An analysis of changes in bank market structure

Conclusion Several conclusions may be derived from this study. First, there is a great deal of randomness in the determination of market structure. Thus, regulatory authorities also need to look to performance variables directly, as well as structural variables. Second, merger policy at present seems to be effective; at least, mergers do not lead to increases in concentration. Third, the results with respect to the holding company and branching variables suggest that statewide banking in the short run leads to increased concentration in local markets. These results may, however, be only true in the short run. Long run effects may strengthen the short run effects or may work in the opposite direction. Further research should be devoted to the long run determinants of market structure. The opinions in this paper are the authors' and do not necessarily reflect the opinions of the Board or its staff. Financial support from the Center for Public Policy Research of the University of Florida is gratefully acknowledged.     

Accelerated Product Introductions and Emerging Managerial Accounting Perspectives: Implications for Marketing Managers in the Technology Sector

Rapid changes in manufacturing and design technologies coupled with increased competition domestically and internationally have led to shorter product life cycles and compressed lead times for product introductions in the technology sector. Traditional cost accounting systems, which assume labor to be the major cost component in the production process, have resulted in distortions in cost information. Samuel Rabino and Arnold Wright describe emerging cost accounting approaches that more adequately address the changing competitive and technological environments and facilitate an improved evaluation of product launch programs.     

A difference in informational influences: Services vs. goods

The literature provides little insight as to whether a difference exists between the marketing of services and goods. Most textbooks do not address the issue of possible differences. Their neglect of the topic would seem to indicate a working hypothesis that services and goods do not differ in any meaningful way. Authors of articles and books that do address the service issue typically dwell on implied differences between goods and services. Wyckham (1975) has concluded that “in terms of marketing, services are not different from products (goods).” Wyckham’ argument and most of the other services literature, however, is non-empirical and provides little guidance as to whether a difference between goods and servicesactually exists.     

Optimal financial investments for non-concave utility functions

We prove a formula for the computation of optimal financial investments in an expected utility framework with arbitrary (not necessarily concave) utility functions. This extends classical results on optimal financial investments for strictly concave utility functions and is of importance particularly for applications of prospect theory where the utility function has a convex-concave shape.     

Nurses leading the response to the crisis of palliative care for vulnerable populations

All nurses are prepared to be generalists in palliative care. Within the discipline there are nurses who seek advanced educational preparation and develop clinical expertise in palliative care nursing. These are our leaders in palliative care nursing who can exert influence in all health care settings to support nurses providing palliative care. It is nurses and advanced practice nurses in partnership who are capable of developing and advocating for palliative care across settings. The focus of care is the person, not the diagnosis or the setting. The viewpoint that "all nursing care is palliative care" can transform health care with nurses taking the lead.     

Giving Stated Preference Respondents “Time to Think”: Results From Four Countries

Previous studies have found that contingent valuation (CV) respondents who are given overnight to reflect on a CV scenario have 30–40% lower average willingness-to-pay (WTP) than respondents who are interviewed in a single session. This “time to think” (TTT) effect could explain much of the gap between real and hypothetical WTP observed in experimental studies. Yet giving time to think is still rare in binary or multinomial discrete choice studies. We review the literature on increasing survey respondents’ opportunities to reflect on their answers and synthesize results from parallel TTT studies on private vaccine demand in four countries. Across all four countries, we find robust and consistent evidence from both raw data and multivariate models for a TTT effect: giving respondents overnight to think reduced the probability that a respondent said he or she would buy the hypothetical vaccines. Average WTP fell approximately 40%. Respondents with time to think were also more certain of their answers, and a majority said they used the opportunity to consult with their spouse or family. We conclude with a discussion of why researchers might be hesitant to adopt the TTT methodology.     

Was the emergence of the international gold standard expected? Evidence from Indian Government securities

The emergence of the gold standard has for a long time been viewed as inevitable. We analyze agents' expectations using the spread between gold and silver bonds issued by the Indian government. We find that bimetallism was credible until France surprised markets by suspending domestic operation of bimetallism, triggering a run away from silver. Thereafter, markets began demanding a premium to hold silver bonds, indicating their belief that silver would depreciate in the future as more countries moved on gold.