Methodological criteria for the internal validity and utility of practice oriented research

For conducting practice oriented research different research strategies are available. In this paper a typology is developed for differentiating between practice oriented research strategies that are data based and participatory research strategies. The former category involves quantitative and qualitative data based research strategies. The latter category, participatory research strategies, includes knowledge based research and practice based research. At present, methodological criteria for assessing the quality of practice oriented research heavily rely on those developed for theory oriented research, in particular internal and external validity and reliability. However, we argue that for assessing the results of practice oriented research other criteria are necessary. In this paper, methodological criteria are formulated for evaluating the internal validity and practical utility of practice oriented research with the help of a Delphi study using research methodologists as experts. They agree upon the criteria of verifiability, comprehensibility and acceptance of the results, as well as holism. Moreover, different categories of participatory and data based research strategies are compared to these criteria. Practice based research and qualitative data based research are best equipped to fulfill these criteria. These findings may enable researchers to make a more deliberate choice for a specific research strategy in practice oriented research.     

Municipal support of wireless access network rollout: A game theoretic approach

Next generation access networks are expected to bring ubiquitous broadband access and have attracted interest of municipal governments. This paper investigates the support by municipal authorities for the rollout of such a city-wide wireless broadband access network. Different business cases for 3G and WiFi operators are developed and it is indicated how to model the specificities for commercial versus public players. Furthermore, a game theoretic approach is used to investigate the investment options of the municipal player. It is shown that a partnership between a commercial and public player is the most likely investment strategy. However, bringing more players into the competitive environment reduces the intention of the commercial partner to engage in the public–private partnership (PPP).     

Public transport strikes and traveller behaviour

In many countries strikes hit the public transport sector from time to time. Public transport strikes are important for transportation research because they can impact upon the perceived reliability of public transport services. Moreover, the traveller's most preferred alternative is removed from the choice set. The traveller is forced to make up his mind about his preferences; doing so may induce a shift from inert, habit-driven behaviour to rational behaviour. In this paper we review 13 studies of strikes in the public transport sector, discuss criteria that determine the kind and size of the effects of a public transport strike, and present the results of a survey carried out after a short, unannounced railway strike in the Netherlands. Our survey confirms the results of other studies. In the short-term mainly captive travellers are affected; these are mostly commuters without alternative modes of transport who are highly inflexible in their departure or arrival times. As a result, on average 10–20% of the trips are cancelled. Most travellers switch to the car (either as driver or passenger) and as a result road congestion increases. Longer-term effects include a decrease in market share for public transport, which various studies estimate to be between 0.3 and 2.5%. The effect of a strike on public transport rider-ship can be temporary or permanent, depending on the type of strike and the policy response to it.     

The commuting time paradox

We examine the conditions for the ‘commuting time paradox’ which states that the average commuting time does not vary between different periods. We develop therefore an equilibrium job search model with endogenously chosen commuting costs. Presuming wage bargaining between workers and firms, the optimally chosen maximum commuting costs jointly maximise the worker's and firm's payoffs. We demonstrate that when productivity levels increase over time, average commuting costs and average wages both increase, which affects the optimally chosen commuting time. We establish the conditions under which the paradox holds.     

Testing the martingale hypothesis for futures prices: Implications for hedgers

The martingale hypothesis for futures prices is investigated using a nonparametric approach where it is assumed that the expected futures returns depend (nonparametrically) on a linear combination of predictors. We first collapse the predictors into a single‐index variable where the weights are identified up to scale, using the average derivative estimator proposed by T. Stoker (1986). We then use the Nadaraya–Watson kernel estimator to calculate (and visually depict) the relationship between the estimated index and the expected futures returns. We discuss implications of this finding for a noninfinitely risk‐averse hedger. © 2008 Wiley Periodicals, Inc. Jrl Fut Mark 28:1040–1065, 2008     

Optimal firm behaviour under different fiscal regimes

This paper presents a theoretical framework for studying tax effects on optimal entrepreneurial behaviour; this is done within the context of a partial equilibrium model of the firm. Several regimes of corporate income taxation are evaluated with respect to their (non-)neutrality characteristics. Subsequently, the degrees of tax shifting and tax compensation have been derived by means of a model specified in rather simple terms. Evaluating it numerically, we find that the Dutch regime tends to neutrality, or possibly to slightly negative non-neutrality.     

The Liquidity of Property Shares: An International Comparison

This article investigates the magnitude and determinates of share liquidity over the 1990–2007 period in the world's four largest securitized real estate markets: the United States, the United Kingdom, Continental Europe and Australia. We document a significant and consistent role for market capitalization, nonretail share ownership and dividend yield as drivers of liquidity across markets. We also document significant differences in liquidity across countries and between property and nonproperty companies. Also striking is the lack of correlation among our three measures of liquidity across property firms and time. This supports the notion that share price liquidity is multifaceted and therefore reliance on any one measure of liquidity in empirical work may produce misleading conclusions. Although we find some evidence of a connection between liquidity and firm value, it is less conclusive than prior studies.     

Editorial for JREFE Special Issue

Editorial

Editorial for JREFE Special Issue