An integrated tax-subsidy policy for carbon emission reduction

A carbon tax is often cited by economists as an effective instrument to mitigate greenhouse gas emissions, but there is little political interest in the United States. In light of this political unpopularity, we develop and examine a net-revenue constrained carbon tax and subsidy program. The optimal revenue constrained tax and subsidy schedule based on our utility maximization model taxes energy sources with high emissions to energy price ratio, and subsidizes sources with low emissions to energy price ratios. This approach may be more palatable than a traditional carbon tax because it can change the relative price of low and high emissions energy sources while providing a mechanism to limit net tax increases and energy price increases. We find that a constrained tax/subsidy program provides welfare gains relative to a no-tax scenario. Welfare gains are estimated to be 1% and 36% of the welfare gains from a Pigouvian tax for the motor fuels industry and electric power industry, respectively. In contrast, subsidies for low-emitting energy sources funded from general tax funds rather than from high-emission energy tax revenues lead to welfare decreases substantially below our proposed tax/subsidy policy approach.     

The relationship of perception of time and attributes of leisure in daily experiences

The purpose of this study was to explore the relationship between perceived passage of time (slowly versus quickly) and perceived freedom, enjoyment, interest and subjective meaning of leisure in daily experiences of married couples. Eleven college-age married couples participated in this study. Data were collected using experience sampling method that produced a total of 650 self-reports. Couples were signalled at random five times a day for one week. Using logistic regression results suggest that some leisure attributes are more relevant in influencing perception of passage of time in husbands' and wives' daily experiences.     

Critical creativity criteria for students in higher education: taking the interrelationship effect among dimensions into account

It is known that the overall competitive advantages enjoyed by the Taiwanese higher education system have been decreasing in recent years relative to the educational systems of other countries. In light of aiming to become a kingdom of innovation, how to regain its competitive advantages over the very short term has become a critical issue requiring immediate attention. Based on previous research indicating that improving innovation is among the primary ways of enhancing an education system’s competitive advantages, that creativity is the foundation of innovation, that organizations that truly understand human creativity and are committed to nurturing it and living with the consequences of doing so are those that are most likely to succeed, and that students are a major group to be regarded as the backbone of a nation’s future development, the aim of this study is to explore critical criteria for creativity, which could significantly improve the creativity of college students. Although related studies can be found today, these studies seem to ignore the different effects of different dimensions of creativity evaluation, leading to results that are irrational and not completely suitable for real practice. In this regard, a perception of interrelationships among these dimensions is thus taken into account while calculating weights of evaluation creativity dimensions and criteria. In accordance with the result, the top six explored critical creativity criteria are shown to help enhance today’s college students’ creativity.     

The Federal Trade Commission's Anti-trust Attack on Advertising

Over the last decade, American public policy has turned increasingly against advertising. The Federal Trade Commission, in several test cases, has set out to show that advertising strengthens and sustains the power of the monopolist. By and large, the attack has failed, and thereby enhanced the contrary view that advertising is a force for competitive efficiency.     

Trends in time allocation: A cross-country analysis

Using detailed time-use data for seven industrialized countries from the 1970s until today we document general decreases in men's market work coupled with increases in men's unpaid work and child care, and increases in women's paid work and child care coupled with decreases in unpaid work. We also find almost universal increases in the time devoted to watching television over this period, and uncover a widespread increase in leisure inequality in favor of lower educated adults. Trends in leisure inequality mirror the general increase in income and earnings inequality experienced in most countries over this period, especially after the mid-1980s. All these findings are consistent with previous results for the US. However, in contrast to the increases in leisure found for the US, we fail to find common trends in leisure time across countries over the period analyzed.     

Delivering Customer Satisfaction within the SME Client-Banker Relationship

The UK clearing banks, having significantly improved their customer service reputation in the UK SME (Small and Medium Size Enterprise) sector, may be revising their market position during the current recession. A survey of people starting a new business and bankers reveals that both ownerlmanagers and bankers feel the quality of the customer-bank relationship may have deteriorated. This situation has implications for both the availability of funds for new small business and the future strategies of the UK banks when servicing SME sector clients. A customer management model is proposed as a mechanism for classifying variution in ownerlmanager needs for financial service. The model is used to assess the nature of customer service which a bank may wish to provide to their different types of small business client.     

A Conceptual Model of Strategic Considerations for International Retail Expansion

Expansion into global markets is a dominant issue influencing most retailers' plans for strategic growth. However,internationalisation is not a viable alternative for every retailer. This paper discusses four independent elements that areconsidered as preconditions that should take precedence in the global expansion decision-making process. These elementscomprise the PLIN Model.     

The use of earnings and cash flows in investment decisions in the U.S. and Mexico: Experimental evidence

In this study, we investigate which of two accounting performance measures, earnings or cash flows, is used more in valuation decisions by non-professional investors in the United States and in Mexico. This issue is relevant for the Mexican Stock Market (Bolsa Mexicana de Valores) because the Bolsa's growth has stagnated compared with markets of other Latin American countries. Results of the study reveal that the majority of participants in the U.S. rely on earnings while the majority of participants in Mexico rely on cash flows. Results also suggest that the users’ predisposition can be dysfunctional to the extent that they do not consider using the other accounting measure, even when doing so made it easier to arrive at the correct valuation result (i.e. they did not choose to use the more persistent and therefore easier to forecast accounting measure). However, results are mixed for participants using earnings, since we document a higher chance of forecasting errors for participants in both countries when using earnings rather than cash flows in their calculations for the failure of these participants to adjust earnings for depreciation.This study extends the existing international literature by documenting a country-specific predisposition to use cash flows or earnings as a valuation tool by non-professional investors. Moreover, this study also shows that this predisposition can be dysfunctional, leading participants to make incorrect valuation decisions as a result of their failure to consider the differential persistence of the two accounting measures presented in the experiment.     

Effects of Collaborative Communication on NPD Collaboration Results: Two Routes of Influence

Although NPD collaboration with external partners has become the next generation in NPD practice, the discussion concerning how to organize collaboration so as to obtain better results is far from over. Since communication is the most important element in successful interfirm exchange, this study focuses on the impact of collaborative communication and its facets—frequency, formality, reciprocal feedback, and rationality—on NPD collaboration results. In order to explain how collaborative communication can best be managed to enhance NPD collaboration results, this research combines the relational and resource‐based views, proposing the existence of two routes of influence: the direct resource‐based route and the indirect relational route mediated by trust. Using a sample of 207 NPD collaboration projects of innovative firms, empirical findings indicate that reciprocal feedback–rationality and frequency play an important role in product quality and adherence to budget and schedule, respectively, even without trust. Moreover, the trust between partners substantially reinforces the positive influence of reciprocal feedback–rationality on NPD collaboration results and makes the effect of formality significant. Therefore, the two alternative routes are confirmed as important paths to new product success, which provides relevant managerial implications.