The Moderating Role of Personal Need for Structure on the Evaluation of Incrementally New Products versus Really New Products

Previous literature about the impacts of product newness on consumers’ acceptance of new products pointed out that consumers are more prone to purchase incrementally new products (INPs) than really new products (RNPs). This study investigated the moderating role of individual difference in personal need for structure (PNS) on consumers’ evaluation of INP versus RNP. The inverted‐U evaluation pattern of the schema congruity effect was predicted to be left‐skewed for high‐PNS consumers and right‐skewed for low‐PNS consumers as regards their evaluations of INP versus RNP. The results of Study 1 showed that low‐PNS consumers evaluated RNPs higher than INPs. High‐PNS consumers evaluated INPs higher than RNPs consistent with the prediction; however, the result was not significant. Relative to this issue, the moderating role of PNS on consumers’ evaluation of INP versus RNP may have been affected by consumers’ product category knowledge. The results of Study 2 verified the left‐ and right‐skewed inverted‐U hypotheses and showed that the moderating effect of PNS was evident only for novice consumers. Theoretical contributions and managerial implications from the results of the studies are discussed.     

A mixed spectrum management framework for the future wireless service based on techno-economic analysis: The Korean spectrum policy study

The evolution of radio technology and various services has increased the world's dependence on wireless communications. The demand for and value of spectrum resources therefore are also increasing. Spectrum efficiency is the most important factor in managing spectrum scarcity. However, under the current spectrum management approach, it is difficult to adopt innovative technologies that improve spectrum efficiency and flexible usage in the current dynamic wireless market. Recently, there have been several approaches to improve efficient use of spectrum resources, and each approach has its own advantages and disadvantages. Therefore, this research first discusses current issues and analyzes relative social welfare based on the different characteristics of technology and market conditions to compare various attributes of each approach. Based on the techno-economic simulation results, this paper introduces a mixed spectrum management framework for the future wireless service and support policy makers’ decision making. Furthermore, the mixed spectrum policy to spectrum management in Korea is proposed to find a more realistic and efficient spectrum management policy.     

Endogenous timing of actions under conflict between two types of second mover advantage

In this model, two players, who are heterogeneous in information quality, compete with each other with perfect information about the other player's information quality. The less-informed player has an incentive to delay her action in order to gain more information. The more-informed player also intends to delay her action, not through a desire to learn but rather to prevent the less-informed player from gaining information. Hence, if a waiting option is available, both players want to delay their actions and the conflict between the two types of second mover advantage yields a delay race. Although both players can benefit from a delay, the gain from a delay in order to learn is greater than that from a delay intended to prevent the other from learning. Therefore, the cost for a delay plays an important role in characterizing the equilibrium, and if the sequential timing of actions is derived in a pure equilibrium, the leader will be the more-informed player. If a given cost for a delay is sufficiently low, the only equilibrium is a mixed equilibrium. Interestingly, in that equilibrium, the existence of the first-mover advantage from being imitated is also derived.     

IMPACTS OF TRADE LIBERALIZATION ON EMPLOYMENT IN VIETNAM: A SYSTEM GENERALIZED METHOD OF MOMENTS ESTIMATION

Using a system generalized method of moments model, the present paper investigates the impacts of trade liberalization on employment in Vietnam from 1999 to 2004. The results show that the increase in industrial output increased labor demand, whereas the increasing wage rate led to a decline in the employment level. The impact of export expansion on derived labor demand was positive and statistically significant, indicating that the higher level of exports than previously presented employment opportunities for the country's large labor surplus. As far as imports are concerned, empirical observations indicate that imports did not necessarily negatively impact Vietnam's employment level.     

International Capital Movements In the Solow and Overlapping Generations Growth Models*

This paper examines capital movements in the overlapping generations and Solow models. For the overlapping generations model, a simple compensation scheme is developed to show how the gaining generation(s) can always compensate the losing generation(s) and still gain in the move from autarky to free capital mobility. Moreover, unlike the Solow model, the move to an open economy for the overlapping generations model has a tendency to reduce the assets held by the capital-exporting country.     

Carcinoma of the ampulla of Vater: Sonographic and CT diagnosis

Twenty patients with carcinoma of the ampulla of Vater were studied with sonography (N = 9) or both sonography and CT (N = 11). The tumor was shown by sonography in 16 patients (80%) as a small, round or oval, fairly well delineated mass in between the dilated distal common bile duct and duodenum which was delineated owing to luminal fluid or gas (N = 13); or as a polypoid mass within the dilated distal common bile duct resulting in abrupt obstruction (N = 3). In the remaining four patients, the mass was not delineated. Bile ducts were dilated down to the level of mass or ampullary region in all cases (100%), while the pancreatic duct was dilated in five cases (45%). We believe that sonography is the technique of initial choice in the diagnosis of carcinoma of the ampulla of Vater by identifying the mass at the distal end of the dilated common bile duct and/or pancreatic duct.     

The Demand for Accounting Conservatism for Management Control

We show that conservative financial reporting arises naturallyin principal-agent settings as a means of efficiently motivating agentswhen the penalties that can be imposed on agents are limited. Weconsider an accounting system whose reports are used for contracting andwhose parameters are controlled by the principal. One advantage of our model is that the information system we describe has the accountingcharacteristic of mapping unbiased underlying information about the firminto a reduced message space. The principal can choose how that mappingoperates, i.e., conservatively, liberally, or neutrally. When penaltiesare sufficiently limited (a limited liability setting), we show that theaccounting system designed by the principal is always conservative. Alternatively, in an unlimited liability setting, any bias in the systemdepends on random circumstances, and we would not expect accountingconservatism to arise as a pervasive and enduring phenomenon.     

Interest rate risk and optimal design of mortgage instruments

This article develops and analyzes a simple expected utility model for interest rate risk and mortgage choice. The model demonstrates how the risks of interest rate changes should be allocated between borrowers and lenders through varying mortgage payments. In general, we conclude that full protection against interest rate risk, as a normative guideline, is likely to be suboptimal for the typical household. Our results show that the optimal design of adjustable rate mortgages should include an interest rate CAP provision.An earlier version of this article was presented at the American Real Estate and Urban Economics Association Meetings, Atlanta, Georgia, December 27–30, 1989.     

Gender Imbalance: The Male/Female Sex Ratio Determination

Synopsis The aim of this paper is to develop a rational choice model for male/female sex ratio determination. The equilibrium sex ratio at birth is determined by the preference for sons and birth rates. The conventional theory predicts that low birth rate will increase the disparity between male and female births. However, our model predicts that low birth rate will decrease the sex ratio at birth. The argument has relevance both for positive and normative aspects of demographic composition, as well as other applications.