations, a number of companies in a variety of consumer industries have begun experimenting with promising results. While the solutions are different in each case, a number of common themes—including a clear linkage between strategy and marketing skills, seamless integration across the business system, and a clear marketing culture—are beginning to emerge.     

The elasticity of substitution as a proxy measure of economic integration

This study examines how the accession of Greece to the European Union affected the Greek economy. Transcendental production functions of agriculture, industry, and service sectors of Greece, Germany, and France were estimated and tested for structural stability. Based on two estimated parameters of sectoral production functions and the corresponding data on capital-to-labor ratios, sectoral elasticities of substitution were constructed as vectors of values, varying with time. It was found that the elasticities of the traded sectors, industry, and manufacturing converged. The elasticities of substitution of the nontraded sector service and the traded, but protected, sector of agriculture diverged.     

Enhancing Arthur Andersen business ethics vignettes: Group discussions using cooperative/collaborative learning techniques

Arthur Anderson & Co. has made a significant contribution to assist and encourage the teaching of business ethics. They provided assistance initially through workshops and curriculum materials; currently they are using campus coordinators to disseminate information and materials. The curriculum materials can be used by the instructor to assist students in practicing their moral reasoning skills and cover four academic areas: Accounting, Finance, Marketing, and Management. These materials include business ethics video vignettes, suggestions on presentation methods, guidelines for implementing a stakeholders' analysis approach to ethical reasoning, and possible discussion questions. The vignettes present ethical dilemmas that persons may encounter in entry level positions. We have used the vignettes, the accompanying discussion questions, and the suggested stakeholder analysis in class presentations. This paper presents a discussion of the basic concepts associated with cooperative learning, an example of the implementation of cooperative learning techniques using the Arthur Andersen Accounting Ethics Vignettes, and empirical results of the influence of these particular group discussions on the students' ethical responses. We did not attempt to measure whether the individuals' moral levels changed, but whether the group discussions stimulated any changes in the students attitudes toward the particular ethical dilemma they viewed.Lucia E. Peek is Associate Professor of Accountancy at Western Illinois University. She has published articles inAuditing: A Journal of Practice and Theory, Public Personnel Management, Management Accounting, Illinois Issues, The Accounting Instructor's Report, andThe Bulletin of the Association for Business Communication.George S. Peek is Associate Professor of Accountancy at Western Illinois University. He has published articles inManagement Accounting, Kent/Bentley Journal of Computers and Accounting, The Accounting Instructor's Report, The Bulletin of the Association for Business Communication, Journal of Education for Business, andComputers in Composition.Mary Horras is Instructor of Accountancy at Western Illinois University. In 1991 she was awarded the Arthur Andersen/Richard E. Claire Faculty Development Award for Outstanding Beta Alpha Psi Faculty Advisor. She has published an article in theCollege Student Journal.     

Recent trends in health care expenditure and utilization in OECD countries

Conclusions High unemployment and low economic growth continue to plague many OECD countries, putting strong pressures on governments to reduce social spending. Health is the second largest social expenditure program and has been one of the fastest growing. Health care financing and delivery systems which were designed to achieve access have not proven themselves effective in ensuring efficient production and consumption of services.The inability to measure the effects of health expenditures on health outcomes, the lack of clinical standards of appropriateness of treatment, and indeed the sensitivity of health status to non-medical systems' aspects of society further confound the problems of developing policies to promote efficiency and equity. Moreover, future demographic and technological changes could place substantial new budgetary pressures on governments.Understanding the nature of the problem, effective measures taken, and the transferability of such measures to particular situations or systems are essential for preserving access while assuring efficiency under current as well as future economic and demographic constraints.Invited address at the Twenty-Third International Atlantic Economic Conference and the International Health Economics and Management Conference, April 20–27, 1987, Munich, West Germany. The views expressed in this paper are those of the author and do not necessarily represent those of the OECD.