Consumer Household Materials and Logistics Management: Inventory Ownership Cycle

This paper examines the various stages and activities of consumers' management of owned possessions including acquisition, ownership, and disposition. Using a materials management perspective, more frequently found in industrial marketing, the authors develop a consumer model of management of household goods. Stages of the model are illustrated using consumer anecdotes collected as exploratory research. Implications for researchers, practitioners, educators, and policy makers are discussed in terms of how the materials management perspective can be used to help deliver better value in products and services to consumers by understanding the activities in each stage of ownership.     

MEASURING THE TRUE HARM FROM PRICE‐FIXING TO BOTH DIRECT AND INDIRECT PURCHASERS*

Legal actions by direct and indirect purchasers to recover damages from price‐fixing, common in the United States for years, are now appearing in a number of other countries. Traditional measures of damages are flawed as measures of the true harm suffered and will often significantly understate that true harm. This paper provides measures of the degree of understatement of the true harm when traditional approaches are used and shows how the size of the error depends on the degree of competitiveness of downstream markets. The paper also provides measures of distribution of the true harm between direct and indirect purchasers.     

The Cognitive Consumer Education Knowledge of Prospective Teachers: A National Assessment

A nationwide assessment of the cognitive consumer education knowledge of prospective teachers being trained for all academic disciplines included 84 institutions of higher education and provided usable data on 4,309 respondents. The sample scored less than sixty percent correct on the Test of Consumer Competencies. Prospective teachers were most knowledgeable in the areas of Recreation, Clothing, and The Individual in the Marketplace; they scored lowest in the areas of Taxes, Food, and Savings and Investment. Those majoring in Social Studies, History or Geography, Science, and Home Economics scored highest on the average while those majoring in Physical Education, Art and Music, and Special Education scored lowest. The prospective teachers who had completed a consumer education related course, approximately twelve percent of the total, scored higher than those who had not.     

DISTRIBUTIVE CONFLICT AND MONETARY POLICY

This paper develops a public choice theory of monetary policy and compares it with political-macroeconomic outcomes theory. The paper develops support for the public choice theory from recent historical evidence. It then employs this theory to explain the difficulty of effecting monetary reform and, in the absence of reform, the difficulty of implementing sustained periods of monetary restraint.