Modeling and Computing Transactions Costs for Purchasers of Housing Services

This paper models, as equilibrium behavior, buyers' behaviors under transactions costs and market failure constraints. It derives equilibrium conditions and it shows how they differ from unconstrained models. Standard utility and cost parameters are then used to estimate the economic costs of the constraints, which may be interpreted, at the margin, as the transactions costs of moving. If transactions costs are greater than the economic costs of the constraints, the household remains in a residence, even in response to changed price and income expectations. Changes in expected prices and incomes lead to changed housing demand even when the household cannot adjust housing consumption between periods. These findings have implications for empirical work with both cross-section and panel data sets.     

Evidence of Racial Discrimination in Different Dimensions of Owner-Occupied Housing Search

This paper examines the incidence and extent of racial discrimination in various dimensions of owner-occupied housing search. Audit data for sales units (1980-90) from the Fair Housing Center of metropolitan Detroit is used in an ordered probit framework. Agents' own prejudices and the prejudices of their customers are shown to be significant in explaining discrimination. Results also indicate that white home seekers are steered toward more white and affluent neighborhoods.     

Exploring the role of memory for self‐selected ad experiences: Are some advertising media better liked than others?

Advertising media are associated with different degrees of self‐selected versus intrusive ad experiences. The role of such media differences in attitudes toward advertising was explored in a nationwide survey. The survey provides a national picture of attitudes toward specific ad media ranging from advertising media that deliver highly self‐selected ad experiences (catalogs and business classifieds) to highly intrusive ones (TV). A total of 2,514 adults were surveyed regarding their opinions about ads in (1) TV, (2) radio, (3) catalogs, (4) business classifieds, (5) out‐of‐home, or (6) advertising in general. Media that allow for self‐selected experiences, where perceived interest in an ad is the basis for attention to it, were evaluated much more favorably than more intrusive advertising media. Catalogs and business classifieds elicited the most favorable opinions; TV advertising elicited the least, and these media differences generally cut across demographic lines. Also, although more educated and affluent consumers generally held less favorable views of advertising, preliminary results suggested that this did not hold true for media that allow for self‐selected processing. An additional study suggested that memory for advertisements plays a significant role in the evaluation of a self‐selected ad medium (catalogs). That is, consumers' strongest memories are for those ads to which they paid the most attention, and consequently these engaging ads have a disproportionate influence on opinions toward the ad medium. © 2004 Wiley Periodicals, Inc.     

An analysis of the effectiveness of public accounting internship programs at major New York city CPA firms

This study examines the effectiveness of public accounting internship programs at large CPA firms in New York City. It was found that these programs are effective in helping interns obtain a better understanding of professional practice except in the area relating to specialization.     

Managing collaboration within networks and relationships

Building on the central theme of the inaugural meeting of the Industrial Marketing and Purchasing (IMP) Group in Asia in Perth 2002, we have selected those papers that best reflect our current thinking on managing collaboration in networks and relationships. In the nine papers that follow, we examine the impact of time, market orientation, culture, communication, and trust on relationships and examine these within the context of both the manufacturing and service industries using a variety of alternative approaches.     

Measuring Intangible Capital: A Review of Current Practice

This paper examines international practices that measure firm-level investments into intangible capital. The issues motivating the paper are the need for a standardised framework for measuring intangible capital and the possibility for standardised applications of these measures into the future. The paper analyses the differences and problems associated with the properties of the "official" (accounting) and "non-official" measurement approaches. We propose that the way to a standardised, more comparable approach to measuring intangible capital is to employ a back-to-basics "costs" approach which classifies investments in intangible capital as assets based on management intent at the time.